Document:

EX-10.2

 Exhibit 10.2 

EMPLOYEE MATTERS AGREEMENT 

BY AND BETWEEN 
 ZIMMER
BIOMET HOLDINGS, INC. 
 AND 

ZIMMER BIOMET SPINE, INC. 

DATED AS OF MARCH 1, 2022 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I DEFINITIONS
	  	 	1	 
			
	 Section 1.01
	 	 Defined Terms
	  	 	1	 
			
	 Section 1.02
	 	 References, Interpretation
	  	 	5	 
			
	 Section 1.03
	 	 Relation to Other Documents
	  	 	5	 
		
	 ARTICLE II GENERAL PRINCIPLES
	  	 	6	 
			
	 Section 2.01
	 	 Allocation of Assets and Liabilities
	  	 	6	 
			
	 Section 2.02
	 	 Employment with SpinCo
	  	 	7	 
			
	 Section 2.03
	 	 Establishment of SpinCo Plans and Trusts
	  	 	9	 
			
	 Section 2.04
	 	 Termination of Participating Company Status
	  	 	9	 
			
	 Section 2.05
	 	 On-Leave US Employees
	  	 	9	 
		
	 ARTICLE III U.S. QUALIFIED AND
NON-QUALIFIED RETIREMENT PLANS
	  	 	10	 
			
	 Section 3.01
	 	 Parent Retirement Plan
	  	 	10	 
			
	 Section 3.02
	 	 US and Puerto Rico Savings Plans
	  	 	10	 
			
	 Section 3.03
	 	 NQDCPs
	  	 	11	 
		
	 ARTICLE IV INTERNATIONAL EMPLOYEES
	  	 	12	 
			
	 Section 4.01
	 	 Schedule A
	  	 	12	 
			
	 Section 4.02
	 	 Benefit Plans
	  	 	12	 
			
	 Section 4.03
	 	 Cooperation/Works Councils
	  	 	12	 
			
	 Section 4.04
	 	 Special Provisions
	  	 	12	 
		
	 ARTICLE V U.S. WELFARE AND FRINGE BENEFIT PLANS
	  	 	13	 

  
 ii 

							
			
	 Section 5.01
	 	Health and Welfare Plans	  	 	13	 
			
	 Section 5.02
	 	Unemployment Compensation	  	 	15	 
			
	 Section 5.03
	 	Workers’ Compensation	  	 	15	 
		
	 ARTICLE VI EQUITY, INCENTIVE AND DIRECTOR AND EXECUTIVE COMPENSATION
PROGRAMS
	  	 	15	 
			
	 Section 6.01
	 	Equity Incentive Programs	  	 	15	 
			
	 Section 6.02
	 	Annual Bonus Plans	  	 	17	 
		
	 ARTICLE VII DEDUCTIONS
	  	 	18	 
			
	 Section 7.01
	 	Deductions	  	 	18	 
		
	 ARTICLE VIII MISCELLANEOUS
	  	 	18	 
			
	 Section 8.01
	 	Access to Records and Information	  	 	18	 
			
	 Section 8.02
	 	Cooperation	  	 	18	 
			
	 Section 8.03
	 	Asset Recoupment	  	 	18	 
			
	 Section 8.04
	 	No Third-Party Beneficiaries	  	 	19	 
			
	 Section 8.05
	 	Compliance	  	 	19	 
			
	 Section 8.06
	 	Preservation of Rights	  	 	19	 
			
	 Section 8.07
	 	Reimbursement	  	 	19	 
			
	 Section 8.08
	 	Section 409A	  	 	19	 
			
	 Section 8.09
	 	Limitation on Enforcement	  	 	19	 
			
	 Section 8.10
	 	Further Assurances and Consents	  	 	19	 
			
	 Section 8.11
	 	Third Party Consent	  	 	20	 
			
	 Section 8.12
	 	Effect if Distribution Does Not Occur	  	 	20	 
			
	 Section 8.13
	 	Disputes	  	 	20	 

  

  
 iii 

 This EMPLOYEE MATTERS AGREEMENT (the “Agreement”) is by and between
Zimmer Biomet Holdings, Inc. (“Parent”) and Zimmer Biomet Spine, Inc. (“SpinCo”) (each a “Party” and together, the “Parties”), and shall be effective upon the date executed by the
Parties. 
 RECITALS: 

WHEREAS, the board of directors of the Parent has determined that it is advisable and in the best interests of the Parent and the Parent’s
shareholders to create a new publicly traded company which shall operate the Spin-Off Businesses (as such term is defined herein); 

WHEREAS, in furtherance of the foregoing, Parent and ZimVie Inc., a Delaware corporation that will be the ultimate parent company of SpinCo,
are concurrently entering into a Separation and Distribution Agreement (the “Separation Agreement”) which will govern certain matters relating to the Contribution and Distribution and other transactions contemplated by the
Separation Agreement; and 
 WHEREAS, pursuant to the Separation Agreement, the Parent and SpinCo have agreed to enter into this Agreement
for the purpose of allocating assets, liabilities and responsibilities with respect to certain employee matters, human resources, employee compensation and benefit plans between them and among them and to address certain other employment-related
matters. 
 NOW, THEREFORE, in consideration of the premises and of the respective agreements and covenants contained in this Agreement, and
for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledges, the Parties, intending to be legally bound hereby, agree as follows: 

AGREEMENT 
 ARTICLE I

 DEFINITIONS 
 Section 1.01
Defined Terms. For purposes of this Agreement, the following terms shall have the following meanings; provided that capitalized terms used but not otherwise defined in this Section 1.01 shall have the respective meanings ascribed to such
terms in the Separation Agreement. 
 “Action” means any demand, charge, claim, action, suit, counter suit, arbitration,
mediation, hearing, inquiry, proceeding, audit, review, complaint, litigation or investigation, or proceeding of any nature whether administrative, civil, criminal, regulatory or otherwise, by or before any federal, state, local, foreign or
international Governmental Authority or any arbitration or mediation tribunal. 
 “Affiliate” means, with respect to any
Person, any other Person directly or indirectly controlling, controlled by, or under common control with such other Person as of the date on which, or at any time during the period for which, the determination of affiliation is being made. For
purposes of this definition, the term “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”), as used with respect to any Person means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by Contract or otherwise. 

“Agreement” has the meaning set forth in the preamble. 

“Benefit Arrangement” means each Benefit Plan and Benefit Policy. 

  
 1 

 “Benefit Plan” means, with respect to an entity, each compensation or
employee benefit plan, program, policy, agreement or other arrangement, whether or not “employee benefit plans” (within the meaning of Section 3(3) of ERISA, whether or not subject to ERISA), including any benefit plan, program,
policy, agreement or arrangement providing cash- or equity-based compensation or incentives, health, medical, dental, vision, disability, accident or life insurance benefits or vacation, severance, retention, change in control, termination, deferred
compensation, individual employment or consulting, retirement, pension or savings benefits, supplemental income, retiree benefit, relocation or other fringe benefit (whether or not taxable), or employee loans, that are sponsored or maintained by
such entity (or to which such entity contributes or is required to contribute or in which it participates), and excluding workers’ compensation plans, policies, programs and arrangements. 

“Benefit Policy” means, with respect to an entity, each plan, program, arrangement, agreement or commitment that is a
vacation pay or other paid or unpaid leave policy or practice sponsored or maintained by such entity (or to which such entity contributes or is required to contribute) or in which it participates. 

“Change in Control Severance Agreements” mean the Change in Control Severance Agreements between Parent and individual
employees. 
 “COBRA” means the continuation coverage requirements for “group health plans” under Title X of the
Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, and as codified in Code Section 4980B and Sections 601 through 608 of ERISA, together with all regulations and proposed regulations promulgated thereunder. 

“Code” means the United States Internal Revenue Code of 1986 (or any successor statute), as amended from time to time. 

“Contract” means any legally binding written or oral agreement, contract, subcontract, lease, understanding, instrument,
note, option, warranty, sales order, purchase order, license, sublicense, insurance policy, benefit plan or commitment or undertaking of any nature, excluding any Permit. 

“Contribution” has the meaning given to such term in the Separation Agreement. 

“Distribution” has the meaning given to such term in the Separation Agreement. 

“Distribution Date” has the meaning set forth in the Separation Agreement. 

“Employee Agreement” means any employment contract, whether written or unwritten, between a member of the Parent Group or
SpinCo Group and a current or former employee, including any standard form employee agreement customarily signed by certain employees of the Parent Group and any other form of employment agreement, employment letter or notice with respect to the
terms of employment between a member of the Parent Group or SpinCo Group and a current or former employee signed or otherwise effective under applicable local Law. The term “Employee Agreement” also includes any cash retention agreement
and, for the avoidance of doubt, any “SpinCo Contract” (as defined in the Separation Agreement) that satisfies the definition in this paragraph. 

“Employment Tax” means withholding, payroll, social security, workers compensation, unemployment, disability and any similar
tax imposed by the IRS, or any other tax authority, and any interest, penalties, additions to tax or additional amounts with respect to the foregoing imposed on any taxpayer or consolidated, combined or unitary group of taxpayers. 

“Equity Exchange Ratio” means (i) the value of a share of Parent common stock, which shall be the volume-weighted
average price of shares traded on the New York Stock Exchange for the period beginning at 9:30 AM, New York City time (or such as is the official open of trading on the NYSE), and ending at 4:00 PM, New York City time (or such as is the official
close of trading on the NYSE) for the trading day preceding the Distribution Date; divided by (ii) the value of a share of SpinCo common stock, which shall be the volume-weighted average price of shares traded on the New York Stock Exchange for
the first three days of trading following the Distribution. 
 “ERISA” means the Employee Retirement Income Security Act of
1974, as amended. 
 “Governmental Authority” means any federal, state, local, foreign or international court, government,
department, commission, board, bureau, agency, official or other regulatory, administrative or governmental authority or self-regulatory organization. 

“HIPAA” means the Health Insurance Portability and Accountability Act of 1996, as amended. 

  
 2 

 “Information” means information in written, oral, electronic or other
tangible or intangible forms, stored in any medium, including studies, reports, records, books, Contracts, instruments, surveys, discoveries, ideas, concepts, know-how, techniques, designs, specifications,
drawings, blueprints, diagrams, models, prototypes, samples, flow charts, data, computer data, disks, diskettes, tapes, computer programs or other software, marketing plans, customer names, communications by or to attorneys (including
attorney-client privileged communications), memos and other materials prepared by attorneys or under their direction (including attorney work product), and other technical, financial, employee or business information or data but in any case
excluding back-up tapes. 
 “International” means located outside the United
States. 
 “International Benefit Arrangements” has the meaning set forth in Section 4.02. 

“International Employees” means employees located outside of the United States. 

“Law” means any statute, law (including common law), ordinance, regulation, rule, code or other legally enforceable
requirement of, or Order issued by, a Governmental Authority. 
 “Leave of Absence” means any leave under the Parent Group
leave of absence policy or other similar policy or any other approved leave of absence whether paid or unpaid, that is protected by Law or provided for under a Parent Group policy, program or agreement including USERRA Leave, leave under the Family
and Medical Leave Act or corresponding state law or any Parent short-term disability policy, but exclusive of long-term disability. 

“Liabilities” means all debts, liabilities (including liabilities for Taxes), guarantees, assurances, commitments and
obligations, whether fixed, contingent or absolute, asserted or unasserted, matured or not matured, liquidated or unliquidated, accrued or not accrued, known or unknown, due or to become due, whenever or however arising (including whether arising
out of any Contract or tort based on negligence, strict liability or relating to Taxes payable by a Person in connection with compensatory payments to employees or independent contractors) and whether or not the same would be required by generally
accepted principles and accounting policies to be reflected in financial statements or disclosed in the notes thereto. 

“Order” means any: (i) order, judgment, injunction, edict, decree, ruling, pronouncement, determination, decision,
opinion, verdict, sentence, subpoena, writ or award issued, made, entered, rendered or otherwise put into effect by or under the authority of any court, administrative agency or other Governmental Authority or any arbitrator or arbitration panel or
(ii) Contract with any Governmental Authority entered into in connection with any Action. 
 “Parent Annual Bonus
Plans” means the Zimmer Biomet Holdings, Inc. Non-Executive Employee Annual Performance Incentive Plan and the Zimmer Biomet Holdings, Inc. Executive Performance Incentive Plan. 

“Parent Benefit Arrangement” means any Benefit Arrangement sponsored, maintained or contributed to by any member of the
Parent Group. 
 “Parent Employee” means any employee of the Parent Group who is not a SpinCo Employee. 

“Parent Equity Plans” means the Zimmer Biomet Holdings, Inc. 2009 Stock Incentive Plan and the Stock Plan for Non-Employee Directors, as each may be amended and restated from time to time. 
 “Parent
Group” means Parent and each of its Subsidiaries but excluding any member of the SpinCo Group. 
 “Parent ESPP”
means the Parent Group Employee Stock Purchase Plan. 
 “Parent Master Trust” means the Zimmer Biomet Holdings, Inc.
Savings and Investment 401(k) Program Master Trust, as may be amended and restated from time to time. 
 “Parent NQDCPs”
means the Zimmer Biomet Deferred Compensation Plan, the Biomet, Inc. Deferred Compensation Plan (Pre-409A Grandfathered Plan), the Biomet, Inc. Deferred Compensation Plan (Post-409A Plan), and the Zimmer
Holdings, Inc. Independent Sales Representatives Deferred Annual Final Compensation and Equity Incentive Plan, as each may be amended and restated from time to time. 

“Parent Option” means each outstanding option to purchase shares of the common stock of the Parent, whether vested or
unvested, granted under any Parent Equity Plan. 
 “Parent Performance-Based Restricted Stock Unit” means each outstanding
performance-based restricted stock unit of any member of the Parent Group, whether vested or unvested, granted under any Parent Equity Plan. 

  
 3 

 “Parent Time Restricted Stock Unit” means each outstanding restricted stock
unit of any member of the Parent Group, whether vested or unvested, granted under the Parent Equity Plan, that is not a Parent Performance-Based Restricted Stock Unit. 

“Parent Retirement Plan” means the Zimmer Biomet Holdings, Inc. Retirement Income Plan, as may be amended and restated from
time to time. 
 “Parent Savings Plans” means the Zimmer Biomet Holdings, Inc. Savings and Investment 401(k) Program and
the Zimmer Biomet Puerto Rico Savings and Investment 401(k) Program, as each may be amended and restated from time to time, and any other Benefit Plan maintained by any member of the Parent Group in which US SpinCo Employees participate immediately
before the Pre-Spin Transition Date and that is intended to satisfy the requirements of Sections 401(a) and 401(k) of the Code. 

“Parent Severance Plans” means the Zimmer Biomet Holdings, Inc. Severance Plan, the Zimmer Biomet Holdings, Inc. Executive
Severance Plan and the Change in Control Severance Agreements, as each may be amended and restated from time to time. 
 “Parent
Welfare Plans” means the Zimmer Biomet Holdings, Inc. Health and Welfare Plan (including the component plans thereof) and any other employee welfare benefit plan maintained by the Parent or any member of the Parent Group and in which SpinCo
Employees participate as of the day prior to the Pre-Spin Transition Date. 

“Party” or “Parties” has the meaning set forth in the preamble. 

“Person” means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock
company, a trust, a joint venture, an unincorporated organization or a Governmental Authority. 

“Pre-Spin Transition Date” means January 1, 2022. 

“Separation Agreement” has the meaning set forth in the recitals. 

“SpinCo” has the meaning set forth in the preamble. 

