Document:

10.18 Ball Key Employee Retention Agreement

KEY EMPLOYEE RETENTION AGREEMENT
This Key Employee Retention Agreement (the "Agreement") is effective as of January 1, 2013 (the "Effective Date"), by and between David Ball (the "Employee"), and Kinetic Concepts, Inc. (the  "Company") (together the "Parties").
RECITALS
WHEREAS, the Employee is presently employed by the Company or one of its subsidiaries as Senior Vice President, Operations and has significant strategic and management responsibilities necessary to the continued successful operation of the Company's business;
WHEREAS, the Board of Directors of the Company’s parent (the "Board") has determined that it is in the best interests of the Company and its stockholders to assure that the Company will have the continued dedication and objectivity of the Employee; and
WHEREAS, the Board believes that it is imperative to provide the Employee with certain severance benefits upon the Employee's termination of employment under the circumstances described herein that provide the Employee with the financial incentive and encouragement necessary to remain with the Company on a long-term basis.
NOW, THEREFORE, in consideration of the mutual covenants contained herein, the Parties agree as follows:
1.Term of Agreement.  The Company and the Employee agree that this Agreement will be in effect from the Effective Date until the termination of the Employee's employment with the Company.
2.At-Will Employment.  While this Agreement is in effect, the Employee's employment with the Company shall continue to be at-will and, as such, may be terminated by the Employee or the Company at any time, for any reason and with or without advance notice, subject to the Company's severance obligations set forth herein.
3.Definition of Terms.  The following terms referred to in this Agreement shall have the following meanings: 

(a)Accrued Obligations.  “Accrued Obligations” means the (i) any base salary earned, but not yet paid, prior to the effective date of termination of employment, (ii) any annual bonus that was determined, but not yet paid, prior to the effective date of such termination, (iii) reimbursement for any unreimbursed business expenses properly incurred by the Employee in accordance with Employer policy prior to the date of Employee’s termination; provided that claims for such reimbursement (accompanied by appropriate supporting documentation) are submitted to the Employer within 90 days following the date of Employee’s termination of employment, and (iv) any amounts or benefits that are vested amounts or vested benefits or that the Employee is otherwise entitled to receive under any plan, program, policy or practice (with the exception of those, if any, relating to severance) on the date of termination, in accordance with such plan, program, policy, or practice. 
(b)Affiliate.  "Affiliate" means, with respect to any entity, any other corporation, organization, association, partnership, sole proprietorship or other type of entity, whether incorporated or unincorporated, directly or indirectly controlling or controlled by or under direct or indirect common control with such entity. 

(c)Cause.  "Cause" means conduct involving one or more of the following:  (i) the substantial and continuing failure of the Employee to render services to the Company in accordance with the Employee's obligations and position with the Company, other than due to Disability; provided that the Company provides the Employee with adequate notice of such failure and, if such failure is capable of cure, the Employee fails to cure such failure within 30 days of the notice; (ii) dishonesty causing financial or reputation harm to the Company, gross negligence, or breach of fiduciary duty; (iii) the Employee's indictment of, conviction of, or no contest plea to, any felony, or an act of theft, fraud or embezzlement; or (iv) a material breach of the terms of an agreement between the Employee and the Company or a material breach of any Company policy.  The Employee's employment with the Company shall be deemed to have terminated for Cause if, within 12 months after the Employee's employment has terminated, facts and circumstances are discovered that would have justified a termination for Cause; in which case, the Employee may be required to repay to the Company any severance benefits to which he or she would not have been entitled upon a termination for Cause. 
(d)Change in Control.  “Change in Control” has the meaning set forth in the Amended and Restated Limited Partnership Agreement of Chiron Guernsey Holdings L.P. Inc. 
(e)Company.  "Company" means Kinetic Concepts, Inc. and any Subsidiary or Affiliate of the Company.
(f)Disability.  "Disability" means  a condition entitling the Participant to receive benefits under a long-term disability plan of the Company, or, in the absence of such a plan, the complete and permanent inability by reason of illness or accident to perform the duties of the occupation at which the Employee was employed or served when such disability commenced. 
(g)Good Reason.  "Good Reason" means, in order to be a Qualifying Termination, one or more of the following, without the Employee's written consent:  (i) the material reduction of the Employee's duties and/or responsibilities, which is not cured within 30 days after the Employee provides written notice to the Company; provided, however, it shall not be considered Good Reason if, upon or following a Change in Control, the Employee's duties and responsibilities remain the same as those prior to the Change in Control but the Employee's title and/or reporting relationship is changed; (ii) the material reduction of the Employee's base compensation (which is not cured within 30 days after the Employee provides written notice), other than across-the-board decreases in base compensation applicable to similarly situated, “Key Employees” of the Company; or (iii) the relocation of the Employee to a business location in excess of fifty (50) miles from the location of the Employee's employment with the Company on the Effective Date (which is not cured within 30 days after the Employee provides written notice).  To be considered a resignation from employment on account of Good Reason, the Employee must:  (i) provide written notice to the Company (stating that Employee believes one or more of the Good Reason conditions described above exists) within 30 days from the date the Employee becomes aware of the initial existence of such condition, upon the notice of which the Company shall be provided a period of 30 days during which it may remedy the condition, and (ii) resign within 30 days of the Company's failure to cure such condition. 
(h)Qualifying Termination.  A "Qualifying Termination" means the Employee's (i) termination of employment by the Company without Cause (other than on account of Disability); or (ii) the Employee's resignation from employment with the Company for Good Reason.
(i)Subsidiary.  "Subsidiary" means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company, if each of the corporations (other than the last corporation) in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in the chain.

4.Severance Benefits Upon a Qualifying Termination. If the Employee experiences a Qualifying Termination, then the Employee shall be entitled to receive the following severance benefits, which shall be in addition to the Accrued Obligations: (i) a severance payment in the amount of the Employee's annual base salary plus annual target bonus, payable as a lump sum payment within five business days of the date of the Qualifying Termination, subject to Section 6(a) below; and (ii) if the Employee timely elects COBRA health insurance continuation coverage at the same, or a lower, level of coverage as the Employee had elected prior to his or her Qualifying Termination, the Company shall reimburse the Employee for the full COBRA premium payment made by the Employee, until the earliest of: (A) 12 months following the Separation Date, (B) the date the Employee fails to make timely payment of COBRA premiums and/or terminates his or her election of COBRA coverage, and (C) the date the Employee becomes eligible for comparable health insurance coverage (as an employee or otherwise), that does not contain any exclusion or limitation with respect to any preexisting condition of the Employee or a covered family member.  The Employee acknowledges that the Company's reimbursement to the Employee of the full COBRA premium payment made by the Employee will be taxable income to the Employee.  
5.Termination of Employee's Employment Other than a Qualifying Termination
(a)Termination on Account of Employee's Disability or Death.  If the Company terminates the Employee's employment as a result of the Employee's Disability or due to the death of the Employee, then the Employee shall not be entitled to receive any severance benefits and shall only be entitled to receive the Accrued Obligations; provided, however, that this provision shall not have any effect upon any rights the Employee or the Employee's estate may have under the terms of any Company short- or long-term disability policy or life insurance policy.
(b)Termination for Cause or Resignation without Good Reason.  If the Employee is terminated for Cause or resigns from employment without Good Reason, then the Employee shall not be entitled to receive any severance benefits and shall only be entitled to receive the Accrued Obligations.
6.Conditions to Severance Benefits.  
(a)No severance benefits shall be provided under Section 4 above unless and until the Employee, in consideration of such benefits has executed, returned, and not revoked, during any revocation period required by applicable law, a Separation and Release Agreement in substantially the form attached hereto as Exhibit A (the "Release"), which Release the Company shall deliver to the Employee within five business days of the date of the Qualifying Termination. 
(b)The Employee acknowledges and agrees that he or she is not entitled to any severance, change in control or any other payments or benefits provided under the terms of the Company’s Severance Pay Plan, as amended, or any offer letter, agreement or memoranda, or similar agreement, plan or arrangement, whether written or oral, relating or referring to employment, severance, or any benefits or payment the Employee may receive upon termination of employment for any reason, other than the Company's stock incentive plans or qualified or non-qualified retirement benefit plans that provide for specific benefits.
(c)All payment of severance benefits under this Agreement are intended to be exempt from, but in the alternative shall comply with, Code Section 409A.
(d)All cash and cash equivalent bonus and incentive compensation paid to the Employee is subject to the Company's Compensation Adjustment Policy, which is hereby incorporated by 

