<SEC-DOCUMENT>0001193125-18-291742.txt : 20181003
<SEC-HEADER>0001193125-18-291742.hdr.sgml : 20181003
<ACCEPTANCE-DATETIME>20181003140007
ACCESSION NUMBER:		0001193125-18-291742
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		15
CONFORMED PERIOD OF REPORT:	20181115
FILED AS OF DATE:		20181003
DATE AS OF CHANGE:		20181003
EFFECTIVENESS DATE:		20181003

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RESMED INC
		CENTRAL INDEX KEY:			0000943819
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				980152841
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15317
		FILM NUMBER:		181104590

	BUSINESS ADDRESS:	
		STREET 1:		9001 SPECTRUM CENTER BLVD.
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92123
		BUSINESS PHONE:		8587462400

	MAIL ADDRESS:	
		STREET 1:		9001 SPECTRUM CENTER BLVD.
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92123
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>d612931ddef14a.htm
<DESCRIPTION>DEF 14A
<TEXT>
<HTML><HEAD>
<TITLE>DEF 14A</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:ARIAL" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:ARIAL" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:18pt; font-family:ARIAL" ALIGN="center"><B>SCHEDULE 14A </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Proxy Statement Pursuant to Section&nbsp;14(a) of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Filed&nbsp;by&nbsp;the&nbsp;Registrant&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family:Times New Roman">&#9746;</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Filed&nbsp;by&nbsp;a&nbsp;Party&nbsp;other&nbsp;than&nbsp;the&nbsp;Registrant&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="font-family:Times New Roman">&#9744;</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Check the appropriate box: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="46%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT STYLE="font-family:Times New Roman">&#9744;</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Preliminary&nbsp;Proxy&nbsp;Statement</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B></B><FONT STYLE="font-family:Times New Roman">&#9744;</FONT><B></B><B></B></TD>
<TD VALIGN="bottom" ROWSPAN="4">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ROWSPAN="4"><B>Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT STYLE="font-family:Times New Roman">&#9746;</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Definitive Proxy Statement</TD>
<TD VALIGN="bottom" ROWSPAN="3">&nbsp;&nbsp;</TD>
<TD ROWSPAN="3" VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT STYLE="font-family:Times New Roman">&#9744;</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Definitive Additional Materials</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT STYLE="font-family:Times New Roman">&#9744;</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Soliciting Material Pursuant to &#167; <FONT STYLE="white-space:nowrap">240.14A-12</FONT></TD></TR>
</TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g612931g0927105824058.jpg" ALT="LOGO">
 </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>(Name of Registrant as Specified in its Charter) </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>(Name of Person(s) Filing Proxy Statement, if
other than the Registrant) </B></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Payment of Filing Fee (Check the appropriate box): </P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="94%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT STYLE="font-family:Times New Roman">&#9746;</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3">No&nbsp;fee&nbsp;required.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="justify"><FONT STYLE="font-family:Times New Roman">&#9744;</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3">Fee computed on table below per Exchange Act Rules <FONT STYLE="white-space:nowrap">14a-6(i)(1)</FONT> and <FONT STYLE="white-space:nowrap">0-11.</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">(1)</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:10pt; font-family:ARIAL">Title of each class of securities to which transaction applies:</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="3" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">(2)</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:10pt; font-family:ARIAL">Aggregate number of securities to which transaction applies:</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="3" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">(3)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:10pt; font-family:ARIAL">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule
<FONT STYLE="white-space:nowrap">0-11</FONT> (Set forth the amount on which the filing fee is calculated and state how it was determined):</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="3" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">(4)</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:10pt; font-family:ARIAL">Proposed maximum aggregate value of transaction:</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="3" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">(5)</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:10pt; font-family:ARIAL">Total fee paid:</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="3" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="justify"><FONT STYLE="font-family:Times New Roman">&#9744;</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3">Fee paid previously with preliminary materials.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT STYLE="font-family:Times New Roman">&#9744;</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3">Check box if any part of the fee is offset as provided by Exchange Act Rule <FONT STYLE="white-space:nowrap">0-11(a)(2)</FONT> and identify the filing for which the offsetting fee was paid previously. Identify the
previous filing by registration statement number, or the Form or Schedule and the date of its filing.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">(1)</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:10pt; font-family:ARIAL">Amount Previously Paid:</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="3" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">(2)</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:10pt; font-family:ARIAL">Form, Schedule or Registration Statement No.:</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="3" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">(3)</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:10pt; font-family:ARIAL">Filing Party:</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="3" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">(4)</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:10pt; font-family:ARIAL">Date Filed:</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="3" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
</TABLE>
</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="justify">


<IMG SRC="g612931g0927105824058.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:34pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Dear Stockholder, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We cordially invite you to attend the ResMed Inc. annual stockholders meeting on Thursday, November&nbsp;15, 2018, at 10:00 a.m. Australian Eastern Time
(Wednesday, November&nbsp;14, 2018, at 3:00 p.m. US Pacific Time) in ResMed&#146;s Australian corporate office located at 1 Elizabeth Macarthur Drive, Bella Vista, New South Wales 2153, Australia. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Your vote is important. We are promoting the use of the internet to provide proxy materials to stockholders, as we believe this is an efficient,
cost-effective and environmentally responsible method for facilitating our annual meeting. Please read &#147;VOTING INSTRUCTIONS AND GENERAL INFORMATION &#150;<I> Voting by Attending our Annual Meeting</I>&#148; in the proxy statement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Very truly yours, </P> <P STYLE="font-size:26pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="justify">


<IMG SRC="g612931g0927105824292.jpg" ALT="LOGO">
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<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Peter&nbsp;C.&nbsp;Farrell</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Chairman of the Board</P></TD></TR>
</TABLE>
</DIV></Center>


<p Style='page-break-before:always'>
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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="justify">


<IMG SRC="g612931g0927105824058.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:16pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#54a0ff"><B>N<SMALL>OTICE</SMALL> <SMALL>OF</SMALL> <SMALL>ANNUAL</SMALL> <SMALL>MEETING</SMALL>
<SMALL>OF</SMALL> <SMALL>STOCKHOLDERS</SMALL> <SMALL>OF</SMALL> R<SMALL>ES</SMALL>M<SMALL>ED</SMALL> I<SMALL>NC</SMALL>. </B></FONT></P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="79%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" ALIGN="right"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:7.80em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="right"><B>Date:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Thursday, November&nbsp;15, 2018, at 10:00 a.m. Australian Eastern Time</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Wednesday, November&nbsp;14, 2018, at 3:00 p.m. US Pacific Time</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" ALIGN="right"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.90em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="right"><B>Location:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">ResMed&#146;s Australian corporate office</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">1 Elizabeth Macarthur Drive</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Bella Vista, New South
Wales 2153</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Australia</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" ALIGN="right"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="right"><B>Items of business:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">1.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Elect three directors, each to serve until our 2021 annual meeting and until their successors are elected and qualified. The
nominees for election as directors at the 2018 annual meeting are Peter Farrell, Harjit Gill, and Ron Taylor.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">2.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Ratify our selection of KPMG LLP as our independent registered public accounting firm for the fiscal year ending June&nbsp;30,
2019.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">3.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Approve an amendment to the ResMed Inc. 2009 Employee Stock Purchase Plan, which increases the number of shares authorized for
issue under the plan by 2&nbsp;million shares, from 4.2&nbsp;million shares to 6.2&nbsp;million shares, and extends the term of the plan through November&nbsp;15, 2028.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">4.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Approve, on an advisory basis, the compensation paid to our named executive officers, as disclosed in this proxy statement <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">(&#147;say-on-pay&#148;).</FONT></FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">5.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Transact other business that may properly come before the meeting.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" ALIGN="right"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:4.20em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="right"><B>Record date:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">You are entitled to vote only if you were a ResMed stockholder at the close of business on September&nbsp;17, 2018, at
4:00 p.m. US Eastern Time.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" ALIGN="right"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="right"><B>Meeting&nbsp;admission:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Stockholders are cordially invited to attend the annual meeting. If you plan to attend the meeting, you will need
proof of share ownership as of 4:00 p.m. US&nbsp;Eastern Time on Tuesday, September&nbsp;17, 2018, together with photo identification. If your shares are not registered in your name, you must bring proof of share ownership (such as a recent bank or
brokerage firm account statement, together with proper identification) to be admitted to our annual meeting. Please also note that if your shares are not registered in your name and you wish to vote at our annual meeting, you must bring to our
annual meeting a legal proxy from the record holder of the shares, which is the broker or other nominee, authorizing you to vote at our annual meeting.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">If you cannot attend the meeting in person, you may vote your shares by toll-free number, by internet, or, if this
proxy statement was mailed to you, by completing and signing the accompanying proxy card and promptly returning it in the envelope provided. Please read <B>Voting instructions and general information</B> in the proxy statement.</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">By&nbsp;order&nbsp;of&nbsp;the&nbsp;board&nbsp;of&nbsp;directors,</P>
<P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom">


<IMG SRC="g612931g0927105824495.jpg" ALT="LOGO">
</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">David Pendarvis</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Secretary</P></TD></TR>
</TABLE>
</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13.5pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#54a0ff"><B><A NAME="toc"></A>T<SMALL>ABLE</SMALL> <SMALL>OF</SMALL>
C<SMALL>ONTENTS</SMALL> </B></FONT></P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="97%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><U><A HREF="#toc612931_1">Voting instructions and general information </A></U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_2">Voting instructions</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_3">General information</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><U><A HREF="#toc612931_4">Proposals</A></U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><U><A HREF="#toc612931_5">Proposal 1: Election of directors</A></U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"><B><U><A HREF="#toc612931_6">Proposal 2: Ratification of selection of KPMG LLP as our independent registered public accounting firm for fiscal year ending June&nbsp;30, 2019</A></U></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>16</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><U><A HREF="#toc612931_7">Proposal 3: Approve amendments to the ResMed Inc. 2009 Employee Stock Purchase Plan
</A></U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>17</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><U><A HREF="#toc612931_8">Proposal 4: Advisory vote to approve named executive officer
compensation</A></U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>23</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><U><A HREF="#toc612931_9">Company information</A></U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>24</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><U><A HREF="#toc612931_10">Corporate governance</A></U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>25</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_11">Board independence</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_12">Meetings and director attendance</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_13">Board oversight of risk</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_14">Board leadership structure</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_15">Committees of our board of directors</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_16">Communications with our board of directors</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_17">Code of ethics</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_18">Pledging and hedging company stock prohibited</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><U><A HREF="#toc612931_19">Director compensation &#150; 2018</A></U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>32</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_20">Fiscal year 2018 program &#150; cash</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_21">Fiscal year 2018 program &#150; equity</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_22">No changes for fiscal year 2018</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_23">Compensation philosophy</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_24">Compensation process &#150; peer group companies</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_25">Equity ownership guidelines</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_26">New directors</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_27">Executive directors</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_28">No changes for fiscal year 2019</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_29"><FONT STYLE="white-space:nowrap">Non-executive</FONT> chairman&#146;s compensation
</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_30">Fiscal year 2018 director compensation table</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><U><A HREF="#toc612931_31">Executive officers</A></U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>37</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_32">Executive officers bios</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><U><A HREF="#toc612931_33">Compensation discussion and analysis (CD&amp;A)</A></U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>40</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_34">Introduction</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_35">Overview of fiscal year 2018 &#150; executive summary</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_36">Philosophy and objectives of our executive compensation program</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_37">Compensation process</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_38">Elements of compensation</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_39">Terms of performance stock units</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_40">Terms of stock options and restricted stock units</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_41">Equity compensation award policies</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_42">Equity ownership guidelines</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_43">Change of control, termination, and retirement arrangements</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_44">Perquisites and other benefits</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_45">Deferred compensation plan</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_46">Tax considerations</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">63</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><U><A HREF="#toc612931_47">Executive compensation tables</A></U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>64</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_48">Summary compensation table</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_49">Grants of plan-based awards</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_50">Outstanding equity awards at fiscal year end</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_51">Option exercises and stock vested</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_52">Nonqualified deferred compensation</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><U><A HREF="#toc612931_53">Potential payments on termination or change of control</A></U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">71</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc612931_54"><U>Risk&nbsp;considerations&nbsp;in&nbsp;compensation&nbsp;programs</U>
</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc612931_55"><U>Chief executive officer pay ratio</U></A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc612931_56"><U>Compensation committee report</U></A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><A HREF="#toc612931_57"><U>Audit committee report</U></A></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>76</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><A HREF="#toc612931_58"><U>Audit fees</U></A></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>77</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc612931_59"><U><FONT STYLE="white-space:nowrap">Pre-approval</FONT> policy</U></A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><A HREF="#toc612931_60"><U>Common stock ownership of principal stockholders and
management</U></A></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>78</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><A HREF="#toc612931_61"><U>Equity compensation plan information</U></A></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>80</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><A HREF="#toc612931_62"><U>Section&nbsp;16(a) beneficial ownership reporting
compliance</U></A></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>81</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><A HREF="#toc612931_63"><U>Transactions with related persons</U></A></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>82</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><A HREF="#toc612931_64"><U>Transaction of other business that may properly come before the
meeting</U></A></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>83</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><A HREF="#toc612931_65"><U>Stockholder proposals for 2019 annual meeting</U></A></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>84</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc612931_66"><U>Proposals included in the proxy statement</U></A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc612931_67"><U>Proposals not included in the proxy statement</U></A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc612931_68"><U>Cautionary note regarding forward-looking statements</U></A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><A HREF="#toc612931_69"><U>Appendix A</U></A></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>86</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><A HREF="#toc612931_70"><U>Reconciliation of <FONT STYLE="white-space:nowrap">non-GAAP</FONT> financial measures
</U></A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><A HREF="#toc612931_71"><U>Appendix B</U></A></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>87</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><B><A HREF="#toc612931_72"><U>Appendix C</U></A></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>103</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
</TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13.5pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_1"></A>V<SMALL>OTING</SMALL> <SMALL>INSTRUCTIONS</SMALL>
<SMALL>AND</SMALL> <SMALL>GENERAL</SMALL> <SMALL>INFORMATION</SMALL> </B></FONT></P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P> <P STYLE="margin-top:20pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Why am I receiving these materials?
</I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">ResMed&#146;s board of directors is soliciting your proxy to vote at our 2018 annual meeting of stockholders and any continuation,
postponement or adjournment of the meeting. The meeting is scheduled for Thursday, November&nbsp;15, 2018, at 10:00 a.m. Australian Eastern Time (Wednesday, November&nbsp;14, 2018, at 3:00 p.m. US Pacific Time) in ResMed&#146;s Australian corporate
office located at 1 Elizabeth Macarthur Drive, Bella Vista, New South Wales 2153, Australia. If you held shares of our stock on September&nbsp;17, 2018, we invite you to attend the annual meeting and vote on the proposals described below under the
heading &#147;What am I voting on?&#148; You do not need to attend the annual meeting to vote your shares. Instead, you may vote over the internet, by telephone, or complete, sign, date, and return the enclosed proxy card by mail. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>When and where are proxy materials available? </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We expect to first make this proxy statement available to our stockholders and our holders of Clearing House Electronic Subregister System, or CHESS,
Units of Foreign Securities, on the internet, and to mail notice and access materials on or about October&nbsp;2, 2018. Our annual report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> was filed with the US Securities and Exchange Commission,
or SEC, on August&nbsp;17, 2018. You can review our <FONT STYLE="white-space:nowrap">10-K</FONT> on our website, at investor.resmed.com, and at the website where our proxy materials are posted, at www.proxyvote.com and www.investorvote.com.au. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Please access and review the proxy materials before voting. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_2"></A>Voting&nbsp;instructions&nbsp;</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Voting matters and board recommendations: </I></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="76%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Matter</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"><B>Vote&nbsp;recommendation</B></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.80em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Elect the 3 nominees identified in this proxy statement to the board of directors (page&nbsp;7)</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7" BGCOLOR="#cceeff">FOR&nbsp;each&nbsp;director&nbsp;nominee</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.80em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Ratify selection of independent registered public accountants (page&nbsp;16)</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">FOR</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.80em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Approve an amendment to the ResMed Inc. 2009 Employee Stock Purchase Plan (page&nbsp;17)</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7" BGCOLOR="#cceeff">FOR</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.80em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Advisory vote to approve executive compensation (page&nbsp;23)</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">FOR</TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Who can vote at the annual meeting? </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">You are entitled to vote or direct the voting of your ResMed shares if you were a stockholder of record, a beneficial owner of shares held in street
name, or a holder of CHESS Units of Foreign Securities, as of 4:00 p.m. US Eastern Time, on September&nbsp;17, 2018, the record date for our annual meeting. As of the record date, there were 142,691,815&nbsp;shares of ResMed common stock
outstanding, excluding treasury shares. Treasury shares will not be voted. Each stockholder has one vote for each share of common stock held on the record date. As summarized below, there are some distinctions between shares held of record, those
owned beneficially in street name, and those held through CHESS Units of Foreign Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>What does it mean to be a stockholder of record?
</I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">If, on the record date, your shares of common stock were registered directly in your name with our transfer agent, Computershare, then you
are a &#147;stockholder of record.&#148; As a stockholder of record, you may vote in person at the annual meeting or vote by proxy. Whether or not you plan to attend the annual meeting, we urge you to vote by the internet, by telephone, or to fill
out and return the enclosed proxy card, to ensure your vote is counted. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>What does it mean to beneficially own shares in &#147;street
name?&#148; </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">If, on the record date, your shares of common stock were held in an account at a broker, bank, or other financial institution
(we will refer to those organizations collectively as a &#147;broker&#148;), then you are the beneficial owner of shares held in &#147;street name,&#148; and these proxy materials are being forwarded to you by your broker. The broker holding your
account is considered the stockholder of record for purposes of voting at our annual meeting. As the beneficial owner, you have the right to direct </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">1 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">
your broker on how to vote the shares in your account. As a beneficial owner, you are invited to attend the annual meeting. But because you are not a stockholder of record, if you want to vote
your shares in person at the annual meeting, you must request and obtain a valid proxy from your broker giving you that right, and must satisfy the annual meeting admission criteria described below. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Your broker is not permitted to vote on your behalf on any matter to be considered at the annual meeting (other than ratifying our appointment of KPMG
LLP as our independent registered public accounting firm) unless you specifically instruct the broker how to vote. We encourage you to communicate your voting decisions to your broker before the annual meeting date to ensure that your vote will be
counted. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>What does it mean to be a holder of CHESS Units of Foreign Securities? </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">CHESS Units of Foreign Securities are depositary interests issued by ResMed through CHESS, and traded on the Australian Securities Exchange, or ASX. The
depositary interests are frequently called &#147;CUFS&#148;, or &#147;CDIs.&#148; If you own ResMed CUFS or CDIs, then you are the beneficial owner of one ResMed common share for every ten CUFS or CDIs you own. Legal title is held by CHESS
Depositary Nominees Pty Limited. CHESS Depositary Nominees is considered the stockholder of record for purposes of voting at our annual meeting. As the beneficial owner, you have the right to direct CHESS Depositary Nominees on how to vote the
shares in your account. As a beneficial owner, you are invited to attend the annual meeting. But because you are not a stockholder of record, if you want to vote your shares in person at the annual meeting, you must request and obtain a valid proxy
from CHESS Depositary Nominees giving you that right, and must satisfy the annual meeting admission criteria described below. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">You will receive a
notice from Computershare allowing you to deliver your voting instructions over the internet. In addition, you may request paper copies of the proxy statement and voting instructions by following the instructions on the notice provided by
Computershare. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Under the rules governing CUFS and CDIs, CHESS Depositary Nominees are not permitted to vote on your behalf on any matter to be
considered at the annual meeting unless you specifically instruct CHESS Depositary Nominees how to vote. We encourage you to communicate your voting decisions to CHESS Depositary Nominees before the annual meeting date to ensure that your vote will
be counted. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>How do I vote my shares before the annual meeting? </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Holders of common stock listed on the New York Stock Exchange, or NYSE.<I> </I>If you are a holder of common stock listed on the NYSE, you may vote
before the meeting by submitting a proxy. The method of voting by proxy differs (1)&nbsp;depending on whether you are viewing this proxy statement on the internet or on a paper copy, and (2)&nbsp;for shares held as a record holder and shares held in
&#147;street name.&#148; You may request paper copies of the proxy statement and proxy card by following the instructions on the notice described below. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="82%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Holder</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Method&nbsp;of&nbsp;voting</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"><B>Holders of record</B></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">If you hold your shares of common stock as a record holder and you are viewing this proxy statement on the internet, you
may vote by submitting a proxy over the internet or by telephone by following the instructions on the website referred to in the notice of internet availability of proxy materials previously mailed to you. If you hold your shares of common stock as
a record holder and you are reviewing a paper copy of this proxy statement, you may vote your shares by completing, dating and signing the proxy card that was included with the proxy statement and promptly returning it in the <FONT
STYLE="white-space:nowrap">pre-addressed,</FONT> postage-paid envelope provided to you, or by using the toll-free number, or by submitting a proxy over the internet using the instructions on the proxy card.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"><B>Shares held in &#147;street name&#148;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">If you hold your shares of common stock in street name, you will receive a notice from your broker with instructions on how to vote your
shares. Your broker will allow you to deliver your voting instructions over the internet.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"><B>Holders of CUFS or CDIs listed on the ASX</B></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">If you hold our CUFS or CDIs, you will receive a notice from Computershare, which will allow you to make your voting
instructions over the internet. In addition, you may request paper copies of the proxy statement and voting instructions from Computershare by following the instructions on the notice provided by Computershare.</TD></TR>
</TABLE> <P STYLE="margin-top:22pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Internet voting closes in the US at 11:59&nbsp;p.m.,&nbsp;November&nbsp;14, 2018 US Eastern Time for shares traded
on the NYSE, and 10:00&nbsp;a.m.,&nbsp;November&nbsp;14, 2018 Australian Eastern Time for holders of CHESS Units of Foreign Securities listed on the ASX. </I></B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">2 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>How do I vote in person at the annual meeting? </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">If you attend our annual meeting and want to vote in person, you may vote your shares in person by requesting a ballot at our annual meeting. You will
need to have proof of ownership and valid photo identification with you for admission to our annual meeting. Please note, however, that if your shares are held in street name, or if you hold CUFS or CDIs, you must bring a legal proxy from the record
holder of the shares (which is the broker, other nominee, or CHESS nominee), authorizing you to vote at our annual meeting. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>How can I revoke
my proxy or change my vote? </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">You may revoke your proxy and change your vote at any time before the proxy is exercised by any of the
following methods: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="83%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"><B>Holder</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Method&nbsp;of&nbsp;voting</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"><B>Holders&nbsp;of&nbsp;record&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-3.00em; font-size:10pt; font-family:ARIAL"><FONT
STYLE="font-family:Times New Roman">&#9679;</FONT>&#8195;&#8195;&#8201;&#8201;Delivering written notice of revocation to our secretary at our principal executive office located at 9001 Spectrum Center Boulevard, San Diego, California 92123
USA;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-3.00em; font-size:10pt; font-family:ARIAL"><FONT
STYLE="font-family:Times New Roman">&#9679;</FONT>&#8195;&#8195;&#8201;&#8201;Delivering another timely and later dated proxy to our secretary at our principal executive office located at 9001 Spectrum Center Boulevard, San Diego, California 92123
USA;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-3.00em; font-size:10pt; font-family:ARIAL"><FONT
STYLE="font-family:Times New Roman">&#9679;</FONT>&#8195;&#8195;&#8201;&#8201;Revoking by internet or by telephone before 11:59 p.m. US Eastern Time on November&nbsp;14, 2018, for shares traded on the NYSE and 10:00 a.m. Australian Eastern Time on
November&nbsp;14, 2018, for holders of CHESS Units of Foreign Securities listed on the ASX; or</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-3.00em; font-size:10pt; font-family:ARIAL"><FONT STYLE="font-family:Times New Roman">&#9679;</FONT>&#8195;&#8195;&#8201;&#8201;Attending the 2018 annual meeting and voting
in person by written ballot. Please note that your attendance at the meeting will not revoke your proxy unless you actually vote at the meeting.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"><B>Stock held by brokers, banks and nominees; and CUFS or CDIs</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; font-size:10pt; font-family:ARIAL">You must contact your broker, bank or
other nominee to obtain instructions on how to revoke your proxy or change your vote. You may also obtain a &#147;legal proxy&#148; from your broker, bank or other nominee to attend our annual meeting and vote in person by written
ballot.</P></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>What happens if I return the proxy card to ResMed but do not make specific choices? </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">If you return a signed, dated proxy card to us with a choice specified on a voting matter, we will vote your shares according to your choice. If you
return a signed, dated proxy card to us but do not make specific choices, we will vote your shares as follows: (1)&nbsp;FOR each of the three nominees to our board identified in this proxy statement; (2)&nbsp;FOR ratifying our selection of KPMG;
(3)&nbsp;FOR amending the ResMed Inc. 2009 Employee Stock Purchase Plan; and (4)&nbsp;FOR approving, on a <FONT STYLE="white-space:nowrap">non-binding,</FONT> advisory basis, the compensation we paid our named executive officers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>What does it mean if I received more than one proxy card? </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">If you receive more than one proxy card, your shares are registered in more than one name or are registered in different accounts. Please complete, sign
and return each proxy card to ensure that all of your shares are voted. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_3"></A>General&nbsp;information&nbsp;&nbsp;</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>What are broker <FONT STYLE="white-space:nowrap">non-votes</FONT> and how are they counted? </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">If your broker holds your common stock in street name and you have not provided your broker with voting instructions, your broker may vote your shares
in its discretion on proposals NYSE rules consider &#147;routine.&#148; The only proposal considered &#147;routine&#148; in our meeting is the proposal to ratify the selection of our independent registered public accounting firm. If you do not
provide direction to your broker for that proposal, your broker may exercise its discretion to vote your shares. The election of directors, the approval of the amendments to the ResMed Inc. 2009 Employee Stock Purchase Plan, and the advisory votes
on executive compensation are not considered &#147;routine&#148;, and brokers do not have discretionary authority to vote on these matters without your direction. You must indicate to your broker how you wish to vote on any <FONT
STYLE="white-space:nowrap">non-routine</FONT> matter with respect to any shares you hold in street name or they will be considered a &#147;broker <FONT STYLE="white-space:nowrap">non-vote.&#148;</FONT> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Broker <FONT STYLE="white-space:nowrap">non-votes</FONT> will not affect the outcome of the election of our directors, the advisory vote to approve our
executive compensation, the approval of the amendment to the ResMed Inc. 2009 Employee Stock Purchase Plan, as these matters are determined based on the number of votes cast and broker <FONT STYLE="white-space:nowrap">non-votes</FONT> are not
considered votes cast. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">3 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Your vote is important. Please submit your proxy, or provide instructions to your brokerage firm, bank
or the CHESS Depositary Nominees. This will ensure that your shares are voted at our annual meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>How many shares must be present or
represented to conduct business at the annual meeting? </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">A quorum of stockholders is necessary to hold a valid annual meeting. A quorum will
be present if a majority of the outstanding shares entitled to vote are represented at our annual meeting. Shares represented by proxies that reflect abstentions or broker <FONT STYLE="white-space:nowrap">non-votes</FONT> will be counted as shares
represented at our annual meeting for purposes of determining a quorum. If there are insufficient votes to constitute a quorum at the time of the annual meeting, we may adjourn the annual meeting to solicit additional proxies. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">On the record date we had outstanding 142,691,815&nbsp;shares of common stock (excluding treasury shares), the holders of which are entitled to one vote
per share. Accordingly, an aggregate of 142,691,815&nbsp;votes may be cast on each matter to be considered at our annual meeting, and at least 71,345,908&nbsp;shares must be represented at the meeting to have a quorum. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>What is the voting requirement to approve each of the proposals? </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><I>Proposal 1</I> &#150; Directors will be elected by a majority of the votes cast in person or by proxy, which means that the number of votes cast
&#147;for&#148; a candidate for director must exceed the number of votes cast &#147;against&#148; that candidate. Abstentions and broker <FONT STYLE="white-space:nowrap">non-votes</FONT> do not count as a vote cast either &#147;for&#148; or
&#147;against&#148; and will not affect the outcome of the election. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Under our board&#146;s policy, in uncontested elections, an incumbent director
nominee who does not receive the required votes for <FONT STYLE="white-space:nowrap">re-election</FONT> will continue to serve, but is expected to tender a resignation to the board. The nominating and governance committee, or another duly authorized
committee of the board, will decide whether to accept or reject the tendered resignation, generally within 90 days after the election results are certified. We will publicly disclose the board&#146;s decision on the tendered resignation and the
rationale behind the decision. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><I>Proposal 2</I> &#150; The proposal to ratify our selection of KPMG LLP as our independent registered public
accounting firm for the fiscal year ending June&nbsp;30, 2019 requires the affirmative vote of a majority of the aggregate votes cast in person or by proxy. Abstentions will not affect the outcome of this proposal. Brokers generally have
discretionary authority to vote on the ratification of our independent registered public accounting firm, so we do not expect broker <FONT STYLE="white-space:nowrap">non-votes</FONT> to result from the vote on proposal 2. Any broker <FONT
STYLE="white-space:nowrap">non-votes</FONT> that may result will not affect the outcome of this proposal. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><I>Proposal 3 &#150;</I>The proposal to
approve an amendment to the ResMed Inc. 2009 Employee Stock Purchase Plan requires the affirmative vote of a majority of shares cast in person or by proxy. Abstentions and broker <FONT STYLE="white-space:nowrap">non-votes</FONT> will not affect the
outcome of this proposal. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><I>Proposal 4</I> &#150; The advisory vote to approve our executive compensation, <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">(&#147;say-on-pay&#148;</FONT></FONT> vote), requires the affirmative vote of a majority of shares cast in person or by proxy. Abstentions and broker <FONT STYLE="white-space:nowrap">non-votes</FONT> will not affect the
outcome of this proposal. As an advisory vote, the results of this vote will not be binding on the board or the company. However, the board values the opinions of our stockholders and will consider the outcome of the vote when making future
decisions on our named executive officers&#146; compensation, and on our executive compensation principles, policies and procedures. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:0%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Who pays the costs of proxy solicitors? </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The cost of soliciting proxies will be borne by us. After the original delivery of the notice and other proxy soliciting material, further solicitation
of proxies may be made by mail, telephone, facsimile, electronic mail, and personal interview by our regular employees, who will not receive additional compensation for the solicitation. We will also request that brokerage firms and other nominees
or fiduciaries deliver the notice and proxy soliciting material to beneficial owners of the stock held in their names, and we will reimburse them for reasonable
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> expenses they incur. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>How can I see a list of
stockholders? </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Under Delaware law, a list of stockholders entitled to vote at our annual meeting will be available at the meeting and for
ten days before our annual meeting in our principal executive office, located at 9001&nbsp;Spectrum Center Boulevard, San Diego, California, 92123 USA, between the hours of 9:00 a.m. and 4:00 p.m. US Pacific Time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>How will I receive my proxy materials? </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We are furnishing proxy materials (proxy statement and annual report on Form <FONT STYLE="white-space:nowrap">10-K)</FONT> to our stockholders by the
internet, instead of mailing printed copies of proxy materials to each stockholder. Accordingly, we are sending a notice of internet </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">4 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">
availability of proxy materials to our stockholders of record. If your shares are listed in street name on the NYSE, brokers who hold shares on your behalf will send you their own similar notice.
If you hold CUFS or CDIs listed on the ASX, you will receive your notice from Computershare. If you received the notice by mail, you will not automatically receive a printed copy of the proxy materials in the mail. Instead, the notice tells you how
to use the internet to access and review this proxy statement, our annual report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> and proxy voting card. The notice also tells you how you may submit your proxy via the internet. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Our proxy materials explain how you may request to receive your materials in printed form on a <FONT STYLE="white-space:nowrap">one-time</FONT> or
ongoing basis. Certain stockholders who have previously given us a permanent request to receive a paper copy of our proxy materials will be sent paper copies in the mail. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">5 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13.5pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_4"></A>P<SMALL>ROPOSALS</SMALL> </B></FONT></P>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">6 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13.5pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_5"></A>P<SMALL>ROPOSAL</SMALL> 1:
E<SMALL>LECTION</SMALL> <SMALL>OF</SMALL> <SMALL>DIRECTORS</SMALL> </B></FONT></P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Our bylaws authorize a board of directors with between one and thirteen members, with the exact number to be specified by the board from time to time.
Our board currently authorizes eight directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Our board is divided into three classes. One class is elected every year at our annual meeting for
a term of three years. The class of directors whose term expires in 2018 has three members: Peter Farrell, Gary Pace, and Ron Taylor. Gary Pace will not stand for <FONT STYLE="white-space:nowrap">re-election</FONT> at the annual meeting. On the
nominating and governance committee&#146;s recommendation, our board has nominated Peter Farrell and Ron Taylor, and a new nominee, Harjit Gill, as directors for election at this annual meeting. The directors to be elected at this annual meeting
will hold office until the 2021 annual meeting or until the director&#146;s earlier death, disability, resignation, or removal. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We are soliciting
proxies in favor of these nominees and proxies will be voted for them unless the proxy otherwise specifies. If Peter Farrell, Harjit Gill, or Ron Taylor becomes unable or unwilling to serve as director, the proxies will be voted for the election of
another person, if any, that the board designates. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Information concerning the nominees for director and the other directors who will continue in
office after our annual meeting is set forth below: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="51%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"><B>Director</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Current&nbsp;term</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>expiration</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Age&nbsp;as&nbsp;of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>September&nbsp;17,&nbsp;2018</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"><B>Position</B></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Peter&nbsp;Farrell</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">2018</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">76</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">Founder,&nbsp;chairman&nbsp;of&nbsp;the&nbsp;board, and nominee for <FONT
STYLE="white-space:nowrap">re-election</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Harjit Gill</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center">-</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">53</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">Nominee for election as director</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Ron Taylor</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">2018</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">70</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">Lead&nbsp;director, and nominee for
<FONT STYLE="white-space:nowrap">re-election</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Carol Burt</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">2019</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">60</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">Director</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Rich Sulpizio</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">2019</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">68</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">Director</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Michael&nbsp;Farrell</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">2020</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">46</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">Chief executive officer and director</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Karen Drexler</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">2020</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">58</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">Director</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Jack&nbsp;Wareham</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">2020</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">77</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">Director</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">7 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The following biographical information is furnished with regard to our directors (including nominees)
as of September&nbsp;17, 2018. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Nominees for election at our annual meeting to serve for a three-year term expiring at the 2021 annual
meeting: </I></B></P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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</TD>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>Peter Farrell </B>is the founder and chairman of the board of ResMed and has been chairman and a director since its inception in
June 1989.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Dr.&nbsp;Farrell also served as chief executive
officer from July 1990 until December 2007, and from February 2011 until March 2013. Dr.&nbsp;Farrell served as executive chairman of the board from December 2007 until February 2011, and from March 2013 through December 2013. Since January&nbsp;1,
2014, he has been a <FONT STYLE="white-space:nowrap">non-officer</FONT> employee of ResMed.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">From July&nbsp;1984 to June&nbsp;1989, Dr.&nbsp;Farrell served as vice president, research and development at various subsidiaries of Baxter
International, Inc.; and from August&nbsp;1985 to June&nbsp;1989, he also served as managing director of the Baxter Center for Medical Research Pty Ltd., a Baxter subsidiary. From January&nbsp;1978 to December&nbsp;1989, he was foundation director
of the Graduate School for Biomedical Engineering at the University of New South Wales, where he currently serves as a visiting professor and as chairman of the UNSW Centre for Innovation and Entrepreneurship. He also serves on the Visiting
Committee of the Health Sciences&nbsp;&amp; Technology Program at the Massachusetts Institute of Technology and on the MIT Dean of Engineering&#146;s Advisory Council.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In May 2018, Dr.&nbsp;Farrell was named chairman of the board at
Arcturus Therapeutics Ltd (NASDAQ: ARCT), an RNA therapeutics company. He currently serves on two faculty advisory boards at the University of California, San Diego: the Rady Business School and the Jacobs Engineering School. He holds a B.E. in
chemical engineering with honors from the University of Sydney, an S.M. in chemical engineering from the Massachusetts Institute of Technology, a Ph.D. in chemical engineering and bioengineering from the University of Washington, Seattle and a D.Sc.
from the University of New South Wales for research contributions in the field of treatment with the artificial kidney.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">From 2005 through May 2018, Dr.&nbsp;Farrell was a director of NuVasive, Inc., a NASDAQ-listed company which develops and markets products for the
surgical treatment of spine disorders. From 2007 through 2014, he was the <FONT STYLE="white-space:nowrap">non-executive</FONT> chairman of the board of QRx Pharma, a specialty pharmaceutical company.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Dr.&nbsp;Farrell is a fellow or honorary fellow of several
professional bodies, including being a member of the National Academy of Engineering, to which he was elected in 2012. Dr.&nbsp;Farrell was named 1998 San Diego Entrepreneur of the Year for Health Sciences, Australian Entrepreneur of the Year in
2001 and US National Entrepreneur of the Year for Health Sciences in 2005. Dr.&nbsp;Farrell joined the Executive Council of the Division of Sleep Medicine at Harvard Medical School in 1998, served as vice chairman from 2000 until 2010 when he became
chairman; he served in that capacity until May 2013. In 2012, he joined the board of trustees of the Scripps Research Institute.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Dr.&nbsp;Farrell&#146;s son, Michael Farrell, is ResMed&#146;s chief executive officer and one of its directors.</P></TD></TR>
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 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">8 </P>

