Exhibit 10.1


 


ACCELERATE DIAGNOSTICS, INC.

2022 OMNIBUS EQUITY INCENTIVE PLAN


 


EFFECTIVE
DATE: May 12, 2022

Approved by SHAREholders: May 12, 2022

EXPIRATION DATE: May 12, 2032


 


ARTICLE 1

ESTABLISHMENT; PURPOSE; GLOSSARY


 


1.1    ESTABLISHMENT.
Accelerate Diagnostics, Inc., a Delaware corporation (the “Company”), hereby establishes the Accelerate Diagnostics, Inc.
2022 Omnibus Equity Incentive Plan (the “Plan”). The Plan will supersede and replace the Company’s 2012 Omnibus
Equity Incentive Plan (the “2012 Plan”) and all other Prior Plans. No awards will be made pursuant to the 2012 Plan
or any other Prior Plan on or after the Effective Date (as defined below); provided, that, the 2012 Plan and all Prior Plans shall remain
in effect until all awards granted under the 2012 Plan and such Prior Plans have been exercised, forfeited, cancelled, or have otherwise
expired or terminated in accordance with the terms of such grants.


 


1.2      PURPOSE.
The purpose of the Plan is to promote the success and enhance the value of the Company by linking the personal interest of the Participants
to those of the Company’s shareholders by providing the Participants with an incentive for outstanding performance. To further these
objectives, the Plan allows for the award of Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Stock Grants,
Stock Units, Performance Shares, Performance Units, and Performance Cash.


 


1.3      GLOSSARY.
Defined terms used in this Plan are set forth in the attached Glossary, which is incorporated into and made part of this Plan.


 


ARTICLE 2

EFFECTIVE DATE; EXPIRATION DATE


 


2.1      EFFECTIVE
DATE. The Plan will become effective on the date it is approved by the shareholders at the
Company’s 2022 Annual Meeting (the “Effective Date”).


 


2.2      EXPIRATION
DATE. The Plan will expire on, and no Award may be granted under the Plan after, the 10th anniversary of the Effective Date. Any
Awards that are outstanding on the 10th anniversary of the Effective Date shall remain in force according to the terms of the Plan and
the Award Agreement.


 


ARTICLE 3

ADMINISTRATION


 


3.1      COMMITTEE.
The Plan shall be administered by the Committee or, with respect to non-employee directors, the Board. The Committee shall consist of
2 or more individuals, each of whom qualifies as: (a) a “non-employee director” as defined in Rule 16b-3(b)(3) of
the General Rules and Regulations of the Exchange Act; and (b) “independent” for purposes of the NASDAQ Listing
Rules (or rules of any other exchange upon which the Stock is then traded), in each case, as each such rule or regulation
is in effect from time to time. The members of the Committee shall be appointed from time to time by, and shall serve at the discretion
of, the Board. All references in the Plan to the “Committee” shall be, as applicable, to the Board or the Committee.


 






     


     


    

 


3.2      ACTION
BY THE COMMITTEE. A majority of the Committee shall constitute a quorum. The acts of a majority
of the members present at any meeting at which a quorum is present, and acts approved in writing by all of the members of the Committee
in lieu of a meeting, shall be deemed the acts of the Committee.


 


3.3      AUTHORITY
OF COMMITTEE. The Committee has the power and authority to take the following actions: (a) designate
Participants to receive Awards; (b) determine the type or types of Awards and the times when Awards are to be granted to each Participant;
(c) determine the number of Awards to be granted and the number of shares of Stock to which an Award will relate; (d) determine
the terms and conditions of any Award, including, but not limited to, the exercise price, grant price, or purchase price, any restrictions
or limitations on the Award, any schedule for lapse of restrictions or limitations, and accelerations or waivers thereof, based in each
case on such considerations as the Committee determines; (e) determine whether, to what extent, and in what circumstances an Award
may be settled in, or the exercise price of an Award may be paid in, cash, Stock, other Awards, or other property, or whether an Award
may be cancelled, forfeited, exchanged or surrendered; (f) prescribe the form of each Award Agreement, which need not be identical
for each Participant; (g) decide all other matters that must be determined in connection with an Award; (h) establish, adopt,
or revise any rules and regulations as it may deem necessary or advisable to administer the Plan; (i) amend or modify any outstanding
Award to the extent the terms of such Award are within the power and authority of the Committee as provided under the Plan; (j) interpret
the terms of, and determine any matter arising pursuant to, the Plan or any Award Agreement and correct any defects and reconcile any
inconsistencies in the Plan or any Award Agreement; and (k) make all other decisions or determinations that may be required pursuant
to the Plan or an Award Agreement as the Committee deems necessary or advisable to administer the Plan.


 


3.4      DECISIONS
BINDING. The Committee’s interpretation of the Plan or any Award Agreement and all
decisions and determinations by the Committee with respect to the Plan and any Award are final, binding, and conclusive on all parties.
All authority of the Board and the Committee with respect to Awards issued pursuant to this Plan, including the authority to amend outstanding
Awards, shall continue after the term of this Plan so long as any Award remains outstanding. Any action authorized to be taken by the
Committee pursuant to the Plan may be taken or not taken by the Committee in the exercise of its discretion as long as such action or
decision not to act is not inconsistent with a provision of this Plan.


 


3.5      DELEGATION
to CEO. The Committee may, in its discretion, delegate to the CEO, in writing, the power
and authority to grant Awards to employees (other than to employees who are or may become upon hiring employees subject to Section 16
of the Exchange Act) to expedite the hiring process or to retain talented employees. The Committee’s delegation to the CEO may be
revoked or modified at any time. Any such delegation must be consistent with applicable law and shall be subject to such restrictions
or limitations as may be imposed by the Committee.


 






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ARTICLE 4

SHARES SUBJECT TO THE PLAN


 


4.1      NUMBER
OF SHARES. Subject to adjustment as provided in Section 4.4, the total number
of shares of Stock reserved and available for grant pursuant to the Plan is 5,500,000, plus the number of shares of Stock that remain
available or, as described in Section 4.2 otherwise become available, for grant under the terms of the 2012 Plan and all Prior
Plans following the Effective Date. As provided in Section 1.1, no Awards will be made pursuant to the 2012 Plan or any other
Prior Plan on or after the Effective Date.


 


4.2      share
COUNTING. For purposes of determining the number of shares of Stock available for grant under
the Plan from time-to-time:


 


(a)      In
the event any Award granted under this Plan, or any award outstanding under any Prior Plan on or after the Effective Date, is forfeited,
terminated, cancelled, or expired, the number of shares of Stock subject to such Award or Prior Plan award, to the extent of any such
forfeiture, termination, cancellation or expiration, shall thereafter be available for grant under the Plan (i.e., any prior charge against
the numeric limit in Section 4.1 shall be reversed).


 


(b)      If
shares of Stock are not delivered in connection with any Award because the Award is settled in cash rather than in Stock, no shares of
Stock shall be counted against the limit set forth in Section 4.1. If an Award may be settled in cash or Stock, the rules set
forth in Section 4.2(a) shall apply until the Award is settled, at which time the underlying shares of Stock will be
added back to the shares available for grant pursuant to Section 4.1 but only if the Award is settled in cash.