reference.  This Section 6(d) shall survive the termination of the Employee's employment with the Company.
7.Successors.
(a)Company's Successors.  Any successor (or parent thereof) to the Company (whether direct or indirect and whether by purchase, lease, merger, consolidation, liquidation or otherwise) or to all or substantially all of the Company's business and/or assets shall be legally bound by this Agreement and shall assume and agree to perform the obligations under this Agreement in the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession.  For all purposes under this Agreement, the term "Company" shall include any successor (or parent thereof) to the Company's business and/or assets.
(b)Employee's Successors.  All rights of the Employee hereunder shall inure to the benefit of, and be enforceable by, the Employee's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees, as described in Section 5(a).  The Employee shall have no right to assign any of his or her obligations or duties under this Agreement to any other person or entity.
8.Notice.
(a)General.  Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid.  In the case of the Employee, mailed notices shall be addressed to him or her at the home address that the Employee most recently communicated to the Company in writing.  In the case of the Company, mailed notices shall be addressed to 12930 IH 10 West, San Antonio, Texas 78249, and all notices shall be directed to the attention the General Counsel.
(b)Notice of Termination.  Any termination by the Company for Cause or by the Employee for Good Reason shall be communicated by a written notice of termination to the other Party hereto.  Such notice shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination under the provision so indicated. 
9.Arbitration.  All disputes relating to or arising out of this Agreement or otherwise in connection with the Employee's employment with, or termination from, the Company, shall be settled by binding arbitration, in San Antonio, Texas, in accordance with the Company's standard arbitration policy and procedures.
10.Code Section 409A.  This Agreement is intended to comply with Code Section 409A and the interpretative guidance thereunder, including the exceptions for short-term deferrals, separation pay arrangements, reimbursements, and in-kind distributions, and will be administered, construed, and interpreted in accordance with such intent.  If any provision of this Agreement needs to be revised to satisfy the requirements of Code Section 409A, then such provision shall be modified or restricted to the extent and in the manner necessary to be in compliance with such requirements of the Code and any such modification will attempt to maintain the same economic results as were intended under this Agreement.  Each payment under this Agreement is intended to be treated as one of a series of separate payment for purposes of Code Section 409A and Treas. Reg. §1.409A-2(b)(2)(iii) (or any similar or successor provisions). 

(a)    For purposes of this Agreement, the Employee's employment with the Company shall be deemed to be terminated when the Employee has a "Separation from Service" within the meaning of Code Section 409A, and references to termination of employment shall be deemed to refer to a Separation from Service.  For purposes of this Section 10, and in accordance with Treas. Reg. §1.409A-1(h)(1)(ii) (or any similar or successor provisions), the Employee's Separation from Service shall be deemed to occur, without limitation, if the Company and the Employee reasonably anticipate that the level of bona fide services the Employee will perform after a certain date (the Employee's "Separation Date"), whether as an employee or as an independent contractor, will permanently decrease to less than fifty percent (50%) of the average level of bona fide services provided in the immediately preceding thirty-six (36) months.
(b)    Notwithstanding anything in this Agreement to the contrary, to the extent that payments under this Agreement are subject to Code Section 409A, are on account of a Separation from Service, and the Employee the Employee is considered a "specified employee" (as defined in Code Section 409A and Treas. Reg. §1.409A-1(c)(i) or any similar or successor provision) who otherwise would be entitled to a payment during the six-month period beginning on the Employee's Separation Date that is not otherwise excluded under Code Section 409A under the exception for short-term deferrals, separation pay arrangements, reimbursements, in-kind distributions, or any otherwise applicable exception, the payment will not be made to the Employee until the earlier of the six-month anniversary of the Employee's Separation Date or the Employee's death and will be accumulated and paid on the first day of the seventh month following the Separation Date.  
(c)    The Company does not guarantee that any payments made in connection with the Agreement will satisfy all applicable provisions of Code Section 409A.  
11.Miscellaneous Provisions.
(a)Waiver, Amendment or Substitution.  No provision of this Agreement shall be amended, modified, waived, substituted, or discharged unless the modification, waiver or discharge is agreed to in writing and signed by the Employee and by an authorized officer of the Company (other than the Employee).  No waiver by either Party of any breach of, or of compliance with, any condition or provision of this Agreement by the other Party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.
(b)Choice of Law.  The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Texas.  Subject to the requirements in Section 9 above, the jurisdiction and venue for any disputes arising under, or any action brought to enforce (or otherwise relating to), this Agreement will be exclusively in the courts in the State of Texas, Bexar County, including the Federal Courts located therein (should Federal jurisdiction exist).
(c)Severability.  The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect.
(d)Survival.  The provisions of the Company's Non-Disclosure and Non-Compete Agreement, Sections 6, 7, 9, and 11 of this Agreement, and any other provisions of this Agreement that are intended to apply, operate or have effect after the expiration or termination of the term of this Agreement, or at a time when the term of this Agreement may have expired or terminated, shall survive the expiration or termination of the term of this Agreement for any reason.

(e)Employment Taxes.  All payments made pursuant to this Agreement will be subject to withholding of applicable income and employment taxes and other authorized deductions.
(f)Deemed Resignation.  Upon the Employee's termination of employment for any reason, the Employee shall be deemed to have resigned as of the date of the Employee's termination of employment from all offices, directorships and fiduciary positions with the Company and the Company's employee benefit plans unless the Employee is affirmatively re-appointed or re-elected to such position as of the date of the Employee's termination of employment.
(g)No Representations.  Each Party acknowledges that it is not relying and has not relied on any promise, representation or statement made by or on behalf of the other Party that is not set forth in this Agreement.
(h)Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together will constitute one and the same instrument.
(i)Prior Agreements Replaced and Superseded.  Employee acknowledges and expressly agrees that this Agreement shall replace and supersede all prior arrangements, offer letters, agreements or memoranda, other similar agreements, plans, arrangements, or understandings, whether written or oral, regarding or referring to employment, severance, or any benefits or payment the Employee may receive upon termination of employment for any reason, other than any equity plans of  Chiron Guernsey Holdings L.P. Inc. or its subsidiaries, any qualified or non-qualified retirement benefit plans that provide for specific benefits, and any agreements listed in Exhibit B.
IN WITNESS WHEROF, each of the Parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the day and year first above written.
	
					
	EMPLOYEE
	 
	KINETIC CONCEPTS, INC.

	 
	 
	 
	 

	/s/ David Ball
	 
	By:
	/s/ David A. Lillback

	Name
	 
	 
	David A. Lillback

	 
	 
	 
	 
	Senior Vice President, Human Resources

	Address:
	 
	 
	 
	 

	 
	 
	 
	 

EXHIBIT A TO KEY EMPLOYEE RETENTION AGREEMENT
SEPARATION AND RELEASE AGREEMENT
Address: ________________________________________________________________
Dear __________________:
This Separation and Release Agreement (this "Release Agreement") confirms the terms of the separation of your employment from Kinetic Concepts, Inc. and any of its affiliates and subsidiaries (the "Company").  
Termination of Employment
1.You and the Company have reached a mutual agreement that your employment with the Company will terminate effective as of ________ (the "Separation Date").  As of the Separation Date, you will no longer be an employee or officer of the Company, and you hereby resign from any and all employment and managerial positions, boards and officer, director or trustee positions, if any, with the Company as of the Separation Date.  You also hereby agree to execute any other documents reasonably necessary to effectuate such resignations.   Provided that the Company requests you to perform services from the date of this Release Agreement through the Separation Date, you shall, in the Company 's sole discretion, (a) assist with the transitioning of your duties to a successor and (b) be available at reasonable times to respond to any questions that the Company may have regarding its business.  In the sole direction of the Company, you will perform these services on Company premises or by telephone. 
2.Regardless of whether you sign this Release Agreement, you will be paid your Accrued Obligations, as defined in the Key Employee Retention Agreement. As of the Separation Date, you will cease to participate in all Company benefit plans (except as provided by COBRA).  
Separation Payment and Benefits
3.Subject to your compliance with the terms and conditions of this Release Agreement, and provided that you do not revoke your consent to this Release Agreement as permitted by paragraph 14 of this Release Agreement, the Company shall, in accordance with the terms of Section 4 of the Key Employee Retention Agreement effective as of _________ (the "Key  Employee Retention Agreement"):  (a) pay, or cause to be paid, to you a separation payment of $_________ (______Dollars), less all amounts required to be withheld by law, including, but not limited to, any applicable federal, state or local taxes within five (5) business days of the Effective Date (as defined in paragraph 14 of this Release Agreement); and (b) if you timely elect COBRA health insurance continuation coverage, reimburse you for COBRA premiums for up to _______ (___) months following the date of termination.
Releases
4.You, for yourself and successors, assigns, executors and administrators, now and forever hereby release and discharge the Company, together with its respective past and present parents, subsidiaries, and affiliates, together with each of their officers, directors, stockholders, partners, employees, agents, representatives and attorneys, and each of their subsidiaries, affiliates, estates, predecessors, successors, and assigns (collectively, the "Releasees") from any and all rights, claims, charges, actions, causes of action, complaints, sums of money, suits, debts, covenants, contracts, agreements, promises, obligations, damages, demands or liabilities of every kind whatsoever, in law or in equity, whether known or unknown, suspected or unsuspected (collectively, "Claims") which you or your executors, administrators, successors or assigns ever had, now have or may hereafter claim to have by 

