HELD BY THE OPTIONEE MAY BE
EXERCISED BY HIS OR HER LEGAL REPRESENTATIVE OR LEGATEE FOR A PERIOD OF TWELVE
(12) MONTHS FROM THE DATE OF DEATH OR UNTIL THE EXPIRATION DATE, IF EARLIER.
(B)
OTHER TERMINATION.
IF THE OPTIONEE CEASES TO BE A DIRECTOR FOR
ANY REASON OTHER THAN DEATH, ANY STOCK OPTION HELD BY THE OPTIONEE MAY BE
EXERCISED TO THE EXTENT EXERCISABLE ON THE DATE OPTIONEE CEASES TO BE A DIRECTOR
FOR A PERIOD OF THREE (3) MONTHS FROM THE DATE OF TERMINATION OR UNTIL THE
EXPIRATION DATE, IF EARLIER.
4.
INCORPORATION OF PLAN.
NOTWITHSTANDING
ANYTHING HEREIN TO THE CONTRARY, THIS STOCK OPTION SHALL BE SUBJECT TO AND
GOVERNED BY ALL THE TERMS AND CONDITIONS OF THE PLAN.
CAPITALIZED TERMS IN THIS
AGREEMENT SHALL HAVE THE MEANING SPECIFIED IN THE PLAN, UNLESS A DIFFERENT
MEANING IS SPECIFIED HEREIN.
5.
TRANSFERABILITY.
THIS AGREEMENT IS
PERSONAL TO THE OPTIONEE, IS NON-ASSIGNABLE AND IS NOT TRANSFERABLE IN ANY
MANNER, BY OPERATION OF LAW OR OTHERWISE, OTHER THAN BY WILL OR THE LAWS OF
DESCENT AND DISTRIBUTION.
THIS STOCK OPTION IS EXERCISABLE, DURING THE
OPTIONEE'S LIFETIME, ONLY THE OPTIONEE, AND THEREAFTER, ONLY BY THE OPTIONEE'S
LEGAL REPRESENTATIVE OR LEGATEE.
6.
MISCELLANEOUS
(A)
NOTICE HEREUNDER SHALL BE GIVEN TO THE COMPANY AT ITS PRINCIPAL PLACE OF
BUSINESS, AND SHALL BE GIVEN TO THE OPTIONEE AT THE ADDRESS SET FORTH BELOW, OR
IN EITHER CASE AT SUCH OTHER ADDRESS AS ONE PARTY SUBSEQUENTLY FURNISH TO THE
OTHER PARTY IN WRITING.
(B)
THIS STOCK OPTION DOES NOT CONFER UPON THE OPTIONEE ANY RIGHTS WITH
RESPECT TO CONTINUANCE AS A DIRECTOR.
(C)
PURSUANT TO SECTION 15 OF THE PLAN, THE ADMINISTRATOR MAY AT ANY TIME
AMEND OR CANCEL ANY OUTSTANDING PORTION OF THIS STOCK OPTION, BUT NO SUCH ACTION
MAY BE TAKEN WHICH ADVERSELY AFFECTS THE OPTIONEE'S RIGHTS UNDER THIS AGREEMENT
WITHOUT THE OPTIONEE'S CONSENT.
HARVARD BIOSCIENCE, INC.
By:
Name:
Bryce Chicoyne
Title:
Chief Financial Officer
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The foregoing Agreement is hereby accepted and the terms and conditions thereof
hereby agreed to by the undersigned.
Dated:
Optionee's Signature
Optionee's name and address:
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