 


(c)      The
exercise of a stock-settled SAR or broker-assisted “cashless” exercise of an Option (or a portion thereof) will reduce the
number of shares of Stock available for grant by the entire number of shares of Stock subject to that SAR or Option (or applicable portion
thereof), even though a smaller number of shares of Stock will be issued upon such an exercise.


 


(d)      Shares
of Stock tendered to pay the exercise price of an Option or tendered, withheld or otherwise relinquished by the Participant to satisfy
a tax withholding obligation arising in connection with any Award will not become available for grant under the Plan. Moreover, shares
of Stock purchased on the open market with cash proceeds generated by the exercise of an Option or SAR will not increase or replenish
the number of shares available for grant.


 


(e)      If
the provisions of this Section 4.2 are inconsistent with the requirements of any regulations promulgated by the Internal Revenue
Service pursuant to Section 422 of the Code, the provisions of such regulations shall control over the provisions of this Section 4.2,
but only as this Section 4.2 applies to Incentive Stock Options.


 


(f)      The
Committee may adopt such other reasonable rules and procedures as it deems to be appropriate for purposes of determining the number
of shares of Stock that are available for grant pursuant to Section 4.1.


 






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4.3      STOCK
DISTRIBUTED. Any shares of Stock delivered pursuant to an Award may consist, in whole or
in part, of authorized but unissued Stock or treasury Stock or Stock purchased on the open market.


 


4.4      ADJUSTMENTS.
In the event of any recapitalization, reclassification, stock dividend, stock split, reverse stock split or other distribution with respect
to the shares of Stock, or any similar corporate transaction or event in respect of the Stock, the Committee shall, in its sole discretion
and to the extent it deems equitable and appropriate to prevent dilution or enlargement of rights, make a proportionate adjustment in:
(a) the number and class of shares of Stock made available for grant pursuant to Section 4.1; (b) the number of
shares of Stock set forth in Section 7.2(h) and any other similar numeric limit expressed in the Plan; (c) the number
and class of and/or price of shares of Stock, units, or other rights subject to the then-outstanding Awards; (d) the performance
targets or goals appropriate to any outstanding Awards; or (e) any other terms of an Award that are affected by the event. Notwithstanding
anything in the Plan to the contrary, in the event of any such transaction or occurrence, the Committee, in its sole discretion, may provide
in substitution for any or all outstanding Awards such alternative consideration (including cash) as it, in good faith, may determine
to be equitable under the circumstances and may require in connection therewith the surrender of all Awards so replaced. Any adjustments
made pursuant to this Section 4.4 shall be made in a manner consistent with the requirements of Section 409A of the Code
and, in the case of Incentive Stock Options, any such adjustments shall be made in a manner consistent with the requirements of Section 424(a) of
the Code.


 


4.5      REPLACEMENT
AWARDS. In the event of any corporate transaction in which the Company or a Subsidiary acquires a corporate entity which, at the
time of such transaction, maintains an equity compensation plan pursuant to which awards of stock options, stock appreciation rights,
restricted stock, performance shares, performance units, stock grants, stock units, restricted stock units or any other form of equity
based compensation are then outstanding (the “Acquired Plan”), the Committee may make Awards to assume, substitute
or convert such outstanding awards in such manner as may be determined to be appropriate and equitable by the Committee; provided, however,
that the number of shares of Stock subject to any Award shall always be a whole number by rounding any fractional share to the nearest
whole share. To the extent permitted by Section 409A of the Code, Options or SARs issued pursuant to this Section 4.5
shall not be subject to the requirement that the exercise price of such Award not be less than the fair market value of Stock on the date
the Award is granted. Shares used in connection with an Award granted in substitution for an award outstanding under an Acquired Plan
under this Section 4.5 shall not be counted against the number of shares of Stock reserved under this Plan under Section 4.1.
Any shares of Stock authorized and available for issuance under the Acquired Plan may, subject to adjustment as described in Section 4.4,
be available for use in making Awards under this Plan with respect to persons eligible under such Acquired Plan, by virtue of the Company’s
assumption of such Acquired Plan, consistent with NASDAQ Listing Rules (or rules of any other exchange upon which the Stock
is then traded), including, but not limited to, NASDAQ Rule 5635(c), including IM-5635-1, as such Rules may be amended or replaced
from time to time.


 






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4.6      FRACTIONAL
SHARES. No fractional shares shall be issued pursuant to the Plan. Unless the Committee specifies otherwise in the Award
Agreement or pursuant to any policy adopted by the Committee, cash will be given in lieu of fractional shares. In the event of adjustment
as provided in Section 4.4 or the issuance of replacement awards as provided in Section 4.5, the total number
of shares subject to any affected Award shall always be a whole number by rounding any fractional shares to the nearest whole share.


 


4.7      LIMIT
ON NON-EMPLOYEE DIRECTOR AWARDS. Notwithstanding any other provision in the Plan to the contrary, the aggregate grant date
fair value (computed as of the date of grant in accordance with applicable financial accounting rules) of all Awards granted to any non-employee
director during any fiscal year, plus the aggregate amount of all cash payments made to such non-employee director for services rendered
as a director for the same fiscal year, shall not exceed $500,000 (the “Annual Director Compensation Limit”). For the
avoidance of doubt, any compensation that is deferred shall be counted toward the Annual Director Compensation Limit during the year in
which it is first earned.


 


ARTICLE 5

ELIGIBILITY; PARTICIPATION


 


5.1      ELIGIBILITY.
Persons eligible to participate in this Plan include members of the Board and employees and officers of the Company and its Subsidiaries.
The Committee may determine on a case-by-case basis to make Awards to Consultants to the Company or any Subsidiary. Awards may also be
granted to prospective employees or members of the Board but no portion of any such Award will vest, become exercisable, be issued, or
become effective prior to the date on which such individual begins to provide services to the Company or any Subsidiary.


 


5.2      ACTUAL
PARTICIPATION. Subject to the provisions of the Plan, the Committee may, from time to time,
select from among all eligible Participants those to whom Awards shall be granted and shall determine the nature and amount of each Award.
No individual shall have any right to be selected to receive an Award, or having been so selected, to be selected to receive a future
Award, except as otherwise provided by separate agreement, the relevant provisions of which have been approved by the Committee.


 


ARTICLE 6

GENERAL RULES APPLICABLE TO ALL AWARDS


 


6.1      AWARD
AGREEMENTS. All Awards shall be evidenced by an Award Agreement. The Award Agreement shall include such terms and provisions as
the Committee determines to be appropriate. The terms of the Award Agreement may vary depending on the type of Award, the employee or
classification of the employee to whom the Award is made and such other factors as the Committee determines to be appropriate.


 


6.2      STAND-ALONE
AND TANDEM AWARDS. Awards may be granted either alone, in addition to, or in tandem with,
any other Award granted pursuant to the Plan. Awards granted in addition to or in tandem with other Awards may be granted either at the
same time as or at a different time from the grant of such other Awards.


 






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6.3      TERM
OF AWARD. The term of each Award shall be for the period determined by the Committee; provided,
that, in no event shall the term of any Option or Stock Appreciation Right exceed a period of 10 years from the Date of Grant.


