Document:

FORM OF NON-QUALIFIED STOCK OPTION AGREEMENT

 

Exhibit 10.5

PEDIATRIX MEDICAL GROUP, INC.

NONQUALIFIED STOCK OPTION AGREEMENT

FOR

[ insert name of optionee here ]

Agreement

     1. Grant of Option. Pediatrix Medical Group, Inc. (the “Company”) hereby grants, as
of [ ] (“Date of Grant”), to [ ] (the “Optionee”) an
option (the “Option”) to purchase up to [ ] shares of the Company’s Common Stock, $.01 par
value per share (the “Shares”), at an exercise price per share equal to $[ ] (the
“Exercise Price”). The Option shall be subject to the terms and conditions set forth herein. The
Option was issued pursuant to the Company’s 2004 Incentive Compensation Plan (the “Plan”), which is
incorporated herein for all purposes. The Option is a Nonqualified Stock Option, and not an
Incentive Stock Option. The Optionee hereby acknowledges receipt of a copy of the Plan and agrees
to be bound by all of the terms and conditions hereof and thereof and all applicable laws and
regulations.

     2. Definitions. Unless otherwise provided herein, terms used herein that are defined
in the Plan and not defined herein shall have the meanings attributed thereto in the Plan.

     3. Exercise Schedule. Except as otherwise provided in Sections 6 or 9 of this
Agreement, or in the Plan, the Option is exercisable in installments as provided below, which shall
be cumulative. To the extent that the Option has become exercisable with respect to a percentage of
Shares as provided below, the Option may thereafter be exercised by the Optionee, in whole or in
part, at any time or from time to time prior to the expiration of the Option as provided herein.
The following table indicates each date (the “Vesting Date”) upon which the Optionee shall be
entitled to exercise the Option with respect to the percentage of Shares granted as indicated
beside the date, provided that the Continuous Service of the Optionee continues through and on the
applicable Vesting Date:

	 	 	 	 	 
	Percentage of Shares	 	Vesting Date	 
	     
	 	 	     	 

     Except as otherwise specifically provided herein, there shall be no proportionate or partial
vesting in the periods prior to each Vesting Date, and all vesting shall occur only on the
appropriate Vesting Date. Upon the termination of the Optionee’s Continuous Service with the
Company and its Related Entities, any unvested portion of the Option shall terminate and be null
and void.

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     4. Method of Exercise. The vested portion of this Option shall be exercisable in
whole or in part in accordance with the exercise schedule set forth in Section 3 hereof by written
notice which shall state the election to exercise the Option, the number of Shares in respect of
which the Option is being exercised, and such other representations and agreements as to the
holder’s investment intent with respect to such Shares as may be required by the Company pursuant
to the provisions of the Plan. Such written notice shall be signed by the Optionee and shall be
delivered in person or by certified mail to the Secretary of the Company. The written notice shall
be accompanied by payment of the Exercise Price. This Option shall be deemed to be exercised after
both (a) receipt by the Company of such written notice accompanied by the Exercise Price and (b)
arrangements that are satisfactory to the Committee in its sole discretion have been made for
Optionee’s payment to the Company of the amount, if any, that is necessary to be withheld in
accordance with applicable Federal or state withholding requirements. No Shares will be issued
pursuant to the Option unless and until such issuance and such exercise shall comply with all
relevant provisions of applicable law, including the requirements of any stock exchange upon which
the Shares then may be traded.

     5. Method of Payment. Payment of the Exercise Price shall be by any of the
following, or a combination thereof, at the election of the Optionee: (a) cash; (b) check; (c)
pursuant to a “cashless exercise” procedure, by delivery of a properly executed exercise notice
together with such other documentation, and subject to such guidelines, as the Committee shall
require to effect an exercise of the Option and delivery to the Company by a licensed broker
acceptable to the Company of proceeds from the sale of Shares (or to the extent permitted by the
Committee, by a margin loan), sufficient to pay the Exercise Price and any applicable income or
employment taxes; or (d) such other consideration or in such other manner as may be determined by
the Committee in its absolute discretion.