reason of any matter, cause or thing whatsoever:  (a) arising from the beginning of time up to the date you sign this Release Agreement including, but not limited to, any Claims (i) relating in any way to your employment relationship with the Company or any of the Releasees or (ii) arising under any federal, local or state statute or regulation, including, without limitation, the Age Discrimination in Employment Act, the Older Workers Benefit Protection Act, the Fair Labor Standards Act, Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, the Employee Retirement Income Security Act of 1974, the Sarbanes-Oxley Act of 2002, the Family Medical Leave Act of 1993, the Texas Commission on Human Rights Act, the Texas Workers' Compensation Act and/or any other applicable local or state law, each as amended; (b) relating to the termination of your employment relationship with the Company or any of the Releasees; (c) relating to wrongful employment termination; or (d) arising under or relating to any policy, agreement, understanding or promise, written or oral, formal or informal, between the Company and any of the Releasees and you, including, (A) the Offer Letter dated __________ (the "Offer Letter"); and (B) the Key Employee Retention Agreement.  Notwithstanding the foregoing, nothing contained in this paragraph 4 shall in any way release or discharge any Claims you may have (1) for payments or benefits forth in this Release Agreement, (2) for indemnification under the charter, by-laws, certificate of formation, operating agreement or other governing documents of the Company, insurance policies of or pertaining to the Company, or applicable law, (3) your rights to any vested pension or retirement benefits (including, without limitation, 401(k), or (4) that cannot be waived under applicable law.  
5.You acknowledge and agree that, except as otherwise expressly provided in this Release Agreement:  (a) the Company has fully satisfied any and all obligations whatsoever owed to you arising out of your employment with the Company, and that no further payments or benefits are owed to you by the Company or any of the Releasees, including, but not limited to, any payments or benefits under the Offer Letter or the Key Employee Retention Agreement; and (b) you have knowingly relinquished, waived and forever released any and all rights to any personal recovery in any action or proceeding that may be commenced on your behalf arising out of the aforesaid employment relationship or the termination thereof, including, without limitation, claims for backpay, front pay, liquidated damages, compensatory damages, general damages, special damages, punitive damages, exemplary damages, costs, expenses and attorneys' fees. 
		
	6.
	You agree to indemnify the Company and hold it harmless for any claims brought by any taxing authority against any of the Releasees seeking payment of taxes, penalties and/or interest related to the assessment, determination and/or reporting of taxes under federal, state and/or local law, including, without limitation, payment of attorneys' fees for counsel selected by the Company for its defense of such matters and costs.

Equity Awards
7.You understand and acknowledge that any outstanding equity awards will be governed by the terms of the award agreements respecting such awards, and that this Release Agreement does not alter or amend the terms thereof.  The Company agrees that for purposes of such awards your separation of employment shall be treated as one other than for cause.  
Covenants/Confidentiality
8.You acknowledge and agree that during your employment with the Company you have developed and had access to confidential trade secret information.  Accordingly, notwithstanding any provision of this Release Agreement to the contrary, you hereby reaffirm, and agree to comply with the Non-Disclosure and Non-Compete Agreement, a form of which is attached hereto as Annex A (the 

"Covenants Agreement").  You further agree that the Covenants Agreement shall remain in full force and effect as if restated herein.  
9.You agree not to take any action or to make any statement, written or oral, that disparages or criticizes the business or management of the Company or any of its respective directors, officers, agents, or employees.  Except as required or permitted by paragraphs 11 or 12 below, you further agree not to take any action that is intended to, or that does in fact, damage the business or reputation of the Company or its affiliates, or the personal or business reputations of any of their respective directors, officers, agents, or employees, or that interferes with, impairs or disrupts the normal operations of the Company or its affiliates.  
10.You agree that you will not disclose this Release Agreement or its terms to any person, except (a) to your immediate family, provided that prior to such disclosure, you inform your immediate family that they are also bound by confidentiality and you shall be responsible for any such disclosure by your immediate family; (b) as may be required for obtaining legal or tax advice, or future employment provided that prior to such disclosure you will inform your legal or tax advisor or potential employer that they are bound by confidentiality and you shall be responsible for any such disclosure by your legal or tax advisor or potential employer; (c) for the filing of income tax returns; (d) as may be required by law, provided that you shall promptly notify the Company prior to making any disclosure required by law so that the Company may seek a protective order or other appropriate remedy; or (e) in any proceeding to enforce this Release Agreement.
11.You agree that you will, for up to one year following your termination of employment with the Company, at the Company's request, cooperate fully, at such times that do not unreasonably interfere with your personal or business activities, with the Company in any regulatory or legal matter that involves the Company, or its then-current or former officers, directors, employees or agents, about which you may have knowledge or information.  Your cooperation may include, but not be limited to, the following: (a) appearing for an interview; (b) answering all questions fully and truthfully; (c) appearing for depositions and/or at trial related to any claim, action or litigation in which the Company becomes a party; and (d) meeting with representatives of the Company to assist in preparation for such depositions and/or trials.
12.Nothing in this Release Agreement shall prevent you from providing truthful and accurate information to any government agency, internal regulating body or as otherwise may be required by law.
Return of Company Property
13.On or before the date you execute this Release Agreement, you will return all property in your possession, custody or control which belongs to the Company, including without limitation, keys, credit cards, computers, phone cards and other physical property of the Company, and any of the Company's documents, reports, files, memorandum, records, software and other media, whether kept in paper or electronic format, and neither you nor anyone acting on your behalf shall maintain copies, duplicates, reproductions or excerpts of any such property.  
Voluntary Waiver
14.You understand and agree that the Company is under no obligation to provide the payments and benefits provided in this Release Agreement absent your consent to the terms of this Release Agreement, and that you are under no obligation to consent to this Release Agreement.  You acknowledge and agree that (a) the Company has advised you of your right to consult with an attorney prior to executing this Release Agreement, (b) you have carefully read and fully understand all of the provisions of this Release Agreement, and (c) you are entering into this Release Agreement knowingly, freely and 

voluntarily in exchange for good and valuable consideration.  You shall have twenty-one (21) calendar days from the date of this Release Agreement to consider this Release Agreement, although you may sign it sooner; provided, however, that if the termination of your employment is part of an exit incentive or employment termination program, you shall have forty-five (45) days from the date of this Release Agreement to consider this Release Agreement and the Older Workers Benefit Protection Act chart that is attached as Annex C to this Release Agreement.  Once you have signed this Release Agreement, you shall have seven (7) additional calendar days from the date of execution to revoke your consent to this Release Agreement.  Any such revocation shall be made in writing so as to be received by the Senior Vice President, Human Resources, prior to the eighth (8th) calendar day following your execution of this Release Agreement.  If no such revocation occurs, this Release Agreement shall become effective on the eighth (8th) calendar day following your execution of this Release Agreement (the "Effective Date").  In the event that you revoke your consent or you do not sign this Release Agreement within the applicable review period, this Release Agreement shall be null and void, and the Company shall not be obligated to provide you with any of the payments or benefits set forth in this Release Agreement.
Governing Law; Dispute Resolution
15.This Release Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Texas, without reference to its choice of law rules.  
16.No waiver by either party of any breach by the other party of any condition or provision of this Release Agreement to be performed by such other party shall be deemed a waiver of any other provision or condition at the time or at any prior or subsequent time.  This Release Agreement and the provisions contained in it shall not be construed or interpreted for or against either party because that party drafted or caused that party's legal representative to draft any of its provisions.
17.Any claim or controversy arising out of or relating to this Release Agreement, your employment with or separation from the Company, or arising out of any other transaction or occurrence with the Releasees, shall be submitted to final and binding arbitration in Bexar County, Texas according to the procedures set out in the Company's Arbitration Policy, a copy of which is attached hereto as Annex B.  With an adequate opportunity to consult with legal counsel, you have knowingly and voluntarily waived any right to trial by jury of any dispute with any of the Releasees, notwithstanding contrary provisions of any federal, state or local law, regulation or ordinance.  Notwithstanding the foregoing provisions, if you breach any of your restrictive covenants, the Company shall have the right to seek immediate injunctive relief in the form of a temporary restraining order or preliminary injunction, enjoining you from such further breach of those provisions of this Release Agreement, pending a final ruling by the arbitrator.  
No Admission of Wrongdoing
18.Nothing contained in this Release Agreement shall be deemed to constitute an admission or evidence of any wrongdoing or liability by you or by the Company or any of the other Releasees.
Enforceability
19.In the event that any one or more of the provisions of this Release Agreement, including the Exhibits A, B and C (if applicable) hereto, are held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remainder hereof will not in any way be affected or impaired thereby and any such provision or provisions will be enforced to the fullest extent permitted by law.  Moreover, if any one or more of the provisions contained in this Release Agreement, including the Exhibits A, B and C (if applicable) hereto, shall be held to be excessively broad as to duration, activity or subject, such provisions 

