Exhibit 10.3






Exhibit 10.3




LUMINEX CORPORATION

RESTRICTED SHARE AWARD AGREEMENT

(OFFICERS AND EMPLOYEES)




THIS RESTRICTED SHARE AWARD AGREEMENT (this “Agreement”) is made and entered into as of the
                     day of                     , 20_____ 
(the “Grant Date”), between Luminex Corporation, a Delaware
corporation, (together with its Subsidiaries, the “Company”), and                                          (the
“Grantee”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to such
terms in the Luminex Corporation Amended and Restated 2006 Equity Incentive Plan (the “Plan”).



WHEREAS, the Company has adopted the Plan, which permits the issuance of restricted shares of
the common stock of Luminex Corporation, par value $0.001 per share (the “Common Stock”); and



WHEREAS, pursuant to the Plan, the Committee responsible for administering the Plan has
granted an award of restricted shares to the Grantee as provided herein;



NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto, intending to be legally bound hereby, agree as follows:




1. Grant of Restricted Shares.



(a) The Company hereby grants to the Grantee an award (the “Award”) of                      shares
of Common Stock (the “Shares” or the “Restricted Shares”) on the terms and conditions set forth in
this Agreement and as otherwise provided in the Plan.



(b) The Grantee’s rights with respect to the Award shall remain forfeitable at all times prior
to the dates on which the restrictions shall lapse in accordance with Sections 2 and 3 hereof.




2. Terms and Rights as a Stockholder.



(a) Except as provided herein and subject to such other exceptions as may be determined by the
Committee in its discretion, the “Restricted Period” for                     
(_____%) of the Restricted
Shares granted herein shall expire on the each of the succeeding                     
(_____) anniversaries of the
date hereof.


 


 









 





(b) The Grantee shall have all rights of a stockholder with respect to the Restricted Shares,
including the right to receive dividends and the right to vote such Shares, subject to the
following restrictions:



(i) the Grantee shall not be entitled to delivery of the stock certificate for any Shares
until the expiration of the Restricted Period as to such Shares and the fulfillment of any other
restrictive conditions set forth herein;



(ii) none of the Restricted Shares may be sold, assigned, transferred, pledged, hypothecated
or otherwise encumbered or disposed of during the Restricted Period as to such Shares and until the
fulfillment of any such other restrictive conditions set forth herein; and



(iii) except as otherwise determined by the Committee at or after the grant of the Award
hereunder, any Restricted Shares as to which the applicable “Restricted Period” has not expired or
other restrictive conditions have not been met shall be forfeited, and all rights of the Grantee to
such Shares shall terminate, without further obligation on the part of the Company, unless the
Grantee remains in the continuous employment (or other servicing-providing capacity) of the Company
or its Subsidiaries for the entire Restricted Period.



(c) Notwithstanding the foregoing, the Restricted Period shall automatically terminate as to
all Restricted Shares awarded hereunder (as to which such Restricted Period has not previously
terminated) upon the occurrence of termination of the Grantee’s employment from the Company, a
Subsidiary or Affiliate which results from Grantee’s death or Disability (to be determined in the
sole discretion of the Committee).



Any Shares, any other securities of the Company and any other property (except for cash dividends)
distributed with respect to the Restricted Shares shall be subject to the same restrictions, terms
and conditions as such Restricted Shares.



3. Termination of Restrictions. Following the termination of the Restricted Period
and provided that all other restrictive conditions set forth herein have been met, all restrictions
set forth in this Agreement or in the Plan relating to such portion or all, as applicable, of the
Restricted Shares shall lapse as to such portion or all, as applicable, of the Restricted Shares,
and a stock certificate for the appropriate number of Shares, free of the restrictions and
restrictive stock legend (but subject to any legend appropriate under securities laws), shall, upon
request, be delivered to the Grantee pursuant to the terms of this Agreement (or, in the case of
book-entry Shares, such restrictions and restricted stock legend shall be removed from the
confirmation and account statements delivered to the Grantee in book-entry form).




4. Delivery of Shares.



(a) As of the date hereof, certificates representing the Restricted Shares shall be registered
in the name of the Grantee and held by the Company or transferred to a custodian appointed by the
Company for the account of the Grantee subject to the terms and conditions of the Plan and shall
remain in the custody of the Company or such custodian until their delivery to the Grantee as set
forth in Section 4(b) hereof or their forfeiture or reversion to the Company as set forth in
Section 2(b) hereof. The Committee may, in its discretion, provide that Grantee’s ownership of
Restricted Shares prior to the lapse of any transfer restrictions or any other applicable
restrictions shall, in lieu of such certificates, be evidenced by a “book entry” (i.e. a
computerized or manual entry) in the Company’s records in accordance with and subject to the
applicable provisions of the Plan.


 


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(b) Certificates representing Restricted Shares in respect of which the applicable Restricted
Period has lapsed pursuant to this Agreement shall be delivered to the Grantee upon request
following the date on which the restrictions on such Restricted Shares lapse.



(c) Each certificate representing Restricted Shares shall bear (and confirmation and account
statements sent to a Grantee with respect to book-entry Shares may bear) a legend in substantially
the following form or substance:



THIS CERTIFICATE AND THE SHARES OF STOCK REPRESENTED HEREBY ARE SUBJECT TO THE TERMS
AND CONDITIONS (INCLUDING FORFEITURE AND RESTRICTIONS AGAINST TRANSFER) CONTAINED IN
THE LUMINEX CORPORATION AMENDED AND RESTATED 2006 EQUITY INCENTIVE PLAN (THE “PLAN”)
AND THE RESTRICTED SHARE AWARD AGREEMENT (THE “AGREEMENT”) BETWEEN THE OWNER OF THE
RESTRICTED SHARES REPRESENTED HEREBY AND LUMINEX CORPORATION (THE “COMPANY”). THE
RELEASE OF SUCH SHARES FROM SUCH TERMS AND CONDITIONS SHALL BE MADE ONLY IN
ACCORDANCE WITH THE PROVISIONS OF THE PLAN AND THE AGREEMENT AND ALL OTHER
APPLICABLE POLICIES AND PROCEDURES OF THE COMPANY, COPIES OF WHICH ARE ON FILE AT
THE COMPANY.