 


6.4      TERMINATION
OF EMPLOYMENT OR SERVICE. Subject to the provisions of this Plan, the Committee shall determine and set forth in the applicable
Award Agreement the extent to which a Participant shall have the right to retain and/or exercise an Award following Termination of Employment
(or Termination of Service). Such provisions need not be uniform among all types of Awards and may reflect distinctions based on the reasons
for such terminations, including but not limited to, death, Disability, a Change of Control, a termination for cause or reasons relating
to the breach or threatened breach of restrictive covenants.


 


6.5      FORM OF
PAYMENT FOR AWARDS. Subject to the terms of the Plan, the Award Agreement and any applicable
law, payments or transfers to be made by the Company or any Subsidiary on the grant, exercise or settlement of an Award may be made in
such forms as determined by the Committee, including, without limitation, cash, Stock, other Awards, or other property, or any combination
thereof, and may be made in a single payment or transfer, in installments, or any combination thereof, in each case determined in accordance
with applicable law and rules adopted by the Committee.


 


6.6      LIMITS
ON TRANSFER.


 


(a)      General.
Except as provided in Section 7.1(f), Section 8.1(f), Section 6.6(b) or Section 6.7,
no right or interest of a Participant in any Award may be pledged, encumbered, or hypothecated to, or in favor of, any party other than
the Company or any Subsidiary, or shall be subject to any lien, obligation, or liability of such Participant to any other party other
than the Company or any Subsidiary and except as otherwise provided by the Committee, no Award shall be assigned, transferred, or otherwise
disposed of by a Participant other than by will or the laws of descent and distribution or, if applicable, until the expiration of any
period during which any restrictions are applicable or any Performance Period as determined by the Committee.


 


(b)      Transfers
to Family Members. The Committee shall have the authority to adopt a policy that is applicable to existing Awards, new Awards,
or both, which permits a Participant to transfer Awards during his or her lifetime to any Family Member. In the event an Award is transferred
as permitted by such policy, such transferred Award may not be subsequently transferred by the transferee (other than another transfer
meeting the conditions set forth in the policy) except by will or the laws of descent and distribution. A transferred Award shall continue
to be governed by and subject to the terms and limitations of the Plan and relevant Award Agreement, and the transferee shall be entitled
to the same rights as the Participant, as if the transfer had not taken place.


 


6.7      BENEFICIARIES.
Notwithstanding Section 6.6, a Participant may, in the manner determined by the Committee, designate a beneficiary to exercise
the rights of the Participant and to receive any distribution with respect to any Award upon the Participant’s death, and, in accordance
with Section 7.2(d)(3), upon the Participant’s Disability. A beneficiary, legal guardian, legal representative, or other
person claiming any rights pursuant to the Plan is subject to all terms and conditions of the Plan and any Award Agreement applicable
to the Participant, except to the extent the Plan and Award Agreement otherwise provide, and to any additional restrictions deemed necessary
or appropriate by the Committee. If the Participant is married and resides in a community property state, a designation of a person other
than the Participant’s spouse as his beneficiary with respect to more than 50% of the Participant’s interest in the Award
shall not be effective without the prior written consent of the Participant’s spouse. If no beneficiary has been designated or survives
the Participant, payment shall be made to the person entitled thereto pursuant to the Participant’s will or the laws of descent
and distribution. Subject to the foregoing, a beneficiary designation may be changed or revoked by a Participant at any time provided
the change or revocation is provided to the Company.


 






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6.8      STOCK
CERTIFICATES. Notwithstanding anything herein to the contrary, the Company shall not be required
to issue or deliver any certificates evidencing shares of Stock pursuant to the exercise of any Award, unless and until the Committee
has determined, with advice of counsel, that the issuance and delivery of such certificates is in compliance with all applicable laws,
regulations of governmental authorities and, if applicable, the requirements of any exchange or quotation system on which the shares of
Stock are listed, quoted or traded. All Stock certificates delivered pursuant to the Plan are subject to any stop-transfer orders and
other restrictions as the Committee deems necessary or advisable to comply with federal, state, or foreign jurisdiction, securities or
other laws, rules and regulations and the rules of any national securities exchange or automated quotation system on which the
Stock is listed, quoted, or traded. The Committee may place legends on any Stock certificate to reference restrictions applicable to the
Stock. In addition to the terms and conditions provided herein, the Committee may require that a Participant make such reasonable covenants,
agreements, and representations, as the Committee deems advisable in order to comply with any such laws, regulations, or requirements.


 


6.9      CLAWBACK.
Notwithstanding any provision of the Plan to the contrary, in an Award Agreement, the Committee shall include provisions calling for the
recapture or clawback of all or any portion of an Award to the extent necessary to comply with applicable law in effect on the date of
the Award Agreement, including, but not limited to, the final rules issued by the Securities and Exchange Commission and the NASDAQ
Listing Rules (or any other exchange upon which the Stock is then listed) pursuant to Section 954 of the Dodd-Frank Wall Street
Reform and Consumer Protection Act. The Committee also may include other clawback provisions in the Award Agreement as it determines to
be appropriate. By accepting an Award, each Participant agrees to be bound by, and comply with, the terms of any such recapture or clawback
provisions and with any Company request or demand for recapture or clawback.


 


6.10      DIVIDEND
EQUIVALENTS. With respect to any Award that vests based on the achievement of Performance Goals, in no event will any dividend
equivalent award vest or be paid prior to the attainment of the Performance Goals applicable to the corresponding Award and such dividend
equivalent awards shall only be paid to the Participant if and to the extent that the Performance Goals related to the corresponding Award
are satisfied. No dividend equivalents awards may be awarded in connection with an award of Stock Options or SARs.


 






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ARTICLE 7

STOCK OPTIONS


 


7.1      GENERAL.
Subject to the terms and provisions of the Plan, Options may be granted to one or more Participants upon such terms and conditions, and
at any time and from time to time, as shall be determined by the Committee. The Committee may grant either Nonqualified Stock Options
or Incentive Stock Options and shall have complete discretion in determining the number of shares subject to Options granted to each Participant.
Option Awards are subject to the following terms and conditions:


 


(a)      Exercise
Price. The exercise price per share of Stock pursuant to any Option shall be equal to the Fair Market Value of one share of Stock
as of the Date of Grant unless the Committee sets a higher exercise price in the Award Agreement.


 


(b)      Exercise
of Option. Options shall be exercisable at such times and in such manner, and shall be subject to such restrictions and conditions,
as the Committee shall, in each instance approve, which need not be the same for each grant or for each Participant. The Committee may
prescribe performance or other conditions, if any, that must be satisfied before all or part of an Option may be exercised.


 


(c)      Term
of Option. Each Option shall expire at such time as the Committee shall determine as of the Date of Grant; provided, however,
that no Option shall be exercisable later than the 10th anniversary of the Date of Grant.


