Document:

Retirement and Consulting Agreement

 Exhibit 10.12 

RETIREMENT AND CONSULTING AGREEMENT 

THIS RETIREMENT AND CONSULTING AGREEMENT (this “Agreement”) is made as of July 13, 2010, by and between BIOMET,
INC., an Indiana corporation (“Biomet”), Biomet Europe BV, a Dutch corporation (“Biomet Europe”) [Biomet and Biomet Europe BV collectively referred to as the “Company”], and Roger Van Broeck
(“Executive”). 
 WHEREAS, Biomet and Executive entered into that certain senior executive employment agreement
dated February 1, 2008 (“Employment Agreement”) and Biomet’s affiliate, Biomet Europe and Executive entered into that certain employment agreement dated July 1, 2000 (“Biomet Europe Employment Agreement”).

 WHEREAS, Executive has elected to retire from the Company and to resign all his positions with the Company or any of the
Company’s affiliates effective as of the Retirement Date (as defined below); 
 WHEREAS, the parties have agreed to enter
into this Agreement in connection with Executive’s retirement. 
 NOW, THEREFORE, in consideration of the foregoing
premises and the respective agreements hereinafter set forth and the mutual benefits to be derived herefrom, the Company and Executive hereby agree as follows: 

1. Retirement and Resignation. Effective as of the September 1, 2010 (the “Retirement Date”), Executive
hereby retires from the Company and, as a consequence, voluntarily resigns his employment and all positions with the Company and all of its affiliates, including without limitation Executive’s position as Senior Vice President of Biomet and
President of Biomet Europe, Middle East and Africa. Executive acknowledges and agrees that his retirement is voluntary and that he is not entitled to any severance or termination pay. Unless Executive’s employment terminates prior to the
Retirement Date, Executive shall continue to be an employee of the Company and shall continue to participate in the Company’s welfare benefit programs until the Retirement Date. 

2. Consulting Agreement. The Company has agreed to retain Executive as a consultant, and Executive agreed to serve as a
consultant, on the terms and conditions set forth in this Section 2. 
 (a) Duties and Responsibilities of
Executive. During the Consulting Term (as defined below), Executive’s duties as a consultant for the Company shall be tasks reasonably and customarily fulfilled by a consultant of the type and nature of Executive, said tasks to be performed
during regular business hours of the Company, with the Company providing Executive reasonable notice of the tasks which the Company will request Executive to perform (reasonable notice by the Company to Executive shall not be less than fifteen
(15) days written notice by the Company to Executive of the tasks Executive shall perform for and on behalf of the Company in his capacity as a consultant to the Company), which said tasks shall be issued from the office of the Company’s
Chief Executive Officer or President of Biomet Europe. 

 (b) Compensation/ Travel Expenses / W-9 Tax Form. 

(i) As full compensation for all authorized services rendered by Executive under Section 2 during the Consulting Term and for any
other obligations under this Agreement, the Company shall pay Executive Two Hundred Fifty Euro (€250) for each hour (with a maximum of Two Thousand Euro (€2,000) per day) Executive performs consulting services for the Company.

 (ii) Executive shall invoice the Company on a monthly basis for consulting services rendered in, and reimbursable expenses
incurred during, the previous month. The invoice shall be reasonably detailed as to scope of the consulting services rendered and the time devoted by Executive to such services. The Company shall pay Executive within thirty (30) days of receipt
of such invoice. 
 (iii) The Company agrees to pay Executive’s reasonable actual travel and lodging expenses related to
travel approved in advance by the President and Chief Executive Officer of the Company or the President of Biomet Europe and required for Executive to perform the consulting services identified in this Agreement. Executive agrees that all travel and
lodging expenses shall be governed by and subject to the Company’s travel policies as made and known to Executive from time to time. The Company also agrees to reimburse Executive for minor, miscellaneous, reasonable out-of-pocket expenses
related to such approved travel, such as ground transportation and modest meals, subject to receipt of reimbursement requests by the Company and review and approval of such expenses by the Company; provided that any expenses in excess of One
Thousand Euro (€1,000) must be approved in writing and in advance by the Company. Executive shall not bill the Company in advance of incurring any expenses. 

(c) Independent Contractor. During the Consulting Term, Executive shall be solely an independent contractor and Executive agrees
that he will not be an employee under this Section 2 of the Company, and is not entitled to employment benefits from the Company with the exception of benefits as specifically set forth in this Section 2. Executive further agrees that the
only monetary or economic obligations of the Company to Executive for services rendered during the Consulting Term shall be to provide payment as set forth in this Section 2. 

(d) Tax Liabilities. All amounts payable under this Section 2 to Executive shall be paid without reduction by the Company for
any local, state or federal income, employment or withholding taxes, it being the intention of the parties that Executive shall be solely responsible for the payment of all taxes imposed or related to his business activities. 

(e) Term and Termination. 

(i) The Consulting Term shall commence on the Retirement Date and shall continue until the earliest of (i) the second anniversary
of the Retirement Date, (ii) an Initial Public Offering, or (iii) a Change of Control (the “Consulting Term”). 

(ii) Either party may terminate this Agreement before the end of the Consulting Term only if the other party has breached a material
term of the Agreement, and the 
  

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breaching party has failed to remedy such breach within thirty (30) calendar days following written notice from the non-breaching party. Upon such termination, the Company shall pay to
Executive all compensation payable to Executive for consulting services rendered up to the date of termination, and the Company shall have no further liability to Executive. 

(iii) The Consulting Term shall terminate immediately upon the death or disability of Executive during the Consulting Term and in such
event, the Company shall pay to Executive or Executive’s personal representative all compensation payable to Executive for services rendered up to the date on which his death or disability occurs, and the Company shall have no further liability
to Executive or his personal representative. 
 For purposes of this Section 2, the terms “Initial Public
Offering” and “Change of Control” have the meanings ascribed to such terms in the LVB Acquisition, Inc. Management Equity Incentive Plan, adopted November 16, 2007. 

3. Confidential Information. Executive recognizes that, because of the nature of the Company’s business and the nature of the
consulting services he will be providing to the Company, Executive will, during the Consulting Term, remain and become acquainted with the customers, products and technology of the Company and its affiliates (including its direct and indirect
subsidiaries) and will be given access to such information and to certain other valuable proprietary information of a confidential nature which is developed, compiled, and utilized by the Company and/or its affiliates in its business. Executive
shall not, during the Consulting Term or thereafter, disclose any item of Confidential Information to any third party or use any such item for his own benefit or for the benefit of any third party without the prior written consent of the Company,
until such time that such Confidential Information shall have properly become known to the general public. For purposes of this Agreement, the term “Confidential Information,” shall mean and refer to, without limitation, (a) any
information, documentation or technology designated as confidential or secret, or of any trade secret of a confidential nature which is required to be maintained as such for continued success of the business of the Company or its affiliates, or
(b) any information identifying the customers to whom the Company or its affiliates sells its products and services, including product and service requirements and preferences of such customers. 

4. Non-Competition and Non-Solicitation. 

(a) Non-Competition. Executive agrees that during the Consulting Term and for one year thereafter, Executive shall not, directly or
indirectly, engage, participate, or assist in any business organization whose activities or products are directly competitive with the activities or products of the Company, or any of its affiliates, in areas where the Company or its affiliates, do
business, whether as owner, part-owner, stockholder, partner, director, officer, trustee, employee, agent, consultant or any other capacity, on his own behalf or on behalf of any corporation, partnership, or other business organization. Executive
may make passive investments in a competitive enterprise the shares of which are publicly traded, provided that Executive’s holdings in such enterprise, together with the holdings of any of the Executive’s affiliates (as that term is
defined in Rule 405 of the Rules under the Securities Exchange Act of 1934, as amended), do not exceed 1% of the outstanding shares of the stock of such enterprise. 

 

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 (b) Non-Solicitation. Executive agrees that during the Consulting Term and for one
year thereafter, he shall not directly or indirectly (i) solicit any person (natural or otherwise) to purchase or sell products directly or indirectly competitive with the products of the Company or its affiliates if the person is or had been a
vendor or purchaser of such products during the 12 months prior to the termination of this Agreement, or (ii) recruit or otherwise solicit or induce any person who is at the time an executive, employee, employee consultant or sales associate of
the Company or its affiliates to terminate his employment with, or cease his relationship with the Company or its affiliates, or hire any such executive, employee, consultant, or sales associate who has left the employ or service of the Company or
its affiliates within one year of that executive’s, employee’s, consultant’s, or sales associate’s direct or indirect employment by Executive. 