     6. Termination of Option. Except as otherwise provided in any Employment Agreement
between the Company or a Related Entity and the Optionee, any unexercised portion of the Option
shall automatically and without notice terminate and become null and void at the time of the
earliest to occur of the following:

          (i) unless the Committee otherwise determines in writing in its sole discretion, three months
after the date on which the Optionee’s Continuous Service with the Company and its Related Entities
is terminated for any reason other than by reason of (A) termination of the Optionee’s Continuous
Service by the Company or a Related Entity for Cause, (B) a Disability of the Optionee, or (C) the
Optionee’s death;

          (ii) immediately upon the termination of the Optionee’s Continuous Service with the Company
and its Related Entities for Cause;

          (iii) twelve months after the date on which the Optionee’s Continuous Service with the Company
and its Related Entities is terminated by reason of a Disability as determined by a medical doctor
satisfactory to the Committee;

          (iv) twelve months after the date of termination of the Optionee’s Continuous Service with the
Company and its Related Entities by reason of the death of the Optionee (or, if later, three months
after the date on which the Optionee shall die if such death

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shall occur during the one year period specified in paragraph (iii) of this Section 6); or

          (v) the [tenth] anniversary of the date as of which the Option is granted.

     7. Transferability. The Option shall not be pledged, hypothecated or otherwise
encumbered or subject to any lien, obligation or liability of the Optionee to any party (other than
the Company or any Related Entity), or assigned or transferred by the Optionee otherwise than by
will or the laws of descent and distribution or to a Beneficiary upon the death of the Optionee,
and during the lifetime of the Optionee, the Option only may be exercisable by the Optionee or his
or her guardian or legal representative; except that the Option may be transferred to one or more
Beneficiaries or other transferees during the lifetime of the Optionee, and may be exercised by
such transferees in accordance with the terms of this Agreement, but only if and to the extent such
transfers are permitted by the Committee (and subject to any terms and conditions which the
Committee may impose thereon). A Beneficiary or other person claiming any rights under the Plan or
this Agreement from or through the Optionee shall be subject to all of the terms and conditions of
the Plan and this Agreement, except as otherwise determined by the Committee, and to any additional
terms and conditions deemed necessary or appropriate by the Committee.

     8. No Rights of Stockholders. Neither the Optionee nor any personal representative
(or beneficiary) shall be, or shall have any of the rights and privileges of, a stockholder of the
Company with respect to any shares of Stock purchasable or issuable upon the exercise of the
Option, in whole or in part, prior to the date of exercise of the Option.

     9. Acceleration of Exercisability of Option.

          (a) Unless, and only to the extent, otherwise provided in any Employment Agreement between the
Optionee and the Company or any Related Entity, or as otherwise determined by the Committee, in its
sole and absolute discretion, this Option shall not become immediately fully exercisable in the
event that, prior to the termination of the Option pursuant to Section 6 hereof, (i) the Company
exercises its discretion to provide a cancellation notice with respect to the Option pursuant to
Section 6(b)(ii) hereof, or (ii) the Option is terminated pursuant to Section 6(b)(i) hereof.

          (b) Unless, and only to the extent, otherwise provided in any Employment Agreement between the
Optionee and the Company or any Related Entity, or as otherwise determined by the Committee, in its
sole and absolute discretion, this Option shall not become immediately fully exercisable in the
event that, prior to the termination of the Option pursuant to Section 6 hereof, and during the
Optionee’s Continuous Service, there is a “Change in Control”, as defined in Section 9(b) of the
Plan.

     10. No Right to Continued Employment. Neither the Option nor this Agreement shall
confer upon the Optionee any right to continued employment or service with the Company.

     11. Law Governing. This Agreement shall be governed in accordance with and governed
by the internal laws of the State of Florida.

