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+ADw-o:Author+AD4-PTISYS+ADw-/o:Author+AD4-
+ADw-o:LastAuthor+AD4-E. Russell McGregor
III+ADw-/o:LastAuthor+AD4-
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style+AD0-'font-size:10.0pt'+AD4-Purchase and Substitution
Agreement +ADw-/span+AD4APA-/h1+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-br
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PURCHASE AND SUBSTITUTION AGREEMENT (the
+IBwAPA-u+AD4-Agreement+ADw-/u+AD4gHQ-), dated March 19, 2004, is
by and among Merck KGaA, a German partnership limited by shares,
whose principal offices are located at Frankfurter Strasse 250,
64293 Darmstadt, Germany (+IBwAPA-u+AD4-MERCK+ADw-/u+AD4gHQ-),
Biomet, Inc., an Indiana corporation, whose principal offices are
located at 56 East Bell Drive, Warsaw, Indiana, 46582 USA
(+IBwAPA-u+AD4-BIOMET+ADw-/u+AD4gHQ-), BioHoldings UK Ltd., a
United Kingdom company, whose principal offices are at Waterton
Industrial Estate, Bridgend, South Glamorgan CF31 3XA, Wales,
United Kingdom (+IBwAPA-u+AD4-BIOHOLDINGS+ADw-/u+AD4gHQ-), and
Biomet Europe Ltd., a Delaware (USA) corporation and wholly owned
subsidiary of BIOMET, whose principal offices are located at 1105
North Market Street, Suite 1300, Wilmington, Delaware, 19801, USA
(+IBw-BEL+IB0-).+ADw-/span+AD4APA-/p+AD4- +ADw-h1 align+AD0-center
style+AD0-'text-align:center'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-WITNESSETH
+ADw-/span+AD4APA-/h1+AD4- +ADw-p+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4AJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs-WHEREAS,
MERCK and BIOMET are parties to that certain Joint Venture
Agreement, dated November 24, 1997, as amended (the
+IBwAPA-u+AD4-JVA+ADw-/u+AD4gHQ-), which established a joint
venture for the purposes of developing, manufacturing and selling
biomaterials and orthopedic devices in
Europe+ADsAPA-/span+AD4APA-/p+AD4- +ADw-p+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4AJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs-WHEREAS,
pursuant to the JVA, MERCK and BIOMET made certain contributions to
BioMer C.V., a partnership organized and existing under the laws of
The Netherlands (+IBwAPA-u+AD4-PARTNERSHIP+ADw-/u+AD4gHQ-), which
was formed pursuant to the JVA and that certain Partnership
Agreement (+IBw-O+ADw-i+AD4-vereenkomst van Commanditaire
Vennootschap+IB0-)+ADw-/i+AD4- dated March 16, 1998 (the
+ADw-u+AD4gHA-Partnership Agreement+ADw-/u+AD4gHQ-), whereby BEL
became the general partner (+ADw-i+AD4-Beherend
Vennoot+ADw-/i+AD4-) of the PARTNERSHIP, and Merck became the
limited partner (+ADw-i+AD4-Commanditaire Vennoot+ADw-/i+AD4-) of
the PARTNERSHIP+ADsAPA-/span+AD4APA-/p+AD4- +ADw-p+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4AJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs-WHEREAS,
BIOHOLDINGS, a wholly owned indirect subsidiary of BEL, desires to
purchase Merck+IBk-s entire interest in the PARTNERSHIP (the
+IBwAPA-u+AD4-Merck Interest+ADw-/u+AD4gHQ-), represented by the
capital interest defined in the PARTNERSHIP+IBk-s balance sheet at
the end of the month in which Closing, as that term is defined
below, occurs which capital interest consists of the line items:
MERCK+IBk-s Contributed Capital, MERCK+IBk-s share in Retained
Earnings and MERCK+IBk-s share in the Accumulated other
Comprehensive Income (+IBwAPA-u+AD4-Figures+ADw-/u+AD4gHQ-)
irrespective of the actual Figures at the end of the month in which
Closing occurs, and MERCK desires to sell the Merck Interest to
BIOHOLDINGS, pursuant to the terms and conditions set forth in this
Agreement+ADs- and+ADw-/span+AD4APA-/p+AD4- +ADw-p+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4AJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs-WHEREAS,
in connection with the sale of the Merck Interest to BIOHOLDINGS by
MERCK, MERCK and BIOMET mutually agree to terminate the JVA and
release each other from all obligations thereunder, except as
specifically provided herein.+ADw-/span+AD4APA-/p+AD4-
+ADw-p+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4AJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs-WHEREAS,
the Board of Directors of the PARTNERSHIP has reviewed a draft of