“SpinCo Annual Bonus Plans” means the annual bonus plans established or to be established for the benefit of SpinCo Employees
that mirror the Parent Annual Bonus Plans. 
 “SpinCo Benefit Arrangement” means any Benefit Arrangement sponsored,
maintained or contributed to by any member of the SpinCo Group or Subsidiary thereof. 
 “SpinCo Employees” means
(i) any employee who works primarily for the Spin-Off Businesses as of the Pre-Spin Transition Date, provided, that any such individual employed in
the United States who is on short-term disability leave, receiving long-term disability benefits or is on any other Leave of Absence on the Pre-Spin Transition Date shall automatically become a SpinCo Employee
only if and when such Employee returns to active service, and (ii) any other employee identified or otherwise described in Schedule A hereto. 

“SpinCo Equity Awards” means any SpinCo Options, SpinCo Performance-Based Restricted Stock Units, SpinCo Restricted Stock
Units, and any other equity awards granted under the SpinCo Equity Plan. 
 “SpinCo Equity Plans” has the meaning set forth
in Section 6.01(b). 
 “SpinCo Group” means SpinCo and each of its Affiliates after the Distribution. 

“SpinCo Master Trust” has the meaning set forth in Section 3.02(a). 

“SpinCo NQDCP” means the non-qualified deferred compensation plan established or to
be established for the benefit of SpinCo Employees that “mirrors” (i.e., replicates all of the material terms and conditions of) the Zimmer Biomet Deferred Compensation Plan. 

“SpinCo Option” means each outstanding stock option of any member of the SpinCo Group, whether vested or unvested, granted
under the SpinCo Equity Plan. 

  
 4 

 “SpinCo Performance-Based Restricted Stock Unit” means each outstanding
performance-based restricted stock unit of any member of the SpinCo Group, whether vested or unvested, granted under the SpinCo Equity Plan. 

“SpinCo Restricted Stock Unit” means each outstanding restricted stock unit of any member of the SpinCo Group, whether vested
or unvested, granted under the SpinCo Equity Plan, that is not a SpinCo Performance-Based Restricted Stock Unit. 
 “SpinCo Savings
Plans” has the meaning set forth in Section 3.02(a).  
 “SpinCo Severance Plans” means the severance
plans established or to be established for the benefit of SpinCo Employees that mirror the Parent Severance Plans. 
 “SpinCo
Welfare Plans” has the meaning set forth in Section 5.01(b). 
 “Spin-Off
Businesses” means the “SpinCo Business” as defined in the Separation Agreement. 
 “Subsidiary” or
“Subsidiaries” means, with respect to any Person, any corporation or other entity (including partnerships and other business associations and joint ventures) of which at least a majority of the voting power represented by the
outstanding capital stock or other voting securities or interests having voting power under ordinary circumstances to elect directors or similar members of the governing body of such corporation or entity (or, if there are no such voting interests,
fifty percent (50%) or more of the equity interests in such corporation or entity) shall at the time be held, directly or indirectly, by such Person. 

“Tax” or “Taxes” means all taxes, charges, fees, levies, penalties or other assessments imposed by any
federal, state, local, provincial or foreign taxing authority, including income, gross receipts, excise, real or personal property, sales, use, transfer, customs, duties, franchise, payroll, withholding, social security, receipts, license, stamp,
occupation, employment, or other taxes, including any interest, penalties or additions attributable thereto, and any payments to any state, local, provincial or foreign taxing authorities in lieu of any such taxes, charges, fees, levies or
assessments. 
 “USERRA Leave” means a Leave of Absence in respect of which reemployment rights are protected under the
Uniformed Services Employment and Reemployment Rights Act. 
 “US SpinCo Employee” means each SpinCo Employee employed in
the United States. 
 “Workers’ Compensation Events” means the event, injury, illness, or condition giving rise to a
workers’ compensation claim. 
 Section 1.02 References; Interpretation. Unless the context otherwise requires: 

 

	 	(a)	 references in this Agreement to Articles, Sections, Exhibits and Schedules shall be deemed references to
Articles and Sections of, Exhibits and Schedules to, this Agreement; 

  

	 	(b)	 references in this Agreement to any time shall be to the then prevailing New York City, New York time unless
otherwise expressly provided herein; and 

  

	 	(c)	 references to an individual as an “Employee” are descriptive only and are not necessarily intended to
mean that an individual is in fact an employee of any Party. 

 Section 1.03 Relation to Other Documents. To the extent there
is any inconsistency between this Agreement and the terms of another agreement pertaining to the Distribution that is the subject of this Agreement and such inconsistency (i) arises in connection with or as a result of employment with or the
performance of services before or after the Distribution for any member of the Parent Group or SpinCo Group and (ii) relates to the allocation of Liabilities attributable to the employment, service, termination of employment or termination of
service of any present or former Parent Group employees or SpinCo Employees or any of their dependents or beneficiaries (and any alternate payees in respect thereof), or other service providers (including any individual who is, or was or is
determined to be an independent contractor, temporary employee, temporary service worker, consultant, freelancer, agency employee, leased employee, on-call worker, incidental worker, or non-payroll worker or in any other employment, non-employment, or retainer arrangement or relationship with any member of the Parent Group or the SpinCo Group), the terms of
this Agreement shall prevail. 

  
 5 

 ARTICLE II 

GENERAL PRINCIPLES 
 Section 2.01
Allocation of Assets and Liabilities. 
  

	 	(a)	 SpinCo Liabilities. Except as otherwise expressly provided in this Agreement or the Separation
Agreement, the SpinCo Group hereby assumes (or retains) and agrees to pay, perform, fulfill, and discharge all Liabilities to the extent relating to, arising out of, or resulting from or with respect to: 

 

	 	i.	 the employment (or termination of employment), including with respect to any statutory or other Liabilities
(regardless of whether those Liabilities are otherwise the legal responsibility of the Parent Group or the SpinCo Group), at any time, of each SpinCo Employee (including, in each case, all Liabilities with respect to any such SpinCo Employee
relating to, arising out of, or resulting from Employment Tax, Employee Agreements, any Parent Benefit Arrangement or any SpinCo Benefit Arrangement); provided, however, that, notwithstanding anything in this Section 2.01(a) to the
contrary, SpinCo shall not assume any Liabilities relating to, arising out of, or resulting from the Parent Retirement Plan, any Parent NQDCPs or any Parent Annual Bonus Plan (other than any Liabilities for any bonuses under any Parent Annual Bonus
Plan accruing after 2021), which Liabilities shall be expressly retained by Parent Group; and provided further that the Liabilities described in this paragraph with respect to any US SpinCo Employee shall be assumed by the SpinCo Group in
accordance with this Section 2.01(a) only to the extent they are based on actions, omissions, circumstances or events that occurred, or are alleged to have occurred, on or after the Pre-Spin Transition
Date; 

  

	 	ii.	 the retention (or termination of engagement), including with respect to any statutory or other Liabilities
(regardless of whether those Liabilities are otherwise the legal responsibility of the Parent Group or the SpinCo Group), prior to, on, or after the Pre-Spin Transition Date, of any individual who is, or was,
an independent contractor, temporary employee, temporary service worker, consultant, freelancer, agency employee, leased employee, on-call worker, incidental worker, or
non-payroll worker or any other individual in any other similar relationship to the extent the services provided by any such individual were primarily related to the SpinCo Group and such individual is
identified to be transferred to the SpinCo Group in connection with the Distribution; provided that, notwithstanding anything in this Section 2.01(a) to the contrary, SpinCo shall not assume any Liabilities relating to, arising out
of, or resulting from any Parent NQDCPs; provided further that the Liabilities described in this paragraph with respect to any individual described in this paragraph who is employed or otherwise engaged in the United States shall be assumed
by the SpinCo Group in accordance with this Section 2.01(a) only to the extent they are based on actions, omissions, circumstances or events that occurred, or are alleged to have occurred, on or after the
Pre-Spin Transition Date; and provided further that, for the avoidance of doubt, this Agreement is not intended to, and does not, address any Liabilities in respect of the services provided by
consulting firms, investment advisory firms, valuation advisory firms, legal advisors or other third-party entities retained to provide advice with respect to or in connection with the Distribution; 

 

	 	iii.	 all Liabilities under any SpinCo Benefit Arrangement, regardless of whether established prior to, on or
following the Pre-Spin Transition Date; and 

  

	 	iv.	 Liabilities and responsibilities expressly assumed or retained by any member of the SpinCo Group pursuant to
this Agreement or the Separation Agreement. 

  

	 	(b)	 Parent Liabilities. Except as otherwise expressly provided in this Agreement or the Separation
Agreement, the Parent Group hereby retains (or assumes) and agrees to pay, perform, fulfill, and discharge all Liabilities to the extent relating to, arising out of, or resulting from or with respect to: 

  
 6 

	 	i.	 the employment (or termination of employment), including with respect to any statutory or other Liabilities
(except as otherwise provided in this Agreement), of each Parent Employee prior to, on, or after the Pre-Spin Transition Date, unless and until such employee becomes a SpinCo Employee on or after the Pre-Spin Transition Date (including all Liabilities with respect to any such employee to the extent relating to, arising out of, or resulting from Employment Taxes, Employee Agreements or any Parent Benefit
Arrangement), subject to Section 2.01(c); 

  

	 	ii.	 the retention (or termination of engagement), including with respect to any statutory or other Liabilities,
prior to, on, or after the Pre-Spin Transition Date, of any individual who is, or was, an independent contractor, temporary employee, temporary service worker, consultant, freelancer, agency employee, leased
employee, on-call worker, incidental worker, non-payroll worker or any other individual in any other similar relationship to the extent the services provided by any such
individual were primarily related to the Parent Group; provided that, for the avoidance of doubt, this Agreement is not intended to, and does not, address any Liabilities in respect of the services provided by consulting firms,
investment advisory firms, valuation advisory firms, legal advisors or other third-party entities retained to provide advice with respect to or in connection with the Distribution; and 

 

	 	iii.	 Liabilities and responsibilities expressly retained or assumed by any member of the Parent Group pursuant to
this Agreement or the Separation Agreement. 

  

	 	(c)	 Benefit Plan Assets and Liabilities. Subject to Article III hereof, the Parent and each other member of
the Parent Group shall assign to the SpinCo Group, and the SpinCo Group shall assume, all assets and Liabilities of the Parent Savings Plans which are associated with SpinCo Employees and the Liabilities for any bonuses to any SpinCo Employees under
any Parent Annual Bonus Plan accruing after 2021, but shall not assume any assets or Liabilities of the Parent Retirement Plan, any Parent NQDCPs or any Parent Annual Bonus Plan (other than any Liabilities for any bonuses under any Parent Annual
Bonus Plan accruing after 2021). All other Parent Benefit Arrangement assets and liabilities shall be retained by Parent Group. 

  

	 	(d)	 Other Liabilities. To the extent that this Agreement does not cover particular Liabilities or
responsibilities that relate to, arise out of, or result from employment (or termination of employment), Employment Taxes, Employee Agreements or any Benefit Plan and the Parties later determine that they should be allocated in connection with the
Distribution, such Liabilities and responsibilities shall be handled in a manner similar to the manner in which this Agreement handles comparable Liabilities and responsibilities, subject to the mutual agreement of the Parties, as evidenced by the
written consent of an authorized officer of each Party. 

 Section 2.02 Employment with SpinCo. 

 

	 	(a)	 Employment Transfers/Offers of Employment. Except as otherwise required by applicable local Law or
expressly provided herein, no later than on or immediately prior to the Pre-Spin Transition Date, Parent Group has taken all actions necessary to ensure that prior to or on the
Pre-Spin Transition Date all transferring employees of the Parent Group were employed by a member of the SpinCo (i.e., the SpinCo Employees). 

 

	 	(b)	 No Severance. Except as otherwise required by applicable local Law or expressly provided herein, the
Distribution and the assignment, transfer or continuation of employment of any employee of Parent Group in connection therewith (including in accordance with Section 2.02(a) hereof) shall not be deemed a separation from service or a termination
of employment entitling such Employee to be eligible to participate in, or to receive payment of, severance benefits under any applicable Law, severance plan, policy, practice or arrangement of Parent Group, SpinCo Group, or any of their respective
Affiliates; provided, however, that any employee of Parent Group 

  
 7 

	 	
or any of its Affiliates whose employment is not intended to be continued by Parent Group following the Pre-Spin Transition Date and is not assigned to a
member of the SpinCo Group, and whose employment is terminated prior to or as of the Pre-Spin Transition Date, shall be deemed to have incurred a separation from service and shall be eligible to receive
severance and benefits pursuant to the Parent Severance Plan. In the event that an employee who would otherwise be a SpinCo employee does not accept a transfer from Parent Group to the SpinCo Group, if such employee would be entitled to severance
under the Parent Severance Plan, SpinCo shall be responsible for severance payments and benefits, if any, for such employee and shall provide such payments and benefits. 

 

	 	(c)	 Compensation and Benefits. For a period of at least twelve (12) months following the Distribution
Date, SpinCo shall (i) provide or shall cause to be provided to each SpinCo Employee compensation and employee benefit opportunities (exclusive of pension benefits, nonqualified deferred compensation benefits and equity compensation benefits)
that are substantially comparable in the aggregate to the opportunities provided to such SpinCo Employee (or, in the case of SpinCo Employees who were not employed by the Parent Group as of immediately prior to the
Pre-Spin Transition Date, to similarly situated employees of the Parent Group) immediately before the Pre-Spin Transition Date, (ii) maintain the long-term
incentive compensation metrics and target payments for each SpinCo Employee (except as specified in Section 6.01(c)(ii) of this Agreement with regard to Parent Performance-Based Restricted Stock Units converted to SpinCo Performance-Based
Restricted Stock Units); and (iii) provide no less favorable severance benefits to SpinCo Employees than those provided under the Parent Severance Plans. However, where employment terms and conditions providing for compensation or benefits
exceeding those provided for in this subsection (c) are required by applicable local Law in order to avoid penalties or severance payments, compensation and benefits shall be provided as required by local Law. 

 

	 	(d)	 Service Credit. SpinCo shall, and shall cause each member of the SpinCo Group to, give each SpinCo
Employee full credit for purposes of eligibility, vesting, determination of level of benefits, and, to the extent applicable benefit accruals and benefit subsidies under any SpinCo Benefit Arrangement for such individuals’ service with any
member of the Parent Group or any predecessor thereto, to the same extent such service was recognized by the applicable Parent Benefit Arrangement; provided, that, such service shall not be recognized to the extent such recognition would
result in the duplication of benefits or is prohibited by local Law. In addition, and without limiting the generality of the foregoing provisions of this Section 2.02(d), (i) SpinCo shall cause each SpinCo Employee to be eligible to
participate, without any additional waiting time, in any and all SpinCo Benefit Arrangements to the extent coverage under the SpinCo Benefit Arrangement is comparable to a Parent Benefit Arrangement in which the SpinCo Employee participated
immediately before the Pre-Spin Transition Date (or such later date on which such individual became a SpinCo Employee) pursuant to the eligibility and waiting time provisions of such Parent Benefit
Arrangement. Upon the Pre-Spin Transition Date, and from time to time thereafter as is reasonably necessary, Parent Group shall provide SpinCo with such Information as is necessary to make the proper
calculations necessary to comply with the foregoing obligations. 

  

	 	(e)	 Subsequent and Delayed Transfers. Notwithstanding anything in this Agreement to the contrary, certain
transfers of employment to the SpinCo Group may occur following the Pre-Spin Transition Date, either as set forth in this Agreement (including Schedule A) or pursuant to a mutual agreement between the
Parties to delay the employment transfer or to otherwise effectuate the employment transfer following the Pre-Spin Transition Date, in each case in connection with the Distribution. The provisions of
Section 2.01 shall apply to each employee transferred to the SpinCo Group following the Pre-Spin Transition Date in accordance with the preceding sentence (to the extent such employee does not otherwise
satisfy the definition of SpinCo Employee) as if such employee were a SpinCo Employee for purposes of such section. Additionally, to the extent any such employee does not otherwise satisfy the definition of SpinCo Employee, the Parties shall
cooperate in good faith and use their commercially reasonable efforts to effectuate the other requirements and principles of this Agreement with respect to such employee, subject to the other provisions of this Agreement (including Sections 8.05 and
8.10). 

