Document:

HOLX_Q4_2014_EX10.56

Exhibit 10.56

Claus Egstrand

24-February-2014

Re: Letter of Intent

Dear Claus,

I am very pleased to offer you the position as Senior Vice President and General Manager, International at Hologic (the "Company") reporting to me, Steve MacMillan,  President and CEO for Hologic.  Your first day with Hologic will be Monday, April 14, 2014.  We look forward to you joining our team.

Details of your offer as follows:

Remuneration
Your basic annual salary will be £270,000, less appropriate deductions for income tax and national insurance contributions.  

You will be entitled to participate in the Company's discretionary STIP scheme subject to its rules from time to time in force. At target, the annual STIP scheme will equal an amount of 75% of your annual basic salary.   For FY2014, you will be eligible to participate in the program on a prorated basis based on your start date with Hologic.  Any entitlement to STIP which the Company decides you may have is not a contractual entitlement, but is given at the absolute discretion of the Company.  

Car Allowance
The Company shall provide you with a monthly car allowance of £850 per month.

Equity
As of the Effective Date, the Executive shall receive a grant under the Company’s 2008 Amended and Restated Equity Incentive Plan (as it may be amended from time to time, the “Equity Plan”), you will be offered a new hire grant with an approximate value of $450,000 (based on closing price of the Company’s common stock on the Effective Date of hire), which (i) thirty-three and one-third percent (33.3%) of the value shall consist of restricted stock units, subject to four (4) year annual vesting, (ii) thirty-three and one-third percent (33.3%) of the value shall consist of performance stock units, subject to achievement of three (3) year cliff vesting at pre-determined ROIC targets (0-200%); and (iii) thirty-three and one-third percent (33.3%) of the value shall be an option to purchase the Company’s common stock, subject to 5 year annual vesting.  Additional details outlining the terms and conditions as well as the required online acceptance of your grants will be sent to you shortly.
Benefits
Effective 1-April-2014, you will be eligible for the following benefits:
		
	•
	Company paid life insurance: 4 times annual basic salary up to a maximum of £564,000.

		
	•
	Income protection- 66.7% of basic salary for long term disability.

		
	•
	Pension- up to 6% match of basic salary.

		
	•
	Participation in an employee paid, company sponsored group health plan.

Separation and Change in Control
The Company will provide you with fifteen (15) month’s salary protection in the event of an involuntary separation from the Company which is our standard Senior Vice President arrangement.  Additional details regarding this protection will be provided to you in a more detailed contract prior to your start with the Company.  In addition, you will be provided Change in Control protection which would provide 100% vesting of your equity upon termination in connection to such an event, along with one times salary plus the average of prior three annual short-term incentive bonuses.  Further documentation on this protection will also be forthcoming.

Vacation
You shall be entitled to annual vacation of twenty-five (25) working days.

Your contract of employment is terminable by you or the Company on six (6) months' notice. 

Official details regarding your employment with the Company would be established via terms set out in a Terms and Conditions of Employment document to be provided to you prior to your start with Hologic. Where there is any dispute between the terms of this letter and the Terms and Conditions of Employment, the provisions of the Terms and Conditions of Employment shall take precedence. 

This offer is subject to and conditional upon:
		
	•
	You sending a copy of your original passport (inside and outside cover pages) prior to your first day of you commencing work with the Company and then bringing along your original passport for the Company to verify on your commencement date.  If you do not hold a UK passport, a passport from a country within the European Economic Area (EEA), or a passport from a non-EEA country which gives you the right to work in the UK, the Company will need to see one or more additional documents. If this applies, you should contact Holly Lynch, Senior Vice President Human Resourcesl to find out which documents you will need to provide. 

This offer will be withdrawn with immediate effect if any of the above conditions are not satisfied.

Please return a signed copy of this letter to my attention.  This offer is valid until and requires a response no later than 07-March-2014, at which point it will be deemed to be withdrawn.
 
We hope that this letter shall serve as a basis for further discussions to agree on employment terms with the Company.

All at Hologic look forward to you joining us.

Yours sincerely,

/s/ Steve MacMillan
Steve MacMillan, President and CEO, Hologic

For and on behalf of Hologic

I agree with the Terms and Conditions of my Employment as set out or referred to above. 

	
					
	Signed
	/s/ Claus Egstrand
	Dated
	February 27, 2014
	 

	 
	Claus Egstrand
	 
	 
	 

5 March 2014

Dear Claus,

TERMS AND CONDITIONS OF EMPLOYMENT

The following Terms and Conditions of Employment apply to your employment with Hologic ("the Company") as at the date of issue.  They are given to you pursuant to s.1 Employment Rights Act 1996.

		
	1.
	Date of Commencement

		
	1.1 
	Your employment with the Company will commence on 14 April 2014, and will continue until terminated in accordance with paragraph 16 below.

		
	1.2 
	Your period of continuous employment will likewise commence on 14 April 2014. This does not include any period of service with a previous employer.

		
	2.
	Duties

		
	2.1 
	You are employed as a Senior Vice President and General Manager, International, in which capacity you shall devote all your time, attention and skill to your duties of employment. You shall faithfully and diligently perform such duties and exercise such powers consistent with them as may from time to time be assigned to you by the Company. 

		
	2.2 
	You will perform all acts, duties and obligations and comply with such orders as may be designated by the Company and which are reasonably consistent with your job title. The Company may require you to undertake the duties of another position, either in addition to or instead of the above duties, it being understood that you will not be required to perform duties which are not reasonably within your capabilities.

		
	2.3 
	The Company may require you (as part of your duties of employment) to perform duties or services not only for the Company but also for any Associated Company where such duties or services are of a similar status to or consistent with your position with the Company.  The Company may at its sole discretion assign your employment to any Associated Company on the same terms and conditions as set out, or referred to, in this letter.

		
	3.
	Hours of Work

		
	3.1 
	Your basic hours of work are 35 per week. Normal working hours are Monday to Friday 9.00am to 5.00pm including one hour for lunch.  However, the Company reserves the right to change your start and finish times and the days upon which you work.

		
	3.2 
	You may also be required to work additional hours by way of overtime either as and when requested to do so by the Company or when the proper performance of your work so requires.  You will not be entitled to be paid extra remuneration 

for any such additional hours worked in excess of your basic weekly hours.  The Company may, in its absolute discretion, give you time off in lieu for overtime worked.

		
	4.
	Place of Work

		
	4.1 
	Your position will be field based.  However you may be required to work at and from any premises which the Company currently has or may later acquire within the United Kingdom.

		
	4.2 
	You may also be required to travel within the UK and abroad for the performance of your duties.

		
	5.
	Remuneration, Expenses and Deductions

		
	5.1 
	Your basic salary is £270,000 per annum (or such higher sum as the Company may subsequently determine and notify to you) payable by credit transfer monthly, less tax and NI contributions.  Although the Company will review your basic salary annually, you have no entitlement to a salary increase in any year.

		
	5.2 
	You will be paid or reimbursed for any reasonable expenses properly incurred by you while performing your duties on behalf of the Company, subject to your producing receipts in respect of such expenses when requested by the Company, and subject to your compliance with the Company's rules and policies relating to expenses.

		
	5.3 
	The Company shall be entitled at any time during your employment, or in any event on termination, to deduct from your remuneration hereunder any monies due from you to the Company including but not limited to any outstanding loans, advances, training costs, any sums to be deducted under the Company's car policy the cost of repairing any damage or loss to the Company's property caused by you (and of recovering the same), any sums due from you under paragraph 7.2 below and any other monies owed by you to the Company.

		
	5.4 
	You may also, in the absolute discretion of the Company, be eligible to participate in the Company's discretionary incentive schemes (the "Schemes"), subject to their rules from time to time in force.  Details of the Schemes will be supplied to you separately if applicable.  You have no contractual entitlement to participate in, or receive any award under, any Scheme; the Company retains absolute discretion not to make an award and as to the size of any awards made.  Awards are subject to a number of factors including employee performance and Company performance.  The Company reserves the right to end or amend any aspect of any or all of the Schemes at any time at its sole discretion without replacement or compensation.  For the avoidance of doubt all awards are subject to you not serving notice on or before the date the award would have been made. Receipt of an award in one year is not an indication of what you may receive in any other year, nor a guarantee that you will receive any award in the future.