(c) Restrictions Reasonable. The confidentiality restrictions and the restrictions against competition and solicitation set forth
above are considered by the parties to be reasonable for the purposes of protecting the business of the Company and its affiliates. If any restriction is found by a court of competent jurisdiction to be unenforceable because it extends for too long
a period of time, over too broad a range of activities or in too large a geographic area, that restriction shall be interpreted to extend only over the maximum period of time, range of activities or geographic areas as to which it may be
enforceable. Executive acknowledges that in the event of any breach of Sections 3, 4, or 5, the business interests of the Company and its affiliates will be irreparably injured, the full extent of the damages to the Company and its affiliates
will be impossible to ascertain, monetary damages will not be an adequate remedy for the Company and its affiliates, and the Company will be entitled to enforce these Sections by a temporary, preliminary and/or permanent injunction or other
equitable relief, without the necessity of posting bond or security, which Executive expressly waives. Executive agrees that each of Executive’s obligations specified in this Agreement is a separate and independent covenant and that the
unenforceability of any of them shall not preclude the enforcement of any other covenants in this Agreement. 
 5. Treatment
of Equity. In consideration for Executive’s promises and commitments in the Agreement, (including Executive’s release of claims under Section 7) the Company agrees as follows: 

(a) Options. The Options previously granted to Executive pursuant to the Non-Qualified Stock Option Agreement dated as of
October 5, 2009 that are exercisable as of July 11, 2010 (the “Vested Options”) shall continue to be exercisable until the tenth anniversary of the Grant Date (as defined in the Option Agreement). For the sake of clarity,
(i) Appendix A lists the Vested Options held by Executive as of the Retirement Date, (ii) all other options held by Executive that are not Vested Options shall expire and terminate on the Retirement Date and (iii) all other provisions
applicable to the Vested Options (including any ability to terminate the Vested Options prior to the tenth anniversary of the Grant Date due to Executive’s violation of any contractual obligations or in connection with a corporate transaction)
shall continue to apply in accordance with their terms. 
 (b) Call Rights. LVB Acquisition, Inc. agrees that it shall
waive its repurchase rights set forth in Section 3(b)(i) of the Management Stockholders’ Agreement for Senior Executives dated as of September 13, 2007. 
  

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 6. Release of Claims. 

(a) General Release. In consideration of the Company’s obligations hereunder and acceptance of Executive’s retirement and
resignation, Executive, on behalf of himself and Executive’s heirs, successors, and assigns, hereby knowingly and voluntarily releases and forever discharges the Company and its subsidiaries and affiliates, together with all of their respective
current and former officers, directors, consultants, agents, representatives and employees, and each of their predecessors, successors and assigns (collectively, the “Releasees”), from any and all debts, demands, actions, causes of
actions, accounts, covenants, contracts, agreements, claims, damages, omissions, promises, and any and all claims and liabilities whatsoever, of every name and nature, known or unknown, suspected or unsuspected, both in law and equity
(“Claims”), which Executive ever had, now has, or may hereafter claim to have against the Releasees by reason of any matter, cause or thing whatsoever arising from the beginning of time to the time Executive executes this Agreement
(the “General Release”). This General Release of Claims shall apply to any Claim of any type, including, without limitation, any and all Claims of any type that Executive may have arising under the common law, under Title VII
of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Age Discrimination in Employment Act (“ADEA”), the Older Workers Benefit Protection Act, the Americans With Disabilities Act, the Family and
Medical Leave Act, the Employee Retirement Income Security Act (“ERISA”), the Sarbanes-Oxley Act of 2002 or the California Fair Employment and Housing Act, the California Family Rights Act, or the California Labor Code
section 1400 et seq., each as amended, and any other Federal, state or local statutes, regulations, ordinances or common law, or under any policy, agreement, contract, understanding or promise, written or oral, formal or
informal, between any of the Releasees and Executive, and shall further apply, without limitation, to any and all Claims in connection with, related to or arising out of Executive’s employment, or the termination of Executive’s employment,
with the Company; provided, however, that this General Release shall not apply to or impair (i) claims for vested benefits pursuant to any other Company employee benefit plan, as defined in ERISA, in which Executive were a
participant before the Separation Date; (ii) any rights to indemnification Executive may have under the charter, by-laws of the Company or applicable law; or (iii) any claims that may arise from any violation or breach of this Agreement
(collectively, “Excluded Claims”). For the purpose of implementing a full and complete release, Executive understands and agrees that this Agreement is intended to include all claims, if any, which Executive may have and which
Executive does not now know or suspect exist in Executive’s favor against the Company or any of the Releasees and that this Agreement extinguishes those claims. 

(b) No Claims. Executive represents and warrants that Executive has not filed any complaints or charges with any court or
administrative agency against the Company or any of the Releasees, which have not been dismissed, closed, withdrawn or otherwise terminated on or before the date of this Agreement. Executive further represents and warrants that Executive has not
assigned or transferred or attempted to assign or transfer, nor will Executive attempt to assign or transfer, to any person or entity not a party to this Agreement any of the Claims Executive is releasing in this Agreement. Furthermore, by signing
this General Release of Claims, Executive represents and agrees that Executive will not be entitled to any personal recovery in any action or proceeding that may be commenced on Executive’s behalf arising out

  

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of the matters released hereby. The Executive understands and agrees that if he commences, continues, joins in, or in any other manner attempts to assert any lawsuit released herein against the
Company, or otherwise violates the terms of the General Release, he shall be required to return all payments paid to him by the Company pursuant to this Agreement (together with interest thereon), and he agrees to reimburse the Company for all
attorneys’ fees and expenses incurred by the Company in defending against such a lawsuit, provided that the right to receive such payments is without prejudice to the Company’s other rights hereunder, including any release of any and all
Claims (other than the Excluded Claims) against the Company. The Executive understands and agrees that the Company’s payments to him and the signing of this Agreement do not in any way indicate that he has any viable Claims against the Company
or that the Company admits any liability to him whatsoever. 
 (c) ADEA/OWBPA Waiver. Executive specifically
releases and waives any right or claim against the Company arising out of his employment or his resignation of employment with the Company under the Age Discrimination in Employment Act, as amended, 29 U.S.C. § 621 et seq.
(“ADEA”) and the Older Workers Benefit Protection Act, 29 U.S.C. § 621 et seq. (“OWBPA”) (such release and waiver referred to as the “Waiver”). Executive understands and
agrees that (i) this Agreement is written in a manner that he understands; (ii) he does not release or waive rights or claims that may arise after he signs this Agreement; (iii) he waives rights and claims he may have had under the
OWBPA and the ADEA, but only in exchange for payments and/or benefits in addition to anything of value to which he is already entitled; (iv) Executive has been advised to consult with an attorney before signing this Agreement; (v) he has
twenty-one (21) calendar days (the “Offer Period”) from receipt of this Agreement to consider whether to sign it. If Executive signs before the end of the Offer Period, Executive acknowledges that his decision to do so was
knowing, voluntary, and not induced by fraud, misrepresentation, or a threat to withdraw, alter, or provide different terms prior to the expiration of the Offer Period. Executive agrees that changes or revisions to this Agreement, whether material
or immaterial, do not restart the running of the Offer Period; (vi) Executive has seven (7) calendar days after signing this Agreement to revoke the waiver (the “Revocation Period”) and (vii) this Waiver shall not
become effective or enforceable until the Revocation Period has expired. If Executive revokes the Waiver, Executive shall not be retained as a consultant under Section 2 and shall not be entitled to the benefits under Section 6. To be
effective, the revocation must be in writing and received by Jeffrey R. Binder, Chief Executive Officer, at the Company’s address set forth in Section 9. 