  
 8 

	 	(f)	 No Acceleration of Benefits. Except as otherwise provided in this Agreement, no provision of this
Agreement shall be construed to create any right, or accelerate vesting or entitlement, to any compensation or benefit whatsoever on the part of any SpinCo Employee or other former, current or future employee of the Parent Group or SpinCo Group
under any Parent Benefit Arrangement. 

  

	 	(g)	 Amendment Authority. Except as otherwise provided in this Agreement, nothing in this Agreement is
intended to prohibit any member of the Parent Group or SpinCo Group from amending or terminating any employee benefit plans, policies and compensation programs at any time on or after the Pre-Spin Transition
Date. 

  

	 	(h)	 No Commitment to Employment or Benefits. Nothing contained in this Agreement shall be construed as a
commitment or agreement on the part of any person to continue employment with the Parent Group or SpinCo Group or, except as otherwise provided in this Agreement, as a commitment on the part of the Parent Group or SpinCo Group to continue the
employment, compensation or benefits of any person for any period or to provide any recall or similar rights to an individual on layoff or any type of Leave of Absence. This Agreement is solely for the benefit of the Parent Group and SpinCo Group
and, except to the extent otherwise expressly provided herein, nothing in this Agreement, express or implied, is intended to confer any rights, benefits, remedies, obligations or Liabilities under this Agreement upon any Person, including any SpinCo
Employee or other current or former employee, officer, director or contractor of the Parent Group or SpinCo Group, other than the Parties and their respective successors and assigns. 

Section 2.03 Establishment of SpinCo Plans and Trusts. As of the Pre-Spin Transition Date, SpinCo shall,
or shall cause one of the other members of the SpinCo Group to, establish the following Benefit Arrangements for the benefit of the SpinCo Employees, with terms identical in substance to the terms of the corresponding Parent Benefit Arrangement,
except as otherwise provided in this Agreement: 
  

	 	•	 	 SpinCo Savings Plans 

  

	 	•	 	 SpinCo Master Trust 

  

	 	•	 	 SpinCo Welfare Plans 

  

	 	•	 	 SpinCo Severance Plans 

 

	 	•	 	 SpinCo NQDCP 

  

	 	•	 	 SpinCo Annual Bonus Plans 

 

	 	•	 	 SpinCo Equity Plans 

Section 2.04 Termination of Participating Company Status. Effective as of the Pre-Spin Transition Date,
SpinCo shall cease to be a participating company in the Parent Benefit Plans, and, as a result, SpinCo Employees shall cease to be eligible to participate in the Parent Benefit Plans. 

Section 2.05 On-Leave US Employees. In addition to, and not in limitation of, the other provisions of this
Agreement, SpinCo shall reimburse the Parent Group for all Liabilities incurred by any member of the Parent Group with respect to any On-Leave US Employee to the extent such Liabilities would be required to be
assumed by any member of the SpinCo Group under this Agreement if such On-Leave US Employee were a US SpinCo Employee. 
  

	 	(a)	 For purposes of this Section 2.05, “On-Leave US
Employee” means each United States employee who, as of the Pre-Spin Transition Date, works primarily for the Spin-Off Businesses and is on any Leave of Absence,
all as determined by the Parent. 

  

	 	(b)	 The Parent Group shall invoice SpinCo for such Liabilities on a monthly basis, and SpinCo shall reimburse to
the Parent Group for such Liabilities by wire transfer of immediately available funds on a monthly basis in arrears. 

  
 9 

	 	(c)	 This Section 2.05 shall not apply to any Liabilities with respect to any
On-Leave US Employee which are incurred after the date such On-Leave US Employee’s Leave of Absence ends for any reason, including due to return to active
employment or commencement of long-term disability benefits. 

  

	 	(d)	 This Section 2.05 shall not limit any other provision of this Agreement which assigns to the SpinCo
Group or any member thereof any additional or different Liabilities or other responsibilities with respect to any On-Leave U.S. Employee. 

ARTICLE III 
 U.S.
QUALIFIED AND NON-QUALIFIED RETIREMENT PLANS 
 Section 3.01 Parent Retirement Plan. The Parent
Retirement Plan, and all assets and Liabilities related thereto, shall remain with the Parent Group. For purposes of vesting and the pension benefit calculation only, SpinCo Employees’ employment with SpinCo shall be considered employment with
the Parent Group for purposes of the Parent Retirement Plan. Not less frequently than twice per annum, SpinCo and Parent shall confer to determine whether any SpinCo Employees who are active participants in the Parent Retirement Plan have terminated
employment with SpinCo. 
 Section 3.02 U.S. and Puerto Rico Savings Plans. 

 

	 	(a)	 Establishment of SpinCo Savings Plans. As of the Pre-Spin
Transition Date, SpinCo shall, or shall have caused one or more members of the SpinCo Group to, establish or maintain defined contribution savings plans with terms substantially similar, but maintaining the same vesting schedule, and with other
terms sufficient to avoid a decrease in accrued benefits pursuant to Section 411(d)(6) of the Code and a related trust or trusts, to the Parent Savings Plans and the Parent Master Trust intended to satisfy the requirements of Sections
401(a) and 401(k) of the Code (such defined contribution savings plan or plans, the “SpinCo Savings Plans”). SpinCo shall be responsible for taking all necessary, reasonable, and appropriate action to establish, maintain and
administer the SpinCo Savings Plans so that they are qualified under Section 401(a) of the Code, that they satisfy the requirements of Section 401(k) of the Code and that the related trust or trusts thereunder (the “SpinCo Master
Trust”) are exempt under Section 501(a) of the Code, and as soon as reasonably practicable following the Pre-Spin Transition Date SpinCo shall take all steps reasonably necessary to obtain
favorable determinations from the IRS and La Hacienda (as appropriate) as to such initial qualification if an opinion letter is not then applicable to the SpinCo Savings Plans. SpinCo shall be responsible for any and all Liabilities (including
Liability for funding) and other obligations with respect to the SpinCo Savings Plans. 

  

	 	(b)	 Contributions under the Parent Savings Plans as of the Pre-Spin
Transition Date. All contributions accrued by SpinCo Employees under the Parent Savings Plans with respect to all employer contributions, including employee deferrals, matching contributions (including any
true-up contributions, if applicable), profit-sharing contributions, employer non-elective contributions, and employer contributions for SpinCo Employees accrued for
service provided by SpinCo Employees before the Pre-Spin Transition Date, determined in accordance with the terms and provisions of the Parent Savings Plans, ERISA and the Code, and based on all service
performed and compensation accrued prior to the Pre-Spin Transition Date, shall be deposited by the Parent Group to the Parent Savings Plans as soon as administratively feasible following the Pre-Spin Transition Date. Any corrective contributions required to be made to the SpinCo Savings Plans shall be the responsibility of SpinCo. 

 

	 	(c)	 Trustee-to-Trustee
Transfer. As soon as practicable following the Pre-Spin Transition Date, Parent Group shall cause any and all assets and Liabilities of the accounts of SpinCo Employees under the Parent Savings Plans, and
the value of the assets attributable to such accounts, to be transferred to the SpinCo Savings Plans in a “transfer of assets or Liabilities” in accordance with Section 414(1) of the Code. The assets and Liabilities to be transferred
shall include (i) the allocable portion (in proportion to 

  
 10 

	 	
the aggregate account balances transferred to the SpinCo Savings Plans) of the forfeiture account held in the Parent Saving Plans as of the Pre-Spin
Transition Date (net of any estimated unpaid plan expenses for the most recently completed plan year), and (ii) promissory notes evidencing plan loans. SpinCo shall cause the administrators of, and the trustees of the trust or trusts
established under the SpinCo Savings Plans (including the SpinCo Master Trust) to accept such transfer, with such transfer to be administered in accordance with applicable Law (including Sections 411(d)(6) and 414(1) of the Internal Revenue Code of
1986). After the transfer has occurred, if on further review it is determined and agreed upon by the Parties that an incorrect amount of assets was transferred, there shall be a corresponding adjustment to correct any such mistake.

  

	 	(d)	 Outstanding Loans under the Parent Savings Plans. From the
Pre-Spin Transition Date and until the date of the trustee-to-trustee transfer of their account balances, the SpinCo Employees
who have outstanding loans originally made from the Parent Savings Plans shall be permitted to continue to repay such loans during their employment with SpinCo Group. 

 

	 	(e)	 [Reserved] 

  

	 	(f)	 Subsequent SpinCo Employees. The Parties further agree that, if any individual becomes a SpinCo Employee
following the Pre-Spin Transition Date, in accordance with the proviso included in the definition of “SpinCo Employee”, as a result of such individual returning to active service after a period of
leave (the date of such return, the “Return Date”, and such individual, a “Subsequent SpinCo Employee”), the foregoing provisions of Sections 3.02(b) through 3.02(e) shall apply to such Subsequent SpinCo Employee,
provided that, for purposes of such Subsequent SpinCo Employee, all references to “Pre-Spin Transition Date” therein shall mean a date, as soon as practicable following the Subsequent SpinCo
Employee’s Return Date, by which the Parent Group is able to fulfill all of its obligations under such Sections 3.02(b) through 3.02(e) with respect to such Subsequent SpinCo Employee. 

Section 3.03 NQDCPs. 
  

	 	(a)	 Establishment of Plan. Effective as of the Pre-Spin Transition
Date, SpinCo shall establish or maintain the SpinCo NQDCP as set forth in Section 2.03 hereof. 

  

	 	(b)	 Distribution Not a Distributable Event. The Parties acknowledge that, except as may be otherwise
expressly provided under the terms of any Parent NQDCP or required under “Section 409A” (as defined below), neither the Distribution nor any transfers of employment incident thereto shall result in a distributable event for any SpinCo
Employee or other SpinCo individual service provider under any Parent NQDCP. 

  

	 	(c)	 Information Exchange. Following the Pre-Spin Transition Date and
until all SpinCo Employees and other SpinCo individual service providers have commenced distributions of their benefits under the Parent NQDCPs, SpinCo agrees to notify the Parent in writing within thirty (30) business days after any SpinCo
Employee or other SpinCo individual service provider with a vested balance under any Parent NQDCP experiences a separation from service with the SpinCo Group, in order to help facilitate the Parent’s administration of the SpinCo Employees’
and other SpinCo individual service providers’ Parent NQDCP benefits. 

  
 11 

 ARTICLE IV 

INTERNATIONAL EMPLOYEES 

Section 4.01 Schedule A. The general provisions and principles in this Article IV and the other terms and conditions of this Agreement are subject
to the overriding terms and conditions of Schedule A, which will prevail to the extent of any conflict with this Agreement. 
 Section 4.02
Benefit Plans. Except as set forth in Schedule A, as of the Pre-Spin Transition Date, SpinCo shall, or shall cause one of its Affiliates to, establish international Benefit Arrangements that are
substantially comparable in the aggregate to those Benefit Arrangements provided by Parent Group to International Employees immediately prior to the Pre-Spin Transition Date (the “International Benefit
Arrangements”). SpinCo International Employees shall (A) be eligible to participate in the International Benefit Arrangements sponsored or maintained by SpinCo to the extent they were eligible to participate in the corresponding
International Benefit Arrangements sponsored or maintained by the Parent prior to the Pre-Spin Transition Date, and (B) receive credit for vesting, eligibility and benefit service to the same extent
recognized by Parent Group as of immediately prior to the Pre-Spin Transition Date for all service credited for those purposes under the corresponding International Benefit Arrangements sponsored by the Parent
as if that service had been rendered to SpinCo. 
 Section 4.03 Cooperation/Works Councils. The Parties shall provide reasonable
post-Distribution cooperation and assistance to each other with respect to the matters contemplated below by this Section 4.03. SpinCo shall, and shall cause its Subsidiaries to, render full reasonable cooperation to Parent Group in providing
in due time all complete and accurate information required by Law or reasonably requested by employees, works councils, labor unions, employee representatives or any other persons or entities (including any information reasonably requested by Parent
in connection with any employee-related litigation to which Parent or any Subsidiary is a party) with respect to Parent Group, their operations, their employees, their employee benefits arrangements, the creation of SpinCo, the Contribution, the
Distribution, the Distribution Date, the Pre-Spin Transition Date and transfer of employment, the reasons for the transfer of employment, the legal, economic and social consequences of the transaction for the
SpinCo Employees and the measures taken by SpinCo and its Subsidiaries in relation therewith. In addition, SpinCo shall, and shall cause its Subsidiaries to, provide Parent and its Subsidiaries with any other information that may be required to
respond to any reasonable questions posed by employees, works councils, labor unions, employee representatives or any other persons or entities with respect to the Distribution and to attend, at Parent Group’s formal request, any meeting with
such employees, works councils, labor unions, employee representatives or other persons or entities where necessary or legally required. SpinCo shall render full reasonable cooperation to Parent Group, and Parent Group shall render full reasonable
cooperation to SpinCo, in each case providing in due time all information within its knowledge and engaging in any consultations, required by Law or reasonably requested by employees, works councils and/or unions and/or employee representatives that
are required or initiated to accomplish the transfer of any SpinCo Employees to SpinCo as contemplated by this Agreement. SpinCo shall bear all expenses and costs of any compensation resulting from negotiations with works councils, unions and/or
employee representatives, including expenses relating to any adjustments or additions to the terms and conditions of employment of any SpinCo Employees that result from such negotiations and which are approved by Parent; provided, however that
Parent shall bear its own costs associated with these negotiations (e.g. travel time and expenses to participate in the negotiations). The Parties understand that the provisions of this Agreement may need to be subsequently modified in connection
with the consultations and similar processes described in this paragraph and agree to negotiate any such subsequent modifications in good faith and in keeping with the Parties’ original intent behind the Agreement. 

Section 4.04 Special Provisions. Notwithstanding any other provision in this Agreement to the contrary (including, but not limited to
Section 6.01(a)(iv) of this Agreement), Parent’s Vice President of Total Rewards and SpinCo’s Chief Human Resources Officer, shall have the discretion, power, and authority to adopt and implement special provisions, rules, or
procedures applicable to (i) the equitable adjustments in the case of an International Employee who has outstanding equity awards granted under the Parent Equity Plan or any incentive plan of Parent, where such grantee’s circumstances
warrant a different treatment to the extent that such persons deem such different treatment to be equitable, necessary, or advisable, based on the advice of counsel; (ii) the good faith determination of the employer or former employer, as
applicable, of each International Employee; (iii) errors in the timing of employment transfers of International Employees, (iv) issues pertaining to immigration law requirements, and (v) any other decisions regarding the employment,
compensation, and benefit arrangements of one or more International Employees as are deemed equitable, necessary or advisable that are not otherwise contemplated by this Agreement (including Schedule A). 

  
 12 

 ARTICLE V 

U.S. WELFARE AND FRINGE BENEFIT PLANS 

Section 5.01 Health and Welfare Plans. This Section 5.01 shall apply only to US SpinCo Employees. 

 

	 	(a)	 Eligibility. Effective on the Pre-Spin Transition Date (or, for
any Subsequent SpinCo Employee, such employee’s Return Date), all SpinCo Employees shall cease to be eligible to participate in the Parent Welfare Plans. Effective as of the Pre-Spin Transition Date (or,
for any Subsequent SpinCo Employee, such employee’s Return Date), SpinCo Employees shall be eligible to participate in health and welfare plans for the benefit of SpinCo Employees that mirror the Parent Welfare Plans (collectively, the
“SpinCo Welfare Plans”). 