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<TD VALIGN="top" ROWSPAN="2"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Dr. Farrell&#146;s role as our founder and chief executive officer for over 20 years provides him with a unique and deep
understanding of our operations, technology and industry. In addition, his background reflects significant executive experience with other publicly-held medical technology companies and public company governance experience and training. This
experience and training includes more than seven years of experience on the nominating and governance committee and one year of experience on the compensation committee of NuVasive, as well as coursework specific to corporate governance from the
Harvard Business School.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Dr. Farrell&#146;s experience and skills led our board
to the conclusion that he should serve as a director.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Harjit Gill</B> is a newly-nominated
candidate for director.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Since 2016 Ms. Gill is Advisor to Delmedica
Investments, a Singapore-based company focused on respiratory healthcare and inventors of the <FONT STYLE="white-space:nowrap">X-Halo</FONT> breath thermometer. She is also a member of the board of directors of Apollo Education and Training,
Vietnam, a private company providing English teaching in Vietnam, where she has served since 2017. She is also the current Chapter Chair Gold of the YPO Singapore Chapter.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">From 2015-2016 she served as Chief Operations and Marketing HTC,
Taiwan.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">From 1990-2015, she worked for Royal Philips in various
roles. From 2012-2015, she was executive vice president and chief executive officer for Philips ASEAN &amp; Pacific, based in Singapore responsible for Healthcare/Lighting and Consumer Lifestyle. From 2009-2012, she was senior vice president &#150;
international sales, and from 2006-2009, was vice president &#150; Asia, both for Philips Consumer Lifestyle Products. Before 2006, she held progressive roles in the Netherlands, Hong Kong, Dubai, and Singapore for Consumer Electronics</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">From 2012 to January 2018, she served as a board member of the
National University of Singapore, Entrepreneurship Committee. From 2012 to 2015, she was a board member of the Singapore International Chamber of Commerce. She is also a former member of the World Economic Forum South East Asia Council 2014/2015</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Ms. Gill has a bachelor of arts (honors) in combined studies from
the University of Manchester.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Ms. Gill was first recommended to
us by a search firm retained by the nominating and governance committee. Her executive and operational experience and skills led our board to the conclusion that she should serve as a director, particularly her background in consumer healthcare, her
experience in Asia, and her executive experience.</P></TD></TR>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>Ron Taylor</B> has served as our director since January 2005 and our independent lead director since July 1, 2013. He is chair of
our nominating and governance committee and a member of our audit committee.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In 1987, Mr. Taylor founded Pyxis Corporation, a manufacturer of automated drug dispensers for hospitals, where he served as chairman, president, and
chief executive officer until its purchase by Cardinal Health, Inc., in 1996. For six years before founding Pyxis, Mr. Taylor was responsible for operations and international sales at Hybritech, Inc., a biotechnology company. Before joining
Hybritech, he served over 10 years in management roles at Allergan Pharmaceuticals.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr. Taylor served as a director of Allergan plc, a NYSE-listed specialty pharmaceutical company from 1994 until May 2018. During his tenure he served on
the audit, compensation, and nominating and governance committees. From 1998 through 2014, he served as a director of Red Lion Hotels Corporation and was at various times a member of the nominating and governance, compensation and audit committees.
From 2002 until his appointment to the ResMed board in 2005, he served as chairman of the ResMed Foundation.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr. Taylor received a B.A. from the University of Saskatchewan and an M.A. from the University of California, Irvine.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr. Taylor&#146;s background reflects significant executive and
operational experience with publicly-held medical technology and pharmaceutical companies, including experience in evaluating and investing in healthcare companies as a partner in a venture capital firm, and public company governance experience. He
has been a director of approximately 20 publicly and privately held companies over the past 27 years. In addition, he has more than 15 years of experience as a member of the Red Lion Hotel&#146;s governance, compensation and audit committees, and
more than 20 years of experience as a member of the Allergan (formerly Watson and Actavis) audit, compensation and governance committees.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr. Taylor&#146;s experience and skills led the board to the conclusion that he should serve as a director.</P></TD></TR>
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<TD VALIGN="top" BGCOLOR="#54a0ff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.40em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#FFFFFF"><B>BOARD RECOMMENDATION</B></FONT></P>
<P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.40em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#FFFFFF"><B>YOUR BOARD OF DIRECTORS RECOMMENDS A VOTE &#147;FOR&#148; THE ELECTION OF EACH OF THE
THREE NOMINEES TO</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.40em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#FFFFFF"><B>THE BOARD OF DIRECTORS.</B></FONT></P></TD></TR>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>Carol Burt</B> has served as our director since November 2013. She is chair of our audit committee.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Ms. Burt has been a principal of Burt-Hilliard Investments since
2008, and since January 2013, serves on the operating council and acts as a senior advisor to Consonance Capital Partners, a New York-based private equity firm focused on investing in the US healthcare industry.</P>
<P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In addition to ResMed, Ms. Burt serves on the boards of Envision
Healthcare, a publicly-held company providing integrated facility-based physician services, ambulatory surgery and comprehensive patient care management and WellDyne RX, a privately-held pharmacy benefit management company. Ms. Burt chairs
Envision&#146;s nominating and governance committee and serves on the audit committee. In addition, Ms. Burt chairs WellDyne&#146;s audit committee. Previously, Ms. Burt served on the public boards of WellCare Health Plans, Inc., Vanguard Health
Systems, Inc., Transitional Hospitals Corporation, and privately-held KEPRO.</P> <P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Ms. Burt was formerly an executive of WellPoint, Inc. (now Anthem, Inc.), where she served from 1997 to 2007, most recently as WellPoint&#146;s senior
vice president, corporate finance and development. Ms. Burt was a member of the executive team that built WellPoint from a small single state Blue Cross plan to one of the country&#146;s leading health benefits companies with nationwide reach,
revenues of $61 billion and market cap of $50 billion. In her time at WellPoint, Ms. Burt was responsible for, among other things, corporate strategic planning and execution, mergers and acquisitions, strategic investments, finance, treasury, and
real estate management. In addition, WellPoint&#146;s financial services and international insurance business units reported to her.</P> <P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Prior to joining WellPoint, Ms. Burt was senior vice president and treasurer of American Medical Response overseeing its sale to Laidlaw, Inc. Ms. Burt
spent 16 years at Chase Securities, Inc. (now JP Morgan), most recently as managing director and head of the Health Care Investment Banking Group. Ms. Burt founded and built Chase&#146;s Health Care Group into the industry leader in healthcare
financing.</P> <P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Ms. Burt is a member of Women Corporate Directors and
NACD where she is a board fellow. She most recently served as Chair of the Fortune 1000 Working Group for the Women&#146;s Leadership Foundation of Colorado. Over the years, Ms. Burt has served in leadership positions on numerous <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">not-for-profit</FONT></FONT> boards including currently as the chair for The Nature Conservancy of Colorado.</P>
<P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Ms. Burt graduated magna cum laude, from the University of Houston,
earning a Bachelor of Business Administration.</P> <P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Ms. Burt&#146;s
skills and experience, particularly her over 35 years of experience in executive management, operations, strategy, mergers and acquisitions, corporate finance, accounting, and investment banking in the health insurance, healthcare services and
financial services industries, combined with her board experience, led the board to the conclusion that she should serve as a director.</P></TD></TR>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>Rich Sulpizio</B> has served as our director since August 2005. He is chair of our compensation committee.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr. Sulpizio retired as president and chief operating officer of
Qualcomm, Inc. in 2001. He served on Qualcomm&#146;s board of directors from 2000 until 2007. Mr. Sulpizio joined Qualcomm in 1991 and in 1994, was appointed president of Qualcomm Wireless Business Solutions. Four years later, he became
Qualcomm&#146;s president and chief operating officer. In 2002, he <FONT STYLE="white-space:nowrap">re-joined</FONT> Qualcomm to serve as interim president of Qualcomm China and then took the helm of Qualcomm Europe in 2004. He was appointed as
interim president in 2005 of MediaFLO USA, Inc. (now FLO TV Incorporated), a wholly-owned subsidiary of Qualcomm, and was chartered with overseeing the development and deployment of MediaFLO technology and bringing multimedia services to the
wireless industry. Mr. Sulpizio&#146;s last assignment, from December 2009 to November 2013, was president and chief executive officer of Qualcomm Enterprise Services (QES), a division of Qualcomm, Inc., which was sold to a private equity firm.</P>
<P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Before joining Qualcomm, Mr. Sulpizio worked at Unisys Corporation
and Fluor Corporation.</P> <P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr. Sulpizio currently serves as a
director of CA, Inc., an information technology management software company. He also serves as an honorary board member of the advisory board of the University of California San Diego&#146;s Sulpizio Family Cardiovascular Center. Mr. Sulpizio holds
a B.A. from California State University, Los Angeles, and an M.S. in Systems Management from the University of Southern California.</P> <P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr. Sulpizio&#146;s background reflects significant executive and operational experience with publicly-held technology companies, including his service
as the president and chief operating officer of Qualcomm, and seven years as a member of the Qualcomm board&#146;s strategic committee. In addition, Mr. Sulpizio also serves as the chair of the compensation committee and is a member of the
governance committee of CA Technologies. In 2015 the Corporate Directors Forum honored Mr. Sulpizio as &#147;Director of the Year in Corporate Governance.&#148;</P> <P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr. Sulpizio&#146;s experience and skills led the board to the conclusion that he should serve as a director.</P></TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B><I>Directors continuing in office until our 2020 annual meeting: </I></B></P>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>Michael</B><B></B><B>&nbsp;Farrell</B> has served as our director since March 2013.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr.&nbsp;Farrell has been our chief executive officer and a director
since March&nbsp;1, 2013. Before that appointment, he served as our president &#150; Americas from May 2011; our senior vice president, strategic business unit&nbsp;&#150; sleep from July 2007 to May 2011; our vice president, marketing for the
Americas from June 2005 through July 2007; and before that was our vice president, business development. Before joining ResMed in September 2000, Mr.&nbsp;Farrell worked in management consulting, biotechnology, chemicals and steel manufacturing at
Arthur D. Little, Genzyme Corporation, Dow Chemical, and BHP&nbsp;Billiton.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr.&nbsp;Farrell serves on the board of directors of Zimmer Biomet (NYSE: ZBH), a multi-billion-dollar public company that provides implantable
musculoskeletal medical devices for patients globally. Mr.&nbsp;Farrell is a member of the Compensation and Management Development committee as well as the Nominating and Governance committee at Zimmer Biomet. Mr.&nbsp;Farrell also serves on the
board of directors of the Advanced Medical Technology Association (AdvaMed), based in Washington, DC. Mr.&nbsp;Farrell volunteers as a trustee for <FONT STYLE="white-space:nowrap">non-profit</FONT> organizations: UC San Diego Foundation, Rady
Children&#146;s Hospital, the La Jolla Playhouse, and the Museum of Man.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr.&nbsp;Farrell holds a bachelor of engineering, with first-class honors, from the University of New South Wales, a master of science in chemical
engineering from the Massachusetts Institute of Technology, and an M.B.A. from the MIT Sloan School of Management.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr.&nbsp;Farrell&#146;s father, Peter Farrell, is our founder and chairman of the board.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr.&nbsp;Farrell was appointed to serve as a director on the board
effective March&nbsp;1, 2013, at the same time he was appointed as chief executive officer. Mr.&nbsp;Farrell does not serve on any of the ResMed board committees.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr.&nbsp;Farrell&#146;s skills and more than 18 years&#146;
experience with ResMed and over 23 years&#146; experience with healthcare and manufacturing industries provides him with a unique and deep understanding of our operations, technology and market, and led the board to the conclusion that he should
serve as a director. In addition, the board believes it appropriate for the chief executive officer to serve as a member of the board.</P></TD></TR>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>Karen Drexler</B><I> </I>has served as our director since November 2017. She is a member of our compensation committee.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Ms.&nbsp;Drexler is currently president, chief executive officer and
a board member of Sandstone Diagnostics, Inc., a private company developing instruments and consumables for <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">point-of-care</FONT></FONT> medical testing. She has been on its board
since 2014, and became CEO in 2016. Ms.&nbsp;Drexler also serves on the board of directors of AP360, a <FONT STYLE="white-space:nowrap">for-profit</FONT> subsidiary of Medicines360, a women&#146;s health company. From 2011 to 2017, Ms.&nbsp;Drexler
served as chairman of the board of directors of Hygieia, Inc., a private digital insulin therapy company.&nbsp;She remains involved as an advisor to the CEO.&nbsp;Ms.&nbsp;Drexler also acts as a senior strategic advisor for several other early stage
companies and is on the board of directors for the Keller Center for Innovation in Engineering Education at Princeton University.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Ms.&nbsp;Drexler has served on numerous private company boards in the past in the fields of diagnostics, medical devices and digital health.
Ms.&nbsp;Drexler is an active mentor and advisor with Astia, a global nonprofit that supports high potential female founders. She is a founding member of Astia Angels, a network of individual investors who fund such founders. Ms.&nbsp;Drexler is
also a lead mentor with StartX, the Stanford University incubator. She is also on the Life Science Council for Springboard, an accelerator for <FONT STYLE="white-space:nowrap">women-led</FONT> technology-oriented companies.&nbsp;Through her work
with Astia, Springboard and StartX, Ms.&nbsp;Drexler interacts with many promising young medtech companies.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Ms.&nbsp;Drexler was the president and chief executive officer of Amira Medical Inc., a private company focused on minimally invasive glucose monitoring
technology, from 1996 until it was sold to Roche Holding AG in 2001. From 1984 to 1995, she held various positions in marketing, sales, manufacturing, business development, and research and development at LifeScan. She played a key role in the sale
of LifeScan to Johnson&nbsp;&amp; Johnson in 1986.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Ms.&nbsp;Drexler holds a B.S.E. in Chemical Engineering from Princeton University and an M.B.A. from Stanford University Graduate School of Business.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Ms.&nbsp;Drexler&#146;s executive and board experience in the
medical diagnostics and medical device industries, particularly her experience in technology and data security, and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-hospital</FONT></FONT> care models, led our board to
conclude she should serve as a director.</P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>Jack Wareham</B> has served as our director since January 2005. He is a member of our audit committee and our nominating and
governance committee.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">From September 1993 to January 2004,
Mr.&nbsp;Wareham was the president of Beckman Coulter, Inc., a NYSE-listed biomedical company that develops and markets instruments, chemistries, software and supplies to simplify and automate laboratory processes. Mr.&nbsp;Wareham also served as
chief executive officer from August 1998 to February 2005 and chairman from January 1999 to April 2005. Before joining Beckman Coulter in 1984, Mr.&nbsp;Wareham was president of Norden Laboratories, Inc., a wholly-owned subsidiary of SmithKline
Beckman. He first joined a predecessor of SmithKline Beckman Corporation in 1968.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">From January 2005 to July 2018, Mr.&nbsp;Wareham served as a director and <FONT STYLE="white-space:nowrap">non-executive</FONT> chairman of STERIS plc, a
NYSE-listed market leader in infection prevention, decontamination and health science technologies, products and services. Mr.&nbsp;Wareham previously served as a director on the boards of Beckman Coulter, Inc., Greatbatch, Inc. and Accuray
Incorporated. From 2000-2001, Mr.&nbsp;Wareham served as chairman of the Advanced Medical Technology Association, or AdvaMed, a medical device industry trade association.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr.&nbsp;Wareham holds a B.S. <I>cum laude</I>, in pharmacy, from
Creighton University in Omaha, Nebraska, and an M.B.A., with honors, from Washington University in St.&nbsp;Louis, Missouri.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr.&nbsp;Wareham&#146;s background reflects significant executive and operational experience with publicly-held medical technology companies, including
president, chief executive officer, and chairman of Beckman Coulter, as well as governance experience on other public companies&#146; boards. In particular, this experience includes more than five and ten years of service on the STERIS compliance
and compensation committees, respectively, six years of experience on the Greatbatch technology and audit committee and two years of experience on the Accuray governance committee.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr.&nbsp;Wareham&#146;s experience and skills led our board to the
conclusion that he should serve as a director.</P></TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13.5pt; font-family:ARIAL"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_6"></A>P<SMALL>ROPOSAL</SMALL> 2: R<SMALL>ATIFICATION</SMALL>
<SMALL>OF</SMALL> <SMALL>SELECTION</SMALL> <SMALL>OF</SMALL> KPMG LLP <SMALL>AS</SMALL> <SMALL>OUR</SMALL> <SMALL>INDEPENDENT</SMALL> <SMALL>REGISTERED</SMALL> <SMALL>PUBLIC</SMALL> <SMALL>ACCOUNTING</SMALL> <SMALL>FIRM</SMALL> <SMALL>FOR</SMALL>
<SMALL>FISCAL</SMALL> <SMALL>YEAR</SMALL> <SMALL>ENDING</SMALL> J<SMALL>UNE</SMALL>&nbsp;30, 2019 </B></FONT></P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The audit committee has appointed the firm
of KPMG LLP as our independent registered public accounting firm for the fiscal year ending June&nbsp;30, 2019. KPMG has served as our independent registered public accounting firm since 1994. Neither the firm nor any of its members has any
relationship with us or any of our affiliates except in the firm&#146;s capacity as our independent registered public accounting firm. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Stockholder
ratification of the selection of KPMG LLP as our independent registered public accounting firm is not required by our bylaws or otherwise. However, the board is submitting the selection of KPMG LLP to the stockholders for ratification as a matter of
corporate practice. If the stockholders fail to ratify the selection, the audit committee will reconsider whether to retain KPMG. Even if the selection is ratified, the audit committee, in its discretion, may direct the appointment of a different
independent registered public accounting firm at any time during the year if the audit committee determines that the change would be in our and our stockholders&#146; best interests. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We expect representatives of KPMG LLP to be present at the meeting. They will be able to make statements if they so desire and to respond to appropriate
questions from stockholders. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.40em; font-size:10pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#FFFFFF"><B>BOARD RECOMMENDATION</B></FONT></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:0.40em; font-size:10pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#FFFFFF"><B>YOUR BOARD OF DIRECTORS
RECOMMENDS A VOTE &#147;FOR&#148; APPROVAL OF THE RATIFICATION OF THE SELECTION OF KPMG LLP AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING JUNE&nbsp;30, 2019.</B></FONT></P></TD></TR>
</TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13.5pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_7"></A>P<SMALL>ROPOSAL</SMALL> 3:
A<SMALL>PPROVAL</SMALL> <SMALL>OF</SMALL> <SMALL>AN</SMALL> <SMALL>AMENDMENT</SMALL> <SMALL>TO</SMALL> <SMALL>THE</SMALL> R<SMALL>ES</SMALL>M<SMALL>ED</SMALL> I<SMALL>NC</SMALL>. 2009 E<SMALL>MPLOYEE</SMALL> S<SMALL>TOCK</SMALL>
P<SMALL>URCHASE</SMALL> P<SMALL>LAN</SMALL>, <SMALL>WHICH</SMALL> <SMALL>INCREASES</SMALL> <SMALL>THE</SMALL> <SMALL>NUMBER</SMALL> <SMALL>OF</SMALL> <SMALL>SHARES</SMALL> <SMALL>AUTHORIZED</SMALL> <SMALL>FOR</SMALL> <SMALL>ISSUE</SMALL>
<SMALL>UNDER</SMALL> <SMALL>THE</SMALL> <SMALL>PLAN</SMALL> <SMALL>BY</SMALL> 2&nbsp;<SMALL>MILLION</SMALL> <SMALL>SHARES</SMALL>, <SMALL>FROM</SMALL> 4.2&nbsp;<SMALL>MILLION</SMALL> <SMALL>SHARES</SMALL> <SMALL>TO</SMALL>
6.2&nbsp;<SMALL>MILLION</SMALL> <SMALL>SHARES</SMALL>, <SMALL>AND</SMALL> <SMALL>EXTENDS</SMALL> <SMALL>THE</SMALL> <SMALL>PLAN</SMALL>&#146;<SMALL>S</SMALL> <SMALL>TERM</SMALL> <SMALL>UNTIL</SMALL> N<SMALL>OVEMBER</SMALL>&nbsp;15, 2028.
</B></FONT></P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We are asking our stockholders to approve an amendment (the &#147;ESPP Amendment&#148;) to the ResMed Inc. 2009 Employee Stock Purchase Plan, originally
adopted on November&nbsp;13, 2003 and most recently amended on August&nbsp;17, 2018 (the &#147;Current ESPP&#148;). The Current ESPP, as proposed to be amended by the ESPP Amendment is referred to in this proposal as the ESPP. The ESPP is designed
to provide employees with the opportunity to purchase our common stock at a discount through accumulated payroll deductions during successive offering periods. The ESPP Amendment will make the following changes: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Increase the number of shares of our common stock available for future awards under the Current ESPP by 2&nbsp;million
shares, from 4.2&nbsp;million shares to 6.2&nbsp;million shares. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%">&nbsp;</TD>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Extend the term of the Current ESPP so that the ESPP will remain in effect until November&nbsp;15, 2028 (previously
September&nbsp;29, 2019). </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Rename the Current ESPP as the &#147;ResMed Inc. 2018 Employee Stock Purchase Plan.&#148; If our stockholders approve
the ESPP Amendment, we will incorporate the ESPP Amendment and restate the Current ESPP in full, in the form attached as Appendix B to this proxy statement. </P></TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">On August&nbsp;17, 2018, based on the recommendation of the compensation committee, the board approved and adopted the ESPP Amendment (subject to
approval by our stockholders). The ESPP Amendment became effective on adoption by our board (subject to our stockholders&#146; approval). Also on August&nbsp;17, 2018, the board approved certain administrative changes to the ResMed Inc. 2009
Employee Stock Purchase Plan, which do not require stockholder approval, and which therefore became effective on adoption by our board. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">As a
broad-based plan, our ESPP is intended to provide equity grant compensation to many employees who are not eligible for discretionary equity grants, as well as to supplement option grants for management. As a compensation tool, the ESPP will continue
to assist us in: (1)&nbsp;retaining the services of our employees; (2)&nbsp;securing the services of new employees; (3)&nbsp;providing incentives for our employees to exert maximum efforts for our success; and (4)&nbsp;aligning the interests of our
employees with the interests of our stockholders. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The ESPP Amendment is intended to increase the number of shares of our common stock that may be
issued or transferred by awards under the ESPP by 2&nbsp;million shares, from 4.2&nbsp;million shares to 6.2&nbsp;million shares, and to enable us to continue offering the ESPP until November&nbsp;15, 2028. As of September&nbsp;17, 2018, there were
537,876 shares remaining available for future awards under the ESPP. We estimate that approximately 400,000 shares will remain available for future awards at the time of the annual stockholders meeting. Accordingly, the ESPP Amendment would increase
the number of shares available for future awards to approximately 2.4&nbsp;million shares, but no greater than 2,537,876. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">If the ESPP Amendment is
not approved by our stockholders, it will have no effect. However, the Current ESPP will remain in full force and effect through September&nbsp;29, 2019. No shares will be sold under the increase in shares being proposed under the ESPP Amendment
unless our stockholders approve the ESPP Amendment under this proposal. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>MATERIAL CHANGES TO THE CURRENT ESPP </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">As noted above, the aggregate number of shares of our common stock reserved for issuance under the ESPP has been increased by 2&nbsp;million shares to
6.2&nbsp;million shares, the expiration of the term of the ESPP has been extended from September&nbsp;29, 2019 to November&nbsp;15, 2028, and the Current ESPP has been renamed as the &#147;ResMed Inc. 2018 Employee Stock Purchase Plan.&#148; </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>SUMMARY OF THE MATERIAL FEATURES OF THE ESPP </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The principal features of the ESPP are summarized below, but the summary is qualified in its entirety by (1)&nbsp;the ESPP, as amended and restated to
incorporate amendments through August&nbsp;17, 2018, including the ESPP Amendment, which is included as Appendix B to this proxy statement; and (2)&nbsp;the ESPP Amendment, which is included as Appendix C to this proxy statement. We encourage you to
read the ESPP and the ESPP Amendment carefully. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The ESPP is intended to qualify under Section&nbsp;423 of the US Internal Revenue Code, which
affords certain tax benefits under US law to US participants. The ESPP also authorizes the grant of options that are not intended to qualify under </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">17 </P>

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Section&nbsp;423 of the US Internal Revenue Code under <FONT STYLE="white-space:nowrap">&#147;Non-423</FONT> Offerings&#148; of the plan, which will generally be made to <FONT
STYLE="white-space:nowrap">non-US</FONT> employees. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>Plan administration </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The compensation committee administers the ESPP. The compensation committee has discretionary authority to administer and interpret the ESPP, including
authority to: (1)&nbsp;determine when rights (or options) to purchase our common stock are granted and the terms and conditions of each offering period; (2)&nbsp;designate from time to time which of our subsidiaries are participating subsidiaries,
so that employees of those participating subsidiaries may be eligible to participate in the ESPP; (3)&nbsp;construe and interpret the ESPP and the rights offered under the ESPP; (4)&nbsp;establish, amend and revoke rules and regulations for ESPP
administration; (5)&nbsp;amend the ESPP, as explained below; and (6)&nbsp;exercise other powers and perform other acts deemed necessary to carry out the intent of the ESPP. To the extent not prohibited by applicable laws, the compensation committee
may delegate some or all of its authority to a subcommittee, to company officers, or to other persons or groups as it deems necessary, appropriate or advisable. Our board, in its sole discretion, may assume the responsibilities and duties of the
compensation committee under the ESPP. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>Shares available under the ESPP. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The ESPP Amendment increases the maximum number of shares authorized for sale under the ESPP, from 4.2&nbsp;million to 6.2&nbsp;million. This total
number of shares is equal to approximately 4.3% of the total number of our shares of common stock outstanding on September&nbsp;17, 2018. But, as mentioned above, only approximately 2.4&nbsp;million of these would be available for future awards,
representing approximately 1.7% of the stock outstanding. The common stock available for sale under the ESPP may be authorized, but unissued shares, treasury shares or shares purchased in the open market or in private transactions. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>Eligible employees </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Employees eligible to
participate in the ESPP generally include our employees and employees of our subsidiaries that have been designated from time to time by the compensation committee as participating subsidiaries in the ESPP. As of June&nbsp;30, 2018, we had
approximately 5,700 employees who are eligible to participate in the ESPP, including all seven of our executive officers. The compensation committee may, in its sole discretion and consistent with Section&nbsp;423 of the US Internal Revenue Code,
exclude employees who, as of the first date of the offering period, (1)&nbsp;have been employed by us or by a designated subsidiary for less than two years, (2)&nbsp;customarily work five months or less in a calendar year or are customarily
scheduled to work less than 20 hours per week, (3)&nbsp;are a highly compensated employee of ResMed Inc. or any participating subsidiary (within the meaning of Section&nbsp;414(q) of the US Internal Revenue Code), or (4)&nbsp;are a citizen or
resident of a <FONT STYLE="white-space:nowrap">non-US</FONT> jurisdiction, where the grant of an option under the ESPP would be prohibited under the laws of that jurisdiction, or compliance with the laws of that jurisdiction would cause the ESPP to
violate the requirements of Section&nbsp;423 of the US Internal Revenue Code. Any exclusion of employees under offerings of the ESPP that are intended to qualify under Section&nbsp;423 of the US Internal Revenue Code (&#147;Section&nbsp;423
Offerings&#148;) will be applied in an identical manner to all employees of the company and its participating subsidiaries whose employees are granted options under those Section&nbsp;423 Offerings, in accordance with Section&nbsp;423 of the US
Internal Revenue Code. In the case of a <FONT STYLE="white-space:nowrap">Non-423</FONT> Offering, eligible employees may be excluded from participation in the ESPP or an offering if the compensation committee has determined that participation of
such eligible employees is not advisable or practicable for any reason. An employee who owns (or is deemed to own through attribution) 5% or more of the combined voting power or value of all of the classes of our stock or the stock of one of our
subsidiaries is not allowed to participate in the ESPP. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><FONT STYLE="white-space:nowrap">Non-US</FONT>
<FONT STYLE="white-space:nowrap">Sub-plans</FONT> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The ESPP authorizes the compensation committee to adopt rules, procedures, agreements,
appendices, or <FONT STYLE="white-space:nowrap">sub-plans</FONT> (collectively, <FONT STYLE="white-space:nowrap">&#147;Sub-Plans&#148;)</FONT> to ensure that the terms of the ESPP, as applicable to <FONT STYLE="white-space:nowrap">non-US</FONT>
subsidiaries designated as participating subsidiaries, accommodate the requirements of applicable local laws, customs and procedures. These <FONT STYLE="white-space:nowrap">Sub-Plans</FONT> may vary the terms of the ESPP, other than with respect to
the number of shares reserved for issuance under the ESPP. To the extent inconsistent with the requirements of Section&nbsp;423 of the US Internal Revenue Code, any such <FONT STYLE="white-space:nowrap">Sub-Plan</FONT> will be considered part of a <FONT
STYLE="white-space:nowrap">Non-423</FONT> Offering. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>Offering </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Under the ESPP, participants are offered the right to purchase shares of our common stock at a discount during successive offering periods. Each offering
period under the ESPP will be for a period of time determined by the compensation committee of no less than three months and no more than 27 months. Currently, the compensation committee has approved successive
<FONT STYLE="white-space:nowrap">six-month</FONT> offering periods for the ESPP. The first trading day of an offering period is referred to as the date of grant. On the date of grant, participants are granted the right to acquire shares of our
common stock on the last trading day of the offering period. The last trading day during an offering period is referred to as the date of purchase. Unless a participant has previously cancelled participation in the ESPP, the participant will be
deemed to have exercised the right to purchase shares in full as of each date of purchase. At exercise, the participant will purchase the number of shares of common stock that the participant&#146;s accumulated payroll deductions during that
offering will buy at the purchase price for that offering period. The </P>
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purchase price for our common stock under the ESPP will be the lesser of 85% of the fair market value of our common stock on the date of grant or 85% of the fair market value of our common stock
on the date of purchase. The fair market value of our common stock on the current period&#146;s grant date (May&nbsp;1, 2018) was $95.12 and on September&nbsp;17, 2018, was $112.76. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We expect future offering periods to begin on the conclusion of each offering period and continue for a period of six months, unless otherwise
determined by the compensation committee. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>Participation </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Eligible employees can enroll under the ESPP by completing a participation agreement within the time specified by the compensation committee. Each
participation agreement must authorize the deduction of at least 1%, but not more than 50%, of the eligible employee&#146;s ESPP-eligible compensation towards the purchase of our common stock, unless the compensation committee sets a different
maximum percentage. A participant&#146;s authorized payroll deduction will be deducted on each payday during an offering period. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In no case may a
participant be granted an option to purchase shares of common stock under the ESPP that, together with the other options to purchase shares of common stock under all other employee stock purchase plans (if any) of the company or its subsidiary,
accrues at a rate that exceeds $25,000 of the fair market value of the shares of common stock for any calendar year in which the option is outstanding, in accordance with Section&nbsp;423 of the US Internal Revenue Code. In addition, the
compensation committee will place a limit on the maximum number of shares any participant can acquire in a single offering period (this limit is currently 5,000&nbsp;shares and is also subject to the annual $25,000 limit discussed above). If the
aggregate subscriptions by all participants exceed the number of authorized shares of common stock available for purchase under the ESPP, all subscriptions will be reduced on a <FONT STYLE="white-space:nowrap">pro-rata</FONT> basis. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Except as otherwise provided by the compensation committee in the terms of an offering period, a participant may cancel his or her payroll deduction
authorization at any time before the end of the offering period, subject to the ESPP&#146;s notice requirements. On cancellation, the balance of the participant&#146;s account will be refunded in cash, without interest. The compensation committee
may provide that a participant can increase, decrease, or suspend a payroll deduction authorization during an offering period, in accordance with Section&nbsp;423 of the US Internal Revenue Code. Additionally, if a participant ceases to be an
eligible employee during an offering period, that person&#146;s participation in the ESPP will cease and the balance of that participant&#146;s account will be refunded in cash, without interest. In the event of a death of a participant, if the
participant&#146;s option is transferred to the participant&#146;s estate by will or the laws of descent or distribution, the decedent&#146;s balance may continue to be applied for the acquisition of shares at the end of the relevant offering
period. Other than upon a participant&#146;s death, options granted under the ESPP are not transferable by a participant and are exercisable only by the participant. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Subject to the discretion of the compensation committee, if a participant is on a paid leave of absence, the participant&#146;s payroll deductions will
continue and amounts credited to the participant&#146;s account may be used to purchase shares under the ESPP. If a participant is on an unpaid leave of absence, the participant&#146;s payroll deductions will be discontinued and no other
contributions will be permitted, but any amounts credited to the participant&#146;s account may be used to purchase shares on the next applicable purchase date. In any event, where the period of leave exceeds three months and the participant&#146;s
right to reemployment is not guaranteed by statute or by contract, the participant will be deemed to have terminated employment under the ESPP three months and one day following the commencement of leave. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Unless otherwise determined by the compensation committee, a participant whose employment transfers between companies participating in the ESPP will not
be treated as having terminated employment under the plan. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>Adjustments on changes in capitalization, dissolution, liquidation, merger or asset
sale </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In the event of any dividend or other distribution, recapitalization, reclassification, stock split, reverse stock split, reorganization,
merger, consolidation, <FONT STYLE="white-space:nowrap">split-up,</FONT> <FONT STYLE="white-space:nowrap">spin-off,</FONT> combination, repurchase, liquidation, dissolution, sale, transfer, exchange or other disposition of all or substantially all
of our assets, or exchange of shares of our common stock or other securities, issuance of warrants or other rights to purchase shares of our common stock or other securities, or other similar corporate transactions or events, then if the
compensation committee determines that it is appropriate to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the ESPP or with respect to any right under the ESPP, the compensation committee
will adjust the number and kind of shares of securities with respect to which options may be granted, the number and kind of shares of stock subject to outstanding options, and the option price with respect to any option. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">19 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In the event of any transaction or event described above that is an unusual or nonrecurring
transaction or event affecting us, any of our affiliates, or our financial statements or those of any of our affiliates, or of changes in applicable laws, regulations, or accounting principles, the compensation committee may take any one or more of
the following actions whenever the compensation committee determines that it is appropriate to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the ESPP or with respect to any right under the
ESPP, to facilitate the transactions or events or to give effect to the changes in laws, regulations or principles: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">provide that all rights then outstanding under the ESPP will terminate without being exercised on a date the
compensation committee determines in its sole discretion; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">provide that all rights then outstanding under the ESPP will be exercised and terminate immediately after the exercise;
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">provide for either the purchase of any rights then outstanding under the ESPP for an amount of cash equal to the amount
that could have been obtained on the exercise of that right had the right been currently exercisable, or the replacement of the right with other rights or property selected by the compensation committee in its sole discretion; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">provide that rights then outstanding under the ESPP will be assumed by the successor or survivor corporation, or a
parent or subsidiary of the successor or survivor corporation, or will be substituted for by similar rights for the stock of the successor or survivor corporation, or a parent or subsidiary of the successor or survivor corporation, with appropriate
adjustments as to the number and kind of shares and prices; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">make adjustments in the number and type of shares of common stock (or other securities or property) subject to
outstanding rights, or in the terms and conditions of outstanding rights, or rights which may be granted in the future. </P></TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>Amendment and termination </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The compensation
committee may amend, suspend or terminate the ESPP. However, without obtaining stockholder approval within 12 months before or after the action, the compensation committee may not amend the ESPP to either increase the number of shares that may be
purchased under the ESPP or to amend the ESPP in a way that requires stockholder approval under the US Internal Revenue Code. Without stockholder consent and without regard to whether any participant rights may be considered to have been adversely
affected, the board or the compensation committee, as applicable, may change the offering periods, limit the frequency and number of changes in the amount withheld during an offering period, establish the exchange ratio applicable to amounts
withheld in a currency other than US dollars, permit payroll withholding in excess of the amount designated by a participant to adjust for delays or mistakes in our processing of properly completed withholding elections, establish reasonable waiting
and adjustment periods and accounting and crediting procedures to ensure that amounts applied toward the purchase of stock for each participant properly correspond with amounts withheld from the participant&#146;s compensation, and establish other
limitations or procedures the board or the compensation committee, as applicable, determines in its sole discretion advisable which are consistent with the ESPP and Section&nbsp;423 of the US Internal Revenue Code. The ESPP will be in effect until
November&nbsp;15, 2028, unless sooner terminated by our board in accordance with the ESPP. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>CERTAIN US FEDERAL INCOME TAX CONSEQUENCES OF THE
EMPLOYEE STOCK PURCHASE PLAN </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The following discussion is required by rules of the Securities and Exchange Commission, and summarizes the US
federal income tax consequences of an employee&#146;s participation in the ESPP. It does not summarize tax consequences for any employees who are not US taxpayers. This summary does not address federal employment taxes, state, local and <FONT
STYLE="white-space:nowrap">non-US</FONT> income taxes and other taxes that may apply, and is not intended to completely describe the tax consequences of participation in the ESPP. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>Section&nbsp;423 Offerings </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The ESPP is
intended to be an employee stock purchase plan within the meaning of Section&nbsp;423 of the US Internal Revenue Code. Under a plan that so qualifies, no taxable income is recognized by a participant, and no deductions are allowed to us, in
connection with the grant of the option under the plan that occurs on the date of grant (first trading day) of an offering period or the automatic exercise of the option and acquisition of shares under the plan that occurs on the last trading day of
an offering period. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Taxable income will not be recognized until there is a sale or other disposition of the shares acquired under the ESPP or if
the participant dies while still owning the purchased shares. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">20 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">If a participant sells or otherwise disposes of the purchased shares less than two years after the
grant date, or within one year after the purchase date for those shares, then the participant generally will recognize ordinary income equal to the amount by which the fair market value of the shares on the purchase date exceeds the purchase price
paid for those shares, and we generally will be entitled to an income tax deduction equal in amount to the excess (subject to applicable limits under the US Internal Revenue Code). The income is recognized by the participant, and the deduction taken
by us, for the taxable year in which the sale or disposition occurs. The amount of this ordinary income will be added to the participant&#146;s basis in the shares, and any resulting gain or loss recognized upon the sale or disposition will be a
capital gain or loss. If the shares have been held for more than one year since the date of purchase, the gain or loss will be long-term. For purposes of the US Internal Revenue Code, the purchase date means the date the shares are issued on
automatic exercise of the option on the last trading day of the offering period. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">If the participant sells or disposes of the purchased shares more
than two years after the grant date and more than one year after the purchase date for those shares, then the participant will recognize ordinary income equal to the lesser of: (1)&nbsp;the amount by which the fair market value of the shares on the
sale or disposition exceeds the purchase price paid for those shares; or (2)&nbsp;15% of the fair market value of the shares on the grant date for the offering period in which the shares were acquired, and any additional gain on the disposition
generally will be taxed as a long-term capital gain. The income is recognized by the participant for the taxable year in which the sale or disposition occurs. We generally will not be entitled to any income tax deduction with respect to the sale or
disposition. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">If the participant still owns the purchased shares at death, the lesser of: (1)&nbsp;the amount by which the fair market value of the
shares on the date of death exceeds the purchase price; or (2)&nbsp;15% of the fair market value of the shares on the date of grant for the offering period in which those shares were acquired, will constitute ordinary income in the year of death.
</P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><FONT STYLE="white-space:nowrap">Non-423</FONT> Offerings </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">If an option is granted under a <FONT STYLE="white-space:nowrap">Non-423</FONT> Offering of the ESPP, then to the extent a participant is subject to US
federal income tax, the amount equal to the difference between the fair market value of the shares on the purchase date and the purchase price is taxed as ordinary income at the time of the purchase and is subject to tax withholding. The amount of
ordinary income will be added to the participant&#146;s basis in the shares, and any resulting gain or loss recognized on the sale or disposition of the shares will be a capital gain or loss. If the shares have been held for more than one year since
the date of purchase, the gain or loss will be long-term. We generally will be entitled to an income tax deduction in the year of purchase equal to the amount of ordinary income realized by the participant (subject to applicable limits under the US
Internal Revenue Code). </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>PLAN BENEFITS FOR DIRECTORS </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Directors who are not employees will not receive any benefits under the ESPP and may not participate in the ESPP. Peter Farrell, our chairman of the
board and <FONT STYLE="white-space:nowrap">non-officer</FONT> employee, will not participate in the ESPP. Dr.&nbsp;Farrell previously irrevocably elected not to participate in the ESPP. If Dr.&nbsp;Farrell were to elect to participate in the ESPP,
we would seek stockholder approval, and would not issue any shares to Dr.&nbsp;Farrell under the ESPP before obtaining stockholder approval. Because the number of shares that may be purchased under the ESPP will depend on each employee&#146;s
voluntary election to participate and on the fair market value of our ordinary shares at various future dates, the actual number of shares that may be purchased by any individual cannot be determined in advance. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>SHARES PURCHASED UNDER THE ESPP </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The
following table shows the number of shares of our common stock purchased by employees, including our named executive officers, and the other identified individuals and groups under options granted under the ESPP from its inception through
September&nbsp;17, 2018. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="68%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="16%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"><B>Name</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Options<SUP STYLE="font-size:85%; vertical-align:top">&nbsp;
(a)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Weighted&nbsp;average<BR>exercise&nbsp;price<SUP STYLE="font-size:85%; vertical-align:top">&nbsp;(a)</SUP></B></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Named&nbsp;executive&nbsp;officers</B></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Michael Farrell</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7">3,297</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$35.41</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Rob Douglas</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7">3,440</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$39.33</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Jim Hollingshead</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7">3,291</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$41.22</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">David Pendarvis</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7">14,121</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$21.29</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Brett Sandercock</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7">2,748</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$41.79</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>All current executive officers as a group</B></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>30,564</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"><B>$28.98</B></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">21 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="68%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="16%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>All&nbsp;current&nbsp;directors&nbsp;or&nbsp;nominees,&nbsp;who&nbsp;are&nbsp;not&nbsp;executive&nbsp;officers, as&nbsp;a group</B></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">-&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">-&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Current&nbsp;directors&nbsp;or&nbsp;nominees,&nbsp;who&nbsp;are&nbsp;not&nbsp;executive&nbsp;officers</B></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Carol Burt</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">-&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">-&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Karen Drexler</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">-&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">-&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Peter Farrell</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">-&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">-&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Harjit Gill</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">-&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">-&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Gary Pace</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">-&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">-&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Rich Sulpizio</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">-&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">-&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Ron Taylor</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">-&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">-&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Jack Wareham</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">-&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">-&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Associate of any directors, executive officers or nominees</B></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">-&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">-&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>Other persons who received or are to receive 5% of such options or rights</B></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">-&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">-&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>All <FONT STYLE="white-space:nowrap">non-executive</FONT> officer employees as a group</B></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"><B>3,617,148</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"><B>$35.88</B></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="97%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(a)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.50em; font-size:8pt; font-family:ARIAL">These amounts represent a good faith estimate based on the data available.</P></TD></TR>
</TABLE> <P STYLE="font-size:20pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" BGCOLOR="#54a0ff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#FFFFFF"><B>BOARD RECOMMENDATION</B></FONT></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#FFFFFF"><B>YOUR BOARD OF DIRECTORS RECOMMENDS A VOTE
&#147;FOR&#148; APPROVAL OF THE AMENDMENTS TO THE RESMED INC. 2009 EMPLOYEE STOCK PURCHASE PLAN.</B></FONT></P> <P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">22 </P>

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<p Style='page-break-before:always'>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13.5pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_8"></A>P<SMALL>ROPOSAL</SMALL>
4:&nbsp;A<SMALL>DVISORY</SMALL> VOTE TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION </B></FONT></P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" BGCOLOR="#54a0ff"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B>&nbsp;Background&nbsp;</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We are asking our stockholders to approve, on a <FONT STYLE="white-space:nowrap">non-binding,</FONT> advisory basis, the
compensation of our named executive officers as described in the &#147;Compensation Discussion and Analysis&#148; and &#147;Executive Compensation Tables&#148; sections of this Proxy Statement on pages 40 through 75. This proposal is commonly known
as a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">&#147;say-on-pay&#148;</FONT></FONT> proposal. We currently provide an annual <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">say-on-pay</FONT></FONT> vote for
our stockholders. Because the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">say-on-pay</FONT></FONT> vote is advisory, it does not bind us. But the board&#146;s compensation committee, which consists entirely of independent
directors, values our stockholders&#146; opinions, and considers voting results on the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">say-on-pay</FONT></FONT> proposal when making its executive compensation decisions. The board
has adopted a policy of providing for annual <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">say-on-pay</FONT></FONT> advisory votes. Unless the board modifies its policy on the frequency of future <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">say-on-pay</FONT></FONT> advisory votes, the next <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">say-on-pay</FONT></FONT> advisory vote will be held at our 2019 annual meeting of stockholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The board believes that the information in the &#147;Compensation Discussion and Analysis&#148; and &#147;Executive Compensation Tables&#148; sections
of this Proxy Statement demonstrates that our executive compensation programs are designed appropriately, emphasize pay for performance, and are working to ensure that management&#146;s interests are aligned with our stockholders&#146; interests to
support long-term value creation. The board is asking our stockholders to approve the following advisory resolution at the annual meeting: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:ARIAL" ALIGN="justify">&#147;RESOLVED, that the stockholders of ResMed approve, on an advisory basis, the compensation paid to our named executive officers, as
disclosed in the Compensation Discussion and Analysis and Executive Compensation Tables sections of this proxy statement.&#148; </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" BGCOLOR="#54a0ff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#FFFFFF"><B>BOARD&nbsp;RECOMMENDATION</B></FONT></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#FFFFFF"><B>YOUR BOARD OF DIRECTORS RECOMMENDS A VOTE
&#147;FOR&#148; APPROVAL, ON AN ADVISORY BASIS, OF THE COMPENSATION OF RESMED&#146;S NAMED EXECUTIVE OFFICERS.</B></FONT></P> <P STYLE="font-size:20pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">23 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13.5pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_9"></A>C<SMALL>OMPANY</SMALL> INFORMATION
</B></FONT></P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">24 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13.5pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_10"></A>C<SMALL>ORPORATE</SMALL>
<SMALL>GOVERNANCE</SMALL> </B></FONT></P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_11"></A>&nbsp;Board&nbsp;independence&nbsp;</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:22pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Our board has determined that six of our eight current directors, Ms.&nbsp;Burt, Ms.&nbsp;Drexler, and Messrs. Pace,
Sulpizio, Taylor and Wareham, are independent members of our board under the listing standards of the NYSE, and they and their respective family members have no material relationship with us, commercial or otherwise, that would impair the
director&#146;s independence. The board has also determined that, if elected, Ms.Gill will also be independent. The board also determined that each member of the audit, nominating and governance, and compensation committees is independent as
required by the NYSE&#146;s listing standards, and that each member of the audit committee is independent as required by the SEC&#146;s regulations. The board determined that Peter Farrell and Michael Farrell have material relationships with us that
prohibit them from being considered independent under applicable standards: Michael Farrell is an executive officer; while Peter Farrell is a <FONT STYLE="white-space:nowrap">non-executive</FONT> employee, the father of Michael Farrell, and was an
executive officer through January 2014. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The following specific relationships or transactions were considered by our board in making its
independence decisions, and the board concluded none of them impaired independence: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">We hold two equity investments in entities affiliated with Dr.&nbsp;Pace. Our board approved these investments at the
time they were made, without Dr.&nbsp;Pace&#146;s participation. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">In fiscal years 2011 and 2012, we invested a total of approximately $500,000 in Sova Pharmaceuticals, a pharmaceutical
development company targeting central sleep apnea. As of fiscal <FONT STYLE="white-space:nowrap">year-end</FONT> 2018, we continued to hold our equity investment, representing an ownership interest of about 6%. Dr.&nbsp;Pace is a founder and
director of Sova, and has a nominal equity investment in it. He is not a controlling shareholder of Sova. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">In fiscal years 2012 and 2013, we invested a total of approximately $1.075&nbsp;million in Sanitas, Inc., a remote
health-management software company. As of fiscal <FONT STYLE="white-space:nowrap">year-end</FONT> 2018, we continued to hold our equity investment, representing an ownership investment of about 12.5%. Dr.&nbsp;Pace holds an equity investment of
approximately $50,000 in Sanitas. He is not a controlling shareholder of Sanitas. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">We have several long-tenured directors. Dr.&nbsp;Pace, who served as a director for more than 20 years, is not standing
for <FONT STYLE="white-space:nowrap">re-election</FONT> at this annual meeting. Messrs. Sulpizio, Taylor, and Wareham have served for more than 10 years. The board considers that the length of their tenure had not compromised their independence; in
fact, in the board&#146;s view, the depth of their knowledge and insight with the company has strengthened their contributions to our board. The nominating and governance committee believes board composition and an appropriate balance of board
refreshment and experience is important to effective governance, and follows a process of regularly reviewing board composition and board refreshment, with a long-term perspective. While refreshment is an important consideration in assessing board
composition, the board does not make determinations based solely on tenure. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Our board determined that these matters did not
prevent Dr.&nbsp;Pace or Messrs. Sulpizio, Taylor, or Wareham from being considered independent under applicable standards. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_12"></A>&nbsp;Meetings&nbsp;and&nbsp;director&nbsp;attendance&nbsp;
</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">During fiscal year 2018, each director attended more than 75% of the meetings of our board and of the committees on
which the director served. Our board and standing committees met, as follows: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Regular board: five meetings; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Compensation committee: four meetings; </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Audit committee: eight meetings; and </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Nominating and governance committee: four meetings. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">During each regular meeting, our independent directors met alone, and our lead director chaired those sessions. In addition to meetings, the members of
our board and its committees sometimes take action by written consent in lieu of a meeting, as permitted under Delaware corporate law, or discuss company business without calling a formal meeting. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">25 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">All but one of our directors were present for our 2017 (and the lone director&#146;s absence was due
to an unexpected family emergency) annual stockholders meeting. We encourage directors to attend our annual meetings and generally schedule board meetings to coincide with the annual meeting to facilitate directors&#146; attendance. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B>&nbsp;<A NAME="toc612931_13"></A>Board&nbsp;oversight&nbsp;of&nbsp;risk&nbsp;
</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The general risk oversight function, including cybersecurity, is retained by the full board; the standing committees of
the board, comprised and chaired by our independent directors, retain primary responsibility for risk identification and analysis in the key areas further defined below. The committees periodically provide updates to the board regarding significant
risk management issues and management&#146;s response. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="33%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="65%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"><B>Committee</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"><B>Primary risk oversight responsibility</B></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.30em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Audit</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1.00pt solid #478ef7; BORDER-BOTTOM:1.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1.00pt solid #478ef7; BORDER-BOTTOM:1.00pt solid #478ef7; padding-right:2pt">Overseeing financial risk, capital risk, financial compliance risk, code of conduct and ethics compliance, and internal controls
over financial reporting.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.30em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Compensation</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">Overseeing our compensation philosophy and practices and evaluating the balance between risk-taking and rewards to senior
officers.</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.30em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Nominating and
governance</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">Evaluating each director&#146;s independence, evaluating the effectiveness of our corporate governance guidelines, and overseeing
management&#146;s succession planning.</TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Designated internal management, as well as certified professional accounting firms performing annual internal audits,
regularly review and test functions, controls and processes to review, evaluate and recommend mitigation strategies, as may be warranted. Critical areas of focus include financial, operational, regulatory, compliance, economic, compensation, and
competition, among others. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_14"></A>&nbsp;Board&nbsp;leadership&nbsp;structure&nbsp;</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We have separated the roles of board chairman and chief executive officer. Peter&nbsp;Farrell has served as our chairman
of the board since 1989; he concurrently served as our chief executive officer from shortly after our founding in 1989, through January 2008, and from February 2011 through March 2013. In March 2013, on the appointment of Michael Farrell as our new
chief executive officer, Peter&nbsp;Farrell resigned as chief executive officer, and continued in the role of executive chairman. In January 2014, Peter&nbsp;Farrell ceased serving as an executive officer; since then he has served as a <FONT
STYLE="white-space:nowrap">non-officer</FONT> employee and as <FONT STYLE="white-space:nowrap">non-executive</FONT> chairman of the board. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The
board continues to believe that having Peter&nbsp;Farrell serve as the chairman of the board is the most appropriate leadership structure for us and in the best interest of our stockholders. Dr.&nbsp;Farrell is our founder, has been our chairman
since our founding in 1989, and previously served as our chief executive officer for over 20 years. Dr.&nbsp;Farrell has deep institutional knowledge about our organization&#146;s history and operations, the industry, the science underlying the
medical conditions we address and the technology we develop. Dr.&nbsp;Farrell is widely regarded as a visionary leader in our industry. Under his leadership, the board believes we have achieved remarkable success and delivered substantial long-term
rewards for our stockholders. Maintaining him in the role of chairman provides leadership continuity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The board believes the advantages described
above outweigh any theoretical risks or disadvantages arising from Peter&nbsp;Farrell&#146;s role as an employee, or from his serving as chairman while his son, Michael&nbsp;Farrell, serves as chief executive officer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">First, the board believes that Dr.&nbsp;Farrell is uniquely suited to effectively perform the dual roles of providing leadership to the board as
chairman, and serving as an employee, in which he provides guidance to management, particularly in the areas of long-term strategy, consulting with key opinion leaders in related fields, and maintaining our unique values and culture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">26 </P>