		
	6.
	Motor Car

		
	6.1 
	You will be required to use a motor car for the purposes of your employment. The Company’s car policy from time to time in force (a copy of which is supplied) forms part of your contract of employment. Under the current policy you are 

currently eligible to an “employee car allowance” of £850.00 per month less appropriate deductions for income tax and National Insurance contributions. The car policy may be amended from time to time at the sole discretion of the Company.

		
	6.2 
	You warrant that you hold a valid driving licence to drive motor cars in the UK and agree that if you cease to hold a driving licence the Company may end your employment immediately without notice or payment in lieu of notice.

		
	6.3 
	ou warrant that you are responsible for insuring the motor car for business use and that you will provide the Company with a copy of the insurance certification annually to confirm this cover and agree that if you cease to hold such cover the Company may end your employment immediately without notice or payment in lieu of notice.

		
	6.4 
	You shall immediately inform the Company:-

6.4.1     if you are prosecuted or are to be prosecuted for any road traffic offence: or
6.4.2     if your driving licence is endorsed: or
6.4.3     if you are disqualified from holding a driving licence: or
6.4.4     if your driving licence is suspended due to medical reasons. 

		
	7.
	Holidays

		
	7.1 
	In addition to the Public holidays normally applicable in England, you are also entitled to 25 working days’ paid holiday in each complete calendar year.  The Company's holiday year is from 1 January to 31 December.

		
	7.2 
	On the commencement and termination of your employment, you will be treated as having accrued holiday on a pro rata basis of 2 days’ holiday for each complete month of service in that holiday year calculated by reference to your first or last date at work (as appropriate).  If, on the termination of your employment, you have exceeded your accrued holiday entitlement, this excess will be deducted from any sums due to you.  If you have holiday entitlement still owing the Company may, at its sole discretion, require you to take all or part of your outstanding holiday during your notice period or to pay you a sum in lieu of accrued holiday.  A day’s holiday pay for the purposes of this paragraph 7.2 is 1/30th of your net monthly salary.

		
	7.3 
	You must obtain the prior approval of your line manager before booking holiday dates.  Not more than two weeks may be taken at any one time, save at the Company's discretion. The Company may, in its absolute discretion, reject any holiday request where it unreasonable conflicts with the needs and requirements on the business, for example, quarter end, month end etc.

		
	7.4 
	Holiday entitlement must be taken by the end of that holiday year.  Holiday not taken in that holiday year will be forfeited and will not be carried over unless the prior approval in conjunction with your line manager and the HR department is obtained.  In any event, no more than 5 days’ holiday may be carried over to the following holiday year.

		
	8.
	Sickness

		
	8.1 
	If you are absent from work due to sickness or other medical incapacity, the Company will continue to pay your normal salary (" Company sick pay") for the periods set out below, subject to your compliance with any Company policy and rules on sickness absence in place from time to time. Your entitlement to Company sick pay increases with length of service and is subject to paragraphs 8.3 to 8.7 below.  Company sick pay entitlement in any period of 12 months is as follows:

	
		
	Length of Service
	Company Sick Pay 
Entitlement (working days)

	Under 6 months
	5 days

	Less than 1 year
	10 days

	More than 1 but less than 5 years
	20 days

	5 years and above
	30 days

Company sick pay is inclusive of any Statutory Sick Pay ("SSP") to which you may be entitled, and will be based on your basic salary less any State benefits claimable by you on account of your sickness or injury, less normal deductions for tax and NI contributions etc. .  For these purposes your length of continuous service will be determined as at the first day of the relevant period of absence.

		
	8.2 
	After your Company sick pay is exhausted, you will continue to receive SSP when you qualify for it under the prevailing legislation.  Where Company sick pay and SSP are payable for the same day of sickness, you will receive the higher of the two sums.  Further details of the SSP Scheme are available from the HR Department. 

		
	8.3 
	In all cases of absence you must notify the Company (line manager and HR Department) as soon as possible on the first morning of your absence, giving the reason for the absence and its anticipated duration.  If you are sick or otherwise medically incapacitated for more than seven consecutive days, then a medical certificate (signed by a doctor) must be produced to the Company.  Thereafter medical certificates should be submitted regularly to cover the full period of absence.  On each occasion a medical certificate expires and you do not anticipate you will be returning to work, you must notify the Company on the first morning following the expiry of the medical certificate.

		
	8.4 
	You are also required to complete the Company's Absence Notification Form for all absences (regardless of duration) and submit it to the HR department.

		
	8.5 
	The Company reserves the right to require you to undergo a medical examination by a doctor or consultant nominated by it, in which event the Company will bear the cost thereof. You agree that an examination report may be provided to the Company.

		
	8.6 
	The Company reserves the right to withdraw benefit entitlements (Clauses 9.1 - 9.2) on or after the expiry of the relevant period of Company sick pay entitlement referred to in paragraph 8.1 above (or withdrawal of Company sick pay, if, in 

its absolute discretion, the Company chooses to continue Company sick pay beyond the periods set out in paragraph 8.1 above).

		
	8.7 
	Your entitlement to Company sick pay and SSP are subject to the Company’s right to terminate your employment in accordance with paragraph 16 below and the Company shall not be liable to provide, or compensate for the loss of any benefit(s).

		
	9.
	Pension and other benefits

		
	9.1 
	Subject always to the rules of the scheme from time to time in force and from HMRC limits from time to time in force, the Company will make a contribution of an amount equal to your yearly personal pension contributions (to a maximum total contribution by the Company of 6% of your gross annual salary) to the company’s Group Stakeholder Plan. (“Plan”). The Company reserves the right to change the provider of the Plan.

		
	9.2 
	The Company will provide you with individual private medical insurance coverage as part of a company-sponsored group health plan. Spouse and/or Family coverage can be arranged at your expense. Such insurance programmes are subject to taxes in line with HMRC guidelines.

		
	9.3 
	Any actual or prospective loss of entitlement to pension contributions and private medical insurance benefits shall not limit or prevent the Company from exercising its right to terminate your employment in accordance with paragraph 16 below, or otherwise, and the Company shall not be liable to provide, or compensate for the loss of, such benefit(s). The Company shall not be liable to provide, or compensate you for the failure of any benefit provider pursuant to paragraphs 9.1 - 9.2 above to provide you with any benefit of to take steps (other than an initial application to the benefit provider) to procure such benefits.

		
	9.4 
	The Company may from time to time and without compensation amend, replace or withdraw any benefit scheme, or your right to participate in any benefit scheme, in which you participate, including but not limited to the schemes set out in paragraphs 9.1 and 9.2 above and notwithstanding any adverse impact that such amendment, replacement or withdrawal may have on any current or prospective benefits claimed or received by you under such schemes.

		
	9.5 
	If any third party benefit provider refuses for any reason to provide benefits to or in respect of you under any benefit scheme the Company will not be liable to provide such benefits or compensate you for the loss of such benefits.  The Company will not be under any duty to take steps to challenge any such refusal by a scheme provider.

		
	10.
	Confidential Information

		
	10.1 
	You shall neither during your employment (except in the proper performance of your duties) nor at any time (without limit) after its termination directly or indirectly

(a) use for your own purposes or those of any other person, company, business entity or other organisation whatsoever; or

(b) disclose to any person, company, business entity or other organisation whatsoever;

any trade secrets or confidential information relating or belonging to the Company or any of its Associated Companies including but not limited to any such information relating to customers, customer lists or requirements, price lists or pricing structures, marketing and sales information, business plans or dealings, employees or officers, financial information and plans, designs, formulae, product lines, prototypes, services, research activities, source codes and computer systems, software any document marked "Confidential" (or with a similar expression), or any information which you have been told is confidential or which you might reasonably expect the Company would regard as confidential, or any information which has been given to the Company or any Associated Company in confidence by customers, suppliers and other persons.