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     12. Interpretation / Provisions of Plan Control. This Agreement is subject to all of
the terms, conditions and provisions of the Plan, including, without limitation, the amendment
provisions thereof, and to such rules, regulations and interpretations relating to the Plan adopted
by the Committee as may be in effect from time to time. If and to the extent that this Agreement
conflicts or is inconsistent with the terms, conditions and provisions of the Plan, the Plan shall
control, and this Agreement shall be deemed to be modified accordingly. The Optionee accepts the
Option subject to all of the terms and provisions of the Plan and this Agreement. The undersigned
Optionee hereby accepts as binding, conclusive and final all decisions or interpretations of the
Committee upon any questions arising under the Plan and this Agreement, unless shown to have been
made in an arbitrary and capricious manner.

     13. Notices. Any notice under this Agreement shall be in writing and shall be deemed
to have been duly given when delivered personally or when deposited in the United States mail,
registered, postage prepaid, and addressed, in the case of the Company, to the Company’s Secretary
at 1301 Concord Terrace, Sunrise, FL 33323, or if the Company should move its principal office, to
such principal office, and, in the case of the Optionee, to the Optionee’s last permanent address
as shown on the Company’s records, subject to the right of either party to designate some other
address at any time hereafter in a notice satisfying the requirements of this Section.

     [14. Restrictive Covenants and Return of Option Gains. In consideration for the
Company’s grant of this Option to the Optionee, and for the valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Optionee agrees to the following:

          (a) In the event that (i) the Optionee exercises any portion of this Option and the Optionee’s
Continuous Service terminates for any reason whatsoever within twelve (12) months after such
exercise, and (ii) during the Optionee’s Continuous Service or within twelve (12) months after
termination of such Continuous Service, the Optionee violates any non-competition,
non-solicitation, or confidentiality agreement with the Company or any Related Entity, including
without limitation, any agreements contained in Section (b) and (c) of this Section 15, the
Committee in its sole discretion, may require the Optionee to return the Option Gain to the Company
upon written demand. “Option Gain” shall be defined as the gain represented by the Fair Market
Value of a Share on the date of exercise less the Exercise Price, multiplied by the number of
Shares that the Optionee purchased as a result of the exercise of the Option, without regard to any
subsequent market price decrease or increase.

          (b) The Optionee shall hold in a fiduciary capacity for the benefit of the Company all
information, knowledge or data relating to the Company or any Related Entity and their respective
businesses which the Company or any Related Entity consider to be proprietary, trade secret or
confidential, that the Optionee obtains or has previously obtained during his or her Continuous
Service and that is not public knowledge (other than as a result of the Optionee’s violation of
this provision) (the “Confidential Information”). The Optionee shall not directly or indirectly
use any Confidential Information for any purposes not associated with the activities of the Company
or any Related Entity, or communicate, divulge or disseminate Confidential Information to any
person or entity not authorized by the Company or any Related Entity to receive it at any time
during or after termination of Optionee’s Continuous Service, except with the prior written consent
of the Company or as otherwise required by law or legal process.

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          (c) For a period of nine months after the termination of the Optionee’s Continuous Service,
for any reason, voluntary or involuntary, the Optionee shall not, without the written consent of
the Company, directly or indirectly solicit, entice, persuade or induce any person to leave the
Continuous Service, or employ or attempt to employ or enter into any contractual arrangement with
any employee or former employee (other than a former employee who has not been employed by the
Company or any Related Entity for a period in excess of six months), of the Company or any Related
Entity (other than persons employed in a clerical, non-professional or non-management position).

          (d) The Optionee understands and agrees that the restrictions set forth above, including,
without limitation, the duration and the business scope of such restrictions, are reasonable and
necessary to protect the legal interests of the Company and the Related Entities. The Optionee
further agrees that the Company and the Related Entities shall be entitled to seek injunctive
relief in the event of any actual or threatened breach of such restrictions. If any provision of
this Section 14 is determined to be unenforceable by any court, then such provision shall be
modified or omitted only to the extent necessary to make the remaining provisions of this Section
14 enforceable.]

