Document:

EX-10.12

 Exhibit 10.12 

HALYARD HEALTH, INC. 

EXECUTIVE OFFICER ACHIEVEMENT AWARD PROGRAM 

Effective November 1, 2014 

 EXECUTIVE OFFICER ACHIEVEMENT AWARD PROGRAM 

Effective November 1, 2014 

Special Provisions Relating to 2014 

Pursuant to that certain Employee Matters Agreement (the “EMA”), dated as of October 31, 2014, between Kimberly-Clark Corporation
(“Kimberly-Clark”), and Halyard Health, Inc. (the “Company”), in connection of Kimberly-Clark’s spin-off of its health care businesses to the Company, the accrual for Business Employees (as such term is defined in the EMA)
under the Kimberly-Clark Executive Officer Achievement Award Program, the Kimberly-Clark Management Achievement Award Program and the Kimberly-Clark Achievement Incentive Plan (collectively, the “Kimberly-Clark Incentive Plans”) for the
portion of the 2014 calendar year occurring prior to the effective time of the spin-off is being transferred to Halyard on the distribution date, and Halyard has agreed to pay such awards in February 2015 based on actual results and performance
ratings. Such amounts shall be paid out pursuant to the Company’s Management Achievement Award Program. 
 In addition, the Compensation Committee of
the Company may, in its discretion, make additional incentive compensation awards for 2014 under the EOAAP to certain Business Employees based upon the performance of the Company during the remainder of the year (November and December 2014).
Accordingly, notwithstanding the eligibility requirements set forth in Section 2, each Business Employee for whom the Compensation Committee grants such an additional award for 2014 shall be a Participant in the EOAAP for such year. 

 HALYARD HEALTH, INC. 

EXECUTIVE OFFICER ACHIEVEMENT AWARD PROGRAM 

(Effective November 1, 2014) 
 1.
PURPOSE 
 This Executive Officer Achievement Award Program (“EOAAP” or the “Plan”) is effective November 1,
2014. The purpose of EOAAP is to further unite the interests of the stockholders of Halyard Health, Inc. (the “Company”) and its executive officers through the annual payment of performance-based incentive compensation to each
participating executive in the form of a cash award. 
 2. ELIGIBILITY 

Employees eligible to participate in EOAAP (the “Participants”) shall be limited to the Chief Executive Officer and other executive
officers of the Company (within the meaning of Rule 3b-7 of the Securities Exchange Act of 1934 as amended from time to time) as of March 30 of each calendar year (“performance year”) who shall receive awards under the Plan for such
performance year. An individual who becomes an executive officer after March 30 and on or before October 1 of a calendar year shall receive an award as provided in Section 3. 

3. AWARDS 
 Subject to the Compensation
Committee’s discretion to reduce such awards, each Participant shall be entitled to an award for each performance year equal to 2.0 percent of the Company’s earnings before unusual items. The Company’s independent auditors will review
the Company’s calculation of the award amount and confirm its mathematical accuracy to the Compensation Committee. 
 An individual who
becomes a Participant after March 30 and on or before October 1 of a performance year shall receive an award for that performance year based on the earnings before unusual items of the Company for each calendar quarter following the
quarter in which the individual becomes an executive officer. 
 4. PAYMENT OF AWARDS; COMPENSATION COMMITTEE DISCRETION TO REDUCE 

As soon as practicable after the end of each performance year, the Company’s independent auditors shall report to the Compensation
Committee the Company’s earnings before unusual items, and the Compensation Committee shall certify the amount of each award for that year under the provisions of this Plan. 

The Compensation Committee, in its sole discretion, based on any factors the Compensation Committee deems appropriate including objectives
established under the Company’s Management Achievement Award Program (“MAAP”) for the performance year, may reduce the award to a Participant in any year (including reduction to zero if the Compensation Committee so determines). The
Compensation Committee shall make a determination of whether and to what extent to reduce awards under the Plan for each year at such time or times as the Compensation Committee shall deem appropriate. The reduction in the amount of an award to a
Participant for a performance year shall have no effect on the amount of the award to any other Participant for such year. In the event that the Compensation Committee determines a Participant’s reduced award amount under the EOAAP based upon
objectives established under the MAAP, the Participant’s award nevertheless shall remain subject to the EOAPP. Participants under the EOAPP will be ineligible for separate awards relating to the same performance period under the MAAP. 

 Payments of awards to Participants who are employees of subsidiaries of the Company shall be paid
directly by such subsidiaries. 
 A Participant’s Separation from Service for any reason prior to the payment of the award may result in
a pro rata or other reduction to the amount of the award that would otherwise be payable based upon actual performance over the relevant performance period, as shall be determined fair and equitable by the Compensation Committee in its discretion,
and any such award shall be paid no later than 60 days following the end of the performance year. A “Separation from Service” means a termination of employment with the Company or any Subsidiary. A Separation from Service with the Company
or a Subsidiary to accept immediate reemployment with the Company or a Subsidiary likewise shall not be deemed to be a Separation from Service for purposes of the Plan. A Separation from Service will also be deemed to have occurred if the
Employee’s services with the Company or any Subsidiary is reduced to an annual rate that is 20 percent or less of the services rendered, on average, during the immediately preceding three years of employment (or if employed less than three
years, such lesser period). “Subsidiary” means any domestic or foreign corporation at least twenty percent (20%) of whose shares normally entitled to vote in electing directors is owned directly or indirectly by the Company or by
other Subsidiaries, provided, however, that “at least fifty percent (50%)” shall replace “at least twenty percent (20%)” where there is not a legitimate business criteria for using such lower percentage. 

Notwithstanding any provision of EOAAP, no award shall be paid to a Participant who, in any calendar year, has discharged his principal
accountabilities in a manner deemed unacceptable by the Compensation Committee. 
 Awards shall be paid in cash no later than 60 days
following the end of the performance year, provided, however, should any payments under this Plan be delayed, no interest will be owed to the Participant with respect to such late payment. 

5. GENERAL PROVISIONS 
 The Plan shall be
administered by the Compensation Committee. The Compensation Committee, in its sole discretion, shall have the power to interpret and construe the Plan; provided, however, that no such action or determination may increase the amount of compensation
payable that would otherwise be due under an award, or otherwise result in the disallowance of a deduction to the Company under Section 162(m) of the Code or any successor section. Any interpretation or construction of any provisions of the
Plan by the Compensation Committee shall be final and conclusive upon all persons. No member of the Board or the Compensation Committee shall be liable for any action or determination made in good faith. 