		
	10.2 
	You shall not at any time during the continuance of your employment with the Company make any notes or memoranda relating to any matter within the scope of the Company's or any Associated Company's business, dealings or affairs otherwise than for the benefit of the Company or any Associated Company.

		
	10.3 
	The obligations contained in paragraph 10.1 shall not apply to any disclosures required by law, and shall cease to apply to any information or knowledge which may subsequently come into the public domain after the termination of your employment, other than by way of unauthorised disclosure. 

		
	11.
	Exclusivity of Service

		
	11.1 
	You are required to devote your full time, attention and abilities to your job duties during working hours, and to act in the best interests of the Company and its Associated Companies at all times.

		
	11.2 
	ou must not, without the written consent of the Company, in any way directly or indirectly (i) be engaged or employed in, or (ii) concerned with (in any capacity whatsoever) or (iii) provide services to, any other business or organisation where this is, or is likely to be, in conflict with the interests of the Company or its Associated Companies or where this may adversely affect the efficient discharge of your duties. However this does not preclude your holding up to 3% of any class of securities in any company which is quoted on a recognised Stock Exchange.

		
	12.
	Receipt of Payments and Benefits from Third Parties

Subject to any written regulations issued by the Company which may be applicable, neither you nor your Immediate Relatives, nor any company or business entity in which you or they have an interest, are entitled to receive or obtain directly or indirectly any payment, discount, rebate, commission or other benefit from third parties in respect of any business transacted (whether or not by you) by or on behalf of the Company or any Associated Company and if you, your Immediate Relatives or any company or business entity in which you or they have an interest, directly or indirectly obtain any such payment, discount, rebate, commission or other benefit you will forthwith account to the Company or the relevant Associated Company for the amount received or the value of the benefit so obtained.

		
	13.
	Copyright, Inventions and Patents

		
	13.1 
	You shall provide the Company with full written details of all:

(a) inventions, ideas and improvements, whether or not patentable, and whether or not recorded in any medium ("Inventions"); and
(b) patents, rights to Inventions, copyright and related rights, trade marks, trade names and domain names, rights in get-up, rights in goodwill or to sue for passing off, rights in designs, rights in computer software, database rights, rights in confidential information (including know how and trade secrets) and any other intellectual property rights, in each case where registered or unregistered and including all application (or rights to apply) for, and renewals or extension of rights and all similar or equivalent rights or forms of protection which may now or in the future subsist anywhere in the world, created or acquired by you, wholly or partially, in the course of your employment (whether or not during working hours or using Company premises or resources and whether or not recorded in any medium) ("Employment IPRs"), promptly upon creation.
		
	13.2 
	To the fullest extent permitted by law:

(a) all Employment IPRs shall automatically belong to the Company; and
(b) to the extent that the Employment IPRs do not vest in the Company automatically, you shall assign such Employment IPRs on request of the Company; and
(c) to the extent that the Employment IPRs do not vest in the Company automatically and/or pending any assignment of such Employment IPRs under paragraph (b) above, you shall hold them on trust for the Company,
and you agree to execute promptly all documents and do all acts, in the opinion of the Company, that may be necessary to give effect to this paragraph 13.2.
		
	13.3 
	You hereby irrevocably and unconditionally waive all rights that arise under Chapter IV of Part I of the Copyright, Designs and Patents Act 1988 (whether before, on or after the date hereof) in connection with your authorship of any works mentioned in paragraph 13.1, and to any similar rights wherever in the world enforceable, including without limitation the right to be identified as the author of any such works and the right not to have any such works subjected to derogatory treatment.

		
	13.4 
	Both you and the Company acknowledge the provisions of Sections 39 to 43 of the Patents Act 1977 ("the Act") relating to the ownership of employees' inventions and the compensation of employees for certain inventions respectively.

		
	13.5 
	At the request and cost of the Company (whether during your employment or after its termination) you agree to execute and do all such deeds, documents, acts and things as the Company may from time to time reasonably require in order to vest any of the Employment IPRs in the Company or to record such assignments with any local registry or other authority.

		
	13.6 
	The Company will decide, in its sole discretion, when and whether to apply for patent, registered design or other protection in respect of the Employment IPRs and reserves the right to work any of the Employment IPRs as a secret process in which event you agrees to observe the obligations relating to confidential information which are contained in paragraph 10 of this Agreement.

		
	14.
	Disciplinary and Grievance Procedures

		
	14.1 
	The Company's disciplinary procedure may be obtained from the HR department. These procedures are non-contractual and do not form part of your terms and conditions of employment.

		
	14.2 
	If you are unhappy about any aspect of your employment with the Company you should raise the matter at first instance with your line manager, unless the issue concerns your Manager, in which case you should raise it with another Manager. If you are still unhappy you should take up the grievance with his/her manager whose decision shall be final within the Company.

		
	15.
	Collective Agreements 

There are no collective agreements applicable to your employment.  

		
	16.
	Termination of Employment

		
	16.1
	The first 6 months of your employment will be on a probationary basis.  This period is known as the "Probationary Period".  During the Probationary Period your employment will be terminable by yourself or the Company on two weeks' written notice, subject to paragraphs 16.3 below.

		
	16.2 
	Subject to paragraphs 16.3 below, after completion of your Probationary Period, your contract of employment is terminable by you or the Company on 6 months’ notice, subject to paragraphs 16.3 below. 

		
	16.3 
	The Company reserves the right to terminate your contract without notice, or pay in lieu of notice, if it has reasonable grounds to believe you are guilty of gross misconduct, gross negligence or in material breach of one of the terms of your employment. Examples of gross misconduct can be obtained from the HR Department. 

		
	16.4 
	You agree that the Company may at its absolute discretion make a payment or payments (which may, at the Company's absolute discretion, be paid in instalments) representing salary in lieu of any notice of termination of employment which you are or the Company is required to give, subject to any reduction under paragraph 16.5 below.  For the avoidance of doubt, such payment or payments shall be less deductions for tax and NI contributions and shall not include the value of any benefits, bonus/incentive, commission, or holiday entitlement which would have accrued to you had you been employed until the expiry of your notice entitlement under paragraphs 16.1 or 16.2 above. Further, you shall have no entitlement to such payment, or payments unless and until the Company notifies you in writing of its decision to make such payment(s) to you.

		
	16.5 
	Where the Company decides to exercise its power under paragraph 16.4 to make any such payment(s) to you, then you undertake to take all reasonable and necessary steps to find alternative employment to commence within a period equivalent to the notice period (or where notice has been served, the un-expired period of notice) referred to in paragraph 16.2 commencing on the Termination Date.  The Company may, in its absolute discretion, reduce the amount or amounts of any such payment(s) by such an amount as it shall determine to reflect your actual mitigation, or prospective, or potential to mitigate.  For the avoidance of doubt, such reduction may result in the cessation of instalment payments, or you being entitled to no payment.

		
	16.6 
	The Company reserves the right to require you not to attend at work and/or not to undertake all or any of your duties of employment during all or any part of any period of notice (whether given by you or the Company), provided always that the Company shall continue to pay your salary and contractual benefits whilst you remain employed by the Company. 

		
	16.7 
	On termination of your employment, you must immediately return to the Company in accordance with its instructions all equipment, correspondence, records, specifications, software, disks, models, notes, reports and other documents and any copies thereof and any other property belonging to the Company or its Associated Companies (including but not limited to the Company car, keys, credit cards, equipment and passes) which are in your possession or under your control.  You must, if so required by the Company, confirm in writing that you have complied with your obligations under this paragraph 16.7.

The Company shall have the right to suspend you on full pay and benefits pending any investigation into potential dishonesty, gross misconduct or other circumstances which (if proved) would entitle the Company to dismiss you summarily. 