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     IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the [ ] day of [
], [ ].

	 	 	 	 	 
	 	COMPANY:

PEDIATRIX MEDICAL GROUP, INC.

 	 
	 	By:  	 	 
	 	 	[                         ] 	 
	 	 	 	 
	 

     The Optionee acknowledges receipt of a copy of the Plan and represents that he or she has
reviewed the provisions of the Plan and this Option Agreement in their entirety, is familiar with
and understands their terms and provisions, and hereby accepts this Option subject to all of the
terms and provisions of the Plan and the Option Agreement. The Optionee further represents that he
or she has had an opportunity to obtain the advice of counsel prior to executing this Option
Agreement.

	 	 	 	 	 
	Dated: _________________       	OPTIONEE:

 	 
	 	By:  	 	 
	 	 	 	 
	 	 	[                         ] 	 
	 

6FORM OF RESTRICTED STOCK AGREEMENT

 

Exhibit 10.6

PEDIATRIX MEDICAL GROUP, INC.

RESTRICTED STOCK AGREEMENT

FOR

[Insert name of Recipient here]

     1. Grant of Restricted Stock. The Committee hereby grants, as of ___
(the “Date of Grant”), to the Recipient, ___shares of restricted common stock, par value
$.01 per share, of the Company (collectively the “Restricted Stock”). The Restricted Stock shall be
subject to the terms, conditions and restrictions set forth in this Agreement. The Restricted
Stock was issued pursuant to the Company’s 2004 Incentive Compensation Plan (the “Plan”), which is
incorporated herein for all purposes. The Optionee hereby acknowledges receipt of a copy of the
Plan and agrees to be bound by all of the terms and conditions hereof and thereof and all
applicable laws and regulations. Unless otherwise provided herein, terms used herein that are
defined in the Plan and not defined herein shall have the meanings attributed thereto in the Plan.

     2. Vesting of Restricted Stock.

          (a) Except as otherwise provided in Section 2(b) hereof, the shares of Restricted Stock shall
become vested in the following amounts, at the following times and upon the following conditions,
provided that the Continuous Service of the Recipient continues through and on the applicable
Vesting Date:

	 	 	 
	Number of Shares of Restricted Stock	 	Vesting Date
	[            ]
	 	[            ]

	 	 	 
	[            ]
	 	[            ]

	 	 	 
	[            ]
	 	[            ]

	 	 	 
	[            ]
	 	[            ]

	 	 	 
	[            ]
	 	[            ]

          There shall be no proportionate or partial vesting of shares of Restricted Stock in or during
the months, days or periods prior to each Vesting Date, and all vesting of shares of Restricted
Stock shall occur only on the applicable Vesting Date. Upon the termination or cessation of
Recipient’s Continuous Service, for any reason whatsoever, any portion of the Restricted Stock
which is not yet then vested, and which does not then become vested pursuant to this Section 2,
shall automatically and without notice terminate, be forfeited and be and become null and void.

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          (b) The Restricted Stock also shall become vested at such earlier times, if any, as shall be
provided in any Employment Agreement between the Recipient and the Company or any Related Entity,
or as shall otherwise be determined by the Committee in its sole and absolute discretion.

          (c) For purposes of this Agreement, the following terms shall have the meanings indicated:

               (i) "Non-Vested Shares” means any portion of the Restricted Stock subject to this Agreement
that has not become vested pursuant to this Section 2.

               (ii) "Vested Shares” means any portion of the Restricted Stock subject to this Agreement that
is and has become vested pursuant to this Section 2.