This Plan is intended to be exempt or compliant with Section 409A of the Code and the guidance promulgated thereunder. Notwithstanding any
other provision of this Plan, the Company and the Compensation Committee shall administer and interpret the Plan, and exercise all authority and discretion under the Plan, to satisfy the exemption or compliance requirements of Code Section 409A
and the guidance promulgated thereunder and any noncompliant provisions of this Plan will either be void or deemed amended to comply with Section 409A of the Code and the guidance promulgated thereunder. 

“Compensation Committee” means the Compensation Committee of the Board of Directors of the Company, provided that if the requisite
number of members of the Compensation Committee are not outside directors as defined in Section 162(m) of the Code, so that the Compensation Committee qualifies as an independent compensation committee under Section 162(m) of the Code,
then the Plan shall be administered by a committee, all of whom are outside directors, appointed by the Board and consisting of two or more directors with full authority to act in the matter. 

  
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 Except as provided in this Plan, no right of any Participant shall be subject in any manner to
anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, charge, attachment, garnishment, execution, levy, bankruptcy, or any other disposition of any kind, whether voluntary or involuntary, prior to actual payment of an award. No
Participant, or any other person, shall have any interest in any fund, or in any specific asset or assets of the Company, by reason of an award that has been made but has not been paid or distributed. 

Nothing contained in the EOAAP shall be construed as a contract of employment or as a right of any Participant to be continued in the
employment of the Company, or as a limitation on the right of the Company to discharge any Participant with or without cause. 
 The
Compensation Committee may at any time amend, suspend, or discontinue the Plan or alter or amend any or all awards under the Plan to the extent (1) permitted by law and (2) that such action would not result in the disallowance of a
deduction to the Company under Section 162(m) of the Code or any successor section (including the rules and regulations promulgated thereunder); provided, however, that if any of the foregoing requires the approval by stockholders of the
Company, then the Compensation Committee may take such action subject to the approval of the stockholders. No such amendment, suspension, or discontinuance of the Plan shall, without the consent of the Participant, adversely alter or change any of
the rights or obligations under any awards previously granted the Participant. In the case of a Participant employed outside the United States, the Compensation Committee may vary the provisions of the Plan as it may deem appropriate to conform to
local laws, practices and procedures. Further, unless the stockholders of the Company shall have first approved such action, no amendment shall be made which increases the maximum amount payable with respect to any award pursuant to the formula
described in Section 3. 

  
 5EX-10.13

 Exhibit 10.13 

HALYARD HEALTH, INC. 
 EXECUTIVE
SEVERANCE PLAN 
 Effective November 1, 2014 

1. Preamble and Statement of Purpose. The purpose of this Plan is to assure the Corporation that it will have the continued dedication
of, and the availability of objective advice and counsel from, key executives of the Corporation notwithstanding the possibility, threat or occurrence of a change of control of the Corporation. 

In the event the Corporation receives any proposal from a third person concerning a possible business combination with the Corporation, or
acquisition of the Corporation’s equity securities, or otherwise considers or pursues a transaction that could lead to a change of control, the Committee believes it imperative that the Corporation and the Board of Directors of the Corporation
(the “Board”) be able to rely upon key executives to continue in their positions and be available for advice, if requested, without concern that those individuals might be distracted by the personal uncertainties and risks created by such
a possibility. 
 Should the Corporation receive or consider any such proposal or transaction, in addition to their regular duties, such key
executives may be called upon to assist in the assessment of the proposal or transaction, to advise management and the Board as to whether the proposal or transaction would be in the best interests of the Corporation and its stockholders, and to
take such other actions as the Board might determine to be appropriate. 
 2. Definitions. As used in this Plan, the following terms
shall have the following respective meanings. Notwithstanding anything herein to the contrary, the Plan shall be interpreted and administered in a manner so that any amount or benefit payable hereunder shall be paid or provided in a manner that is
exempt or compliant with the requirements of Internal Revenue Code Section 409A and applicable guidance thereunder. 

(a) Agreements: Executive Severance Agreements in substantially the forms approved by the Committee and attached hereto
as Exhibit A (for Tier I Participants) or Exhibit B (for Tier II Participants) which provide for participation and payment under this Plan. 

 (b) Annual Bonus Amount: For any Participant, the three year average of
the annual awards paid to the Participant under the Halyard Health, Inc. Executive Officer Achievement Award Program or the Halyard Health, Inc. Management Achievement Award Program, as applicable, or any successor or additional plan (the
“Bonus Program”). The three year average of the annual awards paid to the Participant will be determined based on the higher of the three year period consisting of either (i) the year in which the Relevant Date occurred (or, if the
bonus is not yet paid as of the Relevant Date, for the preceding year) and the two preceding years or, (ii) the year of the Qualified Termination of Employment (or, if the bonus is not yet paid as of the Qualified Termination of Employment, for
the preceding year) and the two preceding years. If a Participant has been paid less than three years of annual awards the Annual Bonus Amount will be determined based on the average dollar amount of the annual awards paid in prior years to the
Participant under the Bonus Program. If a Participant has not received any prior payment of annual awards, the Annual Bonus Amount under the Bonus Program will be determined as follows: 

 

	 	(i)	For a Participant classified at the Corporation’s Tier II level, as defined by the Corporation’s compensation department, the Annual Bonus Amount shall be based on the average dollar amount of the annual
awards paid over the prior three year period to other employees at the same grade level. 

  

	 	(ii)	For a Participant at the Tier I (except for the Chief Executive Officer of the Corporation), the Annual Bonus Amount shall be based on the average dollar amount of the annual awards paid over the prior three year period
to Participants at the Tier I level. 

  

	 	(iii)	For the Chief Executive Officer of the Corporation, the Annual Bonus Amount shall be based on the average dollar amount of the annual awards paid over the prior three year period to the previous Chief Executive
Officer(s) of the Corporation. 