5. Effect of Lapse of Restrictions. To the extent that the Restricted Period
applicable to any Restricted Shares shall have lapsed, the Grantee may receive, hold, sell or
otherwise dispose of such Shares free and clear of the restrictions imposed under the Plan and this
Agreement.



6. No Right to Continued Employment. This Agreement shall not be construed as giving
Grantee the right to be retained in the employ of the Company of its Subsidiaries, and the Company
or its Subsidiaries may at any time dismiss Grantee from employment, free from any liability or any
claim under the Plan but subject to the terms of the Grantee’s Employment Agreement, if any.



7. Adjustments. The Committee shall make equitable and proportionate adjustments in
the terms and conditions of, and the criteria included in, this Award in recognition of unusual or
nonrecurring events (and shall make adjustments for the events described in Section 4.2 of the
Plan) affecting the Company or the financial statements of the Company or of changes in applicable
laws, regulations, or accounting principles in accordance with the Plan, whenever the Committee
determines that such event(s) affect the Shares. Any such adjustments shall be effected in a
manner that precludes the material enlargement of rights and benefits under this Award.


 


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8. Amendment to Award. Subject to the restrictions contained in the Plan, the
Committee may waive any conditions or rights under, amend any terms of, or alter, suspend,
discontinue, cancel or terminate the Award, prospectively or retroactively; provided that any such
waiver, amendment, alteration, suspension, discontinuance, cancellation or termination that would
adversely affect the rights of the Grantee or any holder or beneficiary of the Award shall not to
that extent be effective without the consent of the Grantee, holder or beneficiary affected.



9. Withholding of Taxes. If the Grantee makes an election under Section 83(b) of the
Code with respect to the Award, the Award made pursuant to this Agreement shall be conditioned upon
the prompt payment to the Company of any applicable withholding obligations or withholding taxes by
the Grantee (“Withholding Taxes”). Failure by the Grantee to pay such Withholding Taxes will render
this Agreement and the Award granted hereunder null and void ab initio and the Restricted Shares
granted hereunder will be immediately cancelled. If the Grantee does not make an election under
Section 83(b) of the Code with respect to the Award, upon the lapse of the Restricted Period with
respect to any portion of Restricted Shares (or property distributed with respect thereto), the
Company shall satisfy the required minimum Withholding Taxes as set forth by Internal Revenue
Service guidelines for the employer’s minimum statutory withholding with respect to Grantee and
issue vested shares to the Grantee without Restriction. The Company shall satisfy the required
Withholding Taxes by withholding from the Shares included in the Award that number of whole shares
necessary to satisfy such taxes as of the date the restrictions lapse with respect to such Shares
based on the Fair Market Value of the Shares.



10. Plan Governs. The Grantee hereby acknowledges receipt of a copy of the Plan and
agrees to be bound by all the terms and provisions thereof. The terms of this Agreement are
governed by the terms of the Plan, and in the case of any inconsistency between the terms of this
Agreement and the terms of the Plan, the terms of the Plan shall govern.



11. Severability. If any provision of this Agreement is, or becomes, or is deemed to
be invalid, illegal, or unenforceable in any jurisdiction or as to any Person or the Award, or
would disqualify the Plan or Award under any laws deemed applicable by the Committee, such
provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot
be construed or deemed amended without, in the determination of the Committee, materially altering
the intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction,
Person or Award, and the remainder of the Plan and Award shall remain in full force and effect.



 


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12. Notices. All notices required to be given under this Grant shall be deemed to be
received if delivered or mailed as provided for herein, to the parties at the following addresses,
or to such other address as either party may provide in writing from time to time.




	 	To the Company: 	 	Luminex Corporation

12212 Technology Blvd.

Austin, TX 78727

Attn: Corporate Secretary and Chief Financial Officer








	 	To the Grantee: 	 	   The address then maintained with respect to the
Grantee in the Company’s records.






13. Governing Law. The validity, construction and effect of this Agreement shall be
determined in accordance with the laws of the State of Delaware without giving effect to conflicts
of laws principles.



14. Successors in Interest. This Agreement shall inure to the benefit of and be
binding upon any successor to the Company. This Agreement shall inure to the benefit of the
Grantee’s legal representatives. All obligations imposed upon the Grantee and all rights granted to
the Company under this Agreement shall be binding upon the Grantee’s heirs, executors,
administrators and successors.



15. Resolution of Disputes. Any dispute or disagreement which may arise under, or as a
result of, or in any way related to, the interpretation, construction or application of this
Agreement shall be determined by the Committee. Any determination made hereunder shall be final,
binding and conclusive on the Grantee and the Company for all purposes. The Grantee may contest a
decision by the Committee with respect to such Grantee only on the grounds that such decision or
action was arbitrary or capricious or was unlawful, and any review of such decision or action shall
be limited to determining whether the Committee’s decision or action was arbitrary or capricious or
unlawful.



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IN WITNESS WHEREOF, the parties have caused this Restricted Share Award Agreement to be duly
executed effective as of the day and year first above written.



	 	 	 	 	 
	 	LUMINEX CORPORATION

 	 
	 	By:  	 	 



	 	 	 	 	 
	 

	 	GRANTEE:	 	 
	 
	 	 	 	 
	 

	 	 

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	 	GRANTEE:	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	Signature