(d) In consideration of Executive’s entering into this Agreement, the Company releases and discharges Executive from and agrees to
indemnify Executive for any and all claims, actions, causes of action, rights, benefits, compensation, or damages, including costs and attorneys’ fees, of whatever nature, whether known or unknown, now existing or arising in the future from any
act, omission, event, occurrence or non-occurrence prior to the date the Company signs this Agreement arising out of or in any way related to Executive’s employment with the Company or any of its affiliates. This Release does not include and
will not extend to any actions of Executive arising out of, based upon or attributable to the committing of any deliberate criminal or deliberate fraudulent or dishonest act, or any willful violation of any statute, rule or law, if any final
adjudication establishes that such deliberate criminal, deliberate fraudulent or dishonest act or willful violation of statute, rule or law was committed. 
  

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 7. Ongoing Cooperation. As part of the consideration being provided to Executive
under this Agreement, the Company expects Executive to make himself reasonably available to the Company and/or its legal counsel and other designated representatives or agents, in connection with all investigations, audits, suits, claims or disputes
regarding the Company or its affiliates. As a result, the Executive and the Company agree to the following: 
 (a) Executive
shall respond to the best of Executive’s ability to reasonable inquiries from the Company concerning ongoing matters within Executive’s knowledge and/or former area of responsibility and to assist the Company in transitioning those matters
to other personnel. Executive shall fully cooperate with the Company and/or its legal counsel and other designated representatives or agents in providing information in connection with threatened, pending or future investigations or litigation,
including giving depositions and appearing for live interviews and proceedings. 
 (b) Executive shall submit to the Company,
within thirty (30) days of incurring any time or expense in providing the services contemplated in this Section 7, a written expense report detailing the time Executive spent and all out-of-pocket expenses for travel, lodging, meals and
related expenses incurred by Executive in providing such services. The Company shall reimburse Executive for any such out-of-pocket expenses and shall pay Executive, in addition to the payments set forth in this Agreement, Two Hundred Fifty Euro
(€250) per hour for such time. 
 8. Notices. Any notice, report or payment required or permitted to be given
or made under this Agreement by one party to the other shall be deemed to have been duly given or made if personally delivered or, if mailed, when mailed by registered or certified mail, postage prepaid, to the other party at the following addresses
(or at such other address as shall be given in writing by one party to the other): 
  

	
	 If to Executive:

	
	 Roger Van Broeck

	 Patrijzenlaan 7

	 9259 Waasmunster

	 Belgium

	
	 If to Company:

	
	 Biomet, Inc.

	 56 E. Bell Drive

	 P.O. Box 587

	 Warsaw, Indiana 46581-0587

	 Attn: General Counsel

9. Entire Agreement. This Agreement (a) contains the complete and entire understanding and agreement of Executive and the
Company with respect to the subject matter hereof; and (b) supersedes all prior and contemporaneous understandings, conditions and 

 

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agreements, oral or written, express or implied, respecting the engagement of Executive in connection with the subject matter hereof. The parties specifically agree that the Employment Agreement
and the Biomet Europe Employment Agreement are terminated as of September 1, 2010. Notwithstanding the foregoing, Section 7 of the Employment Agreement shall continue to apply in accordance with its terms. 

10. Modification or Waiver. The provisions of this Agreement may be amended and waived only with the prior written consent of the
Company and Executive. No course of dealing between the parties to this Agreement shall be deemed to affect or to modify, amend or discharge any provision or term of this Agreement. No delay on the part of the Company or Executive in the exercise of
any of their respective rights or remedies shall operate as a waiver thereof, and no single or partial exercise by the Company or Executive of any such right or remedy shall preclude other or further exercises thereof. A waiver of right or
remedy on any one occasion shall not be construed as a bar to or waiver of any such right or remedy on any other occasion. 

11. Severability. Whenever possible each provision and term of this Agreement shall be interpreted in such manner as to be
effective and valid under applicable law, but if any provision or term of this Agreement shall be held to be prohibited by or invalid under such applicable law, then such provision or term shall be ineffective only to the extent of such prohibition
or invalidity, without invalidating or affecting in any manner whatsoever the remainder of such provision or term or the remaining provisions or terms of this Agreement. 

12. No Strict Construction. The language used in this Agreement shall be deemed to be the language chosen by the parties hereto to
express their mutual intent, and no rule of strict construction shall be applied against any party. 
 13. Executive’s
Representations. Executive represents and warrants to the Company that (i) his execution, delivery and performance of this Agreement does not and shall not conflict with, or result in the breach of or violation of, any other agreement,
instrument, order, judgment or decree to which he is a party or by which he is bound and (ii) he is not a party to or bound by any employment agreement, non-competition agreement or confidentiality agreement with any other person or entity that
would prevent him from performing under this Agreement. 
 14. Federal Anti-Kickback Statute. The Company and Executive
will not violate 42 U.S.C. § 1320 a -7b (b) (Anti-Kickback Statute) in the performance of this Agreement. 
 15.
Compliance with Laws/FCPA. In addition to the specific provisions elsewhere in this Agreement, Executive shall comply with all laws applicable to the consulting services in any jurisdiction in which Executive performs any of the consulting
services. Executive further acknowledges that he is aware of and shall comply with the provisions of the Foreign Corrupt Practices Act, 15 USC §78dd-l through 3, as amended, and any laws of any jurisdiction relating to commercial bribery. By
way of example and not limitation, except as permitted by law, Executive shall not offer, pay, or promise to pay, any money or thing of value, directly or indirectly, to any person who is a government official for the purpose of obtaining or
retaining any business. For these purposes “government official” shall include any employee of any governmental entity, political party, or public international organization, any political party official, or any candidate for public office
in any jurisdiction. 
  

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 16. Use of Name and Logo. Executive will not use for publicity, promotion, or
otherwise, any logo, name, trade name, service mark, or trademark of the Company or its affiliates, or any simulation, abbreviation, or adaptation of the same, without the Company’s prior, written, express consent. The Company may withhold such
consent in the Company’s absolute discretion. 
 17. Counterparts. This Agreement may be executed and delivered by
each party hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original and both of which taken together shall constitute one and the same agreement. 

18. Successors and Assigns. This Agreement will be binding upon and inure to the benefit of the Company and any successor to the
Company, including without limitation any persons acquiring directly or indirectly all or substantially all of the business or assets of the Company whether by purchase, merger, consolidation, reorganization or otherwise (and such successor shall
thereafter be deemed the “Company” for purposes of this Agreement) and such successor shall deliver a written affirmation of its obligations hereunder to Executive. This Agreement will inure to the benefit of and be enforceable by
Executive’s personal or legal representatives, executors, administrators, successors, heirs, and legatees, but otherwise will not be assignable, transferable or delegable by Executive. This Agreement is personal in nature and neither of the
parties hereto shall, without the consent of the other, assign, transfer or delegate this Agreement or any rights or obligations hereunder except as otherwise expressly provided in this Section 19. 

19. Choice of Law, Jurisdiction and Venue. This Agreement shall be governed by and construed in accordance with the domestic laws
of the State of Indiana, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Indiana or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the
State of Indiana. All actions and proceedings arising out of or relating to this Agreement shall be heard and determined in any Indiana state or federal court sitting in Indianapolis, Indiana, and each party hereto hereby irrevocably accepts and
consents to the exclusive personal jurisdiction of those courts for such purpose. In addition, each party hereto hereby irrevocably waives, to the fullest extent permitted by law, any objection which he or it may now or hereafter have to the laying
of venue of any action or proceeding arising out of or relating to this Agreement or any judgment entered by any court in respect thereof brought in any state or federal court sitting in the city of Indianapolis, Indiana and further irrevocably
waives any claim that any action or proceeding brought in any such court has been brought in an inconvenient forum. 
 20.
Mutual Waiver of Jury Trial. BECAUSE DISPUTES ARISING IN CONNECTION WITH COMPLEX TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED BY AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY
(RATHER THAN ARBITRATION RULES), THE PARTIES DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, EACH PARTY TO THIS
AGREEMENT HEREBY WAIVES ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE BETWEEN OR AMONG ANY OF THE PARTIES HERETO, 

 

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WHETHER ARISING IN CONTRACT, TORT, OR OTHERWISE, ARISING OUT OF, CONNECTED WITH, RELATED OR INCIDENTAL TO THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY AND/OR THE RELATIONSHIP ESTABLISHED
AMONG THE PARTIES HEREUNDER. 
 21. Delivery by Facsimile. This Agreement, the agreements referred to herein, and each
other agreement or instrument entered into in connection herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent signed and delivered by means of a facsimile machine, shall be treated in all
manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. 