  
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 For the purpose of determining the Annual Bonus Amount during the period beginning on the
Effective Date of the Plan and ending on the third anniversary of the Effective Date (the “Initial Period”), the Annual Bonus Amount will take into account bonus awards paid to the Participant for services in an equivalent position for the
most recent years under the Kimberly-Clark Corporation Executive Officer Achievement Award Program and/or the Kimberly-Clark Corporation Management Achievement Award Program, as if they had been earned under the Corporation’s Bonus Program for
such years. 
 Notwithstanding anything in this Plan to the contrary, this definition may be amended at the discretion of the Committee as
may be necessary for amounts payable by the Corporation (including amounts payable under other equity, incentive, or benefit programs) to comply with the definition of performance based compensation under Section 162(m) of the Code or any
successor section (including the rules and regulations promulgated thereunder). 
 (c) Average PSU Payout: For any
Participant, the three year average of the dollar amount of the PRSUs paid to the Participant under the Equity Plans, or any successor or additional plan. The three year average of the PRSUs paid to the Participant will be determined based on the
higher of two dollar amount averages computed during alternative three year periods consisting of either (i) the year in which the Relevant Date occurred (or, if the award is not yet paid as of the Relevant Date, for the preceding year) and the
two preceding years or, (ii) the year of the Qualified Termination of Employment (or, if the award is not yet paid as of the Qualified Termination of Employment, for the preceding year) and the two preceding years. If a Participant has been
paid less than three years of PRSUs, the three year average of the PRSUs paid to the Participant will be determined based on the average dollar amount of the PRSUs paid in prior years to the Participant under the Equity Plans, or any successor or
additional plan. If a Participant has not received any prior payment of PRSUs, the Average PRSU Payout under the Equity Plans, or any successor or additional plan, will be determined as follows: 

 

	 	(i)	For a Participant classified at the Tier II level, as defined by the Corporation’s compensation department, the Average PRSU Payout shall be calculated based on the prior three year average dollar amount of the
PRSUs paid to other employees at the same grade level. 

  
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	 	(ii)	For a Participant at the Tier I level (except for the Chief Executive Officer of the Corporation), the Average PRSU Payout shall be calculated based on the prior three year average dollar amount of the PRSUs paid to
Participants at the Tier I level. 

  

	 	(iii)	For the Chief Executive Officer of the Corporation, the Average PRSU Payout shall be calculated based on the prior three year average dollar amount of the PRSUs paid to the previous Chief Executive Officer(s) of the
Corporation. 

 Notwithstanding anything in this Plan to the contrary, this definition may be amended at the discretion of the
Committee to allow any amounts payable by the Corporation to comply with the definition of performance-based compensation under Section 162(m) of the Code or any successor section (including the rules and regulations promulgated thereunder).

  

	 	(d)	Cause: The term “Cause” shall mean any of the following: 

  

	 	(i)	the commission by the Participant of a felony; 

  

	 	(ii)	the Participant’s dishonesty, habitual neglect or incompetence in the management of the affairs of the Corporation; or 

  

	 	(iii)	the refusal or failure by the Participant to act in accordance with any lawful directive or order of the Corporation, or an act or failure to act by the Participant which is in bad faith and which is detrimental to the
Corporation. 

  

	 	(e)	 Change of Control: A “Change of Control” shall be deemed to have taken place upon the first of the following to occur: (i) a
third person, including a “group” as defined in Section 13(d)(3) of the Securities Exchange Act of 1934, acquires in a single transaction, or a series of transactions during a twelve-month period, shares of the Corporation having 30%
or more of the total number of votes that may be cast for the election of directors of the Corporation; or (ii) as the result of any cash tender or exchange offer, merger or other business combination, sale of assets or contested election, or
any combination of the foregoing 

  
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transactions, a majority of the members of the Board of Directors of the Corporation is replaced during any twelve-month period by directors whose appointment or election is not endorsed by a
majority of the members of the Board of Directors of the Corporation before the date of the appointment or election. 

  

	 	(f)	Code: The Internal Revenue Code of 1986, as amended. 

  

	 	(g)	Committee: The Compensation Committee of the Board. 

  

	 	(h)	Corporation: Halyard Health, Inc. and any successor thereto that assumes this Plan and the Agreements pursuant to Section 13 below. 

 

	 	(i)	Eligible Executive: Those key executives of the Corporation and its Subsidiaries who are from time to time designated by the Committee as, or who pursuant to criteria established by the Board or the Committee
are, eligible to receive an Agreement. 

  

	 	(j)	Equity Plans: The Halyard Health, Inc. Equity Participation Plan, and any successor or additional plans under which a Participant receives stock options, restricted stock, restricted stock units or other
equity-based compensation. 

  

	 	(k)	Excise Tax: The excise tax imposed by Section 4999 of the Code, together with any interest or penalties imposed with respect to such excise tax. 

 

	 	(l)	Fair Market Value: With respect to any publicly traded equity security, the reported closing price of such security on the relevant date as reported on the composite list used by The Wall Street Journal
for reporting stock prices, or, if no such sale shall have been made on that day, on the last preceding day on which there was such a sale; and with respect to any other property, the fair market value thereof as determined by the Committee in good
faith. 

  
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	 	(m)	Good Reason: Termination by the Participant for “Good Reason” shall mean the Separation from Service during the two year time period following the initial existence (without the Participant’s
express written consent) of any one of the following conditions: 

  

	 	(i)	A material diminution in the Participant’s base compensation. 

  

	 	(ii)	A material diminution in the Participant’s authority, duties or responsibilities. 

  

	 	(iii)	A material diminution in the authority, duties, or responsibilities of the supervisor to whom the Participant is required to report, including a requirement that a Participant report to a corporate officer or employee
instead of reporting directly to the board of directors of the Corporation. 

  

	 	(iv)	A material diminution in the budget over which the Participant retains authority. 

  

	 	(v)	A material change in the geographic location at which the Participant must perform the services. 

  

	 	(vi)	Any other action or inaction that constitutes a material breach by the Corporation of any agreement under which the Participant provides services. 

The Participant must provide notice to the Corporation of the existence of any of the above conditions within a period not to exceed 90 days
of the initial existence of the condition, upon the notice of which the Corporation must be provided a period of at least 30 days during which it may remedy the condition and not be required to pay the amount. 

The Participant’s right to terminate the Participant’s employment for Good Reason shall not be affected by the Participant’s
incapacity due to physical or mental illness. The Participant’s continued employment shall not constitute consent to, or a waiver of rights with respect to, any act or failure to act constituting Good Reason hereunder. 