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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Second, the board believes our leadership structure mitigates any potential risks from the family
relationship between Peter&nbsp;Farrell and Michael Farrell. Six of our eight current directors, as well as our new board nominee, Harjit Gill, are independent, which provides a counterbalance to a
<FONT STYLE="white-space:nowrap">non-independent</FONT> employee chairman. Those independent directors meet in executive session, alone, at each board meeting. The role of Ron Taylor, our lead director, provides an additional structure enabling an
effective independent board. The primary responsibilities of the lead director are: to preside over board meetings in the absence of the chairman; call, establish the agenda for, and preside over meetings of the independent directors; act as a
liaison between the independent directors and chairman; guide the chairman on board meeting agendas as well as the adequacy of information to be presented; communicate with stockholders as appropriate; and other duties that may be delegated by the
board, independent directors, chairman or the nominating and governance committee. Finally, the board&#146;s committees are filled entirely by independent directors, providing an opportunity for the board to fulfill its oversight responsibilities.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">For the reasons discussed above, our board believes the current leadership structure is in our best interest at this time. However, our corporate
governance guidelines give the board the flexibility to change its leadership over time, as needed. The board continues to evaluate whether its leadership structure is appropriate as our business evolves. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_15"></A>Committees&nbsp;of&nbsp;our&nbsp;board&nbsp;of&nbsp;directors&nbsp;
</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The board has three standing committees to assist in the management of our affairs: compensation, nominating and
governance, and audit. A copy of the charters for each of these standing committees can be found on our website at www.resmed.com. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Below is a
summary of our current committee structure and membership information. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD></TD>
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<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Independent</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>director</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compensation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>committee</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nominating&nbsp;and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>governance</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>committee</B></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Audit</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;committee&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Carol Burt</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">-</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">-</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">chair</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Karen Drexler</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">member</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">-</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">-</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Gary Pace</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">member</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">member</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Rich Sulpizio</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">chair</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">-</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">-</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Ron Taylor</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">chair</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">member</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Jack Wareham</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">-</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">member</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">member</TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We anticipate that, after the annual meeting, assuming stockholders elect the director candidates nominated by the
board, our committee structure will change to the following: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="94%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Independent</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>director</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compensation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>committee</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nominating&nbsp;and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>governance</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>committee</B></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Audit</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;committee&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Carol Burt</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">-</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">-</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">chair</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Karen Drexler</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">member</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">-</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">-</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Harjit Gill</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">member</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Rich Sulpizio</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">chair</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">member</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">-</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Ron Taylor</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">chair</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">member</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Jack Wareham</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">-</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">member</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.70pt solid #478ef7">member</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">27 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Compensation committee </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">During fiscal year 2018, and currently, the compensation committee has been chaired by Rich Sulpizio, and Gary Pace has been a member. From
July&nbsp;through November 2017, Ron Taylor was a member of the committee. Karen Drexler began serving as a member from November 2017 through currently. Each of the compensation committee members has been determined by our board to meet the
independence requirements for compensation committee service under the current listing standards of the NYSE and SEC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The compensation
committee&#146;s primary purposes are to: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">establish and review the compensation of our officers and executives; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">oversee management&#146;s decisions regarding our compensation philosophies, practices, and procedures; and
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">advise the board regarding the compensation of directors. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The compensation committee meets in person and by telephone to perform its duties. It works primarily with&nbsp;our chief human resources officer, our
chief administrative officer and global general counsel, and their staff to gather internal data and solicit management&#146;s recommendations regarding compensation. The committee also communicates directly with our chief executive officer and our
president and chief operating officer, for recommendations and information, particularly with regard to their direct reports&#146; compensation. In addition, the committee consults with our chief financial officer and his staff regarding the
financial impact of certain compensation decisions. However, the committee generally determines the compensation for each of our individual officers outside the presence of the affected officer. The committee also advises and consults with other <FONT
STYLE="white-space:nowrap">non-executive</FONT> board members as it determines appropriate regarding compensation issues. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">During fiscal year 2018,
the committee has retained a nationally-recognized independent consultant, Frederic&nbsp;W.&nbsp;Cook&nbsp;&amp; Co., Inc. (&#147;FW Cook&#148;). FW Cook is engaged directly by the committee to render advisory services and to serve as the
committee&#146;s independent consultant on compensation-related matters for our executives and board. During fiscal year 2018, these compensation matters included: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">our executive compensation program, including salaries, target and actual short-term incentive amounts, and long-term
incentive equity grants; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">aggregate equity pay practices at our peer group companies, including long-term incentive design features and
alternatives; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">board compensation, including board fees and equity grants; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">industry trends, best practices, and regulatory changes; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">companies included in our peer group for competitive comparisons. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">During fiscal year 2018, Aon plc provided the committee with calculations of total shareholder return to evaluate performance metrics under our
performance stock units. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The committee has reviewed the independence of FW Cook and Aon, including considering the factors required by NYSE listing
standards. After the review, the committee determined that each of FW Cook and Aon is independent and that no conflict of interest exists that would prevent them from providing independent and objective advice to the committee. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">During fiscal year 2018, the committee continued its practice of delegating to a subcommittee comprised of our chief executive officer, our chief human
resources officer, and our chief administrative officer and global general counsel, authority to approve the annual&nbsp;and&nbsp;promotional and new hire equity award grants to employees who were not officers and whose compensation is not reviewed
by the committee, so long as the aggregate total of those equity grants did not exceed committee-established limits for the annual and <FONT STYLE="white-space:nowrap">off-cycle</FONT> grants, and were consistent with committee-determined standard
terms for grants and other guidelines. During fiscal year 2018, under this authority, this subcommittee granted 566,279 restricted stock units. The committee believes that this subcommittee is best suited to determine the specific annual awards to
be allocated to the individual employees below the officer level given their familiarity with their performances and responsibilities. In addition, the <FONT STYLE="white-space:nowrap">off-cycle</FONT> delegation enhances our ability to attract,
reward and retain talented employees by allowing management to extend binding employment offers and to act in other special situations quickly and flexibly. All equity grants to our executive officers are
<FONT STYLE="white-space:nowrap">pre-approved</FONT> by the committee. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">28 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Nominating and governance committee </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">During fiscal year 2018, and currently, the nominating and governance committee consists of Ron Taylor (chair), Gary Pace and Jack Wareham. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The nominating and governance committee&#146;s primary purposes are to: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">assure that the composition, practices and operation of our board contribute to lasting value creation and effective
representation of our stockholders; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">assist the board with selecting board and committee members, committee selection and rotation practices, evaluating the
board&#146;s overall effectiveness, and reviewing and considering developments in corporate governance practices. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Our corporate
governance guidelines state goals regarding composition of the board and committees, meetings and expectations of directors. A copy of our corporate governance guidelines may be found on our website at www.resmed.com. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The nominating and governance committee is responsible for reviewing with the board, on an annual basis, the appropriate characteristics, skills and
experience required for the board as a whole and its individual members. To assist in promoting a diversity of backgrounds and experience on the board, the nominating and governance committee takes reasonable steps to identify and consider board
candidates who are drawn from a wide talent pool, representing diversity of thought, culture, gender, ethnicity, race, background and other qualities. The nominating and governance committee believes board composition and an appropriate balance of
board refreshment and experience is important to effective governance, and follows a process of regularly reviewing board composition and board refreshment, with a long-term perspective. The nominating and governance committee maintains a database
of desired director skills and experience, and a pipeline of qualified candidates. 2018 will be the second year in a row we have replaced our longest serving independent director with a newly-elected director with a unique set of skills and
experience. We expect the average tenure of our independent directors after the November 2018 annual meeting will be approximately seven and <FONT STYLE="white-space:nowrap">one-half</FONT> years. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The suitability of individual candidates depends on many factors. Those factors include: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">fundamental qualities of intelligence, honesty, good judgment, high ethics and standards of integrity, fairness and
responsibility; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">practical wisdom and mature business judgment; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">ability to make independent analytical inquiries, general understanding of marketing, finance and other elements
relevant to the success of a publicly-traded company in today&#146;s business environment; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">experience in corporate management, or as a board member of a publicly-held company; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">academic experience and technical understanding in the area of our operations; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">professional experience in our industry; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">a commitment to representing the long-term interests of our stockholders. </P></TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The board evaluates each individual in the context of the board as a whole, with the objective of assembling a group that can best perpetuate the
success of the business and represent stockholder interests through the exercise of sound judgment using its diversity of experience in these various areas. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In determining whether to recommend a director for <FONT STYLE="white-space:nowrap">re-election,</FONT> the nominating and governance committee also
considers the director&#146;s past attendance at meetings and participation in and contributions to the board&#146;s activities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">During fiscal year
2018, the nominating and governance committee retained an executive search firm, cStone&nbsp;&amp; Associates, to conduct a search for director candidates, based on criteria approved by the committee. The search firm identified potential candidates,
who were reviewed by the committee. The committee agreed on a slate of candidates for further consideration. The nominating and governance committee asked an ad hoc committee on new board member selection to assist in preliminary interviews of
candidates. The ad hoc committee was appointed by the board in May 2017; chaired by our lead director, Ron Taylor, with additional members Peter Farrell and Michael Farrell. The ad hoc committee&#146;s primary responsibility was to organize and
conduct interviews and otherwise evaluate potential board candidates selected by the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">29 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">
nominating and governance committee. The ad hoc committee reported its assessments to the nominating and governance committee, and the nominating and governance committee used that input to aid
in its independent decisions on how to further evaluate&#151;and ultimately nominate&#151;appropriate candidates. The ad hoc committee&#146;s activity did not limit the pool of nominees the full nominating and governance committee considers, and all
decisions were made by the independent directors who comprise the nominating and governance committee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">After review and deliberation of all
feedback and data, the nominating and governance committee makes its recommendation to our board. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Recommendations we receive from stockholders are
subject to the same criteria as are candidates nominated by the nominating and governance committee. The committee will consider stockholder suggestions for nominees for directorship and has a policy to consider any candidate recommended by
stockholders who have held a minimum of 1% of our outstanding voting securities for at least one year. A recommending stockholder must submit a detailed resume of the candidate and an explanation of the reasons why the stockholder believes the
candidate is qualified for service on our board. The stockholder must also provide any other information about the candidate that would be required by US SEC rules to be included in a proxy statement. In addition, the stockholder must include the
consent of the candidate (including the consent to a background check) and describe any relationships, arrangements or undertakings between the stockholder and the candidate regarding the nomination or otherwise. The stockholder must submit proof of
ownership of our stock. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">All communications should be submitted in writing to the chair of the nominating and governance committee, care
of&nbsp;Secretary, ResMed Inc., 9001 Spectrum Center Boulevard, San Diego, California 92123 USA. Recommendations received after 70 days before the anniversary of the prior year&#146;s annual meeting will likely not be considered timely for
consideration at that year&#146;s annual meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The nominating and governance committee will consider stockholder recommendations of candidates
on the same basis as it considers all other candidates. For further information, see &#147;Stockholder proposals for 2018 annual meeting.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Audit committee </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">At the beginning of
fiscal year 2018, through November 2017, our audit committee consisted of Jack Wareham (chair), Carol Burt, and our former director Chris Roberts. In November 2017, Mr.&nbsp;Roberts did not stand for
<FONT STYLE="white-space:nowrap">re-election</FONT> to the board, and Ron Taylor joined the audit committee. Also in November 2017, Ms.&nbsp;Burt began chairing the committee. From November 2017 through currently, the committee&#146;s membership has
not changed. Each of the audit committee members serving during fiscal year 2018 has been determined by our board to be financially literate and meet the other requirements for audit committee service under the current listing standards of the NYSE
and SEC. In addition, our board has identified all members of the audit committee (during fiscal year 2018 and currently) as financial experts under the SEC&#146;s requirements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The audit committee&#146;s primary purposes are to assist the board with its oversight responsibilities regarding: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">management&#146;s conduct of, and the integrity of our financial reporting; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">our systems of internal control over financial reporting and disclosure controls and procedures; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">compliance with our code of conduct and ethics; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">qualifications, engagement, compensation, independence, and performance of our independent registered public accounting
firm. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_16"></A>Communications&nbsp;with&nbsp;our&nbsp;board&nbsp;of&nbsp;
directors</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Any interested person, including any stockholder, may communicate with our
<FONT STYLE="white-space:nowrap">non-employee</FONT> board members by written mail addressed to the chairman of the nominating and governance committee, care of Secretary, ResMed&nbsp;Inc., 9001 Spectrum Center Boulevard, San Diego, California 92123
USA. We encourage stockholders to include proof of ownership of our stock in their communications. The secretary will forward all communications to the chairman of the nominating and governance committee. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">30 </P>

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<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="86%"></TD></TR>


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<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_17"></A>Code&nbsp;of&nbsp;ethics</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We have a code of business conduct and ethics for directors, officers and employees, which can be found at
investor.resmed.com. The code summarizes the compliance and ethical standards and expectations we have for all of our officers, directors and employees, including our chief executive officer and senior financial officers, with respect to their
conduct in connection with our business. Our code of business conduct and ethics constitutes our code of ethics within the meaning of Section&nbsp;406 of the Sarbanes-Oxley Act of 2002 and the NYSE listing standards. We will disclose future
amendments to or waivers of certain provisions of our code of business conduct and ethics applicable to our principal executive officer, principal financial officer, principal accounting officer, controller and individuals performing similar
functions on our website at www.resmed.com within five business days or as otherwise required by the SEC or the NYSE. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_18"></A>Pledging&nbsp;and&nbsp;hedging&nbsp;company&nbsp;stock&nbsp;
prohibited</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We have a policy prohibiting our directors, officers, and other employees from hedging or pledging their ResMed stock.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">31 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13.5pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_19"></A>D<SMALL>IRECTOR</SMALL>
<SMALL>COMPENSATION</SMALL> &#151; 2018 </B></FONT></P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_20"></A>Fiscal&nbsp;year&nbsp;2018&nbsp;program&nbsp;&#150;&nbsp;
cash</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Our <FONT STYLE="white-space:nowrap">non-executive</FONT> director cash compensation program for fiscal year 2018
included the following: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="73%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="25%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fee&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Annual retainer</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">$65,000</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Additional retainer to members of standing committees</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">None</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Additional annual retainer to lead director</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">$20,000</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Additional annual retainer to audit committee chair</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">$18,000</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Additional annual retainer to compensation committee chair</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">$15,000</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Additional annual retainer to nominating and governance committee chair</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">$10,000</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Per meeting fee</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">None</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Retirement benefits</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">None</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_21"></A>Fiscal&nbsp;year&nbsp;2018&nbsp;program&nbsp;&#150;&nbsp;
equity</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">During fiscal year 2018, as in past years, on our annual stockholders meeting date we awarded equity grants to our <FONT
STYLE="white-space:nowrap">non-executive</FONT> directors with a grant date fair value of $250,000. Our <FONT STYLE="white-space:nowrap">non-executive</FONT> directors had the opportunity to elect to receive their equity grant in the form of:
(1)&nbsp;100% options; (2)&nbsp;100% restricted stock units, or (3)&nbsp;50% options and 50% RSUs. Five directors chose 100% RSUs; and two chose 100% options. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The number of options and RSUs we granted was based on a relative fair value calculation prepared by an outside consulting firm. Subject to continued
service, RSUs and options vest in full on the earlier of:&nbsp;(1)&nbsp;November&nbsp;11 in the year after the grant date, or (2)&nbsp;the date of the first annual meeting of stockholders following the grant date. The board believes that our equity
ownership guidelines are sufficient to promote long-term ownership and align our directors with our stockholders. More information on our director ownership guidelines is in the section below, <I>Equity ownership guidelines. </I> </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_22"></A>No&nbsp;changes&nbsp;for&nbsp;fiscal&nbsp;year&nbsp;
2018</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The fiscal year 2018 director compensation program had the same structure and value as fiscal years 2014, 2015, 2016 and
2017. Fiscal year 2018 marks the fifth consecutive year we have not increased board compensation. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_23"></A>Compensation&nbsp;philosophy</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The compensation committee reviews <FONT STYLE="white-space:nowrap">non-executive</FONT> director compensation on an
annual basis, including reports from FW&nbsp;Cook, the committee&#146;s independent compensation consultant. After its review, the committee makes recommendations on <FONT STYLE="white-space:nowrap">non-executive</FONT> director compensation to the
board, and the board makes the final determination regarding <FONT STYLE="white-space:nowrap">non-executive</FONT> director compensation. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Dual listing; US pay model.</I></B>&nbsp;The compensation committee and board review data on both US peers and Australian peers, reflecting the
company&#146;s dual-listing locations. Australia and the US generally have different pay philosophies for compensating <FONT STYLE="white-space:nowrap">non-executive</FONT> directors. ResMed&#146;s Australian peers generally pay <FONT
STYLE="white-space:nowrap">non-executive</FONT> directors higher cash, award little or no equity, and have overall lower compensation than ResMed&#146;s US peers. While the board considers Australian peer data, the board believes the most relevant
peers for ResMed director compensation are US peers. ResMed&#146;s primary listing is on the NYSE, we are primarily subject to US corporate governance requirements and risks, and our headquarters and all but one of our continuing directors and
nominee reside in the US. In addition, this <FONT STYLE="white-space:nowrap">US-perspective</FONT> is consistent with our executive compensation philosophy (which gives more weight to ResMed&#146;s US peer&#146;s pay practices), and more directly
aligns the interests of our board members with that of our stockholders through ownership of equity. Finally, we do not wish to create internal or cultural divisions by using significantly differentiated pay models between directors based in the US
and other countries. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">32 </P>

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<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_24"></A>Compensation&nbsp;process&nbsp;&nbsp;</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In February&nbsp;and May 2018, the board and compensation committee reviewed director compensation. As part of this
review, they considered FW Cook&#146;s report covering cash and equity compensation, compared to a peer group of 17 medical device and medical technology companies in the US, and a group of 13 Australian-based peers. The report used the same peer
groups used to benchmark ResMed&#146;s executive compensation for fiscal year 2018. More information on the peer groups is included in the section in our Compensation Discussion and Analysis section entitled <I>&#147;Peer group comparison.&#148;</I>
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">At our 2017 annual stockholder meeting, as part of approval of the amendment and restatement of our 2009 Incentive Award Plan, our shareholders
approved a $700,000 annual limit on combined cash and equity compensation for service as our <FONT STYLE="white-space:nowrap">non-employee</FONT> director. In 2017, the cash and equity compensation paid for service as
<FONT STYLE="white-space:nowrap">non-employee</FONT> directors ranged from $315,017 to $345,017. Peter Farrell&#146;s compensation for service as an employee is not covered by this limitation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">After considering the FW Cook report and the compensation committee&#146;s recommendation, in May 2018 the board agreed to keep <FONT
STYLE="white-space:nowrap">non-executive</FONT> director compensation at the same value as has been in effect since fiscal year 2014. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Each year,
the committee also considered the structure of our <FONT STYLE="white-space:nowrap">non-executive</FONT> director equity program. Although our Australian peer group companies do not typically make equity grants to their <FONT
STYLE="white-space:nowrap">non-executive</FONT> directors, the practice is routine in the US. All but one of our US peers grant equity to the <FONT STYLE="white-space:nowrap">non-executive</FONT> directors, and as of May 2018, all those granting
used full value shares, while 40% of them also granted stock options or stock appreciation rights. Given this prevalence, and consistent with the <FONT STYLE="white-space:nowrap">US-based</FONT> compensation philosophy described above, the board and
committee decided to continue the equity structure of ResMed&#146;s <FONT STYLE="white-space:nowrap">non-employee</FONT> director program. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The
compensation committee and board will continue to monitor compensation trends, competitive practices, tax regulations, and other matters related to <FONT STYLE="white-space:nowrap">non-executive</FONT> director compensation, and make adjustments as
appropriate. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_25"></A>Equity&nbsp;ownership&nbsp;guidelines</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Each <FONT STYLE="white-space:nowrap">non-executive</FONT> director is expected to hold ResMed stock with a value of at
least five times the annual cash retainer (a total value of $325,000 based on the fiscal year 2018 retainer and guidelines). New directors must meet this guideline within five years after their appointment to the board. If the guideline is not met,
the director must retain shares equal to 50% of the <FONT STYLE="white-space:nowrap">after-tax</FONT> value of shares acquired on any restricted stock vesting or stock option exercise until the director&#146;s guidelines are met. As of the record
date, each of our <FONT STYLE="white-space:nowrap">non-executive</FONT> directors met the equity ownership guidelines. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_26"></A>New&nbsp;directors</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We <FONT STYLE="white-space:nowrap">pro-rate</FONT> value-based equity awards and retainers for all new directors (for
the period between their start date and the next annual meeting or service period, respectively). We do not provide new directors with any initial inducement equity awards that are greater than or in addition to the
<FONT STYLE="white-space:nowrap">pro-rated</FONT> annual grant amount. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_27"></A>Executive&nbsp;directors</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Our chief executive officer does not receive additional compensation for his service as director. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_28"></A>No&nbsp;changes&nbsp;for&nbsp;fiscal&nbsp;year&nbsp;
2019</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In May 2018, after considering market data prepared by FW Cook, the board decided that the <FONT
STYLE="white-space:nowrap">non-executive</FONT> directors&#146; compensation program for fiscal year 2019 will remain the same as has been in effect since fiscal year 2014. The board has maintained that decision to date in fiscal year 2019. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">33 </P>

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<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_29"></A><FONT STYLE="white-space:nowrap">Non-executive&nbsp;chairman&#146;s&nbsp;
compensation</FONT></B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Since January 2014, Dr.&nbsp;Farrell has served as our <FONT STYLE="white-space:nowrap">non-executive</FONT> chairman, as
well as a <FONT STYLE="white-space:nowrap">non-officer</FONT> employee of the company. Dr.&nbsp;Farrell receives separate compensation for each of these roles. During fiscal year 2018, as our <FONT STYLE="white-space:nowrap">non-executive</FONT>
chairman, he was provided the regular board retainer of $65,000, and the regular board equity grant with a value of $250,000, on the same terms as the other <FONT STYLE="white-space:nowrap">non-executive</FONT> board members. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">During fiscal year 2018, in connection with his service as a <FONT STYLE="white-space:nowrap">non-officer</FONT> employee, Dr.&nbsp;Farrell was also paid
an annual salary of $300,000, which was the same as the annualized salary he began receiving in January 2014, when he transitioned into the role of <FONT STYLE="white-space:nowrap">non-officer</FONT> employee. Dr.&nbsp;Farrell is not eligible to
participate in the annual short-term incentive program or the long-term incentive equity programs that we provide to our employees. During fiscal year 2018, we provided benefits and perquisites to Dr.&nbsp;Farrell in his role as <FONT
STYLE="white-space:nowrap">non-officer</FONT> employee, that were broadly consistent with those provided to our executive officers, as described in &#147;Compensation Discussion and Analysis.&#148; The incremental cost to us for these benefits is
described in the fiscal year 2018 compensation table below. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We continue to have an executive agreement with Dr.&nbsp;Farrell that provides him with
benefits in the event of a change of control. The program is described in detail in &#147;Compensation Discussion and Analysis.&#148; Consistent with a policy change adopted during fiscal year 2018 for executive officers, we entered into an amended
change of control agreement with Dr.&nbsp;Farrell, so that in the future, all benefits would be on a &#147;double-trigger&#148; basis, that is, benefits would only accrue if we terminated Dr.&nbsp;Farrell&#146;s employment, or if he resigned for
good reason, but in either case within a specified period of time before or after a change of control. (Previously, the change of control agreement had provided for unvested equity awards to vest in full on the effective date of a change of control,
without a qualifying termination.) If Dr.&nbsp;Farrell&#146;s employment were to terminate under qualifying circumstances in connection with a change of control, then at the time of termination: (1)&nbsp;he would receive a severance payment equal to
(a)&nbsp;two times his employee salary, plus (b)&nbsp;two times the amount we would be required to contribute on his behalf under our 401(k) plan based on his termination base salary; (2)&nbsp;he would become fully vested in his accrued retirement
plan benefits; (3)&nbsp;all his unvested equity awards would vest in full; and (4)&nbsp;we would provide medical and dental health benefits for two years after the termination. The agreement does not include excise tax
<FONT STYLE="white-space:nowrap">gross-ups;</FONT> instead, it includes a &#147;best pay&#148; provision, reducing severance payments to the extent necessary so that no portion of any payments or benefits payable upon a change of control would be
subject to excise tax if the reduction would result in the net amount payable to him being greater than the net amount received without the reduction. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">For two years after a qualifying termination in connection with a change of control, Dr.&nbsp;Farrell will be prohibited from inducing any person in our
employment to terminate employment or accept employment with anyone other than us or, subject to certain limited exceptions, engage in any business or activity or render any services or provide any advice to any person, activity, business or entity
that directly or indirectly competes in any material manner with us or meaningfully support any person, business, entity or activity or initiate or further that business or activity. The restriction on post-termination employment may not apply if he
resides in California, due to certain provisions of California law. In addition, as a condition to payment and providing any benefits under the agreements, he must deliver a general release of claims in favor of us. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In May 2018, our board (without Michael Farrell&#146;s or Dr.&nbsp;Peter Farrell&#146;s participation) agreed that the compensation arrangements for
Dr.&nbsp;Farrell, both as <FONT STYLE="white-space:nowrap">non-executive</FONT> chairman, and as a <FONT STYLE="white-space:nowrap">non-officer</FONT> employee, would remain the same for fiscal year 2019 as in fiscal year 2018. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">34 </P>

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<TD VALIGN="top" BGCOLOR="#54a0ff"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_30"></A>Fiscal&nbsp;year&nbsp;2018&nbsp;director&nbsp;compensation&nbsp;table</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The table below summarizes the compensation received by our <FONT STYLE="white-space:nowrap">non-employee</FONT>
directors and Dr.&nbsp;Peter Farrell for the fiscal year ended June&nbsp;30, 2018: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"><B>Director</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;Fees&nbsp;earned&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>or&nbsp;paid</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>in&nbsp;cash<SUP
STYLE="font-size:85%; vertical-align:top">(a)</SUP></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Option</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;awards<SUP STYLE="font-size:85%; vertical-align:top">(b)(d)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;Restricted&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>stock</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>units<SUP
STYLE="font-size:85%; vertical-align:top">(c)(d)</SUP></B></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Other</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;compensation<SUP STYLE="font-size:85%; vertical-align:top">(e)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Carol Burt</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">$73,250</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">$250,017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">$323,267</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Karen Drexler</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">$40,625</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">$250,017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">$290,642</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Peter Farrell</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">$65,000</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">$250,017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">$453,905</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">$768,922</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Gary Pace</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">$65,000</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">$250,017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">$315,017</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Rich Sulpizio</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">$80,000</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">$250,017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">$330,017</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Ron Taylor</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">$95,000</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">$250,017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">$345,017</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Jack Wareham</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">$71,750</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">$250,002</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">$321,752</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="97%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top">(a)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Each director was also reimbursed for expenses incurred for attending meetings (although these amounts are not reflected in the table above).<BR></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top">(b)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">The amounts shown are the grant date fair value of options granted in fiscal year 2018, computed in accordance with FASB ASC Topic 718, based on the Black-Scholes model of option valuation. The following assumptions were
used:</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="96%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt">


<TR>
<TD WIDTH="67%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="31%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Assumption</B></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
November&nbsp;16,&nbsp;2017&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Market price of stock</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">$84.98</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Exercise price of option</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">$84.98</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Expected stock volatility</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">23.0%</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Risk-free interest rate</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">2.08%</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Expected life</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">4.9</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Dividend yield</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">1.65%</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="97%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top">(c)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">The dollar value of the RSUs shown represent the grant date fair value of stock awards granted, computed in accordance with FASB ASC Topic 718, based on the $84.98 closing value on November&nbsp;16, 2017, the date of the grant,
rounded down to the nearest whole share.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top">(d)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">The following table sets forth the number of options (both exercisable and unexercisable) and RSUs held by each of our <FONT STYLE="white-space:nowrap">non-employee</FONT> directors and Dr.&nbsp;Farrell as of the end of fiscal
year 2018:</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="96%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="23%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"><B>Director</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Options&nbsp;outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>at&nbsp;fiscal&nbsp;year&nbsp;end</B></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted&nbsp;stock&nbsp;units&nbsp;outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>at&nbsp;fiscal&nbsp;year&nbsp;end</B></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Carol Burt</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">2,991</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Karen Drexler</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">2,991</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Peter Farrell</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">2,991</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Gary Pace</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">67,139&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">2,991</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Rich Sulpizio</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">2,991</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Ron Taylor</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">2,991</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Jack Wareham</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">103,226&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">35 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:ARIAL; " ALIGN="left">&nbsp;&nbsp;Other compensation represents Peter Farrell&#146;s total compensation for fiscal year 2018 for service as a <FONT
STYLE="white-space:nowrap">non-officer</FONT> employee, as shown in the following table: </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="96%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt">


<TR>
<TD WIDTH="82%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"><B>Salary</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Company</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>contribution</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;to&nbsp;401(k)&nbsp;plan&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Supplemental&nbsp;life&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>and&nbsp;disability</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>insurance</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>premiums</B></P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personal&nbsp;use&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>of&nbsp;company</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>aircraft<SUP
STYLE="font-size:85%; vertical-align:top">(i)</SUP></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Sales</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;incentive&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>award<SUP STYLE="font-size:85%; vertical-align:top">(ii)</SUP></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales&nbsp;incentive&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>award&nbsp;tax</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B><FONT STYLE="white-space:nowrap">gross-up</FONT><SUP STYLE="font-size:85%; vertical-align:top">(ii)</SUP></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;</B></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="center">$300,000</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">$10,800</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">$23,399</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">$89,709</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">$27,223</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">$2,774</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.70pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1.70pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">$453,905</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD WIDTH="97%"></TD></TR>


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<TD VALIGN="top">i.&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">The calculation of the aggregate incremental cost for personal use of company aircraft includes the variable costs incurred as a result of personal flight activity, which includes fuel, trip related maintenance, universal weather
monitoring, <FONT STYLE="white-space:nowrap">on-board</FONT> catering, landing and ramp fees, excise taxes, and all other miscellaneous costs. No incremental cost for personal use of the aircraft is attributed when the aircraft was previously
scheduled to the destination for a business purpose. Since the aircraft are primarily used for business purposes, the aggregate incremental cost excludes fixed costs, such as the monthly management fee and amortization, because such costs would have
been incurred regardless of the personal use.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top">ii.</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">This sales incentive award program is primarily targeted for sales personnel and other key management who regularly interact with our customers and to recognize their contributions to us. The committee believes that participation
by Dr.&nbsp;Farrell in this program enhances the overall sales incentive program, by providing the sales team with an opportunity to interact with our founder. We provide these benefits on the same general basis as we provide to <FONT
STYLE="white-space:nowrap">non-executives</FONT> who qualify to participate in the program, including a tax <FONT STYLE="white-space:nowrap">gross-up.</FONT> The tax <FONT STYLE="white-space:nowrap">gross-up</FONT> is provided to all participants,
and is provided so that they are not discouraged from participating by tax expenses that would otherwise be a personal expense attributable to this program. Our policy reflects the committee&#146;s belief that Dr.&nbsp;Farrell&#146;s attendance at
this program is a part of his general business duties and that this is not a perquisite.</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">36 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13.5pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_31"></A>E<SMALL>XECUTIVE</SMALL> <SMALL>OFFICERS</SMALL>
</B></FONT></P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">As of the record date, September&nbsp;17, 2018, our executive officers were: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="22%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="67%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Executive officer</B></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Age</B></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Position</B></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Michael Farrell</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">46</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">Chief executive officer and director</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Rob Douglas</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">58</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">President and chief operating officer</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Jim Hollingshead</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">55</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">President &#150; sleep business</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Richie McHale</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">54</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">President &#150; respiratory care business</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">David Pendarvis</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">59</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">Chief administrative officer, global general counsel and secretary</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Brett Sandercock</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">51</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">Chief financial officer</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Raj Sodhi</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">45</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">President &#150; software as a service business (SaaS)</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_32"></A>Executive&nbsp;officer&nbsp;biographies&nbsp;&nbsp;
</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">For a description of the business background of Michael Farrell, see &#147;Proposal 1: Election of directors.&#148; </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>ROB DOUGLAS </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>President and chief operating
officer </B></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Rob Douglas has been ResMed&#146;s president since March 2013, and our chief operating officer since September 2011.&nbsp;Together with
our chief executive officer, he holds full operational responsibility for ResMed and its subsidiaries. Mr.&nbsp;Douglas has had&nbsp;an extensive career within ResMed. His former roles include president &#150; Asia Pacific and chief, global supply
operations from May 2011, responsible for global manufacturing and commercial distribution and sales operations in the Asia Pacific region; chief operating officer &#150; Asia Pacific since 2008; chief operating officer &#150; Sydney from 2005,
responsible for our manufacturing and research and development; vice president of operations from 2003 responsible for our manufacturing and vice president of respiratory and cardiac business from 2002. Mr.&nbsp;Douglas first joined ResMed in 2001
in the role of vice president of corporate marketing. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr.&nbsp;Douglas has a Master of Business Administration from Macquarie University, a
bachelor&#146;s degree in electrical engineering with first-class honors and a B.Sc. (Computer Sciences) from the University of New South Wales, Sydney.&nbsp;Mr.&nbsp;Douglas currently serves as <FONT STYLE="white-space:nowrap">co-vice</FONT>
chairman on the board of directors of the San Diego Regional Economic Development Corporation and is also serving as Vice Chairman of EvoNexus. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>JIM HOLLINGSHEAD </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>President &#150; sleep
business </B></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Jim Hollingshead<B> </B>was appointed president &#150; sleep business in July 2017. Mr.&nbsp;Hollingshead joined ResMed in March 2010
as vice president of strategy and business development. In August 2011, his role was expanded to include the leadership of ResMed ventures and initiatives, the unit responsible for growing early stage businesses. In March 2013, he was appointed
president &#150; Americas. Before joining us, Mr.&nbsp;Hollingshead spent 18 years in strategy consulting, where he worked with senior executives across a wide range of industries. From September 2008 to February 2010, he was a senior partner in the
strategy and life sciences practices at Deloitte Consulting, based in San Francisco. Before that Mr.&nbsp;Hollingshead was managing partner, west coast for Monitor Group, a global strategy consulting firm. While at Monitor Group,
Mr.&nbsp;Hollingshead worked in various offices around the world, and successfully launched and ran three different practices, including a <FONT STYLE="white-space:nowrap">pan-European</FONT> marketing strategy practice based in London. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr.&nbsp;Hollingshead currently sits on the board of SleepScore Labs, a joint venture between ResMed, Pegasus Capital and Oz Media, aimed at creating a
consumer marketplace for scientifically validated sleep solutions like the S+ by ResMed. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr.&nbsp;Hollingshead holds an A.B. in history and
international relations with highest distinction from Stanford University, and an M.A. and Ph.D in political science from the University of California at Berkeley, where he was awarded a graduate student fellowship by the National Science
Foundation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">37 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>RICHIE MCHALE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>President &#150; respiratory care business </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Richie McHale was appointed president of ResMed&#146;s respiratory care business in July 2017. He previously served as the company&#146;s chief human
resources officer, beginning in November 2013, and joined ResMed in 2011 as director of its United Kingdom business team. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr.&nbsp;McHale has 25
years&#146; experience in the life sciences sector, working primarily in commercial roles within pharmaceutical, biotechnology and medical technology companies. Prior to joining ResMed, he was managing director of UCB Pharma&#146;s United Kingdom
and Ireland business units. He also served as chair of the European Medicines Group and a member of the Board of Management for the Association of British Pharmaceutical Industry (ABPI). </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr.&nbsp;McHale holds a master&#146;s degree in coaching psychology from the Metanoia Institute in London. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>DAVID&nbsp;PENDARVIS </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>Chief administrative
officer, global general counsel and secretary </B></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">David Pendarvis has been chief administrative officer and global general counsel since May 2011.
He served as interim president for ResMed EMEA and Japan from March&nbsp;to August 2017, in addition to his chief administrative officer and global general counsel roles. Mr.&nbsp;Pendarvis joined ResMed as global general counsel in September 2002,
and has been corporate secretary since February 2003. From February 2005 to May 2011, he served as senior vice president of organizational development. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Before joining ResMed, Mr.&nbsp;Pendarvis was a partner in the law firm of Gray Cary Ware&nbsp;&amp; Freidenrich LLP, from September 2000 until
September 2002, where he specialized in intellectual property and general business litigation. From 1986 to 2000, he was a partner with Gibson, Dunn&nbsp;&amp; Crutcher LLP. From 1984 to 1986 he was a law clerk to the Hon. J. Lawrence Irving, US
District Judge, Southern District of California. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Since 2017, Mr.&nbsp;Pendarvis has served on the board of directors of <FONT
STYLE="white-space:nowrap">WD-40</FONT> Company (NASDAQ: WDFC), a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the
world. He has also served on the board of directors of the San Diego Regional Chamber of Commerce since 2013 and the Corporate Directors Forum since 2010. From 2009 to 2016, he was a director on the board of Sequenom, Inc. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr.&nbsp;Pendarvis holds a Bachelor of Arts from Rice University; a Juris Doctor (J.D.), cum laude, from the University of Texas School of Law; and a
Master of Science in Executive Leadership from the University of San Diego. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>BRETT&nbsp;SANDERCOCK </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>Chief financial officer </B></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Brett Sandercock has
been chief financial officer since January&nbsp;1, 2006. From November 2004 until December 2005, Mr.&nbsp;Sandercock was vice president, treasury and finance at ResMed. Before that, from 1998 to November 2004, Mr.&nbsp;Sandercock was group
accountant and then controller at ResMed. From March 1996 to August 1998 he was manager, financial accounting and group reporting at Norton Abrasives, a division of the French multi-national, Saint Gobain. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr.&nbsp;Sandercock also held finance and accounting roles from November 1994 to March 1996 at Health Care of Australia, a large private hospital
operator in Australia. From 1989 to 1994, Mr.&nbsp;Sandercock worked at PricewaterhouseCoopers in Sydney, specializing in audits of clients predominantly focused on distribution and manufacturing, financial services and technology. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr.&nbsp;Sandercock holds a B.Ec. from Macquarie University and is a certified chartered accountant. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">38 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>RAJ SODHI </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B>President &#150; software as a service (SaaS) business </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Raj Sodhi was appointed president of ResMed&#146;s software as a service (SaaS) business in July 2017. He was previously president of healthcare
informatics and vice president of the global healthcare informatics team. He joined ResMed in 2012 through the acquisition of Umbian Inc. of which he was <FONT STYLE="white-space:nowrap">co-founder</FONT> and president. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Before ResMed and Umbian, Mr.&nbsp;Sodhi worked in the financial services industry, designing, developing and managing SaaS solutions. He was senior
vice president of business development and chief technology officer for Skipjack Financial Services from 2005 to 2009, and <FONT STYLE="white-space:nowrap">co-founder</FONT> and chief technology officer of TransActive Ecommerce Solutions from 2000
to 2005. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Mr.&nbsp;Sodhi holds a Master of Business Administration and a Bachelor of Science in mathematics and statistics from Dalhousie University
in Halifax, Nova Scotia. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">39 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:16pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_33"></A>C<SMALL>OMPENSATION</SMALL>
<SMALL>DISCUSSION</SMALL> <SMALL>AND</SMALL> <SMALL>ANALYSIS</SMALL> (CD&amp;A) </B></FONT></P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_34"></A>Introduction&nbsp;&nbsp;</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">This compensation discussion and analysis section discusses the compensation policies and programs for our named
executive officers. Our named executive officers for fiscal year 2018 were: Michael&nbsp;Farrell, our chief executive officer; Brett Sandercock, our chief financial officer; and our three next most highly paid executive officers: Rob Douglas, our
president and chief operating officer; Jim&nbsp;Hollingshead, the president of our sleep business; and David Pendarvis, our chief administrative officer, global general counsel and secretary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">This section also discusses our board compensation committee&#146;s role in designing and administering our compensation programs and policies and in
making compensation decisions for our executive officers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The goal of our compensation programs and policies is to align compensation delivery with
performance for shareholders, measured both internally against budgets and externally through share price. We believe this alignment was achieved in fiscal year 2018. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_35"></A>Overview&nbsp;of&nbsp;fiscal&nbsp;year&nbsp;2018&nbsp;&#150;&nbsp;
executive&nbsp;summary</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Financial and operating success</I></B><B>.</B> During the 2018 fiscal year, we continued our trend of successful
financial performance. We increased net revenue by double-digits, both on a GAAP basis and after adjusting for currency fluctuation. Operating income strongly increased, by 27% on a GAAP basis, and 19% after adjustments. Although net income and
diluted earnings per share declined year-over-year on a GAAP basis, on an adjusted, or <FONT STYLE="white-space:nowrap">non-GAAP</FONT> basis, each grew strongly, by at least 25%. These metrics are illustrated in the table below, with GAAP and
corresponding <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measures. We believe these <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measures provide better insight in evaluating our performance. We employ and report these <FONT
STYLE="white-space:nowrap">non-GAAP</FONT> measures in our quarterly financial reports. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="26%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="23%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Financial<BR>measure</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"><B>Percentage&nbsp;change</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"><B>Fiscal year 2018<BR>performance</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt"><B>Fiscal year 2017<BR>performance</B></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.40em; font-size:10pt; font-family:ARIAL">Net revenue</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">13%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">$2.3&nbsp;billion</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$2.1&nbsp;billion</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff">(10%&nbsp;on&nbsp;a&nbsp;constant&nbsp;currency&nbsp;basis)</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.40em; font-size:10pt; font-family:ARIAL">Operating income</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">27%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">$541.8&nbsp;million</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$425.8&nbsp;million</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff">(19% <FONT STYLE="white-space:nowrap">non-GAAP)</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff"><FONT STYLE="white-space:nowrap">($606.6&nbsp;million&nbsp;non-GAAP)</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt"><FONT STYLE="white-space:nowrap">($508.4&nbsp;million&nbsp;non-GAAP)</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.40em; font-size:10pt; font-family:ARIAL">Net income</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">-8%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">$315.6&nbsp;million</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$342.3&nbsp;million</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff">(27% <FONT STYLE="white-space:nowrap">non-GAAP)</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff">($507.8&nbsp;million <FONT STYLE="white-space:nowrap">non-GAAP)</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">($401.3&nbsp;million <FONT STYLE="white-space:nowrap">non-GAAP)</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.40em; font-size:10pt; font-family:ARIAL">Diluted earnings per share</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">-9%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">$2.19</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$2.40</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff">(25% <FONT STYLE="white-space:nowrap">non-GAAP)</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff">($3.53 <FONT STYLE="white-space:nowrap">non-GAAP)</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">($2.82 <FONT STYLE="white-space:nowrap">non-GAAP)</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">For a reconciliation between GAAP and <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measures, see Appendix A to this
proxy statement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In fiscal year 2018, we made good progress with the three following foundations that allow us to drive our ResMed 2020 strategy:
</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify"><B><I><U>global leadership in digital health and connected care</U></I></B><B>.</B> As of fiscal year end, over
5&nbsp;million patients were monitored at home with our connected care systems, our AirView system had over 8&nbsp;million patients, and over 1&nbsp;million patients had signed up for myAir, while our Brightree system had over 64&nbsp;million
patient accounts as part of its post-acute care network. Our connected health strategy is advancing across multiple markets; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify"><B><I><U>expansion in new markets</U></I></B><B><I>.</I></B> We ended fiscal year 2018 with sales (adjusted for
short-term incentive measurements) in our respiratory care, Asia growth markets, <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">software-as-a-service,</FONT></FONT></FONT> and Germany Healthcare,
in the aggregate, of approximately $623&nbsp;million, with constant-currency growth of 5%; and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify"><B><I><U>strong focus on operating excellence</U></I></B><B><I>:</I></B> for talent development and to leverage our
scale. Each quarter of fiscal year 2018 showed double-digit net operating profit improvement. For the full fiscal year, our adjusted operating profit, net income, and earnings per share all grew faster than our adjusted net revenue.
</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">40 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Strong absolute and relative total stockholder returns. </I></B>Our total stockholder returns
(TSR) on the NYSE were very strong, outperforming the S&amp;P 500 index and our peer group. Our <FONT STYLE="white-space:nowrap">one-,</FONT> three-, and five-year annualized TSR were 35%, 25%, and 20%, respectively. In comparison, the S&amp;P 500
index experienced average annualized TSR of 14%, 12%, and 13% over the <FONT STYLE="white-space:nowrap">one-,</FONT> three-, and five-year periods ended June&nbsp;30, 2018. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Against our peer group, our annualized NYSE TSR was above the median over five years, and above the
75<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile over one and three years. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The table below shows these comparisons with more
precision. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Def.-Arial MT; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="43%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="24" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="24" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff">&nbsp;</TD>
<TD HEIGHT="24" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff">&nbsp;</TD>
<TD HEIGHT="24" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #478ef7">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"><FONT STYLE="font-family:ARIAL; "><B>Period</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>ResMed&#146;s<BR>annualized&nbsp;total<BR>stockholder&nbsp;return<BR>(NYSE)</B></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>S&amp;P&nbsp;500&nbsp;average<BR>annualized&nbsp;total<BR>stockholder&nbsp;return</B></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>NYSE&nbsp;peer&nbsp;group<BR>median&nbsp;annualized<BR>total&nbsp;stockholder<BR>return</B></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">One year ended June&nbsp;30, 2018</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff"><FONT STYLE="font-family:ARIAL; ">35%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff"><FONT STYLE="font-family:ARIAL; ">14%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt"><FONT STYLE="font-family:ARIAL; ">11%</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Three years ended June&nbsp;30, 2018</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff"><FONT STYLE="font-family:ARIAL; ">25%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff"><FONT STYLE="font-family:ARIAL; ">12%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt"><FONT STYLE="font-family:ARIAL; ">17%</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Five years ended June&nbsp;30, 2018</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff"><FONT STYLE="font-family:ARIAL; ">20%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff"><FONT STYLE="font-family:ARIAL; ">13%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt"><FONT STYLE="font-family:ARIAL; ">21%</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Because our primary listing is on the NYSE, our TSR based on performance of our CHESS&nbsp;Units of Foreign Securities
trading on the ASX is impacted by currency fluctuations between the US and Australian dollars. Nevertheless, our <FONT STYLE="white-space:nowrap">one-,</FONT> three-, and five-year annualized TSR on the ASX were very strong at, respectively, 43%,
27%, and 25%. These were significantly above the ASX 100 index, which experienced average annualized total stockholder returns of 5%, 4%, and 5%, over the <FONT STYLE="white-space:nowrap">one-,</FONT> three-, and five-year time periods. It was also
above the 75<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile of our Australian compensation peers for a <FONT STYLE="white-space:nowrap">one-</FONT> and five-year period; and slightly under the 75<SUP
STYLE="font-size:85%; vertical-align:top">th</SUP> percentile for the <FONT STYLE="white-space:nowrap">3-year</FONT> period. The table below shows these figures. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Def.-Arial MT; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="43%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="24" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="24" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff">&nbsp;</TD>
<TD HEIGHT="24" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff">&nbsp;</TD>
<TD HEIGHT="24" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #478ef7">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"><FONT STYLE="font-family:ARIAL; "><B>Period</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>ResMed&#146;s<BR>annualized&nbsp;total<BR>stockholder&nbsp;return<BR>(ASX)</B></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>ASX&nbsp;100&nbsp;average<BR>annualized&nbsp;total<BR>stockholder&nbsp;return</B></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>ASX&nbsp;peer&nbsp;group<BR>median&nbsp;annualized<BR>total&nbsp;stockholder<BR>return</B></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">One year ended June&nbsp;30, 2018</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff"><FONT STYLE="font-family:ARIAL; ">43%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff"><FONT STYLE="font-family:ARIAL; ">5%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt"><FONT STYLE="font-family:ARIAL; ">13%</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Three years ended June&nbsp;30, 2018</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff"><FONT STYLE="font-family:ARIAL; ">27%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff"><FONT STYLE="font-family:ARIAL; ">4%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt"><FONT STYLE="font-family:ARIAL; ">8%</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Def.-Arial MT; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Five years ended June&nbsp;30, 2018</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff"><FONT STYLE="font-family:ARIAL; ">25%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff"><FONT STYLE="font-family:ARIAL; ">5%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt"><FONT STYLE="font-family:ARIAL; ">15%</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Strong capital management and return to our stockholders.</I></B> During fiscal year 2018, we increased the
dividend paid to stockholders. In July 2017, we increased our quarterly dividend by 6%, from $0.33 to $0.35 per share; and in August 2018, we announced a further 6% increase, to $0.37 per share. During fiscal year 2018, we paid approximately
$200&nbsp;million in dividends, representing a dividend payout ratio of 63% of net income, or 39% of adjusted <FONT STYLE="white-space:nowrap">(non-GAAP)</FONT> net income. We also resumed our share repurchase program in the second quarter of fiscal
year 2018, and during the balance of fiscal year 2018 we repurchased approximately $54&nbsp;million of stock. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Compensation at risk and tied
to our performance. </I></B>During fiscal year 2018, approximately 89% of our chief executive officers&#146; compensation and 82% of our other named executive officers&#146; compensation was at risk in the form of annual cash incentives and equity
awards, which are paid or earned based on our financial and stock price performance. The compensation decisions for fiscal year 2018 maintained the <FONT STYLE="white-space:nowrap">at-risk</FONT> weighting for our named executive officers largely
consistent with 2017, with most of the increases in compensation in the form of <FONT STYLE="white-space:nowrap">at-risk</FONT> equity compensation. Based on this incentive-driven structure, our pay delivery matched both internal operating
performance and external share price performance in 2018. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">41 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt"><B><I><U>Annual cash incentive awards were earned in a range from approximately 97% to 103%, based on performance in our
key financial measures</U></I></B><B>.</B> During fiscal year 2018, the primary performance measures for our chief executive officer and our president and chief operating officer were adjusted net sales, which was achieved at approximately 99.5% of
target, and adjusted operating profit as a percentage of revenue, which was achieved at approximately 102.1% of target, weighted equally. Based on these metrics, these two executives earned approximately 102.7% of their target short-term cash
incentive. These same two components, weighted equally, comprised 80% of the incentive opportunity for our chief financial officer and our global general counsel and chief administrative officer; and 40% of the opportunity for the president of our
sleep business. The balance of the opportunity for these three executives were based on specific business unit goals. These three officers earned between approximately 96.5% and 97.7% of target opportunity. We believe these measures reflect
operating activities that are within the officers&#146; purview and most important to long-term stockholder value creation, as they focus on top line and bottom line performance. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:10%; font-size:10pt; font-family:ARIAL" ALIGN="justify">We achieved between 93% to 102% of targeted performance under each of our goals, resulting in total payouts ranging from 96% to 102% of
target bonus opportunity for each of our named executive officers as illustrated in the tables below. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="46%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" COLSPAN="3" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:1px solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">
<P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Goal</B></P>
<P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Target</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>performance</B></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Actual</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>performance</B></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>%&nbsp;of&nbsp;goal</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>achieved</B></P>
<P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt"> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>%&nbsp;of&nbsp;payout</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>earned&nbsp;(before</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>weighting)</B></P>
<P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" COLSPAN="3" STYLE="BORDER-LEFT:1px solid #54a0ff; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Adjusted net sales</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff" BGCOLOR="#cceeff" ALIGN="center"> $2,270,177<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" ALIGN="center"> $2,259,764<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff" BGCOLOR="#cceeff" ALIGN="center"> 99.54%<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff" BGCOLOR="#cceeff" ALIGN="center"> 98.47%&nbsp;&nbsp;&nbsp;&nbsp;<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" COLSPAN="3" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Adjusted operating profit as % of sales</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 27.21%<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 27.77%<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 102.08%<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center">
106.93%&nbsp;&nbsp;&nbsp;&nbsp;<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" COLSPAN="3" STYLE="BORDER-LEFT:1px solid #54a0ff; padding-left:8pt"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Growth markets adjusted net sales</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff" ALIGN="center"> $637,017<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"> $593,887<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff" ALIGN="center"> 93.23%<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff" ALIGN="center"> 77.43%&nbsp;&nbsp;&nbsp;&nbsp;<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" COLSPAN="3" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Sleep Adjusted Net Sales</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> $1,638,327<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> $1,670,934<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 101.99%<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center">
106.63%&nbsp;&nbsp;&nbsp;&nbsp;<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" COLSPAN="3" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Sleep Adjusted Operating Profit as % of Net Sales</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>