     3. Delivery of Restricted Stock.

          (a) One or more stock certificates evidencing the Restricted Stock shall be issued in the name
of the Recipient but shall be held and retained by the Records Administrator of the Company until
the date (the “Applicable Date”) on which the shares (or a portion thereof) subject to this
Restricted Stock award become Vested Shares pursuant to Section 2 hereof, subject to the provisions
of Section 4 hereof. All such stock certificates shall bear the following legends, along with such
other legends that the Board or the Committee shall deem necessary and appropriate or which are
otherwise required or indicated pursuant to any applicable stockholders agreement:

     THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO SUBSTANTIAL
VESTING AND OTHER RESTRICTIONS AS SET FORTH IN THE RESTRICTED STOCK
AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THE SHARES, A COPY
OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH
RESTRICTIONS ARE BINDING ON TRANSFEREES OF THESE SHARES, AND INCLUDE VESTING
CONDITIONS WHICH MAY RESULT IN THE COMPLETE FORFEITURE OF THE SHARES.

          (b) The Recipient shall deposit with the Company stock powers or other instruments of transfer
or assignment, duly endorsed in blank with signature(s) guaranteed, corresponding to each
certificate representing shares of Restricted Stock until such shares become Vested Shares. If the
Recipient shall fail to provide the Company with any such stock power or other instrument of
transfer or assignment, the Recipient hereby irrevocably appoints the Secretary of the Company as
his attorney-in-fact, with full power of appointment and substitution, to execute and deliver any
such power or other instrument which may be necessary to effectuate the transfer of the Restricted
Stock (or assignment of distributions thereon) on the books and records of the Company.

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          (c) On or after each Applicable Date, upon written request to the Company by the Recipient,
the Company shall promptly cause a new certificate or certificates to be issued for and with
respect to all shares that become Vested Shares on that Applicable Date, which certificate(s) shall
be delivered to the Recipient as soon as administratively practicable after the date of receipt by
the Company of the Recipient’s written request. The new certificate or certificates shall continue
to bear those legends and endorsements that the Company shall deem necessary or appropriate
(including those relating to restrictions on transferability and/or obligations and restrictions
under the Securities Laws).

     4. Termination of Employment. If the Recipient’s Continuous Service with the Company
is terminated for any reason, any Non-Vested Shares (other than any such Shares that become vested
pursuant to Section 2 hereof on account of such termination) shall be forfeited immediately upon
such termination of Continuous Service and shall revert back to the Company without any payment to
the Recipient. The Committee shall have the power and authority to enforce on behalf of the
Company any rights of the Company under this Agreement in the event of the Recipient’s forfeiture
of Non-Vested Shares pursuant to this Section 4.

     5. Rights with Respect to Restricted Stock.

          (a) Except as otherwise provided in this Agreement, the Recipient shall have, with respect to
all of the shares of Restricted Stock, whether Vested Shares or Non-Vested Shares, all of the
rights of a holder of shares of common stock of the Company, including without limitation (i) the
right to vote such Restricted Stock, (ii) the right to receive dividends, if any, as may be
declared on the Restricted Stock from time to time, and (iii) the rights available to all holders
of shares of common stock of the Company upon any merger, consolidation, reorganization,
liquidation or dissolution, stock split-up, stock dividend or recapitalization undertaken by the
Company; provided, however, that all of such rights shall be subject to the terms,
provisions, conditions and restrictions set forth in this Agreement (including without limitation
conditions under which all such rights shall be forfeited). Any shares of Stock issued to the
Recipient as a dividend with respect to shares of Restricted Stock shall have the same status and
bear the same legend as the shares of Restricted Stock and shall be held by the Company, if the
shares of Restricted Stock that such dividend is attributed to is being so held, unless otherwise
determined by the Committee. [In addition, notwithstanding any provision to the contrary herein,
any cash dividends declared with respect to shares of Restricted Stock subject to this Agreement
shall be held in escrow by the Committee until such time as the shares of Restricted Stock that
such cash dividends are attributed to shall become Vested Shares, and in the event that such shares
of Restricted Stock are subsequently forfeited, the cash dividends attributable to such portion
shall be forfeited as well. ]