  
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	 	(n)	Multiplier: For a Tier I Participant, two; and for a Tier II Participant, one. 

  

	 	(o)	Net After Tax Receipt: The Value of a Payment, net of all taxes imposed on a Participant with respect thereto under Sections 1 and 4999 of the Code, under Section 3121 of the Code, and any state and local
income taxes, determined by applying the highest marginal rate under Section 1 of the Code which applied to the Participant’s taxable income for the immediately preceding taxable year. 

 

	 	(p)	Participant: An Eligible Executive who is a party to an Agreement which has not been terminated in accordance with the terms of this Plan. 

 

	 	(q)	Payment: Any payment or distribution in the nature of compensation (within the meaning of Section 280G(b)(2) of the Code) to or for the benefit of a Participant, whether paid or payable pursuant to this Plan
or otherwise. 

  

	 	(r)	PRSUs: Restricted shares and/or restricted share units which are determined by the attainment of performance goals. 

  

	 	(s)	Qualified Termination of Employment: The separation of Participant’s service with the Corporation and/or its Subsidiaries either (i) within the two (2) year period following a Change of Control of
the Corporation (A) by the Corporation without Cause or, (B) by the Participant with Good Reason, or (ii) by the Corporation without Cause before a Change of Control, if a Change of Control occurs within one year after such Separation
from Service and it is reasonably demonstrated by the Participant that such Separation from Service was at the request of a third party that had taken steps reasonably calculated to effect a Change of Control or otherwise arose in connection with or
in anticipation of a Change of Control. A transfer of employment for administrative purposes among the Corporation and its Subsidiaries shall not be deemed a Qualified Termination of Employment, but if such a transfer results in the occurrence of
Good Reason, the affected Participant shall have the right to Separate from Service for Good Reason and such separation shall be a Qualified Termination of Employment. 

  
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	 	(t)	Reduced Amount: With respect to a Participant, the greatest aggregate amount of Separation Payments which (a) is less than the sum of all Separation Payments and (b) results in aggregate Net After Tax
Receipts which are equal to or greater than the Net After Tax Receipts which would result if the Participant were paid the sum of all Separation Payments. 

  

	 	(u)	Relevant Date: In the case of a Qualified Termination of Employment as described in clause (ii) of the definition of “Qualified Termination of Employment,” the date of such Qualified Termination of
Employment and, in all other cases, the date of the Change of Control. 

  

	 	(v)	Separation from Service: Termination of employment with the Corporation or a Subsidiary. A Separation from Service will be deemed to have occurred if the Participant’s services with the Corporation or a
Subsidiary is reduced to an annual rate that is 20 percent or less of the services rendered, on average, during the immediately preceding three years of employment (or if employed less than three years, such lesser period). 

 

	 	(w)	Separation Payment: With respect to a Participant, a Payment paid or payable to the Participant pursuant to this Plan or an Agreement (disregarding Section 10 of this Plan). 

 

	 	(x)	Severance Period: For a Tier I Participant, the period of two years beginning on the date of the Qualified Termination of Employment; and for a Tier II Participant, the period of one year beginning on the date of
the Qualified Termination of Employment. 

  

	 	(y)	Subsidiary: Any domestic or foreign corporation at least twenty percent (20%) of whose shares normally entitled to vote in electing directors is owned directly or indirectly by the Corporation or by other
Subsidiaries, provided, however, that “at least fifty percent (50%)” shall replace “at least twenty percent (20%)” where there is not a legitimate business criteria for using such lower percentage. 

  
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	 	(z)	Tier I Participant: A Participant whose Agreement indicates that he or she is a Tier I Participant. 

  

	 	(aa)	Tier II Participant: A Participant whose Agreement indicates that he or she is a Tier II Participant. 

  

	 	(bb)	Value: With respect to a Payment, the economic present value of a Payment as of the date of the change of control for purposes of Section 280G of the Code, as determined by the Accounting Firm using the
discount rate required by Section 280G(d)(4) of the Code. 

 3. Participation; Agreements. Eligible Executives
shall be proffered an Agreement and upon execution and delivery thereof by the Eligible Executive evidencing such Eligible Executive’s agreement not to leave voluntarily the employ of the Corporation and its Subsidiaries and to continue to
render services during the pendency of any potential Change of Control of the Corporation, such Eligible Executive shall become a Participant. Each Agreement shall indicate whether the Participant to whom it is proffered will be a Tier I Participant
or a Tier II Participant. A Participant shall cease to be a Participant in the Plan upon the termination of the Participant’s Agreement in accordance with its terms. 

4. Separation from Service of Participants. Nothing in this Plan shall be deemed to entitle a Participant to continued employment with
the Corporation and its Subsidiaries, and the rights of the Corporation to terminate a Participant’s service shall continue as fully as though this Plan were not in effect, provided that any Qualified Termination of Employment shall
entitle the Participant to the benefits herein provided. In addition, nothing in this Plan shall be deemed to entitle a Participant under this Plan to any rights, or to payments under this Plan, with respect to any plan in which the Participant was
not a participant prior to a Qualified Termination of Employment. 
 5. Payments Upon Qualified Termination of Employment. In the
event of a Qualified Termination of Employment of a Participant, a lump sum cash payment shall be made to such Participant as compensation for services rendered, in an amount or amounts (subject to any applicable payroll or other taxes required to
be withheld) equal to the sum of the amounts 

  
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specified in subsections (a) through (f) below, such payments to be made within 10 days following the later of the date of Separation from Service or the date of the Change of Control
except to the extent not yet calculable, in which case such portions shall be paid as soon as practicable following the ability to calculate the amount. Notwithstanding the foregoing, except as provided in Section 10, all amounts payable under
the terms of this Plan shall be payable no later than March 15 of the year following the later of the date of Separation from Service or the date of the Change of Control. Notwithstanding anything in this Section 5 to the contrary, any
amounts which are payable under this Plan with respect to amounts which the Executive would have been entitled to receive under a deferred compensation plan required to meet the requirements of Section 409A of the Code and the regulations
promulgated thereunder, shall be payable at the dates and in such amounts as would have been payable to the Executive under the terms of the deferred compensation plan. 