<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 32.39%<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 31.72%<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 97.93%<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 93.10%&nbsp;&nbsp;&nbsp;&nbsp;<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Executive</B></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"><B>Farrell</B> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"><B>Douglas</B> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"><B>Sandercock</B> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"><B>Pendarvis</B> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"><B>Hollingshead</B>
<P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #54a0ff; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Corporate adjusted net sales</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">50%&nbsp;weight/<BR>49.24%&nbsp;payout&nbsp;&nbsp;</P>
<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff" ALIGN="center">50%&nbsp;weight/<BR> 49.24%&nbsp;payout&nbsp;&nbsp;<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">40% weight/<BR> 39.39%&nbsp;payout&nbsp;&nbsp;<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff" ALIGN="center">40%&nbsp;weight/<BR> 39.39%&nbsp;payout&nbsp;&nbsp;<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff" ALIGN="center">20% weight/<BR> 19.69%&nbsp;payout&nbsp;&nbsp;&nbsp;<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Adjusted Operating Profit as % of Net Sales</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">50% weight/<BR>53.47% payout&nbsp;&nbsp;</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">50% weight/<BR>53.47% payout&nbsp;&nbsp;</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">40% weight/<BR>42.77% payout&nbsp;&nbsp;</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">40% weight/<BR>42.77% payout&nbsp;&nbsp;</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">20% weight/<BR>21.39% payout&nbsp;&nbsp;&nbsp;</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #54a0ff; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Growth markets adjusted net sales</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">20% weight/<BR>15.49% payout&nbsp;&nbsp;</P>
<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff" ALIGN="center">20% weight/<BR> 15.49% payout&nbsp;&nbsp;<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff" ALIGN="center">20% weight/<BR> 15.49% payout&nbsp;&nbsp;&nbsp;<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Sleep adjusted net sales</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">20% weight/<BR>21.33% payout&nbsp;&nbsp;&nbsp;</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #54a0ff; padding-left:8pt"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Sleep adjusted operating profit as % of net sales</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>

<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff" ALIGN="center">20% weight/<BR> 18.62% payout&nbsp;&nbsp;&nbsp;<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Total payout as % of target opportunity</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 102.70%<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 102.70%<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 97.65%<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 97.65%<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">96.51%</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt"><B><I><U>We set challenging goals for our executives for fiscal year 2018</U></I></B>. Our fiscal year 2018 adjusted net
sales goal required 10% constant currency growth over fiscal year 2017. When the fiscal year 2018 adjusted net sales goal was set, it was above our peers&#146; median trailing twelve-month revenue growth rate of 8% through June&nbsp;30, 2017. Our
actual fiscal year 2018 net sales growth (adjusted for short-term incentive plan calculations) was 9.3%, which was above the median of our peer group. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:10%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Similarly, our fiscal year 2018 goal for adjusted operating profit as a percentage of revenue was 27.21%. This was a higher percentage
of revenue than our actual fiscal 2017 adjusted operating profit percentage of 26.82%, and when combined with our 2018 sales target, was projected to deliver increased operating profit in fiscal year 2018, compared with fiscal year 2017. Our actual
adjusted operating profit performance of 27.77% was above our internal goal, and operating profit before tax, in dollars (adjusted for short-term incentive plan calculations), increased by 17%, from $554&nbsp;million in fiscal year 2017,&nbsp;to
$649&nbsp;million in fiscal year 2018. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">42 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Our equity program is tied to stock price performance and provides a direct link with the
long-term interests of our stockholders. </I></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt"><B><I><U>Our fiscal year 2018 equity program design is balanced, with 50% of grant value in long-term performance units,
providing a direct link with the long-term interests of our stockholders</U></I></B>.&nbsp;Fifty percent of our named executives&#146; annual equity award values are in the form of performance-based stock units, or PSUs, that are earned over a
four-year performance period beginning on our annual meeting date, with the number of shares to be earned depending on our total stockholder return, or TSR, over the applicable performance period. The outstanding PSU grants made in fiscal 2016 and
2017 require a minimum threshold of 22% cumulative annual TSR performance, before threshold shares are earned, and they require 46% cumulative TSR performance before target shares are earned, each as measured over a four-year performance period,
with opportunity to earn threshold number of shares after three years if cumulative TSR performance is at least 16% at the end of three years, and target number of shares if cumulative TSR performance is 22% at the end of three years.
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:10%; font-size:10pt; font-family:ARIAL" ALIGN="justify">In addition to the PSUs described above, the other 50% of the grant date value of our annual equity awards are
granted in the form of either (1)&nbsp;stock options, or (2)&nbsp;restricted stock unit awards. Before the grant date, the officer can choose to receive the remaining 50% of grant value as 100% options, 100% performance-based RSUs, or 50% of each.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:10%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Both the options and RSU awards time vest subject to continued service over a three-year period, but the RSU awards, consistent
with prior years, are subject to the performance condition that we achieve 50% of our budgeted adjusted operating profit in our third and fourth quarters, either individually or combined. Because we exceeded the minimum targeted adjusted profit for
the second half of fiscal year 2018, all RSUs that were granted during the fiscal year were earned, but continue to be subject to a three-year service-based vesting requirement from the grant date. We believe our RSU awards and stock option awards
are also performance-based, because the ultimate value an executive will derive depends mostly on our stock performance, which in turn is driven by our financial performance. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:10%; font-size:10pt; font-family:ARIAL" ALIGN="justify">The fiscal year 2018 program is illustrated below: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="right">


<IMG SRC="g612931sp48a.jpg" ALT="LOGO">
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt"><B><I><U>Balancing Australian and US compensation practices</U></I></B><I>.</I> The committee adopted this long-term
equity design to attempt to balance the competing considerations of <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">pay-for-performance</FONT></FONT> orientation, stockholder alignment, retention, and administrative complexity. In
particular, granting 50% of the award in PSUs is intended to balance the current practices between our <FONT STYLE="white-space:nowrap">US-based</FONT> compensation peers and our Australian peers. According to FW Cook&#146;s August 2017 report,
which the committee reviewed before the fiscal year 2018 compensation decisions were made, our US peers, as a group, granted, on average, 34% of their long-term incentive value in the form of performance awards, 28% in time-vested restricted stock
or RSUs, and 37% in stock options. Our 50% mix of performance awards exceeds this peer data. In contrast, our Australian peers granted almost 99% of their long-term incentive value in the form of performance-based equity. At the same time, our
Australian peers typically provide considerably higher base salaries, and lower long-term incentive opportunities than the US peers. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:10%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Most of our executive officers reside and work in the US, our primary listing is on the NYSE, and most of our competitors are <FONT
STYLE="white-space:nowrap">US-based,</FONT> so we consider this design a balanced approach, appropriate for our labor and investor markets. Our RSUs and PSUs do not earn any dividends or dividend equivalents, and so are valued less than at our peers
who do provide dividend equivalents. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">43 </P>

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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt"><B><I><U>Despite meaningful actual TSR performance over the three-year performance period of 65%, PSUs based on a
performance period ending in fiscal year 2018 resulted in payouts below target</U></I></B><B><I>.</I></B> PSU grants that vested in fiscal year 2018 were made in fiscal year 2015, based on our relative TSR performance, over the three-year
performance period, as compared to the US Dow Jones Medical Device Index, a broad-based index of medical device companies. These PSUs required TSR at the median of the index before any portion of the performance-based equity awards are earned;
target performance required TSR at the 60<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile. These PSUs ended their three-year performance period during fiscal year 2018. ResMed&#146;s TSR was 64.90% over the three-year performance
period ending November 2017, which was above the required threshold performance of 56.94%, but below the 60<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile target level of 69.50%. As a result, shares were delivered at only 57% of
the target number. This outcome speaks to the high goal-setting, with a target at the 60<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile and threshold at the median, and the failure to earn at target, despite approximately 65%
absolute TSR during the performance period, is viewed as a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">pay-for-performance</FONT></FONT> outcome. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt"><B><I><U>PSUs granted since fiscal year 2016 can be earned based on absolute TSR growth, with meaningful TSR growth
targets set for a four-year performance period</U></I></B><B><I>.</I></B>&nbsp;In fiscal year 2018, the committee continued the PSU design begun in fiscal 2016: PSUs are earned for absolute TSR with a target of 10% compounded annual growth, which
equates to 46% growth over four years, and 33% cumulative growth over three years. This design is based on the committee&#146;s belief that its executives are responsible for creating value for our stockholders and that the performance of other
companies is an external variable that is outside their control and outside their scope of responsibility. In establishing this design, the committee desired to continue to provide strong incentives to management to achieve stock price appreciation
and to closely align management&#146;s interests with actual long-term stockholder experience, while rewarding meaningful performance consistent with company goals. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:10%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Our outstanding long-term PSUs granted in fiscal 2016, 2017, and 2018 are based on cumulative absolute TSR performance over a four-year
performance period, with threshold, target and maximum performance based on achieving four-year cumulative TSR of 22%, 46%, and 75%, respectively. Payouts may range from 50% to 225% of target shares granted, with no shares earned for below-threshold
performance. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:10%; font-size:10pt; font-family:ARIAL" ALIGN="justify">In addition, our outstanding PSUs provide for an earlier earnout opportunity, to recognize that a multi-year TSR
incentive is effectively subject to <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">point-to-point</FONT></FONT> comparison. If we achieve cumulative three-year absolute TSR performance of 16% at the end of the third year of the
performance period, that performance accelerates the award with a revised earn out schedule that is still based on the same annualized TSR growth for threshold, target and maximum growth requirements, all as set forth below. </P>
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<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:1px solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:1px solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:1px solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:1px solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff">&nbsp;</TD></TR>
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<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Growth</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>requirements</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Annual&nbsp;base&nbsp;TSR&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>growth</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cumulative&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><FONT STYLE="white-space:nowrap">4-year&nbsp;TSR</FONT></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accelerated&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;cumulative&nbsp;&nbsp;&nbsp;&nbsp;<BR><FONT STYLE="white-space:nowrap">&nbsp;&nbsp;&nbsp;&nbsp;3-year&nbsp;TSR&nbsp;&nbsp;&nbsp;
&nbsp;</FONT></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Payout&nbsp;percentage</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>of&nbsp;target&nbsp;shares</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>granted</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Below threshold</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff" ALIGN="center"> Below&nbsp;5%<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff" ALIGN="center">
Less&nbsp;than&nbsp;22%&nbsp;&nbsp;&nbsp;&nbsp;<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff" ALIGN="center">
Less&nbsp;than&nbsp;16%&nbsp;&nbsp;&nbsp;&nbsp;<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff" ALIGN="center"> 0<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Threshold</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 5%<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 22%<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 16%<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 50%<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Target</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff" ALIGN="center"> 10%<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff" ALIGN="center"> 46%<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff" ALIGN="center"> 33%<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff" ALIGN="center"> 100%<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Maximum</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 15%<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 75%<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 52%<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="center"> 225%<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:10%; font-size:10pt; font-family:ARIAL" ALIGN="justify">The design also recognizes that shareholders may buy and sell on a different schedule than only
the three- and four- year anniversaries of grant. So an additional feature of our outstanding PSUs is that 25% of the target PSUs may be earned and banked if, at the end of any fiscal quarter, during the first three years, cumulative TSR since grant
is equal or greater than 33% (that is, the required minimum performance for payout at target after three years).&nbsp;Banked awards are paid at the end of the third year, count against actual awards earned based on performance at the end of the
performance period, and once the banking condition is met, no additional banking may occur. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:10%; font-size:10pt; font-family:ARIAL" ALIGN="justify">The committee believes this current
PSU design more closely aligns with actual stockholder experience, is less subject to <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">point-to-point</FONT></FONT> stock price volatility, provides a stronger retention mechanism, and
rewards long-term value creation for our stockholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Market-competitive compensation.</I></B> Our objective is to provide a target total
compensation program that is competitive with <FONT STYLE="white-space:nowrap">similarly-sized</FONT> <FONT STYLE="white-space:nowrap">US-based</FONT> public companies in the medical device and medical technology industries with which we compete for
executive talent. One of the three foundations of our ResMed 2020 strategy is to ensure <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">best-in-class</FONT></FONT> talent, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">44 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">
which we believe requires providing total direct compensation for executives that is at least near the median.&nbsp;The committee reviews benchmark data, but does not target a specific benchmark
level. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">At the beginning of fiscal year 2018, FW Cook&#146;s report to the committee showed that fiscal year 2017 total direct compensation
(measured by base salary, short-term incentive at target, and long-term incentive at grant date value) for our chief executive officer was positioned a little below the 50<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile for US
peers and 85<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile for the secondary Australian peers. This data illustrated that our chief executive officer had a base salary at the
45<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile, total target cash compensation at the 55<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile and equity values at the
50<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile of the U.S peer group, consistent with the philosophy to provide a greater portion of compensation in the form of <FONT STYLE="white-space:nowrap">at-risk</FONT> and equity
compensation. For fiscal year 2018, the committee increased the chief executive officer&#146;s base salary by 4%, to recognize his continued development and performance. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Last year&#146;s positive <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">say-on-pay</FONT></FONT> vote and continued
implementation of emerging best practices.</I></B> At our 2017 annual meeting, our stockholders voted to approve, on an advisory basis, the compensation paid to our executive officers disclosed in last year&#146;s proxy statement; 94% of the shares
voted on this proposal voted in favor of our executive compensation. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The 94% support was an increase from both the 83% approval in November 2016
and the 87% approval in November&nbsp;2015. Based on feedback from our stockholders, we believe this improvement was due primarily to the three compensation program changes we announced in August 2017, that were intended to address stockholder
concerns and to continue to move our program to best practices. These changes included elimination of single trigger equity acceleration, adoption of a clawback policy, and increased stock ownership guidelines for our chief executive officer. The
compensation committee also believes this vote is a signal of support for our programs, which are set based on a US compensation philosophy. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We
believe that our dual US and Australia shareholder base affects the rate of <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">say-on-pay</FONT></FONT> support in a manner that does not apply to many of our US competitors, where the
shareholders are more <FONT STYLE="white-space:nowrap">US-based</FONT> and expect a pay program driven by US labor market norms.&nbsp;Our 2017 NYSE shareholder support was 98%, but ASX support was 85%. The committee believes these variations in
approval rates primarily reflect the fact that ResMed&#146;s compensation practices are more aligned with US compensation practices than those at ASX companies, combined with an expectation by some Australian shareholders that the <FONT
STYLE="white-space:nowrap">US-based</FONT> executive team should have compensation that reflects the local Australian labor market, rather than the market where most of the executives are domiciled and where ResMed competes for talent. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">As discussed above in the <FONT STYLE="white-space:nowrap">sub-section</FONT> titled &#147;Balancing Australian and US compensation practices,&#148; the
<FONT STYLE="white-space:nowrap">US-based</FONT> pay philosophy results in executive compensation that is different than the Australian model, with considerably lower base salary, higher short-term cash incentives, and higher target equity value.
Further, US norms have a lower percentage of equity value subject to performance conditions than exhibited by Australian companies, which we balance by granting a higher percentage of equity in a performance-based manner than the average company in
our US peers.&nbsp;We believe our compensation arrangements balance the competing philosophies and are in the best long-term interests of our stockholders, because most of our executive officers are in the US, and we compete for talent mostly with
companies that pay using US compensation structures. We continued informal dialogue with our ASX stockholders during fiscal year 2018; but in light of the approval in the
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">say-on-pay</FONT></FONT> vote, broadly maintained consistency in our executive compensation program. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Best practices.</I></B> Our compensation committee, assisted by its independent compensation consultants, continuously monitors emerging best
executive compensation practices, particularly at our peer companies. As part of this review, and also based on communications with our stockholders, during fiscal year 2018, we made three changes to our executive compensation program: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt"><B><I><U>Clawback policy adopted</U></I></B><B><I>.</I></B> The committee adopted a compensation recovery policy, which
provides that we may recover annual or long-term incentive compensation from our executive officers if ResMed is required to prepare an accounting restatement due to its material noncompliance with any financial reporting requirement under United
States securities laws. The policy allows recoupment from an officer regardless of the particular officer&#146;s role in the transactions or reporting that caused the noncompliance. The policy applies to any amounts of incentive compensation that
would not have been awarded, vested, or paid to the officer had the financial results been properly reported. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt"><B><I><U>Required double-trigger equity acceleration</U></I></B><B>. </B>We have amended the change of control
agreements with our executive officers, so that in the event of a change of control, the agreements will only accelerate vesting of equity on a double-trigger basis, that is, if their employment is terminated under specified circumstances within six
months before or one year after a change of control. Equity grants made to our executive officers during fiscal year 2018 include a similar double-trigger acceleration for a change of control. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">45 </P>

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<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt"><B><I><U>Increased equity award ownership guidelines</U></I></B><B>.</B> We increased the stock ownership guidelines for
our chief executive officer, from 300% of salary, to 500%. As of 2017 fiscal <FONT STYLE="white-space:nowrap">year-end,</FONT> our chief executive officer exceeded this guideline. Ownership guidelines for the other named executives remain at 150% of
salary. We give our executive officers five years to meet these guidelines. If they do not meet them at that time, then they must retain shares equal to <FONT STYLE="white-space:nowrap">one-half</FONT> of the
<FONT STYLE="white-space:nowrap">after-tax</FONT> value of shares acquired on vesting or exercise of options and RSUs until the guidelines are met. As of the record date, each of our executive officers exceeded their guideline.
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In addition to these recently-adopted policies, we have continued to use compensation practices that we understand to be
consistent with best practices, and do not have practices generally viewed as problematic. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt"><B><I><U>No excise tax <FONT STYLE="white-space:nowrap">gross-ups</FONT> in change of control
agreements</U></I></B><B><I>.</I></B> Our change of control agreements do not provide excise tax <FONT STYLE="white-space:nowrap">gross-ups.</FONT> They include a &#147;best pay&#148; limitation, which reduces the severance payments and benefits
payable to the extent necessary so that no portion of any payments or benefits payable upon a change of control would be subject to excise tax if the reduction would result in the net amount payable to the employee being greater than the net amount
received without the reduction. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt"><B><I><U>Limited severance</U></I></B><B><I>.</I></B> All of our named executive officers are employed <FONT
STYLE="white-space:nowrap">at-will,</FONT> and have no contractual right to cash severance on termination, except for qualifying terminations in the event of a change of control. The cash severance on change of control is limited to a double trigger
(requiring both a change of control and a termination) and the highest multiplier is for our chief executive officer, at 200% of salary and short-term incentive. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt"><B><I><U>Limited retirement plans</U></I></B><B>.</B> We do not provide supplemental pension plans for our named
executive officers. Our executives in the US and Australia participate in our 401(k) plan and superannuation plan on the same statutory basis as all other employees. During fiscal year 2018, we adopted a policy that provides <FONT
STYLE="white-space:nowrap">pro-rata</FONT> equity vesting for officers who retire at or after age 60, with at least 5 years&#146; service. </P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt"><B><I><U>Pledging and hedging prohibited</U></I></B><B><I>.</I></B> We have a policy prohibiting our officers and
directors from hedging or pledging their ResMed stock, in accordance with emerging best practices among our US peers. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt"><B><I><U>Unvested equity awards do not include dividends</U></I></B><B><I>. </I></B>No dividends accrue or are paid on
our outstanding equity awards. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_36"></A>Philosophy&nbsp;and&nbsp;objectives&nbsp;of&nbsp;our&nbsp;executive&nbsp;
compensation&nbsp;program&nbsp;</B></FONT></P></TD>
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</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We want to attract, motivate and retain high-quality employees who reflect our values and will enable us to achieve our
short- and long-term strategic goals. We operate in a high-growth environment where substantial competition exists for skilled employees. Our ability to attract, motivate and retain high-caliber individuals depends in large part on the compensation
packages we offer. We believe that our executive compensation programs should reflect our financial and operating performance. In addition, individual contribution to our success should be supported and rewarded. In designing and implementing our
executive compensation program, the committee is guided by the following principles: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I><FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">Pay-for-performance</FONT></FONT> aligned with stockholder interests and largely <FONT STYLE="white-space:nowrap">at-risk</FONT> compensation are the cornerstones of our compensation program.</I></B> A significant portion
of our executives&#146; compensation is <FONT STYLE="white-space:nowrap">at-risk</FONT> and tied to the achievement of <FONT STYLE="white-space:nowrap">pre-established</FONT> short-term corporate financial objectives through our annual cash
incentive programs that our chief executive officer and our president and chief operating officer earn based on achieving our corporate goals relating to adjusted net sales and adjusted operating profit as a percentage of revenue, weighted equally.
These two measures represent fundamental financial metrics: <FONT STYLE="white-space:nowrap">top-line</FONT> sales, and the portion of those <FONT STYLE="white-space:nowrap">top-line</FONT> sales that fall to the bottom-line. The chief executive
officer and president and chief operating officer are tied to these fundamental annual metrics because they are critical drivers of our stockholder returns. Meanwhile, the remaining named executive officers earn their cash short-term incentive
payments based 40% on achieving our corporate and business unit goals related to adjusted net sales and 40% on achieving our corporate and business unit adjusted operating profit as a percentage of revenue, with 20% based on achieving our corporate
and business unit goals related to sales in selected growth businesses. We live with the financial results of these programs, and corporate officer payouts ranged from 96% to 103% of target in fiscal year 2018. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Equity is a key component of our executive compensation. We believe our equity-based incentive award program enhances long-term stockholder value and
encourages long-term performance, because equity-based incentive awards align our executives&#146; financial rewards with those of our stockholders through appreciation of our stock price.&nbsp;We grant 50% of the value of our executive
officers&#146; equity grants in the form of <FONT STYLE="white-space:nowrap">TSR-contingent</FONT> PSUs, with the number of shares earned determined only after a four-year performance period, with the ability to accelerate after three years, based
on our total stockholder return (also, up to 25% of target PSUs may be earned during the first three years under certain conditions that </P>
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require excellent TSR performance). We grant the other 50% of the value of our executive officers&#146; equity grants in the form of RSUs or stock options, which may be chosen individually by
executives. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The vesting of RSUs to our executive officers is subject to a specific performance condition related to our adjusted operating profit,
in addition to our three-year vesting requirement. This condition was intended for units to qualify as performance-based compensation under US tax laws and preserve the deductibility of the compensation paid, while providing a tie to our measurable
performance.&nbsp;In December 2017, however, US tax laws were changed in a way that eliminated the tax advantage of this performance-based condition. We believe that stock options are inherently performance-based, because they only deliver value if
our stock price increases above the closing price on the date the option is granted. In addition, the value our executive officers ultimately receive from either stock options or RSUs depends on our stock performance over the three-year vesting
periods of the grants. The vesting periods and the long-term performance periods under our PSUs also encourage retention of top executive talent. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The following pie charts illustrate the allocation of all compensation earned for fiscal year 2018 (as shown in the Summary Compensation Table at page
64 below), for our chief executive officer and the average the other named executive officers. We maintain this <FONT STYLE="white-space:nowrap">at-risk</FONT> philosophy despite market data showing that base salary is emphasized in Australia and
Europe, where certain of our executive officers reside. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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summary</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><U>Other NEOs FY18 compensation summary</U></B></P>
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</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Provide market-competitive cash compensation.</I></B> Our objective is to provide a target total compensation
program that is competitive with <FONT STYLE="white-space:nowrap">similarly-sized</FONT> <FONT STYLE="white-space:nowrap">US-based</FONT> public companies in the medical device and medical technology industries with which we compete for executive
talent. The committee reviews benchmark data for the individual and for the group as a whole, but does not target a specific benchmark level. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">During fiscal year 2018, the committee used a broad guideline of total target cash compensation at approximately the 60<SUP
STYLE="font-size:85%; vertical-align:top">th</SUP> to 70<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile of our US peer group; and that total target cash compensation should reflect a relatively lower emphasis on salary and a
higher percentage of pay at risk in the form of an annual cash incentive. The guideline is broad, to recognize individual situations, and also allows us to reflect the fact that we set challenging targets for our short-term incentive programs. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Align stockholder interest with long-term equity.</I></B> Equity is a key component of our executive compensation. We believe our equity-based
incentive award program enhances long-term stockholder value and encourages long-term performance, because equity-based incentive awards align our executives&#146; financial rewards with those of our stockholders, through appreciation of our stock
price. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">During fiscal year 2018, we continued the PSU equity program introduced in fiscal year 2013, and PSUs represented 50% of the equity value in
our annual grants. In fiscal year 2018, we also continued our practice of providing executives the choice to select whether the balance of their equity awards would be entirely in the form of stock options, entirely in RSUs or evenly split (in
value) between the two. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Performance criteria for PSUs granted during fiscal year 2018 are based on absolute total shareholder return over a
four-year measurement period, with an opportunity to accelerate payouts after year three, if TSR performance is high enough. The committee believes this design aligns with actual stockholder experience, is less subject to <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">point-to-point</FONT></FONT> volatility, rewards performance for which executives are accountable, provides a stronger retention mechanism, and promotes long-term value creation. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Make informed decisions.</I></B> The committee annually retains an independent compensation
consultant to advise the committee on executive compensation matters for executive officers and to perform a comprehensive market analysis of our executive compensation program, pay levels, and relative operating performance. See the section titled
&#147;<I>Peer group comparisons</I>&#148; below. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_37"></A>&nbsp;Compensation&nbsp;process&nbsp;</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Compensation committee role.</I></B> The compensation committee establishes our general compensation policies, and
reviews and approves salaries, short-term incentives, equity-based compensation, and all other elements of the compensation offered to our executive officers (including our named executive officers), and all other executives that report to the
office of the chief executive officer. The board has determined that all members of the compensation committee are independent directors under NYSE standards. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">On an annual basis, the committee considers each of the three primary elements of compensation (salary, cash incentives and equity) based on market
analysis, individual performance, the value of the individual to ResMed, and other factors it deems relevant. The committee also considers regional variation. For example, base salaries for certain positions in countries outside the US, when
translated to US dollars, may compare to market differently when compared to US market peers than when compared to peers in their home country. There are also regional variations in market practices for short-term and long-term incentives. The
committee attempts to balance the goal of paying consistently with the local market, with the goal of maintaining internal consistency using a US pay philosophy for executives in different regions, which creates alignment throughout the executive
team. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The committee also reviews our peer group, our executive benefits and perquisites, our equity pay practices, and the risks related to our
compensation programs, on an annual basis. The committee regularly considers supplemental compensation policies and practices such as change of control, severance, and retirement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Timing of decisions.</I></B> In fiscal year 2018, we continued the practice established in fiscal year 2017, to
<FONT STYLE="white-space:nowrap">re-set</FONT> our executive officers&#146; compensation on December&nbsp;1, to align with our annual equity grant, which generally occurs on the date of our stockholder meeting in November. This timing is consistent
with our practice for all employees. This timing allows us to consider the previous year&#146;s performance, and the new fiscal year&#146;s performance goals, in compensation decisions. The timing of compensation decisions does not allow us to
consider feedback following a lower-than-expected <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">say-on-pay</FONT></FONT> vote, since we would only just have the new
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">say-on-pay</FONT></FONT> information and no time to consider feedback or reactions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The committee generally makes decisions on the principal components of executive officer compensation &#150; base salary, short-term incentive
potential, equity awards, and perquisites &#150; during the first quarter of the fiscal year. Specific short-term incentive performance targets for executive officers are generally determined before or during the first month of the fiscal year for
that year. Determining actual performance versus targets and calculating short-term incentive payouts generally occur in the first two months following the end of our fiscal year. Short-term incentive payments to our executive officers are made
after the fiscal <FONT STYLE="white-space:nowrap">year-end</FONT> audit is complete. If other executive compensation issues arise during the course of the year, the committee takes those issues up on a <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">case-by-case</FONT></FONT> basis. The impact on compensation of a change of role is generally decided contemporaneous with the role change. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Independent compensation consultants.</I></B> In making its decisions, the committee reviews data obtained from peer group companies and considers
the recommendations of management and the analysis and advice of its independent compensation consultants regarding each element of compensation. The committee has independent authority to retain advisors. The committee has retained FW&nbsp;Cook,
Inc., an independent compensation consultant, to advise the committee with respect to compensation matters for executive officers. FW Cook performs no work for us other than its work providing executive compensation consulting services to the
committee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">During fiscal year 2018, the committee reviewed market practices and benchmark data from FW Cook, and considered ResMed&#146;s and our
executives&#146; relative performance and the recommendations of the consultants. FW Cook also advised the committee regarding the Australian company benchmarks for the positions of our chief executive officer, as well as executive officers who
reside there. FW Cook further advised the committee regarding long-term incentive design practices and alternatives as well as peer group equity practices.&nbsp;In addition to FW Cook, management retained Aon plc to provide performance results of
our PSUs. The committee also considered the experience and knowledge of committee members regarding compensation practices for comparable positions at other companies. Although the committee considers various sources of information and
recommendations, ultimately, of course, the committee relies on its own independent judgment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Management&#146;s role.</I></B> Our chief
executive officer, president and chief operating officer, chief human resources officer, chief administrative officer and global general counsel, chief financial officer, and members of their teams, provide input and recommendations to the committee
regarding pay to the executive officers and other members of management for the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">48 </P>

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committee&#146;s review and approval. While the committee gives consideration to these recommendations, it exercises independent judgment. Management provides to the compensation consultants and
to the committee historical and prospective breakdowns of total compensation components for each executive officer and financial data in support of the various compensation components. Management also provides recommendations that include financial
goals and criteria for our annual and long-term incentive plans. Management gathers the information it provides from consultants, the market, and internal resources, allowing designs and strategies to be tied directly to our business needs. While
management members typically attend committee meetings, the committee chair excuses individual management members as appropriate for independent review and decision-making. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Peer group comparisons.</I></B> In making its decisions on executive compensation, the committee generally uses industry compensation surveys
prepared by outside consultants, which review each position against comparable positions within a peer group. The US peer companies are generally within <FONT STYLE="white-space:nowrap">one-quarter</FONT> and four times the size of our revenue and
market capitalization, with ResMed in the middle to avoid bias from too many large or small peer companies. We select peer companies that are medical device or medical technology companies with a market capitalization, profitability, revenue, and
employee population roughly comparable to ours. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The committee periodically reviews the composition of the peer group and the criteria and data used
in compiling the list, and considers modifications to the group. In May 2017, before making fiscal year 2018 decisions, the committee reviewed the peer group, considered other companies for inclusion, and made no changes. The 17 companies comprising
the US peer group for fiscal year 2018 decisions were: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Alere Inc.</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">Illumina Inc.</TD></TR>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT
STYLE="white-space:nowrap">Bio-Rad</FONT> Laboratories, Inc.</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">Intuitive Surgical, Inc.</TD></TR>
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<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">C.R. Bard, Inc.</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">Mettler-Toledo International Inc.</TD></TR>
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<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Charles&nbsp;River&nbsp;Laboratories&nbsp;International,&nbsp;Inc.</P>
<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">NuVasive, Inc.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">The
Cooper Companies Inc.</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">PerkinElmer Inc.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Dentsply Sirona
Inc.</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">STERIS plc</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Edwards Lifesciences Corp.</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">Varian&nbsp;Medical&nbsp;Systems&nbsp;Inc.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Haemonetics Corp.</P>
<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">Waters Corporation</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Hologic Inc.</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">As of June&nbsp;30, 2017, compared to our US peer group, ResMed was at the 48<SUP
STYLE="font-size:85%; vertical-align:top">th</SUP> percentile for market capitalization, the 22<SUP STYLE="font-size:85%; vertical-align:top">nd</SUP> percentile for revenue, the 45<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile
in operating income, and the 22<SUP STYLE="font-size:85%; vertical-align:top">nd</SUP> percentile for employee population. The committee believes that this peer group reflected a reasonable cross-section of our labor market for talent and included
companies that our investors might consider in determining the reasonableness of our pay and alignment of our pay with our performance. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In May
2018, the committee approved a new peer group to be used for fiscal year 2019 compensation decisions. The committee removed Alere and C.R. Bard, which had been acquired, and replaced them with two medical device companies: Teleflex Incorporated and
Align Technology, Inc. which each have less revenues, operating income and market capitalization than ResMed. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The committee also considers
compensation survey data from FW Cook regarding <FONT STYLE="white-space:nowrap">similarly-sized</FONT> Australia-based publicly listed companies for our Australia-based chief financial officer, and for other executive officers based in Australia,
as well as for our chief executive officer. Our chief executive officer is based in the US, so the Australian data are viewed as supplemental and secondary to the US data, and reviewed to understand the differences between the potential expectations
of our NYSE and ASX stockholders.&nbsp;The committee generally gives less weight to the Australian peer group, because the ASX peer group is less comparable to ResMed, and because ResMed compensates senior executives and directors on a <FONT
STYLE="white-space:nowrap">US-style</FONT> pay model, which is structurally and quantitatively different from the typical practices of companies in the ASX peer group. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">49 </P>

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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In May 2017, the committee reviewed the existing Australian peer group, considered other Australian
companies for inclusion, and decided no changes were needed. The thirteen Australian peer group companies reviewed for 2018 compensation decisions were: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
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<TD WIDTH="48%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Adelaide Brighton Limited</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">Healthscope&nbsp;Limited</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Ansell Limited</P>
<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">Incitec&nbsp;Pivot&nbsp;Limited</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Boral Limited</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">James Hardie Industries PLC</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Cochlear Limited</P>
<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">Primary Health Care Limited</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Computershare Limited</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">Ramsay&nbsp;Healthcare</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">CSL Limited</P>
<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">Sonic&nbsp;Healthcare</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Fisher&nbsp;&amp; Paykel Healthcare Limited</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">As compared to our Australian peer group, ResMed was above the 75<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile for
market capitalization, and between the median and the 75<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile for revenue. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">In May 2018, the committee
reviewed the Australian peer group to be used for fiscal year 2019 compensation decisions, and made no changes. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B>&nbsp;<A NAME="toc612931_38"></A>Elements&nbsp;of&nbsp;compensation&nbsp;</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Base salary.</I></B> Base salaries provide our executives with a degree of financial certainty and stability. To
attract and retain highly qualified executives, we pay within salary ranges that are generally based on similar positions in companies of comparable size and complexity in the US. Using the peer group data, the committee assesses market base
salaries at the median, 60<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> and 75<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentiles. Our executive compensation philosophy is to pay at least near the median for high performing
and experienced officers when targets are achieved. Adjustments are made based on the committee&#146;s assessment of position, performance, experience, and role. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Annual salary adjustments for fiscal year 2018 were effective December&nbsp;1. Based in part on the US peer data, the committee positioned our chief
executive officer&#146;s fiscal year 2018 target total cash compensation at the 60<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile of our US peers. The committee thought it appropriate to continue to structure our chief executive
officer&#146;s cash compensation with a greater portion, compared to market, of <FONT STYLE="white-space:nowrap">at-risk</FONT> short term incentive compensation. Thus, our chief executive officer&#146;s base salary was increased by 4%, resulting in
base salary at about the median, while his short-term incentive target was maintained at 130% of salary, a 75<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile percentage; resulting in total target cash compensation at the 60<SUP
STYLE="font-size:85%; vertical-align:top">th</SUP> percentile. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">For fiscal year 2018, the committee increased the salaries of each of our other
named executive officers by 2.5% in constant currency, slightly less than our company budgeted increase, while increasing the amount for a recently-promoted officer by approximately 24%, reflecting his increased responsibilities. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">50 </P>

</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The table below shows the base salaries for our named executive officers. For Mr.&nbsp;Sandercock, the
amounts shown in the table below represent the US dollar equivalent of his <FONT STYLE="white-space:nowrap">non-US</FONT> dollar-denominated salaries, which is impacted by currency fluctuations. We believe that <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">year-to-year</FONT></FONT> currency fluctuations make the constant currency increases most meaningful for officers residing outside the US. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
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<TD></TD>
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<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Named</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>executive&nbsp;officer</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>2018</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;base&nbsp;salary&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>2017</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;base&nbsp;salary&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Constant&nbsp;currency</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>percentage</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>increase</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>from&nbsp;2017&nbsp;to&nbsp;2018</B></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-LEFT:1.00pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1.00pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Michael Farrell</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><I>Chief executive officer</I></P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$950,000</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$912,000</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">4.2%</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Rob Douglas</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><I>President and chief operating officer</I></P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$821,743</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$801,700</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">2.5%</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Jim Hollingshead</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><I>President - sleep business</I></P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$620,000&nbsp;<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$501,005</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">23.8%</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">David Pendarvis</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><I>Chief administrative officer, global general counsel</I> <I>and secretary</I></P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$539,193</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$526,042</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">2.5%</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Brett Sandercock</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><I>Chief financial officer</I></P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$459,659&nbsp;<SUP STYLE="font-size:85%; vertical-align:top">(b)</SUP><BR>
<P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><I>AUD&nbsp;612,878</I></P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$460,406&nbsp;<SUP STYLE="font-size:85%; vertical-align:top">(b)</SUP><BR>
<P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><I>AUD&nbsp;597,930</I></P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">2.5%</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(a)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Mr.&nbsp;Hollingshead&nbsp;received&nbsp;his&nbsp;annual&nbsp;increase&nbsp;effective&nbsp;July&nbsp;1,&nbsp;2017,&nbsp;at&nbsp;the&nbsp;time&nbsp;of&nbsp;his&nbsp;promotion.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(b)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">These&nbsp;amounts&nbsp;reflect&nbsp;the&nbsp;exchange rate we used in setting our budget for the respective fiscal year. The exchange rate used for 2018 was approximately AUD:USD 1 to 0.75, and the exchange rate for 2017 was
approximately AUD:USD to 0.77. The committee approved base&nbsp;salary in local currency.</TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>An</I></B><B><I>nual performance-based short-term incentives.</I></B> The primary purpose of our annual short-term
cash incentive program is to motivate our executives to meet or exceed our company-wide and business unit short-term operating performance objectives. The program is intended to motivate our management team to execute on our business goals, to
realize our budgeted growth, to share our success with eligible executives to the extent warranted by our performance, and to provide competitive compensation to eligible executives in a manner consistent with our philosophy of paying for
performance. Amounts earned are based on a targeted percentage of actual salary paid for the year and not the base salary in effect at the end of the year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In setting appropriate short-term incentive target opportunities for fiscal year 2018, the committee reviewed the 50<SUP
STYLE="font-size:85%; vertical-align:top">th</SUP>, 60<SUP STYLE="font-size:85%; vertical-align:top">th</SUP>, and 75<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentiles of peer comparables (both in terms of target amounts and amounts
actually earned). The committee also considered the potential effect of short-term incentive targets on total cash compensation and reviewed total cash compensation at peer comparables at those same percentiles. For fiscal year 2018, the committee
made no change to the target short-term incentive opportunity for our chief executive officer and other named executive officers, which range from 75% to 130%, consistent with its philosophy to have more cash compensation at risk and tied to our
performance. This incentive level, as a percentage of base salary, positioned our chief executive officer between the 60<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> and 65<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentiles
for total target cash compensation among US peers for fiscal year 2018. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The committee believes it best to tie each executive&#146;s incentive pay
to the areas over which the executive can assert the most influence and to vary the weighting to reflect the relative focus desired by the executive for each metric. For fiscal year 2018, the committee decided to revise the short-term incentive
metrics to align with revisions in ResMed&#146;s operating model, which transitioned from a regionally-based model to a model primarily based on specific businesses that operate globally. The committee determined that adjusted net sales and adjusted
operating profit as a percentage of revenue remained important performance metrics on a global basis, because these goals focus on profitably increasing our revenue, as well as <FONT STYLE="white-space:nowrap">top-</FONT> and bottom-line growth. The
committee, however, determined that the operating profit metric, which in prior years was measured after tax, should be measured before tax. The committee felt this change would reduce either the positive or negative impact of external events
outside of executive control, such as legislative tax rates. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">51 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">As a result of these decisions, the committee approved a short-term incentive program for fiscal year
2018 with the following elements: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">The chief executive officer and the president and chief operating officer continued to have their incentives weighted
50% on adjusted net sales and 50% on profitability, with the adjusted operating profit metric measured before tax, rather than <FONT STYLE="white-space:nowrap">after-tax.</FONT> </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Other officers with functional responsibilities (our chief financial officer and our global general counsel and chief
administrative officer) had the following three metrics and weights: </P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">40%: adjusted net revenue; </P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">40%: adjusted operating profit as a percentage of sales; and </P></TD></TR></TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">20%: adjusted net revenues from respiratory care, <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">software-as-a-service,</FONT></FONT></FONT> Asia growth markets, and Germany Healthcare (&#147;growth businesses&#148;), in the aggregate. The committee added this new metric to increase our executive&#146;s focus on these
smaller growth businesses. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Officers with specific business responsibilities (our president&#151;sleep business) had five metrics, equally weighted
as follows: </P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">20% based on adjusted total company net revenues; </P></TD></TR></TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">20% based on adjusted total company operating profit before tax as a percentage of sales; </P></TD></TR></TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">20% based on the specific business&#146; adjusted operating profit as a percentage of sales; </P></TD></TR></TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">20% based on the specific business&#146; adjusted net revenues; and </P></TD></TR></TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">20% based on growth businesses&#146; adjusted net revenue. </P></TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Other features of the fiscal year 2018 short-term incentive program continued unchanged in fiscal year 2018, such as measuring revenues on a constant
currency basis to remove the effect of factors outside management&#146;s control. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The committee believed these weightings appropriately balance
overall enterprise financial performance and specific areas of individual responsibility, while aligning incentives to promote cooperation between the sleep and growth businesses. The performance measures and their weighting by named executive
officer for fiscal year 2018 were: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="85%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Named</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>executive</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>officer</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjusted&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;net&nbsp;sales&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Adjusted&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>operating&nbsp;profit&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>before&nbsp;tax&nbsp;as&nbsp;a&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>percentage&nbsp;of&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>revenue&nbsp;&nbsp;</B></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Specific</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>business</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>adjusted</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>operating&nbsp;profit&nbsp;&nbsp;</B></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Specific</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>business</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>adjusted</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>operating&nbsp;profit&nbsp;&nbsp;</B></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Growth&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;businesses&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;adjusted&nbsp;net&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>sales</B></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Michael Farrell</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">50%</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">50%</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">-</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">-</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Rob Douglas</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">50%</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">50%</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">-</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">-</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Jim&nbsp;Hollingshead</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">20%</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">20%</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">20%</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">20%</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">20%</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">David Pendarvis</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">40%</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">40%</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">-</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">20%</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Brett&nbsp;Sandercock</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="center"> 40%<P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="center"> 40%<P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">-</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">20%</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The payout structure for our short-term incentive program has remained the same for several years. It is based on
achieving <FONT STYLE="white-space:nowrap">pre-established</FONT> targeted milestones for each performance metric, and applies to each metric individually. It is described in the following table. Payouts are expressed as a percentage of short-term
incentive opportunity for that performance metric. Performance between the achievement levels is paid based on linear interpolation. The committee has established a cap on the maximum short-term incentive total payout per executive officer at 200%
of the officer&#146;s target short-term incentive opportunity. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="22%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"><B>No&nbsp;payout</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7"><B>50%&nbsp;payout&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7"><B>100%&nbsp;payout&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7"><B>150%&nbsp;payout&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt"><B>200%&nbsp;payout&nbsp;&nbsp;&nbsp;&nbsp;</B></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="center">&lt;85% of goal</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">85%&nbsp;of&nbsp;goal&nbsp;&nbsp;</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">100%&nbsp;of&nbsp;goal&nbsp;&nbsp;</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">115%&nbsp;of&nbsp;goal&nbsp;&nbsp;</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><U>&gt;</U>130%&nbsp;of&nbsp;goal&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">52 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The committee approves the actual short-term incentive amounts for executive officers under these
criteria after the end of the fiscal year, after reviewing our financial data and performance. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">To promote the retention value of our incentive
programs, the committee has adopted a policy that if an executive officer separates employment before the date of payment, we will not be obligated to pay any cash or other short-term incentive awards. This policy does not impact options, RSUs, or
other long-term incentives that have vested at the time of separation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The fiscal year 2018 targets and actual performance for each of the metrics
are listed below. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="33%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Short-term</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>incentive</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>component</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Threshold&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>performance-&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>50%&nbsp;payout&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>($&nbsp;in&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>thousands)&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Targeted&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>performance-&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>100%&nbsp;payout&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>($&nbsp;in&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>thousands)&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Maximum&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>performance-&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>200%&nbsp;payout&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>($&nbsp;in&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>thousands)&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Actual&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>performance&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>($&nbsp;in&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>thousands)&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Percentage&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>achieved&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Short-term</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>incentive</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>percentage</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>payout</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>based&nbsp;on</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>percentage</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>achieved</B></P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Adjusted net sales</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">$1,929,651</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">$2,270,177</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">$2,951,230</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">$2,259,764</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">99.54%</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">98.47%</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Adjusted operating profit as a<BR>percentage of revenue</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">23.13%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">27.21%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">35.37%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">27.77%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">102.08%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">106.93%</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total achieved after weighting</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7"><B>102.70%</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.30em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>(50% each)</B></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" COLSPAN="3" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"><B>Farrell and Douglas</B>&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Growth businesses adjusted<BR>net sales (20% weighting)</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$541,465</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$637,017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$828,122</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$593,887</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">93.23%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">77.43%</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total achieved after weighting</B></P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="middle" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="middle" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="middle" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="middle" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="middle" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7" BGCOLOR="#cceeff"><B>97.65%</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">(40%-40%-20%)</FONT></FONT></B></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" COLSPAN="3" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><B>Pendarvis&nbsp;and&nbsp;Sandercock</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Sleep business adjusted net sales</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$1,392,578</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$1,638,327</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$2,129,825</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$1,670,934</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">101.99%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">106.63%</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Sleep business adjusted<BR>operating profit as a percentage of revenue</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">27.53%</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">32.39%</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">42.11%</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">31.72%</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">97.93%</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">93.10%</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>Total achieved after weighting</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7"><B>96.51%</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL"><B>(all components 20%)</B></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="center"><B>Hollingshead</B> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>We set challenging goals for our executives for fiscal year 2018. </I></B>Our fiscal year 2018 adjusted net sales
goal required 10% constant currency growth over fiscal year 2017. When the fiscal year 2018 adjusted net sales goal was set, it was above our peers&#146; median trailing twelve-month revenue growth rate of 8% through June&nbsp;30, 2017 (based on our
compensation consultant&#146;s August 2017 report). Our actual fiscal year 2018 net sales growth (adjusted for incentive plan calculations) was 9.3%, which was above the median of our peer group. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Similarly, our fiscal year 2018 goal for adjusted operating profit as a percentage of revenue was set at 27.21%. This was an increase over fiscal year
2017&#146;s adjusted operating profit of 26.82%. Our actual adjusted operating profit performance of 27.77% was above our internal goal. Adjusted operating profit margin was above the median of our peer group&#146;s trailing twelve-month operating
profit performance through June&nbsp;30, 2018, reflecting our high margins. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We believe that our goals are challenging, because they require strong <FONT
STYLE="white-space:nowrap">top-</FONT> and bottom-line growth, and we believe that it is a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">pay-for-performance</FONT></FONT> outcome that is consistent with our philosophy that we pay
below-target bonuses when we fall short of goals.</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">53 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In calculating short-term incentive global metrics achievement, the committee made the following
adjustments from our GAAP financial statement revenue and operating profit calculations to eliminate the impact of certain <FONT STYLE="white-space:nowrap">non-operating</FONT> revenue and expenses: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">GAAP net sales of approximately $2.34&nbsp;billion were adjusted as follows: </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">using budgeted exchange rates reduced performance by approximately $75&nbsp;million; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">excluding sales contributed by unbudgeted acquisitions increased performance by approximately $5&nbsp;million.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">GAAP global operating profit before tax was approximately $542&nbsp;million, and was adjusted as follows:
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">excluding stock-based compensation expenses increased performance by approximately $48&nbsp;million;
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">excluding amortization of acquired intangibles increased performance by approximately $46&nbsp;million;
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">excluding restructuring expenses increased performance by approximately $18&nbsp;million; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">excluding profits and losses from unbudgeted acquisitions increased performance by approximately $1&nbsp;million; and
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">including ResMed&#146;s share of losses from SleepScore Labs, a joint venture, reduced performance by approximately
$2&nbsp;million. </P></TD></TR></TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The short-term incentive metrics for business unit achievement use
<FONT STYLE="white-space:nowrap">non-GAAP</FONT> measures that ResMed uses internally in planning, forecasting, and evaluating the results of operations. The primary difference from GAAP is they use selected accounts and entities that align with the
leader of the unit&#146;s responsibilities and control. These measures are consistently applied by the committee in setting targets at the beginning of the fiscal year and in assessing performance against the targets. In measuring achievement in
fiscal year 2018, the committee made the following adjustments to eliminate the impact of certain <FONT STYLE="white-space:nowrap">non-operating</FONT> revenue and expenses: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Adjusted sleep business net sales is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure from our internal
reporting.&nbsp;Our internal reporting for net revenue in the sleep business, excluding Brightree, was $1.7&nbsp;billion in fiscal year 2018. This net revenue was adjusted by using budgeted exchange rates, which reduced performance by approximately
$46&nbsp;million. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Adjusted sleep business operating profit is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure from our internal
reporting. Our internal reporting for sleep business operating profit was approximately $549&nbsp;million. This was adjusted as follows: </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">including ResMed&#146;s share of losses from SleepScore Labs, a joint venture, reduced performance by approximately
$5&nbsp;million; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">including working capital charges for inventory and accounts receivable decreased performance by $40&nbsp;million;
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">excluding stock-based compensation expenses increased performance by $26&nbsp;million; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">excluding litigation expenses increased performance by $15&nbsp;million. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Adjusted growth business net sales is a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure from our internal
reporting. Our internal reporting for net revenue in the respiratory care, <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">software-as-a-service,</FONT></FONT></FONT> German Healthcare, and Asia
growth markets, in the aggregate, was approximately $623 million This net revenue was adjusted by using budgeted exchange rates, which reduced performance by approximately $29 million. Revenue from acquisitions was included in both the target and
actual performance. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">54 </P>

