Final Year Tuition Repayment Agreement

This Final Year Tuition Repayment Agreement (“Agreement”) is between Banfield Pet Hospital (“Banfield”) and ________________________ (referred to as “you” or “your” in this Agreement).

Payment. Banfield is offering to repay the amount you borrowed from an eligible lender to cover the cost of tuition for your final year of attendance at a Veterinary School (defined below) (“Tuition”) with the expectation that you continue working for Banfield as a Full-Time veterinarian for at least twelve months after you obtain your veterinary license. Tuition does not include the cost of room and board, text books, or any other cost incurred while attending veterinary school, except those charged by your Veterinary School for teaching or instruction. Tuition repayment is limited to the amount actually paid by you or your eligible lender for Tuition, and expressly excludes any portion covered by scholarships, grants, or payments made by other third parties. Banfield’s third-party administrator, Fidelity Workplace Services LLC (“Fidelity”), will pay Tuition repayment directly to your loan servicer in twelve equal monthly installments no later than the 25th day of the month, beginning the month after all of the following have occurred:

Your right to Tuition repayment is initially unvested and does not fully vest until the full amount of Tuition is paid to your loan servicer. You are responsible for student loan payments that exceed the amount of the monthly installment payments provided for under this Agreement.

Eligibility. This Agreement applies to final-year veterinary students with an expected graduation date in 2026 who have accepted an offer of employment to begin working for Banfield on or prior to September 11, 2026.

Eligible Loans. This Agreement applies only to associates who attended their final year of veterinary school at an academic institution in the United States accredited by the American Veterinary Medical Association Council on Education (“Veterinary School”)³ and secured financing through student loans from an eligible lender to pay Tuition. Eligible loans must have been taken out in your name and used to pay for your Tuition. Private loans issued by banks, credit unions, and other student loan providers are eligible for repayment under this Agreement if designated for higher education expenses. The following are ineligible for repayment under this Agreement:

• Loans in default or sent to collections;
• Loans taken out in your name and used to pay for someone else’s education (e.g., loans taken out for a child or other family member’s education); and
• Personal loans, mortgages, or other sources of funds not designated for higher education expenses.

If you learn after signing this Agreement that your loans are ineligible for repayment through Fidelity, please contact Banfield’s Talent Acquisition team. If you meet the other conditions required for Tuition repayment under this Agreement, Banfield will make alternate arrangements to pay your Tuition through a different type of agreement, such as a sign-on bonus. In that case, different terms will apply and you will be required to execute a different agreement to receive repayment.

• Employment Eligibility. To be eligible to receive each installment payment, you must remain employed by Banfield in a Full-Time veterinarian role and performing at a ‘Meets Expectations’ or better level of performance on the date the installment payment is made. If your performance is rated lower than meets expectations, you change status from full-time to part-time or locum, you cease working as a veterinarian, or your employment with Banfield terminates for any reason prior to the date an installment payment is made, you forfeit the right to receive the installment payment. “Full-Time” means at least 30 hours per week.

• Eligibility While on Leave. Associates on a protected medical leave of absence or other leave of absence protected by applicable law are eligible to receive monthly installment payments for up to six months. Associates who are on a leave of absence for more than six months are ineligible to receive monthly installment payments beginning in their seventh month of leave, and any time spent on leave in excess of six months is not credited toward the vesting period. If you take a leave of absence exceeding six months in duration, monthly installment payments will resume the month after you return to work as a Full-Time veterinarian for Banfield.

Taxation. The value of payments made under this Agreement are subject to state and federal taxes. Banfield will withhold applicable taxes from your wages in each pay period in which monthly installment payments are made. To assist with your tax liability, Banfield will pay you a stipend equal to 20% of the monthly installment payment (“Stipend”) in any pay period in which a monthly installment payment is made. However, if the amount required to be withheld for taxes exceeds the Stipend, such taxes are solely your responsibility and Banfield will deduct such amounts from your regular wages. If you have questions about the tax consequences of receiving repayment for your Tuition, or the stipend referenced in this paragraph, you should speak with a financial advisor.

Nontransferable. Your benefits under this Agreement are nontransferable and cannot be traded for other benefits.

Overpayment. In the event any amount above the full amount of your Tuition is incorrectly paid to your loan servicer, you agree to fully cooperate with Banfield and Fidelity to recover those payments. If Fidelity or Banfield receive notice from your loan servicer that it received an overpayment and remitted a refund to you, you agree that Banfield may deduct from your wages the amount of any such overpayment, up to a maximum of $400 per pay period.

Entire Agreement. This Agreement sets forth the entire agreement and understandings between you and Banfield with respect to Tuition repayment, and this Agreement supersedes and nullifies all other agreements, whether verbal or in writing, between you and Banfield with respect to Tuition repayment.

By signing below, you acknowledge that you have read and understand this Agreement and agree to be bound by the terms stated above. Please keep a copy of this Agreement for your records.

Signature: _____________________________________________

Date: _____________________________________________

Printed Name: _____________________________________________