22. Survivorship. Any provision of this Agreement, that by its terms, is intended to continue to apply after any termination or
expiration of the Agreement shall survive such termination or expiration and continue to apply in accordance with its terms. 

*    *    *    *    * 

 

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 IN WITNESS WHEREOF, Executive, the Company, LVB Acquisition, Inc., and Biomet Europe BV have
caused this Agreement to be duly executed and delivered on the date and year first above written. 
  

			
	 /s/ Roger Van Broeck

	Roger Van Broeck
	
	BIOMET, INC.
		
	By:	 	 /s/ Bradley J. Tandy

		 	Bradley J. Tandy
	Its:	 	Senior Vice President,
		 	General Counsel and Secretary
	
	For purposes of Section 5(b) only
	LVB ACQUISITION, INC.
		
	By:	 	 /s/ Bradley J. Tandy

		 	Bradley J. Tandy
	Its:	 	Senior Vice President,
		 	General Counsel and Secretary
	
	For purposes of Article 9 only
	BIOMET EUROPE BV
		
	By:	 	 /s/ Renaat Vermeulen

		 	Renaat Vermeulen 
	Its:	 	Vice President Sales, Marketing, and
		 	Research and Development

  

 - 11 -Employment Agreement

 Exhibit 10.15 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (“Agreement”), dated as of August 1, 2009 (the “Effective Date”), is
made by and between Biomet, Inc., an Indiana corporation (the “Company”), and Maggie Anderson (the “Executive”). 

WHEREAS, the Company desires to engage the Executive, and the Executive desires to be engaged by the Company, as Senior Vice President of
the Company and President of Biomet 3i, LLC; and 
 WHEREAS, the Company and the Executive desire to enter into this Agreement
to set out the terms and conditions for the employment relationship of the Executive with the Company; 
 NOW, THEREFORE, in
consideration of the mutual covenants and agreements set forth herein and for other good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the parties hereto agree as follows: 

1. Employment Agreement. On the terms and conditions set forth in this Agreement, the Company agrees to employ the Executive and
the Executive agrees to be employed by the Company for the Employment Period set forth in Section 2 and in the positions and with the duties set forth in Section 3. Terms used herein with initial capitalization not otherwise
defined are defined in Section 22. 
 2. Term. The initial term of employment under this Agreement shall be
for a three-year period commencing on the Effective Date (the “Initial Term”). The term of employment shall be automatically extended for an additional consecutive 12-month period (the “Extended Term”) on the first
anniversary of the Effective Date and each subsequent anniversary of the Effective Date, unless and until the Company or Executive provides written notice to the other party in accordance with Section 11 hereof not less than 90 days
before such anniversary date that such party is electing not to extend the term of employment under this Agreement (“Non-Renewal”), in which case the term of this Agreement shall end as of the end of such Initial Term or Extended
Term, as the case may be, unless sooner terminated as hereinafter set forth. Such Initial Term and all such Extended Terms are collectively referred to herein as the “Employment Period.” 

3. Position and Duties. During the Employment Period, the Executive shall serve as Senior Vice President of the Company and
President, Biomet 3i, LLC. In such capacity, the Executive shall report to the Company’s Chief Executive Officer. During the Employment Period, the Executive shall have the powers and authority customarily exercised by individuals serving as
President of a major business unit (of the size and nature of Biomet 3i, LLC) of a company of the size and nature of the Company. The Executive shall devote the Executive’s reasonable best efforts and full business time to the performance of
the Executive’s duties hereunder and the advancement of the business and affairs of the Company; provided that the Executive shall be entitled to serve as a member of the board of directors of another company approved by the
Board, to serve on civic, charitable, educational, religious, public interest or public service boards approved by the Board, and to manage the Executive’s personal and family investments, in each case, to the extent such activities do not,
individually or in the aggregate, materially interfere with the performance of the Executive’s duties and responsibilities hereunder. 

4. Place of Performance. During the Employment Period, the Executive shall be based primarily at the principal executive offices
of Biomet 3i, LLC in Palm Beach Gardens, Florida, except for reasonable travel on the Company’s business consistent with the Executive’s position. 

 5. Compensation and Benefits 

(a) Base Compensation. During the Employment Period, the Company shall pay to the Executive a base salary (the “Base
Salary”) at the rate of no less than $375,024 per year. The Base Salary shall be reviewed for increase by the Company no less frequently than annually and shall be increased in the discretion of the Company and any such adjusted Base Salary
shall constitute “Base Salary” for purposes of this Agreement. The Base Salary shall be paid in substantially equal installments in accordance with the Company’s regular payroll procedures. 

(b) Annual Bonus. The Executive shall be given the opportunity to earn an annual incentive bonus for each fiscal year that ends
during the Employment Period in accordance with the annual bonus plan generally applicable to the Company’s executive officers, as the same may be in effect from time to time (the “Annual Plan”). The Executive’s target
annual incentive bonus opportunity under the Annual Plan shall be no less than 80% of the Executive’s Base Salary for on-target performance with the possibility of exceeding 80% for high achievement. The actual amount payable to the Executive
as an annual bonus under the Annual Plan shall be dependent upon the achievement of performance objectives established in accordance with the Annual Plan by the Board or the Compensation Committee of the Board (or its successor committee) (the
“Compensation Committee”). Any bonus payable pursuant to this Section 5(b) shall be paid at the same time annual bonuses are payable to other officers of the Company in accordance with the terms of the Annual Plan.

 (c) Vacation; Benefits. During the Employment Period, the Company shall provide to the Executive employee benefits and
perquisites on a basis that is no less favorable than that provided to other senior officers of the Company, including participation in the Company’s deferred compensation plan (if any), as in effect from time to time. It is agreed that
Executive will be eligible for three (3) weeks vacation each fiscal year during the Employment Period commencing in fiscal year 2010. Subject to the terms of this Agreement, all benefits are provided at the Company’s sole discretion.
Subject to the terms of this Agreement, the Company shall have the right to change insurance carriers and to adopt, amend, terminate or modify employee benefit plans and arrangements at any time and without the consent of the Executive. 

(d) Relocation Expenses. In connection with the Executive’s commencement of her employment with the Company, pursuant to and
subject to the terms of the Biomet Relocation Service Policy, the Company shall pay (or reimburse Executive for) Executive’s actual relocation expenses from California to the greater Palm Beach Gardens, Florida area, provided that the period of
the Executive’s temporary living reimbursement provided for in the policy shall be extended from 30 days to six months following the Effective Date. 

(e) Sign-On Bonus. The Company shall pay to Executive, within thirty (30) days of the date on which Executive commences her
active employment with the Company, a lump sum cash payment of $200,000 (the “Sign-On Bonus”). The Executive shall be required to repay the Sign-On Bonus to the Company if, prior to the second anniversary of the Effective Date, the
Executive terminates her employment with the Company other than for Good Reason or the Company terminates the Executive’s employment for Cause, provided that such repayment obligation shall lapse with respect to twenty-five percent
(25%) of the Sign-On Bonus for each six (6) month period of employment completed by Executive commencing on the Effective Date. 

6. Expenses. The Executive is expected and is authorized to incur reasonable expenses in the performance of her duties hereunder.
The Company shall reimburse the Executive for all such expenses reasonably and actually incurred in accordance with policies which may be adopted from time to time by the Company promptly upon periodic presentation by the Executive of an itemized
account, including reasonable substantiation, of such expenses. 
  