  

	 	(b)	 Waiver of Conditions. SpinCo (acting directly or through its Affiliates) shall cause the SpinCo Welfare
Plans to (i) waive all limitations as to preexisting conditions, exclusions and service conditions with respect to participation and coverage requirements applicable to any US SpinCo Employee, other than limitations that were in effect with
respect to the US SpinCo Employee under the Parent Welfare Plans as of the Pre-Spin Transition Date, and (ii) provide recognition for service with Parent Group for any waiting period limitation or
evidence of insurability requirement applicable to a SpinCo Group Employee; provided, that, service shall not be recognized to the extent such recognition would result in the duplication of benefits. Such waivers described in clauses
(i) and (ii) of the foregoing sentence, with respect to the SpinCo Welfare Plans, shall apply to initial enrollment effective following the Pre-Spin Transition Date. Any
pre-existing condition limitations, exclusions, and services conditions that remain applicable under the SpinCo Welfare Plans pursuant to clause (i) shall apply only to the extent allowable under HIPAA.

  

	 	(c)	 Allocation of Health and Welfare Assets and Liabilities. 

 

	 	i.	 General Principles. SpinCo shall be responsible with regard to claims by any SpinCo Employees under any
medical, prescription drug, dental, vision, life insurance, accidental death and dismemberment insurance, survivor income, business travel, employee assistance, wellness, long-term disability, short-term disability, supplemental short-term
disability, tuition reimbursement, flexible spending and healthcare savings accounts, and adoption assistance plans or programs incurred on or after the Pre-Spin Transition Date. For purposes of the foregoing,
the following claims and Liabilities shall be deemed to be “incurred” as follows: (v) survivor income, disability, life, accidental death and dismemberment and business travel accident insurance benefits, upon the death, illness,
injury, disability or accident giving rise to such benefits, (w) hospital-provided health, dental, prescription drug or other benefits, which become payable with respect to any hospital confinement, upon commencement of such confinement,
(x) any other medical, prescription drug, dental, vision, flexible spending and health care savings accounts, employee assistance, and wellness, when the services are rendered, the supplies are provided or medication is acquired by the
participant, and not when the condition arose, (y) tuition reimbursement, when the applicable course is completed, and (z) adoption assistance, when the adoption is final (per court order). The Parties agree that in no event may a SpinCo
Employee receive benefits under any plan or program that results in a duplication of benefits. 

  

	 	ii.	 Severance Plans. Except as otherwise specified in Schedule A, SpinCo shall be responsible with
regard to claims for severance by any SpinCo Employees which terminate employment on or after the Pre-Spin Transition Date, with any claims paid under the SpinCo Severance Plans. 

  
 13 

	 	iii.	 COBRA and HIPAA Compliance. Parent Group shall continue to be responsible for compliance with the health
care continuation requirements of COBRA (including the requirements under the American Recovery and Reinvestment Act), the certificate of creditable coverage requirements of HIPAA, and the corresponding provisions of the Parent Welfare Plans with
respect to any SpinCo Employees and any former employees of the Spin-Off Businesses located in the US who incur a qualifying event under COBRA on or before the Pre-Spin
Transition Date. SpinCo shall assume responsibility for compliance with the health care continuation requirements of COBRA, the certificate of creditable coverage requirements of HIPAA, and the corresponding provisions of the SpinCo Welfare Plans,
with respect to any SpinCo Employees who incur a qualifying event or loss of coverage under the SpinCo Welfare Plans after the Pre-Spin Transition Date. Parent Group and SpinCo Group agree that the
consummation of the transactions contemplated by the Separation Agreement shall not constitute a COBRA qualifying event for any purpose of COBRA. 

  

	 	iv.	 Disability Benefits/Leave of Absence. For any Parent Employee who would be a SpinCo Employee but who has
incurred a disability (within the meaning of the applicable provisions of the Parent Welfare Plans providing long-term disability benefits) on or before the Pre-Spin Transition Date, to the extent such
disability has been approved by the administrator of the Parent Welfare Plans, such Parent Employee will continue to be covered under the Parent Welfare Plans, with respect to such disability (but not with respect to any reoccurrence of such a
disability after such individual returns to active service with the SpinCo Group on or following the Pre-Spin Transition Date); for any Parent Employee who would be a SpinCo Employee but for being on
short-term disability leave or any other Leave of Absence at the Pre-Spin Transition Date, such employee shall remain a Parent Employee. A Parent Employee who would be a SpinCo Employee but for receiving
disability benefits or being on a Leave of Absence as of the Pre-Spin Transition Date shall automatically become a SpinCo Employee only if and when such employee returns to active service. Any right to
reemployment for any individuals who were employed in the Spin-Off Businesses prior to the Pre-Spin Transition Date and who were on disability or Leave of Absence as of
immediately prior to the Pre-Spin Transition Date shall be the obligation of the SpinCo Group and not of the Parent Group. 

 

	 	v.	 Time-Off Benefits. As of the
Pre-Spin Transition Date (or, for any Subsequent SpinCo Employee, such employee’s Return Date), each US SpinCo Employee shall be subject to SpinCo’s vacation, paid time off, and other time-off policies (including, for the avoidance of doubt, any policies governing leaves of absence); provided, however, that SpinCo shall provide US SpinCo Employees with credit for employment service with Parent
Group or any member of the Parent Group for purposes of determining each US SpinCo Employee’s eligibility for and future accruals of vacation days under SpinCo’s vacation policy; provided that such service shall not be recognized to
the extent such recognition would result in the duplication of benefits under any such policies. To the extent required by applicable Law, SpinCo shall credit (or continue to credit) each US SpinCo Employee with the amount of accrued but unused
vacation time, paid time off, and other time-off benefits (including, for the avoidance of doubt, leave of absence benefits) as such US SpinCo Employee had with the Parent Group or the SpinCo Group as of
immediately before the Pre-Spin Transition Date (or, for any Subsequent SpinCo Employee, such employee’s Return Date). 

 

	 	vi.	 Tuition Reimbursement Benefits. To the extent that tuition liabilities that are a Liability of Parent
Group (under clause (c)(i), above) are paid by SpinCo Group, Parent Group will reimburse SpinCo Group upon the timely request of SpinCo Group for such reimbursement. 

  
 14 

 Section 5.02 Unemployment Compensation. Prior to the
Pre-Spin Transition Date, members of the Parent Group shall be responsible for making any required state unemployment contributions with respect to US SpinCo Employees or former US SpinCo Employees. If
applicable, the Parties agree that the SpinCo Group will apply to dissolve any joint unemployment accounts covering US SpinCo Employees maintained with the Parent Group, effective on December 31, 2021, and SpinCo Group shall establish new
accounts covering US SpinCo Employees as necessary to comply with such obligations for periods beginning on the Pre-Spin Transition Date. 

Section 5.03 Workers’ Compensation. The Parent Group shall be solely responsible for all workers’ compensation claims of US SpinCo
Employees and former US SpinCo Employees with respect to Workers’ Compensation Events occurring before the Pre-Spin Transition Date. The SpinCo Group shall be solely responsible for workers’
compensation claims of US SpinCo Employees and former US SpinCo Employees with respect to Workers’ Compensation Events occurring on or after the Pre-Spin Transition Date, except for claims that are
defined by individual state workers’ compensation boards as “cumulative trauma” claims which shall be treated according to applicable law. 

ARTICLE VI 
 EQUITY,
INCENTIVE AND DIRECTOR AND EXECUTIVE COMPENSATION PROGRAMS 
 Section 6.01 Equity Incentive Programs. 

 

	 	(a)	 General Principles. 

 

	 	i.	 Parent Group and SpinCo Group shall take any and all reasonable actions as shall be necessary and appropriate
to further the provisions of this Article VI, including, to the extent practicable, providing written notice or similar communication to each employee or other individual who holds one or more awards granted under the Parent Equity Plans informing
such employee of (i) the actions contemplated by this Article VI with respect to such awards and (ii) whether (and during what time period) any “blackout” period shall be imposed upon holders of awards granted under the Parent
Equity Plan during which time awards may not be exercised or settled, as the case may be. 

  

	 	ii.	 From and after the Distribution, a grantee who has outstanding awards under the Parent Equity Plan shall be
considered to have been employed by SpinCo Group to the same extent as considered employed by Parent Group before and after the Distribution for purposes of vesting. 

 

	 	iii.	 No award described in this Article VI, whether outstanding or to be issued, adjusted, substituted, assumed,
converted or cancelled by reason of or in connection with the Distribution, shall be issued, adjusted, substituted, assumed, converted or cancelled until in the judgment of the administrator of the applicable plan or program such action is
consistent with all applicable Laws, including federal securities Laws. Any period of exercisability will not be extended on account of a period during which such an award is not exercisable pursuant to the preceding sentence. 

 

	 	iv.	 SpinCo International Employees shall be subject to this Article VI to the same extent as US SpinCo Employees.

  

	 	(b)	 Establishment of SpinCo Equity Plan. On or prior to the Distribution Date, SpinCo shall establish equity
award plans for the benefit of eligible SpinCo Employees that are substantially similar to the Parent Equity Plans (the “SpinCo Equity Plans”). 

  
 15 

	 	(c)	 Options, Performance Restricted Stock Units and Restricted Stock Units. 

 

	 	i.	 Options. Each Parent Option shall, as of the Distribution Date automatically and without any action on
the part of the holder thereof, be converted into a SpinCo Option in accordance with the succeeding paragraphs of this Section 6.01(c)(i). The number of shares subject to the SpinCo Option shall be equal to the number of shares of Parent
Group common stock subject to the Parent Option multiplied by the Equity Exchange Ratio, with the resulting number of shares subject to the SpinCo Option being rounded down to the nearest whole share. The per share exercise price of the SpinCo
Option shall be equal to the per share exercise price of the Parent Option immediately prior to the Distribution Date divided by the Equity Exchange Ratio, which amount shall be rounded up to the nearest whole cent. Except as otherwise provided
herein, the terms and conditions applicable to the SpinCo Options shall be substantially identical to the terms and conditions applicable to the corresponding Parent Option, including the terms and conditions relating to vesting and the
post-termination exercise period (as set forth in the applicable plan, award agreement or in the option holder’s then applicable employment agreement with Parent Group, which terms shall remain in effect even after the expiration or termination
of such employment agreement). Notwithstanding anything in this Section 6.01(c)(i) to the contrary, the number of shares subject to the converted SpinCo Option and the per share exercise price of the converted SpinCo Option may be
adjusted to provide that the aggregate in-the-money value of the SpinCo Option immediately following the Distribution Date is equal to the aggregate in-the-money value of the corresponding Parent Option immediately prior to the Distribution Date to the extent such adjustments comply with Section 409A of the Code. To
the extent that 421(a) of the Code applies to any Parent Option, or a Parent Option is structured to avoid the application of Section 409A of the Code, the adjustments described in this Section 6.01(c)(i) will be subject to such
modifications, as any, as are required to cause the adjustment contemplated by this Section 6.01(c)(i) to be made in a manner consistent with Section 409A or 421(a) of the Code, as applicable. 

 

	 	ii.	 Performance Restricted Stock Unit Awards. Each Parent Performance Restricted Stock Unit
(“PRSU”) shall, as of the Distribution Date automatically and without any action on the part of the holder thereof, be converted into a number of SpinCo PRSUs equal to the number of units of Parent PRSUs multiplied by the Equity Exchange
Ratio, with the resulting number of units being rounded up to the nearest whole unit. The performance-vesting conditions of each SpinCo PRSU shall be deemed to have been met at the following levels: 

 

	 	(A)	 With regard to the portion of the Performance Period (as defined in the PRSU award agreements) completed as of
the Distribution Date: 

  

	 	1.	 PRSUs granted for the performance period of 2020 to 2022 shall be deemed to have met 50% of their performance
targets at the end of the Restriction Period (as defined in the PRSU award agreements); and 

  

	 	2.	 PRSUs granted for the performance period of 2021 to 2023 shall be deemed to have met 82.5% of their performance
targets at the end of the Restriction Period. 

  

	 	(B)	 With regard to the portion of the performance period occurring after the Distribution Date, PRSUs shall be
deemed to have met 100% of their performance targets at the end of the Restriction Period. 

 For avoidance of doubt,
SpinCo PRSUs will not vest until the end of the applicable Restriction Periods. Following the Distribution Date, the SpinCo PRSUs shall remain subject to the same terms and conditions as applicable to the corresponding Parent PRSUs prior to the
Distribution Date, except with regard to the performance criteria and vesting dates. 
  

	 	iii.	 Restricted Stock Unit Awards. Each Parent Restricted Stock Unit shall, as of the Distribution
Date automatically and without any action on the part of the holder thereof, be converted into a number of SpinCo Restricted Stock Units equal to the number of units of Parent Restricted Stock Units multiplied by the Equity Exchange Ratio, with the
resulting number of units being rounded up to the nearest whole unit, subject to restrictions and other terms and conditions terms and conditions substantially identical to those that applied to the Parent Restricted Stock Units immediately before
the Pre-Spin Transition Date. 

  
 16 

	 	(d)	 Employee Stock Purchase Plan. SpinCo will not be required to establish an employee stock purchase plan.
Employees of SpinCo shall not be eligible to participate in any Offering Period of the Parent ESPP beginning on or after the Pre-Spin Transition Date. All payroll deductions under the Parent ESPP shall cease
following the last payroll payment date prior to the Pre-Spin Transition Date. If an option period would be in progress on the Pre-Spin Transition Date, it shall be
shortened so that the exercise shall occur by the day prior to the Pre-Spin Transition Date. 

  

	 	(e)	 Registration and Other Regulatory Requirements. As soon as practicable following the Distribution Date,
SpinCo shall prepare and file with the SEC a registration statement on Form S-8 (or another appropriate form) registering shares of SpinCo common stock subject to issuance upon the exercise of the SpinCo
Options issuable in accordance with the provisions of this Article VI. Parent Group shall cooperate with and assist SpinCo in the preparation of such registration statement. SpinCo shall keep such registration statement effective (and maintain the
current status of the prospectus required thereby) for so long as any SpinCo Options in respect of SpinCo common stock remain outstanding. 

  

	 	(f)	 Section 16. By approving the adoption of this Agreement, the respective boards of
directors of each of Parent Group and SpinCo intend to exempt from the short swing profit recovery provisions of Section 16(b) of the Securities Exchange Act of 1934, by reason of the application of Rule 16b-3 thereunder, all acquisitions and
dispositions of equity incentive awards by non-employee directors and officers of each of Parent Group and SpinCo. 

  

	 	(g)	 Liabilities for Settlement of Awards. From and after the Distribution Date SpinCo shall be responsible
for all Liabilities associated with SpinCo Equity Awards, including any option exercise, share delivery, registration or other obligations related to the exercise, vesting or settlement of the SpinCo Equity Awards. 

 

	 	(h)	 Tax Reporting and Withholding for Equity Based Awards. SpinCo will be responsible for all income,
payroll, or other tax reporting related to income of SpinCo Employees and non-employee directors from SpinCo Equity Awards. Further, a member of the SpinCo Group shall be responsible for remitting applicable
Tax withholdings for SpinCo Employees to each applicable taxing authority. 

  

	 	(i)	 Savings Clause. The Parties hereby acknowledge that the provisions of this Article VI are intended to
achieve certain Tax, legal and accounting objectives and, in the event such objectives are not achieved, the Parties agree to negotiate in good faith regarding such other actions that may be necessary or appropriate to achieve such objectives.

 Section 6.02 Annual Bonus Plans. Effective as of the Pre-Spin Transition Date,
SpinCo shall establish or maintain the SpinCo Annual Bonus Plans as set forth in Section 2.03 hereof. Parent Group shall pay each SpinCo Employee such employee’s earned and accrued annual bonus for 2021 according to the terms of the Parent
Group’s applicable Annual Bonus Plans, but shall not be responsible for (and SpinCo shall assume all Liabilities for) any bonuses to any SpinCo Employees under any Parent Annual Bonus Plan accruing after 2021. 

  
 17 

 ARTICLE VII 

DEDUCTIONS 
 Section 7.01
Deductions. 
  