shall be construed by limiting and reducing them so as to be enforceable to the maximum extent allowed by applicable law.  
Successors and Assigns
20.This Release Agreement shall inure to the benefit of and be binding upon the Company and any successor organization which shall succeed to the Company by merger or consolidation or operation of law, or by acquisition of assets of the Company.  This Release Agreement is personal to you and may not be assigned by you.  In the event of your death prior to the Company's having made or paid to you any or all of the payments and benefits referenced in this Release Agreement, the Company shall instead make or pay to your estate, as and when otherwise due hereunder, all such then remaining payments and benefits.
Entire Agreement
21.The terms described in this Release Agreement, including in Exhibits A, B and C (if applicable) hereto, set forth the entire agreement and understanding of the parties and supersede all prior agreements, arrangements and understandings, written or oral, between the parties, including, but not limited to, the Offer Letter and the Key Employee Retention Agreement, provided, however, that as specifically provided in paragraph 8 above, the Covenants Agreement remains in full force and effect.  You acknowledge and agree that you are not relying on any representations or promises by the Company, other than those set forth herein, with regard to the subject matter, basis or effect of this Release Agreement or otherwise.  This Release Agreement may not be altered or modified other than in a writing signed by you and an authorized representative of the Company.
*        *        *
Please indicate your agreement to the foregoing terms by signing and dating the Release Agreement in the space provided below.  If you decide to revoke your consent to the Release Agreement, it must be in writing and be received by me at the above address before the close of business on the seventh day after execution of this Release Agreement.
	
					
	 
	 
	Very truly yours,

	 
	 
	Kinetic Concepts, Inc.

	 
	 
	By:
	 

	 
	 
	 
	Name
	 

	 
	 
	 
	Title
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	Agreed to and Accepted By:
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	Name
	 
	 
	 
	 

	 
	 
	 
	 
	 

	Date:10.19 Piccinini Employment Agreement 1

	
		
	
	Tel. + 39 02 4571741
Fax + 39 02 457174210 
www.kci-medical.it

Assago,  2013

TRA

la KCI MEDICAL S.r.l. (qui di seguito denominata “La Società”), con sede legale in Assago, Via Meucci n. 1, C.F. 10804870151
    
E

la Sig.ra Laura Piccinini, nata a  il  e residente in  C.F. , viene stipulato il seguente

CONTRATTO DI LAVORO SUBORDINATO a TEMPO INDETERMINATO

1) DECORRENZA E DURATA
Il contratto di lavoro avrà inizio il giorno 3 febbraio 2013 e proseguirà a tempo indeterminato.

2) CONTRATTO COLLETTIVO NAZIONALE dei LAVORATORI
Il presente contratto di lavoro subordinato sarà soggetto alle norme di cui al C.C.N.L. per i dirigenti di aziende del terziario, distribuzione e servizi (il “CCNL”).

3) INQUADRAMENTO E FUNZIONI
Le è assegnata la qualifica di “Dirigente”, secondo la classificazione del personale prevista dal CCNL e mansioni di Vice President, Core Markets, di gestione delle operazioni Core Commercial a livello internazionale come necessario, unitamente ad altre funzioni indicate dal Senior Vice President, International di KCI.

4) TRATTAMENTO RETRIBUTIVO
La sua retribuzione annua lorda è pari ad euro 280.000 (duecento ottantamila/00), che sarà corrisposto in 14 mensilità.
Sulla base di quanto stabilito dal CCNL, la retribuzione annua lorda include il superminimo assorbibile e deve intendersi comprensiva anche di ogni futuro incremento retributivo stabilito dal contratto collettivo.
Dall’importo lordo di cui sopra, suddiviso in 14 mensilità annue, verranno dedotte ritenute 

 

Assago,  2013

BETWEEN 

KCI MEDICAL S.r.l. (hereinafter the “Company”), with registered office in Assago, Via Meucci no. 1, taxpayer’s code number 10804870151
    
AND

Mrs Laura Piccinini, born in  on  and residing in , taxpayer’s code number , the following 

OPEN ENDED EMPLOYMENT AGREEMENT 

is entered into

1) START DATE AND TERM
This employment agreement shall start on 3 February 2013 and shall continue on an open-ended basis.

2) NATIONAL COLLECTIVE BARGAINING AGREEMENT 
This employment agreement shall be governed by the provisions of the national collective bargaining agreement (C.C.N.L.) applied to executives of  commercial companies.

3) CLASSIFICATION AND DUTIES
You will be classified as executive (Dirigente) pursuant to the staff classification provided by the C.C.N.L. and you will have duties as Vice President, Core Markets, handling Core Commercial Operations throughout the world as required, along with such other duties as required by KCI’s Senior Vice President, International.

4) SALARY
Your gross salary shall be equal to EUR 280,000 per year (two hundred eighty thousand /00), payable in 14 instalments
According to the CCNL , the gross salary per year shall include the superminimum absorbable (superminimo assorbibile) and shall be meant as inclusive also of any future salary increase established by the collective bargaining agreement.
From the aforementioned amount, divided into 14 monthly instalments per year, social security and tax

	
		
	KCI Medical s.r.l.
Via A. Meucci, 1
20090 Assago, MI
Italy
	KKCI Medical s.r.l. con socio unico 
(((soggetta a direzione e coordinamento di KCI UK Holding Ltd.)
CCapitale Sociale 4.900.000 Euro (i.v.) – P.IVA/C.F. 10804870151
RRegistro Imprese MI n.°330579 – REA/CCIAA MI 1406540

	
		
	
	Tel. + 39 02 4571741
Fax + 39 02 457174210 
www.kci-medical.it

previdenziali e fiscali di legge.

Quale ulteriore compenso per il Suo ingresso nella nostra Società, Le verrà corrisposto un bonus speciale pari a un importo lordo di euro 50.000 dedotte le ritenute di legge. Tale bonus (Signing Bonus) Le verrà corrisposto dopo 30 giorni dalla data di assunzione.  In caso di Sue dimissioni volontarie entro un anno dalla data di inizio, Le sarà richiesto di rimborsare alla Società l’importo del Signing Bonus.

Quale ulteriore compenso, finché ricoprirà questa posizione, riceverà una indennità mensile per spese alloggio pari a euro 7.500.