          (b) If at any time while this Agreement is in effect (or shares granted hereunder shall be or
remain unvested while Recipient’s Continuous Service continues and has not yet terminated or ceased
for any reason), there shall be any increase or decrease in the number of issued and outstanding
shares of Stock of the Company through the declaration of a stock dividend or through any
recapitalization resulting in a stock split-up, combination or exchange of such shares, then and in
that event, the Board or the Committee shall make any

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adjustments it deems fair and appropriate, in view of such change, in the number of shares of
Restricted Stock then subject to this Agreement. If any such adjustment shall result in a
fractional share, such fraction shall be disregarded.

          (c) Notwithstanding any term or provision of this Agreement to the contrary, the existence of
this Agreement, or of any outstanding Restricted Stock awarded hereunder, shall not affect in any
manner the right, power or authority of the Company to make, authorize or consummate: (i) any or
all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital
structure or its business; (ii) any merger, consolidation or similar transaction by or of the
Company; (iii) any offer, issue or sale by the Company of any capital stock of the Company,
including any equity or debt securities, or preferred or preference stock that would rank prior to
or on parity with the Restricted Stock and/or that would include, have or possess other rights,
benefits and/or preferences superior to those that the Restricted Stock includes, has or possesses,
or any warrants, options or rights with respect to any of the foregoing; (iv) the dissolution or
liquidation of the Company; (v) any sale, transfer or assignment of all or any part of the stock,
assets or business of the Company; or (vi) any other corporate transaction, act or proceeding
(whether of a similar character or otherwise).

     6. Non-Transferability of Non-Vested Shares. Non-Vested Shares shall not be pledged,
hypothecated or otherwise encumbered or subject to any lien, obligation or liability of the
Recipient to any party (other than the Company or Related Entity), or assigned or transferred by
the Recipient otherwise than by will or the laws of descent and distribution or to a Beneficiary
upon the death of the Recipient. A Beneficiary or other person claiming any rights under the Plan
or this Agreement from or through the Recipient shall be subject to all of the terms and conditions
of the Plan and this Agreement, except as otherwise determined by the Committee, and to any
additional terms and conditions deemed necessary or appropriate by the Committee.

     7. Tax Matters; Section 83(b) Election.

          (a) If the Recipient properly elects, within thirty (30) days of the Date of Grant, to include
in gross income for federal income tax purposes an amount equal to the fair market value (as of the
Date of Grant) of the Restricted Stock pursuant to Section 83(b) of the Internal Revenue Code of
1986, as amended (the “Code”), the Recipient shall make arrangements satisfactory to the Company to
pay to the Company any federal, state or local income taxes required to be withheld with respect to
the Restricted Stock. If the Recipient shall fail to make such tax payments as are required, the
Company shall, to the extent permitted by law, have the right to deduct from any payment of any
kind otherwise due to the Recipient any federal, state or local taxes of any kind required by law
to be withheld with respect to the Restricted Stock.

          (b) If the Recipient does not properly make the election described in Subsection 7(a) above,
the Recipient shall, no later than the date or dates as of which the restrictions referred to in
this Agreement hereof shall lapse, pay to the Company, or make arrangements satisfactory to the
Committee for payment of, any federal, state or local taxes of any kind required by law to be
withheld with respect to the Restricted Stock (including without limitation the vesting thereof),
and the Company shall, to the extent permitted by law, have the

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right to deduct from any payment of any kind otherwise due to Recipient any federal, state, or
local taxes of any kind required by law to be withheld with respect to the Restricted Stock.