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 7. Confidentiality, Non-Disclosure and Non-Competition Agreement. The Company and the
Executive acknowledge and agree that during the Executive’s employment with the Company, the Executive will have access to and may assist in developing Company Confidential Information and will occupy a position of trust and confidence with
respect to the Company’s affairs and business and the affairs and business of the Company’s Affiliates. The Executive agrees that the following obligations are necessary to preserve the confidential and proprietary nature of Company
Confidential Information and to protect the Company and its Affiliates against harmful solicitation of employees and customers, harmful competition and other actions by the Executive that would result in serious adverse consequences for the Company
and its Affiliates: 
 (a) Non-Disclosure. During the Executive’s employment with the Company and thereafter, the
Executive will not knowingly use, disclose or transfer any Company Confidential Information other than as authorized in writing by the Company or within Executive’s good faith interpretation of the scope of the Executive’s duties. Anything
herein to the contrary notwithstanding, the provisions of this Section 7(a) shall not apply (i) when disclosure is required by law or by any court, arbitrator, mediator or administrative or legislative body (including any committee
thereof) with actual or apparent jurisdiction to order the Executive to disclose or make accessible any information; or (ii) to information that becomes generally known to the public or within the relevant trade or industry other than due to
the Executive’s violation of this Section 7(a). 
 (b) Materials. The Executive will not remove any
Company Confidential Information or any other property of the Company or any of its Affiliates from the Company’s premises or make copies of such materials except for normal and customary use in the Company’s business. The Company
acknowledges that the Executive, in the ordinary course of her duties, routinely uses and stores Company Confidential Information at home and other locations. The Executive will return to the Company all Company Confidential Information and copies
thereof and all other property of the Company or any of its Affiliates at any time upon the request of the Company and in any event promptly after termination of Executive’s employment. The Executive agrees to attempt in good faith to identify
and return to the Company any copies of any Company Confidential Information after the Executive ceases to be employed by the Company. Anything to the contrary notwithstanding, nothing in this Section 7 shall prevent the Executive from
retaining a home computer, papers and other materials of a personal nature (including diaries and calendars), information relating to her compensation or relating to reimbursement of expenses, information that she reasonably believes may be needed
for tax purposes, and copies of plans, programs and agreements relating to her employment. 
 (c) No Solicitation or Hiring
of Employees. During the Non-Compete Period, the Executive shall not solicit, entice, persuade or induce any individual who is employed by the Company or any of its Affiliates (or who was so employed within 180 days prior to the Executive’s
action) to terminate or refrain from continuing such employment or to become employed by or enter into contractual relations with any other individual or entity other than the Company or any of its Affiliates, and the Executive shall not, directly
or indirectly, hire, or participate in the hiring, as an employee, consultant or otherwise, any such Person. 
 (d)
Non-Competition. 
 (i) During the Non-Compete Period, the Executive shall not, directly or indirectly, (A) solicit
or encourage any client or customer of the Company or any of its Affiliates, or any 
  

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Person who was a client or customer within 180 days prior to Executive’s action to terminate, reduce or alter in a manner adverse to the Company, any existing business arrangements with the
Company or any of its Affiliates or to transfer existing business from the Company or any of its Affiliates to any other Person, (B) provide services to any entity that competes with the Company or its Affiliate in the United States or any
other jurisdiction in which the Executive has any responsibility during her employment hereunder or that provides a product or service competitive with any product or service provided by the Company or its Affiliate or (C) own an interest in
any entity described in subsection (B) immediately above; provided, however, that Executive may own, as a passive investor, securities of any such entity that has outstanding publicly traded securities so long as her direct
holdings in any such entity shall not in the aggregate constitute more than 2% of the voting power of such entity. The Executive agrees that, before providing services, whether as an employee or consultant, to any entity during the Non Compete
Period, she will provide a copy of this Agreement to such entity and acknowledge, to the Company in writing, that she has done so. Notwithstanding the foregoing, nothing in this Section 7 shall prevent the Executive from providing
services to a division or a subsidiary of an entity that does not compete with the Company or any of its Affiliates and that does not provide products or services competitive with products or services provided by the Company or any of its Affiliates
even if other divisions or subsidiaries of that entity compete with the Company so long as the Executive does not have any managerial or supervisory authority with respect to such competitive division or subsidiary. The Executive acknowledges that
this covenant has a unique, very substantial and immeasurable value to the Company, that the Executive has sufficient assets and skills to provide a livelihood for the Executive while such covenant remains in force and that, as a result of the
foregoing, in the event that the Executive breaches such covenant, monetary damages would be an insufficient remedy for the Company and equitable enforcement of the covenant would be proper. The Executive further covenants that she shall not
challenge the reasonableness of any of the covenants set forth in this Section 7, but reserves the right to challenge the Company’s interpretation of such covenants. 

(ii) If the restrictions contained in Section 7(d)(i) shall be determined by any court of competent jurisdiction to be
unenforceable by reason of their extending for too great a period of time or over too great a geographical area or by reason of their being too extensive in any other respect, Section 7(d)(i) shall be modified to be effective for the
maximum period of time for which it may be enforceable and over the maximum geographical area as to which it may be enforceable and to the maximum extent in all other respects as to which it may be enforceable. 

(e) Publicity. During the Employment Period, the Executive hereby grants to the Company the right to use, in a reasonable and
appropriate manner, the Executive’s name and likeness, without additional consideration, on, in and in connection with technical, marketing or disclosure materials, or any combination thereof, published by or for the Company or any of its
Affiliates. 
 (f) Conflicting Obligations and Rights. The Executive represents and warrants that she is not subject to
agreement or contractual commitment that prevents or in any way limits her ability to fully discharge her duties and responsibilities hereunder and that she is not in possession of any confidential or proprietary information of another Person that
will be used in connection with the discharge of her duties hereunder. The Executive acknowledges and agrees that the accuracy of the foregoing representation and warranty is a condition precedent to the enforceability of the Company’s
obligations hereunder. 
 (g) Enforcement. The Executive acknowledges that in the event of any breach of this
Section 7, the business interests of the Company and its Affiliates will be irreparably injured, the full extent of the damages to the Company and its Affiliates will be impossible to ascertain, monetary damages will not be an adequate
remedy for the Company and its Affiliates, and the Company will be 
  

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entitled to enforce this Agreement by a temporary, preliminary and/or permanent injunction or other equitable relief, without the necessity of posting bond or security, which the Executive
expressly waives. The Executive understands that the Company may waive some of the requirements expressed in this Agreement, but that such a waiver to be effective must be made in writing and should not in any way be deemed a waiver of the
Company’s right to enforce any other requirements or provisions of this Agreement. The Executive agrees that each of the Executive’s obligations specified in this Agreement is a separate and independent covenant and that the
unenforceability of any of them shall not preclude the enforcement of any other covenants in this Agreement. 
 8.
Termination of Employment. The Executive’s employment hereunder may be terminated during the Employment Period under the following circumstances: 

(a) Death. The Executive’s employment hereunder shall terminate upon the Executive’s death; 

(b) By the Company. The Company may terminate the Executive’s employment for: 

(i) Disability. If the Executive shall have been substantially unable to perform the Executive’s material duties hereunder
by reason of illness, physical or mental disability or other similar incapacity, which inability shall continue for 90 consecutive days or 180 non-consecutive days in any 24-month period and which qualified Executive for long term disability
coverage under applicable Company disability plans (a “Disability”); 
 (ii) Cause. The Company may
terminate the Executive’s employment for Cause as defined herein; or 
 (iii) Without Cause. The Company may
terminate the Executive’s employment without Cause at any time upon not less than 90 days notice to the Executive. The Company’s Non-Renewal of the Initial Term or the Extended Term shall constitute a termination of the Executive’s
employment by the Company without Cause, and the Company’s notice of Non-Renewal pursuant to Section 2 hereof shall constitute notice of termination without Cause for purposes of this Section 8(b)(iii). Notwithstanding
the foregoing, the Company’s Non-Renewal of the Initial Term or the Extended Term shall constitute a termination of the Executive’s employment by the Company without Cause only if the Company determines that a “separation from
service” within the meaning of Treasury Regulation 1.409A-1(h) has occurred. 
 (c) By the Executive. The Executive
may terminate her employment with or without Good Reason upon not less than 90 days notice to the Company. The Executive’s Non-Renewal of the Initial Term or the Extended Term shall constitute a termination of employment by the Executive
without Good Reason, and the Executive’s notice of Non-Renewal pursuant to Section 2 hereof shall constitute notice of the Executive’s termination of her employment for purposes of this Section 8(c). During this
90-day notice period, the Company may, without breaching this Agreement or constituting Good Reason or a Termination without Cause, relieve the Executive of her positions, titles, duties and responsibilities and direct the Executive to cease
appearing on Company property. Notwithstanding the foregoing, the Executive’s Non-Renewal of the Initial Term or the Extended Term shall constitute a termination of employment by the Executive without Good Reason only if the Company determines
that a “separation from service” within the meaning of Treasury Regulation 1.409A-1(h) has occurred. 
  