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<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The following table shows the 2018 incentives at target and as earned. All actual short-term incentive
payments were funded in accordance with <FONT STYLE="white-space:nowrap">pre-established</FONT> formulas; there was no discretionary or individual adjustment by the compensation committee. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="14%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Named</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>executive</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>officer</B></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Annual</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>short-term</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;incentive&nbsp;target&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>percentage</B></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Annual</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><FONT STYLE="white-space:nowrap">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;short-term&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>incentive</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>target</B></P>
<P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Annual</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><FONT STYLE="white-space:nowrap">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;short-term&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>incentive</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>earned</B></P>
<P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Actual</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>short-term</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;incentive&nbsp;as&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>a&nbsp;percentage</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>of&nbsp;target</B></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Michael Farrell</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">130%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$1,214,400&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$1,247,188&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">102.70%</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Rob Douglas</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">100%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$813,385&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$835,346&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">102.70%</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Jim Hollingshead</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">80%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$496,000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$478,707&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">96.51%</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">David Pendarvis</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">75%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$400,283&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$390,861&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">97.65%</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" NOWRAP STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL">Brett Sandercock</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">80%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$363,882&nbsp;<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$355,317&nbsp;<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">97.65%</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(a)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">These amounts were approved in local currency by the committee. The foreign currency is converted to USD based on the fiscal year 2018 average annual exchange rate of approximately AUD:USD 1 to 0.75.</TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The committee has approved a short-term incentive program for fiscal year 2019 that reflects minor adjustments to the
metrics. The 2019 program has the following elements: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">The chief executive officer and the president and chief operating officer will continue to have the same metrics and
weightings as fiscal year 2018, except that the adjusted operating profit metric will be measured as a constant currency dollar amount, rather than as a percentage of revenue. The committee felt this change would make our profitability metric more
transparent, directly related to the bottom line, and consistent with metrics used by our peers. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Other officers with functional responsibilities will have the same metrics and weights as our chief executive officer
and the president and chief operating officer. The committee eliminated the 2018 metric on growth businesses&#146; revenue, to emphasize the revenue and profitability metrics, and align with the metrics for the chief executive officer.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Officers with specific business unit responsibilities will have four metrics, weighted as follows:
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">20% based on adjusted global net revenues; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">20% based on adjusted global operating profit measured as a constant currency dollar amount; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">30% based on the specific business&#146; adjusted operating profit measured as a constant currency dollar amount; and
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">30% based on the specific business&#146; adjusted net revenues/ </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The committee made these changes to align all executives to an overall 50% profitability / 50% revenue split, increase the weight of business unit
achievement, and align the profitability metric across all plans. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Other features of the fiscal year 2018 short-term incentive program will continue
unchanged in fiscal year 2019. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Lo</I></B><B><I><FONT STYLE="white-space:nowrap">ng-term</FONT> equity award program.</I></B> The major
component of our named executive officers&#146; direct compensation provides a long-term incentive and alignment with stockholders through equity participation. The primary purpose of granting equity awards is to link our officers&#146; financial
success to that of our stockholders, with the value of the equity awards increasing only as our stock price increases, and to promote long-term value creation. Our equity mix is comprised of 50% long-term performance-based PSUs, and the remaining
50% in performance-based RSUs and stock options. This mix increases the capability of the committee to effectively manage our use of shares under our stock plan, balances the performance leverage and performance risk provided by various equity
vehicles, more closely conforms with practices at our peer companies, and promotes long-term stock appreciation and value creation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">55 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">During fiscal year 2018, we continued our practice to grant PSUs for 50% of the annual equity value
for executive officers, and to provide named executive officers the choice to select whether the balance of their equity awards would be entirely in the form of stock options, entirely in RSUs or evenly split (in value) between the two. In addition,
the committee continued its practice of granting RSU awards to our executive officers and certain other officers conditioned on achieving certain performance targets, in addition to having a time-based vesting period. This condition was originally
intended for units to qualify as performance-based compensation under US tax laws before November 2017, but also provides a tie to our performance.&nbsp;The combined availability of options and RSUs gives our executives the opportunity to balance
the incentive award in a manner that suits their particular risk profile and their own preferences in financial or tax planning in US and <FONT STYLE="white-space:nowrap">non-US</FONT> jurisdictions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We do not pay dividends or dividend equivalents on any of our equity awards. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>No changes to PSU program for fiscal year 2018. </I></B>For fiscal year 2018 awards, the committee did not make any changes to the PSU program
from fiscal year 2017. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Fiscal year 2018 grant values.</I></B>&nbsp;Each year, the committee establishes grant values, and the relative ratios
of PSUs, RSUs, or stock options are determined by the relative values computed under Financial Accounting Standards Board Accounting Standards Codification Topic 718. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In determining the value of awards granted to specific named executive officers, the committee reviewed our performance, the number of outstanding
awards available, the present value of the proposed grant, existing unvested option and RSU ownership, the awards granted in prior years, and the grant practices of our peer group companies. For fiscal year 2018, the committee reviewed peer company
data to determine competitive equity award values, at the median, 60<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> and 75<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentiles, for each officer&#146;s position. The committee
also considered internal equity relationships, to promote a team-based approach by our senior management team. In arriving at the specific grant size, the committee considered the peer group benchmarks at an individual level, as well as aggregate
equity compensation for similar groups at our peers.&nbsp;The committee also considered our officer&#146;s individual performances during fiscal 2017, as well as their experience in their role, and expected future contributions. Taking all those
factors into account, for fiscal year 2018 the committee increased our annual equity program grant values from fiscal 2017 by approximately 13% for each of our chief executive officer, and our president and chief operating officer, and in a range
from 5% to 15% for our other named executive officers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Based on both the FW Cook report at the beginning of fiscal year 2018, as well as their
updated August 2018 review of executive compensation, the fiscal year 2018 equity grant for our chief executive officer was near the 60<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile for long-term equity incentives. This resulted
in total target compensation near the 60<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile of the updated peer group for fiscal year 2019 decisions. The committee believed this positioning appropriate given our chief executive
officer&#146;s strong performance and ResMed&#146;s resulting strong business and financial results. The other named executive officers were positioned consistent with the committee&#146;s decision to emphasize
<FONT STYLE="white-space:nowrap">at-risk</FONT> compensation elements and align with stockholders&#146; interests. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">56 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The following table sets forth equity grant values provided to our named executive officers in fiscal
year 2018, as well as the elections made by our named executive officers regarding the form of award to receive. When it approved the 2018 equity grants in August 2017, the committee approved specific dollar values, and a valuation firm used those
values and estimated inputs to calculate the specific number of stock options, RSUs, or PSUs to be granted based on its estimate of the value of the awards on the grant date.&nbsp;The intended values approved by the committee and the actual grant
date values were the same. The table below sets forth the grant values, based on the NYSE closing stock price on the applicable date of the grants, a Black-Scholes formula for the options, the probable outcome of the performance conditions for the
RSUs, and a Monte-Carlo simulation for the PSUs, each consistent with the accounting standards of FASB 718. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="36%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="14%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Named</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>executive</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>officer</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"><B>&nbsp;&nbsp;&nbsp;&nbsp;Grant&nbsp;value&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Percentage</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>of&nbsp;grant</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>value&nbsp;in</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;performance-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>based&nbsp;stock</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>units</B></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Percentage</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>of&nbsp;grant</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;value&nbsp;in&nbsp;stock&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>options</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;Percentage&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>of&nbsp;grant</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>value&nbsp;in</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>restricted</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>stock&nbsp;units</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Michael Farrell</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$6,800,000</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">50%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">25%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">25%</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Rob Douglas</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$4,500,000</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">50%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">25%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">25%</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Jim Hollingshead</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$2,000,000</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">50%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">0%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">50%</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">David Pendarvis</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$1,700,000</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">50%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">25%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">25%</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Brett Sandercock</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$2,000,000</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">50%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">0%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">50%</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="10%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_39"></A>Terms&nbsp;of&nbsp;performance&nbsp;stock&nbsp;
units</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Program design.</I></B> Equity grants to named executive officers during fiscal year 2018 were made under our 2009
Incentive Award Plan, as amended and restated during fiscal year 2018. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Since fiscal year 2013 we have granted long-term performance stock units, or
PSUs. As described above, we revised the program design for the fiscal year 2016 year PSUs (granted in November 2015), and continued this revised design in fiscal years 2017 and 2018. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">PSUs issued in fiscal year 2015 completed their performance period in fiscal year 2018. The fiscal 2015 PSUs were earned and cliff-vested after the
third anniversary of the grant, after the committee certified the extent to which TSR performance criteria had been met, based on our TSR performance relative to the TSR performance of companies included in the US Dow Jones Medical Device Index. The
share price at the grant date (our stockholder meeting date) was used as the starting point for the TSR calculation, and a trailing <FONT STYLE="white-space:nowrap">30&nbsp;trading-day</FONT> average share price was used to calculate the share price
at the end of the performance period. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The fiscal year 2015 PSUs had a performance-based funding schedule that required us to perform at the median
of the index before any portion of the performance-based equity awards could be earned, and required performance at the 60<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile to earn the target number of shares. Shares earned could
range from a minimum of 0% of target shares, to a maximum of 200% of target shares, based on the following schedule: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>ResMed&#146;s</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>relative&nbsp;TSR</B></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Payout&nbsp;as&nbsp;a</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>percentage&nbsp;of&nbsp;target</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="center">Below 50<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">0%</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="center">50<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">40%</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="center">60<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">100%</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="center">80<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> percentile and above</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">200%</TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Shares earned between these percentiles would be based on linear interpolation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">PSUs issued during fiscal years 2016, 2017, and 2018 are earned and cliff vest after the fourth anniversary of the grant after a four-year period based
on our absolute TSR performance, with an opportunity to accelerate payouts after year three, if TSR performance is high enough. The share price at the grant date (our stockholder meeting date) is used as the starting
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">57 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">
point for the TSR calculation, and a trailing <FONT STYLE="white-space:nowrap">30&nbsp;trading-day</FONT> average share price is used to calculate the share price at the end of the performance
period. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Payouts range from 0% to 225% of target, based on the schedule below: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="29%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="20%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="20%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"><B>Growth&nbsp;requirements</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Annual&nbsp;base&nbsp;
TSR&nbsp;&nbsp;&nbsp;&nbsp;<BR>growth</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;Cumulative&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><FONT STYLE="white-space:nowrap">4-year&nbsp;TSR</FONT></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;Accelerated&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>cumulative</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><FONT STYLE="white-space:nowrap">3-year&nbsp;TSR</FONT></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;Payout&nbsp;percentage&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>of&nbsp;target&nbsp;shares</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>granted</B></P>
<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="center">Below threshold</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">Below&nbsp;5%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">Less&nbsp;than&nbsp;22%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">Less&nbsp;than&nbsp;16%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">0</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="center">Threshold</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">5%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">22%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">16%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">50%</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="center">Target</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">10%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">46%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">33%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">100%</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL" ALIGN="center">Maximum</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">15%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">75%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">52%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">225%</TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Shares earned between these achievement levels would be based on linear interpolation. The program has several features
to minimize the impact of daily volatility and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">point-to-point</FONT></FONT> variation. A 30 <FONT STYLE="white-space:nowrap">trading-day</FONT> average price is used to measure
performance at the end of the period. In addition, if cumulative TSR is 16% after three years, then target is earned, with interpolation for three-year cumulative TSR between 16% and 52%. Finally, if cumulative TSR after grant is greater than 33% at
the end of any fiscal quarter in the first three years, then 25% of the target award would be deemed earned, banked and paid out at the end of year three, even if performance at the end of year three is below the year-three threshold. The banking
can only occur once, and any final payouts would be net of the banked amount. The rationale for banking this relatively small payout that remains unvested is to retain award holders for at least three years if shareholders had the opportunity to
realize a minimum level of 33% TSR in a short time. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>PSUs with performance periods that ended in fiscal year 2018 resulted in a payout of less
than target shares and less than grant value.</I></B>&nbsp;The PSUs granted to all our executive officers in November 2014 (fiscal year 2015), ended their three-year performance period during fiscal year 2018. ResMed&#146;s TSR of 64.90% over the
three-year performance period from November 2014 through November 2017 reflected the 53<SUP STYLE="font-size:85%; vertical-align:top">rd</SUP> percentile of the comparison group, and as a result, 57% of the target shares were earned and paid out
under the <FONT STYLE="white-space:nowrap">pre-existing</FONT> formula. This result reflects rigorous goals setting; absolute TSR performance for the three-year period reflected strong price appreciation and added long-term value for our
stockholders. The payout amount was certified by the committee, after reviewing third-party calculations of the total shareholder returns for ResMed and the index peers, as well as the percentile distributions. The payout was formulaic and based on
the plan&#146;s design, aligning pay delivery with performance, with no discretionary adjustments by the committee. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Because of this result, and the
increase in share value during the performance period, our executive officers realized the values from the fiscal year 2015 PSU grants, as shown in the table below. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" ALIGN="center">


<TR>
<TD WIDTH="29%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="16%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Named</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>executive&nbsp;officer</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;Target&nbsp;number&nbsp;of&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>shares&nbsp;at&nbsp;grant</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"><B>&nbsp;&nbsp;&nbsp;&nbsp;Value&nbsp;at&nbsp;
grant<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Number&nbsp;of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;shares&nbsp;acquired&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>on&nbsp;vesting</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;Value&nbsp;realized&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>on&nbsp;vesting</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:ARIAL">Michael Farrell</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">48,905</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">$2,500,000</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">27,876</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">&nbsp;&nbsp;&nbsp;&nbsp;$2,359,146</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:ARIAL">Rob Douglas</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">31,984</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">$1,635,000</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">18,231</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">&nbsp;&nbsp;&nbsp;&nbsp;$1,542,890</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:ARIAL">Jim Hollingshead</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">13,987</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;&nbsp;$715,000</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;7,973</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$674,755</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:ARIAL">David Pendarvis</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">13,449</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;&nbsp;$688,000</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;7,666</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$648,774</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:ARIAL">Brett Sandercock</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">15,649</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;&nbsp;$800,000</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;8,920</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$754,900</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="97%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(a)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">The grant date fair value was computed under FASB ASC Topic 718.</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">58 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

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<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_40"></A>Terms&nbsp;of&nbsp;stock&nbsp;options&nbsp;and&nbsp;restricted&nbsp;
stock&nbsp;units&nbsp;</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Stock options.</I></B> During fiscal year 2018, stock options were issued under our 2009 Plan to some of our named
executive officers, because they have a choice of options or RSUs for the 50% of their award that is not contingent on TSR performance. The plan requires that the exercise price of options equal the fair market value on the grant date, as measured
by the closing price of our common stock on the NYSE on that date. Stock options granted to named executive officers and certain other senior executives during the November&nbsp;annual grant process become exercisable
<FONT STYLE="white-space:nowrap">one-third&nbsp;per</FONT> year on November&nbsp;11<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> of each year after the grant date, subject to the executive&#146;s continued service with us. On a qualifying
retirement, options become exercisable on a <FONT STYLE="white-space:nowrap">pro-rata</FONT> basis based on the service period. Executives may exercise vested options until the earlier of: (1)&nbsp;expiration of the grant (generally seven years
after the date of grant), or (2)&nbsp;one year after separation for any reason (except six months after death in the case of <FONT STYLE="white-space:nowrap">non-US</FONT> participants, and, for grants made in fiscal year 2018, three years after a
qualifying retirement). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The committee considers stock options performance-based compensation. The ultimate economic value received by an option
recipient depends on our future stock price performance, and could be zero, if the stock price does not increase above the strike price. These features of stock options align our executives&#146; interests with stockholders&#146; interests. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Restricted stock units.</I></B> During fiscal year 2018, RSUs were granted under our 2009 Plan to all of our named executive officers. The
performance conditions require that RSUs are only earned when we meet threshold levels of profitability described in the table below, based on our actual adjusted performance compared to targeted levels of earnings for each of the three performance
periods: (1)&nbsp;third fiscal quarter; (2)&nbsp;fourth fiscal quarter; and (3)&nbsp;the third and fourth fiscal quarters combined. One half of the RSUs granted may be earned based on the earnings for each of the third and fourth fiscal quarters. No
more than 100% of the RSUs granted may be earned, and once the target is met for a performance period, all RSUs associated with that period are earned. If the target for a performance period is not met, none of the RSUs for that period are earned.
However, if the cumulative target for both periods is achieved in either period or in the combined period, 100% of the RSUs granted are earned. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Once earned, the RSUs vest in <FONT STYLE="white-space:nowrap">one-third</FONT> annual increments from the date of the grant, based on continued service
with us, such that all earned awards will be vested three years after grant, which facilitates retention. On a qualifying retirement, RSUs vest on a <FONT STYLE="white-space:nowrap">pro-rata</FONT> basis based on the service period. We do not pay
dividends or dividend equivalents on any of our equity awards. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In August 2018, the committee determined that the performance condition on the
November 2017 RSU grants to executive officers had been met, and 100% of the RSUs granted were earned, as shown in the table below.&nbsp;The earned RSUs remain subject to <FONT STYLE="white-space:nowrap">one-third</FONT> annual vesting increments
from the date of grant, based on continued service. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="43%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="20%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"><B>Performance&nbsp;component</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Threshold&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;Approximate&nbsp;actual&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>performance&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;Percentage&nbsp;payout&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>of&nbsp;RSU&nbsp;award</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>for&nbsp;the&nbsp;metric</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.30pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Fiscal year 2018&nbsp;third quarter adjusted earnings</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.30pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.30pt solid #478ef7">$75,000,177</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.30pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.30pt solid #478ef7">$168,884,097</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.30pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.30pt solid #478ef7; padding-right:2pt">100%</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.30pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Fiscal year 2018&nbsp;fourth quarter adjusted earnings</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.30pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.30pt solid #478ef7">$83,547,963</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.30pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.30pt solid #478ef7">$176,320,168</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.30pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.30pt solid #478ef7; padding-right:2pt">100%</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.30pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">2018&nbsp;third&nbsp;and&nbsp;fourth quarter adjusted earnings</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.30pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.30pt solid #478ef7">$158,548,140</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.30pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.30pt solid #478ef7">$345,204,265</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.30pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.30pt solid #478ef7; padding-right:2pt">100%</TD></TR>
</TABLE>
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<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_41"></A>Equity&nbsp;compensation&nbsp;award&nbsp;policies&nbsp;
</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The committee&#146;s policy is to generally make its annual incentive award grants to named executive officers and <FONT
STYLE="white-space:nowrap">non-executive</FONT> management effective on or about the annual stockholders meeting date. However, it reserves the right to make exceptions and change the policy. In setting this policy the committee considered many
factors, including the alignment of this date with the date equity grants are made to directors and our officers&#146; December&nbsp;1 salary adjustment date. This enables management and the committee to combine the salary review process with the
equity grant process for consistency and administrative convenience and to make awards only after performance in the previous year is known and current year budgets and goals are set. Also, the exercise price for options included in the equity
grants equals the closing price of our common stock on the actual grant date, and the price on that date is an important input into the valuation of RSUs and PSUs. Given our traditional earnings release date in late October&nbsp;or early November,
the stockholders meeting is likely to occur in an open window period, so that the stock price on the grant date is more likely to reflect more recent performance data. Finally, the stockholders meeting date is set and announced several months in
advance, providing transparency to the process. Based on these reasons, the committee has set the annual stockholders meeting date as the target for our annual equity grants, although the actual grant date (that is, the date when the committee takes
formal action to make the grants) may vary by a few days from the annual meeting date due to administrative or other factors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The committee&#146;s
policy on granting incentive awards for promotions, new hire and other special situations is that the grants must be properly approved before, or on the grant date, and the grant date is to occur on the first business day of the month after the
promotion, new hire or other special situation; unless the event occurs on the first business day of the month, in which case the grant may be made as of that day. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">During fiscal year 2018, the committee continued its practice of delegating to a subcommittee comprised of our chief executive officer, our chief human
resources officer, and our chief administrative officer and global general counsel, authority to approve the annual, promotional, and new hire equity award grants to employees who were not officers, so long as the aggregate total of those equity
grants did not exceed committee-established limits, and were consistent with committee-determined standard terms for grants and other guidelines. During fiscal year 2018, under this authority, this subcommittee granted a total of 267,929 RSUs. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The committee believes that this subcommittee is best suited to determine the specific annual awards to be allocated to the individual employees below
the officer level, given their familiarity with their performances and responsibilities. In addition, the delegation enhances our ability to attract, reward and retain talented employees by allowing management to extend binding employment offers and
to act in other special situations quickly and flexibly. All equity grants to our executive officers are <FONT STYLE="white-space:nowrap">pre-approved</FONT> by the committee. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_42"></A>Equity&nbsp;ownership&nbsp;guidelines&nbsp;</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We have equity share ownership guidelines for our executive officers to improve long-term alignment of stockholder and
management interests. These guidelines were increased for our chief executive officer during fiscal year 2018, requiring him to achieve stock ownership levels in ResMed common stock, including unvested RSUs, of at least five times his annual base
salary within five years. All other named executive officers are required to own at least one and <FONT STYLE="white-space:nowrap">one-half</FONT> times their respective annual salaries within five years. If these guidelines are not met, then on
vesting of RSUs or option exercise, the officer must retain shares equal to 50% of the <FONT STYLE="white-space:nowrap">after-tax</FONT> value of shares acquired on the vesting or exercise until the officer&#146;s guidelines are met. As of the
record date, each of our named executive officers met their ownership guideline. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_43"></A>Change&nbsp;of&nbsp;control,&nbsp;termination,&nbsp;and&nbsp;
retirement&nbsp;arrangements&nbsp;</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Our named executive officers have limited contractual rights to receive severance payments if employment is terminated,
as described below. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Double-trigger vesting acceleration of stock options and RSUs in connection with a change of control. </I></B>In August
2017, the compensation committee adopted a new policy, providing that RSUs and stock options granted in and after fiscal year 2018 to executive officers will only accelerate on a double-trigger basis, that is, if their employment is terminated under
specified circumstances within six months before or one year after a change of control. Earlier grants made to our executive officers in and before fiscal year 2017 provide for accelerated vesting of RSUs and stock options on a change of control on
a single-trigger basis. These legacy agreements have not been modified, and will continue to apply until the grants fully vest or terminate. Our grant agreements also provide for accelerated vesting of RSUs or stock options on an officer&#146;s
death, or permanent disability. Our change in control agreements with our executive officers were revised effective January&nbsp;1, 2018 to eliminate single-trigger acceleration rights and to provide double-trigger acceleration for our stock options
and RSUs. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Our form option agreement for named executive officers provides that if they terminate service with us
for any reason, they forfeit options that were unvested at the time of termination. However, a terminated officer has until one year after the termination to exercise vested options. These post-termination exercise provisions are intended to
facilitate financial planning after employment terminates and to ensure that the executive would be able to exercise options and sell the underlying shares when not in possession of material <FONT STYLE="white-space:nowrap">non-public</FONT>
information. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Performance-based stock units.</I></B> Our form PSU agreement for executive officers provides that if we terminate the officer
for &#147;cause&#148; or the officer terminates employment without &#147;good reason&#148; (as those terms are defined in our change of control agreements and summarized below in <I>&#147;Change of control agreements&#148;</I>), the PSUs are
cancelled. If we terminate the officer other than for cause, or the officer terminates for good reason or&#151;as to grants made in or after November 2017&#151;for retirement, then the PSUs become earned and vested, on a prorated basis based on the
truncated service period, and based on the TSR performance measured over that truncated performance period. Similarly, if a change of control occurs, the performance-based stock units are earned and vested as of the date of the change of control,
with the number of units earned based on performance through the date of the change of control. In the event of death or permanent disability, 100% of the target units vest and are immediately distributed. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Change of control agreements.</I></B> We have change of control agreements with each of our named executive officers and certain other members of
our senior management team. Our agreements do not contain excise tax <FONT STYLE="white-space:nowrap">gross-up</FONT> benefits, reflecting the committee&#146;s view of best practice, and in response to views expressed by our stockholders. The
agreements include instead a &#147;best pay&#148; limitation, which reduces the severance payments and benefits payable to the extent necessary so that no portion of any payments or benefits payable upon a change of control of our company would be
subject to the excise tax under Section&nbsp;280G of the US Internal Revenue Code if the reduction would result in the net amount payable to the employee being greater than the net amount received without the reduction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">During fiscal year 2018, the committee reviewed our change of control agreements, and revised them, effective as of January&nbsp;1, 2018, to eliminate
single trigger and to instead provide for double-trigger accelerated vesting for stock options and restricted stock units on a change of control. These agreements also provide for double-trigger severance payments with a multiplier (based on
position, which for our chief executive officer is 2 times, and for other named executive officers is 1.5 times) of salary, short-term incentive and other benefits, to be made to our named executive officers if their employment is terminated under
specified circumstances within six months before or one year after a change of control. A description of the material terms of our change of control agreements can be found in &#147;<I>Potential payments on termination or change of
control</I>.&#148; The committee believes that these agreements continue to be needed to attract and retain senior level candidates in light of the relatively specialized nature of our offerings and the continued potential for merger and acquisition
activity in the medical technology market sector. Also, the committee believes that the agreements assure appropriate motivation by senior management to evaluate potential transactions that may involve us. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Treatment of long-term incentives on retirement.</I></B> In fiscal year 2018, the compensation committee adopted a retirement policy for equity
grants made in or after November 2017. Under this policy, if an executive retires on or after age 60, with at least five years of continuous service with ResMed, then on retirement, the unvested portion of all equity grants will vest, on a <FONT
STYLE="white-space:nowrap">pro-rata</FONT> basis reflecting the portion of service periods completed. On a qualifying retirement the exercise period for vested stock options will be extended to the earlier of (1) 36 months, or (2)&nbsp;the original
term. The committee believes these retirement provisions are fair and equitable, avoid different results for the amount earned by retiring and ongoing award holders, and are consistent with market practices. This treatment of equity on a qualifying
retirement applies on the same basis to all similarly-situated employees. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">This new retirement policy does not change the term of <FONT
STYLE="white-space:nowrap">pre-existing</FONT> equity grants. Earlier equity grants treated retirement as a voluntary termination, and generally, unvested grants would be forfeited. These legacy grants have not been modified, and will continue to
apply until they are fully vested or terminate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Insurance benefits.</I></B> We provide our named executive officers with supplemental life
and disability insurance benefits not generally available to all employees, although they are available to certain <FONT STYLE="white-space:nowrap">non-officers.</FONT> The third-party insurance companies that underwrite these policies would be
obligated to make payments to an executive if the executive terminated employment with us as a result of death or disability. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">61 </P>

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</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">During fiscal year 2018, we made available the limited benefits described below to our named executive officers. The
incremental cost to us for these benefits is described in the summary compensation table. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">We provided comprehensive medical examinations to promote personal health and work/life balance. We believe this
benefits us as well as the individuals through improved health, productivity, and longevity, and is consistent with ResMed&#146;s mission as a health and wellness solutions innovator. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">We participate in an aircraft travel program to provide for more efficient use of time and to provide a more
confidential and secure travel environment in which to conduct company business. This program is used primarily for business purposes, but is available to our chief executive officer and our president and chief operating officer for personal use.
Personal use by other named executive officers is on an exception basis, and requires our chief executive officer&#146;s approval. The aggregate incremental cost to us for any personal use is reviewed at least annually by the compensation committee,
and the committee has a guideline limiting the value of an individual&#146;s annual personal use to $100,000. During fiscal year 2018, no individual exceeded this limit. Aircraft use by an employee, spouse or guest that does not constitute business
use based on IRS guidance is treated as imputed income to the employee, based on the IRS standard industry fare level. We do not reimburse for taxes on the imputed income. Because of the increased productivity and security, we believe that these
policies are appropriate to provide a comprehensive and competitive compensation package, particularly for our chief executive officer and our president and chief operating officer. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">We provided benefits in connection with sales incentive award travel programs, including travel, hotel, meals,
entertainment and other expenses of the executive officer and the officer&#146;s spouse or guest. Our policy reflects the committee&#146;s belief that our named executive officers&#146; attendance at these programs is a part of their general
business duties and that this is not a perquisite. The programs are primarily targeted for sales personnel and other key management who regularly interact with our customers and to recognize their contributions to us. The committee believes that
participation by executive officers in these programs enhances the overall sales incentive programs and requires their attendance, to the extent determined by the appropriate operating officer. We provide these benefits on the same general basis as
we provide to <FONT STYLE="white-space:nowrap">non-executives</FONT> who qualify to participate in the programs, including a tax <FONT STYLE="white-space:nowrap">gross-up.</FONT> The tax <FONT STYLE="white-space:nowrap">gross-up</FONT> is provided
to all participants, not only to executive officers, and is provided so that they are not discouraged from participating by tax expenses that would otherwise be a personal expense attributable to the program. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">We have provided certain of our named executive officers with relocation benefits in connection with their relocation
for company purposes, consistent with our mobility policy. These benefits were specifically approved by the compensation committee and included reimbursement of certain expenses, and payments to offset retirement plan contributions foregone as a
result of the relocation. These benefits did not include any extraordinary items such as home purchases, reimbursement for losses on the sale of real estate, or tax <FONT STYLE="white-space:nowrap">gross-ups.</FONT> Continuing relocation benefits
are periodically reviewed and approved by the compensation committee. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">We also provided paid <FONT STYLE="white-space:nowrap">time-off,</FONT> medical plans, dental plans, vision plans, <FONT
STYLE="white-space:nowrap">tax-qualified</FONT> defined contribution retirement plans (including matching contributions and government-mandated contributions), and disability and life insurance plans. Named executive officers are eligible to
participate in these benefit programs on the same basis as other similarly-situated employees in their respective locations. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_45"></A>Deferred&nbsp;compensation&nbsp;plan&nbsp;</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We maintain the ResMed Inc. Deferred Compensation Plan, under which eligible US employees (including executive officers)
selected to participate in the deferred compensation plan may elect to defer a portion of their base salary, short-term incentive, commissions, and other specified compensation. The amounts deferred under the plan represent an unsecured general
obligation to make payments to the participant in the future. Amounts deferred under the plan are credited to accounts maintained under the plan for each participant and are credited with earnings, gains, or losses based on investment options chosen
by the participant. These investment options are used for measurement purposes only and amounts deferred under the plan will not represent any actual investment made on the participant&#146;s behalf. The amount that we are required to pay under the
plan is equal to the elective deferrals made by the participant, as adjusted for these hypothetical gains or losses. The plan allows us to make discretionary contributions to participant accounts in amounts and at times that we determine from time
to time in our discretion, including restoration matching contributions intended to restore the matching contributions lost under our 401(k) plan as a result of deferrals under the deferred compensation plan. The committee believes that the deferred
compensation plan represents an additional retention tool for executive management, as well as an attractive vehicle in recruiting talent to our executive team. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">62 </P>

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<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_46"></A>Tax&nbsp;considerations&nbsp;</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Section&nbsp;162(m) of the US Internal Revenue Code limits the US federal income tax deductions of publicly-traded
companies to the extent total compensation to its &#147;covered employees&#148; exceeds $1&nbsp;million in any one year. Before the Tax Cuts and Jobs Act of 2017, covered employees included the chief executive officer and the next three most highly
compensated executive officers serving at the end of the fiscal year (other than the chief financial officer), and performance-based compensation arrangements could qualify for an exemption from the deduction limit if they satisfied various
requirements under section 162(m) of the Code. As part of the Tax Cuts and Jobs Act of 2017, effective for tax years beginning after December&nbsp;31, 2017 (ResMed&#146;s fiscal year 2019), the ability to rely on this &#147;qualified
performance-based compensation&#148; exception was eliminated, and the definition of covered employees was expanded to generally include all named executive officers. Although we maintain compensation plans that were intended to permit the award of
deductible compensation as qualified performance-based compensation under section 162(m) before the Tax Cuts and Jobs Act of 2017, subject to the Act&#146;s transition relief rules, we may no longer take a deduction for any compensation paid to our
covered employees in excess of $1&nbsp;million. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Sections 280G and 4999 of the US Internal Revenue Code impose certain adverse tax consequences on
excess parachute payments, which are compensatory payments or benefits that are contingent on a change of control and exceed in the aggregate three times the executive&#146;s average taxable compensation paid by ResMed over the five years before the
change in control (the &#147;base amount&#148;).&nbsp;If this &#147;three times base amount&#148; threshold is exceeded, then tax penalties apply to the total payments in excess of one times the base amount. Excess parachute payments are subject to
a 20% excise tax that must be withheld from the payment, and our compensation deduction in respect of the excess parachute payments is disallowed. If we were to be subject to a change of control, certain amounts received by our executives (for
example, amounts attributable to accelerated vesting of equity grants and certain severance payments) could be excess parachute payments. Our change of control agreements do not obligate us to provide tax
<FONT STYLE="white-space:nowrap">gross-ups</FONT> to an affected individual for any excise taxes due under the agreement. The agreements include instead a &#147;best pay&#148; limitation, which reduces the severance payments and benefits payable to
the extent necessary so that no portion of any payments or benefits payable on a change of control would be subject to excise tax if the reduction would result in the net amount payable to the employee being greater than the net amount received
without the reduction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Section&nbsp;409A of the US Internal Revenue Code requires programs that allow executives to defer a portion of their
current income to meet certain requirements regarding risk of forfeiture and election and distribution timing (among other considerations). Section&nbsp;409A of the US Internal Revenue Code requires that &#147;nonqualified deferred
compensation&#148; be deferred and paid under plans or arrangements that satisfy the requirements of the statute with respect to the timing of deferral elections, timing of payments and certain other matters. Failure to satisfy these requirements
can expose employees and other service providers to accelerated income tax liabilities and penalty taxes and interest on their vested compensation under the plans. Accordingly, as a general matter, we intend to design and administer our compensation
and benefit plans and arrangements for all of our employees and other service providers, including our named executive officers, so that they are either exempt from, or satisfy the requirements of, Section&nbsp;409A of the US Internal Revenue Code.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">63 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:16pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_47"></A>E<SMALL>XECUTIVE</SMALL>
<SMALL>COMPENSATION</SMALL> <SMALL>TABLES</SMALL> </B></FONT></P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_48"></A>Summary&nbsp;compensation&nbsp;table&nbsp;</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The following table sets forth summary information concerning the compensation awarded, paid to, or earned by each of
our named executive officers for all services rendered in all capacities to us for the fiscal years ended June&nbsp;30, 2018, 2017, and 2016. We compensate our executive officers in their residences&#146; local currency. The compensation amounts for
named executive officers based outside of the US are presented in US dollars based on an average annual conversion rate for the relevant fiscal years. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="25%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Name&nbsp;and&nbsp;principal</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>position</B></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"><B>&nbsp;&nbsp;Year&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"><B>&nbsp;&nbsp;Salary<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP>&nbsp;&nbsp;&nbsp;
</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Option</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;awards<SUP STYLE="font-size:85%; vertical-align:top">(c)</SUP>&nbsp;&nbsp;</B></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Stock</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;awards<SUP STYLE="font-size:85%; vertical-align:top">(d)</SUP>&nbsp;&nbsp;</B></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><FONT STYLE="white-space:nowrap">Non-equity</FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>incentive&nbsp;plan</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>compensation<SUP
STYLE="font-size:85%; vertical-align:top">(e)</SUP></B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>All&nbsp;other</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>compensation<SUP
STYLE="font-size:85%; vertical-align:top">(f)</SUP></B></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</B></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" ROWSPAN="3" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Michael Farrell</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:ARIAL"><I>Chief executive officer</I></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center">2018</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7">$934,154</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$1,700,000&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$5,100,000&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$1,247,188&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$100,862&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$9,082,204</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7">$890,160</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$1,500,000&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$4,500,000&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$1,038,941&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$204,295&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$8,133,396</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">2016</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">$845,000</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">$5,500,000&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">$1,079,716&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">$73,646&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">$7,498,362</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" ROWSPAN="3" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Rob Douglas</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><I>President and chief</I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><I>operating officer</I></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7">2018</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7">$813,385</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$1,125,000&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$3,375,000&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$835,346&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$98,824&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$6,247,555</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7">$746,345</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$4,000,000&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$670,069&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$357,286&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$5,773,700</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">2016</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">$694,606</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">$1,831,200&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">$1,831,200&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">$682,728&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">$164,947&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">$5,204,681</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" ROWSPAN="3" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Jim Hollingshead</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><I>President &#150; sleep</I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><I>business</I></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7">2018</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7">$620,000</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$2,000,000&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$478,707&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$73,805&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$3,172,512</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7">$483,631</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$2,600,000&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$315,206&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$70,274&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$3,469,111</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">2016</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">$454,167</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">$382,525&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">$1,147,575&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">$360,212&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">$69,753&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">$2,414,232</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:ARIAL">David Pendarvis</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7">2018</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7">$533,710</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$425,000&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$1,275,000&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$390,861&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$96,194&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$2,720,765</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; padding-left:8pt"><FONT STYLE="font-size:9pt"><I>Chief administrative</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7">$520,864</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$408,047&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$1,591,953&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$350,724&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$63,299&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$2,934,887</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><I>officer, global
general</I></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><I>counsel and secretary</I></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$507,598</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$367,813&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$1,103,437&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$374,189&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$58,640&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">$2,411,677</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" ROWSPAN="3" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Brett Sandercock</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><I>Chief financial officer</I></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7">2018</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7">&nbsp;&nbsp;$454,853<SUP STYLE="font-size:85%; vertical-align:top">(b)</SUP></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$2,000,000&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$355,317&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$51,220&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$2,861,390</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7">2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7">$442,081</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$437,500&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$1,312,500&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$309,411&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">$46,502&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$2,547,994</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">2016</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">$410,640</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">$1,712,000&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">$302,713&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">$43,490&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">$2,468,843</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(a)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">Includes salary deferred under defined contribution retirement plans such as our US 401(k) plan, US deferred compensation plan, and
Australia superannuation plan.&nbsp;Had these amounts not been deferred, they would have been payable to the officer in cash during the year.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(b)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">We pay Mr.&nbsp;Sandercock&#146;s base salary in Australian dollars. It is reported here in US dollars based on the fiscal year
average annual exchange rates. The average annual exchange rate for fiscal year 2018 was approximately AUD:USD of 1 to 0.75. Earlier years are reported using the rates disclosed in prior years&#146; proxy statements.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(c)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">Option awards represent stock options issued under our 2009 Plan, valued at the grant date computed under FASB ASC Topic 718, as
described in more detail in the footnotes to the &#147;Grants of plan-based awards&#148; table.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(d)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">Stock awards include RSUs and PSUs issued under our 2009 Plan, and are shown at the grant date fair value, as computed under FASB
ASC Topic 718. See the footnotes to the &#147;Grants of plan-based awards&#148; table for further information on the valuation of stock awards. Since the PSUs are earned based solely on our TSR, they do not have performance conditions as defined
under ASC 718, and have no maximum grant date fair values that differ from the grant date fair values presented in the table above. The RSU maximum grant date value is equal to the target value.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(e)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">Represents actual payouts under our performance-based cash short-term incentive programs.</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">64 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

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<TD WIDTH="96%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(f)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">The amounts shown consist of our incremental cost for certain specified perquisites for our named executive officers, as follows:</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="19%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD>
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<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="15%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="15%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Named</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>executive</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>officer</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Medical</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>exams</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Personal&nbsp;use</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>of&nbsp;company</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>aircraft<SUP STYLE="font-size:85%; vertical-align:top">(i)</SUP></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Sales</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>incentive</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>award<SUP STYLE="font-size:85%; vertical-align:top">(ii)</SUP></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Sales</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>incentive</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>award&nbsp;tax</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B><FONT STYLE="white-space:nowrap">gross-up</FONT><SUP STYLE="font-size:85%; vertical-align:top">(ii)</SUP></B></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Relocation</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>compensation<SUP
STYLE="font-size:85%; vertical-align:top">(iii)</SUP></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Other</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>compensation<SUP
STYLE="font-size:85%; vertical-align:top">(iv)</SUP></B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Michael&nbsp;Farrell</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$31,889&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$25,153&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$8,474&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">$35,346&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Rob Douglas</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$5,569&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$22,485&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$8,474&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$35,796&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">$26,500&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Jim&nbsp;Hollingshead</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$5,569&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$21,794&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$8,474&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">$37,968&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">David&nbsp;Pendarvis</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$2,700&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$5,569&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$38,583&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$11,194&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$8,640&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">$29,508&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Brett&nbsp;Sandercock</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$800&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">$50,420&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="89%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" ALIGN="right">(i)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">The calculation of the aggregate incremental cost for personal use of company aircraft includes the variable costs incurred as a result of personal flight activity, which includes fuel, trip related maintenance, universal weather
monitoring, <FONT STYLE="white-space:nowrap">on-board</FONT> catering, landing and ramp fees, excise taxes, and all other miscellaneous costs. No incremental cost for personal use of the aircraft is attributed to a named executive officer when the
aircraft was previously scheduled to the destination for a business purpose. Since our aircraft are primarily used for business purposes, the aggregate incremental cost excludes fixed costs, such as the monthly management fee and amortization,
because such costs would have been incurred regardless of the personal use.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" ALIGN="right">(ii)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">We provided certain of our named executive officers with benefits in connection with a sales incentive award travel program which
is available to sales, marketing, and other <FONT STYLE="white-space:nowrap">non-executive</FONT> employees.&nbsp;Amounts represent the cost of participation by executive officers in that program. The cost includes the incremental cost to us of
travel, hotel, meals, entertainment and other expenses of the executive officer and the officer&#146;s spouse or guest. The cost shown as <FONT STYLE="white-space:nowrap">gross-up</FONT> represents the amounts we reimburse the officer for the tax
associated with income imputed to the officer in connection with the program. We provide tax gross ups to all employees who participate in this program. Attendance is part of our officers&#146; management duty and enhances the effectiveness of the
sales incentive program.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" ALIGN="right">(iii)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">These relocation compensation amounts represent tax advisory consulting fees we paid in connection with mobility
assignments.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" ALIGN="right">(iv)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">These amounts include matching contributions we made under our US 401(k) plan and deferred compensation plan, government-mandated
contributions we made under the ResMed Limited superannuation plan (a defined contribution retirement program for our Australia-based employees), and executive long-term disability and insurance premiums paid by us on behalf of our named executive
officers. Those amounts for fiscal year 2018 were:</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="95%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt">


<TR>
<TD WIDTH="33%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="22%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="24%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="17%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Named</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>executive&nbsp;officer</B></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Company&nbsp;contributions&nbsp;to&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;deferred&nbsp;compensation&nbsp;plan<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP>&nbsp;&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Company&nbsp;contributions&nbsp;to&nbsp;US&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;401(k)&nbsp;and&nbsp;AU&nbsp;superannuation<SUP STYLE="font-size:85%; vertical-align:top">(b)</SUP>&nbsp;&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"><B>&nbsp;&nbsp;Insurance&nbsp;premiums<SUP
STYLE="font-size:85%; vertical-align:top">(c)</SUP>&nbsp;&nbsp;&nbsp;</B></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Michael Farrell</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$0&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;$9,931</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">$25,415</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Rob Douglas</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$0&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$0</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">$26,500</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Jim Hollingshead</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$0&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$11,727</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">$26,241</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">David Pendarvis</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$2,010&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;$8,856</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">$18,642</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL">Brett Sandercock</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$0&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$43,211</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;&nbsp;$7,209</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(a)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Represents contributions intended to restore the matching contributions lost under our 401(k) plan as a result of deferrals under the deferred compensation plan. For a description of the company contributions made to the Amended
and Restated ResMed Inc. Deferred Compensation Plan, see &#147;Deferred Compensation Plan.&#148;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(b)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">We contribute to the US 401(k) plan for each of our participating named executive officers on the same terms that apply to all
other eligible employees. For fiscal year 2018, we made a discretionary matching contribution to the plan in an amount up to 4% of eligible participants&#146; base salary, normal short-term incentive and commissions subject to US Internal Revenue
Code limits on the maximum amount of eligible compensation. In fiscal year 2018, we made minor corrective 401(k) matching contributions. We also contributed to the ResMed Limited superannuation plan in Australia at the government-mandated rate of
9.5%, based on total base salary, on the same terms that apply to all other eligible employees.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(c)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">We pay the cost of an executive long-term disability policy that provides additional benefits for <FONT STYLE="white-space:nowrap">US-based</FONT> executives (including <FONT STYLE="white-space:nowrap">US-based</FONT> named
executive officers) not generally available to other employees. Amounts shown represent premiums paid for both generally-available and additional insurance.</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">65 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="21%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_49"></A><FONT STYLE="white-space:nowrap">Grants&nbsp;of&nbsp;plan-based&nbsp;
awards&nbsp;</FONT></B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The following table summarizes all grants of plan-based awards made to our named executive officers for the fiscal year
ended June&nbsp;30, 2018. In the following table, PSU refers to our long-term performance-based stock units, RSU refers to restricted stock units, and STI refers to performance-based short-term cash incentives. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" ALIGN="center">