		
	17.
	Restrictions on Termination of Employment

		
	17.1 
	You hereby agree that you shall not (without the prior consent in writing of the Company) for the Relevant Period immediately following the Termination Date within the UK and whether on your own behalf or in conjunction with or on behalf of any other person, firm, company or other organisation, (and whether as an employee, director, principal, agent, consultant or in any other capacity whatsoever), in competition with the Company directly or indirectly (a) be employed or engaged in, or (b) perform services in respect of, or (c) be otherwise concerned with:-

		
	17.1.1
	the research into, development, manufacture, supply or marketing of any product which is of the same or similar type to any product researched, or developed, or manufactured, or supplied, or marketed by the Company during the 12 months immediately preceding the Termination Date;

		
	17.1.2
	the development or provision of any services (including but not limited to technical and product support, or consultancy or customer services) which are of the same or similar type to any services provided by the Company during the 12 months preceding the Termination Date.

PROVIDED ALWAYS that the provisions of this paragraph 17.1 shall apply only in respect of products or services with which you were either personally concerned or for which you were responsible whilst employed by the Company during the 12 months immediately preceding the Termination Date.

		
	17.2 
	You hereby agree that you will not for the Relevant Period immediately following the Termination Date, whether on your own behalf or in conjunction with or on behalf of any other person, company, business entity or other organisation, (and whether as an employee, director, principal, agent, consultant or in any other capacity whatsoever), directly or indirectly (a) solicit, or (b) assist in soliciting, or (c) accept, or (d) facilitate the acceptance of, or (e) deal with, in competition with the Company the custom or business of any Customer or Prospective Customer :-

		
	17.2.1 
	with whom you have had personal contact or dealings on behalf of the Company during the 12 months immediately preceding the Termination Date;

		
	17.2.2 
	for whom you were, in a client management capacity on behalf of the Company, directly responsible during the 12 months immediately preceding the Termination Date.

		
	17.3 
	You hereby agree that you will not for the Relevant Period immediately following the Termination Date, whether on your own behalf or in conjunction with or on behalf of any other person, company, business entity or other organisation whatsoever, directly or indirectly :-

		
	17.3.1
	(a) induce, or (b) solicit, or  (c) entice or (d) procure, any person who is a Company Employee to leave the Company's employment; or

		
	17.3.2
	be personally involved to a material extent in (a) accepting into employment or (b) otherwise engaging or using the services of any person who is a Company Employee.

		
	17.4 
	You hereby agree that you will not, whether on your own behalf or in conjunction with or on behalf of any other person, company, business entity or other organisation (and whether as an employee, director, agent, principal, consultant or in any other capacity whatsoever), directly or indirectly, (i) for the Relevant Period, and (ii) in relation to any contract or arrangement which the Company has with any Supplier for the exclusive supply of goods and services to the Company and/or to any Associated Company, for the duration of such contract or arrangement:

		
	17.4.1
	interfere with the supply of goods or services to the Company from any Supplier;

		
	17.4.2 
	induce any Supplier of goods or services to the Company to cease or decline to supply such goods or services in the future.

		
	17.5 
	Paragraphs 17.1 to 17.4 above and 17.7 below will also apply as though references to each Associated Company were substituted for references to the Company.  These paragraphs will, with respect to each Associated Company, constitute a separate and distinct covenant and the invalidity or unenforceability of any such covenant shall not affect the validity or enforceability of the covenants in favour of the Company or any other Associated Company.  The provisions of this 

paragraph 17 shall only apply in respect of those Associated Companies (i) with whom you have given your services, or (ii) for whom you have been responsible, or (iii) with whom you have otherwise been concerned, in the 12 months immediately preceding the Termination Date. 

		
	17.6 
	In relation to each Associated Company referred to in paragraph 17.5 above, the Company contracts as trustee and agent for the benefit of each such Associated Company.  You agree that, if required to do so by the Company, you will enter into covenants in the same terms as those set out in paragraphs 17.1 to 17.4 and 17.7 hereof directly with all or any of such Associated Companies, mutatis mutandis.  If you fail within 7 days of receiving such a request from the Company, to sign the necessary documents to give effect to the foregoing, the Company shall be entitled, and is hereby irrevocably and unconditionally authorised by you, to execute all such documents as are required to give effect to the foregoing, on your behalf.

		
	17.7 
	The following words and expressions referred to above shall have the meanings set out below:

"Company Employee" means any person who was employed by (i) the Company or (ii) any Associated Company, for at least 3 months prior to and on the Termination Date and

(a) with whom you have had material contact or dealings in performing your duties of employment; and

(b) who had material contact with customers or suppliers of the Company in performing his or her duties of employment with the Company or any Associated Company (as applicable); or
(c) who was a member of the management team of the Company or any Associated Company as applicable.

"Customer" shall mean any person, firm, company or other organisation whatsoever to whom the Company has supplied goods or services.

"Prospective Customer" shall mean any person, firm, company or other organisation whatsoever to whom the Company has had any negotiations or material discussions regarding the possible supply of goods or services by the Company.    

"Relevant Period" shall mean 6 months. 

"Supplier" means any person, company, business entity or other organisation whatsoever who (i) has supplied to goods or services to the Company during any part of the 12 months immediately preceding the Termination Date; or (ii) has agreed prior to the Termination Date to supply goods or services to the Company to commence at any time in the 12 months following the Termination Date; or (iii) as at the Termination Date, supplies  goods or services to the Company under an exclusive contract or arrangement between that Supplier and the Company.

"Termination Date" means the date when your employment terminates.

		
	18.
	Right of Search

The Company reserves the right to ask to search you, your vehicle and belongings, while at work and when arriving at or leaving the Company’s or customers’ and suppliers’ premises.

		
	19.
	Warranty and Undertaking

		
	19.1 
	You represent and warrant that you are not subject to any agreement, arrangement, contract, understanding, Court Order or otherwise, which in any way directly or indirectly restricts or prohibits you from fully performing the duties of your employment, or any of them, in accordance with the terms and conditions of this letter.

		
	19.2 
	You agree that in the event of receiving from any person, company, business entity or other organisation an offer of employment either during the continuance of the terms and conditions of this letter or during the continuance in force of any of the restrictions set out in paragraph 17 above, you will forthwith provide to such person, company, business entity or other organisation a full and accurate copy of this letter.

		
	20.
	Definitions

In this Agreement, the following expressions shall have the meaning given to them in this paragraph 20: 

		
	20.1 
	"Associated Company" means any firm, company, corporation or other organisation:-

20.1.1 which is directly or indirectly controlled by the Company; or

20.1.2 which directly or indirectly controls the Company; or

20.1.3 which is directly or indirectly controlled by a third party who also directly or indirectly controls the Company; or

20.1.4 of which the Company or any other Associated Company owns or has a beneficial interest in 20% or more of the issued share capital or 20% or more of its capital assets; or

20.1.5 which is the successor in title or assign of the firms, companies, corporations or other organisations referred to above.

		
	20.2 
	"Company" shall include the successors in title and assigns of the Company.

		
	20.3
	 "Control" shall have the meaning set out in S.416 Taxes Act 1988 (as amended).

		
	20.4 
	"Immediate Relatives" shall include husband, wife, common law spouse, children, brothers, sisters, cousins, aunts, uncles, parents, grandparents, and the aforesaid relatives by marriage.

		
	21.
	Miscellaneous

		
	21.1 
	This letter cancels and is in substitution for all previous letters of engagement, agreements and arrangements whether oral or in writing relating to the subject matter hereof between the Company and yourself, all of which shall be deemed to have been terminated by mutual consent.  This letter made between you and the Company constitutes the entire agreement between you and the Company of the terms upon which you are employed.

		
	21.2 
	The various provisions and sub-provisions of this letter are severable and if any provision or sub-provision or identifiable part thereof is held to be invalid or unenforceable by any court of competent jurisdiction then such invalidity or unenforceability will not affect the validity or enforceability of the remaining provisions or sub-provisions or identifiable parts thereof in this letter.