(a) Salary Plus Incentive Compensation. A lump sum amount equal to the Multiplier times the sum of (a) the
Participant’s annual base salary at the rate in effect immediately prior to the Relevant Date or, if higher, immediately before the Qualified Termination of Employment and (b) the Annual Bonus Amount; 

(b) Stock Options. All stock options that were granted to the Participant under any of the Equity Plans, including but
not limited to any substitute plans adopted prior to the Relevant Date (or any successor or additional plan), that were outstanding both on the Relevant Date and immediately before the Qualified Termination of Employment, shall vest and become
exercisable and the Qualified Termination of Employment of the Participant shall be deemed a retirement for purposes of exercising the stock options under the terms of the Equity Plans. 

(c) Restricted Stock. With respect to any restricted shares and/or restricted share units granted to the Participant
under any of the Equity Plans that were outstanding but not vested on the Relevant Date where such vesting of restricted shares and/or restricted share units was not determined by the attainment of performance goals, and which are forfeited as a
result of the Participant’s Separation from Service, a lump sum amount equal to the Fair Market Value of an equivalent number of shares of common stock of the Corporation (or such other equity security into which the restricted shares and/or
restricted share units has been converted) on the date of Separation from 

  
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Service. With respect to any PRSUs granted to the Participant under any of the Equity Plans that were outstanding but not vested on the Relevant Date and which are forfeited as a result of the
Participant’s Separation from Service, a lump sum amount equal to the Average PSU Payout. 
 (d) Successor or
Additional Stock Appreciation Right, Incentive Compensation, and Bonus Plan. A lump sum amount equal to the payment to which the Participant would have been entitled had all amounts awarded or granted to the Participant, vested or matured, under
any stock appreciation right, incentive compensation, and bonus plans, which are adopted after the effective date of the Participant’s Agreement and in which the Participant participates immediately prior to the Relevant Date, including but not
limited to any substitute plans adopted prior to the Relevant Date (or any successor or additional plan), which had not vested or matured as of the date of Separation from Service and will not vest or mature as a result of the Participant’s
Separation from Service, such payment to be determined as though such award or grant had vested or matured on the date of termination of the Participant’s employment; 

(e) Employer Portion of Retirement Plan Benefits. With respect to a Tier I Participant only, a lump sum amount equal to
the Participant’s maximum matching contribution under the Halyard Health, Inc. 401(k) Plan (the “401(k) Plan”) (or any successor or additional plans) and the Halyard Health, Inc. Supplemental Retirement 401(k) Plan (or any successor
or additional plans) (individually the “Supplemental 401(k) Plan)” and collectively, the “Retirement Benefit Plans”) to which the Participant would have been entitled if he or she had remained employed by the Corporation for the
Severance Period at the rate of annual compensation specified in Section 5(a) above except that the Annual Bonus Amount shall be treated as earned for the year in which separation occurred and the balance of the Severance Period and no award
actually earned in, and paid for, the year in which termination occurred shall be considered. Notwithstanding anything in Section 5 to the contrary, any amounts under subsection (ii) of this subparagraph which are payable due to amounts
owing to the Participant under the Supplemental 401(k) Plan shall be payable at the date such amount would have been payable if the Participant were entitled to this amount under the terms of the Supplemental 401(k) Plan; and 

  
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 (f) Medical and Dental Benefits. A lump sum amount equal to (a) the
amount of the monthly premiums that the Participant would be required to pay, if he or she elected “COBRA” continuation coverage under the medical and dental plans of the Corporation in which the Participant was participating immediately
before the Qualified Termination of Employment, based upon the premium rates in effect as of the date of the Qualified Termination of Employment, times (b) 24. 

6. No Payments on Other Termination of Employment. In the event a Participant’s employment terminates in any way that does not
constitute a Qualified Termination of Employment, no benefits shall be payable under this Plan. 
 7. Other Terms and Conditions. The
Agreement to be entered into pursuant to this Plan shall contain such other terms, provisions and conditions not inconsistent with this Plan as shall be determined by the Committee. Where appearing in this Plan or the Agreement, the masculine shall
include the feminine and the plural shall include the singular, unless the context clearly indicates otherwise. 
 8.
Non-Assignability. Each Participant’s rights under this Plan shall be non-transferable except by will or by the laws of descent and distribution. 

9. Unfunded Plan. The Plan shall be unfunded. Neither the Corporation nor the Board shall be required to segregate any assets that may
at any time be represented by benefits under the Plan. Neither the Corporation nor the Board shall be deemed to be a trustee of any amounts to be paid under the Plan. Any liability of the Corporation to any Participant with respect to any benefit
shall be based solely upon any contractual obligations created by the Plan and the Agreement; no such obligation shall be deemed to be secured by any pledge or any encumbrance on any property of the Corporation. 

10. Certain Reduction of Payments by the Corporation. 
  

	 	(a)	 Anything in this Plan to the contrary notwithstanding, in the event a reputable certified public accounting firm designated by the Corporation (the
“Accounting Firm”) shall determine that receipt of all Payments would subject a Participant to tax under Section 4999 of the Code, it shall determine whether some amount of Separation Payments would meet the

  
 12 

	 	
definition of a “Reduced Amount.” If the Accounting Firm determines that there is a Reduced Amount, the aggregate Separation Payments shall be reduced to such Reduced Amount. All fees
payable to the Accounting Firm with respect to this Section 10 shall be paid solely by the Corporation. 

  

	 	(b)	If the Accounting Firm determines that aggregate Separation Payments should be reduced to the Reduced Amount, the Corporation shall promptly give the Participant notice to that effect and a copy of the detailed
calculation thereof, and the Participant may then elect, in his or her sole discretion, which and how much of the Separation Payments that are not required to meet the requirements of Section 409A of the Code and the regulations promulgated
thereunder shall be eliminated or reduced (as long as after such election the Value of the aggregate Separation Payments equals the Reduced Amount), and shall advise the Corporation in writing of his or her election within ten days of his receipt of
notice. If no such election is made by the Participant within such ten-day period, the Corporation may elect which of such Separation Payments that are not required to meet the requirements of Section 409A of the Code and the regulations
promulgated thereunder shall be eliminated or reduced (as long as after such election the Value of the aggregate Separation Payments equals the Reduced Amount) and shall notify the Participant promptly of such election. All determinations made by
the Accounting Firm under this Section 10 shall be binding upon the Corporation and the Participant and shall be made as promptly as practicable. Following such determination, the Corporation shall pay to or distribute for the benefit of the
Participant such Separation Payments as are then due to the Participant under Section 5 of this Plan and shall promptly pay to or distribute for the benefit of the Participant in the future such Separation Payments as become due to the
Participant under this Plan. Notwithstanding the prior sentence, such determination by the Accounting Firm shall be made within 60 days of the later of a Separation from Service of the Executive or the date of the Change of Control.