 


(d)      Payment.
The exercise price for any Option shall be paid in cash or shares of Stock held for longer than 6 months (through actual tender or by
attestation). In the Award Agreement, the Committee also may prescribe other methods by which the exercise price of an Option may be paid
and the form of payment including, without limitation, any net-issuance arrangement or other property acceptable to the Committee (including
broker-assisted “cashless exercise” arrangements), and the methods by which shares of Stock shall be delivered or deemed to
be delivered to Participants. The Committee, in consideration of applicable accounting standards and applicable law, may waive the 6-month
share holding period described in the first sentence of this paragraph (d) in the event payment of an Option is made through the
tendering of shares.


 


(e)      Repricing
of Options. Notwithstanding any other provision in the Plan to the contrary, without approval of the Company’s shareholders,
an Option may not be amended, modified or repriced to reduce the exercise price after the Date of Grant. Except as otherwise provided
in Section 4.4 with respect to an adjustment in capitalization, an Option also may not be surrendered in consideration of
or exchanged for cash, other Awards or a new Option having an exercise price below the exercise price of the Option being surrendered
or exchanged.


 


(f)      Nontransferability
of Options. No Option may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will
or by the laws of descent and distribution. Further, all Options granted to a Participant shall be exercisable during his or her lifetime
only by such Participant or his or her legal representative. Notwithstanding the foregoing, the Committee may, in its discretion, permit
the transfer of an Option to a Family Member, trust or partnership, or to a charitable organization, provided that no value or consideration
is received by the Participant with respect to such transfer.


 






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7.2      INCENTIVE
STOCK OPTIONS. The following additional rules shall apply to Incentive Stock Options
granted pursuant to this Article 7:


 


(a)      Employees
Only. Incentive Stock Options shall be granted only to Participants who are employees of the Company or any Subsidiary.


 


(b)      Exercise
Price. Except as provided in Section 7.2(f), the exercise price per share of Stock pursuant to any Incentive Stock
Option shall be equal to the Fair Market Value of one share of Stock as of the Date of Grant unless the Committee sets a higher exercise
price in the Award Agreement.


 


(c)      Term
of Incentive Stock Option. In no event may any Incentive Stock Option be exercisable for more than 10 years from the Date of Grant.


 


(d)      Lapse
of Option. An Incentive Stock Option shall lapse in the following circumstances:


 


(1)      The
Incentive Stock Option shall lapse 10 years from the Date of Grant, unless an earlier time is specified in the Award Agreement;


 


(2)      The
Incentive Stock Option shall lapse upon a Termination of Employment for any reason other than the Participant’s death or Disability,
unless otherwise provided in the Award Agreement; and


 


(3)      If
the Participant incurs a Termination of Employment on account of death or Disability before the Option lapses pursuant to paragraph (1) or
(2), the Incentive Stock Option shall lapse on the earlier of: (i) the scheduled expiration date of the Option; or (ii) 12 months
after the date of the Participant’s Termination of Employment on account of death or Disability. Upon the Participant’s death
or Disability, any Incentive Stock Options exercisable at the Participant’s death or Disability may be exercised by the Participant’s
legal representative or representatives, by the person or persons entitled to do so pursuant to the Participant’s last will and
testament in the case of death, or, if the Participant fails to make testamentary disposition of such Incentive Stock Option or dies intestate,
by the person or persons entitled to receive the Incentive Stock Option pursuant to the applicable laws of descent and distribution.


 


(e)      Individual
Dollar Limitation. The aggregate fair market value (determined as of the time an Award is made and in accordance with Section 422
of the Code) of all shares of Stock with respect to which Incentive Stock Options are first exercisable by a Participant in any one calendar
year may not exceed $100,000 or such other limitation as may then be imposed by Section 422(d) of the Code or any successor
provision. To the extent that Incentive Stock Options are first exercisable by a Participant in excess of such limitation, the excess
shall be considered Nonqualified Stock Options.


 






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(f)      Ten
Percent Owners. An Incentive Stock Option may be granted to any employee who, at the Date of Grant, owns stock possessing more
than 10% of the total combined voting power of all classes of Stock of the Company only if such Option is granted at a price that is not
less than 110% of Fair Market Value on the Date of Grant and the Option is exercisable for no more than 5 years from the Date of Grant.


 


(g)      Right
to Exercise. Except as provided in Section 7.2(d)(3), during a Participant’s lifetime, an Incentive Stock Option
may be exercised only by the Participant.


 


(h)      Limitations
on Number of Shares Subject to Awards. Subject to adjustment as provided in Section 4.4, the maximum number of shares
that may be issued under the Plan as Incentive Stock Options is the numeric limit set forth in Section 4.1.


 


ARTICLE 8

STOCK APPRECIATION RIGHTS


 


8.1      GENERAL.
Subject to the terms and provisions of the Plan, SARs may be granted to one or more Participants upon such terms and conditions, and at
any time and from time to time, as shall be determined by the Committee. The Committee shall have complete discretion in determine the
number of SARs granted to each Participant. SARs are subject to the following terms and conditions:


 


(a)     Base
Value. The base value per share of Stock pursuant to any SAR shall be equal to the Fair Market Value of one share of Stock as
of the Date of Grant unless the Committee sets a higher base value in the Award Agreement.


 


(b)     Exercise
of SAR. SARs shall be exercisable at such times and in such manner, and shall be subject to such restrictions and conditions,
as the Committee shall, in each instance approve, which need not be the same for each grant or for each Participant. The Committee may
prescribe performance or other conditions, if any, that must be satisfied before all or part of a SAR may be exercised.


 


(c)      Term
of SAR. Each SAR shall expire at such time as the Committee shall determine as of the Date of Grant; provided, however, that no
SAR shall be exercisable later than the 10th anniversary of the Date of Grant.


 


(d)     Payment
of SAR Amount. Upon exercise of the SAR, the Participant shall be entitled to receive a payment equal to the amount determined
by multiplying (i) the excess, if any, of the fair market value of a share of Stock on the date of exercise over the base value fixed
by the Committee on the Date of Grant, by (ii) the number of shares with respect to which the SAR is exercised. Payment shall be
made in the manner and at the time specified by the Committee in the Award Agreement. At the discretion of the Committee, the Award Agreement
may provide for payment for the SARs in cash, shares of Stock of equivalent value, or in a combination thereof.


 


(e)     Repricing
of SARs. Notwithstanding any other provision in the Plan to the contrary, without approval of the Company’s shareholders,
a SAR may not be amended, modified or repriced to reduce the exercise price after the Date of Grant. Except as otherwise provided in Section 4.4
with respect to an adjustment in capitalization, a SAR also may not be surrendered in consideration of or exchanged for cash, other Awards
or a new SAR having an exercise price below the exercise price of the SAR being surrendered or exchanged.


 






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(f)      Nontransferability
of SARs. No SAR may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by
the laws of descent and distribution. Further, all SARs granted to a Participant shall be exercisable during his or her lifetime only
by such Participant or his or her legal representative. Notwithstanding the foregoing, the Committee may, in its discretion, permit the
transfer of an SAR to a Family Member, trust or partnership, or to a charitable organization, provided that no value or consideration
is received by the Participant with respect to such transfer.