this Purchase and Substitution Agreement and has found that draft,
in particular Section 10 hereof, satisfactory and in accordance
with Article 14.3 of the Partnership
Agreement.+ADw-/span+AD4APA-/p+AD4- +ADw-p+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4AJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs-NOW,
THEREFORE, in consideration of the mutual promises and covenants
contained herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby confirmed, MERCK,
BIOMET, BEL and BIOHOLDINGS intending to be legally bound hereby,
agree as follows:+ADw-/span+AD4APA-/p+AD4- +ADw-h1+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-1+ACY-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs-Sale,
Purchase and Transfer of Interest+ADw-/span+AD4APA-/h1+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
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style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-1.1+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-95+ACUAIg- valign+AD0-top
style+AD0-'width:95.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-At the Closing (as defined below),
BIOHOLDINGS will purchase from MERCK, and MERCK will sell and
transfer to BIOHOLDINGS the Merck Interest, free and clear of all
options, pledges, mortgages, charges, security interests, liens,
third party rights or other encumbrances
(+IBwAPA-u+AD4-Encumbrances+ADw-/u+AD4gHQ-), on the terms and
subject to the conditions set forth
herein.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-br
style+AD0-'mso-special-character:line-break'+AD4- +ADwAIQBb-if
+ACE-supportLineBreakNewLine+AF0APgA8-br
style+AD0-'mso-special-character:line-break'+AD4-
+ADwAIQBb-endif+AF0APgA8-/p+AD4- +ADw-table
class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-1.2+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-95+ACUAIg- valign+AD0-top
style+AD0-'width:95.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-With effect from and subject to
Closing (as defined below), MERCK hereby, as far as necessary,
assigns, transfers, delivers and conveys all of its rights and
obligations under the Partnership Agreement free from all
Encumbrances to BIOHOLDINGS who hereby accepts the same. MERCK and
BEL, in their capacity of sole partners of the PARTNERSHIP, hereby
expressly consent to such assignment, transfer, delivery and
conveyance.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-br
style+AD0-'mso-special-character:line-break'+AD4- +ADwAIQBb-if
+ACE-supportLineBreakNewLine+AF0APgA8-br
style+AD0-'mso-special-character:line-break'+AD4-
+ADwAIQBb-endif+AF0APgA8-/p+AD4- +ADw-table
class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-1.3+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-95+ACUAIg- valign+AD0-top
style+AD0-'width:95.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-MERCK hereby grants an irrevocable
Power of Attorney to BIOHOLDINGS, with the right of substitution,
to effect all formalities and transactions which may otherwise be
required for the effectuation of the assignment, transfer, delivery
and conveyance mentioned above under Section 1.2 and furthermore to
do all things BIOHOLDINGS may deem necessary or conducive in view
of the further effectuation hereof.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-br
style+AD0-'mso-special-character:line-break'+AD4- +ADwAIQBb-if
+ACE-supportLineBreakNewLine+AF0APgA8-br
style+AD0-'mso-special-character:line-break'+AD4-
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style+AD0-'font-size:10.0pt'+AD4-2+ACY-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs-Purchase
Price+ADw-/span+AD4APA-/h1+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.1+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-95+ACUAIg- valign+AD0-top
style+AD0-'width:95.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-The purchase price for the Merck
Interest (the +IBwAPA-u+AD4-Purchase Price+ADw-/u+AD4gHQ-) shall be
the fixed amount of Three Hundred Million US Dollars (US
+ACQ-300,000,000), without any adjustment. The Purchase Price shall
be payable in full by wire transfer of immediately available funds
to an account designated by MERCK within three (3) business days of
the later of (a) the receipt of a clearance of the transactions