Le comunichiamo altresì che Lei ha diritto a partecipare al programma internazionale di incentivazione denominato A.I.B. (Annual Incentive Bonus), che consiste in un piano di incentivazione correlato al raggiungimento di obiettivi sia individuali che aziendali. Sulla base di questo piano incentivante Le potrà essere assegnato, qualora ne ricorrano le condizioni, un bonus pari al 35% della sua retribuzione annua lorda (i.e. la menzionata percentuale si applicherà sulla sola retribuzione annua lorda di cui alla clausola 4, primo paragrafo, che precede, con esclusione dalla base di calcolo di eventuali benefit, bonus, etc., aggiuntivi a tale retribuzione di riferimento). L’importo  del suddetto premio sarà calcolato tenendo anche in considerazione l’incidenza dello stesso sulle mensilità aggiuntive (tredicesima e quattordicesima) e sugli altri istituti legali e contrattuali indiretti (ferie, festività, permessi e altre assenze in genere). Pertanto la somma corrisposta a tale titolo non dovrà essere presa come base per ulteriori ricalcoli retributivi. In considerazione del fatto che il Suo rapporto di lavoro avrà inizio in data 3 febbraio 2014, Lei non avrà alcun diritto a ricevere alcun importo a titolo di A.I.B. con riferimento all’anno 2013, neppure pro rata, mentre l’eventuale bonus maturato con riferimento agli obiettivi assegnatiLe per il 2014 sarà calcolato pro rata temporis, per il periodo corrente dal 3 febbraio 2014 al 31 dicembre 2014. 
La Sua posizione Le consentirà di partecipare anche all’Executive Equity Incentive Plan gestito da Chiron Guernsey Holdings L.P. Inc, la controllante di KCI. Lei sarà proposta per partecipare al piano di incentivi a lungo termine rappresentato da 125.000 Profits Interest Units (“PIU”) e soggetto alle relative condizioni di assegnazione.  Le PIU sono emesse da Chiron Guernsey Holdings L.P. Inc., la società di private equity che detiene KCI.  Come visto assieme 

 

withholdings shall be deducted as provided by law.

As additional consideration for joining the Company, you will receive a one-time bonus of EUR 50,000 minus required withholdings.  This bonus (Signing Bonus) is payable 30 days following your start date with the Company. Should you voluntarily resign your position within one-year of your start date, you will be required to reimburse the Company the amount of your Signing Bonus.

As an additional consideration, while you are in this role, you will receive a monthly housing allowance of  EUR 7,500.

Furthermore, we inform you that you will be included in the international incentive programme called A.I.B. (Annual Incentive Bonus), which consists of an incentive plan linked to the achievement of personal and company goals. On the basis of the incentive plan, we may grant you a bonus equal to 35% of your yearly gross salary (i.e. the mentioned percentage will apply exclusively on the yearly gross salary indicated under previous clause 4, first paragraph, thus excluding any additional benefit, bonus, etc. from the salary of reference). When calculating said bonus we will take into consideration its incidence on any additional monthly pay (thirteenth and fourteenth month salary) and on other indirect legal and contractual provision (vacations, public holidays, leaves and other absences in general). Therefore the amount thus granted shall not be taken into consideration for any further pay recalculation. In consideration of your hiring date occurring on 3 February 2014, you will not be eligible to receive any A.I.B. relating to year 2013, not even on a pro rata basis, whereas the bonus accrued in relation to the goals assigned for year 2014 will be calculated pro rata temporis, taking into account the period between 3 February 2014 and 31 December 2014.

Your position is eligible for participation in the Executive Equity Incentive Plan maintained by KCI’s parent, Chiron Guernsey Holdings L.P. Inc. You will be recommended for a long term incentive award in the form of 125,000 Profits Interest Units (“PIUs”), subject to vesting conditions described therein.  These PIUs are issued by Chiron Guernsey Holdings L.P. Inc., the private equity partnership that owns KCI.  As discussed with you, the PIUs represent a participation in the appreciation of the value of the partnership over time.  The PIUs, when issued, will have a base distribution threshold based on the value per Class A 

	
		
	KCI Medical s.r.l.
Via A. Meucci, 1
20090 Assago, MI
Italy
	KKCI Medical s.r.l. con socio unico 
(((soggetta a direzione e coordinamento di KCI UK Holding Ltd.)
CCapitale Sociale 4.900.000 Euro (i.v.) – P.IVA/C.F. 10804870151
RRegistro Imprese MI n.°330579 – REA/CCIAA MI 1406540

	
		
	
	Tel. + 39 02 4571741
Fax + 39 02 457174210 
www.kci-medical.it

a Lei, le PIU rappresentano una partecipazione all’aumento di valore di  Chiron Guernsey Holdings L.P. Inc. nel corso del tempo.  Quando emesse, le PIU avranno un limite di distribuzione di base fondato sul valore di ciascuna unità di Classe A di Chiron Guernsey Holdings L.P. Inc. alla data di assegnazione (simile al prezzo di esercizio di un’opzione).  Pertanto, le PIU non avranno valore al momento dell’assegnazione, ma nel tempo il loro valore potrà potenzialmente aumentare all’aumentare di valore di Chiron Guernsey Holdings L.P. Inc.. 50% delle Profits Interest Units saranno assegnate con criterio temporale, ossia in percentuale del 25% verranno assegnate al primo anniversario dell’assegnazione ed il restante 75% proporzionalmente su base trimestrale nel corso di 36 mesi; e 50% delle Profits Interest Units verranno assegnate al raggiungimento di certi obiettivi di investimento della controllante. Le saranno fornite ulteriori informazioni sulle PIU separatamente quando il comitato per i compensi approverà l’assegnazione a Suo favore.
Le Parti convengono che qualunque valore e/ o guadagno dovesse derivarLe dal PIU è escluso dalla base di calcolo per qualunque istituto retributivo diretto ed indiretto, ivi compreso il trattamento di fine rapporto e l’indennità sostitutiva del preavviso.

5) SEDE DI LAVORO
La Sua sede di lavoro sarà presso la sede della società sita in Assago,Via Meucci 1.
Lei si impegna comunque ad accettare qualsiasi cambiamento e/o integrazione di territorio che si rendesse necessaria per comprovate ragioni tecnico-organizzative e secondo le norme vigenti dal CCNL.
In considerazione delle sue funzioni e mansioni, Le potrà essere richiesto di viaggiare in trasferta in Italia e all’estero e le parti concordano che tale caratteristica è da considerarsi quale requisito essenziale del ruolo che lei ricoprirà all’interno della società. Pertanto il trattamento retributivo indicato al punto 4 che precede è da intendersi omnicomprensivo anche del pagamento per tale obbligazione e, quindi, nulla potrà esserle corrisposto a titolo di indennità di trasferta. 

6) RIMBORSO SPESE E AUTO AZIENDALE
Mensilmente la Società le rimborserà le spese direttamente connesse allo svolgimento del rapporto di lavoro, purché tali spese siano state preventivamente approvate dalla Società e previa presentazione dei relativi giustificativi ai sensi e nel rispetto delle disposizioni fiscali vigenti e delle policy aziendali in materia.

 
unit of the partnership on the date of grant (similar to an option exercise price).  As such, the PIUs will have no value on the date of grant but will, over time, increase in potential value if the partnership increases in value.  50% of the Profits Interest Units will be time vesting units, with 25% of the time vesting units to cliff vest on the first anniversary of grant and the remaining 75% to vest rateably on a quarterly basis over 36 months; and 50% of the Profits Interest Units will vest based on achievement of certain investment milestones for the parent company.  More information on the PIU award will be provided to you separately upon approval of your grant by the compensation committee.
The Parties expressly agreed that any value/earn arisen for you by the PIU is excluded from the calculation of any direct or indirect remuneration elements, and from the severance payment and indemnity in lieu of notice.

5) PLACE OF WORK
Your place of work shall be at the Company’s headquarters in Assago, Via Meucci 1.
You undertake, however, to accept any change and/or territorial expansion which should be necessary for proved technical-organizational reasons and in compliance with the current provisions of the C.C.N.L..
Considering your duties and tasks, you may be requested to go on business trip in Italy and abroad and the Parties agree that this is an essential requirement of the position you are going to have in the Company. Therefore the remuneration mentioned under point 4) above is to be understood as covering also such requirement and nothing shall be paid to you by way of travel allowance.

6) EXPENSE REIMBURSEMENT AND COMPANY CAR
The Company shall monthly reimburse expenses directly related to your employment, provided they have been previously approved by the Company and are submitted with relevant receipts pursuant to, and in compliance with, tax regulations in force and applicable corporate policies.

	
		
	KCI Medical s.r.l.
Via A. Meucci, 1
20090 Assago, MI
Italy
	KKCI Medical s.r.l. con socio unico 
(((soggetta a direzione e coordinamento di KCI UK Holding Ltd.)
CCapitale Sociale 4.900.000 Euro (i.v.) – P.IVA/C.F. 10804870151
RRegistro Imprese MI n.°330579 – REA/CCIAA MI 1406540

	
		
	
	Tel. + 39 02 4571741
Fax + 39 02 457174210 
www.kci-medical.it

Per l’esercizio delle funzioni correlate al suo ruolo, Le verrà data in dotazione un’autovettura aziendale, che potrà utilizzare anche ad uso privato, secondo le vigenti procedure interne. Al riguardo il relativo controvalore fissato dalla legge verrà imputato mensilmente in sede di elaborazione del suo cedolino paga, allo scopo di conteggiare i contributi previdenziali e l’Irpef da lei dovuti.
Saranno a suo carico le ammende derivanti da contravvenzioni alle norme del codice di circolazione. 