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 (d) Notice of Termination. Any termination of the Employment Period, other than
pursuant to the Executive’s death, shall be effected by delivery to the other party of a notice of termination (a “Notice of Termination”) from the party terminating the Employment Period. 

(e) Other Resignations. Upon any termination of the Executive’s employment, she shall automatically resign, and shall
automatically be deemed to have resigned, from all positions with the Company and its Affiliates. 
 9. Compensation Upon
Termination. 
 (a) Death. If the Executive’s employment is terminated during the Employment Period as a result
of the Executive’s death, this Agreement and the Employment Period shall terminate without further notice or any action required by the Company or the Executive’s legal representatives. Upon the Executive’s death, the Company shall
pay or provide the following: (i) the Company shall pay to the Executive’s legal representative or estate, as applicable, the Executive’s Base Salary due through the Executive’s Date of Termination; (ii) the Company shall
pay to the Executive’s legal representative or estate, as applicable, a pro rated portion (based on the percentage of the Company’s fiscal year preceding the Executive’s Date of Termination) of the amount equal to the average of
(x) the annual incentive bonus earned by the Executive for the fiscal year immediately preceding the fiscal year that contains the Date of Termination and (y) the annual incentive bonus the Executive would have received for the fiscal year
that contains the Date of Termination if her employment had not been terminated, as determined by the Board based on the Company’s performance to the Date of Termination extrapolated through the end of such fiscal year; and (iii) the
Company shall pay, at the time when such payments are due, to the Executive’s legal representative or estate, as applicable, the Accrued Benefits and the rights of the Executive’s legal representative or estate with respect to any equity
or equity-related awards shall be governed by the applicable terms of the related plan or award agreement. The total amount of the pro rated bonus described in clause (ii) of the preceding sentence will be paid in a lump sum at the time the
Company pays annual incentive bonuses under the Annual Plan to its similarly situated active employees for the fiscal year that contains the Date of Termination. Except as set forth herein, the Company shall have no further obligation to the
Executive under this Agreement. 
 (b) Disability. If the Company terminates the Executive’s employment during the
Employment Period because of the Executive’s Disability pursuant to Section 8(b)(i), (i) the Company shall pay to the Executive or the Executive’s legal representative, as applicable, the Executive’s Base Salary due
through the Executive’s Date of Termination, (ii) the Company shall pay to the Executive or the Executive’s legal representative, as applicable, a pro rated portion (based on the percentage of the Company’s fiscal year preceding
the Executive’s Date of Termination) of the amount equal to the average of (x) the annual incentive bonus earned by the Executive for the fiscal year immediately preceding the fiscal year that contains the Date of Termination and
(y) the annual incentive bonus the Executive would have received for the fiscal year that contains the Date of Termination if her employment had not been terminated, as determined by the Board based on the Company’s performance to the Date
of Termination extrapolated through the end of such fiscal year; and (iii) the Company shall pay to the Executive or the Executive’s legal representative, as applicable, at the time when such payments are due, the Accrued Benefits and the
rights of the Executive or the Executive’s legal representative, as applicable, with respect to any equity or equity-related awards shall be governed by the applicable terms of the related plan or award agreement. The total amount of the pro
rated bonus described in clause (ii) of the preceding sentence will be paid in a lump sum at the time the Company pays annual incentive bonuses under the Annual Plan to its similarly situated active employees for the fiscal year that contains
the Date of Termination. Except as set forth herein, the Company shall have no further obligation to the Executive under this Agreement. 
  

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 (c) Termination by the Company for Cause or Voluntarily by the Executive. If, during
the Employment Period, the Company terminates the Executive’s employment for Cause or the Executive voluntarily terminates her employment other than for Good Reason, the Company shall pay to the Executive the Executive’s Base Salary due
through the Date of Termination and all Accrued Benefits, if any, to which the Executive is entitled as of the Date of Termination, at the time such payments are due, and the Executive’s rights with respect to any equity or equity-related
awards shall be governed by the applicable terms of the related plan or award agreement. 
 (d) Termination by the Company
Other Than For Cause, Death or Disability, or by the Executive for Good Reason, Prior to a Change of Control. If the Company terminates the Executive’s employment during the Employment Period other than for Cause and other than due to the
Executive’s death or Disability, or if Executive terminates the Executive’s employment during the Employment Period for Good Reason, in either case at any time other than during the two-year period following a Change of Control, then

 (i) Executive shall be entitled to an amount equal to 1.5 times the Executive’s Base Salary in effect at
the Date of Termination (the “Severance Benefit”). The total amount of the Severance Benefit will be paid in equal, ratable installments in accordance with the Company’s regular payroll policies over the course of the
Non-Compete Period; 
 (ii) Executive shall be entitled to a pro rated portion (based on the percentage of the
Company’s fiscal year preceding the Executive’s Date of Termination) of the annual incentive bonus the Executive would have received for the fiscal year that contains the Date of Termination if her employment had not been terminated, as
determined by the Board based on the Company’s performance to the Date of Termination extrapolated through the end of such fiscal year. The total amount of the pro rated bonus described in the preceding sentence will be paid in a lump sum at
the time the Company pays annual incentive bonuses under the Annual Plan for such fiscal year to its similarly situated active employees; 

(iii) If the Executive is eligible for and elects continuation coverage pursuant to COBRA (with respect to the Executive
and/or the Executive’s dependents who are eligible to elect COBRA under the Company’s group health plan(s) as a direct result of the Executive’s termination of employment), the Company shall pay (as of the first of each applicable
month) the premiums for such coverage (or reimburse the Executive for such premiums) until the earlier to occur of (x) the end of the Non-Compete Period or (y) the date the Executive becomes eligible for coverage under another group health
plan; 
 (iv) The Company shall pay to the Executive, at the time when such payments are due, the Accrued
Benefits; and 
 (v) The rights of the Executive with respect to any equity or equity-related awards shall be
governed by the applicable terms of the related plan or award agreement. 
 (e) Termination by the Company Other Than For
Cause, Death or Disability, or by the Executive for Good Reason, Following a Change of Control. If the Company terminates the Executive’s employment during the Employment Period other than for Cause and other than due to the
Executive’s death or Disability, or if Executive terminates the Executive’s employment during the Employment Period for Good Reason, in either case within the two-year period following a Change of Control, then: 

(i) Executive shall be entitled to an amount equal to (A) 2 times the Executive’s Base Salary in effect at the
Date of Termination plus (B) 2 times the amount equal to the average of (x) the annual incentive bonus earned by the Executive for the fiscal year immediately preceding the fiscal year that contains the Date of Termination and (y) the
annual incentive bonus the Executive would have received for the fiscal year that contains the Date of Termination if her employment had not been terminated, as determined by the Board based on the Company’s performance to the Date of
Termination extrapolated through the end of such fiscal year (the “Change of Control Severance Benefit”). The total amount of the Change of Control Severance Benefit will be paid in a lump sum as soon as administratively practicable
following the Date of Termination; 
  

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 (ii) Executive shall be entitled to a pro rated portion (based on the
percentage of the Company’s fiscal year preceding the Executive’s Date of Termination) of the Executive’s target annual incentive bonus under the Annual Plan for the fiscal year that contains the Date of Termination. The total amount
of the pro rated bonus described in the preceding sentence will be paid in a lump sum at the time the Company pays annual incentive bonuses under the Annual Plan for such fiscal year to its similarly situated active employees; 

(iii) If the Executive is eligible for and elects continuation coverage pursuant to COBRA (with respect to the Executive
and/or the Executive’s dependents who are eligible to elect COBRA under the Company’s group health plan(s) as a direct result of the Executive’s termination of employment), the Company shall pay (as of the first of each applicable
month) the premiums for such coverage (or reimburse the Executive for such premiums) until the earlier to occur of (x) the end of the Non-Compete Period or (y) the date the Executive becomes eligible for coverage under another group health
plan; 
 (iv) The Company shall pay to the Executive, at the time when such payments are due, the Accrued
Benefits; and 
 (v) The rights of the Executive with respect to any equity or equity-related awards shall be
governed by the applicable terms of the related plan or award agreement. 
 (f) Delay in Payments. Notwithstanding the
preceding provisions or any provision in this Agreement to the contrary, all payments pursuant hereto (if any) are intended to comply with Code Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the
guidance thereunder, and this Agreement shall be construed accordingly. To the extent that compliance with Section 409A(a)(2)(B) would require any payment otherwise provided for by this Agreement to be delayed for six months, such payment shall
be made as soon as administratively practicable after the end of such six-month period. 
 (g) Liquidated Damages. The
parties acknowledge and agree that damages which will result to the Executive for termination by the Company of the Executive’s employment shall be extremely difficult or impossible to establish or prove, and agree that the amounts payable to
the Executive (if any) under Section 9(d) or 9(e), as applicable (the “Severance Payments”) shall constitute liquidated damages for any such termination. 