contemplated by this Agreement from the German Federal Cartel
Office, or (b) the date hereof.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
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+ADwAIQBb-endif+AF0APgA8-/p+AD4- +ADw-table
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style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.2+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-95+ACUAIg- valign+AD0-top
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+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-The parties hereto mutually agree
that the Purchase Price of US +ACQ-300,000,000 for MERCK+IBk-s
50+ACU- limited partnership interest in the PARTNERSHIP shall be
valued as follows: (a) an initial amount of U.S. +ACQ-178,500
representing 50+ACU- of the value of goodwill inherent in the
PARTNERSHIP+ADs- (b) second, in respect of 50+ACU- of the remaining
business of the PARTNERSHIP, an amount equal to its net book value
as of the Closing Date+ADs- and (c) the remaining balance of the
Purchase Price represents the value of 50+ACU- of the share
interest in BIOMET MERCK BV held by the PARTNERSHIP as of the
Closing Date. The value under this Section 2.2(a) above takes into
account the supportive nature of the activities conducted at the
PARTNERSHIP level.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
class+AD0-MsoNormal style+AD0-'margin-bottom:12.0pt'+AD4APA-br+AD4-
+ADw-br style+AD0-'mso-special-character:line-break'+AD4-
+ADwAIQBb-if +ACE-supportLineBreakNewLine+AF0APgA8-br
style+AD0-'mso-special-character:line-break'+AD4-
+ADwAIQBb-endif+AF0APgA8-/p+AD4- +ADw-p align+AD0-center
style+AD0-'text-align:center'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4-2+ADw-/span+AD4APA-/p+AD4-
+ADw-h1+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-3+ACY-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs-Closing
and Deliveries+ADw-/span+AD4APA-/h1+AD4- +ADw-table
class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-3.1+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-95+ACUAIg- valign+AD0-top
style+AD0-'width:95.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-The closing of the transactions
contemplated hereunder (the +IBwAPA-u+AD4-Closing+ADw-/u+AD4gHQ-)
shall take place upon the later to occur of (a) March 19, 2004, or
(b) the date on which the conditions to Closing set forth in
+ADw-u+AD4-Section 4+ADw-/u+AD4- below have been met, or any other
date as may be agreed upon in writing by the parties hereto
provided, however, that such date is not earlier than the date
specified under subsection (b) above (the +IBwAPA-u+AD4-Closing
Date+ADw-/u+AD4gHQ-).+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-br
style+AD0-'mso-special-character:line-break'+AD4- +ADwAIQBb-if
+ACE-supportLineBreakNewLine+AF0APgA8-br
style+AD0-'mso-special-character:line-break'+AD4-
+ADwAIQBb-endif+AF0APgA8-/p+AD4- +ADw-table
class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-3.2+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-95+ACUAIg- valign+AD0-top
style+AD0-'width:95.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-MERCK shall deliver to BIOHOLDINGS
at the Closing letters of resignation from the Board of Directors,
effective as of the Closing Date, of all current directors on the
Board of Directors of the PARTNERSHIP nominated by MERCK ( Dr.
Michael Becker and Dr. Axel von Wietersheim) pursuant to Sections
9.1, 9.2 and 9.6 of the JVA, in which such directors waive any
right for compensation for the resignation and any other liability
of the PARTNERSHIP and JV ENTITY (as defined in the JVA)
vis-+AOA--vis such director+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-br
style+AD0-'mso-special-character:line-break'+AD4- +ADwAIQBb-if
+ACE-supportLineBreakNewLine+AF0APgA8-br
style+AD0-'mso-special-character:line-break'+AD4-
+ADwAIQBb-endif+AF0APgA8-/p+AD4- +ADw-table
class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-3.3+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-95+ACUAIg- valign+AD0-top
style+AD0-'width:95.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-BIOHOLDINGS shall deliver to MERCK
the Purchase Price in accordance with Section 2.1 hereof.