  
 13 

	 	(c)	While it is the intention of the Corporation to reduce the amounts payable or distributable to a Participant hereunder only if the aggregate Net After Tax Receipts to the Participant would thereby be increased, as a
result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder, it is possible that amounts will have been paid or distributed by the Corporation to or for the
benefit of a Participant pursuant to this Plan which should not have been so paid or distributed (“Overpayment”) or that additional amounts which will have not been paid or distributed by the Corporation to or for the benefit of a
Participant pursuant to this Plan could have been so paid or distributed (“Underpayment”), in each case, consistent with the calculation of the Reduced Amount hereunder. In the event that the Accounting Firm determines that an Overpayment
has been made, based upon the assertion of a deficiency by the Internal Revenue Service against the Corporation or the Participant which the Accounting Firm believes has a high probability of success, the Participant shall repay any such benefit to
the Corporation together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code; provided, however, that no such interest shall be deemed to have been incurred and no amount shall be payable by a Participant
to the Corporation if and to the extent such repayment would not either reduce the amount on which the Participant is subject to tax under Section 1 and Section 4999 of the Code or generate a refund of such taxes. In the event that the
Accounting Firm, based upon controlling precedent or substantial authority, determines that an Underpayment has occurred, any such Underpayment shall be promptly paid by the Corporation to or for the benefit of the Participant together with interest
at the applicable federal rate provided for in Section 7872(f)(2) of the Code. Notwithstanding anything in this Plan or any Agreement to the contrary, the payment will be conditioned upon the Overpayment or Underpayment meeting the requirements
of Section 409A of the Code and the regulations promulgated thereunder. 

  
 14 

 11. No Duty to Mitigate. In no event shall any Participant be obligated to seek other
employment or take any other action by way of mitigation of the amounts payable to the Participant under any of the provisions of this Plan, and such amounts shall not be reduced whether or not the Participant obtains other employment. 

12. Termination and Amendment of this Plan. The Committee shall have power at any time, in its discretion, to amend, abandon or
terminate this Plan, in whole or in part; except that no amendment, abandonment or termination shall impair or abridge the obligations of the Corporation under any Agreements previously entered into pursuant to this Plan, except as expressly
permitted by the terms of such Agreements without the written consent of the affected Participants. 
 13. Successors. The Corporation
shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of its business and/or assets to assume expressly and agree to perform this Plan and the Agreements in the same
manner and to the same extent that the Corporation would be required to perform them if no such succession had taken place. 
 14.
Interpretation of the Plan. The Committee shall have sole and absolute authority to interpret and construe the terms of this Plan. Any interpretations, rules, decisions, or constructions by the Committee shall be final and binding on all
Participants. 
 15. Tax Treatment. The Participant shall be solely responsible for tax consequences of any payment under the Plan. The
Corporation makes no guarantee or promise regarding any tax provision, including (without limitation) compliance or exemption from Internal Revenue Code Section 409A. 

16. Effective Date. This Plan shall become effective on November 1, 2014. 

  
 15 

 Exhibit A 

Tier I Agreement 
 HALYARD HEALTH,
INC. 
 Executive Severance Agreement for Tier I Participants 

As of November 1, 2014 

AGREEMENT made effective as of the 1st day of November 2014 between HALYARD HEALTH, INC.,
a Delaware corporation, and             (the “Executive”). 
 W
I T N E S S E T H: 
 WHEREAS, the Committee has approved the Corporation
entering into severance agreements with key executives of the Corporation and its subsidiaries pursuant to the Halyard Health, Inc. Executive Severance Plan, effective November 1, 2014 and as amended from time to time thereafter (the
“Plan”); and 
 WHEREAS, the Executive is a key executive of the Corporation or one of its subsidiaries and has been selected by
the Committee as a key executive to be an Executive under the Plan; and 
 WHEREAS, should the Corporation receive or learn of any good
faith proposal by or from a reliable third person concerning a possible business combination with, or acquisition of equity securities of, the Corporation, or should the Corporation otherwise consider or pursue a transaction that could lead to a
change of control, the Committee believes it imperative that the Corporation and the Board be able to rely upon the Executive to continue in the Executive’s position, and that they be able to receive and rely upon the Executive’s advice,
if they request it, as to the best interests of the Corporation and its stockholders, without concern that the Executive might be distracted by the personal uncertainties and risks created by such a possibility; and 

 WHEREAS, should the Corporation receive or consider any such proposal or transaction, in addition
to the Executive’s regular duties, the Executive may be called upon to assist in the assessment of the proposal or transaction, advise management and the Board as to whether the proposal or transaction would be in the best interest of the
Corporation and its stockholders, and to take such other actions as the Board might determine to be appropriate; 
 NOW, THEREFORE, to
assure the Corporation that it will have the continued dedication of the Executive and the availability of the Executive’s advice and counsel notwithstanding the possibility, threat or occurrence of such a proposal or transaction, and to induce
the Executive to remain in the employ of the Corporation, and for other good and valuable consideration, the Corporation and the Executive agree as follows. 

All capitalized terms not otherwise defined herein shall have the meanings set forth in the Plan. 

(a) Executive’s Obligations. In the event a third person, in order to effect a Change of Control (as hereinafter defined), begins a
tender or exchange offer, circulates a proxy to stockholders, or takes other steps, or in the event the Corporation considers taking, or decides to take, steps that are expected to lead to a Change of Control, the Executive agrees that the Executive
will not voluntarily leave the employ of the Corporation, and will render the services contemplated in the recitals to this Agreement and the Plan, until the efforts by the third party or the Corporation to effect a Change of Control are abandoned
or until a Change of Control has occurred. 
 (b) Severance Benefits. The Corporation and the Executive agree that the Executive shall
be treated as a Tier I Participant in the Halyard Health, Inc. Executive Severance Plan, and shall receive the benefits described under the Plan. 