(h) Full Discharge of Company Obligations. In the event of any breach of this Agreement by the Company, the Executive shall be
entitled to the lesser of (i) the amount of damages incurred by the Executive as a direct result of each breach and (ii) the Severance Payments the Executive would be entitled to under Section 9(d) if her employment were
terminated thereunder. The amounts 
  

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payable to Executive following termination of the Employment Period or upon any actual or constructive termination of the Executive’s employment pursuant to this Section 9 shall be in
full and complete satisfaction of Executive’s rights under this Agreement and any other claims she may have in respect of her employment by the Company or any of its Affiliates, and Executive acknowledges that such amounts are fair and
reasonable, and her sole and exclusive remedy, in lieu of all other remedies at law or in equity, with respect to the termination of her employment hereunder. Payment of any Severance Payment pursuant to Section 9(d) or 9(e), as
applicable, shall be conditioned upon (x) Executive’s execution and non-revocation of a release in a form substantively identical in terms to the form attached as Exhibit A and (y) Executive’s compliance with the
provisions set forth in Section 7 hereof. 
 (i) Section 409A. To the extent the Executive would be
subject to the additional 20% tax imposed on certain deferred compensation arrangements pursuant to Section 409A of the Code as a result of any provision of this Agreement, such provision shall be deemed amended to the minimum extent necessary
to avoid application of such tax and the parties shall promptly execute any amendment reasonably necessary to implement this Section 9(i). 

10. Notices. All notices, demands, requests, or other communications which may be or are required to be given or made by any party
to any other party pursuant to this Agreement shall be in writing and shall be hand delivered, mailed by first-class registered or certified mail, return receipt requested, postage prepaid, delivered by overnight air courier, or transmitted by
facsimile transmission addressed as follows: 
  

	 	(i)	If to the Company, to: 

 Biomet,
Inc. 
 56 E. Bell Drive 

P.O. Box 587 

Warsaw, Indiana 46581-0587 

Attn: Chief Legal Officer 

Facsimile Number: (574) 372-1960 
  

	 	(ii)	If to the Executive, to the address last shown on the Company’s Records. 

Each party may designate by notice in writing a new address to which any notice, demand, request or communication may thereafter be so
given, served or sent. Each notice, demand, request, or communication that shall be given or made in the manner described above shall be deemed sufficiently given or made for all purposes at such time as it is delivered to the addressee (with the
return receipt, the delivery receipt, confirmation of facsimile transmission or the affidavit of messenger being deemed conclusive but not exclusive evidence of such delivery) or at such time as delivery is refused by the addressee upon
presentation. 
 11. Severability. The invalidity or unenforceability of any one or more provisions of this Agreement
shall not affect the validity or enforceability of the other provisions of this Agreement, which shall remain in full force and effect. 

12. Effect on Other Agreements. The provisions of this Agreement shall supersede the terms of any plan, policy, agreement, award
or other arrangement of the Company (whether entered into before or after the Effective Date) to the extent application of the terms of this Agreement is more favorable to the Executive. 

 

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 13. Survival. It is the express intention and agreement of the parties hereto that
the provisions of Sections 7, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 21 and 22 hereof shall survive the termination of employment of the Executive.

 14. Assignment. The rights and obligations of the parties to this Agreement shall not be assignable or delegable,
except that (i) in the event of the Executive’s death, the personal representative or legatees or distributees of the Executive’s estate, as the case may be, shall have the right to receive any amount owing and unpaid to the Executive
hereunder and (ii) the rights and obligations of the Company hereunder shall be assignable and delegable in connection with any subsequent merger, consolidation, sale of all or substantially all of the assets or equity interests of the Company
or similar transaction involving the Company or a successor corporation. The Company shall require any successor to the Company to expressly assume 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. 
 15. Binding Effect. Subject to any provisions hereof
restricting assignment, this Agreement shall be binding upon the parties hereto and shall inure to the benefit of the parties and their respective heirs, devisees, executors, administrators, legal representatives, successors and assigns. 

16. Amendment; Waiver. This Agreement shall not be amended, altered or modified except by an instrument in writing duly executed
by the party against whom enforcement is sought. Neither the waiver by either of the parties hereto of a breach of or a default under any of the provisions of this Agreement, nor the failure of either of the parties, on one or more occasions, to
enforce any of the provisions of this Agreement or to exercise any right or privilege hereunder, shall thereafter be construed as a waiver of any subsequent breach or default of a similar nature, or as a waiver of any such provisions, rights or
privileges hereunder. 
 17. Headings. Section and subsection headings contained in this Agreement are inserted for
convenience of reference only, shall not be deemed to be a part of this Agreement for any purpose, and shall not in any way define or affect the meaning, construction or scope of any of the provisions hereof. 

18. Governing Law. This Agreement, the rights and obligations of the parties hereto, and any claims or disputes relating thereto,
shall be governed by and construed in accordance with the laws of the State of Indiana (but not including any choice of law rule thereof that would cause the laws of another jurisdiction to apply). Except as otherwise provided in
Section 7(g), each of the parties agrees that any dispute between the parties shall be resolved only in the courts of the State of Indiana or the United States District Court for the Northern District of Indiana and the appellate courts
having jurisdiction of appeals in such courts. In that context, and without limiting the generality of the foregoing (but subject to Section 7(g)), each of the parties hereto irrevocably and unconditionally (a) submits for himself
or itself in any proceeding relating to this Agreement or Executive’s employment by the Company or any of its Affiliates, or for the recognition and enforcement of any judgment in respect thereof (a “Proceeding”), to the
exclusive jurisdiction of the courts of the State of Indiana, the court of the United States of America for the Northern District of Indiana, and appellate courts having jurisdiction of appeals from any of the foregoing, and agrees that all claims
in respect of any such Proceeding shall be heard and determined in such Indiana State court or, to the extent permitted by law, in such federal court; (b) consents that any such Proceeding may and shall be brought in such courts and waives any
objection that she or it may now or thereafter have to the venue or jurisdiction of any such Proceeding in any such court or that such Proceeding was brought in an inconvenient court and agrees not to plead or claim the same; (c) waives all
right to trial by jury in any Proceeding (whether based on contract, tort or otherwise) arising out of or relating to this Agreement or Executive’s employment by the Company or any of its Affiliates, or her or its, performance under or the
enforcement of this Agreement; (d) agrees that service of process in any 
  

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such Proceeding may be effected by mailing a copy of such process by registered or certified mail (or any substantially similar form of mail), postage prepaid, to such party at her, or its,
address as provided in Section 10; and (e) agrees that nothing in this Agreement shall affect the right to effect service of process in any other manner permitted by the laws of the State of Indiana. 

19. Entire Agreement. This Agreement constitutes the entire agreement between the parties respecting the employment of the
Executive and supersedes all other agreements and understandings. 
 20. Counterparts. This Agreement may be executed in
two counterparts, each of which shall be an original and all of which shall be deemed to constitute one and the same instrument. 

21. Withholding. The Company may withhold from any benefit payment under this Agreement all federal, state, city or other taxes as
shall be required pursuant to any law or governmental regulation or ruling. 
 22. Definitions. 