<TR>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="7%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="5" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Estimated&nbsp;future&nbsp;payouts</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B><FONT
STYLE="white-space:nowrap">under&nbsp;non-equity&nbsp;incentive&nbsp;plan</FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>awards<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="11" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Estimated&nbsp;future&nbsp;payouts</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>under&nbsp;equity&nbsp;incentive</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>plan&nbsp;awards<SUP STYLE="font-size:85%; vertical-align:top">&nbsp;(b)(c)(d)</SUP></B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Named</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>executive</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>officer</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Grant&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>date&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Grant</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>type</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><B>Threshold</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><B>Target</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><B>Max</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><B>Threshold</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><B>Target</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><B>Max</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>All&nbsp;other</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>option</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>awards:</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>number&nbsp;of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>securities</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>underlying</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>options<SUP STYLE="font-size:85%; vertical-align:top">(e)</SUP></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Exercise</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>price&nbsp;of</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>option</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>awards</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;($/share)&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Grant</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>date&nbsp;fair</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>value&nbsp;of</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>stock&nbsp;and</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>option</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>awards<SUP
STYLE="font-size:85%; vertical-align:top">(f)(g)</SUP></B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" ROWSPAN="4" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Michael</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">Farrell</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">11/16/2017</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center">PSU</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">22,310</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">44,619</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">100,393</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$3,400,000&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">11/16/2017</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">RSU</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">10,336</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">20,671</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">20,671</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$1,700,000&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">11/16/2017</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">Options</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">102,781</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">$84.98</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$1,700,000&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">8/16/2017</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">STI</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$607,200</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$1,214,400</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$2,428,800</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" ROWSPAN="4" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Rob</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">Douglas</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">11/16/2017</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">PSU</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">14,764</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">29,528</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">66,438</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$2,250,000&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">11/16/2017</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">RSU</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">6,840</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">13,679</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">13,679</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$1,125,000&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">11/16/2017</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Options</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">68,017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">$84.98</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$1,125,000&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">8/16/2017</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">STI</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$406,693</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$813,385</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$1,626,770</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" ROWSPAN="3" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Jim</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">Hollingshead&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">11/16/2017</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">PSU</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">6,562</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">13,123</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">29,527</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$1,000,000&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">11/16/2017</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">RSU</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">6,080</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">12,160</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">12,160</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$1,000,000&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">8/16/2017</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">STI</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$248,000</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$496,000</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$992,000</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" ROWSPAN="4" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">David</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">Pendarvis</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">11/16/2017</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">PSU</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">5,578</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">11,155</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">25,099</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$850,000&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">11/16/2017</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">RSU</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2,584</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">5,168</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">5,168</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$425,000&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">11/16/2017</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Options</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">25,695</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">$84.98</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$425,000&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">8/16/2017</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">STI</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$200,142</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$400,283</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$800,566</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" ROWSPAN="3" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Brett</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">Sandercock</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">11/16/2017</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">PSU</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">6,562</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">13,123</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">29,527</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$1,000,000&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">11/16/2017</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">RSU</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">6,080</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">12,160</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">12,160</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$1,000,000&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">8/16/2017</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center">STI</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff" ALIGN="center"> $181,941<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff" ALIGN="center"> $363,882<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff" ALIGN="center"> $727,764<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(a)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Represents potential payouts under our annual performance-based cash short-term incentive program for fiscal year 2018. Short-term incentive amounts actually earned for fiscal year 2018 are reflected in the Summary Compensation
Table.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(b)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Our named executive officers may choose to receive half the value of their annual equity award as 100% options, 100% performance-based RSUs, or 50% of each; with the final number of options or RSUs based on their value determined
under FASB ASC Topic 718.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(c)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">Restricted stock unit awards granted in fiscal year 2018 are earned based on performance targets for the third and fourth fiscal
quarters of fiscal year 2018. Threshold amounts shown are 50% of the RSUs granted, assuming that only one of the 2018 third quarter or fourth quarter operating profit target is achieved. The target and maximum amounts shown are 100% of the RSUs
granted assuming that both the third quarter and fourth quarter targets or the aggregate third and fourth quarter targets are achieved. Based on actual fiscal year 2018 performance, 100% of the units were earned. The earned units will vest annually
over three years following the date of grant, subject to the executive&#146;s continued service.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(d)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">Performance stock unit awards granted in fiscal year 2018 are earned based on our absolute TSR performance over a four-year period
starting on the grant date (with an opportunity for an early payout after three years). Threshold amounts shown are 50% of the PSUs granted, target amounts are 100% of the PSUs granted, and maximum amounts are 225% of the PSUs granted. No PSUs are
earned for performance below threshold.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(e)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">Stock options granted in fiscal year 2018 have an exercise price equal to the NYSE closing price of our common stock on the grant
date; <FONT STYLE="white-space:nowrap">one-third</FONT> are exercisable on November 11th of each of the three years following the grant date, subject to the executive&#146;s continued
service.</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">66 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="97%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(f)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">The dollar value of options represents the grant date fair value based on the Black-Scholes model of option valuation, computed in
accordance with FASB ASC Topic 718. The actual value, if any, an executive may realize depends on the excess of the stock price over the exercise price on the date the option is exercised. There is no assurance that an executive will realize a value
at or near the value the Black-Scholes model estimates. The Black-Scholes model uses the following assumptions:</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="95.5%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt">


<TR>
<TD WIDTH="71%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="27%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>November&nbsp;16,&nbsp;2017&nbsp;</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="6" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">&nbsp;</TD>
<TD HEIGHT="6" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Market price of stock</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">$84.98</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="6" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Exercise price of
option</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">$84.98</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">&nbsp;</TD>
<TD HEIGHT="6" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Expected stock volatility</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">23.0%</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="6" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Risk-free interest
rate</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">2.08%</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">&nbsp;</TD>
<TD HEIGHT="6" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Expected life</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" STYLE="BORDER-LEFT:1px solid #478ef7; padding-left:8pt">&nbsp;</TD>
<TD HEIGHT="6" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Dividend yield</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center">1.65%</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(g)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">The dollar value of RSUs represents the grant date fair value, based on the probable outcome of the performance conditions and the closing value of
$84.98 for RSUs granted on November&nbsp;16, 2017. The probable outcome of the performance condition was 100% and the maximum payout is equal to the target payout.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL">The dollar value for PSUs represents the grant date fair value computed under FASB ASC Topic 718, determined as of the grant date using the Monte-Carlo simulation method,
which uses multiple input variables to estimate the probability of meeting the TSR objectives, which is a market condition under FASB ASC Topic 718. For PSUs granted on November&nbsp;16, 2017, assumes $84.98 share price and estimated Monte Carlo
valuation of 89.67% ($76.20 per PSU), rounded to the nearest share.</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="26%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_50"></A>Outstanding&nbsp;equity&nbsp;awards&nbsp;at&nbsp;fiscal&nbsp;year&nbsp;
end&nbsp;</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The following table summarizes outstanding equity awards held by our named executive officers at June&nbsp;30, 2018.
</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" ALIGN="center">


<TR>
<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" COLSPAN="7" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7"><B>Option&nbsp;awards</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" COLSPAN="7" STYLE="BORDER-TOP:2.00pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Stock&nbsp;awards</B></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Named</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>executive</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>officer</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Number&nbsp;of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>securities</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>underlying</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>unexercised</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>options</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;exercisable&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Number&nbsp;of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>securities</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>underlying</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>unexercised</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>options</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;unexercisable<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP>&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Option</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;exercise&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>price</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Option&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;expiration&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>date&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Number&nbsp;of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>shares&nbsp;or</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>units&nbsp;of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>stock&nbsp;that</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>have&nbsp;not</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>vested<SUP STYLE="font-size:85%; vertical-align:top">(b)</SUP></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;Market&nbsp;value&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>of&nbsp;shares&nbsp;or</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>units&nbsp;of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>stock&nbsp;that</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>have&nbsp;not</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>vested<SUP STYLE="font-size:85%; vertical-align:top">(c)</SUP></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Equity</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>incentive&nbsp;plan</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;awards:&nbsp;number&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>of&nbsp;unearned</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>shares&nbsp;or&nbsp;units</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>of&nbsp;stock&nbsp;that</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>have&nbsp;not&nbsp;vested</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Equity</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;incentive&nbsp;plan&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>awards:</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>market&nbsp;value</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>of&nbsp;unearned</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>shares&nbsp;or</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>units&nbsp;of&nbsp;stock</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>that&nbsp;have&nbsp;not</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>vested<SUP
STYLE="font-size:85%; vertical-align:top">(c)</SUP></B></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" ROWSPAN="4" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL">Michael</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL">Farrell</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">102,781&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">$84.98</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">11/16/2024</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">34,453</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">$3,568,642&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">20,671<SUP STYLE="font-size:85%; vertical-align:top">(d)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$2,141,102&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">46,555&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">93,110&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">$57.76</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">11/16/2023</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">44,619<SUP STYLE="font-size:85%; vertical-align:top">(e)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$4,621,636&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">93,110&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">$43.63</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">03/01/2020</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">14,746</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">$1,527,391&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">117,970<SUP STYLE="font-size:85%; vertical-align:top">(f)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$12,219,333&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">12,945</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$1,340,843&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">103,558<SUP STYLE="font-size:85%; vertical-align:top">(g)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$10,726,538&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" ROWSPAN="4" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL">Rob</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL">Douglas</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">68,017&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">$84.98</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">11/16/2024</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">24,176</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$2,504,150&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13,679<SUP STYLE="font-size:85%; vertical-align:top">(d)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$1,416,871&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100,065&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50,033&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">$58.24</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">11/19/2022</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29,528<SUP STYLE="font-size:85%; vertical-align:top">(e)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$3,058,510&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46,555&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">$43.63</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">03/01/2020</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">9,831</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$1,018,295&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">78,648<SUP STYLE="font-size:85%; vertical-align:top">(f)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$8,146,360&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">8,620</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$892,860&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">68,958<SUP STYLE="font-size:85%; vertical-align:top">(i)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">$7,142,670&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" ROWSPAN="5" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL">Jim</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL">Hollingshead&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">20,903&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">10,452&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">$58.24</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">11/19/2022</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">16,749</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">$1,734,861&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">12,160<SUP STYLE="font-size:85%; vertical-align:top">(d)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$1,259,533&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">9,168&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">$43.63</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">03/01/2020</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">13,123<SUP STYLE="font-size:85%; vertical-align:top">(e)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$1,359,280&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">3,932</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">31,458<SUP STYLE="font-size:85%; vertical-align:top">(f)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$3,258,420&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">3,602</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">28,809<SUP STYLE="font-size:85%; vertical-align:top">(g)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$2,984,036&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">1,921</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">15,370<SUP STYLE="font-size:85%; vertical-align:top">(h)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$1,592,025&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" ROWSPAN="7" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL">David</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL">Pendarvis</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25,695&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">$84.98</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">11/16/2024</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">7,980</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$826,568&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,168<SUP STYLE="font-size:85%; vertical-align:top">(d)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$535,301&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,327&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,655&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">$71.89</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">06/01/2024</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,155<SUP STYLE="font-size:85%; vertical-align:top">(e)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$1,155,435&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,414&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24,830&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">$57.76</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">11/16/2023</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">3,932</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$407,277&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31,458<SUP STYLE="font-size:85%; vertical-align:top">(f)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$3,258,420&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20,099&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,050&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">$58.24</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">11/19/2022</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">3,463</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$358,698&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27,702<SUP STYLE="font-size:85%; vertical-align:top">(g)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$2,869,373&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30,569&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">$52.02</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">11/19/2021</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">780</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">$80,792&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,242<SUP STYLE="font-size:85%; vertical-align:top">(i)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">$646,546&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22,283&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">$51.25</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">11/13/2020</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">14,050&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$38.98</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">11/15/2019</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" ROWSPAN="4" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL">Brett</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL">Sandercock</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">13,578&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">27,158&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">$57.76</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">11/16/2023</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">10,369</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">$1,074,021&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">12,160<SUP STYLE="font-size:85%; vertical-align:top">(d)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$1,259,533&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">13,123<SUP STYLE="font-size:85%; vertical-align:top">(e)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$1,359,280&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" BGCOLOR="#cceeff">4,301</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">$445,498&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#cceeff">34,408<SUP STYLE="font-size:85%; vertical-align:top">(f)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$3,563,981&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">4,030</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$417,427&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">32,233<SUP STYLE="font-size:85%; vertical-align:top">(g)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$3,338,694&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">67 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top">(a)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">The table below shows the vesting schedule for the listed unexercisable options awards, by their expiration dates.</TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="98%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt">


<TR>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="66%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Expiration&nbsp;date</B></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"><B>Grant&nbsp;date</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"><B>Remaining&nbsp;vesting&nbsp;schedule</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL">November&nbsp;16,&nbsp;2024</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">November&nbsp;16,&nbsp;2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">Three equal installments on November&nbsp;11 of 2018, 2019 and 2020</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL">June&nbsp;1, 2024</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">June&nbsp;1, 2017</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">Two equal installments on June&nbsp;1 of 2019 and 2020</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL">November&nbsp;16, 2023</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">November&nbsp;16,&nbsp;2016</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">Two equal installments on November&nbsp;11 of 2018 and 2019</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL">November&nbsp;19,&nbsp;2022</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">November&nbsp;19,&nbsp;2015</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">One installment on November&nbsp;11 of 2018</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(b)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">The number shows outstanding unvested, but earned, RSUs and PSUs. Earned RSUs vest in three annual equal increments on November&nbsp;11 of each year following the grant date. Banked PSUs based on certified total shareholder
return achievement are considered earned and vest on the third anniversary of the November grant date. The table below shows the vesting schedules for the remaining RSUs and PSUs:</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="96%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt">


<TR>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="16%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Named&nbsp;executive</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>officer</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>RSUs&nbsp;vesting</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;during&nbsp;fiscal&nbsp;year&nbsp;2019&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>RSUs&nbsp;vesting</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;during&nbsp;fiscal&nbsp;year&nbsp;2020&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>PSU&nbsp;vesting&nbsp;of&nbsp;banked<BR>TSR&nbsp;performance&nbsp;units</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;during&nbsp;fiscal&nbsp;year&nbsp;2019&nbsp;</B></P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>PSU&nbsp;vesting&nbsp;of&nbsp;banked<BR>TSR&nbsp;performance&nbsp;units</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;during&nbsp;fiscal&nbsp;year&nbsp;2020&nbsp;</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Michael Farrell</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">25,387</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">9,066</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">12,945</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">14,746</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Rob Douglas</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">12,088</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">12,088</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">8,620</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">9,831</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Jim Hollingshead<SUP STYLE="font-size:85%; vertical-align:top"> (i)</SUP></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">9,508</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">7,241</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">3,602</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">5,853</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">David Pendarvis<SUP STYLE="font-size:85%; vertical-align:top"> (ii)</SUP></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">5,082</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">2,898</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">3,463</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">4,712</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Brett Sandercock</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">7,724</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">2,645</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">4,030</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">4,301</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="96%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">(i) Includes special grant issued February&nbsp;16, 2017, with RSUs that vest in two equal installments on February&nbsp;16 of 2019 and 2020, and certified banked PSUs to vest in 2019 and 2020.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom">(ii) Includes special grant issued June&nbsp;1, 2017, with RSUs that vest in two equal installments on June&nbsp;1 of 2019 and 2020, and certified banked PSUs to vest in 2019 and
2020.</TD></TR></TABLE></DIV> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="96%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(c)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">The market value is calculated by multiplying the number of RSUs and PSUs by the closing price of our common stock ($103.58) on the NYSE at June&nbsp;30, 2018.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(d)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">Represents RSUs that were granted to our executive officers in November 2017 under our incentive plan and are earned based on
earnings performance targets for the third and fourth fiscal quarters of fiscal year 2018. On June&nbsp;30, 2018, these shares were unearned because the committee had not yet determined whether any target had been achieved. The number of RSUs and
market values shown in these columns represent 100% of the RSUs granted, based on the assumption that the targets would be achieved. The committee determined in August 2018 that the targets were achieved. In future years these units will be shown as
earned, but unvested, until they vest or are forfeited.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(e)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">Represents fiscal year 2018 performance-based stock units granted in November 2017, that are eligible for vesting following the end
of a four-year performance period (beginning on the grant date), subject to acceleration, depending on our absolute TSR performance for the four-year period. In accordance with SEC rules, PSUs granted November 2017 are listed at 100% of the target
stock units granted, representing the number of stock units that would be earned with target performance. However, our absolute TSR performance over the interim performance period from November 2017 through June&nbsp;30, 2018, would be between
threshold and target, and 70% of target units would be earned.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(f)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">Represents fiscal year 2017 unearned PSUs granted in November 2016 that are eligible for vesting November&nbsp;17, 2020, subject to
possible acceleration, depending on our absolute TSR performance for the period. In accordance with SEC guidance, PSUs granted November 2016 are listed at 225% of the target stock units granted, representing the number of stock units that would be
earned with maximum performance, as our absolute TSR performance over the interim performance period from November 2016 through June&nbsp;30, 2018, was in excess of maximum performance.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(g)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">Represents PSUs granted November 2015 that are eligible for vesting November&nbsp;18, 2019, subject to acceleration, depending on
our absolute TSR performance over the period. In accordance with SEC guidance, amounts are listed at 225% of the target stock units granted, representing the number of stock units that would be earned with maximum performance, as our absolute TSR
performance over the interim performance period from November 2015 through June&nbsp;30, 2018, was in excess of maximum performance.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(h)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">Represents PSUs granted February 2017 that are eligible for vesting February&nbsp;15, 2021, subject to acceleration, depending on
our absolute TSR performance for the period. In accordance with SEC guidance, amounts are listed at 225% of the target stock units granted, representing the number of stock units that would be earned at maximum performance, as our absolute TSR
performance over the interim performance period from February 2017 or June 2017, as applicable, through June&nbsp;30, 2018, was between target and maximum performance.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(i)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">Represents PSUs granted June 2017 that are eligible for vesting May&nbsp;31, 2021, subject to acceleration, depending on our
absolute TSR performance for the period. In accordance with SEC guidance, amounts are listed at 225% of the target stock units granted, representing the number of stock units that would be earned at maximum performance, as our absolute TSR
performance over the interim performance period from June 2017 through June&nbsp;30, 2018, was between target and maximum performance.</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">68 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


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<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_51"></A>Option&nbsp;exercises&nbsp;and&nbsp;stock&nbsp;
vested</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">The following table summarizes the shares each of our named executive officers acquired during the fiscal year ended June&nbsp;30, 2018,
by exercising options or by vesting in restricted stock units. Information on RSUs earned based on fiscal year 2018 performance, but not vested as of June&nbsp;30, 2018, is in the outstanding equity awards table above (see footnote (d)&nbsp;to the
&#147;Outstanding equity awards at fiscal year end&#148; table, above). </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


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<TD WIDTH="25%"></TD>
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<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="16%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Option&nbsp;Awards</B></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Stock&nbsp;Awards</B></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Named</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>executive&nbsp;officer</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Number&nbsp;of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>shares</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;acquired&nbsp;on&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>exercise</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Market&nbsp;value&nbsp;on&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>exercise<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Number&nbsp;of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares&nbsp;acquired&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>upon&nbsp;vesting</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Value&nbsp;realized</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;upon&nbsp;vesting<SUP STYLE="font-size:85%; vertical-align:top">(b)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Michael Farrell</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">3,300&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #478ef7">$165,693&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">69,908&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">$5,850,324&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Rob Douglas</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">41,204&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">$3,451,027&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Jim Hollingshead</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">12,284&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #478ef7">$462,465&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">22,241&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">$1,885,698&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">David Pendarvis</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">55,357&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">$2,826,193&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">15,035&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">$1,270,703&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Brett Sandercock</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">21,969&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">$1,838,750&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(a)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Represents the aggregate of the market price at exercise, less the exercise price, for each share exercised.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(b)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Represents the value deemed realized based on the closing price of our common stock on the date of vesting multiplied by the number of shares vested.</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">69 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


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<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_52"></A>&nbsp;Nonqualified&nbsp;deferred&nbsp;
compensation</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We maintain the ResMed Inc. Deferred Compensation Plan. Our deferred compensation plan allows participants to defer
receiving some of their eligible compensation to a future date, with an opportunity to earn <FONT STYLE="white-space:nowrap">tax-deferred</FONT> returns on the deferrals. The following table sets forth summary information regarding aggregate
contributions to, and account balances under, our deferred compensation plan by our named executive officers for and as of the fiscal year ended June&nbsp;30, 2018. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Named</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>executive</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>officer</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Executive&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>contributions&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>in&nbsp;fiscal&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>year&nbsp;2018<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Company&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>contributions&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>in&nbsp;fiscal&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>year&nbsp;2018<SUP STYLE="font-size:85%; vertical-align:top">(b)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Aggregate&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>earnings&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>in&nbsp;fiscal&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>year&nbsp;2018<SUP STYLE="font-size:85%; vertical-align:top">(c)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Aggregate&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>withdrawals/&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>distributions&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" COLSPAN="2" NOWRAP STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Aggregate</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>balance&nbsp;at</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>end&nbsp;of&nbsp;fiscal</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>year&nbsp;2018<SUP
STYLE="font-size:85%; vertical-align:top">(d)</SUP></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Michael Farrell</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff" ALIGN="right">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff" ALIGN="right">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff" ALIGN="right">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$0&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Rob Douglas</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$417,673&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$20,405&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$0&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$773,113</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Jim&nbsp;Hollingshead</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff" ALIGN="right">$589,928&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff" ALIGN="right">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff" ALIGN="right">$99,789&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$0&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff" ALIGN="right">$1,999,412</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">David&nbsp;Pendarvis</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$693,216&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$2,010&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$335,833&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">$0&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$5,262,470</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Brett&nbsp;Sandercock</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff" ALIGN="right">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff" ALIGN="right">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff" ALIGN="right">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$0&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="97%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(a)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Represents amounts that the named executive officers elected to defer in fiscal 2018. These amounts represent compensation earned by the named executive officers in fiscal 2018, and are also reported in the appropriate columns in
the &#147;Summary Compensation Table&#148; above.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(b)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Represents amounts credited in fiscal 2018 as company contributions to the accounts of the named executive officer. These amounts are also reported in the &#147;Summary Compensation Table&#148; above under the &#147;All Other
Compensation&#148; column.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(c)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Represents net amounts credited to the named executive officers&#146; accounts as a result of performance of the investment vehicles in which their accounts were deemed invested, as more fully described in the narrative
disclosure below. These amounts do not represent above-market earnings, and thus are not reported in the &#147;Summary Compensation Table.&#148;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(d)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Aggregate balance as of June&nbsp;30, 2018 includes all contributions from earned income through fiscal 2018 and investment income reported by June&nbsp;30, 2018. The amounts that were previously reported as compensation for
participating named executive officers in the Summary Compensation Table in the previous year should have been reported as follows: Mr.&nbsp;Douglas $335,035; Mr.&nbsp;Hollingshead $1,309,695; and Mr.&nbsp;Pendarvis $4,233,421.</TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>General</I></B><B>.</B>&nbsp;We designed our deferred compensation plan to attract and retain key employees by
providing participants an opportunity to defer receipt of a portion of their salary, short-term incentive cash payments, and commissions. The plan is an unfunded plan for tax purposes and for purposes of Title&nbsp;I of the Employee Retirement
Income Security Act of 1974. Deferred amounts under the plan are our general unsecured obligations and are subject to our ongoing financial solvency. Employees who are part of a select group of management or highly compensated employees are eligible
to participate in the deferred compensation plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Contributions</I></B><B>.</B> Participants may elect to defer up to 75% of each of base
salary, short-term incentive cash payments, and commissions for the plan year. The plan permits us to make discretionary contributions from time to time, including restoration matching contributions intended to restore any matching contributions
lost under our 401(k) plan as a result of deferrals under the deferred compensation plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Distributions</I></B>.&nbsp;Participants may elect
to take distributions on: (1)&nbsp;participant&#146;s separation from service with us; (2)&nbsp;a specified date; (3)&nbsp;participant&#146;s permanent disability; (4)&nbsp;participant&#146;s death; (5)&nbsp;change of control of ResMed; or
(6)&nbsp;unforeseeable emergency. Participants will receive a lump sum payment of those benefits, or if elected by the participant, in installments. Notwithstanding other elections, all distributions due to death or permanent disability will be
payable in a single lump sum. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Vesting</I></B><B>.</B>&nbsp;Participants are at all times 100% vested in amounts they defer. Participants are
vested in discretionary contributions according to vesting schedules established by the plan&#146;s administrative committee; however, discretionary contributions will become 100% vested on the earliest to occur of: (1)&nbsp;the participant&#146;s
death; (2)&nbsp;the participant&#146;s permanent disability; or (3)&nbsp;a change of control of ResMed. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">70 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Investment options</I></B><B>.</B>&nbsp;Earnings on amounts contributed to our deferred
compensation plan are based on participant selections among the investment options determined by the plan&#146;s administrative committee. This committee has the sole discretion to discontinue, substitute, or add investment options at any time.
Participants can select from among these investment options for purposes of determining the earnings or losses that we will credit to their plan accounts, but they do not have an ownership interest in the investment options they select. No
&#147;above market&#148; crediting rates are offered under the deferred compensation plan. Invested amounts may be transferred among available plan investment options. The investment options under the deferred compensation plan and their annual
rates of return for fiscal year 2018 are in the table below: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="55%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="43%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"><B>Name&nbsp;of&nbsp;investment&nbsp;option</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"><B>Rate&nbsp;of&nbsp;return&nbsp;through&nbsp;June&nbsp;30,&nbsp;2018</B></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">MFS VIT Total Return Bond</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">-0.56%</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">DFA VIT Inflation-Protection Securities Instl</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">1.72%</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">MFS VIT Value Svc</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">3.76%</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">American Funds IS Growth 2</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">22.51%</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Great West T. Rowe Price Mid Cap Growth</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">14.05%</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Vanguard VIF Small Company Growth Inv</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">21.46%</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">American Funds IS International 2</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">11.30%</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Dreyfus Stock Index Initial</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">14.08%</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">American Century VP Mid Cap Value I</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">6.47%</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Great West MFS International Value Initial</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">3.69%</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Delaware VIP Small Cap Value Series Svc <SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">10.36%</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="95%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="center">(a)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Fund&nbsp;replaced&nbsp;Putnam&nbsp;VT&nbsp;Small&nbsp;Cap&nbsp;Value&nbsp;effective&nbsp;October&nbsp;31,&nbsp;2017.</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_53"></A>Potential&nbsp;payments&nbsp;on&nbsp;termination&nbsp;or&nbsp;change&nbsp;
of&nbsp;control&nbsp;</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Change of control agreements</I></B><B>.</B> We have entered into agreements with each of our named executive
officers and certain other members of senior management (a total of 21 currently employed persons as of September&nbsp;17, 2018), that provide certain change of control payments and benefits. Each of the agreements with our executive officers was
reviewed and updated effective as of January&nbsp;1, 2018, to eliminate single-trigger equity acceleration and replace it with double-trigger equity acceleration in the event of a change of control. In addition, the definition of good reason was
revised and the term of the agreement was recommenced for three years, with automatic three-year renewal terms, as of January&nbsp;1, 2018. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">If at
any time during the period that starts six months before and ends one year after the effective date of a &#147;change of control,&#148; an executive terminates employment under certain conditions described below, then the executive will be entitled
to receive certain compensation and benefits from us. The conditions that entitle an executive to additional compensation are: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">the executive voluntarily terminates his employment for &#147;good reason&#148; (as defined in the agreement and
summarized below); or </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">we terminate the executive&#146;s employment other than for &#147;cause&#148; (as defined in the agreement and
summarized below); or </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">we terminate the executive&#146;s employment other than for &#147;cause&#148; before the change of control, and the
termination is at the request of the successor entity or is otherwise in anticipation of the change of control. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">71 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In the event of a qualifying termination, the executive will be entitled to compensation and benefits,
including the following: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">the <FONT STYLE="white-space:nowrap">pro-rata</FONT> portion of short-term incentive amounts earned through the date of
termination; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">a severance payment equal to two times (in the case of our chief executive officer), or one and <FONT
STYLE="white-space:nowrap">one-half</FONT> times (in the cases of the other named executive officers), the sum of the executive&#146;s: </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">highest annual rate of base salary paid to the executive during the three-year period ending on the date the executive
is terminated (the &#147;termination base salary&#148;); plus </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">the higher of (1)&nbsp;the highest actual short-term incentive amounts received by the executive during the past three
years before the year of termination; or (2)&nbsp;a specified percentage of the termination base salary (130% in the case of our chief executive officer, and from 80% to 100% in the case of our other named executive officers); plus
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman; font-size:7.5pt"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#161;</FONT></FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">the annual amount we would be required to contribute on the executive&#146;s behalf under any pension, 401(k), deferred
compensation, and other retirement plans based on the executive&#146;s termination base salary. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">the executive will become fully vested in accrued benefits under all pension, 401(k), deferred compensation, and any
other retirement plans maintained by us; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">all of the executive&#146;s unvested stock options, and shares of restricted stock, RSUs, or performance units will vest
in full, except that performance units earned based on our TSR are earned based on actual performance based on a truncated performance period as of the termination date, as described below; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">we will provide medical and dental health benefits for two years (for our chief executive officer) or one and <FONT
STYLE="white-space:nowrap">one-half</FONT> years (for the other named executive officers) following the termination date; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">the agreement has a &#147;best pay&#148; provision, so that severance payments will be reduced to the extent necessary
so that no portion of any payments payable upon a change of control would be subject to the excise tax under Section&nbsp;280G of the Internal Revenue Code, if the reduction would result in the net amount payable to the employee being greater than
the net amount received without the reduction. </P></TD></TR></TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:0%; font-size:10pt; font-family:ARIAL" ALIGN="justify">All payments under the change of control agreements are designed
to be paid in lump sum, subject to certain restrictions set forth in US Internal Revenue Code section 409A. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Throughout the change of control payout
period (two years for our chief executive officer, and one and <FONT STYLE="white-space:nowrap">one-half</FONT> years for the other named executive officers), the executive will be obligated not to induce any person in our employment to terminate
employment or accept employment with anyone other than us or, subject to certain limited exceptions, engage in any business or activity or render any services or provide any advice to any person, activity, business or entity that directly or
indirectly competes in any material manner with us or meaningfully support any person, business, entity or activity or initiate or further that business or activity. The restriction on post-termination employment will not apply to executives
residing in California, to the extent the restriction is not consistent with California law. In addition, as a condition to payment and providing any benefits under the agreements, the executive must deliver a general release of claims in favor of
us. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The agreements&#146; initial terms expire on the effective date&#146;s third anniversary. Unless either party gives notice of its intention not
to renew, the term will be automatically extended for successive three-year periods. Messrs.&nbsp;Douglas, Farrell, Hollingshead, and Sandercock&#146;s current agreements all expire January&nbsp;1, 2021. Mr.&nbsp;Pendarvis&#146; expires
August&nbsp;16, 2021. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:0%; font-size:10pt; font-family:ARIAL" ALIGN="justify">&#147;Cause&#148; is generally defined as the executive&#146;s (a)&nbsp;conviction or plea of guilty or nolo
contendere of a misdemeanor involving moral turpitude, dishonesty or a breach of trust; (b)&nbsp;commission of any act of theft, fraud, embezzlement or misappropriation against us; (c)&nbsp;failure to devote substantially all of the executive&#146;s
business time to our business affairs or material breach of the terms of any employment-related agreement; (d)&nbsp;failure to comply with any corporate policies that results or is likely to result in substantial injury, financial or otherwise, to
us or our reputation; (e)&nbsp;unauthorized disclosure or use of our confidential information, that results or is likely to result in substantial injury, financial or otherwise, to us or our reputation; (f)&nbsp;violation of any rules or regulations
of any governmental or regulatory body, that results or is likely to result in substantial injury, financial or otherwise, to us or our reputation; or (g)&nbsp;abuse of drugs, alcohol or illegal substances that results or is likely to result in
substantial injury, financial or otherwise, to us or our reputation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">72 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">A &#147;change of control&#148; is generally defined as (a)&nbsp;a transaction or series of
transactions whereby any person or related group of people directly or indirectly acquires beneficial ownership of our securities possessing more than 50% of the total combined voting power of our securities outstanding immediately after the
acquisition, subject to certain exceptions; (b)&nbsp;individuals who currently constitute the board cease for any reason to constitute at least a majority of the board, subject to certain exceptions; (c)&nbsp;the consummation by us of (1)&nbsp;a
merger, consolidation, reorganization, or business combination, subject to certain exceptions; (2)&nbsp;a sale or other disposition of all or substantially all of our assets in any single transaction or series of related transactions, subject to
certain exceptions; or (3)&nbsp;the acquisition of assets or stock of another entity, subject to certain exceptions; or (d)&nbsp;our stockholders approve a liquidation or dissolution of us. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">&#147;Good reason&#148; is generally defined as (a)&nbsp;the assignment to an executive of duties, responsibilities, authority, or reporting
relationship that are materially diminished when compared to the executive&#146;s duties, responsibilities, authority, or reporting relationship immediately before the change of control (including no longer reporting to the chief executive officer
or board of the parent company), except in connection with the termination of the executive&#146;s employment for cause, death or disability, or by the executive other than for good reason; (b)&nbsp;a material reduction in the executive&#146;s base
salary as in effect at the time of the change of control; (c)&nbsp;any material diminution in the aggregate benefits provided to the executive under benefit plans and arrangements in which the executive is participating at the time of the change of
control, unless an equitable arrangement (in an ongoing substitute or alternative plan) has been made with respect to the plan or arrangement; (d)&nbsp;any failure to continue in effect, or any material reduction in target short-term incentive
opportunity or any material increase in target performance objectives under, any short-term incentive or incentive plan or arrangement in which the executive is participating at the time of the change of control, which results in a material negative
change in the executive&#146;s short-term incentive or incentive compensation, unless an equitable arrangement (in an ongoing substitute or alternative plan) has been made with respect to such plan or arrangement with a comparable target short-term
incentive opportunity and comparable target performance objectives; (e)&nbsp;any material diminution in the budget over which the executive retains authority at the time of the change of control; (f)&nbsp;any requirement that the executive be based
anywhere that is at least 50 miles away from both (i)&nbsp;the executive&#146;s office location as of the date of the change of control and (ii)&nbsp;executive&#146;s then primary residence, except for required travel by executive on business;
(f)&nbsp;any failure to obtain the assumption of the change of control agreement by any successor or assign of ResMed; or (g)&nbsp;any other action or inaction by ResMed that constitutes a material breach of the change of control agreement under
which the executive provides services at the time of the change of control. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Equity award terms &#150; options and RSUs</I></B><B>.</B> During
fiscal year 2018, the committee approved equity grant agreements to executive officers for grants made in fiscal year 2018 and later, that provide accelerated vesting only on termination due to death or permanent disability, or on a termination
qualifying under the double-trigger benefits described in the<I> &#147;Change of control agreements&#148;</I> section above. The committee also provided that for grants made in fiscal year 2018 and later, RSU and option awards will vest on a <FONT
STYLE="white-space:nowrap">pro-rata</FONT> basis on a qualifying retirement, and vested options may be exercised until the earlier of (1) 36 months after retirement or (2)&nbsp;the original grant term. Before the committee&#146;s action, for grants
made in fiscal year 2017 and earlier, our forms of option agreement and RSU agreement for named executive officers provided accelerated vesting on a change of control, as well as on termination due to death or permanent disability. These existing
grant agreements were not modified, with either change, and these legacy grants will continue to apply until the covered awards have fully vested or are terminated. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Equity award terms &#150; long-term performance based stock units.</I></B><I> </I>Our form of performance-based stock unit agreement provides that
in the event of a change of control, death, permanent disability, an involuntary termination without cause, or voluntary termination for good reason, the following terms and number of units earned in these situations are calculated as follows: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Change of control: TSR performance is measured through the date of the change of control and determines the number of
units earned. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Death or permanent disability: 100% of target units are earned as of the date of the event. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Termination by company without cause or by executive for good reason or for qualifying retirement: TSR performance is
measured through the date of termination, and compared to a prorated performance target, and the number of units so earned are then <FONT STYLE="white-space:nowrap">pro-rated</FONT> based on executive&#146;s service during the performance period.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:11pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt">Termination by company for cause or by executive without good reason: all unearned units are forfeited.
&#147;Cause&#148; and &#147;good reason&#148; are defined the same as in our change of control agreements described above. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We
believe that providing a <FONT STYLE="white-space:nowrap">pro-rata</FONT> target adjustment and performance period measurement for performance stock units in the event of involuntary terminations without cause or voluntary terminations for good
reason in the absence of a change of control&#151;but requiring forfeitures for terminations with cause or resignations without good reason&#151;is an appropriate balance that reflects partial service during the vesting period of the PSUs, while
maintaining the performance incentives. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">73 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><B><I>Estimated value of benefits</I></B><B>.</B> The following table presents our reasonable estimate
of the benefits payable to our named executive officers under our agreements, assuming that the triggering event (either a change of control, a qualifying termination in connection with a change of control, death or disability, or a qualifying
termination not in connection with a change of control) occurred on June&nbsp;30, 2018, the last business day of fiscal year 2018. The table excludes benefits provided to all employees, such as accrued vacation, and benefits provided by third
parties under our life and other insurance policies. It includes benefits under disability insurance policies not provided to all employees. It also excludes the value of the named executive officer&#146;s deferred compensation account, which would
be payable on termination of employment for any reason. While we have made reasonable assumptions regarding the amounts payable, there can be no assurance that in the event of a triggering event our named executive officers would receive, in
addition to the cash compensation earned for the period, the amounts reflected below. The compensation amounts for Australian-based named executive officers are presented in US dollars based on the conversion rate in effect at the close of business
June&nbsp;30, 2018. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:7pt" ALIGN="center">


<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="29%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
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<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-left:8pt"><B>Named</B><br><B>executive</B><br><B>officer</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Triggering</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>event</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Cash</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>severance<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Health&nbsp;and</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>insurance<SUP STYLE="font-size:85%; vertical-align:top">(b)</SUP></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>Retirement</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>plan</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="center"><B>contributions<SUP
STYLE="font-size:85%; vertical-align:top">(c)</SUP></B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7"><B>Value&nbsp;of&nbsp;option,&nbsp;RSU,<BR>and&nbsp;
PSU<BR>acceleration<SUP STYLE="font-size:85%; vertical-align:top">(d)</SUP></B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1px solid #478ef7"><B>Total&nbsp;value<SUP STYLE="font-size:85%; vertical-align:top">(e)</SUP></B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1px solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" ROWSPAN="4" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL">Michael Farrell</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">Change&nbsp;of&nbsp;control</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$26,043,195</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$26,043,195</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Change of control</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">and qualifying</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">termination</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$5,605,000</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$105,313</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$22,000</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$26,043,195</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$31,775,508</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">Death or disability</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$424,640</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$27,982,342</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$28,406,982</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Qualifying</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">termination&nbsp;(without</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">change of&nbsp;control)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$14,155,424</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$14,155,424</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" ROWSPAN="4" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL">Rob Douglas</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">Change of control</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$17,473,411</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$17,473,411</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Change of control</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">and qualifying</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">termination</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$3,286,972</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$78,985</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$16,500</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$17,473,411</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$20,855,868</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">Death or disability</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$207,704</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$16,882,015</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$17,089,719</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Qualifying</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">termination&nbsp;(without</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">change of&nbsp;control)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$9,427,382</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$9,427,382</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" ROWSPAN="4" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL">Jim Hollingshead</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">Change of control</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$8,170,481</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$8,170,481</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Change of control</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">and qualifying</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">termination</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$2,170,000</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$78,985</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$16,500</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$8,170,481</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$10,435,966</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">Death or disability</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$271,180</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$8,744,860</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$9,016,041</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Qualifying</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">termination&nbsp;(without</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">change of&nbsp;control)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$4,702,193</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$4,702,193</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" ROWSPAN="4" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL">David Pendarvis</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">Change of control</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$7,608,554</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$7,608,554</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Change of control</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">and qualifying</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">termination</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$1,819,776</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$53,183</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$16,500</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$7,608,554</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$9,498,013</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">Death or disability</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$184,946</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$7,146,594</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$7,331,540</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Qualifying</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">termination&nbsp;(without</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">change of&nbsp;control)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$4,027,862</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$4,027,862</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="middle" ROWSPAN="4" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.60em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL">Brett Sandercock</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">Change of control</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$7,043,169</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$7,043,169</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Change of control</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">and qualifying</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">termination</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$1,570,587</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">-</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$63,945</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$7,043,169</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$8,677,701</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">Death or disability</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$6,928,257</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$6,928,257</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">Qualifying</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">termination&nbsp;(without</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL">change of&nbsp;control)</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$0</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$4,167,597</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$4,167,597</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(a)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Represents the dollar value of cash severance under the formula described above. For change of control and qualifying termination, this represents each executive&#146;s termination salary plus the short-term
incentive&nbsp;based&nbsp;on&nbsp;termination&nbsp;base&nbsp;pay&nbsp;specified&nbsp;above.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(b)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Represents continued medical and dental benefits for the payout period, based on our current costs to provide such coverage. When the triggering event is due change of control and qualifying termination, the amount includes a tax
gross-up. When the triggering event is termination due to disability, also includes the present value of monthly payments of executive disability through age 65 using the long-term applicable federal rate for June 30, 2018.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(c)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Represents the dollar value of retirement plan contributions, under the formula described above and based on the executive&#146;s termination base salary.</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">74 </P>

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<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