	 	(a)	 Garnishments, Tax Levies, Child Support Orders, and Wage Assignments. With respect to any SpinCo
Employees with garnishments, tax levies, child support orders, or wage assignments in effect immediately prior to the Pre-Spin Transition Date (or, for any Subsequent SpinCo Employee, such employee’s
Return Date), a member of the SpinCo Group shall, to the extent permitted by applicable Law, honor such payroll deduction authorizations and shall continue to make payroll deductions and payments to the authorized payee, as specified by the court or
governmental order which was filed prior to the Pre-Spin Transition Date (or, for any Subsequent SpinCo Employee, such employee’s Return Date). 

 

	 	(b)	 Authorizations for Payroll Deductions. Unless otherwise prohibited by this Agreement, a Benefit Plan
document, or applicable Law, with respect to SpinCo Employees with authorizations for payroll deductions and direct deposits in effect immediately prior to the Pre-Spin Transition Date (or, for any Subsequent
SpinCo Employee, such employee’s Return Date), a member of the SpinCo Group shall honor such payroll deduction authorizations and shall not require that such SpinCo Employee submit a new authorization to the extent that the type of deduction
does not differ from that made prior to the Pre-Spin Transition Date (or, for any Subsequent SpinCo Employee, such employee’s Return Date). Such deduction types include, without limitation, contributions
to any Benefit Plan and direct deposit of payroll, employee relocation loans, and other types of authorized company receivables usually collectible through payroll deductions. 

ARTICLE VIII 

MISCELLANEOUS 
 Section 8.01 Access
to Records and Information. Each Party shall provide access upon reasonable request (to the extent permissible under applicable privacy/data protection Laws) to the other Party to any and all employment records, all Form I-9s and other Information with respect to the SpinCo Employees and any other employees of SpinCo described in Section 2.02(e) that are in the possession of such Party or any of its Affiliates.

 Section 8.02 Cooperation. After the Distribution Date, each Party shall upon reasonable request provide the other Party and the other
Party’s respective Affiliates, agents and vendors all Information reasonably necessary to the other Party’s performance of its obligations hereunder. The Parties agree to use their respective best efforts and to cooperate with each other
in order to carry out their obligations hereunder and to effectuate the terms of this Agreement. Each Party shall use commercially reasonable efforts to cooperate and work together to unify, consolidate and share (to the extent permissible under
applicable privacy/data protection Laws) all relevant documents, resolutions, government filings, data, payroll, employment and benefit plan information on regular timetables and cooperate as needed with respect to (i) any claims under or audit
of or litigation with respect to any employee benefit plan, policy or arrangement contemplated by this Agreement, (ii) efforts to seek a determination letter, private letter ruling or advisory opinion from the IRS or U.S. Department of Labor on
behalf of any employee benefit plan, policy or arrangement contemplated by this Agreement, (iii) any filings that are required to be made or supplemented to the IRS, U.S. Pension Benefit Guaranty Corporation, U.S. Department of Labor or any
other Governmental Authority, and (iv) any audits by a Governmental Authority or corrective actions, relating to any benefit plan, labor or payroll practices; provided, however, that requests for cooperation must be reasonable and not interfere
with daily business operations. For the avoidance of doubt, the Parties’ duties and obligations under this paragraph shall be in addition to, and not in lieu of, the Parties’ duties and obligations under Section 4.03 above. 

Section 8.03 Asset Recoupment. To the extent the Parent Group holds any repayment “claw-back” or recoupment rights with respect to
remuneration paid or provided to SpinCo Employees (e.g., the right to require repayment of compensation upon a termination of employment) in connection with any loan or advance to a SpinCo Employee, such rights are retained by Parent Group. To the
extent allocable by applicable law, SpinCo shall recoup such payments from final pay of a terminating SpinCo Employee, and to the extent not recouped, SpinCo shall notify Parent of any terminations of employment, for SpinCo Employees who are subject
to repayment rights, within 30 days of such termination. 

  
 18 

 Section 8.04 No Third-Party Beneficiaries. This Agreement will not create any third-party
beneficiary rights, nor will it be enforceable by any Employee, any person representing the interest of Employees, or any spouse, dependent or beneficiary of any Employee, nor will anything herein be or be deemed an amendment to any Benefit Plan.
This Agreement is solely an agreement between and for the benefit of the Parties to this Agreement and will be enforceable by them. No term of this Agreement will be deemed to create any contract with any Employee or to give any Employee the right
to be retained in the employment of the Parent Group or SpinCo, or to interfere with the Parent Group’s or SpinCo’s right to terminate the employment of any employee at any time. 

Section 8.05 Compliance. The agreements and covenants of the Parties hereunder shall at all times be subject to the requirements and limitations
of applicable Law (including, for purposes of Article IV, local rules and customs relating to the treatment of pension plans) and collective bargaining, works council, or other similar agreements. Where an agreement or covenant of a Party hereunder
cannot be effected in compliance with applicable Law or an applicable collective bargaining, works council, or other similar agreement, the Parties agree to negotiate in good faith to modify such agreement or covenant to the least extent possible in
keeping with the original agreement or covenant in order to comply with applicable Law or such applicable collective bargaining agreement. Each provision of this Agreement is subject to and qualified by this Section 8.05, whether or not
such provision expressly states that it is subject to or limited by applicable Law or by applicable collective bargaining, works council, or other similar agreements. Each reference to the Code, ERISA or the Securities Act or any other Law shall be
deemed to include the rules, regulations and guidance issued thereunder. 
 Section 8.06 Preservation of Rights. Unless expressly provided
otherwise in this Agreement, nothing herein shall be construed as a limitation on the right of Parent or SpinCo to (a) amend, modify or terminate any Benefit Plan or (b) terminate the employment of any Employee. 

Section 8.07 Reimbursement. The Parties acknowledge that the Parent, on the one hand, and SpinCo, on the other hand, may incur costs and expenses
(including, without limitation, contributions to Benefit Plans and the payment of insurance premiums) which are, as set forth in this Agreement, the responsibility of the other Party. Accordingly, the Parties agree to reimburse each other for
Liabilities and obligations for which such Party is responsible, and shall provide such reimbursement reasonably promptly and in accordance with the terms of any agreement between the Parties or their Affiliates expressly addressing such matters.

 Section 8.08 Section 409A. It is the intent of the Parties that this Agreement and all arrangements referenced herein
either be exempt from, or comply with, Section 409A of the Code (“Section 409A”), and, to the maximum extent possible, each provision of this Agreement that pertains to any amount that constitutes
“deferred compensation” for purposes of Section 409A shall be interpreted and construed in accordance therewith. 
 Section 8.09
Limitation on Enforcement. This Agreement is an agreement solely between the Parties. Nothing in this Agreement, whether express or implied, shall be construed to: (a) confer upon any current or former Employee of the Parent or SpinCo,
or any other person any rights or remedies, including, but not limited to any right to (i) employment or recall; (ii) continued employment or continued service for any specified period; or (iii) claim any particular compensation,
benefit or aggregation of benefits, of any kind or nature; or (b) create, modify, or amend any Benefit Plan. 
 Section 8.10 Further Assurances
and Consents. In addition to the actions specifically provided for elsewhere in this Agreement, each of the Parties hereto shall use commercially reasonable efforts to (a) execute and deliver such further instruments and documents and take
such other actions as the other party may reasonably request to effectuate the purposes of this Agreement and carry out the terms hereof; (b) take, or cause to be taken, all actions, and do, or cause to be done, all things, reasonably
necessary, proper or advisable under applicable Laws and agreements or otherwise to consummate and make effective the transactions contemplated by this Agreement, including, without limitation, using commercially reasonable efforts to obtain any
consents and approvals and to make any filings and applications necessary or desirable to consummate the transactions contemplated by this Agreement; provided that no Party shall be obligated to pay any consideration therefor (except for
filing fees and other similar charges) to any third party from whom those consents, approvals and amendments are required, or to take any action or omit to take any action described in this paragraph if the taking of action or the omission to take
action would be unreasonably commercially burdensome to the Party or the business thereof, in which case the Parties agree to negotiate in good faith to modify the provision of this Agreement that requires such action or omission to the least extent
possible, in keeping with the Parties’ original intent behind such provision, to remove such unreasonable commercial burden. 

  
 19 

 Section 8.11 Third Party Consent. If the obligation of any Party under this Agreement depends on
the consent of a third party, such as a vendor or insurance company, and that consent is withheld, the Parties shall use commercially reasonable efforts to implement the applicable provisions of this Agreement to the fullest extent practicable. If
any provision of this Agreement cannot be implemented due to the failure of a third party to consent, the Parties shall negotiate in good faith to implement the provision in a mutually satisfactory manner, taking into account the original purposes
of the provision in light of the Distribution and communications to affected individuals. 
 Section 8.12 Effect if Distribution Does Not Occur.
If the Distribution does not occur, then all actions and events that are to be taken under this Agreement, or otherwise in connection with the Distribution, shall not be taken or occur, except to the extent specifically provided by Parent, and any
actions already taken shall be revoked and unwound. 
 Section 8.13 Disputes. The Parties agree to use commercially reasonable efforts to
resolve in an amicable manner any and all controversies, disputes and claims between them arising out of or related in any way to this Agreement. The Parties agree that any controversy, dispute or claim (whether arising in contract, tort or
otherwise) arising out of or related in any way to this Agreement that cannot be amicably resolved informally will be resolved pursuant to the dispute resolution procedures set forth in Article VII of the Separation Agreement. 

[SIGNATURE PAGE FOLLOWS]

  
 20 

 The Parties have caused this Agreement to be signed by their authorized representatives on
or as of the 1st day of March, 2022. 
  

			
	PARENT
		
	By:	 	 /s/ Chad F. Phipps

	Name:	 	Chad F. Phipps
	Title:	 	Senior Vice President, General Counsel and Secretary
	
	SPINCO
		
	By:	 	 /s/ Vafa Jamali

	Name:	 	Vafa Jamali
	Title:	 	President and Chief Executive Officer

 [Signature Page to Employee Matters Agreement] 

  
 21EX-10.3

 Exhibit 10.3 

TRANSITION SERVICES AGREEMENT 

This Transition Services Agreement (this “Agreement”) is entered into as of March 1, 2022 (the “Effective
Date”), by and between Zimmer Biomet Holdings, Inc., a corporation organized under the laws of the State of Delaware (“Parent”), and ZimVie Inc., a corporation organized under the laws of the State of Delaware
(“SpinCo”). Parent and SpinCo are each referred to in this Agreement as a “Party,” and together as the “Parties.” 

Recitals 
 WHEREAS,
concurrently with the execution of this Agreement, Parent and SpinCo are entering into a Separation and Distribution Agreement (the “Separation Agreement”), pursuant to which, among other things, Parent will transfer the SpinCo
Business to SpinCo; 
 WHEREAS, Parent, directly and indirectly through certain of its Affiliates, currently provides certain support
services to the SpinCo Business, and SpinCo and Parent desire that Parent continue to provide, or cause to be provided, certain of such services to SpinCo and its Affiliates for a transitional period, on the terms and subject to the conditions set
forth in this Agreement; and 
 WHEREAS, SpinCo and certain of its Affiliates currently provide certain support services to Parent and
certain of its Affiliates, and Parent wishes SpinCo to continue to provide certain of such services to Parent and its Affiliates, and SpinCo wishes to provide such services or cause such services to be provided, all as more fully set forth herein.

 Agreement 

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth in this Agreement, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 
 ARTICLE I 

PERFORMANCE OF SERVICES 

Section 1.1 Services. 

(a) Subject to the terms and conditions of this Agreement, each Person designated as a “Provider” (each, a
“Provider”) in a Service Schedule attached as Annex A and Annex B to this Agreement (each, a “Service Schedule”) shall perform or cause to be performed the services set forth in such Service Schedule
(the “Services”) for each Person designated as a “Recipient” (each, a “Recipient”) in such Service Schedule during the “Service Period” specified in such Service Schedule (each, a
“Service Period”). The Parties acknowledge and agree that their respective Affiliates may be Providers and/or Recipients under this Agreement, and the Parties shall cause their respective Affiliates to comply with their respective
obligations under this Agreement, and each Party shall be ultimately responsible for ensuring such compliance with respect to its Affiliates. For purposes of this Agreement, Services to be performed by Parent or its Affiliates in any Service
Schedule (a “Parent-Provider Service Schedule”) shall be referred to as “Parent-Provider Services,” and Services to be performed by SpinCo or its Affiliates in any Service Schedule (a “SpinCo-Provider
Service Schedule”) shall be referred to as “SpinCo-Provider Services”. The Parent-Provider Service Schedules are attached as Annex A to this Agreement, and the SpinCo-Provider
Service Schedules are attached as Annex B to this Agreement. 
  

 (b) In the event that the Parties mutually agree in writing to (i)(A) the provision by
Parent to SpinCo of services that are not then included in the Parent-Provider Services (each, a “New Parent-Provider Service”) or (B) a modification of a Parent-Provider Service Schedule, or (ii)(A) the provision by SpinCo to
Parent of services that are not then included in the SpinCo-Provider Services (each, a “New SpinCo-Provider Service” and, together with the New
SpinCo-Provider Services, the “New Services”) or (B) a modification of a SpinCo-Provider Service Schedule, then the Parties shall add or amend a Service Schedule to reflect such New
Service or modified Service, as applicable, including the Service Fee applicable to any such New Service or modified Service Schedule, if any, agreed upon by the Parties. Each new or amended Service Schedule shall be deemed part of this Agreement as
of the date of final agreement between the Parties with respect thereto, in each case subject to the terms and conditions of this Agreement. Except as otherwise provided in any Service Schedule, no Service Period may extend beyond the two-year anniversary of the Distribution Date, except that any Service Period may be extended up to the third anniversary of the Distribution Date in accordance with the terms hereof or of any Service Schedule. 

(c) Each Service Schedule is hereby incorporated into and shall form a part of this Agreement; provided, however, that the terms
contained in such Service Schedule shall only apply with respect to the Services provided under that Service Schedule. In the event of a conflict between the terms contained in an individual Service Schedule and the terms in the body of this
Agreement, the terms in the Service Schedule shall take precedence with respect to the Services under such Service Schedule only. No terms contained in any individual Service Schedule shall otherwise modify the terms of this Agreement. 

Section 1.2 Service Periods. Subject to earlier termination pursuant to Section 5.3, a Provider’s
obligation to perform the Services set forth in any Service Schedule shall terminate on the last day of the “Service Period” specified in such Service Schedule. 

Section 1.3 Subcontracting. Each Provider of Services shall have the right to subcontract such Services to one or more third
parties; provided, however, that (a) consent of the Recipient shall not be required to the extent the same third parties provided the same Services prior to the Effective Date; (b) to the extent the Services were not provided by such third
party prior to the Effective Date, the subcontracting Provider shall provide at least 15 days’ advance written notice to the Recipient prior to engaging such subcontractor for such Services; (c) the subcontracting Provider shall execute
the necessary contracts, and the appropriate provisions, required under applicable Laws; (d) the subcontracting Provider shall use reasonable care and prudence in the selection and monitoring of any such subcontractor; (e) the
subcontracting Provider shall remain primarily responsible for ensuring that such Services are provided and that any such subcontractor performs its obligations in accordance with the terms of this Agreement; and (f) notwithstanding anything to
the contrary in Article II, if the subcontracting Provider provided a Service directly (and not through a subcontractor) during the Service Baseline Period, then the subcontracting Provider shall bear any incremental cost
of providing such Service to the Recipient through such subcontractor above the cost (including applicable Service Fees and Reimbursable Costs) of the subcontracting Provider directly providing such Service. 