“Accrued Benefits” means (i)(A) any vested compensation deferred by the Executive prior to the Date of Termination and
not paid by the Company; (B) any amounts or benefits owing to the Executive or to the Executive’s beneficiaries under the then applicable benefit plans of the Company; and (C) any amounts owing to the Executive for reimbursement of
expenses properly incurred by the Executive prior to the Date of Termination and which are reimbursable in accordance with Section 6; and (ii) if the Executive’s employment is terminated during the Employment Period
(A) other than by the Company for Cause and other than by the Executive without Good Reason and (B) prior to the Company’s payment to her of her annual incentive bonus, if any, under the Annual Plan for the fiscal year immediately
preceding the fiscal year that contains the Date of Termination, the amount of such annual incentive bonus. 

“Affiliate” means, with respect to any entity, any other corporation, organization, association, partnership, sole
proprietorship or other type of entity, whether incorporated or unincorporated, directly or indirectly controlling or controlled by or under direct or indirect common control with such entity, provided that none of the Majority
Stockholders shall be deemed to be an Affiliate of the Company for purposes of this Agreement solely by reason of its ownership interest in the Company, and provided further that no company that is wholly or partially owned by any
Majority Stockholder shall be deemed to be an Affiliate of the Company solely by reason of such Majority Stockholder’s ownership interest therein. 

“Board” means the Board of Directors of the Company. 

“Cause,” when used in connection with a termination of the Executive’s employment, shall mean, unless otherwise
provided in any applicable equity award grant agreement entered into between the Company and the Executive with respect to any equity awards that may be granted to the Executive, the termination of the Executive’s employment with the Company
and all of its Affiliates on account of (i) a failure of the Executive to substantially perform her duties (other than as a result of physical or mental illness or injury) that has continued after the Company has provided written notice of such
failure and the Executive has not cured such failure within 30 days of the date of such written notice, provided that a failure to meet financial performance expectations shall not, by itself, constitute a failure by the Executive to substantially
perform her duties; (ii) the Executive’s willful misconduct or gross negligence; (iii) a willful or grossly negligent breach by a Executive of the Executive’s fiduciary duty or duty of loyalty to the Company or any of its
Affiliates; (iv) the commission by the Executive of any 
  

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felony or other serious crime involving moral turpitude; (v) a material breach of the Executive’s obligations under any agreement entered into between the Executive and the Company or
any of its Affiliates, which, if such breach is reasonably susceptible to cure, has continued after the Company has provided written notice of such breach and the Executive has not cured such failure within 30 days of the date of such written
notice; or (vi) a material breach of the Company’s written policies or procedures that have been communicated to the Executive and that causes material harm to the Company or its business reputation. 

“Change of Control” shall mean the occurrence of any of the following events after the Effective Date: (i) any
sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all of the assets of the LVB Acquisition, Inc. on a consolidated basis to any Person or group of related persons for purposes of
Section 13(d) of the Securities Exchange Act of 1934, as amended (a “Group”), together with any Affiliates thereof other than to a Majority Stockholder; (ii) the approval by the holders of the outstanding voting power of
LVB Acquisition, Inc. of any plan or proposal for the liquidation or dissolution of LVB Acquisition, Inc.; (iii) (A) any Person or Group (other than the Majority Stockholder) shall become the beneficial owner (within the meaning of
Section 13(d) of the Securities Exchange Act of 1934, as amended), directly or indirectly, of common stock of either the Company or LVB Acquisition, Inc. (or any intermediary entity between the Company and LVB Acquisition, Inc.) representing
more than 40% of the aggregate outstanding voting power of the Company, LVB Acquisition, Inc. or such intermediary entity, as applicable, and such Person or Group actually has the power to vote such common stock in any such election and (B) the
Majority Stockholder beneficially owns (within the meaning of Section 13(d) of the Securities Exchange Act of 1934, as amended), directly or indirectly, in the aggregate a lesser percentage of the voting power of the Company or LVB Acquisition,
Inc. (or any intermediary entity between the Company and LVB Acquisition, Inc.), as applicable, than such other Person or Group; (iv) the replacement of a majority of the Board over a two-year period from the directors who constituted the Board
at the beginning of such period, and such replacement shall not have been approved by a vote of at least a majority of the Board then still in office who either were members of such Board at the beginning of such period or whose election as a member
of such Board was previously so approved or who were nominated by, or designees of, a Majority Stockholder; (v) consummation of a merger or consolidation of the LVB Acquisition, Inc. with another entity in which holders of the common stock of
LVB Acquisition, Inc. immediately prior to the consummation of the transaction hold, directly or indirectly, immediately following the consummation of the transaction, less than 50% of the common equity interest in the surviving corporation in such
transaction and the Majority Stockholder does not hold a sufficient amount of voting power (or similar securities) to elect a majority of the surviving entity’s board of directors or (vi) a merger, recapitalization or other direct or
indirect sale by the Majority Stockholder (including through a public offering) of common stock of LVB Acquisition, Inc. that results in more than 80% of the common stock of LVB Acquisition, Inc. (or any resulting company after a merger) owned,
directly or indirectly, by the Majority Stockholder immediately following the Closing, no longer being so owned by the Majority Stockholder. For purposes of the preceding sentence, “Closing” shall mean the closing of the merger of
the Company with LVB Acquisition Merger Sub, Inc. pursuant to the Merger Agreement. 
 “Company Confidential
Information” means information known to the Executive to constitute trade secrets or proprietary information belonging to the Company or other Company confidential financial information, operating budgets, strategic plans or research
methods, personnel data, projects or plans, or non-public information regarding the Company or any Affiliate of the Company, in each case, received by the Executive in the course of her employment by the Company or in connection with her duties with
the Company. 
  

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 “Date of Termination” means (i) if the Executive’s employment is
terminated by the Executive’s death, the date of the Executive’s death; (ii) if the Executive’s employment is terminated because of the Executive’s Disability pursuant to Section 8(b)(i), 30 days after Notice of
Termination, provided that the Executive shall not have returned to the performance of the Executive’s duties on a full-time basis during such 30-day period; or (iii) if the Executive’s employment is terminated for any reason other
than the Executive’s death or Disability, the date specified in the Notice of Termination, which in the case of a termination of employment by the Company without Cause may not be less than 90 days following the date the notice is provided.

 “Extended Term” shall have the meaning set forth in Section 2. 

“Good Reason” shall mean, unless otherwise provided in any applicable equity award grant agreement entered between the
Company or LVB Acquisition, Inc. and the Executive with respect to any equity awards that may be granted to the Executive, the occurrence of the following without the Executive’s consent (i) a material diminution in the Executive’s
duties and responsibilities as of the Effective Date, other than a change in such Executive’s duties and responsibilities that results from becoming part of a larger organization following a Change in Control; (ii) a decrease in a
Executive’s base salary or bonus opportunity as of the Effective Date, other than a decrease in base salary or bonus opportunity that applies to a similarly situated class of employees of the Company or its Affiliates; or (iii) a
relocation of a Executive’s primary work location more than 50 miles from the Executive’s work location on the Effective Date, without the Executive’s prior written consent; provided that, within thirty days following
the occurrence of any of the events set forth herein, the Executive shall have delivered written notice to the Company of her intention to terminate her employment for Good Reason, which notice specifies in reasonable detail the circumstances
claimed to give rise to the Executive’s right to terminate employment for Good Reason, and neither the Company nor LVB Acquisition, Inc. shall not have cured such circumstances within thirty days following the Company’s receipt of such
notice. 
 “Majority Stockholder,” for purposes of this Agreement, shall mean, collectively or individually as
the context requires, Blackstone Group, L.P., The Goldman Sachs Group, Inc., Kohlberg Kravis Roberts & Co., TPG Capital, L.P. and their respective Affiliates. 

“Non-Compete Period” means the period commencing on the Effective Date and ending eighteen (18) months after the
earlier of the expiration of the Employment Period or the Executive’s Date of Termination. 
 “Person”
means an individual, partnership, corporation, limited liability company, unincorporated organization, trust or joint venture, or a governmental agency or political subdivision thereof. 

*    *    *     *    * 

 

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 IN WITNESS WHEREOF, the undersigned have duly executed and delivered this Agreement, or have
caused this Agreement to be duly executed and delivered on their behalf. 
  

			
	BIOMET, INC.
		
	By:	 	 /s/ Bradley J. Tandy

	Name:	 	Bradley J. Tandy
	Title:	 	Senior Vice President,
		 	General Counsel and Secretary
	
	EXECUTIVE
	
	 /s/ Maggie Anderson

	Name:	 	Maggie Anderson

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