 


ARTICLE 9

RESTRICTED STOCK AND RESTRICTED STOCK UNIT AWARDS


 


9.1      GRANT
OF RESTRICTED STOCK. Subject to the terms and provisions of the Plan, Restricted Stock may
be granted to one or more Participants upon such terms and conditions, and at any time and from time to time, as shall be determined by
the Committee. Restricted Stock Awards are subject to the following terms and conditions:


 


(a)      Restrictions.
Restricted Stock shall be subject to such conditions and/or restrictions as the Committee may impose (including, without limitation, limitations
on transferability, the right to receive dividends, or the right to vote the Restricted Stock), which need not be the same for each grant
or for each Participant. These restrictions may lapse separately or in combination at such times, in such circumstances, in such installments,
or otherwise, as determined by the Committee. Except as otherwise provided in the Award Agreement, Participants holding shares of Restricted
Stock may not exercise voting rights with respect to the shares of Restricted Stock during the period of restriction.


 


(b)      Forfeiture.
Except as otherwise provided in the Award Agreement, upon a Termination of Employment (or Termination of Service) during the applicable
period of restriction, Restricted Stock that is at that time subject to restrictions shall be forfeited. The Committee may provide in
the Award Agreement that the restrictions or forfeiture conditions relating to a Restricted Stock Award will be waived in whole or in
part in the event of a Termination of Employment (or Termination of Service) resulting from specified causes. The Committee also may waive
in whole or in part any other restrictions or forfeiture conditions relating to a Restricted Stock Award.


 


(c)     Certificates
for Restricted Stock. Restricted Stock granted pursuant to the Plan may be evidenced in such
manner as the Committee shall determine. If certificates representing shares of Restricted Stock are registered in the name of the Participant,
the certificates must bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Stock,
and the Company may retain physical possession of the certificate until such time as all applicable restrictions lapse.


 


9.2      GRANT
OF RESTRICTED STOCK UNITS. Subject to the terms and provisions of the Plan, Restricted Stock Units may be granted to one or more
Participants upon such terms and conditions, and at any time and from time to time, as shall be determined by the Committee. Restricted
Stock Unit Awards are subject to the following terms and conditions:


 






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(a)      Restrictions.
Restricted Stock Unit Awards grant a Participant the right to receive a specified number of shares of Stock, or a cash payment equal to
the fair market value (determined as of a specified date) of a specified number of shares of Stock, subject to such conditions and/or
restrictions as the Committee may impose, which need not be the same for each grant or for each Participant. These restrictions may lapse
separately or in combination at such times, in such circumstances, in such installments, or otherwise, as determined by the Committee.


 


(b)      Forfeiture.
Except as otherwise provided in the Award Agreement, upon a Termination of Employment (or Termination of Service) during the applicable
period of restriction, Restricted Stock Units that are at that time subject to restrictions shall be forfeited. The Committee may provide
in any Award Agreement that restrictions or forfeiture conditions relating to a Restricted Stock Unit Award will be waived in whole or
in part in the event of a Termination of Employment (or Termination of Service) resulting from specified causes. The Committee also may
waive in whole or in part any other restrictions or forfeiture conditions relating to a Restricted Stock Unit Award.


 


(c)      Payment.
Payment for vested Restricted Stock Units shall be made in the manner and at the time designated by the Committee in the Award Agreement.
In the Award Agreement, the Committee may provide that payment will be made in cash or Stock, or in a combination thereof.


 


ARTICLE 10

STOCK GRANT AND STOCK UNIT AWARDS


 


10.1     STOCK
GRANT AWARDS. Subject to the terms and provisions of the Plan, Stock Grant Awards may be granted to one or more Participants
upon such terms and conditions, and at any time and from time to time, as shall be determined by the Committee. A Stock Grant Award grants
the Participant the right to receive (or purchase at such price as determined by the Committee) a designated number of shares of Stock
free of any vesting restrictions. The purchase price, if any, for a Stock Grant Award shall be payable in cash or other form of consideration
acceptable to the Committee. A Stock Grant Award may be granted or sold as described in the preceding sentence in respect of past services
or other valid consideration, or in lieu of any cash compensation due to such Participant.


 


10.2      STOCK
UNIT AWARDS. Subject to the terms and provisions of the Plan, Stock Unit Awards may be granted to one or more Participants upon
such terms and conditions, and at any time and from time to time, as shall be determined by the Committee. A Stock Unit Award grants the
Participant the right to receive a designated number of shares of Stock, or a cash payment equal to the fair market value (determined
as of a specified date) of a designated number of shares of Stock, in the future free of any vesting restrictions. A Stock Unit Award
may be granted as described in the preceding sentence in respect of past services or other valid consideration, or in lieu of any cash
compensation due to such Participant.


 






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ARTICLE 11

PERFORMANCE SHARES; PERFORMANCE UNITS;


AND PERFORMANCE CASH AWARDS


 


11.1      PERFORMANCE
SHARE AWARDS. Subject to the terms and provisions of the Plan, Performance Share Awards may be granted to one or more Participants
upon such terms and conditions, and at any time and from time to time, as shall be determined by the Committee. A Performance Share Award
grants the Participant the right to receive a specified number of shares of Stock depending on the satisfaction of any one or more Performance
Goals. Performance may be measured on a specified date or dates or over any period or periods determined by the Committee. Unless otherwise
provided in the Award Agreement, payment for vested Performance Shares shall be made in Stock.


 


11.2      PERFORMANCE
UNIT AWARDS. Subject to the terms and provisions of the Plan, Performance Unit Awards may be granted to one or more Participants
upon such terms and conditions, and at any time and from time to time, as shall be determined by the Committee. A Performance Unit Award
grants the Participant the right to receive a specified number of shares of Stock or a cash payment equal to the fair market value (determined
as of a specified date) of a specified number of shares of Stock depending on the satisfaction of any one or more Performance Goals. Performance
may be measured on a specified date or dates or over any period or periods determined by the Committee. At the discretion of the Committee,
the Award Agreement may provide for payment for vested Performance Unit Awards in cash, shares of Stock of equivalent cash value, or in
a combination thereof.


 


11.3      PERFORMANCE
CASH AWARDS. Subject to the terms and provisions of the Plan, Performance Cash Awards may be granted to one or more Participants
upon such terms and conditions, and at any time and from time to time, as shall be determined by the Committee. A Performance Cash Award
grants the Participant the right to receive an amount of cash depending on the satisfaction of any one or more Performance Goals. Performance
may be measured on a specified date or dates or over any period or periods determined by the Committee.


 


11.4      PERFORMANCE
GOALS. The Performance Goal or Goals applicable to any Performance Share, Performance Unit or Performance Cash Award shall be
specified by the Committee in the Award Agreement. The Committee shall retain the power to adjust the Performance Goals, the level of
attainment of the Performance Goals or otherwise increase or decrease the amount payable with respect to any Award made pursuant to this
Article 11.