7) FERIE E PERMESSI RETRIBUITI
Lei avrà diritto ad un periodo di ferie annuali retribuite alle condizioni e nei limiti di cui al CCNL. 

8) ORARIO DI LAVORO
Per quanto concerne le disposizioni in ordine all’orario di lavoro, si rinvia alle norme di cui al già richiamato CCNL. 

9) TERMINI DI PREAVVISO
Nel caso di risoluzione del rapporto di lavoro le Parti avranno l’obbligo di osservare i termini di preavviso previsti dal CCNL.

10) OBBLIGO DI FEDELTA’ E RISERVATEZZA
Lei dà atto che il rapporto con la Società ha caratteristiche di fiducia e riservatezza. Si impegna, pertanto, a svolgere l'attività con regolarità, diligenza e correttezza professionale, in osservanza della politica della Società, che con la presente dà atto di conoscere, nonché nel rispetto delle responsabilità connesse alla propria posizione e alle proprie funzioni.
Lei si impegna a non rivelare a terzi, né in costanza del rapporto di lavoro né successivamente alla cessazione dello stesso, alcuna informazione riservata della Società, con particolare riguardo alle informazioni di natura finanziaria, tecnica o commerciale. Parimenti, Lei non utilizzerà le informazioni per scopi diversi dai legittimi fini sociali e altresì dà atto che tutti gli scritti e gli altri documenti il cui contenuto possa in qualsiasi modo riguardare l’attività sociale sono di proprietà esclusiva della Società e che gli stessi non possono essere portati all'esterno salva previa autorizzazione scritta della Società. Alla risoluzione del rapporto di lavoro per qualsivoglia motivo, compreso il pensionamento, Lei dovrà prontamente consegnare alla Società (senza trattenere alcuna copia) tutti i fascicoli, i documenti e gli altri scritti che riguardino gli interessi o l’attività aziendale della Società o di altra società del gruppo.

 

In order to perform the duties related to your position, you will be granted a company car which you are entitled to use also for private use according to the internal policies in force. In that respect, the relevant value as established by law shall be monthly  appropriated upon processing your payroll for the purpose of calculating  the social security contributions and Irpef incumbent on you.
You shall bear fines resulting from violation of road traffic regulations.

7) VACATIONS AND PAID LEAVES
You will be entitled to a yearly period of paid vacation under the terms, and within the limits, provided by C.C.N.L.

8) WORKING TIME
As to working time regulations, we refer to the provisions of the already mentioned C.C.N.L.

9) NOTICE PERIOD
Should the employment be terminated the parties shall be obliged to comply with the notice terms provided by the C.C.N.L.

10) LOYALTY AND CONFIDENTIALITY
You acknowledge that the relationship with the Company relies on loyalty and confidentiality. Therefore, you undertake to regularly perform your activity with care and professional fairness, in compliance with the corporate policy, which you acknowledge to know, whilst observing the responsibilities related to your position and duties.
You undertake not to disclose to third parties, either while in the employ of the Company or after its termination, any confidential information of the Company, specifically as to financial, technical or commercial information. Likewise you shall not use the information for purposes other than lawful corporate purposes. Furthermore you acknowledge that all the papers and the other documents, whose content may in any manner concern the corporate activity, exclusively belong to the Company and they cannot be carried outside its premises without written authorization of the Company. Upon terminating the employment for any reason whatsoever, including retirement, you shall promptly deliver to the Company (without withholding any copy thereof) all the files, documents and other papers which concern the interests or the corporate activity of the Company or other company of the group.

	
		
	KCI Medical s.r.l.
Via A. Meucci, 1
20090 Assago, MI
Italy
	KKCI Medical s.r.l. con socio unico 
(((soggetta a direzione e coordinamento di KCI UK Holding Ltd.)
CCapitale Sociale 4.900.000 Euro (i.v.) – P.IVA/C.F. 10804870151
RRegistro Imprese MI n.°330579 – REA/CCIAA MI 1406540

	
		
	
	Tel. + 39 02 4571741
Fax + 39 02 457174210 
www.kci-medical.it

11) DIVIETO DI STORNO DI DIPENDENTI E PATTO DI NON CONCORRENZA

(i) Per tutta la durata del rapporto di lavoro e per 12 mesi dalla cessazione dello stesso, Lei non potrà, direttamente o indirettamente, contattare alcun amministratore, dipendente o collaboratore della Società con il fine di proporre loro la risoluzione del rapporto di lavoro esistente per instaurare un rapporto di lavoro di natura subordinata o autonoma con qualsiasi soggetto diverso che svolga attività anche non in concorrenza con quella svolta dalla Società. 
In ogni caso, Lei non potrà assumere o far sì che venga assunto da terzi alcun amministratore, dipendente o collaboratore della Società per tutta la durata del rapporto di lavoro e per 12 mesi dalla cessazione dello stesso.

(ii) Lei si obbliga, ai sensi dell'art. 2125 cod. civ., per il periodo di 6 mesi a decorrere dal giorno della cessazione del rapporto di lavoro, per qualunque causa avvenuta, a non svolgere direttamente o indirettamente alcuna attività in favore di società, anche cooperative, enti, organizzazioni o persone fisiche, che possano trovarsi in concorrenza con l'attività svolta dalla Società. 
L'obbligo di astensione comporta che nessuna attività a favore dei soggetti di cui sopra possa essere svolta sia direttamente, che per interposta persona od ente, sia in proprio, in forma autonoma o subordinata, anche occasionale o gratuita, ovvero in qualità di associato in partecipazione o socio con prestazioni accessorie, sia quale amministratore o institore, indipendentemente dalle mansioni oggetto della futura prestazione lavorativa.

Ai fini del presente patto, per “attività in concorrenza”, a titolo esemplificativo, si intende qualsivoglia attività inerente ai seguenti settori (a) terapia per la pressione negativa delle piaghe e (b) cure avanzate delle piaghe, incluse a titolo esemplificativo e non esaustivo le attività svolte dalle società elencate all’Allegato A al presente contratto e società a queste collegate, nonché ai settori di attività nei quali Lei abbia operato nei 12 mesi precedenti la cessazione del rapporto di lavoro.

 

11) NON SOLICITATION AND NON COMPETITION COVENANT

(i) You shall not, during your employment contract and for a period of 12 months from the termination of your employment induce or attempt to induce or entice away or engage (directly or indirectly) any director, officer or employee in the Company to leave employment with the Company in order to canvass them to enter into an employment, subordinated or not, with another Company performing any kind of activity, even if non in competition with the Company. 
In any case, you shall not hire or cause to be hired any director, officer or employee in the Company during your employment and for a period of 12 months from the termination of your employment.

(ii) You undertake, in accordance with Article 2125 of the Italian Civil Code, that you will not, for a period of 6 months after the termination of the employment contract for whatever reason, be involved in any activity (directly or indirectly) for the benefit of any company, organisation or individual which is in competition or likely to be in competition with the activities carried out by the Company. 
The obligation set out above means that you will not carry out any activity for the above-mentioned entities, either personally or behind a sham person or body, as a self-employed person or as a subordinate employee, even occasionally or for free, as a partner, director, employee, seconder, consultant or agent, independently from your duties in future employment.

For the purposes of this clause, by way of example “activity in competition” includes any activity related to the sectors of (a) negative pressure wound therapy and (b) advanced wound care and including but not limited to, the activities carried out by entities, and their affiliates, set forth on Exhibit A to this contract and those sectors within which worked in the 12 months before the termination of your employment contract.

	
		
	KCI Medical s.r.l.
Via A. Meucci, 1
20090 Assago, MI
Italy
	KKCI Medical s.r.l. con socio unico 
(((soggetta a direzione e coordinamento di KCI UK Holding Ltd.)
CCapitale Sociale 4.900.000 Euro (i.v.) – P.IVA/C.F. 10804870151
RRegistro Imprese MI n.°330579 – REA/CCIAA MI 1406540

	
		
	
	Tel. + 39 02 4571741
Fax + 39 02 457174210 
www.kci-medical.it

(iii) L'obbligo di non concorrenza avrà validità nel seguente territorio: Italia.