  
 2 

 (c) Incorporation. The terms of the Plan are incorporated into this Agreement. This
Agreement and the Plan together supersede any and all prior agreements between the Executive and the Corporation under the Plan as in effect at this time or at any prior time. From and after the Relevant Date, except as specifically provided herein,
this Agreement shall supersede any other agreement between the parties with respect to severance pay and benefits. Notwithstanding the foregoing, any previously executed noncompetition agreement shall continue in effect following the execution of
this Agreement and the Relevant Date. 
 (d) No Other Severance Pay Plan Payments. In the event of a Qualified Termination of
Employment, the Executive shall not be entitled to receive any severance benefits that would otherwise be available to the Executive under the Halyard Health Inc. Severance Pay Plan (or any successor or additional plan), or any other severance
program sponsored by the Corporation and/or any of its Subsidiaries. 
 (e) Participation in Employee Benefit Plans. The
Executive’s participation in savings, retirement, profit sharing, stock option, and/or stock appreciation rights plans of the Corporation and/or any of its Subsidiaries shall continue only through the last day of the Executive’s
employment. Any terminating distributions and/or vested rights under such plans shall be governed by the terms of those respective plans. Furthermore, the Executive’s participation in any insurance plans of the Corporation and rights to any
other fringe benefits shall except as otherwise specifically provided in such plans or corporate policy, terminate as of the close of the Executive’s last day of employment, except to the extent specifically provided to the contrary in this
Agreement. Nothing in this Agreement shall be deemed to entitle the Executive to any rights, or to payments under this Agreement, with respect to any employee benefit plan in which the Executive was not a participant prior to a Qualified Termination
of Employment. 

  
 3 

 (f) Continuing Obligations. The Executive shall retain in confidence any confidential
information known to the Executive concerning the Corporation and its business so long as such information is not publicly disclosed. 
 (g)
No Guarantee of Employment. Nothing in this Agreement shall be deemed to entitle the Executive to continued employment with the Corporation or any of its Subsidiaries and the rights of the Corporation and its Subsidiaries to terminate the
employment of the Executive shall continue as fully as if this Agreement were not in effect; provided that any Qualified Termination of Employment shall entitle the Executive to the benefits herein provided. 

(h) Indemnification. If litigation shall be brought to enforce any provision contained herein, the Corporation hereby agrees to
indemnify the Executive for the Executive’s reasonable attorney’s fees and disbursements incurred in such litigation, and hereby agrees to pay prejudgment interest on any money judgment obtained by the Executive calculated at
Citibank’s (or any successor entity) prime rate of interest in effect from time to time from the date that payment(s) to the Executive should have been made under this Agreement. The reimbursement of an attorney’s fees and disbursements
incurred in such litigation will be made on or before the last day of the calendar year following the calendar year in which the expense was incurred. 

(i) Payment Obligations Absolute. The Corporation’s obligation to pay the Executive the compensation and to make the arrangements
provided herein shall be absolute and unconditional and shall not be affected by any circumstances, including without limitation, any set-off, counterclaim, recoupment, defense or other right which the Corporation may have against the Executive or
anyone else. All amounts payable by the Corporation hereunder shall be paid without notice or demand. 

  
 4 

 (j) Severability. Any provision in this Agreement which is prohibited or unenforceable in
any jurisdiction shall as to such jurisdiction, be ineffective only to the extent of such prohibition or unenforceability without invalidating or affecting the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 (k) Successors. This Agreement
shall be binding upon and inure to the benefit of the Executive and the Executive’s estate, and the Corporation and any successor of the Corporation, but neither this Agreement nor any rights arising hereunder may be assigned or pledged by the
Executive. The Corporation shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of its business and/or assets to assume expressly and agree to perform this Agreement in
the same manner and to the same extent that the Corporation would be required to perform it if no such succession had taken place. 
 (l)
Termination. This Agreement shall terminate on the third anniversary of the effective date hereof unless either (1) a Change of Control occurs on or before such third anniversary or (2) the Committee determines to extend this
Agreement for an additional three-year term or such shorter period as it determines to be appropriate. Notwithstanding the foregoing, if at the time when this Agreement would otherwise terminate, a third party has taken steps reasonably calculated
to effect a Change of Control or a Change of Control is otherwise under consideration, then this Agreement shall automatically continue in effect until (A) a Change of Control occurs, in which event this Agreement shall thereafter remain in
effect in accordance with its terms, or (B) the Board makes a good faith determination that in its opinion, the efforts by the third party or the Corporation to effect a Change of Control have been abandoned, at which time the Agreement shall
terminate unless it is extended pursuant to clause (2) of the preceding sentence. 

  
 5 

 IN WITNESS WHEREOF, the parties have executed this Agreement on the
            day of             , 20            . 

 

			
	  
	Executive
	
	HALYARD HEALTH, INC.
		
	By:	 	 

  
 6 

 Exhibit B 

Tier II Agreement 
 HALYARD HEALTH,
INC. 
 Executive Severance Agreement for Tier II Participant 

As of November 1, 2014 

AGREEMENT made effective as of the 1st day of November 2014 between HALYARD HEALTH, INC.,
a Delaware corporation (the “Corporation”), and             (the “Executive”). 

W I T N E S S E T H: 

WHEREAS, the Committee has approved the Corporation entering into severance agreements with key executives of the Corporation and its
subsidiaries pursuant to the Halyard Health, Inc. Executive Severance Plan, effective November 1, 2014 and as amended from time to time thereafter (the “Plan”); and 

WHEREAS, the Executive is a key executive of the Corporation or one of its subsidiaries and has been selected by the Committee as a key
executive to be an Executive under the Plan; and 
 WHEREAS, should the Corporation receive or learn of any good faith proposal by or from a
reliable third person concerning a possible business combination with, or acquisition of equity securities of, the Corporation, or should the Corporation otherwise consider or pursue a transaction that could lead to a change of control, the
Committee believes it imperative that the Corporation and the Board be able to rely upon the Executive to continue in the Executive’s position, and that they be able to receive and rely upon the Executive’s advice, if they request it, as
to the best interests of the Corporation and its stockholders, without concern that the Executive might be distracted by the personal uncertainties and risks created by such a possibility; and 

 WHEREAS, should the Corporation receive or consider any such proposal or transaction, in addition
to the Executive’s regular duties, the Executive may be called upon to assist in the assessment of the proposal or transaction, advise management and the Board as to whether the proposal or transaction would be in the best interest of the
Corporation and its stockholders, and to take such other actions as the Board might determine to be appropriate; 
 NOW, THEREFORE, to
assure the Corporation that it will have the continued dedication of the Executive and the availability of the Executive’s advice and counsel notwithstanding the possibility, threat or occurrence of such a proposal or transaction, and to induce
the Executive to remain in the employ of the Corporation, and for other good and valuable consideration, the Corporation and the Executive agree as follows. 