		
	21.3 
	This letter is governed by and construed in accordance with the laws of England, and you and the Company submit to the exclusive jurisdiction of the English courts.

		
	21.4 
	Paragraph headings are inserted for convenience only and will not affect the construction of this letter.

Please will you sign both copies of this letter and return the top copy to me.

Yours sincerely,
	
					
	/s/ Carmel O'Kane
	 
	 
	 

	Carmel O'Kane
	 
	 
	 

	European HR Director
	 
	 
	 

	For and on behalf of HOLOGIC
	 
	 
	 

I agree with the Terms and Conditions of my Employment as set out or referred to above.

	
					
	Signed
	/s/ Claus Egstrand
	 
	Dated
	March 10, 2014

	 
	Claus EgstrandHOLX_Q4_2014_EX10.57

Exhibit 10.57

SEVERANCE AND 
CHANGE OF CONTROL AGREEMENT

CHANGE OF CONTROL AGREEMENT by and between HOLOGIC, INC., a Delaware corporation (the "Company"), and Mr. Claus Egstrand with his address on record an which is in the United Kingdom   (the "Executive"), dated as of September 18, 2014.
    
WHEREAS, the Board of Directors of the Company (the "Board"), has determined that it is in the best interests of the Company and its shareholders to assure that the Company will have the continued dedication of the Executive, notwithstanding the possibility, threat, or occurrence of a Change of Control (as defined below) of the Company.  The Board believes it is imperative to diminish the inevitable distraction of the Executive by virtue of the personal uncertainties and risks created by a pending or threatened Change of Control and to encourage the Executive's full attention and dedication to the Company currently and in the event of any threatened or pending Change of Control, and to provide the Executive with compensation and benefits arrangements upon a Change of Control which ensure that the compensation and benefits expectations of the Executive will be satisfied and which are competitive with those of other corporations;

WHEREAS, the Executive serves as Group President International and; 

WHEREAS, the Company and Executive now desire to enter into this Severance and Change of Control Agreement, which is consistent with the change of control and severance protection provided to the Company’s most senior officers (the “Agreement”). 

NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, the parties hereto, each intending to be legally bound, do hereby agree as follows:

1.    Certain Definitions.

(a)    The "Effective Date" shall be the first date during the "Change of Control Period" (as defined in Section 1(b)) on which a Change of Control occurs.  Anything in this Agreement to the contrary notwithstanding, if the Executive's employment with the Company is terminated or the Executive ceases to be an officer of the Company prior to the date on which a Change of Control occurs, and it is reasonably demonstrated that such termination of employment (1) was at the request of a third party who has taken steps reasonably calculated to effect the Change of Control or (2) otherwise arose in connection with or in anticipation of the Change of Control, then for all purposes of this Agreement the "Effective Date" shall mean the date immediately prior to the date of such termination of employment.  If prior to the Effective Date, the Executive’s employment with the Company terminates, then the Executive shall have no further rights under this Agreement, except with respect to benefits under Section 6(e), if applicable, or unless such termination of Employment was in anticipation of the Change of Control in which case the termination shall be deemed to have occurred after the consummation of the Change of Control.   

(b)    The "Change of Control Period" is the period commencing on the date hereof and ending on December 31,2016; provided, that commencing on December 31, 2015 and each December 31 thereafter (each such date to be referred to as the “Renewal Date”), the term of this Agreement shall automatically be extended, without any further action by the Company or the Executive, so as to terminate three years from such Renewal Date; provided, however that if the Company shall give notice in writing to the Executive at least thirty (30) days prior to a Renewal Date (the “Pending Renewal Date”), stating that the Change of Control Period shall not be extended, then the Change of Control Period shall expire two years from the Pending Renewal Date.

2.    Change of Control.  For the purpose of this Agreement, a "Change of Control" shall mean:

(a)    The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934 under United States  Law, as amended (the “Exchange Act”)) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 30% or more of the Voting Stock of the Company; provided, however, that any acquisition by the Company or its subsidiaries, or any employee benefit plan (or related trust) of the Company or its subsidiaries of 30% or more of Voting Stock shall not constitute a Change in Control; and provided, further, that any acquisition by a corporation with respect to which, following such acquisition, more than 50% of the Voting Stock of such corporation, is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities who were the beneficial 

owners of the Voting Stock immediately prior to such acquisition in substantially the same proportion as their ownership, immediately prior to such acquisition, of the Voting Stock, shall not constitute a Change in Control; or

(b)    Any transaction which results in the Continuing Directors (as defined in the Certificate of Incorporation of the Company) constituting less than a majority of the Board of Directors of the Company (the “Board”); or

(c)    The consummation of (i) a Merger  with respect to which all or substantially all of the individuals and entities who were the beneficial owners of the Voting Stock immediately prior to such Merger do not, following such Merger, beneficially own, directly or indirectly, more than 50% of the Voting Stock of the corporation resulting from the Merger (the “Resulting Corporation”) as a result of the individuals’ and entities’ shareholdings in the Company immediately prior to the consummation of the Merger, (ii) a complete liquidation or dissolution of the Company or (iii) the sale or other disposition of all or substantially all (as as defined under United States Delaware General Corporation Law) of the assets of the Company excluding a sale or other disposition of assets to a subsidiary of the Company.  For purposes of this Agreement “Merger” means a reorganization, merger or consolidation involving the Company, including without limitation as a parent of a direct or indirect subsidiary of the Company effecting such transaction

Anything in this Agreement to the contrary notwithstanding, if an event that would, but for this paragraph, constitute a Change of Control results from or arises out of a purchase or other acquisition of the Company, directly or indirectly, by a corporation or other entity in which the Executive has a greater than ten percent (10%) direct or indirect equity interest, such event shall not constitute a Change of Control.

3.    Employment Period.  Subject to the terms and conditions hereof, the Company hereby agrees to continue the Executive in its employ, and the Executive hereby agrees to remain in the employ of the Company, for the period commencing on the Effective Date and ending on the last day of the thirty-sixth month following the month in which the Effective Date occurs (the "Employment Period").

4.    Terms of Employment.

(a)    Position and Duties.

(i)    During the Employment Period, (A) the Executive's position (including status, offices, titles and reporting requirements), authority, duties and responsibilities shall be at least commensurate in all material respects with the most significant of those held, exercised and assigned at any time during the 90-day period immediately preceding the Effective Date and (B) the Executive's services shall be performed at the location where the Executive was employed immediately preceding the Effective Date or any office or location less than 35 miles from such location.

(ii)    During the Employment Period, and excluding any periods of vacation and sick leave to which the Executive is entitled, the Executive agrees to devote his full business time to the business and affairs of the Company and, to the extent necessary to discharge the responsibilities assigned to the Executive hereunder, to use the Executive's reasonable best efforts to perform faithfully and efficiently such responsibilities. During the Employment Period it shall not be a violation of this Agreement for the Executive to (A) serve on corporate, civic or charitable boards or committees, (B) deliver lectures, fulfill speaking engagements or teach at educational institutions and (C) manage personal investments, so long as such activities do not significantly interfere with the performance of the Executive's responsibilities as an employee of the Company in accordance with this Agreement.  It is expressly understood and agreed that to the extent that any such activities have been conducted by the Executive prior to the Effective Date, the continued conduct of such activities (or the conduct of activities similar in nature and scope thereto) subsequent to the Effective Date.

(b)    Compensation.

(i)    Base Salary.  During the Employment Period, the Executive shall receive an annual base salary ("Annual Base Salary"), which shall be paid at a monthly rate, at least equal to twelve times the highest monthly base salary paid or payable to the Executive by the Company and its affiliated companies in respect of the twelve-month period immediately preceding the month in which the Effective Date occurs.  During the Employment Period, the Annual Base Salary shall be reviewed at least annually and shall be increased at any time and from time to time as shall be substantially consistent with increases in base salary awarded in the ordinary course of business to other peer executives of the Company and its affiliated companies.  Any increase in Annual Base Salary shall not serve to limit or reduce any other obligation to the Executive under this Agreement.  Annual Base Salary shall not be reduced after any such increase and the term Annual Base Salary as utilized in this Agreement shall refer to Annual Base Salary as so increased.  As used in this Agreement, 

the term "affiliated companies" includes any company controlled by, controlling or under common control with the Company.