(iv) Quale corrispettivo dell'obbligo di non concorrenza di cui al presente contratto, la Società si obbliga a corrisponderLe un compenso lordo annuo pari al 30% dell’ultima retribuzione annuale determinata ai sensi dell’art. 2120 cod. civ., parametrato all’effettiva durata del patto di non concorrenza pari a 6 mesi, e con l’esclusione di eventuali bonus, retribuzioni variabili, fringe benefits, etc. Tale compenso sarà corrisposto, nel caso di adempimento regolare a tutte le obbligazioni di cui al presente accordo, in rate trimestrali uguali posticipate a decorrere dalla data di cessazione del rapporto di lavoro e solo durante il periodo di vigenza del patto.

(v) Allo scopo di consentire alla Società il controllo sull'esatto adempimento dell'obbligo di non concorrenza, Lei si obbliga bimestralmente a comunicare alla Società con lettera raccomandata il nome della società, dell'ente od organizzazione o semplicemente datore di lavoro, per il quale svolgerà la propria opera o collaborazione, ovvero l'attività che svolgerà nel periodo di esecuzione del patto ed ogni modificazione e variazione dei soggetti e dell'attività non oltre il momento d'inizio o di mutamento di essi.

(vi) In caso di inadempimento anche parziale alle obbligazioni di cui alle precedenti clausole 11 (i) e 11 (ii) Lei sarà tenuta a restituire alla Società l'intera somma percepita a titolo di corrispettivo del presente patto di non concorrenza ai sensi della clausola 12 (iv), e sarà altresì tenuta al pagamento in favore della Società, a titolo di penale, di una somma pari all’ammontare dell'ultima retribuzione annuale determinata ai sensi dell'art. 2121 cod. civ., salvo ogni ulteriore risarcimento del danno.

(vii) In caso di inadempimento o di ritardo all'obbligo di informazione di cui alla clausola 11 (v), Lei corrisponderà alla Società, a titolo di penale, un importo di Euro 50,00 (Euro cinquanta/00) per ogni giorno di ritardo.

12) CLAUSOLA DI GARANZIA
Lei conferma che il Suo precedente rapporto di lavoro si è interrotto precedentemente all'inizio dell'impiego presso la Società e dichiara di essere libera da qualsivoglia vincolo impostogli in occasione di precedenti rapporti di lavoro che Le impedisca di svolgere le mansioni affidateLe con il presente contratto di lavoro.

 
(iii) The obligation provided in this clause will be valid within the following territory: Italy...

(iv) In consideration of this undertaking, the Company will pay you a gross annual amount equal to the 30% of the last gross annual salary calculated pursuant the section 2120 of the Italian Civil Code, calculated on the basis of the effective duration of the undertaking equal to 6 months, and excluding any possible bonus payment, variable remuneration, fringe benefits, etc.. This sum will be paid you by the Company in quarterly equal instalments from the date of termination of the employment contract, in respect of any obligation of the present contract and only during the enforceability period of the clause.

(v) In order to allow the Company to check the compliance with the non-competition covenant, you undertake to notify every two months, by registered letter to the Company, the name of the company, of the body or of the organisation, or simply the employer for which you will carry out your work, collaboration or activity during the period of effectiveness of the present non-competition covenant and any modification or variation of those activities or entities from the moment of variation.

(vi) In the case of failure, in whole or in part, to comply with the covenants in the sub clauses no. 11 (i) and 11 (ii) hereinabove, you will be obliged to pay back the money received from the Company as provided in clause no. 11 (iv), and to pay, as a penalty, a sum equal to last annual salary determined in accordance with article 2121 of the Italian Civil Code, with the right of the Company to obtain compensation for any other damages.

(vii) In the case of failure or delay in performance of the obligation in the sub clause no. 11 (v), you will be obliged to pay a penalty of Euro 50.00 (Euro Fifty) for any day of delay.

12) GUARANTEE
You confirm that your previous employment terminated prior to your employ in the Company and you declare that you are free of any obligation imposed by previous employments and which prevents you from carrying out the tasks assigned hereby.

	
		
	KCI Medical s.r.l.
Via A. Meucci, 1
20090 Assago, MI
Italy
	KKCI Medical s.r.l. con socio unico 
(((soggetta a direzione e coordinamento di KCI UK Holding Ltd.)
CCapitale Sociale 4.900.000 Euro (i.v.) – P.IVA/C.F. 10804870151
RRegistro Imprese MI n.°330579 – REA/CCIAA MI 1406540

	
		
	
	Tel. + 39 02 4571741
Fax + 39 02 457174210 
www.kci-medical.it

13) VARIE
Il presente contratto costituisce atto ricognitivo dei termini dell'intero accordo intervenuto tra le Parti all'atto della costituzione del rapporto di lavoro. Nessuna modifica o aggiunta al presente contratto sarà valida ed efficace se non sia in forma scritta e sottoscritta dalle Parti.
Lei garantisce altresì che adempirà ai suoi obblighi con la massima diligenza e si impegna a non accettare incarichi da terzi ovvero a svolgere attività lavorativa per conto proprio, pur se non in concorrenza con la Società, con o senza profitto.
Con la presente Lei riconosce che la Società ha assolto l’obbligo di informazione delle condizioni del rapporto di lavoro previsto dal D.Lgs. n. 152/1997.

14) DATI PERSONALI
Con la sottoscrizione del presente contratto di lavoro ed ai sensi del Decreto Legislativo 30 giugno 2003, n. 196 (di seguito, il "Decreto"), la Società, nella sua qualità di Responsabile del Trattamento, tratterà i suoi dati personali per gli scopi di seguito indicati:
(a) per l'instaurazione, la gestione e l'estinzione del rapporto di lavoro instaurato tra le Parti;
(b) per l'applicazione della normativa nazionale e comunitaria (UE), così come per l'applicazione di ordini emanati dalle competenti Autorità.
I suoi dati personali verranno trattati, per gli scopi summenzionati, da personale, in forza presso il Dipartimento delle Risorse Umane o presso altri Dipartimenti della Società, autorizzato ad agire in qualità di "persona incaricata del Trattamento" o in caso di necessità, da soggetti esterni alla Società, all'uopo debitamente nominati per iscritto. Tali dati potranno essere trattati dalla Società con l'ausilio di mezzi manuali, elettronici e/o automatizzati ed in modo idoneo a garantire la sicurezza dei suddetti dati e ad evitare accessi non autorizzati.

La Società potrà inoltre trattare, per le finalità sopra enunciate, i dati definiti dal Decreto come "dati sensibili" inclusi, a titolo esemplificativo ma non esaustivo, i dati relativi alle condizioni di salute, all'iscrizione a partiti politici o sindacati ed al credo religioso.
I dati potranno essere comunicati a professionisti, società, associazioni e consulenti legali, finanziari e/o amministrativi della Società per l'adempimento dei compiti sopraindicati.
I suddetti dati, inclusi i dati sensibili, potranno essere 

 
13) MISCELLANEA
This agreement acknowledges and incorporates the entire terms of the understandings reached by Parties upon establishing the employment relationship. No change nor addition hereto shall be valid and effective unless in writing and signed by the Parties.
You assure that you will fulfil your obligations with utmost care and undertake not to accept any assignment from third parties or carry out work activity on your own, even if not in competition with the Company, with or without profit.
You acknowledge hereby that the Company has complied with the obligation to provide information about the terms of the employment pursuant to Legislative Decree No. 152/1997.

14) PERSONAL DATA
By signing this employment agreement and pursuant to Legislative Decree 30 June 2003, No. 196 (hereinafter the "Decree"), the Company in its capacity as Data Processor, shall process your personal data for the following purposes:
(a) to establish, manage and terminate the relationship between the Parties;
(b) to apply national and EU rules, as well as to apply orders issued by the relevant Authorities.
Your personal data will be processed for the above mentioned purposes by staff of the Human Resources Department or other department authorized to act as "person in charge of Processing" or, if necessary, by external individuals appointed in writing for the purpose. The Company may process your data by manual, electronic and/or automated means in such a way as to assure their security and avoid any unlawful access.