 


ARTICLE 12

CHANGE OF CONTROL


 


12.1      BOARD
DISCRETION. If a Change of Control occurs, the Board shall have the authority and discretion, but shall not have the obligation,
to provide, in the Award Agreement or thereafter, that all or part of outstanding Options, SARs, and other Awards shall become fully exercisable
and all or part of the restrictions on outstanding Awards shall lapse. To the extent that this provision causes Incentive Stock Options
to exceed the dollar limitation set forth in Section 7.2(e), the excess Options shall be deemed to be Nonqualified Stock Options.
In addition, upon, or in anticipation of, a Change of Control, the Committee may: (a) cause all or a part of outstanding Awards to
be cancelled and terminated as of a specified date and give each Participant the right to exercise such Awards during a period of time
as the Committee, in its sole discretion, shall determine; or (b) cause all or a part of outstanding Awards to be cancelled and terminated
as of a specified date in exchange for a payment or right to payment pursuant to the terms and conditions set forth in the Change of Control
transaction documents. With respect to an Award which the Company concludes is subject to (and not excepted from) the requirements of
Section 409A, any actions taken by the Board pursuant to this Article 12 shall be done in compliance with Section 409A
of the Code.


 






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12.2      PARTICIPANT
CONSENT NOT REQUIRED. Nothing in this Article 12 or any other provision of this Plan is intended to provide any Participant
with any right to consent to or object to any transaction that might result in a Change of Control and each provision of this Plan shall
be interpreted in a manner consistent with this intent. Similarly, nothing in this Article 12 or any other provision of this
Plan is intended to provide any Participant with any right to consent to or object to any action taken by the Board pursuant to this Article 12.


 


ARTICLE 13

AMENDMENT, MODIFICATION, AND TERMINATION


 


13.1      AMENDMENT,
MODIFICATION, AND TERMINATION OF THE PLAN. With the approval of the Board, at any time and
from time to time, the Committee may terminate, amend or modify the Plan; provided, however, that any such action of the Committee shall
be subject to the approval of the shareholders to the extent necessary to comply with any applicable law, regulation, or rule of
the stock exchange on which the shares of Stock are listed, quoted or traded. Except as provided in Section 4.4, neither the
Board nor the Committee may, without the approval of shareholders: (a) increase the number of shares available for grant under the
Plan; (b) permit the Committee to grant Options or SARs with an exercise price or base value that is below Fair Market Value on the
Date of Grant; (c) permit the Committee to extend the exercise period for an Option or SAR beyond 10 years from the Date of Grant;
(d) amend Section 7.1(e) to permit the Committee to reprice previously granted Options; (e) amend Section 8.1(e) to
permit the Committee to reprice previously granted SARs; (f) extend the duration of the Plan; or (g) expand the type of awards
available for grant under the Plan or expand the class of participants eligible to participate in the Plan.


 


13.2      AWARDS
PREVIOUSLY GRANTED. Except as provided in the next sentence and subject to Section 12.2,
no termination, amendment, or modification of the Plan or any Award Agreement shall adversely affect in any material way the rights of
the holder of any Award previously granted pursuant to the Plan without the prior written consent of the holder of the Award. The consent
of the holder of a previously granted Award is not needed if the change: (a) is required by law or regulation; (b) does not
adversely affect in any material way the rights of the holder; or (c) is required to cause the benefits under the Plan to comply
with the provisions of Section 409A of the Code. Additional rules relating to amendments to the Plan or any Award Agreement
to assure compliance with Section 409A of the Code are set forth in Section 14.15.


 






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ARTICLE 14

GENERAL PROVISIONS


 


14.1      NO
RIGHTS TO AWARDS. No Participant, employee, or other person shall have any claim to be granted
any Award, and neither the Company nor the Committee is obligated to treat Participants, employees, and other persons uniformly.


 


14.2      NO
SHAREHOLDERS RIGHTS. No Award gives the Participant any of the rights of a shareholder of
the Company unless and until unrestricted shares of Stock are issued to the Participant or the restrictions on any shares previously issued
lapse, except as specifically otherwise provided in the Plan or the Award Agreement.


 


14.3      WITHHOLDING.
The Company or any Subsidiary shall have the authority and the right to deduct or withhold, or require a Participant to remit to the Company,
up to the maximum statutory amount necessary (or such lower amount that will not cause an adverse accounting consequence or cost to the
Company), in the applicable jurisdiction, to satisfy any federal, state, and local taxes required by law to be withheld with respect to
any taxable event concerning a Participant arising as a result of this Plan. With the Committee’s consent as expressed in an Award
Agreement or in any policy adopted by the Committee, the Company may permit the Participant to satisfy a tax withholding requirement by:
(a) directing the Company to withhold shares of Stock to which the Participant is entitled pursuant to the Award in an amount necessary
to satisfy the Company’s applicable federal, state, local or foreign income and employment tax withholding obligations with respect
to such Participant; (b) tendering previously-owned shares of Stock held by the Participant for 6 months or longer to satisfy the
Company’s applicable federal, state, local, or foreign income and employment tax withholding obligations with respect to the Participant
(which holding period may be waived in accordance with Section 7.1(d)); (c) a broker-assisted “cashless”
transaction; or (d) personal check or other cash equivalent acceptable to the Company.


 


14.4      NO
RIGHT TO CONTINUED EMPLOYMENT OR SERVICE. Nothing in the Plan or any Award Agreement shall
interfere with or limit in any way the right of the Company or any Subsidiary to terminate any Participant’s employment or services
at any time, nor confer upon any Participant any right to continue in the employ or service of the Company or any Subsidiary.


 


14.5      UNFUNDED
STATUS OF AWARDS. The Plan is intended to be an “unfunded” plan for incentive
compensation. With respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award
Agreement shall give the Participant any rights that are greater than those of a general creditor of the Company or any Subsidiary. Neither
the Participant nor any other persons shall have any interest in any fund or in any specific asset or assets of the Company or any other
entity by reason of any Award, except to the extent provided hereunder.


 


14.6      RELATIONSHIP
TO OTHER BENEFITS. No payment pursuant to the Plan shall be taken into account in determining
any benefits pursuant to any pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company
or any Subsidiary, except as otherwise provided in such plan.


 






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14.7      EXPENSES.
The expenses of administering the Plan shall be borne by the Company.


 


14.8      TITLES
AND HEADINGS. The titles and headings of the sections in the Plan are for convenience of
reference only and, in the event of any conflict, the text of the Plan, rather than such titles or headings, shall control.


 


14.9      SECURITIES
LAW COMPLIANCE. With respect to any person who is, on the relevant date, obligated to file
reports pursuant to Section 16 of the Exchange Act, transactions pursuant to this Plan are intended to comply with all applicable
conditions of Rule 16b-3 or its successors pursuant to the Exchange Act. Notwithstanding any other provision of the Plan, the Committee
may impose such conditions on the exercise of any Award as may be required to satisfy the requirements of Rule 16b-3 or its successors
pursuant to the Securities Exchange Act. To the extent any provision of the Plan or action by the Committee fails to so comply, it shall
be void to the extent permitted by law and voidable as deemed advisable by the Committee.


 


14.10      GOVERNMENT
AND OTHER REGULATIONS. The obligation of the Company to make payment of awards in Stock or
otherwise shall be subject to all applicable laws, rules and regulations, and to such approvals by government agencies as may be
required. The Company shall be under no obligation to register pursuant to the Securities Act of 1933, any of the shares of Stock paid
pursuant to the Plan. If the shares paid pursuant to the Plan may in certain circumstances be exempt from registration pursuant to the
Securities Act of 1933, the Company may restrict the transfer of such shares in such manner as it deems advisable to ensure the availability
of any such exemption. The Committee shall impose such restrictions on any Award as it may deem advisable, including without limitation,
restrictions under applicable federal securities law, under the requirements of the NASDAQ Listing Rules (or any other exchange upon
which the Stock is then listed), quoted or traded and under any blue sky or state securities laws applicable to such Award.