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<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(d)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">The value of accelerating options is based on the difference between the option exercise price and the June 30, 2018 closing price of our common stock on the NYSE ($103.58). The value of accelerating outstanding restricted stock
units is based on the June 30, 2018 closing price of our common stock on the NYSE. The value of accelerating performance stock units is based on interim TSR performance measured as of June 30, 2018. Termination based on death or disability value
PSUs based on target shares at the June 30, 2018 closing price of our common stock on the NYSE, the other PSU valuation were based on results as of June 30, 2018 of 225% for outstanding PSUs granted between 2015 and June 2017, and 100% for
outstanding PSUs granted in&nbsp;November 2017. No executive qualified for retirement under the 2009 Incentive Award Plan, as amended and restated during fiscal year 2018, which value would be included under termination without change of
control.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(e)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Excludes the value to the executive of the continued right to indemnification by us. Executives will be indemnified by us and will receive continued coverage under our directors&#146; and officers&#146; liability insurance (to
the extent applicable).</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_54"></A>Risk&nbsp;considerations&nbsp;in&nbsp;compensation&nbsp;programs&nbsp;
</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The compensation committee reviews our compensation programs for executives as well as our compensation policies and
practices for all employees, to evaluate whether the policies or practices present an environment that would facilitate excessive risks or behaviors. The committee believes that our programs, policies and practices, are not reasonably likely to have
a material adverse effect on our company. This conclusion is supported by the combination of controls and considerations used in our compensation program, including the annual review of the program, blend of short-, long-term and incentive-based
compensation, the use of performance-based targets and evaluations, and our compensation recovery policy. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="10%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_55"></A>Chief&nbsp;executive&nbsp;officer&nbsp;pay&nbsp;ratio&nbsp;
</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We are providing information about the relationship between the annual total compensation of our chief executive officer
and an estimate of the median of the annual total compensation of our other employees. This information is required by the US Dodd-Frank Wall Street Reform and Consumer Protection Act and applicable SEC rules. We have used June&nbsp;30, 2018 as the
date for establishing the employee population used in identifying the median employee and the fiscal year as the measurement period. We captured all full-time, part-time and temporary employees as of that date, consisting of 5,617 individuals. We
identified the median employee using total target cash including base salary or wages, target incentive payment and cash allowances paid to our employees. For fiscal year 2018, the annual total compensation of the employee identified at median of
our company (other than our chief executive officer), was $60,725; and the annual total compensation of our chief executive officer for purposes of determining this pay ratio was $9,082,204. The annual total compensation of the median employee and
the annual total compensation of the chief executive officer were calculated in accordance with the requirements of Item 402(c)(2)(x) of Regulation <FONT STYLE="white-space:nowrap">S-K.</FONT> Based on this information, for fiscal year 2018, we
estimate the ratio of the annual total compensation of our chief executive officer to the annual total compensation of our median employee was 150 to 1. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="10%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_56"></A>Compensation&nbsp;committee&nbsp;report&nbsp;</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The compensation committee has reviewed and discussed the compensation discussion and analysis with management, and
based on the review and discussions, the compensation committee recommended to our board that the compensation discussion and analysis be included in our 2018 annual report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> (where it is
incorporated by reference) and in this proxy statement for the 2018 annual meeting of stockholders. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Compensation committee </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Rich Sulpizio, chair </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Karen Drexler </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Gary
Pace </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><I>The report of the compensation committee will not be deemed to be incorporated by reference to any filing by ResMed under the Securities
Act of 1933 or the Securities Exchange Act of 1934, except to the extent that ResMed specifically incorporates it by reference. </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">75 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13.5pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_57"></A>A<SMALL>UDIT</SMALL> COMMITTEE REPORT
</B></FONT></P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Following is the report of
the audit committee with respect to our audited consolidated balance sheet as of June&nbsp;30, 2018 and 2017, and the related consolidated statements of income, comprehensive income, stockholders&#146; equity, and cash flows for each of the years in
the three-year period ended June&nbsp;30, 2018, and the notes to those statements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The audit committee, acting on behalf of our board, oversees our
financial reporting process and systems of internal accounting control, and exercises oversight over management&#146;s assessment of internal controls. Our management has primary responsibility for our financial statements as well as its financial
reporting process, accounting principles and systems of internal accounting controls. The independent registered public accounting firm is responsible for performing an audit of our financial statements and expressing an opinion as to the conformity
of the financial statements with US generally accepted accounting principles. The independent registered public accounting firm is also responsible for auditing our internal control over financial reporting, and expressing an opinion on the
effectiveness of our internal control over financial reporting. In this context, the audit committee has reviewed and discussed with management and its independent registered public accounting firm, KPMG LLP, our audited financial statements as of
and for the fiscal year ended June&nbsp;30, 2018, and the effectiveness of our internal controls as of June&nbsp;30, 2018. The audit committee has discussed with our independent registered public accounting firm the matters required to be discussed
by Statement on Auditing Standards No.&nbsp;1301, &#147;Communications with Audit Committees,&#148; as adopted by the Public Company Accounting Oversight Board, or PCAOB. In addition, the audit committee has received and reviewed the written
disclosures and the letter from the independent registered public accounting firm required by the PCAOB regarding the independent registered public accounting firm&#146;s communications with the audit committee concerning the registered public
accounting firm&#146;s independence and it has discussed with the independent registered public accounting firm its independence from ResMed and its management. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The audit committee members are not engaged in the accounting or auditing profession and are not involved in <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">day-to-day</FONT></FONT> operations of ResMed. In the performance of their oversight function, the audit committee&#146;s members necessarily rely on the information, opinion, reports and statements presented to them by
our management and by the independent registered public accounting firm. The audit committee&#146;s oversight and the review and discussions referred to above do not assure that management has maintained adequate financial reporting processes,
principles and systems of internal accounting controls, that our financial statements are accurate, that the audit of the financial statements has been conducted in accordance with standards of the PCAOB or that our independent registered public
accounting firm meets the applicable standards for auditor independence. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Based on the reports and discussions described above, the audit committee
recommended to our board that the audited financial statements be included in our annual report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the fiscal year ended June&nbsp;30, 2018, for filing with the SEC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Audit committee </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Carol Burt, chair </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Ron Taylor </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Jack
Wareham </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify"><I>The report of the audit committee will not be deemed to be incorporated by reference to any filing by ResMed under the Securities Act of
1933 or the Securities Exchange Act of 1934, except to the extent that ResMed specifically incorporates it by reference. </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">76 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13.5pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_58"></A>A<SMALL>UDIT</SMALL> <SMALL>FEES</SMALL>
</B></FONT></P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P> <P STYLE="margin-top:16pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The following table presents
fees for professional audit services by KPMG LLP for the audit of our annual financial statements for fiscal years 2018 and 2017, and fees billed for other services by KPMG LLP. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="28%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="28%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-LEFT:1.50pt solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"><B>Fees</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1.50pt solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2018</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1.50pt solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt; BORDER-RIGHT:1px solid #478ef7; padding-right:2pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;2017</B></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Audit fees<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$2,021,613&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$2,036,124&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Audit-related fees</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><FONT STYLE="white-space:nowrap">Tax-related&nbsp;fees</FONT></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$25,000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">All other fees<SUP STYLE="font-size:85%; vertical-align:top">(b)</SUP></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">$0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">Total fees</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" BGCOLOR="#cceeff">$2,046,613&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">$2,036,124&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(a)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">Fees for audit services consisted of: (1)&nbsp;audits of our annual financial statements and systems of internal accounting
controls; (2)&nbsp;reviews of our quarterly financial statements; (3)&nbsp;consents and other services related to US SEC matters; and (4)&nbsp;Sarbanes-Oxley Act Section&nbsp;404 attestation reports.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(b)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:8pt">Fees related to review and approvals of financial statements included in registration statements.</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="15%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_59"></A><FONT STYLE="white-space:nowrap">Pre-approval&nbsp;policy&nbsp;
</FONT></B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The audit committee <FONT STYLE="white-space:nowrap">pre-approves</FONT> all audit and permissible <FONT
STYLE="white-space:nowrap">non-audit</FONT> fees. Since the 2003 effective date of the SEC rules stating that an auditor is not independent of an audit client if the services it provides to the client are not appropriately approved, each new
engagement of KPMG LLP was approved in advance by our audit committee, and none of those engagements made use of the rules&#146; <I>de minimus</I> exception to <FONT STYLE="white-space:nowrap">pre-approval.</FONT> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">77 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13.5pt; font-family:ARIAL"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_60"></A>C<SMALL>OMMON</SMALL> <SMALL>STOCK</SMALL>
<SMALL>OWNERSHIP</SMALL> <SMALL>OF</SMALL> <SMALL>PRINCIPAL</SMALL> <SMALL>STOCKHOLDERS</SMALL> <SMALL>AND</SMALL> <SMALL>MANAGEMENT</SMALL> </B></FONT></P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P> <P STYLE="margin-top:20pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The following table shows the number and
percentage of shares of our common stock that, according to information supplied to us, are beneficially owned as of the record date by: (1)&nbsp;each person who, to our knowledge based on Schedules 13G filed with the SEC and Substantial Stockholder
Notices filed with the ASX, is the beneficial owner of more than 5%&nbsp;of our outstanding common stock; (2)&nbsp;each person who is currently a director or a nominee for election as director; (3)&nbsp;each of the named executive officers; and
(4)&nbsp;all current directors and executive officers as a group. In this proxy statement, &#147;beneficial ownership&#148; means the sole or shared power to vote, or to direct the voting of, a security, or the sole or shared investment power with
respect to a security (that is, the power to dispose of, or to direct the disposition of, a security). All of the following calculations are based on 142,691,815 shares of our common stock outstanding (which excludes treasury shares) on
September&nbsp;17, 2018, the record date. Except to the extent indicated in the footnotes to the following table, the person or entity listed has sole voting and dispositive power with respect to the shares that are deemed beneficially owned by the
person or entity, subject to community property laws, where applicable. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="43%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="25%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"><B>Name&nbsp;of&nbsp;beneficial&nbsp;owner</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amount&nbsp;and&nbsp;nature&nbsp;of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;beneficial&nbsp;ownership&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt; BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Percent&nbsp;of&nbsp;outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;common&nbsp;stock&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Vanguard</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">&nbsp;&nbsp;100
Vanguard Blvd.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:10pt; font-family:ARIAL" ALIGN="right">14,281,291&nbsp;<SUP
STYLE="font-size:85%; vertical-align:top">(a)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:10pt; font-family:ARIAL" ALIGN="center">10.01%&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">&nbsp;&nbsp;Malvern, PA 19355</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Capital
World&nbsp;Investors</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">&nbsp;&nbsp;333&nbsp;South&nbsp;Hope&nbsp;Street</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:10pt; font-family:ARIAL" ALIGN="right">12,186,700&nbsp;<SUP
STYLE="font-size:85%; vertical-align:top">(b)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:10pt; font-family:ARIAL" ALIGN="center">8.54%&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">&nbsp;&nbsp;Los&nbsp;Angeles,&nbsp;CA&nbsp;90071</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">Black&nbsp;Rock,&nbsp;Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">&nbsp;&nbsp;55 East
52nd Street</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:10pt; font-family:ARIAL" ALIGN="right">12,149,423&nbsp;<SUP
STYLE="font-size:85%; vertical-align:top">(c)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:10pt; font-family:ARIAL" ALIGN="center">8.51%&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">&nbsp;&nbsp;New York, NY 10055</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">FMR LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">&nbsp;&nbsp;245
Summer Street</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #478ef7">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:10pt; font-family:ARIAL" ALIGN="right">8,257,459&nbsp;<SUP STYLE="font-size:85%; vertical-align:top">(d)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:10pt; font-family:ARIAL" ALIGN="center">5.79%&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">&nbsp;&nbsp;Boston, MA 02210</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">78 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="96%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt">


<TR>
<TD WIDTH="43%"></TD>
<TD VALIGN="bottom" WIDTH="20%"></TD>
<TD style="width:78pt"></TD>
<TD></TD>
<TD></TD>
<TD style="width:78pt"></TD>
<TD VALIGN="bottom" WIDTH="20%"></TD>
<TD style="width:69pt"></TD>
<TD></TD>
<TD></TD>
<TD style="width:69pt"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>&nbsp;&nbsp;&nbsp;&nbsp;Executive&nbsp;officers,&nbsp;directors&nbsp;and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;nominees</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" NOWRAP ALIGN="right" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right"><B>Amount&nbsp;and&nbsp;nature&nbsp;of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="right"><B>beneficial&nbsp;ownership<SUP STYLE="font-size:85%; vertical-align:top">(e)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" NOWRAP ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Percent&nbsp;of&nbsp;outstanding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>common&nbsp;stock&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; padding-left:8pt" BGCOLOR="#cceeff">Michael Farrell</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" ALIGN="right">415,078&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #54a0ff" BGCOLOR="#cceeff">*</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Rob Douglas</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="right">346,178&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">*</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; padding-left:8pt" BGCOLOR="#cceeff">Peter Farrell</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" ALIGN="right">240,896&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #54a0ff" BGCOLOR="#cceeff">*</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">David Pendarvis</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="right">213,593&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">*</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt" BGCOLOR="#cceeff">Gary Pace</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff" ALIGN="right">167,717&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff">*</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Jack Wareham</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="right">116,226&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">*</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt" BGCOLOR="#cceeff">Jim Hollingshead</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff" ALIGN="right">84,539&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff">*</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Brett Sandercock</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="right">81,306&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">*</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt" BGCOLOR="#cceeff">Richie McHale</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff" ALIGN="right">36,641&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff">*</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Ron Taylor</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="right">21,751&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">*</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt" BGCOLOR="#cceeff">Carol Burt</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff" ALIGN="right">21,640&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff">*</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Raj Sodhi</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="right">20,398&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">*</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt" BGCOLOR="#cceeff">Rich Sulpizio</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff" ALIGN="right">7,420&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff">*</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Karen Drexler</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="right">2,991&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">*</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt" BGCOLOR="#cceeff">Harjit Gill</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff" ALIGN="right">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff"></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff" BGCOLOR="#cceeff">*</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>All current executive officers and</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL"><B>directors as a group (14 persons)</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff"><B>&nbsp;</B></TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:2.00pt solid #54a0ff" ALIGN="right"><B>1,776,374&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"><B></B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" COLSPAN="4" ALIGN="center" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"><B>1.24%</B></TD></TR>
</TABLE></DIV> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:ARIAL; " ALIGN="justify">Less than 1% </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(a)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Based on information provided in Schedule 13G/A filed with the SEC on February&nbsp;12, 2018, by The Vanguard Group, that reports sole voting over 201,655 shares, sole dispositive power over 14,049,153 shares, shared voting power
over 31,580 shares and shared dispositive power over 232,138 shares.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(b)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Based on information provided in Schedule 13G/A filed with the SEC on February&nbsp;14, 2018, by Capital World Investors, that reports sole voting and dispositive power over all these shares.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(c)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Based on information provided in Schedule 13G/A filed with the SEC on February&nbsp;8, 2018, by BlackRock, Inc., that reports sole voting power over 10,629,839 shares and sole dispositive power over all these shares.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(d)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Based on information provided in Schedule 13G filed with the SEC on February&nbsp;13, 2018, by FMR, Inc., that reports sole voting power over 510,030 shares and sole dispositive power over all these shares.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(e)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Beneficial ownership is stated as of September&nbsp;17, 2018, and includes shares subject to options exercisable, and restricted stock units (RSUs) that vest within sixty days after September&nbsp;17, 2018, as set forth below.
Does not include shares subject to PSUs that may be earned and vest in November 2018 as their number cannot be finally determined until the compensation committee certifies the performance of the TSR objectives in November. Shares subject to those
options and RSUs are deemed beneficially owned by the holder to compute that person&#146;s ownership percentage, but are not treated as outstanding to compute any other person&#146;s ownership percentage. Shares have been rounded to the nearest
whole number.</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="96%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="middle" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Executive&nbsp;officers,</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;directors&nbsp;and&nbsp;nominees</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff"><B>Stock&nbsp;options</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:2.00pt solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #54a0ff; BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt"><B>RSUs<SUP STYLE="font-size:85%; vertical-align:top">(i)</SUP></B></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Michael Farrell</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">220,480&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">32,277&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Rob Douglas</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">219,325&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">16,647&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Peter Farrell</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">2,991&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">David Pendarvis</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">124,342&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">6,323&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Gary Pace</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">67,139&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">2,991&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Jack Wareham</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">103,226&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Jim Hollingshead</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">40,523&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">11,157&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Brett Sandercock</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">27,157&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">11,777&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Richie McHale</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">27,846&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">4,850&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Ron Taylor</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">2,991&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Carol Burt</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">2,991&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Raj Sodhi</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">9,726&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Rich Sulpizio</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">2,991&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Karen Drexler</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">2,991&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-left:8pt">Harjit Gill</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #54a0ff">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-RIGHT:1px solid #54a0ff; BORDER-BOTTOM:2.00pt solid #54a0ff; padding-right:2pt">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:ARIAL; " ALIGN="left">Excludes shares that may vest from the November 2015 PSU grant, because they are not determinable until the performance
period ends. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">79 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13.5pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_61"></A>E<SMALL>QUITY</SMALL>
<SMALL>COMPENSATION</SMALL> <SMALL>PLAN</SMALL> <SMALL>INFORMATION</SMALL> </B></FONT></P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The following table summarizes outstanding incentive award plan balances as of June&nbsp;30, 2018. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="39%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="20%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="21%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="17%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7; padding-left:8pt"><B>Plan&nbsp;category</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-TOP:2.00pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Number&nbsp;of&nbsp;securities&nbsp;to&nbsp;be&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>issued&nbsp;on&nbsp;exercise&nbsp;of&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>outstanding&nbsp;options,&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>warrants&nbsp;and&nbsp;rights<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-TOP:2.00pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Weighted&nbsp;average&nbsp;exercise&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>price&nbsp;of&nbsp;outstanding&nbsp;options,&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>warrants&nbsp;and&nbsp;rights<SUP STYLE="font-size:85%; vertical-align:top">(b)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-TOP:2.00pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; padding-right:2pt"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>Number&nbsp;of&nbsp;securities&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>remaining&nbsp;available&nbsp;for&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>future&nbsp;issue&nbsp;under&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>equity&nbsp;compensation&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>plans<SUP STYLE="font-size:85%; vertical-align:top">(c)</SUP>&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Equity compensation plans approved</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL">by security holders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #478ef7" BGCOLOR="#cceeff">2,850,580</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #478ef7" BGCOLOR="#cceeff">$60.48</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">17,767,256</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Employee stock purchase plan approved</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL">by security holders</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #478ef7">N/A</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #478ef7">N/A</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; padding-right:2pt">537,880</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7; padding-left:8pt" BGCOLOR="#cceeff"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Equity compensation plans&nbsp;not
approved</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL">by security holders</P></TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #478ef7" BGCOLOR="#cceeff">0</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #478ef7" BGCOLOR="#cceeff">0</TD>
<TD VALIGN="bottom" BGCOLOR="#cceeff" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; padding-right:2pt" BGCOLOR="#cceeff">0</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL">Total</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">2,850,580</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">$60.48</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:2.00pt solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-TOP:2.00pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:2.00pt solid #478ef7; padding-right:2pt">18,305,136</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="97%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(a)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Represents shares reserved for options, RSUs and PSUs outstanding under our 1997 and 2009 incentive award plans. Includes 1,205,826 shares reserved for outstanding options, 751,261 shares reserved for outstanding RSUs and 893,493
shares reserved for outstanding PSUs. Shares reserved for PSUs are calculated at target number of shares for all outstanding PSU grants, assuming target achievement of performance related conditions, even though if performance were measured as of
June&nbsp;30, 2018, shares would have been earned above the target PSU grant.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(b)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Represents the weighted-average exercise price of the 1,205,826 outstanding stock options as of June&nbsp;30, 2018.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">(c)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Represents shares available for issuance under our incentive plan and our employee stock purchase plan. Assumes 2,501,780 shares are not available to issue, because they would be issued if all outstanding TSR performance-based
stock units were earned at the maximum possible level (225% of target). Does not give effect to the proposal to increase the authorized shares under our employee stock purchase plan by 2,000,000 shares that the stockholders are being asked to
approve at this Annual Meeting. See &#147;Proposal 3 Approval of Amendments to the ResMed Inc. 2009 Employee Stock Purchase Plan.&#148;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">80 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13.5pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_62"></A>S<SMALL>ECTION</SMALL>&nbsp;16(<SMALL>A</SMALL>)
<SMALL>BENEFICIAL</SMALL> <SMALL>OWNERSHIP</SMALL> <SMALL>REPORTING</SMALL> <SMALL>COMPLIANCE</SMALL> </B></FONT></P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Section&nbsp;16(a) of the Securities
Exchange Act of 1934 requires our directors, executive officers, and individuals who own more than 10% of a registered class of our equity securities to file with the SEC initial reports of ownership and reports of change in ownership of our common
stock and other equity securities. SEC regulations also require executive officers, directors and 10% stockholders to furnish us with copies of all Section&nbsp;16(a) forms they file. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Based solely on our review of copies of the forms we received, or written representations from certain reporting individuals, we believe that all
Section&nbsp;16(a) filing requirements applicable to our directors, executive officers and 10% stockholders during fiscal year 2018 were satisfied. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">81 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13.5pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_63"></A>T<SMALL>RANSACTIONS</SMALL> <SMALL>WITH</SMALL>
<SMALL>RELATED</SMALL> <SMALL>PERSONS</SMALL> </B></FONT></P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Our code of conduct requires directors, executive officers, and employees to disclose any situations that would reasonably be expected to give rise to a
conflict of interest. Conflicts involving executive officers may be waived only by our board or the appropriate board committee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Under our related
party transaction policy and procedures, our audit committee will review and either approve or disapprove any transaction between ResMed and an executive officer, director, director nominee, or any other &#147;related party&#148; (as defined under
Item&nbsp;404 of SEC Regulation <FONT STYLE="white-space:nowrap">S-K)</FONT> valued at $120,000 or more. Management is responsible for providing a report to the audit committee on an ongoing basis as to all potential related party transactions.
Under this policy, the audit committee has <FONT STYLE="white-space:nowrap">pre-approved</FONT> any compensation arrangement that is approved by our compensation committee for payment to an executive officer, or to a family member of a board member
or executive officer, if approved by the compensation committee or approved in the normal course of business without the participation by the board member or executive officer. We historically and currently review in detail the responses of our
executive officers and directors to their director&#146;s and officer&#146;s questionnaires for any reportable related party transactions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Michael
Farrell is our chief executive officer and a director, and the son of Peter Farrell, our founder and <FONT STYLE="white-space:nowrap">non-executive</FONT> chairman. Their compensation is discussed in this proxy statement under the section
&#147;Compensation Discussion&nbsp;and Analysis&#148; for Michael Farrell, and &#147;Director Compensation &#150; 2018&#148; for Peter Farrell. We set compensation for Michael Farrell and Peter Farrell in accordance with our related party
transaction policy. In setting compensation, we followed the same policies and practices that we have historically used to set compensation for other similarly-situated employees and directors. In addition, all compensation paid to Michael Farrell
was approved by our compensation committee; all compensation paid to Peter Farrell was approved by the independent members of our board (without Michael Farrell or Peter Farrell&#146;s participation), after considering the compensation
committee&#146;s recommendation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">82 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13.5pt; font-family:ARIAL"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_64"></A>T<SMALL>RANSACTION</SMALL> <SMALL>OF</SMALL>
<SMALL>OTHER</SMALL> <SMALL>BUSINESS</SMALL> <SMALL>THAT</SMALL> <SMALL>MAY</SMALL> <SMALL>PROPERLY</SMALL> <SMALL>COME</SMALL> <SMALL>BEFORE</SMALL> <SMALL>THE</SMALL>&nbsp;<SMALL>MEETING</SMALL> </B></FONT></P>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">We are not aware of any other matters to come before the annual meeting, and we have not received timely notice from any stockholder that they intend to
present any other proposal at the meeting. If any matter not mentioned in this proxy statement is properly brought before the annual meeting, the persons named as proxies in the accompanying proxy, or their substitutes, will have discretionary
authority to vote all proxies on those matters according to their best judgment. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">83 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13.5pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#54a0ff"><B><A NAME="toc612931_65"></A>S<SMALL>TOCKHOLDER</SMALL>
<SMALL>PROPOSALS</SMALL> <SMALL>FOR</SMALL> 2019 <SMALL>ANNUAL</SMALL> <SMALL>MEETING</SMALL> </B></FONT></P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.50pt solid #7b7b7b">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="32%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_66"></A>Proposals&nbsp;included&nbsp;in&nbsp;the&nbsp;proxy&nbsp;
statement</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Under SEC rules, if a stockholder wishes to submit a proposal for possible inclusion in the proxy statement for our 2019
annual meeting, we must receive it no later than 120 days before the anniversary of this year&#146;s mailing date. Accordingly, to be timely, we must receive any proposal at our principal executive office in San Diego, California, USA, on or before
June&nbsp;6, 2019. The proposal must also comply with Rule <FONT STYLE="white-space:nowrap">14a-8</FONT> under the Securities and Exchange Act of 1934. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="34%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_67"></A>Proposals&nbsp;not&nbsp;included&nbsp;in&nbsp;the&nbsp;proxy&nbsp;
statement</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Under our amended and restated bylaws, to nominate a director or bring any other business before the stockholders at the
2019 annual meeting that will not be included in our proxy statement, you must comply with the procedures described below. In addition, you must notify us in writing and deliver that notice to our secretary no earlier than August&nbsp;17, 2019, and
no later than September&nbsp;6, 2019. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Our bylaws require a stockholder&#146;s notice of a proposed business item or nominee to include: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">a brief description of the business desired to be brought before the meeting; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">the reasons for conducting that business at the meeting; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">any material interest of the stockholder, beneficial owner, participants with the stockholder in the solicitation,
associate of the stockholder, and any other person acting in concert with the stockholder or beneficial owner (each, a &#147;Proposing Person&#148;) in the proposed business (including a reasonably detailed description of all understandings between
or among the Proposing Persons, or between or among any Proposing Person and other person or entity); </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">the beneficial owner, if any, on whose behalf the proposal is made; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">if the proposed business includes a proposal to amend our bylaws, the language of the proposed amendment.
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">If the stockholder proposes to nominate a director, the notice must include all information relating to the nominee that is
required to be disclosed under applicable SEC rules. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">In addition, the bylaws provide that a stockholder proposing any nomination or other business
item must include, as to all Proposing Persons: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">the name and address of the Proposing Person, as they appear on our books; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">the class and number of shares of our capital stock that are owned beneficially and of record by the Proposing
Persons; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">a representation that the stockholder is a holder of record of our stock entitled to vote at the meeting and intends
to appear in person or by proxy at the meeting to propose the business or nomination; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">a representation whether the Proposing Person intends: (a)&nbsp;to deliver a proxy statement and/or form of proxy to
holders of at least the percentage of our outstanding capital stock required to approve or adopt the proposal or elect the nominee; and/or (b)&nbsp;otherwise to solicit proxies from stockholders in support of the proposal or nomination; and
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">as to each Proposing Person: </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">a.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">the full notional amount of any securities that, directly or indirectly, underlie any derivative security;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">b.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">any rights to dividends on any shares of the company beneficially owned by the Proposing Person that are separated or
separable from the underlying security; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">c.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">any material pending or threatened legal proceeding, in which a Proposing Person is a party, that involves us or any
of our officers, directors or affiliates; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">d.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">any other material relationship between the Proposing Person and the company, its affiliates or principal competitors;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">e.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">any direct or indirect material interest of a Proposing Person with the company, its affiliates or principal
competitors; and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">f.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">any other information relating to a Proposing Person that would be required to be disclosed in a filing required to be
made in connection with the solicitation of proxies or consents in support of the business proposed to be brought before the meeting. We may require any proposed nominee to furnish other information that we may reasonably deem appropriate in
determining the eligibility of the proposed nominee to serve as our director. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">84 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Our bylaws require a stockholder&#146;s nomination to contain the following information about the
nominee: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">all information that would be required to be disclosed regarding the nominee if the nominee were a Proposing Person;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">all information relating to the nominee that is required to be disclosed in proxy solicitations for a director
election contest, or is otherwise required, in each case by the then-current version of Regulation 14A under the Securities Exchange Act of 1934, and Rule <FONT STYLE="white-space:nowrap">14a-12;</FONT> </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">a description of any direct or indirect material interest in any material contract between or among any Proposing
Person, on one hand, and each candidate for nomination or the respective associates and other participants in the solicitation, on the other hand; and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL; " ALIGN="justify">the nominee&#146;s written consent to being named in the proxy statement as a nominee and to serving as a director if
elected. Any candidates recommended by a stockholder for nomination to the board will be evaluated in the same manner that nominees suggested by board members, management or other parties are evaluated. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">You may write to our secretary at ResMed Inc., 9001 Spectrum Center Boulevard, San Diego, California 92123 USA to deliver the notices discussed above
and for a copy of the relevant bylaw provisions regarding the requirements for making stockholder proposals and nominating director candidates under the bylaws. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="44%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_68"></A>Cautionary&nbsp;note&nbsp;regarding&nbsp;forward-looking&nbsp;
statements</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Statements contained in this proxy statement that are not historical facts are &#147;forward-looking&#148; statements
under the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding our plans to pay quarterly dividends, our net revenue, net income, and diluted earnings per share performance, are subject
to risks and uncertainties, which could cause actual results to materially differ from those projected or implied in the forward-looking statements. Those risks and uncertainties are discussed in our Annual Report on Form <FONT
STYLE="white-space:nowrap">10-K</FONT> for our most recent fiscal year and in other reports we file with the US&nbsp;Securities and Exchange Commission. Those reports are available on our website. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">85 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><U><A NAME="toc612931_69"></A>APPENDIX A</U> </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="35%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top" BGCOLOR="#54a0ff">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL"><FONT COLOR="#FFFFFF"><B><A NAME="toc612931_70"></A><FONT STYLE="white-space:nowrap">Reconciliation&nbsp;of&nbsp;non-GAAP&nbsp;
financial&nbsp;measures&nbsp;</FONT></B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The measure, <FONT STYLE="white-space:nowrap">&#147;non-GAAP</FONT> income from operations&#148; is reconciled with GAAP
income from operations below (in US$ thousands, except share and per share data): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="68%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD WIDTH="15%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="5" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Twelve&nbsp;months&nbsp;ended&nbsp;
June&nbsp;30,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><B>2018&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" COLSPAN="3" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7"><B>2017&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">GAAP income from operations</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$541,831&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$425,798</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">Amortization of acquired intangible assets<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">46,383&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">46,578</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">Restructuring expenses<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">18,432&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">12,358</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">Astral battery field safety notification expenses</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">5,070</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">Litigation settlement expenses</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">8,500</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">Acquisition and integration expenses<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">10,076</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify"><FONT STYLE="white-space:nowrap">Non-GAAP</FONT> income from operations</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$606,646&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$508,380</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" COLSPAN="6" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The measures <FONT STYLE="white-space:nowrap">&#147;non-GAAP</FONT> net
income&#148; and <FONT STYLE="white-space:nowrap">&#147;non-GAAP</FONT> diluted earnings per share&#148; are reconciled with GAAP net income and GAAP diluted earnings per share in the table below:</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0em; text-indent:0em; font-size:10pt; font-family:ARIAL">&nbsp;</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt"></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="5" ALIGN="center" STYLE="BORDER-TOP:1.50pt solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Twelve&nbsp;months&nbsp;ended&nbsp;
June&nbsp;30,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7"><B>2018&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7; BORDER-RIGHT:1px solid #478ef7"><B>2017&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">GAAP net income</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$315,588&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$342,284</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">Amortization of acquired intangible assets, net of
tax<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">33,694&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">31,679</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">U.S. tax reform transition impact<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">126,881&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">-</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">U.S. tax reform impact on deferred taxes<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">11,135&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">-</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">Restructuring expenses, net of tax<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP></P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">13,328&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">8,295</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">Foreign tax credit adjustment</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">7,204&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">-</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">Astral battery field safety notification expenses</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">3,549</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">Litigation settlement expenses, net of tax</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">5,392</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">Acquisition related expenses</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">10,076</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify"><FONT STYLE="white-space:nowrap">Non-GAAP</FONT> net
income<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$507,830&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$401,275</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">Diluted shares outstanding</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">143,987&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">142,453</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify">GAAP diluted earnings per share</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$2.19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$2.40</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-left:8pt"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL" ALIGN="justify"><FONT STYLE="white-space:nowrap">Non-GAAP</FONT> diluted earnings per share<SUP
STYLE="font-size:85%; vertical-align:top">(a)</SUP></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">$3.53&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7">&nbsp;</TD>
<TD VALIGN="middle" STYLE="BORDER-BOTTOM:1.50pt solid #478ef7" ALIGN="right">$2.82</TD>
<TD NOWRAP VALIGN="middle" STYLE="BORDER-RIGHT:1px solid #478ef7; BORDER-BOTTOM:1.50pt solid #478ef7; padding-right:2pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">(a)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">ResMed adjusts for the impact of the Astral battery field safety notification expenses, movements in the
<FONT STYLE="white-space:nowrap">SERVE-HF</FONT> accrual, restructuring expenses, litigation settlement expenses, <FONT STYLE="white-space:nowrap">one-time</FONT> deferred revenue fair value adjustment, acquisition related expenses, and amortization
of acquired intangible assets from their evaluation of ongoing operations and believes investors benefit from adjusting these items to facilitate a more meaningful evaluation of current operating performance.</P>
<P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL">ResMed believes that <FONT STYLE="white-space:nowrap">non-GAAP</FONT> diluted earnings per share
is an additional measure of performance investors can use to compare operating results between reporting periods. ResMed uses <FONT STYLE="white-space:nowrap">non-GAAP</FONT> information internally in planning, forecasting, and evaluating the
results of operations in the current period and in comparing it to past periods. ResMed believes this information provides investors better insight in evaluating ResMed&#146;s performance from core operations and provides consistent financial
reporting. Our use of <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measures is intended to supplement, and not to replace, our presentation of net income and other GAAP measures. Like all <FONT STYLE="white-space:nowrap">non-GAAP</FONT>
measures, <FONT STYLE="white-space:nowrap">non-GAAP</FONT> earnings are subject to inherent limitations because they do not include all the expenses that must be included under GAAP.</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">86 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc612931_71"></A><U>APPENDIX B</U> </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>THE RESMED INC. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>2018 EMPLOYEE STOCK
PURCHASE PLAN </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>DATED: AUGUST&nbsp;17, 2018 </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">87 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>2018 EMPLOYEE STOCK PURCHASE PLAN </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>TABLE OF CONTENTS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="85%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right"><B><U>Page</U></B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">1.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_73">Definitions.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">89</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">2.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_74">Stock Subject to the Plan.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">3.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_75">Grant of Options.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">4.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_76">Exercise of Options; Option Price.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">5.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_77">Withdrawal from the Plan.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">6.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_78">Termination of Employment.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">7.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_79">Restriction upon Assignment.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">8.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_80">No Rights of Stockholders until Shares Issued.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">9.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_81">Changes in the Stock and Corporate Events; Adjustment of Options.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">10.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_82">Use of Funds; No Interest Paid.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">11.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_83">Amendment, Suspension or Termination of the Plan.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">12.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_84">Administration by Committee; Rules and Regulations.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">13.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_85">Designation of Subsidiary Corporations.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">14.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_86">No Rights as an Employee.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">15.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_87">Term; Approval by Stockholders.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">16.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_88">Effect upon Other Plans.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">17.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_89">Conditions to Issuance of Stock Certificates.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">18.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_90">Notification of Disposition.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">101</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">19.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_91">Notices.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">101</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">20.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_92">Additional Restrictions of Rule <FONT STYLE="white-space:nowrap">16b-3.</FONT></A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">101</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">21.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_93">Equal Rights and Privileges.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">101</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">22.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_94">Electronic Forms.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">101</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">23.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_95">Taxes.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">101</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">24.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_96">Code Section&nbsp;409A; Tax Qualification.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">25.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_97">Governing Law; Venue.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">26.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_98">Severability.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.00em; font-size:10pt; font-family:ARIAL">27.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx612931_99">Headings.</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>THE RESMED INC. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>2018 EMPLOYEE STOCK PURCHASE PLAN </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">ResMed
Inc., a Delaware corporation (the &#147;Company&#148;), adopted the ResMed Inc. Employee Stock Purchase Plan, renamed as the ResMed Inc. 2018 Employee Stock Purchase Plan (the &#147;Plan&#148;), effective as of November&nbsp;14, 2003. The Plan has
been most recently amended on August&nbsp;17, 2018. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The purposes of the Plan are as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:3%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;To assist Eligible Employees of the Company and its Designated Subsidiaries (as defined below) in acquiring
stock ownership in the Company pursuant to a plan which is intended to qualify as an &#147;employee stock purchase plan,&#148; within the meaning of Section&nbsp;423(b) of the Code (as defined below). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:3%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;To help such employees provide for their future security and to encourage them to remain in the employment of
the Company and its Subsidiary Corporations. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">The Company intends for Offerings under the Plan to qualify as an &#147;employee stock purchase
plan&#148; under Section&nbsp;423 of the Code (each, a &#147;Section&nbsp;423 Offering&#148;); provided, however, that the Committee may also authorize the grant of Options in Offerings under the Plan that are not intended to comply with the
requirements of Section&nbsp;423 of the Code, pursuant to any rules, procedures, agreements, appendices, or <FONT STYLE="white-space:nowrap">sub-plans</FONT> adopted by the Committee for such purpose (each, a
<FONT STYLE="white-space:nowrap">&#147;Non-423</FONT> Offering&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_73"></A>1.&nbsp;&nbsp;&nbsp;&nbsp;<B>Definitions</B>. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Whenever any of the following terms is used in the Plan with the first letter or letters capitalized, it shall have the following meaning unless context
clearly indicates to the contrary (such definitions to be equally applicable to both the singular and the plural forms of the terms defined): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Account&#148; means the account established for a Participant under the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Affiliate&#148; means any entity, other than a Parent Corporation or a Subsidiary Corporation, that
directly or through one or more intermediaries is controlled by, or is under common control with, the Company, as determined by the Committee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Agent&#148; means the brokerage firm, bank or other financial institution, entity or person(s), if
any, engaged, retained, appointed or authorized to act as the agent of the Company or an Employee with regard to the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Applicable Law&#148; means the requirements relating to the administration of equity-based awards
under applicable corporate laws, United States federal and state securities laws, the Code, any stock exchange or quotation system on which the Stock is listed or quoted and the applicable laws of any foreign country or jurisdiction where Options
are, or will be, granted under the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(e)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Authorization&#148; means a Participant&#146;s payroll
deduction authorization or authorization for other Contributions with respect to an Offering Period provided by such Participant in accordance with Section&nbsp;3(d). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(f)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Board&#148; means the Board of Directors of the Company, as constituted from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(g)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Code&#148; means the Internal Revenue Code of 1986, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(h)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Committee&#148; means the committee of the Board appointed to administer the Plan pursuant to Section
12. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Company&#148; means ResMed Inc., a Delaware corporation, or any successor corporation or
entity. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">89 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(j)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Compensation&#148; of an Employee means all
compensation received by such Employee from the Company or any Designated Subsidiary on each Payday as compensation for services to the Company or any Designated Subsidiary, including all salary, wages (including amounts elected to be deferred by
the Employee, but would otherwise have been paid, under any cash or deferred arrangement established by the Company or a Designated Subsidiary), overtime pay, sales commissions, bonuses, and other remuneration paid directly to the Employee; but
excluding the cost of employee benefits paid by the Company or a Designated Subsidiary, education or tuition reimbursements, imputed income arising under any Company or Designated Subsidiary group insurance or benefit program, travel expenses,
business and moving reimbursements, income received in connection with stock options or other equity awards, contributions made by the Company or a Designated Subsidiary under any employee benefit plan, and similar items of compensation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(k)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Contributions&#148; means the amount of Compensation contributed by a Participant through payroll
deductions; provided, however, that &#147;Contributions&#148; may also include other payments that the Committee may permit a Participant to make to fund the exercise of Options to purchase shares of Stock under the Plan to the extent payroll
deductions are not permitted by Applicable Law, as determined by the Company in its sole discretion. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(l)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Date of Exercise&#148; of any Option means the date on which such Option is exercised, which shall be
the last Trading Day of the Offering Period with respect to which the Option was granted, in accordance with Section&nbsp;4(a) (except as provided in Section&nbsp;9). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(m)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Date of Grant&#148; of any Option means the date on which such Option is granted, which shall be the
first Trading Day of the Offering Period with respect to which the Option was granted, in accordance with Section&nbsp;3(e). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(n)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Designated Subsidiary&#148; means any Subsidiary Corporation designated by the Committee or the Board
in accordance with Section&nbsp;13. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(o)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Eligible Employee&#148; means an Employee who meets the
requirements for eligibility in accordance with Section&nbsp;3(a). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(p)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Employee&#148; means an
individual who renders services to the Company or a Designated Subsidiary in the status of an &#147;employee,&#148; within the meaning of Section&nbsp;3401(c) of the Code. For purposes of clarity, the term &#147;Employee&#148; will not include the
following, regardless of any subsequent reclassification as an employee by the Company or a Designated Subsidiary, any governmental agency, or any court: (i)&nbsp;any independent contractor; (ii)&nbsp;any consultant; (iii)&nbsp;any individual
performing services for the Company or a Designated Subsidiary under a purchase order, a supplier agreement or any other agreement that the Company or a Designated Subsidiary enters into for services; (iv)&nbsp;any individual classified by the
Company or a Designated Subsidiary as contract labor (such as contractors, contract employees, job shoppers), regardless of length of service; and (vi)&nbsp;any leased employee. The Committee will have exclusive discretion to determine whether an
individual is an Employee for purposes of the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(q)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Exchange Act&#148; means the Securities
Exchange Act of 1934, as amended. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(r)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Fair Market Value&#148; of a share of Stock as of a given date
means: (A)&nbsp;the closing price of a share of Stock on the principal exchange on which the Stock is then trading, if any, on such date (or, if shares of Stock were not traded on such date, then on the next preceding trading day during which a sale
occurred); (B) if the Stock is not traded on an exchange, but is quoted on Nasdaq or a successor quotation system, (1)&nbsp;the last sales price (if the Stock is then listed as a National Market Issue under the NASD National Market System), or
(2)&nbsp;the mean between the closing representative bid and asked prices (in all other cases) for a share of Stock on such date (or, if shares of Stock were not traded on such date, then on the next preceding trading day during which a sale
occurred) as reported by Nasdaq or such successor quotation system; (3)&nbsp;if the Stock is not publicly traded on an exchange and not quoted on Nasdaq or a successor quotation system, the mean between the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">90 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">closing bid and asked prices for a share of Stock on such date (or, if shares of Stock were not traded
on such date, then on the next preceding trading day during which a sale occurred), as determined in good faith by the Committee; or (4)&nbsp;if the Stock is not publicly traded, the fair market value of a share of Stock established by the Committee
acting in good faith. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(s)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Offering&#148; means a Section&nbsp;423 Offering or a <FONT
STYLE="white-space:nowrap">Non-423</FONT> Offering of an Option under the Plan during an Offering Period. Unless otherwise determined by the Committee, each Offering under the Plan in which Eligible Employees of one or more Designated Subsidiaries
may participate will be deemed a separate Offering for purposes of Section&nbsp;423 of the Code, even if the dates of the applicable Offering Periods of each such Offering are identical, and the provisions of the Plan will separately apply to each
Offering. With respect to Section&nbsp;423 Offerings, the terms of separate Offerings need not be identical provided that all Eligible Employees granted Options in a particular Offering will have the same rights and privileges, except as otherwise
may be permitted by Section&nbsp;423 of the Code; a <FONT STYLE="white-space:nowrap">Non-423</FONT> Offering need not satisfy such requirements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(t)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Offering Period&#148; means each period, the duration of which shall be set by the Committee, during
which Options are granted to Eligible Employees; provided, however, that the duration of any Offering Period can be no less than three months and no more than 27 months, and shall initially be six months. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(u)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Option&#148; means an option to purchase shares of Stock granted under the Plan to a Participant in
accordance with Section&nbsp;3(e). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(v)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Option Price&#148; means the purchase price per share of Stock
determined in accordance with Section&nbsp;4(b). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(w)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Parent Corporation&#148; means any corporation,
other than the Company, in an unbroken chain of corporations ending with the Company if, at the time of the granting of the Option, each of the corporations other than the Company directly or indirectly owns stock possessing 50% or more of the total
combined voting power of all classes of stock in one of the other corporations in such chain. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(x)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Participant&#148; means an Eligible Employee who has elected to participate in the Plan, in accordance
with the provisions of Section&nbsp;3(d). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(y)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Payday&#148; means the regular and recurring
established day for payment of Compensation to an Employee of the Company or any Designated Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(z)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Plan&#148; means the ResMed Inc. 2018 Employee Stock Purchase Plan, as amended and/or restated from
time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(aa)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Stock&#148; means the shares of the Company&#146;s Common stock, $.004 par value
per share. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(bb)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Subsidiary Corporation&#148; means any entity that is a subsidiary corporation of the
Company within the meaning of Section&nbsp;423 of the Code and the regulations promulgated thereunder. In addition, solely with respect to <FONT STYLE="white-space:nowrap">Non-423</FONT> Offerings under the Plan, Subsidiary Corporation shall include
any corporate or noncorporate entity in which the Company has a direct or indirect equity interest or significant business relationship. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><FONT STYLE="white-space:nowrap">(cc)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Tax-Related</FONT> Items&#148; means any income tax, social
insurance, payroll tax, fringe benefit tax, payment on account or other <FONT STYLE="white-space:nowrap">tax-related</FONT> items arising in relation to a Participant&#146;s participation in the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(dd)&nbsp;&nbsp;&nbsp;&nbsp;&#147;Trading Day&#148; means a day on which the New York Stock Exchange is open for trading. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">91 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_74"></A>2.&nbsp;&nbsp;&nbsp;&nbsp;<B>Stock Subject to the Plan</B>.
</P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Subject to the provisions of Section&nbsp;9 hereof (relating to adjustments upon changes in the Stock) and Section&nbsp;11 hereof
(relating to amendments of the Plan), the Stock that may be sold pursuant to Options granted under the Plan shall not exceed in the aggregate 6,200,000 shares of Stock.<SUP STYLE="font-size:85%; vertical-align:top">1</SUP> The shares of Stock sold
pursuant to Options granted under the Plan may be unissued shares or treasury shares of Stock, or shares reacquired in private transactions or open market purchases. If and to the extent that any right to purchase reserved shares shall not be
exercised by any Participant for any reason, or if such right to purchase shall terminate as provided herein, shares that have not been so purchased hereunder shall again become available for the purposes of this Plan, unless this Plan shall have
been terminated, but all shares sold under this Plan, regardless of source, shall be counted against the limitation set forth above. For avoidance of doubt, up to the maximum number of shares of Stock reserved under this Section&nbsp;2&nbsp;may be
used to satisfy purchases of Stock under Section&nbsp;423 Offerings and any remaining portion of such maximum number of Stock may be used to satisfy purchases of Stock under <FONT STYLE="white-space:nowrap">Non-423</FONT> Offerings. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_75"></A>3.&nbsp;&nbsp;&nbsp;&nbsp;<B>Eligibility and Grant of Options</B>. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Eligibility</U>. Each Employee of the Company or any Designated Subsidiary as of the commencement of an
Offering Period will be eligible to participate in the Plan, subject to the requirements of this Section&nbsp;3. Notwithstanding the foregoing, the Committee may determine in its discretion, and if so determines, shall set forth in the terms of the
applicable Offering, that an Employee of the Company or any Designated Subsidiary shall be eligible to participate in such Offering Period, unless, as of the first day of such Offering Period: (1)&nbsp;such Employee has been in the employ of the
Company or any Designated Subsidiary for less than two years; (2)&nbsp;such Employee&#146;s customary employment with the Company or any Designated Subsidiary is twenty hours or less per week and/or less than five months per calendar year;
(3)&nbsp;such Employee is a &#147;highly compensated employee&#148; of the Company or any Designated Subsidiary (within the meaning of Section&nbsp;414(q) of the Code); and/or (4)&nbsp;such employee is a citizen or resident of a jurisdiction other
than the United States (without regard to whether such individual also is a citizen or resident of the United States or is a resident alien (within the meaning of Section&nbsp;7701(b)(1)(A) of the Code)) and the grant of an Option under the Plan is
prohibited under the Applicable Laws of such jurisdiction, or compliance with the Applicable Laws of such jurisdiction would cause the Plan to violate the requirements of Section&nbsp;423 of the Code; <I>provided</I>, that any exclusion in clauses
(1), (2), (3) and (4)&nbsp;shall be applied in an identical manner to all employees of the Company and all Designated Subsidiaries whose employees are granted Options in Section&nbsp;423 Offerings under the Plan, in accordance with Treasury
Regulation <FONT STYLE="white-space:nowrap">Section&nbsp;1.423-2(e).</FONT> Furthermore, in the case of a <FONT STYLE="white-space:nowrap">Non-423</FONT> Offering, an Eligible Employee (or group of Eligible Employees) may be excluded from
participation in the Offering if the Committee has determined, in its sole discretion, that participation of such Eligible Employee(s) is not advisable or practicable for any reason. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>$25,000 Limitation</U>. No Participant shall be granted an Option under the Plan which permits his rights
to purchase shares of Stock under the Plan, together with other options to purchase shares of Stock or other stock under all other employee stock purchase plans of the Company, any Parent Corporation or any Subsidiary Corporation subject to the
Section&nbsp;423, to accrue at a rate which exceeds $25,000 of fair market value of such shares of Stock or other stock (determined at the time the Option or other option is granted) for </P>
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<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="justify">1 The Plan was initially approved with an aggregate of 3,250,000 shares of Stock that were issuable under the Plan, which number of shares was
subsequently adjusted to 6,500,000 shares due to a September 2005 stock split of the Company&#146;s Stock. In September 2007, the Board approved a reduction in the number of shares of Stock issuable under the Plan, from 6,500,000 to 500,000. An
amendment to the Plan dated September&nbsp;30, 2009, increased the number of shares by 600,000, for a total of 1,100,000. That total number of shares was adjusted to 2,200,000 due to an October 2012 stock split. An August 2012 amendment increased
the number of shares by 2,000,000, to a total of 4,200,000. On August&nbsp;17, 2018, the Board amended the Plan to increase the number of shares of Stock issuable under the Plan by 2,000,000, to a total of 6,200,000, subject to stockholder approval.
</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">each calendar year in which the Option is outstanding. For purpose of the limitation imposed by this
subsection, (1)&nbsp;the right to purchase shares of Stock or other stock under an Option or other option accrues when the Option or other option (or any portion thereof) first becomes exercisable during the calendar year, (2)&nbsp;the right to
purchase shares of Stock or other stock under an Option or other option accrues at the rate provided in the Option or other option, but in no case may such rate exceed $25,000 of the fair market value of such Stock or other stock (determined at the
time such Option or other option is granted) for any one calendar year, and (3)&nbsp;a right to purchase Stock or other stock which has accrued under an Option or other option may not be carried over to any other Option or other option. This
limitation shall be applied in accordance with Section&nbsp;423(b)(8) of the Code and the Treasury Regulations thereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>5 Percent Holders</U>. No Employee will be granted an Option under the Plan if immediately after the
grant, such Employee (or any other person whose stock would be attributed to such Employee pursuant to Section&nbsp;424(d) of the Code) would own stock and/or hold outstanding options to purchase stock possessing five percent or more of the total
combined voting power or value of all classes of stock of the Company or of any Subsidiary Corporation or Parent Corporation. For purposes of the foregoing, the rules of Section&nbsp;424(d) of the Code with regard to the attribution of stock
ownership shall apply in determining the stock ownership of an individual, and stock which an Employee may purchase under outstanding options shall be treated as stock owned by the Employee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;<U>Election to Participate</U>. An Eligible Employee may elect to participate in an Offering Period by
delivering to the Company (or an Agent) a completed and executed written authorization in a form approved by the Company (the &#147;Authorization&#148;) within the time determined by the Company and set forth in the terms of such Offering Period.
Each Participant&#146;s Authorization shall give notice of such Participant&#146;s election to participate in the Plan for such Offering Period (and subsequent Offering Periods) and shall designate a whole percentage of such Participant&#146;s
Compensation to be contributed by such Participant on each Payday during the Offering Period. A Participant may designate any whole percentage of Compensation that is not less than one percent and not more than a maximum percentage determined by the
Committee (which maximum percentage shall be fifty percent in the absence of such determination). A Participant&#146;s Compensation payable during an Offering Period shall be reduced each Payday through Contributions in an amount equal to the
percentage specified in the Authorization, and such amount shall be credited to such Participant&#146;s Account under the Plan. A Participant may increase or decrease the percentage of Compensation designated in the Authorization, subject to the
limits of this subsection (d), or may suspend the Authorization, only as provided by the Committee with respect to such Offering Period and set forth in the terms of such Offering Period. Any Authorization shall remain in effect for each subsequent
Offering Period, unless the Participant submits a new Authorization pursuant to this subsection (d), withdraws from the Plan pursuant to Section&nbsp;5, ceases to be an Eligible Employee as defined in Section&nbsp;1(o) or terminates employment as
provided in Section&nbsp;6(a). Notwithstanding the foregoing, to the extent necessary to comply with Section&nbsp;423(b)(8) of the Code and Sections 3(b), (c) and (e)&nbsp;of the Plan, the Company may reduce a Participant&#146;s rate of
Contributions to zero at such time during any Offering Period. Contributions will recommence at the rate provided by the Participant in his or her Authorization to the extent such Contributions may be applied to purchase shares of Stock in
accordance with Section&nbsp;423(b)(8) of the Code and Sections 3(b), (c) and (e)&nbsp;of the Plan, unless terminated by the Participant as provided in Section&nbsp;5 of the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(e)&nbsp;&nbsp;&nbsp;&nbsp;<U>Option Grants</U>. The Company shall grant Options under the Plan to all Eligible Employees in successive
Offering Periods until the earlier of: (1)&nbsp;the date on which the number of shares of Stock available under the Plan have been sold, or (2)&nbsp;the date on which the Plan is suspended or terminates. Each Participant shall be granted an Option
with respect to an Offering Period on the Date of Grant for that Offering Period. Each Option shall expire on the Date of Exercise for such Offering Period immediately after the automatic exercise of the Option in accordance with Section&nbsp;4(a),
unless such Option terminates earlier in accordance with Section&nbsp;5, 6 or 9. The number of shares of Stock subject to a Participant&#146;s Option shall equal the cumulative Contributions made by such Participant in accordance with subsection
(d)&nbsp;for the Offering Period (if any), divided by the Option Price for the Option; provided, however, that the number of shares of Stock subject to such Option shall not </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">exceed the number determined in accordance with Section&nbsp;3(b). In connection with each Offering
Period made under the Plan, the Committee shall also specify a maximum number of shares of Stock that may be purchased by any Employee pursuant to such Offering Period (which maximum shall be 5,000 shares of Stock per Offering in the absence of such
determination). The Company shall not grant an Option with respect to an Offering Period to any Employee who is not an Eligible Employee on the first day of such Offering Period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL"><A NAME="tx612931_76"></A>4.&nbsp;&nbsp;&nbsp;&nbsp;<B>Exercise of Options; Option Price</B>. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Option Exercise</U>. Each Participant automatically shall be deemed to have exercised such
Participant&#146;s Option on the Date of Exercise for an Offering Period to the extent that the balance then in the Participant&#146;s Account is sufficient to purchase, at the Option Price for such Option, shares of the Stock subject to the Option,
provided, however, that any balance that is insufficient to purchase one share of Stock shall be carried over to the next Offering Period and shall remain credited to Participant. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Option Price Defined</U>. The purchase price per share of Stock (the &#147;Option Price&#148;) to be paid
by a Participant upon the exercise of the Participant&#146;s Option on the Date of Exercise for an Offering Period shall be equal to 85% of the lesser of: (1)&nbsp;the Fair Market Value of a share of Stock on the Date of Exercise for such Offering
Period and (2)&nbsp;the Fair Market Value of a share of Stock on the Date of Grant for such Offering Period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Book Entry/Share Certificates</U>. As soon as practicable after the purchase of shares of Stock upon the
exercise of an Option by a Participant on the Date of Exercise for an Offering Period and subject to Section&nbsp;17, the Company shall issue the shares of Stock to such Participant and such shares shall be held in the custody of the Company, or if
applicable, the Agent, for the benefit of the Participant. The Company or the Agent shall make an entry on its books and records indicating that the shares of Stock purchased in connection with such exercise have been duly issued as of that date to
such Participant. A Participant shall have the right at any time to request in writing a certificate or certificates for all or a portion of the whole shares of Stock purchased hereunder. Following receipt of a Participant&#146;s written request for
any such certificate and subject to Section&nbsp;17, the Company shall (or shall cause the Agent to) deliver any such certificate to the Participant. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;<U>Pro Rata Allocations</U>. If the total number of shares of Stock for which Options are to be exercised on
any date exceeds the number of shares of Stock remaining unsold under the Plan (after deduction for all shares of Stock for which Options have theretofore been exercised), the Committee shall make a pro rata allocation of the available remaining
shares of Stock in as nearly a uniform manner as shall be practicable and the balance of the amount credited to the Account of each Participant which has not been applied to the purchase of shares of Stock shall be paid to such Participant in one
lump sum in cash within thirty days after the Date of Exercise, without any interest thereon. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(e)&nbsp;&nbsp;&nbsp;&nbsp;<U>Information Statement</U>. The Company shall provide each Participant whose Option is exercised with an
information statement in accordance with Section&nbsp;6039(a) of the Code and the Treasury Regulations thereunder. The Company shall maintain a procedure for identifying certificates of shares of Stock sold upon the exercise of Options in accordance
with Section&nbsp;6039(b) of the Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL"><A NAME="tx612931_77"></A>5.&nbsp;&nbsp;&nbsp;&nbsp;<B>Withdrawal from the Plan</B>. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Withdrawal Election</U>. A Participant may withdraw from participation in an Offering Period at any time,
except as otherwise determined by Committee and set forth in the terms of the applicable Offering. A Participant electing to withdraw from the Plan must deliver to the Company (or an Agent) a notice of withdrawal in a form approved by the Committee
(the &#147;Withdrawal Election&#148;), not later than five business days before the Date of Exercise for such Offering Period, except as otherwise determined by Committee and set forth in the terms of the applicable Offering. Upon receipt of a
Participant&#146;s Withdrawal Election, the Company or Subsidiary Corporation employing the Participant shall pay to the Participant the amount credited to the Participant&#146;s </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Account in one lump sum payment in cash, without any interest thereon (unless otherwise required by
Applicable Law). Subject to Section&nbsp;17, upon the Participant&#146;s request, or at the election of the Company, following such withdrawal the Company shall (or shall cause the Agent to) deliver to the Participant certificates for any whole
shares of Stock previously purchased by the Participant and credited to Participant through book entry under Section&nbsp;4(c), as promptly as practicable following such Participant&#146;s withdrawal. Upon receipt of a Participant&#146;s Withdrawal
Election by the Company (or an Agent), the Participant shall cease to participate in the Plan and the Participant&#146;s Option for such Offering Period shall terminate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Eligibility following Withdrawal</U>. A Participant who withdraws from the Plan with respect to an
Offering Period, and who is still an Eligible Employee, may elect to participate again in the Plan for any subsequent Offering Period by delivering to the Company (or an Agent) an Authorization pursuant to Section&nbsp;3(d). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL"><A NAME="tx612931_78"></A>6.&nbsp;&nbsp;&nbsp;&nbsp;<B>Termination of Employment</B>. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>General</U>. If the employment of a Participant with the Company or a Designated Subsidiary terminates
for any reason, other than by reason of the Participant&#146;s death, the Participant&#146;s participation in the Plan automatically shall terminate as of the date of the termination of the Participant&#146;s employment, unless otherwise required by
Applicable Law. In the event of a Participant&#146;s death, the Option may be exercised by the Participant&#146;s estate if the Option is transferred by will or the laws of descent and distribution, in accordance with Section&nbsp;7, and after such
exercise, the Participant&#146;s participation in the Plan shall terminate. If the Participant&#146;s Option is not transferred to the Participant&#146;s estate by will or the laws of descent and distribution, then Participant&#146;s participation
in the Plan shall terminate as of the date of Participant&#146;s death. As soon as practicable after the termination of the Participant&#146;s participation in the Plan, the Company or Designated Subsidiary employing the Participant shall pay to the
Participant (or the Participant&#146;s estate, if applicable) the amount credited to the Participant&#146;s Account in one lump sum payment in cash, if applicable, without any interest thereon (unless otherwise required by Applicable Law), and
subject to Section&nbsp;17, the Company shall (or shall cause the Agent to) deliver to the Participant (or the Participant&#146;s estate, if applicable) certificates for any whole shares of Stock purchased by the Participant, if applicable. On a
Participant&#146;s termination of employment or death covered by this subsection, the Participant&#146;s Authorization and Option under the Plan shall terminate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Leave of Absence</U>. Subject to the discretion of the Committee, if a Participant is granted a paid
leave of absence, payroll deductions on behalf of the Participant will continue and any amounts credited to the Participant&#146;s Account may be used to purchase shares of Stock as provided under the Plan. If a Participant is granted an unpaid
leave of absence, payroll deductions on behalf of the Participant will be discontinued and no other Contributions will be permitted (unless otherwise determined by the Committee or required by Applicable Law), but any amounts then credited to the
Participant&#146;s Account may be used to purchase shares of Stock on the next applicable Date of Exercise. Notwithstanding anything in this subsection (b)&nbsp;to the contrary, where a Participant&#146;s period of leave exceeds three months and the
Participant&#146;s right to reemployment is not guaranteed by statute or by contract, for purposes of the Plan, the Participant&#146;s employment relationship will be deemed to have terminated three months and one day following the commencement of
such leave. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Transfer of Employment</U>. Unless otherwise determined by the Committee, a Participant
whose employment transfers or whose employment terminates with an immediate rehire (with no break in service) by or between the Company or a Designated Subsidiary will not be treated as having terminated employment for purposes of participating in
the Plan or an Offering; however, if a Participant transfers from a Section&nbsp;423 Offering to a <FONT STYLE="white-space:nowrap">Non-423</FONT> Offering, the exercise of the Participant&#146;s Option will be qualified under the Section&nbsp;423
Offering only to the extent that such exercise complies with Section&nbsp;423 of the Code. If a Participant transfers from a <FONT STYLE="white-space:nowrap">Non-423</FONT> Offering to a Section&nbsp;423 Offering, the exercise of the
Participant&#146;s Option will remain <FONT STYLE="white-space:nowrap">non-qualified</FONT> under the <FONT STYLE="white-space:nowrap">Non-423</FONT> Offering.<B></B> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">95 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_79"></A>7.&nbsp;&nbsp;&nbsp;&nbsp;<B>Restriction upon
Assignment</B>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">An Option granted under the Plan shall not be transferable, other than by will or the laws of descent and
distribution, and is exercisable during the Participant&#146;s lifetime only by the Participant. Other than the transfer of an Option by will or the laws or descent and distribution, the Company shall not recognize and shall be under no duty to
recognize any assignment or alienation of the Participant&#146;s interest in the Plan, the Participant&#146;s Option or any rights under the Participant&#146;s Option. But, in the event of the death of a Participant, the Company may recognize the
transfers of an Option granted under the Plan or the right to apply pursuant to the operation of a will or the laws of descent or distribution. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_80"></A>8.&nbsp;&nbsp;&nbsp;&nbsp;<B>No Rights of Stockholders until Shares Issued</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">With respect to shares of Stock subject to an Option, a Participant shall not be deemed to be a stockholder of the Company, and the
Participant shall not have any of the rights or privileges of a stockholder, until such shares have been issued to the Participant following exercise of the Participant&#146;s Option. No adjustments shall be made for dividends (ordinary or
extraordinary, whether in cash securities, or other property) or distribution or other rights for which the record date occurs before the date of such issuance, except as otherwise expressly provided herein or by the Committee. </P>
<P STYLE="margin-top:1pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_81"></A>9.&nbsp;&nbsp;&nbsp;&nbsp;<B>Changes in the Stock and Corporate Events; Adjustment of Options</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section&nbsp;9(c), in the event that the Committee, in its sole discretion, determines that any
dividend or other distribution (whether in the form of cash, Stock, other securities, or other property), recapitalization, reclassification, stock split, reverse stock split, reorganization, merger, consolidation,
<FONT STYLE="white-space:nowrap">split-up,</FONT> <FONT STYLE="white-space:nowrap">spin-off,</FONT> combination, repurchase, liquidation, dissolution, or sale, transfer, exchange or other disposition of all or substantially all of the assets of the
Company, or exchange of Stock or other securities of the Company, issuance of warrants or other rights to purchase Stock or other securities of the Company, or other similar corporate transaction or event, affects the Stock such that an adjustment
is appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan or with respect to an Option, then the Committee shall, in such manner as it may deem equitable, adjust any
or all of: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:23%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;the number and kind of shares of Stock (or other securities or property) with respect to
which Options may be granted (including, but not limited to, adjustments of the limitations in Section&nbsp;2 and Section&nbsp;3(e) on the maximum number of shares of Stock which may be purchased under the Plan or in an Offering Period), </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:23%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;the number and kind of shares of Stock (or other securities or property) subject to outstanding Options, and
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:23%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(3)&nbsp;&nbsp;&nbsp;&nbsp;the Option Price with respect to any Option. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section&nbsp;9(c), in the event of any transaction or event described in Section&nbsp;9(a) or any
unusual or nonrecurring transactions or events affecting the Company, any Subsidiary of the Company, or the financial statements of the Company or any Subsidiary, or of changes in Applicable Laws, regulations, or accounting principles, the
Committee, in its sole discretion, and on such terms and conditions as it deems appropriate, either by the terms of the Option or by action taken before the occurrence of such transaction or event and either automatically or upon the
Participant&#146;s request, is hereby authorized to take any one or more of the following actions whenever the Committee determines that such action is appropriate in order to prevent dilution or enlargement of the benefits or potential benefits
intended to be made available under the Plan or with respect to any Option under the Plan, to facilitate such transactions or events or to give effect to such changes in laws, regulations or principles: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:23%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;To provide that all Options outstanding shall terminate without being exercised on such date as the
Committee determines in its sole discretion; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">96 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:23%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;To provide that all Options outstanding shall be exercised
before the Date of Exercise of such Options on such date as the Committee determines in its sole discretion and such Options shall terminate immediately after such exercises; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:23%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(3)&nbsp;&nbsp;&nbsp;&nbsp;To provide for either the purchase of any Option outstanding for an amount of cash equal to the amount that
could have been obtained upon the exercise of such Option had such Option been currently exercisable and shares issued thereunder sold, or the replacement of such Option with other rights or property selected by the Committee in its sole discretion;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:23%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(4)&nbsp;&nbsp;&nbsp;&nbsp;To provide that such Option be assumed by the successor or survivor corporation, or a parent or
subsidiary thereof, or shall be substituted for by similar options, covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and prices; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:23%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(5)&nbsp;&nbsp;&nbsp;&nbsp;To make adjustments in the number and type of shares of Stock (or other securities or property) subject to
outstanding Options, or in the terms and conditions of outstanding Options, or Options which may be granted in the future. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;No adjustment or action described in this Section&nbsp;9 or in any other provision of the Plan shall be
authorized to the extent that such adjustment or action would cause the Plan to fail to satisfy the requirements of Section&nbsp;423 of the Code. Furthermore, no such adjustment or action shall be authorized to the extent such adjustment or action
would result in short-swing profits liability under Section&nbsp;16 of the Exchange Act, or violate the exemptive conditions of Rule I <FONT STYLE="white-space:nowrap">6b-3</FONT> unless the Committee determines that the Option is not to comply with
such exemptive conditions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;The existence of the Plan and the Options granted hereunder shall not affect
or restrict in any way the right or power of the Company or the stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization or other change in the Company&#146;s capital structure or its business, any merger or
consolidation of the Company, any issue of stock or of options, warrants or rights to purchase stock or of bonds, debentures, preferred or prior preference stocks whose rights are superior to or affect the Stock or the rights thereof of which are
convertible into or exchangeable for Stock, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or
otherwise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_82"></A>10.&nbsp;&nbsp;&nbsp;&nbsp;<B>Use of Funds; No Interest Paid</B>. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">All funds received or held by the Company under the Plan shall be included in the general funds of the Company free of any trust or
other restriction and may be used for any corporate purpose, unless otherwise required by Applicable Law. No interest will be paid to any Participant or credited to any Participant&#146;s Account with respect to such funds, unless otherwise required
by Applicable Law. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL"><A NAME="tx612931_83"></A>11.&nbsp;&nbsp;&nbsp;&nbsp;<B>Amendment, Suspension or Termination of the
Plan</B>. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;The Board or the Committee may amend, suspend, or terminate the Plan at any time and from
time to time, provided that approval by the Company&#146;s stockholders shall be required to amend the Plan: (1)&nbsp;to increase (other than an increase pursuant to Section&nbsp;9(a)) the number of shares of Stock that may be sold pursuant to
Options under the Plan, or (2)&nbsp;in any manner that would cause the Plan to no longer be an &#147;employee stock purchase plan&#148; within the meaning of Section&nbsp;423(b) of the Code for purposes of Section&nbsp;423 Offerings hereunder.
Without stockholder consent and without regard to whether any Participant rights may be considered to have been &#147;adversely affected,&#148; the Board or the Committee, as applicable, shall be entitled to change the Offering Periods, limit the
frequency and/or number of changes in the amount withheld during an Offering Period, establish the exchange ratio applicable to amounts withheld in a currency other than U.S. dollars, permit payroll withholding in excess of the amount designated by
a Participant in order to adjust for delays or mistakes in the Company&#146;s processing of properly completed withholding elections, establish reasonable waiting and adjustment periods and/or accounting and crediting procedures to ensure that
amounts applied toward the purchase of Stock for each Participant properly correspond with amounts contributed by the Participant, and establish such other limitations or procedures as the Board or the Committee, as applicable, determines in its
sole discretion advisable which are consistent with the Plan and Section&nbsp;423 of the Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;In the
event the Board or the Committee, as applicable, determines that the ongoing operation of the Plan may result in unfavorable financial accounting consequences, the Board or the Committee, as applicable, may, in its discretion and, to the extent
necessary or desirable, modify or amend the Plan to reduce or eliminate such accounting consequence including, but not limited to: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:23%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;altering, but not reducing, the Option Price for any Offering Period including an Offering Period underway
at the time of the change in Offering Price; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:23%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;shortening any Offering Period so that the Offering Period
ends on a new Exercise Date, including an Offering Period underway at the time of such action; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:23%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(3)&nbsp;&nbsp;&nbsp;&nbsp;allocating shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">Such modifications or amendments shall not require stockholder approval or the consent of any Plan participants. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL"><A NAME="tx612931_84"></A>12.&nbsp;&nbsp;&nbsp;&nbsp;<B>Administration by Committee; Rules and Regulations</B>. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Appointment of Committee</U>. The Plan shall be administered by the Committee, which shall be composed of
members of the Board. Each member of the Committee shall serve for a term commencing on a date specified by the Board and continuing until the member dies, resigns or is removed from office by the Board. The Committee at its option may utilize the
services of an Agent and/or employees of the Company to assist in the administration of the Plan, including establishing and maintaining an individual securities account under the Plan for each Participant. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Duties and Powers of Committee</U>. It shall be the duty of the Committee to conduct the general
administration of the Plan in accordance with the provisions of the Plan. The Committee shall have the power, subject to, and within the limitations of, the express provisions of the Plan: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:23%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;To determine when and how Options shall be granted and the provisions and terms of each Offering Period
(which need not be identical), </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:23%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;To select Designated Subsidiaries in accordance with Section&nbsp;13.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">98 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:23%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(3)&nbsp;&nbsp;&nbsp;&nbsp;To construe and interpret the Plan and the terms of the
Options and to adopt such rules for the administration, interpretation, and application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules. The Committee, in the exercise of this power, may correct any defect,
omission or inconsistency in the Plan, in a manner and to the extent it shall deem necessary or expedient to make the Plan fully effect, subject to Section&nbsp;423 of the Code and the regulations promulgated thereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:23%; font-size:10pt; font-family:ARIAL" ALIGN="justify">In its absolute discretion, the Board may at any time and from time to time exercise any and all rights and duties of the Committee
under the Plan. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Non U.S. <FONT STYLE="white-space:nowrap">Sub-Plans</FONT></U>. The Committee may
adopt rules, procedures, agreements, appendices, or <FONT STYLE="white-space:nowrap">sub-plans</FONT> (collectively, <FONT STYLE="white-space:nowrap">&#147;Sub-Plans&#148;)</FONT> applicable to particular Designated Subsidiaries or locations
relating to the operation and administration of the Plan to accommodate the specific requirements of local laws, customs and procedures for jurisdictions outside of the United States. The rules of such
<FONT STYLE="white-space:nowrap">Sub-Plans</FONT> may take precedence over other provisions of this Plan, with the exception of Section&nbsp;2 above, but unless otherwise superseded by the terms of such
<FONT STYLE="white-space:nowrap">Sub-Plan,</FONT> the provisions of this Plan shall govern the operation of such <FONT STYLE="white-space:nowrap">Sub-Plan.</FONT> To the extent inconsistent with the requirements of Section&nbsp;423 of the Code, any
such <FONT STYLE="white-space:nowrap">Sub-Plan</FONT> will be considered part of a <FONT STYLE="white-space:nowrap">Non-423</FONT> Offering, and Options granted thereunder will not be required by the terms of the Plan to comply with Section&nbsp;423
of the Code. Without limiting the generality of the foregoing, the Committee may adopt <FONT STYLE="white-space:nowrap">Sub-Plans</FONT> relating to the operation and administration of the Plan to accommodate the specific requirements of Applicable
Laws, customs and procedures regarding (i)&nbsp;eligibility to participate, (ii)&nbsp;the definition of Compensation, (iii)&nbsp;the dates and duration of Offering Periods or other periods during which Participants may make Contributions towards the
purchase of shares of Stock, (iv)&nbsp;the method of determining the Option Price and the discount from Fair Market Value at which shares of Stock may be purchased, (v)&nbsp;any minimum or maximum amount of Contributions a Participant may make in an
Offering Period or other specified period under any applicable <FONT STYLE="white-space:nowrap">Sub-Plan,</FONT> (vi)&nbsp;the handling of payroll deductions, (vii)&nbsp;establishment of bank, building society or trust accounts to hold
Contributions, (viii)&nbsp;payment of interest, (ix)&nbsp;conversion of local currency, (x)&nbsp;obligations to pay payroll tax, (xi)&nbsp;determination of beneficiary designation requirements, (xii)&nbsp;withholding procedures and
(xiii)&nbsp;handling of share issuances. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;<U>Compensation; Professional Assistance; Good Faith
Actions</U>. All expenses and liabilities incurred by members of the Committee in connection with the administration of the Plan shall be borne by the Company. The Committee may employ attorneys, consultants, accountants, appraisers, brokers or
other persons. The Committee, the Company and its officers and directors shall be entitled to rely upon the advice, opinions or valuations of any such persons. All actions taken and all interpretations and determinations made by the Committee in
good faith shall be final and binding upon all Participants, the Company and all other interested persons. No member of the Committee shall be personally liable for any action, determination or interpretation made in good faith with respect to the
Plan or the Options, and all members of the Committee shall be fully protected by the Company in respect to any such action, determination, or interpretation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(e)&nbsp;&nbsp;&nbsp;&nbsp;<U>Delegation of Authority</U>. To the extent not prohibited by Applicable Law, the Committee may, from time
to time, delegate some or all of its authority under the Plan to a subcommittee or subcommittees of the Committee, officers of the Company or other persons or groups of persons as it deems necessary, appropriate or advisable under conditions or
limitations that it may set at or after the time of the delegation. For purposes of the Plan, reference to the Committee will be deemed to refer to any subcommittee, subcommittees, officers of the Company or other persons or groups of persons to
whom the Committee delegates authority pursuant to this Section&nbsp;12(e). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL"><A NAME="tx612931_85"></A>13.&nbsp;&nbsp;&nbsp;&nbsp;<B>Designation of
Subsidiary Corporations</B>. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">The Board or the Committee shall designate from among the Subsidiary Corporations, as determined from
time to time, the Subsidiary Corporation or Subsidiary Corporations whose Employees shall be eligible to be granted Options in either a Section&nbsp;423 Offering or <FONT STYLE="white-space:nowrap">Non-423</FONT> Offering under the Plan. The Board
or the Committee may designate a Subsidiary Corporation, or terminate the designation of a Subsidiary Corporation, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">99 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="justify">without the approval of the stockholders of the Company. The Board or the Committee may also terminate
participation of an Affiliate in the Plan, provided, however, that if such termination of an Affiliate would cause the Plan or an Offering made under the Plan to violate Section&nbsp;423 of the Code, the termination may be made only if the Affiliate
participates in a <FONT STYLE="white-space:nowrap">Non-423</FONT> Offering under the Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_86"></A>14.&nbsp;&nbsp;&nbsp;&nbsp;<B>No Rights as an Employee</B>. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Nothing in the Plan shall be construed to give any person (including any Participant) the right to remain in the employ of the Company,
a Parent Corporation, a Subsidiary Corporation or an Affiliate or to affect the right of the Company, any Parent Corporation, any Subsidiary Corporation or any Affiliate to terminate the employment of any person (including any Participant) at any
time, with or without cause, which right is expressly reserved. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_87"></A>15.&nbsp;&nbsp;&nbsp;&nbsp;<B>Term;
Approval by Stockholders</B>. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Subject to approval by the stockholders of the Company in accordance with this Section, the Plan
shall be in effect until November&nbsp;15, 2028, unless sooner terminated in accordance with Section&nbsp;11. No Option may be granted during any period of suspension of the Plan or after termination of the Plan. The Plan shall be submitted for the
approval of the Company&#146;s stockholders within twelve months after the date of the adoption of the Plan by the Board. Options may be granted before such stockholder approval; provided, however, that such Options shall not be exercisable before
the time when the Plan is approved by the Company&#146;s stockholders; and, provided, further, that if such approval has not been obtained by the end of said <FONT STYLE="white-space:nowrap">12-month</FONT> period, all Options previously granted
under the Plan shall thereupon terminate without being exercised. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_88"></A>16.&nbsp;&nbsp;&nbsp;&nbsp;<B>Effect
upon Other Plans</B>. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">The adoption of the Plan shall not affect any other compensation or incentive plans in effect for the
Company, any Parent Corporation, any Subsidiary Corporation or any Affiliate. Nothing in this Plan shall be construed to limit the right of the Company, any Parent Corporation, any Subsidiary Corporation or any Affiliate to: (a)&nbsp;establish any
other forms of incentives or compensation for employees of the Company, any Parent Corporation, any Subsidiary Corporation or any Affiliate, or (b)&nbsp;grant or assume options otherwise than under the Plan in connection with any proper corporate
purpose, including, but not by way of limitation, the grant or assumption of options in connection with the acquisition, by purchase, lease, merger, consolidation or otherwise, of the business, stock or assets of any corporation, firm or
association. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_89"></A>17.&nbsp;&nbsp;&nbsp;&nbsp;<B>Conditions to Issuance of Stock Certificates</B>. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">The Company shall not be required to issue or deliver any certificate or certificates for shares of Stock purchased upon the exercise of
Options before fulfillment of all the following conditions: </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;The admission of such shares to listing on
all stock exchanges, if any, on which is then listed; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;The completion of any registration or other
qualification of such shares under any state or federal law or under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory body, which the Committee shall, in its absolute discretion, deem
necessary or advisable; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;The obtaining of any approval or other clearance from any state or federal
governmental agency which the Committee shall, in its absolute discretion, determine to be necessary or advisable; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;The payment to the Company of all <FONT STYLE="white-space:nowrap">Tax-Related</FONT> Items which it is
required to withhold under Applicable Law in relation to the Participant&#146;s participation in the Plan; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:15%; font-size:10pt; font-family:ARIAL" ALIGN="justify">(e)&nbsp;&nbsp;&nbsp;&nbsp;The lapse of such reasonable period of time following the exercise of the Option as the Committee may from
time to time establish for reasons of administrative convenience. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">100 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_90"></A>18.&nbsp;&nbsp;&nbsp;&nbsp;<B>Notification of
Disposition</B>. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Each Participant who is subject to taxation in the United States shall give prompt notice to the Company of any
disposition or other transfer of any shares of Stock purchased upon exercise of an Option if such disposition or transfer is made: (a)&nbsp;within two years from the Date of Grant of the Option, or (b)&nbsp;within one year after the transfer of such
shares of Stock to such Participant upon exercise of such Option. Such notice shall specify the date of such disposition or other transfer and the amount realized, in cash, other property, assumption of indebtedness or other consideration, by the
Participant in such disposition or other transfer. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_91"></A>19.&nbsp;&nbsp;&nbsp;&nbsp;<B>Notices.</B> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Any notice to be given under the terms of the Plan to the Company shall be addressed to the Company in care of its Secretary and any
notice to be given to any Participant shall be addressed to such Participant at such Participant&#146;s last address as reflected in the Company&#146;s records. By a notice given pursuant to this Section, either party may designate a different
address for notices to be given to it, him or her. Any notice which is required to be given to a Participant shall, if the Participant is then deceased, be given to the Participant&#146;s personal representative if such representative has previously
informed the Company of his status and address by written notice under this Section. Any notice shall have been deemed duly given if provided through an electronic means such as email or facsimile or if enclosed in a properly sealed envelope or
wrapper addressed as aforesaid at the time it is deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_92"></A>20.&nbsp;&nbsp;&nbsp;&nbsp;<B>Additional Restrictions of Rule
<FONT STYLE="white-space:nowrap">16b-3.</FONT></B> </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">The terms and conditions of options granted hereunder to, and the purchase of
shares by, persons subject to Section&nbsp;16 of the Exchange Act will comply with the applicable provisions of Rule <FONT STYLE="white-space:nowrap">16b-3.</FONT> This Plan will be deemed to contain, and such options will contain, and the shares
issued upon exercise thereof will be subject to, such additional conditions and restrictions as may be required by Rule <FONT STYLE="white-space:nowrap">16b-3</FONT> to qualify for the maximum exemption from Section&nbsp;16 of the Exchange Act with
respect to Plan transactions. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_93"></A>21.&nbsp;&nbsp;&nbsp;&nbsp;<B>Equal Rights and Privileges.</B> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">All Eligible Employees of the Company (or of any Designated Subsidiary) will have equal rights and privileges with respect to each
Section&nbsp;423 Offering under this Plan to the extent required under Section&nbsp;423 of the Code or applicable Treasury regulations thereunder so that this Plan qualifies as an &#147;employee stock purchase plan&#148; within the meaning of
Section&nbsp;423 of the Code or applicable Treasury Regulations thereunder. With the exception of terms relating to <FONT STYLE="white-space:nowrap">Non-423</FONT> Offerings, any provision of this Plan that is inconsistent with Section&nbsp;423 or
applicable Treasury Regulations will, without further act or amendment by the Company or the Board, be reformed to comply with the equal rights and privileges requirement of Section&nbsp;423 or applicable Treasury Regulations. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_94"></A>22.&nbsp;&nbsp;&nbsp;&nbsp;<B>Electronic Forms.</B> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">To the extent permitted by applicable state law and in the discretion of the Committee, an Eligible Employee may submit any form or
notice as set forth herein by means of an electronic form approved by the Committee (&#147;Electronic Form&#148;). Before the commencement of an Offering Period, the Committee shall prescribe the time limits within which any such Electronic Form
shall be submitted to the Committee with respect to such Offering Period in order to be a valid election. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_95"></A>23.&nbsp;&nbsp;&nbsp;&nbsp;<B>Taxes.</B> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">At any time a Participant incurs a taxable event as a result of his participation in the Plan, a Participant must make adequate
provision for any <FONT STYLE="white-space:nowrap">Tax-Related</FONT> Items.&nbsp;Participants are solely responsible and liable for the satisfaction of all <FONT STYLE="white-space:nowrap">Tax-Related</FONT> Items, and the Company shall not have
any obligation to indemnify or otherwise hold any Participant harmless from any or all of such <FONT STYLE="white-space:nowrap">Tax-Related</FONT> Items.&nbsp;The Company shall have no </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">101 </P>