  
 2 

 Section 1.4 Cooperation. Each Recipient of Services shall (a) perform any
obligations or activities assigned to such Recipient in this Agreement, including in the applicable Service Schedule(s); (b) promptly provide to the applicable Provider (and any applicable subcontractors) the materials, documentation and
information reasonably necessary for performance of such Services; (c) comply with the Provider’s reasonable instructions that are necessary for the Provider to perform such Services; (d) promptly report to the Provider any known
problem affecting the performance of any such Services; (e) participate in discussions regarding the provision of Services where reasonably required by the Provider in order to facilitate decision making in relation to the Services; and
(f) subject to Recipient’s reasonable policies and procedures, grant the Provider (and any subcontractors) access to such Recipient’s premises and systems as reasonably necessary for the Provider to perform its obligations hereunder;
provided, that this Section 1.4 shall not require a Party to incur any out-of-pocket costs or expenses, unless and except as expressly provided
in this Agreement or otherwise agreed in writing by the Parties. In the event that a Recipient fails to comply with any of the obligations under clauses (a) – (f) above, and such failure adversely affects Provider’s ability to perform the
Services, Provider shall have the right, after giving 10 days’ prior written notice to the Recipient, to suspend the applicable Services until such failure is resolved. 

Section 1.5 Consents. Nothing in this Agreement shall require a Provider to perform or cause to be performed any Service to the
extent that the manner of such performance would constitute a violation of any applicable Law or any existing contract or agreement with a third party. If a Provider becomes aware that any such violation is reasonably likely, such Provider
shall use commercially reasonable efforts to promptly advise the Recipient of such potential violation, and such Provider and Recipient will mutually seek an alternative that addresses such potential violation. The Parties shall cooperate with
one another and use their respective commercially reasonable efforts to obtain all appropriate consents, waivers, permits, licenses, and/or sublicenses (“Consents”), where reasonably necessary, of any relevant third party required
under any existing contract or agreement with a third party to allow Provider to perform, or cause to be performed, all Services to be provided hereunder in accordance with the standards set forth herein. Recipient shall reimburse Provider for all
reasonable and out-of-pocket costs and expenses (if any) incurred by Provider or any of its Subsidiaries in connection with obtaining such Consent. Neither Provider nor
Recipient shall be obligated to contribute any capital, pay any consideration, grant any concession or incur any additional Liability to any third party other than ordinary and customary fees to a Governmental Authority from whom such consents are
required, which shall be payable by the Recipient. If, with respect to a Service, the Parties, despite the use of such commercially reasonable efforts, are unable to obtain any such Consent, the Recipient shall be responsible for procuring the
Services from alternative sources and the Provider shall have no further responsibility for such Services. 
 Section 1.6
Transitional Nature of the Services. Each Party acknowledges the transitional nature of the Services and agrees that each Recipient shall use its commercially reasonable efforts to transition the Services to its own internal organization or
to engage alternative third-party service providers as soon as reasonably practicable after the Effective Date and in no event later than the last day of the Service Period referenced in the applicable Service Schedule. 

  
 3 

 Section 1.7 Relationship of the Parties. The Parties acknowledge and agree that
this Agreement does not create a fiduciary relationship, partnership, joint venture or relationships of trust or agency between the Parties and that all Services are performed by Providers as independent contractors to the Recipients. 

ARTICLE II 

COMPENSATION 

Section 2.1 Service Fees. SpinCo shall pay to Parent, on a quarterly basis in arrears, the aggregate amount due by SpinCo and its
Affiliates in respect of the Parent-Provider Services in accordance with the amounts, formulas and procedures set forth in the “Service Fees” section in the Parent-Provider Service Schedules (the “Parent-Provider Service
Fees”). Parent shall pay to SpinCo, on a quarterly basis in arrears, the aggregate amount due by Parent and its Affiliates in respect of the SpinCo-Provider Services in accordance with the amounts, formulas and procedures set forth in the
“Service Fees” section in the SpinCo-Provider Service Schedules (the “SpinCo-Provider Service Fees,” and together with the Parent-Provider Service Fees, the “Services Fees”). During the term of this
Agreement, the amount of a Service Fee for any Service may be modified to the extent of (a) any adjustments mutually agreed by the Parties, (b) any adjustments due to a change in Level of Service requested by Recipient and agreed by
Provider, and (c) any adjustment in the rates or charges imposed by any third-party provider that is providing Services; provided that Provider will notify Recipient in writing of any such change in rates at least thirty (30) days
prior to the effective date of such rate change. Together with any invoice for Service Fees, Provider shall provide Recipient with reasonable documentation, including any additional documentation reasonably requested by Recipient to the extent that
such documentation is in Provider’s or its Subsidiaries’ possession or control, to support the calculation of such Service Fees. 

Section 2.2 Reimbursement. To the extent not included in the Service Fee for a Service and subject to the other terms and
conditions of this Agreement, SpinCo shall reimburse Parent for all reasonable documented out-of-pocket costs and expenses (including reasonable travel-related expenses)
actually incurred by Parent and its Affiliates in connection with the performance of the Parent-Provider Services under this Agreement (“Parent Reimbursable Costs”). To the extent not included in the Service Fee for a Service and
subject to the other terms and conditions of this Agreement, Parent shall reimburse SpinCo for all reasonable documented out-of-pocket costs and expenses (including
reasonable travel-related expenses) actually incurred by SpinCo and its Affiliates in connection with the performance of the SpinCo-Provider Services under this Agreement (“SpinCo Reimbursable Costs,” and together with the
Parent Reimbursable Costs, the “Reimbursable Costs”). Each Party shall make available to the other Party, upon reasonable request, receipts and other relevant documentation pertaining to Reimbursable Costs. 

Section 2.3 Invoicing; Payment. Within 15 days after the end of each calendar quarter until the expiration or termination of this
Agreement, (a) Parent shall submit to SpinCo an invoice or invoices for Parent-Provider Service Fees due and Parent Reimbursable Costs incurred during such calendar quarter, and (b) SpinCo shall submit to Parent an invoice or invoices for
SpinCo-Provider Service Fees due and SpinCo Reimbursable Costs incurred during such calendar quarter. Each invoice shall set forth in reasonable detail the calculation of the charges and amounts and applicable Taxes for each Service for which such
invoice relates. Unless otherwise specified in 

  
 4 

 
the Service Schedules, amounts due under this Agreement shall be invoiced and paid in U.S. dollars by wire transfer of immediately available funds to one or more accounts designated by the Party
to whom such payments are owed. All payments due under this Agreement (other than any amounts disputed by a Party in good faith) shall be made within 30 days after the date of the applicable invoice (the “Due Date”). Late payments
shall bear interest at a rate equal to five percent (5%) per annum. Such interest shall be calculated on the basis of the actual number of days elapsed from the Due Date up to and including the actual date of payment, without compounding. 

Section 2.4 Right to Suspend Services. If payment in full of any invoice (other than amounts disputed by a Party in good faith) is
not received by the Due Date of such invoice, to the extent the aggregate amount of such overdue unpaid invoices exceeds $1,000,000, the Party to whom such payment is owed shall have the right, after giving 15 days’ prior written notice to the
other Party, to suspend all or any portion of the Service or other obligations under this Agreement as to which such overdue payment relates until such time as all amounts then due, including any accrued interest, have been paid. After such payment
in full is received, performance of the suspended Services and other obligations shall resume. 
 Section 2.5 Taxes. 

(a) Each Recipient shall be responsible for (i) excise, sales, use, transfer, stamp, documentary, filing, recordation and other similar
Taxes, (ii) value added, goods and services or similar recoverable indirect Taxes (“VAT”) and (iii) any related interest and penalties (collectively, “Sales Taxes”), in each case imposed or assessed as a
result of the provision of such Services, but excluding any gross receipts-based or net-income based Taxes. In particular, but without prejudice to the generality of the foregoing, all amounts payable pursuant
to this Agreement are exclusive of amounts in respect of Sales Taxes. Any Sales Taxes shall be separately stated on the relevant invoice to a Recipient and will be payable by such Recipient pursuant to Section 2.3. Where
any taxable supply for VAT purposes is made pursuant to this Agreement by a Provider to a Recipient, the Recipient shall either (x) on receipt of a valid VAT invoice pay to the Provider or its designee such additional amounts in respect of VAT
as are chargeable on the supply of the Services at the same time as payment is due for the supply of the Services; or (y) where required by applicable Law to do so, account directly to the relevant Governmental Authority for any such VAT
amounts. Each Provider agrees that it shall take commercially reasonable actions to cooperate with each Recipient in obtaining any refund, return, rebate, or the like of any Sales Tax, including by filing any necessary exemption or other similar
forms, certificates, or other similar documents. The Recipient shall promptly reimburse the Provider for any costs incurred by the Provider or its Affiliates in connection with the Recipient obtaining a refund or overpayment of refund, return,
rebate, or the like of any Sales Tax. For the avoidance of doubt, any applicable gross receipts-based or net income-based Taxes shall be borne by the Provider unless the Provider is required by Law to obtain, or allowed to separately invoice for and
obtain, reimbursement of such Taxes from the applicable Recipient. 
 (b) Each Recipient shall be entitled to deduct and withhold Taxes
required by any Governmental Authority to be withheld on payments made pursuant to this Agreement. To the extent any amounts are so withheld, the applicable Recipient shall (i) pay, in addition to the amount otherwise due to the Provider under
this Agreement, such additional amount as is necessary to ensure that the net amount actually received by the Provider will equal the 

  
 5 

 
full amount the Provider would have received had no such deduction or withholding been required, (ii) pay such deducted and withheld amount to the proper Governmental Authority, and
(iii) promptly provide to the Provider evidence of such payment to such Governmental Authority. Any amounts so deducted or withheld shall be considered paid to the Provider for all purposes of this Agreement. The Provider shall, prior to the
date of any payment to be made pursuant to this Agreement, at the request of the Recipient, make commercially reasonable efforts to provide the Recipient any certificate or other documentary evidence (x) required by any Governmental Authority
or under applicable Law or (y) which the Provider is entitled by any Governmental Authority or under applicable Law to provide in order to reduce the amount of any Taxes that may be deducted or withheld from such payment and the Recipient
agrees to accept and act in reliance on any such duly and properly executed certificate or other applicable documentary evidence. 

Section 2.6 Currency Exchange Rate Service Fee Adjustments. During the term of this Agreement, each Provider will determine
semi-annually (on June 15 and December 15 of each year) whether the Exchange Rate between U.S. dollars and the official local currency for each country in which such Provider performs Services has changed by more than 5% since the later of
the Effective Date or June 15 of the immediately preceding year. If the Exchange Rate has changed by more than 5% since the later of the Effective Date or June 15 of the immediately preceding year, the Parties shall cooperate to promptly
adjust the Service Fees with respect to the Services provided in such country, with such adjustment being effective for all Services performed by such Provider from the June 15 or December 15 date on which the change was measured. 

ARTICLE III 
 STANDARD
OF SERVICES; INDEMNIFICATION; LIMITATIONS 
 Section 3.1 Standard of Services. Each Provider shall, and shall cause each
subcontractor to, (a) perform the Services in all material respects in accordance with applicable Laws, and (b) except as expressly provided otherwise in the Service Schedules, use commercially reasonable efforts to perform the Services in
a manner substantially consistent with the quality, manner, level of care, skill, timeliness and diligence with which such Services (or analogous services) were performed for the Recipient (the “Level of Service”) in the six-month period immediately prior to the Effective Date (the “Service Baseline Period”); provided, that, if not so previously provided, then such Services shall be performed in a manner
substantially similar to similar services provided to Provider’s Affiliates or businesses. Notwithstanding the foregoing, a Provider may make changes from time to time in the manner of performing the Services if such Provider is making similar
changes in performing analogous services for itself and if such Provider furnishes to Recipient reasonable prior written notice (in content and timing) of such changes; provided, that if such change shall materially adversely affect the
timeliness or quality of, or the Service Fees for, the applicable Service, the Parties shall cooperate to agree on modifications to such Services as are commercially reasonable in consideration of the circumstances. Unless a Service Schedule
specifies a particular volume or quantity, the applicable Provider shall not be obligated to perform any Service in a volume or quantity at a rate that exceeds the rate of the highest volumes or quantities of analogous services provided for the
benefit of the Recipient during the Service Baseline Period. No Provider shall be required to perform any of the Services for the benefit of any Person other than the applicable Recipient for such Service. 

  
 6 

 Section 3.2 Personnel. Except as otherwise agreed by the Parties in writing and
subject to Section 1.3, each Provider shall have sole discretion and authority with respect to designating, employing, assigning, compensating and discharging personnel, third party service providers, subcontractors and
consultants in connection with performance of the Services and notwithstanding anything to the contrary herein, in no event shall a Provider be obligated under this Agreement to retain or hire any specific personnel, third party service providers,
subcontractors or consultants, acquire any equipment or technology, expand or modify any facilities or incur any capital expenditures, unless the Provider agrees, in its sole discretion, to do so, and the Recipient agrees to bear all related costs
and expenses in accordance with the terms hereof. Notwithstanding anything to the contrary herein, and for clarity, in no event shall Parent or its Affiliates have any obligation to favor operation of the SpinCo Business over its own business
operations or those of its Affiliates. 
 Section 3.3 Disclaimer. RECIPIENT HEREBY ACKNOWLEDGES THAT PROVIDER AND ITS
AFFILIATES DO NOT ORDINARILY PROVIDE THE SERVICES CONTEMPLATED UNDER THIS AGREEMENT TO THIRD PARTIES AS PART OF THEIR RESPECTIVE BUSINESS ACTIVITIES. ACCORDINGLY, EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS AGREEMENT, RECIPIENT ACKNOWLEDGES AND
AGREES THAT THE SERVICES ARE PROVIDED “AS IS”, THAT RECIPIENT ASSUMES ALL RISK AND LIABILITY ARISING FROM OR RELATING TO ITS USE AND RELIANCE UPON THE SERVICES, AND NEITHER PROVIDER NOR ITS AFFILIATES NOR ANY OF THEIR RESPECTIVE
REPRESENTATIVES MAKES ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER, EXPRESS OR IMPLIED, AT LAW OR IN EQUITY, BY STATUTE OR OTHERWISE, IN CONNECTION WITH OR WITH RESPECT TO ANY OF THE SERVICES. PROVIDER AND ITS AFFILIATES AND THEIR
RESPECTIVE REPRESENTATIVES DISCLAIM ALL OTHER EXPRESS AND ALL IMPLIED WARRANTIES RELATING TO THE SERVICES, INCLUDING IMPLIED WARRANTIES OF QUALITY, MERCHANTABILITY AND FITNESS FOR A PARTICULAR USE OR PURPOSE, ALL WARRANTIES ARISING OUT OF COURSE OF
DEALING OR USAGE OF TRADE AND THE NON-INFRINGEMENT OF ANY INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES.  

Section 3.4 Impracticability. No Provider shall be required to perform any Service to the extent the performance of such Service
becomes impracticable as a result of a cause outside the reasonable control of such Provider, including an act of God or public enemy, war, terrorism, government acts or regulations, administrative acts or decisions, fire, flood, embargo,
quarantine, epidemic, pandemic or disease outbreak (including COVID-19) or worsening thereof, labor strike or work stoppage by workers, accident, closing of ports, unusually severe weather or any other cause
similar to any of the foregoing, or to the extent the provision of such Service would require such Provider to violate any applicable Law or any existing contract or agreement with a third party (any such cause or legal, policy or contractual
impediment, an “Impracticability Event”). Such Provider shall promptly notify the applicable Recipient upon learning of such Impracticability Event and shall use commercially reasonable efforts to resolve or work around

  
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any such Impracticability Event and to resume the performance of a suspended Service as soon as reasonably practicable. During the period of an Impracticability Event, to the extent Provider
fails to provide any Services because substitute services are not commercially reasonable or technically feasible, Recipient shall be relieved of its obligation to pay the applicable Service Fee on a pro rata basis for such period (i.e., with
the applicable Service Fee reduced by a percentage equivalent to the length of such temporary nonperformance as related to the number of days in the billing cycle for the applicable Services). 