+ADw-/span+AD4APA-/p+AD4- +ADw-/td+AD4- +ADw-/tr+AD4-
+ADw-/table+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-br
style+AD0-'mso-special-character:line-break'+AD4- +ADwAIQBb-if
+ACE-supportLineBreakNewLine+AF0APgA8-br
style+AD0-'mso-special-character:line-break'+AD4-
+ADwAIQBb-endif+AF0APgA8-/p+AD4- +ADw-h1+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-4+ACY-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs-Conditions
to Closing+ADw-/span+AD4APA-/h1+AD4- +ADw-table
class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/td+AD4-
+ADw-td width+AD0AIg-95+ACUAIg- valign+AD0-top
style+AD0-'width:95.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-The obligations of the parties to
consummate the Closing are subject to the requirements as specified
under any Antitrust and Competition Acts (as defined below)
applicable to the execution, delivery and performance of this
Agreement and the consummation of the transactions contemplated
hereby.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-br
style+AD0-'mso-special-character:line-break'+AD4- +ADwAIQBb-if
+ACE-supportLineBreakNewLine+AF0APgA8-br
style+AD0-'mso-special-character:line-break'+AD4-
+ADwAIQBb-endif+AF0APgA8-/p+AD4- +ADw-h1+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-5+ACY-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs-Representations
and Warranties +ADw-/span+AD4APA-/h1+AD4- +ADw-table
class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-5.1 +ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-95+ACUAIg- valign+AD0-top
style+AD0-'width:95.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-MERCK represents and warrants to
BIOMET, BEL and BIOHOLDINGS that:+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-br
style+AD0-'mso-special-character:line-break'+AD4- +ADwAIQBb-if
+ACE-supportLineBreakNewLine+AF0APgA8-br
style+AD0-'mso-special-character:line-break'+AD4-
+ADwAIQBb-endif+AF0APgA8-/p+AD4- +ADw-table
class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/td+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-td width+AD0AIg-90+ACUAIg-
valign+AD0-top style+AD0-'width:90.0+ACUAOw-padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-MERCK is duly organized, validly
existing and in good standing under the laws of
Germany.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-br
style+AD0-'mso-special-character:line-break'+AD4- +ADwAIQBb-if
+ACE-supportLineBreakNewLine+AF0APgA8-br
style+AD0-'mso-special-character:line-break'+AD4-
+ADwAIQBb-endif+AF0APgA8-/p+AD4- +ADw-table
class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/td+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-td width+AD0AIg-90+ACUAIg-
valign+AD0-top style+AD0-'width:90.0+ACUAOw-padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-MERCK has full power and authority
to execute and deliver this Agreement, and to consummate the
transactions contemplated hereby. The execution, delivery and
performance of this Agreement have been duly authorized by all
necessary partnership action by and on behalf of MERCK. This
Agreement constitutes the valid and legally binding obligation of
MERCK, enforceable in accordance with its
terms.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-br
style+AD0-'mso-special-character:line-break'+AD4- +ADwAIQBb-if
+ACE-supportLineBreakNewLine+AF0APgA8-br
style+AD0-'mso-special-character:line-break'+AD4-
+ADwAIQBb-endif+AF0APgA8-/p+AD4- +ADw-table
class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/td+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(c)+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-td width+AD0AIg-90+ACUAIg-
valign+AD0-top style+AD0-'width:90.0+ACUAOw-padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-The execution, delivery and
performance of this Agreement by MERCK will not violate any
provision of any existing law, any court order, injunction or
decree applicable to MERCK or by which MERCK may be bound, the
charter documents of MERCK or any agreement or instrument of MERCK
by which MERCK may be bound.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-br
style+AD0-'mso-special-character:line-break'+AD4- +ADwAIQBb-if
+ACE-supportLineBreakNewLine+AF0APgA8-br
style+AD0-'mso-special-character:line-break'+AD4-
+ADwAIQBb-endif+AF0APgA8-/p+AD4- +ADw-table
class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/td+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(d)+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-td width+AD0AIg-90+ACUAIg-
valign+AD0-top style+AD0-'width:90.0+ACUAOw-padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-MERCK has the full legal and
beneficial title (+ADw-i+AD4-volledig rechthebbende+ADw-/i+AD4-) to
the Merck Interest, free and clear of any Encumbrances. The Merck
Interest represents the entire interest in the PARTNERSHIP held by
MERCK.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p class+AD0-MsoNormal
style+AD0-'margin-bottom:12.0pt'+AD4APA-br+AD4- +ADw-br
style+AD0-'mso-special-character:line-break'+AD4- +ADwAIQBb-if
+ACE-supportLineBreakNewLine+AF0APgA8-br
style+AD0-'mso-special-character:line-break'+AD4-
+ADwAIQBb-endif+AF0APgA8-/p+AD4- +ADw-p align+AD0-center
style+AD0-'text-align:center'+AD4APA-span
style+AD0-'font-size:7.5pt'+AD4-3+ADw-/span+AD4APA-/p+AD4-
+ADw-table class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/td+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(e)+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-td width+AD0AIg-90+ACUAIg-