(ii)    Annual Bonus.  In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year during the Employment Period, an annual cash  bonus (the "Annual Bonus"; which shall include, without limitation, any other annual cash bonus plan or program provided to Executive such as, Short Term Incentive Plan or any other similar plan) in cash at least equal to the greater of (a) the average (annualized for any fiscal year consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) bonus (the "Average Annual Bonus") paid or that has been earned and accrued, but unpaid to the Executive by the Company and its affiliated companies in respect of the three fiscal years immediately preceding the fiscal year in which the Effective Date occurs, (b) the Annual Bonus paid for the fiscal year immediately preceding the Effective Date, or (c) the maximum target bonus if the Company achieves target as determined in accordance with the terms of the Company’s bonus plans for senior executives for the fiscal year immediately preceding the Effective Date (the “Target Bonus”; the greater of clauses (a), (b) or (c) to be referred to as the “Highest Annual Bonus”) and shall not be reduced for the application of the Compensation Committee’s discretion to reduce such bonus or bonus funding, or increased to reflect additional amounts that may be paid or payable if the Company exceeds target.  Each such Annual Bonus shall be paid no later than the 15th day of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus pursuant to any nonqualified plan of the Company.  Notwithstanding anything herein to the contrary, any portion of  Annual Base Salary or Annual Bonus electively deferred by the Executive pursuant to a qualified or a non-qualified plan including, but not limited to, the Hologic, Inc. Deferred Compensation Plan or any successor thereto (“DCP”) shall be included in determining the Annual Base Salary, Annual Bonus and the Average Annual Bonus.  If the fiscal year of any successor to this Agreement, as described by Section 11(c) herein, is different than the Company’s fiscal year at the time of the Change of Control, then the Executive shall be paid (i) the Annual Bonus that would have been paid upon the end of Company’s fiscal year ending after the Change of Control, and (ii) a pro-rata  Annual Bonus for any months of service performed following the end of  the Company’s fiscal year, but prior to the first day of the successor’s  fiscal year immediately following the Change of Control.  The Annual Bonuses thereafter shall be based on the successor’s first full fiscal year beginning after the Change of Control and successive fiscal years thereafter.  “Pro Rata Bonus" shall mean an amount equal to the Bonus Amount (average of the Annual Bonuses paid or that has been earned and accrued, but unpaid during the three full fiscal years ended prior to the Date of Termination) multiplied by a fraction the numerator of which is the number of months worked in the fiscal year through the Date of Termination and the denominator of which is 12.  Any partial months shall be rounded to the nearest whole number using normal mathematical convention.

 (iii)    Expenses.  During the Employment Period, the Executive shall be entitled to receive prompt reimbursement for all reasonable expenses incurred by the Executive upon submission of appropriate accountings in accordance with the most favorable policies, practices and procedures of the Company and its affiliated companies in effect at any time during the one-year period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect at any time thereafter with respect to other peer executives of the Company and its affiliated companies.

(iv)    Fringe Benefits.  During the Employment Period, the Executive shall be entitled to fringe benefits in accordance with the most favorable plans, practices, programs and policies of the Company and its affiliated companies in effect at any time during the one-year period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect at any time thereafter with respect to other peer executives of the Company and its affiliated companies.

(vii)    Office and Support Staff.  During the Employment Period, the Executive shall be entitled to an office or offices of a size and with furnishings and other appointments, and to exclusive personal secretarial and other assistance, at least equal to the most favorable of the foregoing provided to the Executive by the Company and its affiliated companies at any time during the one-year period immediately preceding the Effective Date or, if more favorable to the Executive, as provided at any time thereafter with respect to other peer executives of the Company and its affiliated companies.

(viii)    Vacation.  During the Employment Period, the Executive shall be entitled to paid vacation in accordance with the most favorable plans, policies, programs and practices of the Company and its affiliated companies as in effect at any time during the one-year period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect at any time thereafter with respect to other peer incentives of the Company and its affiliated companies.

5.    Termination of Employment.

(a)    Death or Disability.  The Executive's employment shall terminate automatically upon the Executive's death during the Employment Period.  If the Company determines in good faith that the Disability of the Executive has occurred during 

the Employment Period (pursuant to the definition of "Disability" set forth below), it may give to the Executive written notice in accordance with Section 13(b) of this Agreement of its intention to terminate the Executive's employment.  In such event, the Executive's employment with the Company shall terminate effective on the 30th day after receipt of such notice by the Executive (the "Disability Effective Date"), provided that, within the 30 days after such receipt, the Executive shall not have returned to full-time performance of the Executive's duties.  For purposes of this Agreement, "Disability" means the absence of the Executive from the Executive's duties with the Company on a full-time basis for 180 consecutive business days as a result of incapacity due to mental or physical illness which is determined to be total and permanent by a physician selected by the Company or its insurers and acceptable to the Executive or the Executive's legal representative (such agreement as to acceptability not to be withheld unreasonably).

(b)    Cause.  The Company may terminate the Executive's employment during the Employment Period for "Cause".  For purposes of this Agreement, "Cause" means (i) an act or acts of personal dishonesty taken by the Executive and intended to result in substantial personal enrichment of the Executive at the expense of the Company, (ii) repeated violations by the Executive of the Executive's obligations under Section 4(a) of this Agreement (other than as a result of incapacity due to physical or mental illness) which are demonstrably willful and deliberate on the Executive's part, which are committed in bad faith or without reasonable belief that such violations are in the best interests of the Company and which are not remedied in a reasonable period of time after receipt of written notice from the Company or (iii) the conviction of the Executive of a felony involving moral turpitude.  The Company shall provide the Executive with 30 days written notice of any determination of Cause and provide the Executive, for a period of 30 days following such notice, with the opportunity to appear before the Board, with or without legal representation, to present arguments and evidence on his behalf and following such presentation to the Board, the Executive may only be terminated for Cause if the Board (excluding the Executive if he is a member of the Board), by unanimous consent reasonably determines in good faith that his actions did, in fact, constitute for Cause.

(c)    Good Reason.  The Executive's employment may be terminated during the Employment Period by the Executive for Good Reason.  For purposes of this Agreement, "Good Reason" means:

(i)    A material diminution in the Executive’s base compensation;
(ii)    A material diminution in the Executive’s authority, duties and responsibilities as in effect immediately prior to the Change of Control or, if applicable, the Date of Termination;
(iii)    A material diminution in the authority, duties and responsibilities of the supervisor to whom the Executive is required to report as in effect immediately prior to the Change of Control or, if applicable, the Date of Termination; 
(iv)    A material change in the geographic location in which Executive’s principal office was located immediately prior to the Change of Control or, if applicable, the Date of Termination;
(v)    A material diminution in the budget over which the Executive had authority immediately prior to the of the Change of Control or, if applicable, the Date of Termination;
(vi)    Any other action or inaction that constitutes a material breach by the Company of this Agreement or any other agreement under which the Executive provides services;
provided, however, that Good Reason shall not exist unless the Executive has given written notice to the Company within ninety (90) days of the initial existence of the Good Reason event or condition(s) giving specific details regarding the event or condition; and unless the Company has had at least thirty (30) days to cure such Good Reason event or condition after the delivery of such written notice and has failed to cure such event or condition within such thirty (30) day cure period.