Section 3.5 Operations; Facilities. If a Recipient intends to modify the current operation or facilities (including changing
location of facilities) of the Parent Business or the SpinCo Business, as applicable, in any material respect, and such modified operations or facilities would prevent the Provider from performing the Services or materially increase the cost to
provide any Services, the Recipient shall promptly, and in any event at least 30 days prior to such modification, notify the Provider of such intended modifications. The Parties shall negotiate in good faith to continue the provision of the relevant
Services and, failing such agreement, the Provider shall not be required to provide such Services to the extent affected by such modification. 

Section 3.6 Indemnification.  

(a) Subject to the limitations set forth in Section 3.7, except as otherwise specifically set forth in the
Separation Agreement or in any Ancillary Agreement, Parent shall, and shall cause the members of the Parent Group to, defend, indemnify and hold harmless SpinCo, each member of the SpinCo Group and each of their respective past, present and future
directors, officers, employees and agents, in each case in their respective capacities as such, and each of the heirs, executors, successors and assigns of any of the foregoing (collectively, the “SpinCo Indemnified
Parties”), from any and all Liabilities incurred by such SpinCo Indemnified Parties to the extent relating to, arising out of or resulting from (i) the material breach of this Agreement by Parent or any of its Affiliates, or
(ii) the fraud, bad faith, gross negligence or willful misconduct of Parent or any of its Affiliates in performing their respective obligations under this Agreement. 

(b) Subject to the limitations set forth in Section 3.7, except as otherwise specifically set forth in the
Separation Agreement or in any Ancillary Agreement, SpinCo shall, and shall cause the members of the SpinCo Group to, defend, indemnify and hold harmless Parent, each member of the Parent Group and each of their respective past, present and future
directors, officers, employees and agents, in each case in their respective capacities as such, and each of the heirs, executors, successors and assigns of any of the foregoing (collectively, the “Parent Indemnified Parties”), from
any and all Liabilities incurred by such Parent Indemnified Parties to the extent relating to, arising out of or resulting from (i) the material breach of this Agreement by SpinCo or any of its Affiliates, or (ii) the fraud, bad faith,
gross negligence or willful misconduct of Parent or any of its Affiliates in performing their respective obligations under this Agreement. 

(c) To the extent that Parent and SpinCo have indemnification obligations to one another in connection with a single Action, Parent and SpinCo
shall contribute to the aggregate Liabilities arising from such Action in such proportion as is appropriate to reflect their relative Liabilities, as well as any other relevant equitable considerations. The amount paid or payable by Parent or SpinCo
for purposes of apportioning the aggregate Liabilities shall be deemed to include all reasonable legal fees and expenses incurred by such Party in connection with investigating, preparing for or defending against such Action. If the Parties cannot
agree on an allocation of any such Liabilities for Actions, they shall resolve the matter pursuant to the procedures set forth in Article VII of the Separation Agreement. 

  
 8 

 (d) The procedures for indemnification set forth in Sections 4.5, 4.6 and 4.7 of the
Separation Agreement shall govern claims for indemnification under this Agreement, mutatis mutandis. 
 (e) The indemnities contained
in this Section 3.6 shall survive for a period of 12 months after the expiration or termination of this Agreement for any reason. Notwithstanding the preceding sentence, any Action in respect of which indemnity may be
sought under this Agreement shall survive the time at which it would otherwise terminate pursuant to the preceding sentence if a written notice of an indemnification claim shall have been given by the Party seeking indemnification prior to the
expiration of the 12-month survival period. 
 (f) Tax Matters Agreement Coordination. The
provisions of Section 3.6(a)-(e) shall not apply to Taxes to the extent specifically addressed in the Tax Matters Agreement, subject to the terms thereof. It is understood and agreed that Taxes and Tax matters, including
the control of Tax-related proceedings, shall be governed by the Tax Matters Agreement to the extent specifically addressed in the Tax Matters Agreement, subject to the terms thereof. In the case of any
conflict or inconsistency between this Agreement and the Tax Matters Agreement in relation to any matters addressed by the Tax Matters Agreement, the Tax Matters Agreement shall prevail. All capitalized terms used in this
Section 3.6(f) but not defined in this Agreement have the meaning ascribed thereto in the Separation Agreement. 

Section 3.7 Limitation of Liability. NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THIS AGREEMENT, TO THE GREATEST EXTENT
PERMITTED BY APPLICABLE LAW, (A) NO PROVIDER SHALL BE RESPONSIBLE FOR ANY ACT OR OMISSION OF ANY RECIPIENT OR SUCH RECIPIENT’S AFFILIATES OR REPRESENTATIVES IN RESPECT OF THE SERVICES; (B) IN NO EVENT SHALL
EITHER PARTY OR ITS AFFILIATES OR REPRESENTATIVES BE LIABLE FOR NEGLIGENCE (OTHER THAN GROSS NEGLIGENCE) IN PERFORMING THEIR OBLIGATIONS UNDER THIS AGREEMENT; AND (C) IN NO EVENT SHALL EITHER PARTY OR ITS AFFILIATES OR
REPRESENTATIVES BE LIABLE FOR ANY CONSEQUENTIAL DAMAGES THAT ARE NOT REASONABLY FORESEEABLE OR ANY PUNITIVE OR SPECIAL DAMAGES, LOSS OF REVENUE, INCOME OR PROFITS, DOWNTIME, DIMINUTION IN THE VALUE OR PERFORMANCE OR ANY MULTIPLE THEREOF AND
DIMINUTION OR LOSS OF BUSINESS, REPUTATION OR OPPORTUNITY OR ANY MULTIPLE THEREOF, ARISING FROM OR RELATING TO ANY ACT OR OMISSION UNDER THIS AGREEMENT; PROVIDED, HOWEVER, THAT THE LIMITATIONS OF LIABILITY IN THIS CLAUSE (C) SHALL
NOT APPLY TO LOSSES RESULTING FROM SUCH PARTY’S OR ITS AFFILIATE’S FRAUD, BAD FAITH OR WILLFUL MISCONDUCT OR FOR THIRD PARTY CLAIMS SUBJECT TO INDEMNIFICATION PURSUANT TO SECTION 3.6. NOTWITHSTANDING ANYTHING TO THE
CONTRARY CONTAINED HEREIN, THE LIABILITY OF EACH PROVIDER AND ITS AFFILIATES WITH RESPECT TO THIS AGREEMENT OR ANYTHING DONE (OR OMITTED) IN CONNECTION HEREWITH, 

  
 9 

 
INCLUDING THE PERFORMANCE OR BREACH HEREOF, OR FROM THE SALE, DELIVERY, PROVISION OR USE OF ANY OF THE SERVICES PROVIDED UNDER OR PURSUANT TO THIS AGREEMENT, WHETHER IN CONTRACT, IN
TORT OR OTHERWISE, SHALL NOT EXCEED THE AGGREGATE SERVICES FEES PAID IN THE IMMEDIATELY PRECEDING ONE-YEAR PERIOD TO THE PROVIDER AND ITS AFFILIATES PURSUANT TO THIS AGREEMENT. 

ARTICLE IV 

CONFIDENTIALITY; INTELLECTUAL PROPERTY; DATA SECURITY 

Section 4.1 Confidentiality. Section 6.9 of the Separation Agreement is hereby incorporated by reference herein (but for this
purpose, only to the extent applicable to this Agreement, and not to the Separation Agreement or any other Ancillary Agreement), with such sections applying to all Parties hereunder as the context allows. 

Section 4.2 Intellectual Property. 

(a) Each Provider, for itself and on behalf of its Affiliates, hereby grants to each Recipient and such Recipient’s Affiliates, and each
Recipient, for itself and on behalf of its Affiliates, hereby grants to each Provider and such Provider’s Affiliates, a non-exclusive, revocable, non-transferable
(except as provided in Section 6.3), non-sublicensable (except to third parties as required for the provision or receipt of Services, but not for their own independent use), royalty-free, worldwide license to use any
Intellectual Property which is owned or controlled by the granting Party or such granting Party’s Affiliates (including, for clarity, any and all improvements, modifications, enhancements or derivative works thereof owned by such granting Party
or its Affiliates), solely to the extent and for the duration necessary for the Provider to provide, or the Recipient to receive, the applicable Service under this Agreement. 

(b) Except as expressly provided in this Agreement (including any Service Schedule), no Recipient shall otherwise acquire any right, title or
interest (including any license rights or rights of use) in any such Intellectual Property by reason of the provision of the Services. Any Intellectual Property that is created, authored, conceived of, made, or otherwise developed by or on behalf of
a Provider or its Representatives in performing the Services will remain, as between the Parties, the sole property of (and exclusively owned by) such Provider; provided that (a) such Recipient shall own any written reports or tangible
deliverables (whether in paper, electronic, or other form) resulting from the performance of the Services that Provider, at a Recipient’s request, prepares specifically for and delivers to such Recipient is hereby assigned to such Recipient;
and (b) such Provider, for itself and on behalf of its Affiliates, hereby grants to such Recipient and such Recipient’s Affiliates a non-exclusive, irrevocable, perpetual, non-transferable (except as provided in Section 6.3), non-sublicensable (except to third parties as required for the provision or receipt of Services, but not for their own independent
use), royalty-free, worldwide license to use any Intellectual Property which is owned by such Provider or such Provider’s Affiliates (including, for clarity, any and all improvements, modifications, enhancements or derivative works thereof
owned by such Provider or its Affiliates) that is contained in such written reports or tangible deliverables solely to the extent necessary for such Recipient and its Affiliates to use such written reports or tangible deliverables for their intended
purpose in the conduct of their business. To the extent any right, title or interest in or to any Intellectual Property created by a Provider hereunder vests in a Recipient, by operation of law or otherwise, in a manner contrary to the agreed upon
ownership as set forth in this Section 4.2, such Recipient hereby presently assigns (and without limiting the foregoing, agrees in the future to assign) to such Provider any and all such right, title or interest in and to
such Intellectual Property. 

  
 10 

 (c) Except as expressly set forth herein, each Party expressly acknowledges that nothing
contained herein shall be construed or interpreted as a grant or transfer, by implication or otherwise, of any licenses or other rights in Intellectual Property. 

Section 4.3 Data Protection; Information Security and Privacy. 

(a) Each Party shall ensure that it complies in all material respects with all applicable requirements of privacy and data protection Laws and
the Data Protection Agreement in relation to its performance under this Agreement. 
 (b) Each Provider will maintain commercially
reasonable security measures to protect the confidentiality, integrity and availability of the systems utilized to provide the Services, and the related data (including confidential, proprietary and personal information and protected health
information). Each Provider shall use commercially reasonable measures to protect any data owned by the other Provider and shared with such Provider, consistent with such Provider’s practices in protecting its own data, but in no event less
than customary and reasonable practices or as required by applicable privacy and cybersecurity laws. 
 (c) In the event of a security
incident or data breach impacting a Provider’s systems, related data or Services, the Provider shall give notice of such security incident or data breach, provide a description of the nature and scope of the incident, and provide reasonable
assistance and cooperation in any investigation, as soon as possible but in no event less than required by applicable privacy and cybersecurity laws or contracts. No Provider shall notify or otherwise disclose the existence of any security incident
or data breach related to the other Party’s data (including confidential, proprietary and personal information and protected health information), without the consent of the other Party, unless otherwise required by applicable privacy and
cybersecurity laws or contracts. 
 ARTICLE V 

TERM AND TERMINATION 

Section 5.1 Term. The term of this Agreement shall commence as of the Effective Date and, subject to earlier termination pursuant
to Section 5.3, shall expire upon the last to expire or terminate of the Service Periods. 
 Section 5.2
Service Periods; Renewals. Subject to earlier termination pursuant to Section 5.3, this Agreement shall terminate with respect to any Service upon the expiration or termination of the Service Period for such Service.
Any Service Period may be renewed or extended only by mutual written agreement of the Parties pursuant to Section 1.1(b). 

  
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 Section 5.3 Termination. 

(a) A Party (the “Non-Breaching Party”) may terminate this Agreement with respect to
any Service, in whole but not in part, at any time upon 30 days’ prior written notice to the other Party (the “Breaching Party”) if the Breaching Party (or its Affiliate) has failed to perform any of its material obligations
under this Agreement relating to such Service, and such failure shall have continued without cure for a period of 30 days after receipt by the Breaching Party of a written notice of such failure from the
Non-Breaching Party. For the avoidance of doubt, failure of a Party to pay amounts owed with respect to a Service in accordance with this Agreement shall be deemed a breach for purposes of this
Section 5.3(a). 
 (b) A Recipient may terminate this Agreement with respect to any Service, in whole but not in
part, at any time upon 60 days’ prior written notice to the applicable Provider for any reason or no reason; provided, that, if earlier notice is otherwise required by the terms of a contract with a subcontractor, the notice period with
respect to the applicable Service shall be the notice period set forth in such contract, plus 10 days. Upon early termination by a Recipient with respect to any Service pursuant to this Section 5.3(b), Recipient shall
reimburse Provider (or its Affiliates) for such reasonable and foreseeable documented out-of-pocket fees, costs and expenses (the “Termination Charges”)
as may be incurred by Provider (or its Affiliates) as a result of such early termination or significant reduction of such Service. Such Termination Charges are either set forth on a Service Schedule or shall be provided to Recipient upon request.
Such Termination Charges may include wind-down costs, breakage fees, early termination fees or charges, minimum volume make-up charges or other amounts payable to third parties or internal costs incurred by
Provider (or its Affiliates) in its commercially reasonable efforts to discontinue the provision of such Services. Provider shall, and shall cause its Affiliates to, use commercially reasonable efforts to minimize the existence and amount of such
Termination Charges; provided, that the foregoing obligations shall not alter or diminish Recipient’s obligation to pay Termination Charges as reasonably determined by Provider in accordance with the terms hereof. 

(c) This Agreement may be terminated, in whole or in part (including with respect to any particular Service), by mutual written agreement of
the Parties at any time. Such written agreement shall specify the effective date of termination and the applicable terms and conditions in connection therewith. 

Section 5.4 Survival of Obligations. The expiration or termination of this Agreement or of any Service Period for any reason shall
not relieve the Parties of any obligation that accrued prior to such expiration or termination, including all obligations of any Recipient to pay any Service Fees due to any Provider hereunder. The provisions in the following Sections and Articles
shall survive the expiration or termination of this Agreement or any Service Period for any reason: Sections 3.3, 3.6, 3.7, 4.1 and 5.4; and Article VI. 

ARTICLE VI 

MISCELLANEOUS 

Section 6.1 Severability. If any provision of this Agreement or the application thereof to any Person or circumstance is determined
by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof or thereof, or the application of such provision to Persons or circumstances or in jurisdictions other than those as to which it has been held
invalid or unenforceable, shall remain in full force and effect and shall in no way be affected, impaired or invalidated thereby. Upon such determination, the Parties shall negotiate in good faith in an effort to agree upon such a suitable and
equitable provision to effect the original intent of the Parties. 

  
 12 

 Section 6.2 Notices. All notices, requests, claims, demands or other
communications under this Agreement shall be in writing and shall be given or made (and except as provided herein, shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, by certified mail,
return receipt requested, or by electronic mail (“e-mail”), so long as confirmation of receipt of such e-mail is requested and received, to the
respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this Section 6.2): 

If to Parent, to: 
 c/o Zimmer
Biomet Holdings, Inc. 
 345 East Main Street 

Warsaw, Indiana 46580 

Attention: General Counsel 
 E-mail: legal.americas@zimmerbiomet.com 
 with copies (which will not constitute notice) to: 

White & Case LLP 
 1221
Avenue of the Americas 
 New York, New York 10020-1095 

Attention: Morton A. Pierce, Esq. 

Michelle B. Rutta, Esq. 