 


14.11      GOVERNING
LAW. The Plan and all Award Agreements shall be construed in accordance with and governed
by the laws of the jurisdiction of incorporation of the Company.


 


14.12      SUCCESSORS.
All obligations of the Company under the Plan with respect to Awards shall be binding on any successor to the Company, whether the existence
of such successor is the result of a direct or indirect merger, consolidation, purchase of all or substantially all of the business and/or
assets of the Company or otherwise.


 


14.13      SURVIVAL
OF PROVISIONS. The rights, remedies, agreements, obligations and covenants contained in or
made pursuant to this Plan, any Award Agreements and any notices or agreements made in connection with this Plan shall survive the execution
and delivery of such notices and agreements and the delivery and receipt of such shares of Stock.


 


14.14      INDEMNIFICATION.
Each person who is or shall have been a member of the Committee or of the Board, or who has served as the CEO, shall be indemnified and
held harmless by the Company against and from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by
him or her in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he
or she may be involved by reason of any action taken or failure to act under the Plan and against and from any and all amounts paid by
him or her in settlement thereof, with the Company’s approval, or paid by him or her in satisfaction of any judgment in any such
action, suit, or proceeding against him or her, provided he or she shall give the Company an opportunity, at its own expense, to handle
and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification
shall not be exclusive of any other rights of indemnification to which such persons may be entitled under the Company’s Articles
of Incorporation or Bylaws, as a matter of law, or otherwise, or any power that the Company may have to indemnify them or hold them harmless.


 






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14.15      COMPLIANCE
WITH SECTION 409A.


 


(a)      General
Compliance. Some of the types of Awards that may be granted pursuant to the Plan (including, but not necessarily limited to, Restricted
Stock Unit Awards, Performance Share Awards, Performance Unit Awards, Performance Cash Awards and Stock Unit Awards) may be considered
to be “non-qualified deferred compensation” subject to the requirements of Section 409A of the Code. If an Award is subject
to the requirements of Section 409A of the Code, the Company intends (but cannot and does not guarantee) that the Award Agreement
and this Plan comply fully with and meet all of the requirements of Section 409A of the Code or an exception thereto and the Award
Agreement shall include such provisions, in addition to the provisions of this Plan, as may be necessary to assure compliance with Section 409A
of the Code or an exception thereto.


 


(b)      Delay
for Specified Employees. If, at the time of a Participant’s Separation from Service, the Company has any Stock which is
publicly traded on an established securities market or otherwise, and if the Participant is considered to be a Specified Employee, to
the extent any payment for any Award is subject to the requirements of Section 409A of the Code and is payable upon the Participant’s
Separation from Service, such payment shall not commence prior to the first business day following the date which is 6 months after the
Participant’s Separation from Service (or the date of the Participant’s death if earlier than the end of the 6 month period).
Any amounts that would have been distributed during such 6-month period will be distributed on the day following the expiration of the
6 month period.


 


(c)      Prohibition
on Acceleration or Deferral. Under no circumstances may the time or schedule of any payment for any Award that is subject to the
requirements of Section 409A of the Code be accelerated or subject to further deferral except as otherwise permitted or required
by Section 409A of the Code. If the Company fails to make any payment pursuant to the payment provisions applicable to an Award that
is subject to Section 409A of the Code, either intentionally or unintentionally, within the time period specified in such provisions,
but the payment is made within the same calendar year, such payment will be treated as made within the specified time period. In addition,
in the event of a dispute with respect to any payment, such payment may be delayed in accordance with Section 409A of the Code.


 


	 	ACCELERATE DIAGNOSTICS, INC.
	 	 
	 	By:   	 /s/ Steve Reichling   




 






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GLOSSARY


 


(a)      “2012
Plan” means the Company’s 2012 Omnibus Equity Incentive Plan.


 


(b)      “Acquired
Plan” has the meaning ascribed to it in Section 4.5.


 


(c)     “Award”
means any Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Performance Unit, Performance Share, Performance
Cash, Stock Grant, or Stock Unit Award granted to a Participant under the Plan.


 


(d)     “Award
Agreement” means any written agreement, contract, or other instrument or document, including an electronic agreement or document,
evidencing an Award.


 


(e)      “Board”
means the Board of Directors of the Company.


 


(f)      “Change
of Control” means and shall be deemed to have occurred as of the date of the occurrence of any of the following events:


 


(1)      Any
person, or more than one person acting as a group (as determined in accordance with Treasury Regulation § 1.409A-3(i)(5)), acquires
(or has acquired during the 12-month period ending on the most recent acquisition by such person or persons) ownership of stock of Company
possessing 40% or more of the total voting power of the stock of Company, unless such person is, or shall be, a trustee or other fiduciary
holding securities under an employee benefit plan of Company or a corporation owned, directly or indirectly, by the shareholders of Company
in substantially the same proportion as their ownership of stock of Company;


 


(2)      The
sale, transfer or other disposition of all or substantially all of the assets of the Company to a person other than the Company or a Subsidiary;
or


 


(3)      During
any period of 12 consecutive months, excluding any period prior to the Effective Date, the majority of the members of the Board is replaced
by directors whose appointment or election is not endorsed by a majority of the members of the Board before the date of such appointment
or election.


 


Notwithstanding the foregoing,
except as otherwise provided in an Award Agreement, a Change of Control shall not occur for purposes of this Plan in the case of Awards
that are subject to the requirements of Section 409A of the Code unless such Change of Control constitutes a “change in control
event” as defined in Section 409A of the Code.


 


(g)      “Chief
Executive Officer” or “CEO” means the President and Chief Executive Officer of the Company.


 


(h)      “Code”
means the Internal Revenue Code of 1986, as amended. All references to the Code shall be interpreted to include a reference to any applicable
rules, regulations, rulings or other official guidance promulgated pursuant to such section of the Code.


 






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(i)      “Committee”
means the Compensation Committee of the Board or a subcommittee thereof, or such other committee of the Board designated by the Board
to administer the Plan pursuant to Section 3.1.


 


(j)      “Company”
means Accelerate Diagnostics, Inc., a Delaware corporation and any successor corporation.


 


(k)      “Consultant”
means any consultant or advisor or independent contractor who is a natural person and who provides services to the Company or any Subsidiary,
so long as such person: (i) renders bona fide services that are not in connection with the offer and sale of the Company’s
securities in a capital raising transaction; (ii) does not directly or indirectly promote or maintain a market for the Company’s
securities; and (iii) otherwise qualifies as a consultant under the applicable rules of the SEC for registration of shares of
stock on a Form S-8 registration statement.


 


(l)      “Date
of Grant” means, as determined by the Committee (or CEO with respect to an Award granted pursuant to Section 3.5),
the latest to occur of: (i) the date as of which the Committee (or CEO) approves an Award; (ii) the date on which an Award to
a prospective employee, officer, or member of the Board first becomes effective; or (iii) such other date as may be specified in
the Award Agreement.