valign+AD0-top style+AD0-'width:90.0+ACUAOw-padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-MERCK acknowledges and agrees that
the terms and conditions of the transactions contemplated hereunder
were arrived at on the basis of arms-length negotiations between
MERCK and BIOMET, BEL and BIOHOLDINGS, that the Purchase Price
reflects the fair market value of the pro rata interest of the
PARTNERSHIP+IBk-s subsidiaries, and that it has not withheld from
BIOMET any material information with respect to the properties,
operations, assets and rights of the PARTNERSHIP and its
subsidiaries.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-br
style+AD0-'mso-special-character:line-break'+AD4- +ADwAIQBb-if
+ACE-supportLineBreakNewLine+AF0APgA8-br
style+AD0-'mso-special-character:line-break'+AD4-
+ADwAIQBb-endif+AF0APgA8-/p+AD4- +ADw-table
class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/td+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
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style+AD0-'font-size:10.0pt'+AD4-MERCK represents and warrants that
there are no pending claims made by it pursuant to Section 17 of
the JVA.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
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0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-MERCK is not making any
representations or warranties of any nature, express or implied,
concerning the Merck Interest or the PARTNERSHIP, except as set
forth herein.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
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cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
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style+AD0-'font-size:10.0pt'+AD4-BIOMET, BEL and BIOHOLDINGS
jointly and severally represent and warrant to MERCK
that:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-br
style+AD0-'mso-special-character:line-break'+AD4- +ADwAIQBb-if
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style+AD0-'mso-special-character:line-break'+AD4-
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class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
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style+AD0-'font-size:10.0pt'+AD4-BIOMET is a corporation duly
organized and validly existing under the laws of the State of
Indiana for which the most recent required biennial report has been
filed with the Secretary of State of Indiana and no articles of
dissolution have been filed with the Secretary of State of
Indiana.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
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style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
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style+AD0-'font-size:10.0pt'+AD4-BEL is duly organized, validly
existing and in good standing under the laws of Delaware,
USA.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-br
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style+AD0-'mso-special-character:line-break'+AD4-
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cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
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style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/td+AD4-
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style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4-+ADw-span
style+AD0-'font-size:10.0pt'+AD4-(c)+ADw-/span+AD4APA-/p+AD4-
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0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-BIOHOLDINGS is duly organized,
validly existing and in good standing under the laws of the United
Kingdom.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-br
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cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/td+AD4-
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style+AD0-'font-size:10.0pt'+AD4-(d)+ADw-/span+AD4APA-/p+AD4-
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valign+AD0-top style+AD0-'width:90.0+ACUAOw-padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-BIOMET, BEL and BIOHOLDINGS
acknowledge and agree that the terms and conditions of the
transactions contemplated hereunder were arrived at on the basis of
arms-length negotiations between MERCK and BIOMET, BEL and
BIOHOLDINGS, that the Purchase Price reflects the fair market value
of the pro rata interest of the PARTNERSHIP+IBk-s subsidiaries, and
that they have not withheld from MERCK any material information
with respect to the properties, assets, operations and rights of
the PARTNERSHIP and its subsidiaries.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-br
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style+AD0-'mso-special-character:line-break'+AD4-
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cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
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style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/td+AD4-
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style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(e)+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-td width+AD0AIg-90+ACUAIg-
valign+AD0-top style+AD0-'width:90.0+ACUAOw-padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-BIOMET, BEL and BIOHOLDINGS each
have full power and authority to execute and deliver this
Agreement, and to consummate the transactions contemplated hereby.