Robert Chung, Esq. 

E-mail:  
morton.pierce@whitecase.com 

              michelle.rutta@whitecase.com 

              robert.chung@whitecase.com 

and 
 Faegre Drinker
Biddle & Reath LLP 
 600 E. 96th Street, Suite 600 

Indianapolis, IN 46240 

Attention: Trevor J. Belden 
 E-mail: trevor.belden@faegredrinker.com 
 If to SpinCo, to: 

ZimVie Inc. 
 10225 Westmoor Dr.

 Westminster, CO 80021 

Attention: Heather Kidwell, General Counsel 

E-mail: heather.kidwell@zimvie.com 

  
 13 

 with copies (which will not constitute notice), to: 

White & Case LLP 
 1221
Avenue of the Americas 
 New York, New York 10020-1095 

Attention:   Morton A. Pierce, Esq. 

Michelle B. Rutta, Esq. 

Robert Chung, Esq. 

E-mail:       morton.pierce@whitecase.com 

michelle.rutta@whitecase.com 

robert.chung@whitecase.com 

and 
 Faegre Drinker
Biddle & Reath LLP 
 600 E. 96th Street, Suite 600 

Indianapolis, IN 46240 

Attention: Trevor J. Belden 
 E-mail: trevor.belden@faegredrinker.com 
 Section 6.3 Assignability. This Agreement shall be
binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns; provided, however, that neither Party may assign its rights or delegate its obligations under this Agreement without the
express prior written consent of the other Party. Notwithstanding the foregoing, no such consent shall be required for the assignment of a Party’s rights and obligations under this Agreement in connection with a Change of Control of a Party so
long as the resulting, surviving or transferee Person assumes all the obligations of the assigning Party by operation of Law or pursuant to an agreement in form and substance reasonably satisfactory to the
non-assigning Party. 
 Section 6.4 Third Party Beneficiaries. Except as provided in
Section 3.6 with respect to SpinCo Indemnified Parties and Parent Indemnified Parties (in their respective capacities as such), (a) the provisions of this Agreement are solely for the benefit of the Parties and are not
intended to confer upon any other Person any rights or remedies hereunder, and (b) there are no third-party beneficiaries of this Agreement and this Agreement shall not provide any third party with any remedy, claim, Liability, reimbursement,
claim of action or other right in excess of those existing without reference to this Agreement. 
 Section 6.5 Waiver of
Default. Waiver by a Party of any default by the other Party of any provision of this Agreement must be in writing and shall not be deemed a waiver by the waiving Party of any subsequent or other default, nor shall it prejudice the rights of the
other Party. No failure or delay by a Party in exercising any right, power or privilege under this Agreement shall operate as a waiver thereof, nor shall a single or partial exercise thereof prejudice any other or further exercise thereof or the
exercise of any other right, power or privilege. 
 Section 6.6 Dispute Resolution. Article VII of the Separation Agreement is
hereby incorporated by reference herein (but for this purpose, only to the extent applicable to this Agreement, and not to the Separation Agreement or any other Ancillary Agreement). Parent designates SVP of Strategy and SpinCo designates SVP of
Strategy for purposes of Section 7.1(a) of the Separation Agreement. Each Party may replace its designee upon written notice to the other Party. 

  
 14 

 Section 6.7 Governing Law. 

(a) This Agreement (and any claims or disputes arising out of or related hereto or thereto or to the transactions contemplated hereby or to
the inducement of any party to enter herein, whether for breach of contract, tortious conduct or otherwise and whether predicated on common law, statute or otherwise) shall be governed by and construed and interpreted in accordance with the Laws of
the State of Delaware irrespective of the choice of laws principles of the State of Delaware, including all matters of validity, construction, effect, enforceability, performance and remedies. 

(b) Subject to the provisions of Section 6.6, each of the Parties hereto hereby irrevocably and unconditionally
submits, for itself and its property, to the exclusive jurisdiction of the Court of Chancery of the State of Delaware, or, if (and only if) such court finds it lacks subject matter jurisdiction, the Federal court of the United States of America
sitting in Delaware, and appellate courts thereof, or, if (and only if) such court finds it lacks jurisdiction, another state court in the State of Delaware, in any action or proceeding arising out of or relating to this Agreement for recognition or
enforcement of any judgment or award relating hereto, and each of the Parties hereby irrevocably and unconditionally (i) agrees not to commence any such action or proceeding except in the Court of Chancery of the State of Delaware, or, if (and
only if) such court finds it lacks subject matter jurisdiction, the Federal court of the United States of America sitting in Delaware, and appellate courts thereof, or, if (and only if) such court finds it lacks jurisdiction, another state court in
the State of Delaware, (ii) agrees that any claim in respect of any such action or proceeding may be heard and determined in the Court of Chancery of the State of Delaware, or, if (and only if) such court finds it lacks subject matter
jurisdiction, the Federal court of the United States of America sitting in Delaware, and appellate courts thereof, or, if (and only if) such court finds it lacks jurisdiction, another state court in the State of Delaware, (iii) waives, to the
fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any such action or proceeding in such courts and (iv) waives, to the fullest extent permitted by applicable Law, the
defense of an inconvenient forum to the maintenance of such action or proceeding in such courts. 
 Section 6.8 Headings. The
article, section and paragraph headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 

Section 6.9 Interpretation. In this Agreement, (a) words in the singular shall be deemed to include the plural and vice versa
and words of one gender shall be deemed to include the other genders as the context requires; (b) the terms “hereof,” “herein,” and “herewith” and words of similar import shall, unless otherwise stated, be
construed to refer to this Agreement as a whole (including all of the Schedules, Exhibits and Appendices hereto and thereto) and not to any particular provision of this Agreement; (c) Article, Section, Schedule, Exhibit and Appendix references
are to the Articles, Sections, Schedules, Exhibits and Appendices to this Agreement, unless otherwise specified; (d) unless otherwise stated, all references to any agreement shall be deemed to include the exhibits, schedules and annexes to such
agreement; (e) the word “including” 

  
 15 

 
and words of similar import when used in this Agreement shall mean “including, without limitation,” unless otherwise specified; (f) the word “or” shall not be exclusive;
(g) unless otherwise specified in a particular case, the word “days” refers to calendar days; (h) references to “business day” shall mean any day other than a Saturday, a Sunday or a day on which banking institutions
are generally authorized or required by Law to close in New York, New York; (i) references herein to this Agreement or any other agreement contemplated herein shall be deemed to refer to this Agreement or such other agreement as of the date on
which it is executed and as it may be amended, modified or supplemented thereafter, unless otherwise specified; and (j) the word “extent” in the phrase “to the extent” shall mean the degree to which a subject or other thing
extends, and such phrase shall not mean simply “if.” 
 Section 6.10 Amendment. No provisions of this Agreement shall
be deemed waived, amended, supplemented or modified by a Party, unless such waiver, amendment, supplement or modification is in writing and signed by the authorized representative of the Party against whom it is sought to enforce such waiver,
amendment, supplement or modification. 
 Section 6.11 Counterparts; Entire Agreement; Corporate Power. 

(a) This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement, and shall become
effective when one or more counterparts have been signed by each of the Parties and delivered to the other Party. 
 (b) This Agreement, the
Separation Agreement and the other Ancillary Agreements and the Exhibits, Schedules and appendices hereto and thereto contain the entire agreement between the Parties with respect to the subject matter hereof, supersede all previous agreements,
negotiations, discussions, writings, understandings, commitments and conversations with respect to such subject matter, and there are no agreements or understandings between the Parties other than those set forth or referred to herein or therein.
This Agreement, the Separation Agreement and the Ancillary Agreements together govern the arrangements in connection with the Separation and the Distribution and would not have been entered into independently. 

(c) Parent represents on behalf of itself and, to the extent applicable, each of its Subsidiaries, and SpinCo represents on behalf of itself
and, to the extent applicable, each of its Subsidiaries, as follows: 
 (i) each such Person has the requisite corporate or other power and
authority and has taken all corporate or other action necessary in order to execute, deliver and perform this Agreement and to consummate the transactions contemplated hereby; and 

(ii) this Agreement has been duly executed and delivered by it and constitutes a valid and binding agreement of it enforceable in accordance
with the terms thereof. 
 (d) Each Party acknowledges and agrees that delivery of an executed counterpart of a signature page to this
Agreement (whether executed by manual, stamp or mechanical signature) by facsimile or by e-mail in portable document format (.pdf) shall be effective as delivery of such executed counterpart of this Agreement.
Each Party expressly adopts and confirms each such facsimile, stamp or mechanical signature (regardless of whether delivered in person, by mail, by courier, by facsimile or by e-mail in portable document
format (.pdf)) made in its respective name 

  
 16 

 
as if it were a manual signature delivered in person, agrees that it shall not assert that any such signature or delivery is not adequate to bind such Party to the same extent as if it were
signed manually and delivered in person and agrees that, at the reasonable request of the other Party at any time, it shall as promptly as reasonably practicable cause this Agreement to be manually executed (any such execution to be as of the date
of the initial date thereof) and delivered in person, by mail or by courier. 
 Section 6.12 Specific Performance. Subject to
the provisions of Section 6.6, in the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement, the Party or Parties who are, or are to be, thereby aggrieved
shall have the right to specific performance and injunctive or other equitable relief in respect of their respective rights under this Agreement, in addition to any and all other rights and remedies at law or in equity, and all such rights and
remedies shall be cumulative. The Parties agree that the remedies at law for any breach or threatened breach, including monetary damages, are inadequate compensation for any loss and that any defense in any action for specific performance that a
remedy at law would be adequate is waived. Any requirements for the securing or posting of any bond with such remedy are waived by each of the Parties. Unless otherwise agreed in writing, Provider shall continue to provide Services and the Parties
shall honor all other commitments under this Agreement during the course of dispute resolution pursuant to the provisions of Section 6.6 with respect to all matters not subject to such dispute; provided,
however, that this obligation shall only exist during the term of this Agreement. 
 Section 6.13 Mutual Drafting. This
Agreement shall be deemed to be the joint work product of the Parties and any rule of construction that a document shall be interpreted or construed against a drafter of such document shall not be applicable. 

Section 6.14 Further Assurances. Subject to the terms of this Agreement, each Party shall take, or cause to be taken, any and all
reasonable actions, including the execution, acknowledgement, filing and delivery of any and all documents and instruments that any other Party may reasonably request in order to effect the intent and purpose of this Agreement and the transactions
contemplated hereby. 
 Section 6.15 Audit Assistance. Each of the Parties and their respective Subsidiaries are or may be
subject to regulation and audit by a Governmental Authority (including a Taxing Authority), standards organizations, customers or other parties to contracts with such Parties or their respective Subsidiaries under applicable Law, standards or
contract provisions. If a Governmental Authority, standards organization, customer or other party to a contract with a Party or its Subsidiary exercises its right to examine or audit such Party’s or its Subsidiary’s books, records,
documents or accounting practices and procedures pursuant to such applicable Law, standards or contract provisions, and such examination or audit relates to the Services, then the other Party shall provide, at the sole cost and expense of the
requesting Party, all assistance reasonably requested by the Party that is subject to the examination or audit in responding to such examination or audits or requests for information, to the extent that such assistance or Information is within the
reasonable control of the cooperating Party and is related to the Services. 

  
 17 

 ARTICLE VII 

DEFINITIONS 

Section 7.1 Definitions. For purposes of this Agreement (including the Recitals hereof), the following terms have the following
meanings: 
 “Action” has the meaning set forth in the Separation Agreement. 

“Affiliate” has the meaning set forth in the Separation Agreement. 

“Agreement” has the meaning set forth in the Preamble. 

“Ancillary Agreement” has the meaning set forth in the Separation Agreement. 

“Breaching Party” has the meaning set forth in Section 5.3(a). 

“Change of Control” has the meaning set forth in the Separation Agreement. 

“Consents” has the meaning set forth in Section 1.5. 

“Data Protection Agreement” means the Data Protection Agreement, dated as of the Effective Date, in substantially the form
attached as Annex C hereto. 
 “Distribution” has the meaning set forth in the Separation Agreement. 

“Due Date” has the meaning set forth in Section 2.3. 

“Exchange Rate” means, at any time, Parent’s most recent monthly transaction rate, as determined in the ordinary course
of business consistent with past practice. 
 “Governmental Authority” has the meaning set forth in the Separation
Agreement. 
 “Impracticability Event” has the meaning set forth in Section 3.4. 

“Intellectual Property” has the meaning set forth in the Separation Agreement. 

“Law” has the meaning set forth in the Separation Agreement. 

“Level of Service” has the meaning set forth in Section 3.1. 

“Liabilities” has the meaning set forth in the Separation Agreement. 

“New Parent-Provider Service” has the meaning set forth in Section 1.1(b). 

“New Services” has the meaning set forth in Section 1.1(b). 

“New SpinCo-Provider Service” has the meaning set forth in Section 1.1(b). 

“Non-Breaching Party” has the meaning set forth in
Section 5.3(a). 
 “Parent Business” has the meaning set forth in the Separation Agreement. 

  
 18 

 “Parent Group” has the meaning set forth in the Separation Agreement. 

“Parent Indemnified Parties” has the meaning set forth in Section 3.6(b). 

“Parent-Provider Service Fees” has the meaning set forth in Section 2.1. 

“Parent-Provider Service Schedule” has the meaning set forth in Section 1.1(a). 

“Parent-Provider Services” has the meaning set forth in Section 1.1(a). 

“Parent Reimbursable Costs” has the meaning set forth in Section 2.2. 

“Person” has the meaning set forth in the Separation Agreement. 

“Provider” has the meaning set forth in Section 1.1(a). 

“Recipient” has the meaning set forth in Section 1.1(a). 

“Reimbursable Costs” has the meaning set forth in Section 2.2. 

“Representatives” has the meaning set forth in the Separation Agreement. 

“Sales Tax” has the meaning set forth in Section 2.5(a). 

“Separation” has the meaning set forth in the Separation Agreement. 

“Service Baseline Period” has the meaning set forth in Section 3.1. 

“Service Fees” has the meaning set forth in Section 2.1. 

“Service Period” has the meaning set forth in Section 1.1(a). 

“Service Schedule” has the meaning set forth in Section 1.1(a). 

“Services” has the meaning set forth in Section 1.1(a). 

“SpinCo Business” has the meaning set forth in the Separation Agreement. 

“SpinCo Group” has the meaning set forth in the Separation Agreement. 

“SpinCo Indemnified Parties” has the meaning set forth in Section 3.6(a). 

“SpinCo-Provider Service Fees” has the meaning set forth in Section 2.1. 

“SpinCo-Provider Service Schedule” has the meaning set forth in Section 1.1(a). 

“SpinCo-Provider Services” has the meaning set forth in Section 1.1(a). 

“SpinCo Reimbursable Costs” has the meaning set forth in Section 2.2. 

  
 19 

 “Subsidiary” has the meaning set forth in the Separation Agreement. 

“Tax” has the meaning set forth in the Separation Agreement. 

“Taxing Authority” means a national, foreign, municipal, state, federal or other Governmental Authority responsible for the
administration of any Tax. 
 “Termination Charges” has the meaning set forth in Section 5.3(b).

 “VAT” has the meaning set forth in Section 2.5(a). 

[Remainder of page intentionally left blank; 

Signatures appear on following page] 

  
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 IN WITNESS WHEREOF, this Agreement has been executed and delivered by the Parties as of the
Effective Date. 
  

			
	ZIMMER BIOMET HOLDINGS, INC.
		
	By:	 	 /s/ Chad F. Phipps

	Name:	 	Chad F. Phipps
	Title:	 	Senior Vice President, General Counsel and Secretary
	
	ZIMVIE INC.
		
	By:	 	 /s/ Vafa Jamali

	Name:	 	Vafa Jamali
	Title:    	 	President and Chief Executive Officer

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