 


(m)      “Disability”
means “disability” as that term is defined in Section 22(e)(3) of the Code unless a different definition is provided
in the Award Agreement.


 


(n)      “Effective
Date” has the meaning ascribed to it in Section 2.1.


 


(o)      “Exchange
Act” means the Securities Exchange Act of 1934, as amended. All references to the Exchange Act shall be interpreted to include
a reference to any applicable rules, regulations, rulings or other official guidance promulgated pursuant to such section of the Exchange
Act.


 


(p)      “ERISA”
means the Employee Retirement Income Security Act of 1974, as amended.


 


(q)      “Fair
Market Value” means, as of any given date, the closing price for the Stock as reported on the NASDAQ (or any other exchange
upon which the Stock is then listed) on that date or the closing price for the Stock on the immediately preceding date or, if no such
prices are reported on either such date, the closing price on the last day on which such prices were reported.


 


(r)      “Family
Member” means a Participant’s spouse and any parent, stepparent, grandparent, child, stepchild, or grandchild, including
adoptive relationships, a trust or any other entity in which these persons (or the Participant) have more than 50% of the beneficial interest
or voting interest, or any other person or entity who is identified as a “family member” under the applicable rules of
the SEC for registration of shares of stock on a Form S-8 registration statement.


 


(s)      “Incentive
Stock Option” means an Option granted pursuant to and in compliance with Section 7.2.


 






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(t)      “Nonqualified
Stock Option” means an Option granted pursuant to Section 7.1 that is not intended to be an Incentive Stock Option.


 


(u)      “Option”
means a right granted to a Participant pursuant to Article 7. An Option may be either an Incentive Stock Option or a Nonqualified
Stock Option.


 


(v)      “Participant”
means a person who has been granted an Award.


 


(w)      “Performance
Cash” means a right granted to a Participant pursuant to Section 11.3.


 


(x)      “Performance
Goals” means, for a Performance Period, the goals established in writing by the Committee for the Performance Period. The Performance
Goals may be expressed in terms of overall Company performance or the performance of a division, business unit, plant, or an individual.
The Performance Goals may be stated in terms of absolute levels or relative to another company or companies or to an index or indices.


 


(y)      “Performance
Period” means the one or more periods of time, which may be of varying and overlapping durations, as the Committee may select,
over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Participant’s right
to, and the payment of, an Award.


 


(z)      “Performance
Share” means a right granted to a Participant pursuant to Section 11.1.


 


(aa)      “Performance
Unit” means a right granted to a Participant pursuant to Section 11.2.


 


(bb)      “Plan”
means this Accelerate Diagnostics, Inc. 2022 Omnibus Equity Incentive Plan, as it may be amended from time to time.


 


(cc)      “Prior
Plans” means the 2012 Plan, Company’s 2004 Omnibus Stock Option Plan, the Company’s 1996 Nonqualified Stock Option
Plan, and any other similar plan adopted by the Company at any time in the past, which has not yet lapsed or expired.


 


(dd)      “Restricted
Stock” means Stock granted to a Participant pursuant to Section 9.1.


 


(ee)      “Restricted
Stock Unit” means a right granted to a Participant pursuant to Section 9.2.


 


(ff)      “Securities
Act” means the Securities Act of 1933, as amended. All references to the Securities Act shall be interpreted to include a reference
to any applicable rules, regulations, rulings or other official guidance promulgated pursuant to such section of the Securities Act.


 


(gg)      “Separation
from Service” is a term that applies only in the context of an Award that the Company concludes is subject to Section 409A
of the Code. In that limited context, the term “Separation from Service” means either: (i) the termination of a Participant’s
employment with the Company and all Subsidiaries due to death, retirement or other reasons; or (ii) a permanent reduction in the
level of bona fide services the Participant provides to the Company and all Subsidiaries to an amount that is less than 20% of the average
level of bona fide services the Participant provided to the Company and all Subsidiaries in the immediately preceding 36 months, with
the level of bona fide service calculated in accordance with Treasury Regulation Section 1.409A-1(h)(1)(ii).


 






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Solely for purposes of determining
whether a Participant has a “Separation from Service,” a Participant’s employment relationship is treated as continuing
while the Participant is on military leave, medical or sick leave, or other bona fide leave of absence (if the period of such leave does
not exceed 6 months, or if longer, so long as the Participant’s right to reemployment with the Company or a Subsidiary is provided
either by statute or contract). If the Participant’s period of leave exceeds 6 months and the Participant’s right to reemployment
is not provided either by statute or by contract, the employment relationship is deemed to terminate on the first day immediately following
the expiration of such 6-month period. Whether a Termination of Employment has occurred will be determined based on all of the facts and
circumstances and in accordance with Section 409A of the Code.


 


In the case of a non-employee
member of the Board, Separation from Service means that such member has ceased to be a member of the Board. Whether an independent contractor
consultant has incurred a Separation from Service will be determined in accordance with Treasury Regulation Section 1.409A-1(h).


 


(hh)      “Specified
Employee” means certain officers and highly compensated employees of the Company as defined in Treasury Regulation Section 1.409A-1(i).


 


(ii)         “Stock”
means the common stock of the Company or any security that may be substituted for Stock or into which Stock may be changed pursuant to
Article 4.


 


(jj)          “Stock
Appreciation Right” or “SAR” means a right granted to a Participant pursuant to Article 8.


 


(kk)        “Stock
Grant Award” means the grant of Stock to a Participant pursuant to Section 10.1.


 


(ll)          “Stock
Unit” means a right granted to a Participant pursuant to Section 10.2.


 


(mm)     “Subsidiary”
means any subsidiary or parent of the Company that is: (i) a member of a “controlled group of corporations” (within the
meaning of Section 414(b) of the Code as modified by Section 415(h) of the Code) that includes the Company as a member
of the group; or (ii) a member of a group of trades or businesses under common control (within the meaning of Section 414(c) of
the Code as modified by Section 415(h) of the Code) that includes the Company as a member of the group. In applying Section 1563(a)(1),
(2) and (3) of the Code for purposes of determining the members of a controlled group of corporations under Section 414(b) of
the Code, the language “at least 50%” shall be used instead of “at least 80%” each place it appears in Section 1563(a)(1),
(2) and (3) and in applying Treasury Regulation Section 1.414(c)-2 for purposes of determining the members of a group of
trades or businesses (whether or not incorporated) that are under common control for purposes of Section 414(c) of the Code,
the language “at least 50%” shall be used instead of “at least 80%” each place it appears in Treasury Regulation
Section 1.414(c)-2.


 






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(nn)      “Termination
of Employment” or “Termination of Service” means the cessation of performance of services for the Company.
For this purpose, the transfer of a Participant among the Company and any Subsidiary, or transfer from a position as a member of the Board
to Employee, shall not be considered a Termination of Service or a Termination of Employment with the Company. In the context of an Award
that is subject to the requirements of Section 409A of the Code, the terms “Termination of Service” and “Termination
of Employment” mean a Separation from Service.


 






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