(d)    Notice of Termination.  Any termination by the Company for Cause or by the Executive for Good Reason shall be communicated by Notice of Termination to the other party hereto given in accordance with Section 13(b) of this Agreement.  For purposes of this Agreement, a "Notice of Termination" means a written notice which (i) indicates the specific termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive's employment under the provision so indicated and (iii) if the Date of Termination (as defined below) is other than the date of receipt of such notice, specifies the termination date (which date shall be not more than fifteen days after the giving of such notice).  The failure by the Executive or the Company to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Good Reason or Cause shall not waive any right of 

the Executive or the Company hereunder or preclude the Executive or the Company from asserting such fact or circumstance in enforcing the Executive's or the Company’s rights hereunder.

(e)    Date of Termination.  "Date of Termination" means the date of receipt of the Notice of Termination or any later date (taking into account any applicable notice and cure period) specified therein, as the case may be; provided  however, that (i) if the Executive's employment is terminated by the Company other than for Cause, death or Disability, the Date of Termination shall be the date on which the Company notifies the Executive of such termination, and (ii) if the Executive's employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death of the Executive or the Disability Effective Date, as the case may be. 

6.    Obligations of the Company upon Termination.

(a)    Death.  If the Executive's employment is terminated by reason of the Executive's death during the Employment Period, this Agreement shall terminate without further obligations to the Executive's legal representatives under this Agreement, other than for (i) payment of the sum of the following amounts:  (A) the Executive's Annual Base Salary through the Date of Termination to the extent not theretofore paid, (B) the product of (I) the Highest Annual Bonus and (II) a fraction, the numerator of which is the number of days in the current fiscal year through the Date of Termination, and the denominator of which is 365, and (C) any accrued and unpaid Annual Bonus amounts, compensation or vacation pay, in each case, to the extent not yet paid by the Company (the amounts described in subparagraphs (A), (B) and (C) are hereafter referred to as "Accrued Obligations" and shall be paid to the Executive’s estate or beneficiary, as applicable, in a lump sum in cash within 30 days of the Date of Termination), (ii) any other benefits or compensation payable under any employee benefit plan in accordance with the applicable plans’ terms, including, without limitation, any non-qualified plan or DCP; (iii) for the remainder of the Employment Period, or such longer period as any plan, program, practice or policy may provide, the Company shall continue benefits to the Executive and/or the Executive's family at least equal to those which would have been provided in accordance with the applicable plans, programs, practices and policies described in Section 4(b)(v) and (vi) of this Agreement as if the Executive's employment had not been terminated in accordance with the most favorable plans, practices, programs or policies of the Company and its affiliated companies as in effect and applicable generally to other peer executives and their families during the one year period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect at any time thereafter with respect to other peer executives of the Company and its affiliated companies and their families (such continuation of such benefits for the applicable period herein set forth and such transfer of the Individual Policy shall be hereinafter referred to as “Welfare Benefit Continuation”; for purposes of determining eligibility of the Executive for retiree benefits pursuant to such plans, practices, programs and policies, the Executive shall be considered to have remained employed until the end of the Employment Period and to have retired on the last day of such period), and (iv) payment to the Executive’s estate or beneficiary, as applicable, in a lump sum in cash within 30 days of the Date of Termination of an amount equal to the sum of the Executive’s Annual Base Salary and the Highest Annual Bonus.  Subject to the provisions of Section 9 hereof, but, otherwise, anything herein to the contrary notwithstanding, the Executive's family shall be entitled to receive benefits at least equal to the most favorable benefits provided by the Company and any of its affiliated companies to surviving families of peer executives of the Company and such affiliated companies under such plans, programs, practices and policies relating to family death benefits, if any, as in effect with respect to other peer executives and their families at any time during the one year period immediately preceding the Effective Date or, if more favorable to the Executive and/or the Executive's family, as in effect on the date of the Executive's death with respect to other peer executives of the Company and its affiliated companies and their families.

(b)    Disability.  If the Executive's employment is terminated by reason of the Executive's Disability during the Employment Period, this Agreement shall terminate without further obligations to the Executive, other than for (i) payment of the Accrued Obligations (which shall be paid in a lump sum in cash within 30 days of the Date of Termination), (ii) the timely payment and provision of the Welfare Benefit Continuation, and (iii) payment to the Executive in a lump sum in cash within 30 days of the Date of Termination of an amount equal to the sum of the Executive’s Annual Base Salary and the Highest Annual Bonus.    Subject to the provisions of Section 9 hereof, but, otherwise, anything herein to the contrary notwithstanding, the Executive shall be entitled after the Disability Effective Date to receive disability and other benefits at least equal to the most favorable of those provided by the Company and its affiliated companies to disabled executives and/or their families in accordance with such plans, programs, practices and policies relating to disability, if any, as in effect with respect to other peer executives and their families at any time during the one year period immediately preceding the Effective Date or, if more favorable to the Executive and/or the Executive's family, as in effect at any time thereafter with respect to other peer executives of the Company and its affiliated companies and their families.

(c)    Cause, Other than for Good Reason.  If the Executive's employment shall be terminated by the Company for Cause or by the Executive other than for Good Reason (and other than by reason of his death or disability) during the Employment Period, this Agreement shall terminate without further obligations to the Executive other than the obligation to pay to the Executive Annual Base Salary through the Date of Termination.  In such case, such amounts shall be paid to the Executive in a lump sum 

in cash within 30 days of the Date of Termination.  The Executive shall, in such event, also be entitled to any benefits required by law that are not otherwise provided by this Agreement.

(d)    Termination Following a Change of Control by the Company without Cause or by the Executive for Good Reason.  Following a Change of Control if the Executive is terminated by the Company without Cause or he resigns for Good Reason, then the Company shall pay the Executive the following:

(i)    the Company shall pay to the Executive in a lump sum in cash within 30 days after the Date of Termination all Accrued Obligations; and

(iii)    the Company shall pay to the Executive a lump sum amount in cash within 30 days after the Date of Termination equal to the (such amount shall be hereinafter referred to as the “Change of Control Payment”) to the product of (X) two point ninety nine (2.99) multiplied by the sum of (i) (Y) the Annual Base Salary for the fiscal year immediately preceding the Date of Termination and (ii) Highest Annual Bonus; and

(iv)    notwithstanding any other provisions to the contrary contained herein or in any option agreement, restricted stock agreement or other equity compensation agreement, between the  Company and the Executive, or any stock option, restricted stock or other equity compensation plans sponsored by the Company, unless such agreement or plan expressly references and supersedes this Agreement, then all unvested options, restricted stock or stock appreciation rights which Executive then holds to acquire securities from the Company shall be immediately and automatically exercisable as of the Effective Date, and the Executive shall have the right to exercise any such options or stock appreciation rights for the shorter of  one year after the Date of Termination or the remaining term of the applicable equity award.

(e)    Termination by the Company Without Cause or by Executive for Good Reason.  If the Executive's employment with the Company shall be terminated by the Company without Cause or by the Executive for Good Reason (as defined in Section 5(c) without regard to whether a Change of Control has occurred) at any time prior to the Effective Date, then the Executive shall be entitled to each and all of the following: 
(i)The Company shall pay the Executive all Accrued Obligations; 
(ii)The Company shall pay the Executive a Pro Rata Bonus;
(iii)The Company shall continue to pay the Executive his Base Salary and an amount equal to the Average Annual Bonus divided by the number of payroll periods during the one year severance period for the period of one (1) year from the Date of Termination in accordance with its normal payroll practices and subject to applicable tax withholding;  and
(iv)Continue to provide the Executive with medical and dental benefits on the same terms and conditions provided to other executives of the Company for a period of one (1) year from the Date of Termination; and
(f)    Mitigation.  The Executive shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise and no such payment shall be offset or reduced by the amount of any compensation or benefits provided to the Executive in any subsequent employment.

(g)    Other Severance Benefits.  The severance pay and benefits provided for in Section 6(e) shall be in lieu of any other severance or termination pay to which the Executive may be entitled under any Company, including   any subsidiary or affiliated entity of the Company, severance or termination plan , program, practice or arrangement.  The Executive's entitlement to any other compensation or benefits shall be determined in accordance with the Company's employee benefit plans and other applicable programs, policies and practices then in effect.