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responsibility to take or refrain from taking any actions in order to achieve a certain tax result for a Participant or any other person. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">In their sole discretion, the Company or, as applicable, the Designated Subsidiary that employs the Participant may, unless the
Committee determines otherwise, satisfy their obligations to withhold <FONT STYLE="white-space:nowrap">Tax-Related</FONT> Items by (a)&nbsp;withholding from the Participant&#146;s compensation or other wages, (b)&nbsp;withholding a sufficient whole
number of shares of Stock issued following exercise having an aggregate value sufficient to pay the <FONT STYLE="white-space:nowrap">Tax-Related</FONT> Items, (c)&nbsp;withholding from proceeds from the sale of shares of Stock issued upon exercise,
either through a voluntary sale or a mandatory sale arranged by the Company, or (d)&nbsp;any other method deemed acceptable by the Committee. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_96"></A>24.&nbsp;&nbsp;&nbsp;&nbsp;<B>Section 409A of the Code; Tax Qualification.</B> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Options to purchase shares of Stock granted under a <FONT STYLE="white-space:nowrap">Non-423</FONT> Offering may be subject to
Section&nbsp;409A of the Code and Section&nbsp;457A of the Code. In furtherance of the foregoing and notwithstanding any provision in the Plan to the contrary, if the Committee determines that an Option granted under the Plan may be subject to
Section&nbsp;409A of the Code or Section&nbsp;457A of the Code or that any provision in the Plan would cause an Option under the Plan to be subject to Section&nbsp;409A of the Code or Section&nbsp;457A of the Code, the Committee may amend the terms
of the Plan and/or of an outstanding Option granted under the Plan, or take such other action the Committee determines is necessary or appropriate, in each case, without the Participant&#146;s consent, to exempt any outstanding Option or future
Option that may be granted under the Plan from or to allow any such Options to comply with Section&nbsp;409A of the Code or Section&nbsp;457A of the Code, but only to the extent any such amendments or action by the Committee would not violate
Section&nbsp;409A of the Code or Section&nbsp;457A of the Code. Notwithstanding the foregoing, the Company shall not have any obligation to indemnify or otherwise protect the Participant from any obligation to pay any taxes, interest or penalties
pursuant to Section&nbsp;409A of the Code or Section&nbsp;457A of the Code. The Company makes no representation that the Option to purchase shares of Stock under the Plan is compliant with Section&nbsp;409A of the Code or Section&nbsp;457A of the
Code. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_97"></A>25.&nbsp;&nbsp;&nbsp;&nbsp;<B>Governing</B><B> Law; Venue.</B> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Except to the extent that provisions of the Plan are governed by applicable provisions of the Code or any other substantive provision of
United States federal law, the Plan shall be construed in accordance with the laws of the State of Delaware, without giving effect to the conflict of laws principles thereof. Any legal action related to the Plan, the Options granted under the Plan
or any enrollment form or other instrument or agreement relating to the Plan shall be brought only in a United States federal or state court located in State of California, County of San Diego. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_98"></A>26.&nbsp;&nbsp;&nbsp;&nbsp;<B>Severability.</B> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">If any provision of the Plan is or becomes or is deemed to be invalid, illegal, or unenforceable for any reason in any jurisdiction or
as to any Participant, such invalidity, illegality or unenforceability will not affect the remaining parts of the Plan, and the Plan will be construed and enforced as to such jurisdiction or Participant as if the invalid, illegal or unenforceable
provision had not been included. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify"><A NAME="tx612931_99"></A>27.&nbsp;&nbsp;&nbsp;&nbsp;<B>Headings.</B> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:ARIAL" ALIGN="justify">Headings are provided herein for convenience only and are not to serve as a basis for interpretation or construction of the Plan. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">102 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><A NAME="toc612931_72"></A><U>APPENDIX C</U> </B></P>
<P STYLE="margin-top:36pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><B>August 2018 Amendment to </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><B>the ResMed Inc.
2009 Employee Stock Purchase Plan </B></P> <P STYLE="margin-top:30pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">ResMed Inc., a Delaware corporation, maintains the ResMed Inc. 2009 Employee Stock Purchase Plan, adopted by
the board of directors on September&nbsp;30, 2009, approved by the Company stockholders on November&nbsp;18, 2009; and most recently amended and restated in an administrative manner, effective on each of August&nbsp;17, 2017 and August&nbsp;17, 2018
(the &#147;ESPP&#148;). </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">The purposes of this Amendment are to: </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:15pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:11pt">Increase the number of shares of our common stock available for future awards under the ESPP by 2,000,000 shares;
</P></TD></TR></TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:15pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:11pt">Adjust the term of the ESPP so that the ESPP will remain in effect until November&nbsp;15, 2028 (previously
September&nbsp;29, 2019); and </P></TD></TR></TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-size:15pt">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:11pt">Rename the ESPP the &#147;ResMed Inc. 2018 Employee Stock Purchase Plan.&#148; </P></TD></TR></TABLE>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">The changes set forth in this Amendment shall apply to any <FONT STYLE="white-space:nowrap">sub-plan</FONT> of the ESPP. </P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify"><B>A.</B> <B>Increase shares.</B> Section&nbsp;2 &#147;Stock Subject to the Plan,&#148; is replaced in its entirety by the section below: </P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; text-indent:7%; font-size:11pt; font-family:ARIAL" ALIGN="justify"><B>2.&nbsp;&nbsp;&nbsp;&nbsp;Stock Subject to the Plan.</B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; text-indent:7%; font-size:11pt; font-family:ARIAL" ALIGN="justify">Subject to the provisions of Section&nbsp;9 hereof (relating to adjustments upon changes in the Stock) and Section&nbsp;11 hereof
(relating to amendments of the Plan), the Stock that may be sold pursuant to Options granted under the Plan shall not exceed in the aggregate 6,200,000 shares of Stock.<SUP STYLE="font-size:85%; vertical-align:top">2</SUP> The shares of Stock sold
pursuant to Options granted under the Plan may be unissued shares or treasury shares of Stock, or shares reacquired in private transactions or open market purchases. If and to the extent that any right to purchase reserved shares shall not be
exercised by any Participant for any reason, or if such right to purchase shall terminate as provided herein, shares that have not been so purchased hereunder shall again become available for the purposes of this Plan, unless this Plan shall have
been terminated, but all shares sold under this Plan, regardless of source, shall be counted against the limitation set forth above. </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:25%">&nbsp;</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL" ALIGN="justify"><SUP
STYLE="font-size:85%; vertical-align:top">2</SUP> The Plan was initially approved with an aggregate of 3,250,000 shares of Stock that were issuable under the Plan, which number of shares was subsequently adjusted to 6,500,000 shares due to a
September 2005 stock split. In September 2007, the Board approved a reduction in the number of shares of Stock issuable under the Plan, from 6,500,000 to 500,000. An amendment to the Plan dated September&nbsp;30, 2009 increased the number of shares
by 600,000, for a total of 1,100,000. That total number of shares was adjusted to 2,200,000 due to an October 2012 stock split. An August 2012 amendment increased the number of shares by 2,000,000, to a total of 4,200,000. On August&nbsp;17, 2018,
the Board amended the Plan to increase the number of shares of Stock issuable under the Plan by 2,000,000, to a total of 6,200,000, subject to stockholder approval. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">103 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify"><B>B. Adjust Term.</B> Section&nbsp;15 &#147;Term; Approval by Stockholders,&#148; is replaced in its
entirety by the section below:<B> </B> </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; text-indent:7%; font-size:11pt; font-family:ARIAL" ALIGN="justify"><B>15. Term; Approval by Stockholders. </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; text-indent:7%; font-size:11pt; font-family:ARIAL" ALIGN="justify">Subject to approval by the stockholders of the Company in accordance with this Section, the Plan shall be in effect until
November&nbsp;15, 2028, unless sooner terminated in accordance with Section&nbsp;11. No Option may be granted during any period of suspension of the Plan or after termination of the Plan. The Plan shall be submitted for the approval of the
Company&#146;s stockholders within twelve months after the date of the adoption of the Plan by the Board. Options may be granted before such stockholder approval; provided, however, that such Options shall not be exercisable before the time when the
Plan is approved by the Company&#146;s stockholders; and, provided, further, that if such approval has not been obtained by the end of said <FONT STYLE="white-space:nowrap">12-month</FONT> period, all Options previously granted under the Plan shall
thereupon terminate without being exercised. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify"><B>C. Rename Plan.</B> The ESPP will be renamed &#147;the ResMed Inc. 2018 Employee Stock Purchase
Plan.&#148; This name will be substituted for &#147;the ResMed Inc. 2009 Employee Stock Purchase Plan&#148; in the introductory paragraph; section 1. (y) &#147;Definitions&#133; &#147;Plan;&#148;&#148; and all other applicable references. </P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify"><B>D. No other changes. </B>Except as set forth in this Amendment, all other Articles, Sections, terms and conditions of the ESPP shall remain unchanged
and in full force and effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify"><B>E. Restatement.</B> After stockholder approval, this Amendment will be incorporated into the ESPP and the ESPP
will be restated in full. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">* * * * * </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">I certify
that the ResMed Inc. board of directors adopted the amendment above on August&nbsp;17, 2018. </P> <P STYLE="margin-top:72pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">David Pendarvis, secretary </P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">* * * * * </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">I certify that the ResMed Inc. stockholders approved the amendment above
on November&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 2018. </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Executed on this <U>&nbsp;&nbsp;&nbsp;&nbsp;</U> day of
November, 2018. </P> <P STYLE="margin-top:72pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">David Pendarvis, secretary </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">104 </P>

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<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:ARIAL"><B><I>RESMED&nbsp;INC.</I></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:ARIAL"><B><I>9001
SPECTRUM CENTER BLVD.</I></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:ARIAL"><B><I>SAN DIEGO, CA 92123</I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2.00em; font-size:8pt; font-family:ARIAL"><B><I>ATTN: AMY WAKEHAM</I></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><B>VOTE BY INTERNET - www.proxyvote.com</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="justify">Use
the internet to transmit your voting instructions and for electronic delivery of information up until 11:59 p.m. US Eastern Time November&nbsp;14, 2018. Have your proxy card in hand when you access the website and follow the instructions to obtain
your records and to create an electronic voting instruction form.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><B>VOTE BY
MAIL</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="justify">Mark, sign and date your proxy card and return it in the postage-paid envelope we have provided or return it to Vote Processing, c/o
Broadridge, 51 Mercedes Way, Edgewood, NY 11717. For your vote to be effective, it must be received on or before November&nbsp;14, 2018.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><B>VOTE BY PHONE - <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-690-6903</FONT></FONT></FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="justify">Use any touch-tone telephone to transmit your voting instructions up until 11:59 p.m. US Eastern Time November&nbsp;14, 2018. Have your proxy card in hand
when you call and then follow the instructions.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL"><B>ELECTRONIC DELIVERY OF FUTURE
PROXY MATERIALS</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:ARIAL" ALIGN="justify">If you would like to reduce the costs incurred by our company in mailing proxy materials, you can consent to receive all future
proxy statements, proxy cards and annual reports electronically via <FONT STYLE="white-space:nowrap">e-mail</FONT> or the internet. To sign up for electronic delivery, please follow the instructions above to vote using the internet and, when
prompted, indicate that you agree to receive or access proxy materials electronically in future years.</P></TD></TR>
</TABLE> <P STYLE="margin-top:70pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL">TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: </P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px dashed #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px dashed #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px dashed #000000">M63130-P43056</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px dashed #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1px dashed #000000">KEEP THIS PORTION FOR YOUR RECORDS</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
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<TD VALIGN="bottom" ALIGN="right">DETACH AND RETURN THIS PORTION ONLY</TD></TR>
</TABLE> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="center"><B>THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><B>RESMED INC. </B></P>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL"><B>The Board of Directors recommends you vote</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL"><B>FOR the following proposals:</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:ARIAL"><B>Vote on Directors</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:ARIAL">Election of three directors, each to serve until our 2021 annual meeting.</P></TD>
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<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt">&nbsp;</TD></TR>
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<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"><B>Nominees:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><B>For</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><B>Against</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><B>Abstain</B></TD>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:7pt; font-family:ARIAL">1a.&#8194;&#8202;Peter Farrell</P></TD>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:7pt; font-family:ARIAL">1b.&#8194;&#8202;Harjit Gill</P></TD>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:7pt; font-family:ARIAL">1c.&#8194;&#8202;Ron Taylor</P></TD>
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<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"><B>Vote on Proposals</B></TD>
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<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><B>For</B></TD>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:7pt; font-family:ARIAL">2.&#8195;&#8202;Ratify our appointment of KPMG LLP as
our independent registered public accounting firm for the fiscal year ending June&nbsp;30, 2019.</P></TD>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:7pt; font-family:ARIAL">3.&#8195;&#8202;Approve an amendment to the ResMed
Inc. 2009 Employee Stock Purchase Plan, which increases the number of shares authorized for issue under the plan by 2.0&nbsp;million shares, from 4.2&nbsp;million shares to 6.2&nbsp;million shares and extends the term of the plan through
November&nbsp;15, 2028.</P></TD>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:7pt; font-family:ARIAL">4.&#8195;&#8202;Approve, on an advisory basis, the
compensation paid to our named executive officers, as disclosed in this proxy statement.</P></TD>
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<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;Signature [PLEASE SIGN WITHIN BOX]</TD>
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<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature (Joint Owners)</TD>
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</DIV></Center>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>RESMED </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>ANNUAL MEETING OF STOCKHOLDERS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>Date:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Thursday, November&nbsp;15, 2018, at 10:00 a.m. Australian Eastern Time</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Wednesday, November&nbsp;14, 2018, at 3:00 p.m. US Pacific Time</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>Location:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">ResMed&#146;s Australian corporate office</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">1 Elizabeth Macarthur Drive</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL">Bella Vista, New South Wales 2153,
Australia</P></TD></TR>
</TABLE> <P STYLE="margin-top:60pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting: </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">The Notice and Proxy Statement and Form <FONT STYLE="white-space:nowrap">10-K</FONT> are available at www.proxyvote.com. </P>
<P STYLE="font-size:36pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; BORDER-BOTTOM:1px dashed #000000">&nbsp;</P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:7pt; font-family:ARIAL" ALIGN="right">M63131-P43056&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>ResMed Inc. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B>THIS PROXY IS SOLICITED ON
BEHALF OF THE BOARD OF DIRECTORS </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL">The undersigned hereby appoints David Pendarvis and Brett Sandercock as proxies, each with full power of substitution, to
represent and vote as designated on the reverse side, all the shares of common stock of ResMed Inc. held of record by the undersigned on September&nbsp;17, 2018, as of 4:00 p.m. (US Eastern Time) at the Annual Meeting of Stockholders to be held on
Thursday, November&nbsp;15, 2018, at 10:00 a.m. Australian Eastern Time (Wednesday, November&nbsp;14, 2018, at 3:00 p.m. US Pacific Time) in ResMed&#146;s Australian corporate office, 1 Elizabeth Macarthur Drive, Bella Vista, New South Wales 2153,
Australia, or any adjournment or postponement of the meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:ARIAL">If no choice is specified, the proxy will be voted <B>&#147;FOR&#148;</B> the
nominees in Item&nbsp;1, and <B>&#147;FOR&#148;</B> Items 2, 3, and 4. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><I>(See reverse for voting instructions) </I></P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