Furthermore, for the purposes above, the Company may process data defined as “sensitive” by the Decree, including, but not limited to, data relating to health conditions, political party or trade union membership,   or religious belief.
Your data may be given to professionals, companies, associations, legal financial and/or administrative consultants of the Company for the performance of the above mentioned tasks.
Said data, including sensitive data, may be sent abroad exclusively for the performance of the above 

	
		
	KCI Medical s.r.l.
Via A. Meucci, 1
20090 Assago, MI
Italy
	KKCI Medical s.r.l. con socio unico 
(((soggetta a direzione e coordinamento di KCI UK Holding Ltd.)
CCapitale Sociale 4.900.000 Euro (i.v.) – P.IVA/C.F. 10804870151
RRegistro Imprese MI n.°330579 – REA/CCIAA MI 1406540

	
		
	
	Tel. + 39 02 4571741
Fax + 39 02 457174210 
www.kci-medical.it

trasferiti all'estero esclusivamente per l'adempimento degli scopi summenzionati.
Lei potrà esercitare i diritti previsti dall'articolo 7 del Decreto, incluso il diritto di accedere, richiedere la cancellazione e l'aggiornamento dei propri dati personali, così come il diritto di opporsi, in tutto od in parte, per motivi legittimi, al trattamenti di tali dati.
Con la sottoscrizione del presente contratto di lavoro ed ai sensi degli articoli 23 e 26 del Decreto, Lei acconsente al trattamento dei Suoi dati personali e sensibili ed ai sensi dell'articolo 43 del Decreto, al loro trasferimento all'estero per gli scopi e le modalità predette. La Società la informa che, ai sensi del Decreto Legislativo n. 196 del 30 Giugno 2003, i dati personali contenuti nel presente accordo ovvero comunque comunicati o acquisiti nel corso della sua esecuzione e le loro variazioni saranno trattati dalla Società stessa, anche per mezzo di mezzi meccanici o elettronici, allo scopo di adempiere alle obbligazioni contenute nell’accordo, per controllare e valutare la relazione tra le parti, per informare eventuali possibili acquirenti della Società o dell’azienda e per adempiere agli obblighi previsti da leggi, regolamenti e/o ordini di pubbliche autorità. La fornitura di tali dati è facoltativa, ma un rifiuto di fornirli potrebbe determinare difficoltà nell’adempimento dell’accordo.
Tali dati potranno essere comunicati a professionisti e consulenti della Società o di altre società del gruppo per il perseguimento dei fini sopra indicati. Titolare del trattamento è la Società.

Il presente contratto è sottoscritto in lingua italiana e inglese. In caso di controversia e/o interpretazione, la versione italiana prevarrà su quella inglese.

KCI MEDICAL S.R.L.

    /s/ Holly Mactaggart 
Holly Mactaggart    
VP, International Human Resources

    /s/ Michael Mathews     
Michael Mathews
Senior VP, International

 
mentioned tasks.
You may exercise the rights provided under article 7 of the Decree including the right to access your personal data, to have them eliminated and updated, as well as the right to object, in full or in part, to their treatment, for lawful reasons.
By signing this employment agreement and pursuant to articles 23 and 26 of the Decree you agree to the processing of your personal and sensitive data and pursuant to article 43 of the Decree you agree to their transferring abroad for said purposes and in said manner. The Company informs you that pursuant to Legislative Decree No. 196 of 30 June 003, the personal data contained in this agreement or in whatever manner given or obtained during its term and the relevant changes shall be processed by the Company also by mechanical or electronic means so as to fulfil the obligations contained herein, to control and assess the relationship between the parties, to inform potential purchasers of the Company or of the business and to fulfil the obligations provided by laws, regulations and/or orders of public authorities. Supplying those data is voluntary, but refusing to supply them may create difficulties in the performance of the agreement.
Those data may be given to professionals and consultants of the Company or of other companies of the group to pursue the above mentioned purposes. Data Controller is the Company.

     
                                     
This agreement is signed in Italian and English version. In case of conflict and/or interpretation, the Italian version will prevail.

KCI MEDICAL S.R.L.

    /s/ Holly Mactaggart 
Holly Mactaggart     
VP, International Human Resources
    
    /s/ Michael Mathews 
Michael Mathews
Senior VP, International

	
		
	KCI Medical s.r.l.
Via A. Meucci, 1
20090 Assago, MI
Italy
	KKCI Medical s.r.l. con socio unico 
(((soggetta a direzione e coordinamento di KCI UK Holding Ltd.)
CCapitale Sociale 4.900.000 Euro (i.v.) – P.IVA/C.F. 10804870151
RRegistro Imprese MI n.°330579 – REA/CCIAA MI 1406540

	
		
	
	Tel. + 39 02 4571741
Fax + 39 02 457174210 
www.kci-medical.it

Accetto con la presente i termini e le condizioni di cui sopra, confermo i miei dati personali come di seguito indicati e presto il mio consenso ai sensi del Decreto Legislativo 30 Giugno 2003 n. 196, al trattamento, comunicazione e trasferimento all’estero di tali dati personali e di qualsiasi loro variazione, secondo quanto indicato nella informativa ricevuta:

Nome: Laura Piccinini
Luogo e data di nascita:
Residenza:
Codice Fiscale: 

    /s/ Laura Piccinini 
Laura Piccinini

Per accettazione ed accordo, ai sensi dell'art. 1341 c.c., 2° comma, di tutte le condizioni di cui al suesteso contratto con espressa approvazione di quanto previsto alla clausola 11 (divieto di storno di dipendenti e patto di non concorrenza) . 

Assago, [] 2013

    /s/ Laura Piccinini 
Laura Piccinini

 

I hereby accept the aforementioned terms and conditions, I confirm my personal details  as reported below and I agree to the treatment, communication and transfer abroad of my personal data and any relevant change pursuant to Legislative Decree 30 June 2003 No. 196, as per the information received:
Name: Laura Piccinini
Place and date of birth:
Residence:
Taxpayer’s code number: 

    /s/ Laura Piccinini 
Laura Piccinini

By way of acceptance and agreement, according to Article 1341, second paragraph, Italian Civil Code of all conditions of the above contract with specific approval of clause 11 (non solicitation and non competition covenant).

Assago, [] 2013

    /s/ Laura Piccinini 
Laura Piccinini

	
		
	KCI Medical s.r.l.
Via A. Meucci, 1
20090 Assago, MI
Italy
	KKCI Medical s.r.l. con socio unico 
(((soggetta a direzione e coordinamento di KCI UK Holding Ltd.)
CCapitale Sociale 4.900.000 Euro (i.v.) – P.IVA/C.F. 10804870151
RRegistro Imprese MI n.°330579 – REA/CCIAA MI 1406540

	
		
	
	Tel. + 39 02 4571741
Fax + 39 02 457174210 
www.kci-medical.it

Allegato A
Exhibit A

Nell’elenco che segue devono intendersi ricomprese tutte le società collegate a quelle espressamente indicate (“Affiliates”). Ai fini del presente Allegato A, per “Affiliates” si intendono le società, di capitali e di persone, o qualsiasi altro soggetto nel quale la società menzionata detenga partecipazioni, dirette o indirette attraverso società affiliate, o che detenga partecipazioni nella società menzionata, direttamente o indirettamente per il tramite di società affiliate. 

All entities listed herein include any and all affiliates.  For purposes of this Exhibit A, “Affiliates” means any corporation, partnership or other entity in which the named entity owns any equity interest, either directly or indirectly through subsidiaries, or which owns an interest in the named entity, either directly or indirectly through subsidiaries. 

ITI Medical, Inc and Affiliates
Smith and Nephew and Affiliates
Synergy Healthcare Plc and Affiliates
GeroMed Pflege-und Medizintechnik GmbH and Affiliates
Solvay Phatma ceuticals S.A.S. and Affiliates
3M Medical Diagnostics and Affiliates
B. Braun  Melsungen AG and Affiliates
Coloplast A/S and Affiliates
Convatec Inc and Affiliates
Hartmann-Rico a.s. and Affiliates
Mölnlycke Health Care AB and Affiliates
Talley Medical Ltd. and Affiliates
Caditec Medical + Technic GmbH and Affiliates
Lohmann & Rauscher International GmbH & Co KG and Affiliates
Medela Medizin Technik GmbH & Co and Affiliates
Bständig and Affiliates
Atmos and Affiliates
Velo and Affiliates
Ligasano and Affiliates 
Sunmed and Affiliates
Wound Care Company and Affiliates
Genadyne and Affiliates
Spiracur and Affiliates
Combi Care and Affiliates
Devon Medical and Affiliates
For You Medical and Affiliates

	
		
	KCI Medical s.r.l.
Via A. Meucci, 1
20090 Assago, MI
Italy
	KKCI Medical s.r.l. con socio unico 
(((soggetta a direzione e coordinamento di KCI UK Holding Ltd.)
CCapitale Sociale 4.900.000 Euro (i.v.) – P.IVA/C.F. 10804870151
RRegistro Imprese MI n.°330579 – REA/CCIAA MI 1406540

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