7.    Non-exclusivity of Rights.  Except as provided in Section 6, nothing in this Agreement shall prevent or limit the Executive's continuing or future participation in any benefit, bonus, incentive or other plans, programs, policies or practices, provided by the Company or any of its affiliated companies and for which the Executive may qualify, nor shall anything herein limit or otherwise affect such rights as the Executive may have under any other agreements with the Company or any of its affiliated companies.  Amounts which are vested benefits or which the Executive is otherwise entitled to receive under any plan, policy, practice or program of the Company or any of its affiliated companies at or subsequent to the Date of Termination shall be payable in accordance with such plan, policy, practice or program except as explicitly modified by this Agreement.

8.    Full Settlement. 

(a)    The Company's obligation to make the payments provided for in this Agreement and otherwise to perform its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which 

the Company may have against the Executive or others.  In no event shall the Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement and, except as provided in Section 6(d)(ii), such amounts shall not be reduced whether or not the Executive obtains other employment.  

(b)    Prior to the occurrence of a Change of Control, the Company agrees to reimburse the Executive for all legal fees and expenses which the Executive may reasonably incur as a result of any contest by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof, if the Executive prevails in such contest.  Following a Change of Control, the Company agrees to pay promptly as incurred, to the full extent permitted by law, all legal fees and expenses which the Executive may reasonably incur as a result of any contest (regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof.

(c)    If there shall be any dispute between the Company and the Executive (i) in the event of any termination of the Executive’s employment by the Company, whether such termination was for Cause, or (ii) in the event of any termination of employment by the Executive, whether Good Reason existed, then, unless and until there is a final, nonappealable judgment by a court of competent jurisdiction declaring that such termination was for Cause or that the determination by the Executive of the existence of Good Reason was not made in good faith, the Company shall pay all amounts, and provide all benefits, to the Executive and/or the Executive’s family or other beneficiaries, as the case may be, that the Company would be required to pay or provide pursuant to Section 6(d) as though such termination were by the Company without Cause, or by the Executive with Good Reason; provided, however, that the Company shall not be required to pay any disputed amount pursuant to this paragraph except upon receipt of an undertaking by or on behalf of the Executive to repay all such amounts to which the Executive is ultimately adjudged by such court not to be entitled.  

9.    Tax Withholding

.  The Company may withhold from any amounts payable under this Agreement such taxes (including any amounts of employee social security contributions) as shall be required to be withheld pursuant to any applicable law or regulation 

10.    Confidential Information.  The Executive shall hold in a fiduciary capacity for the benefit of the Company all secret or confidential information, knowledge or data relating to the Company or any of its affiliated companies, and their respective businesses, which shall have been obtained by the Executive during the Executive's employment by the Company or any of its affiliated companies and which shall not be or become public knowledge (other than by acts by the Executive or representatives of the Executive in violation of this Agreement).  After termination of the Executive's employment with the Company, the Executive shall not, without the prior written consent of the Company or as may otherwise be required by law or legal process, communicate or divulge any such information, knowledge or data to anyone other than the Company and those designated by it.  In no event shall an asserted violation of the provisions of this Section 10 constitute a basis for deferring or withholding any amounts otherwise payable to the Executive under this Agreement.

11.    Successors.

(a)    This Agreement is personal to the Executive and without the prior written consent of the Company shall not be assignable by the Executive otherwise than by will or the laws of descent and distribution.  This Agreement shall inure to the benefit of and be enforceable by the Executive's legal representatives.

(b)    This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns.

(c)    The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.  The Company shall provide written evidence to the Executive to document compliance with the foregoing sentence within ten (10) business days of the Effective Date.  As used in this Agreement, "Company" shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law, or otherwise. In addition, the Executive shall be entitled, upon exercise of any outstanding stock options or stock appreciation rights of the Company, to receive in lieu of shares of the Company’s stock, shares of such stock or other securities of such successor as the holders of shares of the Company’s stock received pursuant to the terms of the merger, consolidation or sale.

12.    
13.    Release.   The Executive agrees that, with the exception of the Accrued Obligations due to him in accordance with the terms hereunder, that the payment of any severance under this Agreement to the Executive by the Company, is subject to and conditioned on Executive executing a general release of the Company in a form and scope determined by the Company in its sole discretion (the “Release Agreement”), without Executive revoking such Release Agreement within fifty-two (52) days of the Date of Termination (the “Consideration Period”) and provided that (a) if the Date of Termination occurs in one calendar year and the Consideration Period (including the payment date) expires during the following calendar year, then notwithstanding anything herein to the contrary, the payments of severance under Section 6(e) will be paid by the Company to the Executive in the second calendar year; (b) the Executive continues to comply with the provisions of the Non-Competition Agreement; and (c) prior to the expiration of the Consideration Period (i) Executive provides satisfactory evidence to the Company that he has returned all Company property, confidential information and documentation to the Company, and (ii) provides the Company with a signed written resignation of Executive’s status as an officer of the Company or any of its affiliates, if applicable.

14.    Miscellaneous.

(a)    This Agreement shall be governed by and construed in accordance with the laws of England and Wales and the Executive and the Company agree to the exclusive jurisdiction of the English Court.  The captions of this Agreement are not part of the provisions hereof and shall have no force or effect.  This Agreement may not be amended or modified otherwise than by a written agreement executed by the parties hereto or their respective successors and legal representatives.

(b)    All notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other party or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

If to the Executive:

____________ (at the last known address on file with the Company)

If to the Company:

Hologic, Inc.
35 Crosby Drive
Bedford, Massachusetts 01730-1401
Attention:  Chief Executive Officer

or to such other address as either party shall have furnished to the other in writing in accordance herewith.  Notices and communications shall be effective when actually received by the addressee.

(c)    The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement.

(d)    The Company may withhold from any amounts payable under this Agreement such Federal, state or local taxes as shall be required to be withheld pursuant to any applicable law or regulation.

(e)    The Executive's or the Company’s failure to insist upon strict compliance with any provision hereof shall not be deemed to be a waiver of such provision or any other provision thereof.

(f)    This Agreement contains the entire understanding of the Company and the Executive with respect to the rights and other benefits that the Executive shall be entitled during the Employment Period, and in connection therewith shall supersede all prior oral and written communications with the Executive with respect thereto, including without limitation any and all rights and benefits the Executive may have under the Original Change of Control Agreement; provided, however, that the Employee Intellectual Property Rights and Non-Competition Agreement, option or other equity agreements or other employment agreement by and between the Company and Executive shall remain in full force and effect and if the Company’s separation policy would provide greater benefits to the Executive than this Agreement, then the Executive may elect to receive benefits under the Company’s separation policy in lieu of the benefits provided hereunder.  Nothing herein shall affect the application of the Company’s separation policy in lieu of the benefits provided hereunder.  Nothing herein shall affect the application of the Company’s separation policy prior to the Effective Date.

(g)    The Executive and the Company acknowledge that, except as may otherwise be provided under this Agreement or any other written agreement between the Executive and the Company, prior to the Effective Date, the employment of the 

Executive by the Company is “at will” and may be terminated by either the Executive or the Company at any time.  Notwithstanding anything contained herein, if during or prior to the Employment Period, the Executive shall terminate employment with the Company other than for Good Reason,  then the Executive shall have no liability to the Company. 

IN WITNESS WHEREOF, the Executive has hereunto set his hand and, pursuant to the authorization from its Board of Directors, the Company has caused these presents to be executed in its name on its behalf, all as of the day and year first above written.

	
					
	 
	 
	HOLOGIC, INC.
	 
	 

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ Mark J Casey

	 
	 
	Name:
	Mark J Casey

	 
	 
	Title:
	SVP, General Counsel, Secretary

	 
	 
	 
	 
	 

	 
	 
	EXECUTIVE
	 
	 

	 
	 
	 
	/s/ Claus Egstrand

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