The execution, delivery and performance of this Agreement have been
duly authorized by all necessary corporate action by and on behalf
of BIOMET, BEL and BIOHOLDINGS. This Agreement constitutes the
valid and legally binding obligation of BIOMET, BEL and
BIOHOLDINGS, enforceable in accordance with its
terms.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-br
style+AD0-'mso-special-character:line-break'+AD4- +ADwAIQBb-if
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cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
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style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/td+AD4-
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style+AD0-'font-size:10.0pt'+AD4-(f)+ADw-/span+AD4APA-/p+AD4-
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valign+AD0-top style+AD0-'width:90.0+ACUAOw-padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-BIOMET represents and warrants
there are no pending claims made by it pursuant to Section 17 of
the JVA.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p class+AD0-MsoNormal
style+AD0-'margin-bottom:12.0pt'+AD4APA-br+AD4- +ADw-br
style+AD0-'mso-special-character:line-break'+AD4- +ADwAIQBb-if
+ACE-supportLineBreakNewLine+AF0APgA8-br
style+AD0-'mso-special-character:line-break'+AD4-
+ADwAIQBb-endif+AF0APgA8-/p+AD4- +ADw-p align+AD0-center
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style+AD0-'font-size:7.5pt'+AD4-4+ADw-/span+AD4APA-/p+AD4-
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cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/td+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(g)+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-td width+AD0AIg-90+ACUAIg-
valign+AD0-top style+AD0-'width:90.0+ACUAOw-padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-The execution, delivery and
performance of this Agreement by BIOMET, BEL or BIOHOLDINGS will
not violate any provision of any existing law, any court order,
injunction or decree applicable to BIOMET, BEL and BIOHOLDINGS or
by which any of them may be bound, their respective charter
documents or any agreement or instrument by which any of them may
be bound.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-br
style+AD0-'mso-special-character:line-break'+AD4- +ADwAIQBb-if
+ACE-supportLineBreakNewLine+AF0APgA8-br
style+AD0-'mso-special-character:line-break'+AD4-
+ADwAIQBb-endif+AF0APgA8-/p+AD4- +ADw-table
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cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
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style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/td+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(h)+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-td width+AD0AIg-90+ACUAIg-
valign+AD0-top style+AD0-'width:90.0+ACUAOw-padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Neither BIOMET nor BEL is making
any representations or warranties of any nature, express or
implied, concerning the PARTNERSHIP or their interest in the
PARTNERSHIP, except as set forth herein.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-br
style+AD0-'mso-special-character:line-break'+AD4- +ADwAIQBb-if
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style+AD0-'mso-special-character:line-break'+AD4-
+ADwAIQBb-endif+AF0APgA8-/p+AD4- +ADw-h1+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-6+ACY-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs-Termination
of the JVA+ADw-/span+AD4APA-/h1+AD4- +ADw-table
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style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-6.1+ADw-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td width+AD0AIg-95+ACUAIg- valign+AD0-top
style+AD0-'width:95.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-MERCK and BIOMET mutually agree
that (i) the parties have performed all of their material
obligations under the JVA, (ii) except as otherwise provided in
this Agreement, the parties hereby waive any and all rights they
may have under the JVA, and (iii) the JVA shall be terminated
effective as of the Closing Date and shall be of no further force
and effect as of said date, subject, however, to the continued
effectiveness of the following provisions of the JVA which the
parties hereto acknowledge and agree shall expressly survive such
termination:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-br
style+AD0-'mso-special-character:line-break'+AD4- +ADwAIQBb-if
+ACE-supportLineBreakNewLine+AF0APgA8-br
style+AD0-'mso-special-character:line-break'+AD4-
+ADwAIQBb-endif+AF0APgA8-/p+AD4- +ADw-table
class+AD0-MsoNormalTable border+AD0-0 cellspacing+AD0-0
cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/td+AD4-
+ADw-td width+AD0AIg-5+ACUAIg- valign+AD0-top
style+AD0-'width:5.0+ACUAOw-padding:0in 0in 0in 0in'+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-td width+AD0AIg-90+ACUAIg-
valign+AD0-top style+AD0-'width:90.0+ACUAOw-padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-The non-competition restrictions
contained in Section 10.1 of the JVA, the standstill restrictions
and related proxy grant contained in Section 19.14 of the JVA and
the no poaching restrictions contained in Section 10.3 of the JVA,
shall each continue in effect for a period of five (5) years
following the Closing Date+ADsA
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