All capitalized terms not otherwise defined herein shall have the meanings set forth in the Plan. 

(a) Executive’s Obligations. In the event a third person, in order to effect a Change of Control (as hereinafter defined), begins a
tender or exchange offer, circulates a proxy to stockholders, or takes other steps, or in the event the Corporation considers taking, or decides to take, steps that are expected to lead to a Change of Control, the Executive agrees that the Executive
will not voluntarily leave the employ of the Corporation, and will render the services contemplated in the recitals to this Agreement and the Plan, until the efforts by the third party or the Corporation to effect a Change of Control are abandoned
or until a Change of Control has occurred. 
 (b) Severance Benefits. The Corporation and the Executive agree that the Executive shall
be treated as a Tier II Participant in the Halyard Health, Inc. Executive Severance Plan, and shall receive the benefits described under the Plan. 

  
 2 

 (c) Incorporation. The terms of the Plan are incorporated into this Agreement. This
Agreement and the Plan together supersede any and all prior agreements between the Executive and the Corporation under the Plan as in effect at this time or at any prior time. From and after the Relevant Date, except as specifically provided herein,
this Agreement shall supersede any other agreement between the parties with respect to severance pay and benefits. Notwithstanding the foregoing, any previously executed noncompetition agreement shall continue in effect following the execution of
this Agreement and the Relevant Date. 
 (d) No Other Severance Pay Plan Payments. In the event of a Qualified Termination of
Employment, the Executive shall not be entitled to receive any severance benefits that would otherwise be available to the Executive under the Halyard Health Inc. Severance Pay Plan (or any successor or additional plan), or any other severance
program sponsored by the Corporation and/or any of its Subsidiaries. 
 (e) Participation in Employee Benefit Plans. The
Executive’s participation in savings, retirement, profit sharing, stock option, and/or stock appreciation rights plans of the Corporation and/or any of its Subsidiaries shall continue only through the last day of the Executive’s
employment. Any terminating distributions and/or vested rights under such plans shall be governed by the terms of those respective plans. Furthermore, the Executive’s participation in any insurance plans of the Corporation and rights to any
other fringe benefits shall except as otherwise specifically provided in such plans or corporate policy, terminate as of the close of the Executive’s last day of employment, except to the extent specifically provided to the contrary in this
Agreement. Nothing in this Agreement shall be deemed to entitle the Executive to any rights, or to payments under this Agreement, with respect to any employee benefit plan in which the Executive was not a participant prior to a Qualified Termination
of Employment. 

  
 3 

 (f) Continuing Obligations. The Executive shall retain in confidence any confidential
information known to the Executive concerning the Corporation and its business so long as such information is not publicly disclosed. 
 (g)
No Guarantee of Employment. Nothing in this Agreement shall be deemed to entitle the Executive to continued employment with the Corporation or any of its Subsidiaries and the rights of the Corporation and its Subsidiaries to terminate the
employment of the Executive shall continue as fully as if this Agreement were not in effect; provided that any Qualified Termination of Employment shall entitle the Executive to the benefits herein provided. 

(h) Indemnification. If litigation shall be brought to enforce any provision contained herein, the Corporation hereby agrees to
indemnify the Executive for the Executive’s reasonable attorney’s fees and disbursements incurred in such litigation, and hereby agrees to pay prejudgment interest on any money judgment obtained by the Executive calculated at
Citibank’s (or any successor entity) prime rate of interest in effect from time to time from the date that payment(s) to the Executive should have been made under this Agreement. The reimbursement of an attorney’s fees and disbursements
incurred in such litigation will be made on or before the last day of the calendar year following the calendar year in which the expense was incurred. 

(i) Payment Obligations Absolute. The Corporation’s obligation to pay the Executive the compensation and to make the arrangements
provided herein shall be absolute and unconditional and shall not be affected by any circumstances, including without limitation, any set-off, counterclaim, recoupment, defense or other right which the Corporation may have against the Executive or
anyone else. All amounts payable by the Corporation hereunder shall be paid without notice or demand. 

  
 4 

 (j) Severability. Any provision in this Agreement which is prohibited or unenforceable in
any jurisdiction shall as to such jurisdiction, be ineffective only to the extent of such prohibition or unenforceability without invalidating or affecting the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 (k) Successors. This Agreement
shall be binding upon and inure to the benefit of the Executive and the Executive’s estate, and the Corporation and any successor of the Corporation, but neither this Agreement nor any rights arising hereunder may be assigned or pledged by the
Executive. The Corporation shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of its business and/or assets to assume expressly and agree to perform this Agreement in
the same manner and to the same extent that the Corporation would be required to perform it if no such succession had taken place. 
 (l)
Termination. This Agreement shall terminate on the third anniversary of the effective date hereof unless either (1) a Change of Control occurs on or before such third anniversary or (2) the Committee determines to extend this
Agreement for an additional three-year term or such shorter period as it determines to be appropriate. Notwithstanding the foregoing, if at the time when this Agreement would otherwise terminate, a third party has taken steps reasonably calculated
to effect a Change of Control or a Change of Control is otherwise under consideration, then this Agreement shall automatically continue in effect until (A) a Change of Control occurs, in which event this Agreement shall thereafter remain in
effect in accordance with its terms, or (B) the Board makes a good faith determination that in its opinion, the efforts by the third party or the Corporation to effect a Change of Control have been abandoned, at which time the Agreement shall
terminate unless it is extended pursuant to clause (2) of the preceding sentence. 

  
 5 

 IN WITNESS WHEREOF, the parties have executed this Agreement on the
            day of             , 20            . 

 

			
	  
	Executive
	
	HALYARD HEALTH, INC.
		
	By:	 	 

  
 6

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