          (c) Tax consequences on the Recipient (including without limitation federal, state, local and
foreign income tax consequences) with respect to the Restricted Stock (including without limitation
the grant, vesting and/or forfeiture thereof) are the sole responsibility of the Recipient. The
Recipient shall consult with his or her own personal accountant(s) and/or tax advisor(s) regarding
these matters, the making of a Section 83(b) election, and the Recipient’s filing, withholding and
payment (or tax liability) obligations.

     8. Amendment, Modification & Assignment; Non-Transferability. This Agreement may only
be modified or amended in a writing signed by the parties hereto. No promises, assurances,
commitments, agreements, undertakings or representations, whether oral, written, electronic or
otherwise, and whether express or implied, with respect to the subject matter hereof, have been
made by either party which are not set forth expressly in this Agreement. Unless otherwise
consented to in writing by the Company, in its sole discretion, this Agreement (and Recipient’s
rights hereunder) may not be assigned, and the obligations of Recipient hereunder may not be
delegated, in whole or in part. The rights and obligations created hereunder shall be binding on
the Recipient and his heirs and legal representatives and on the successors and assigns of the
Company.

     9. Complete Agreement. This Agreement (together with those agreements and documents
expressly referred to herein, for the purposes referred to herein) embody the complete and entire
agreement and understanding between the parties with respect to the subject matter hereof, and
supersede any and all prior promises, assurances, commitments, agreements, undertakings or
representations, whether oral, written, electronic or otherwise, and whether express or implied,
which may relate to the subject matter hereof in any way.

     10. Miscellaneous.

          (a) No Right to (Continued) Employment or Service. This Agreement and the grant of
Restricted Stock hereunder shall not shall confer, or be construed to confer, upon the Recipient
any right to employment or service, or continued employment or service, with the Company or any
Related Entity.

          (b) No Limit on Other Compensation Arrangements. Nothing contained in this Agreement
shall preclude the Company or any Related Entity from adopting or continuing in effect other or
additional compensation plans, agreements or arrangements, and any such plans, agreements and
arrangements may be either generally applicable or applicable only in specific cases or to specific
persons.

          (c) Severability. If any term or provision of this Agreement is or becomes or is
deemed to be invalid, illegal or unenforceable in any jurisdiction or under any applicable law,
rule or regulation, then such provision shall be construed or deemed amended to conform to
applicable law (or if such provision cannot be so construed or deemed amended without materially
altering the purpose or intent of this Agreement and the grant of Restricted Stock

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hereunder, such provision shall be stricken as to such jurisdiction and the remainder of this
Agreement and the award hereunder shall remain in full force and effect).

          (d) No Trust or Fund Created. Neither this Agreement nor the grant of Restricted
Stock hereunder shall create or be construed to create a trust or separate fund of any kind or a
fiduciary relationship between the Company or any Related Entity and the Recipient or any other
person. To the extent that the Recipient or any other person acquires a right to receive payments
from the Company or any Related Entity pursuant to this Agreement, such right shall be no greater
than the right of any unsecured general creditor of the Company.

          (e) Law Governing. This Agreement shall be governed by and construed and enforced in
accordance with the internal laws of the State of Florida (without reference to the conflict of
laws rules or principles thereof).

          (f) Interpretation. The Recipient accepts the Restricted Stock subject to all of the
terms, provisions and restrictions of this Agreement and the Plan. The undersigned Recipient
hereby accepts as binding, conclusive and final all decisions or interpretations of the Board or
the Committee upon any questions arising under this Agreement.

          (g) Headings. Section, paragraph and other headings and captions are provided solely
as a convenience to facilitate reference. Such headings and captions shall not be deemed in any
way material or relevant to the construction, meaning or interpretation of this Agreement or any
term or provision hereof.

          (h) Notices. Any notice under this Agreement shall be in writing and shall be deemed
to have been duly given when delivered personally or when deposited in the United States mail,
registered, postage prepaid, and addressed, in the case of the Company, to the Company’s President
at 1301 Concord Terrace,Sunrise, FL 33323 or if the Company should move its principal office, to
such principal office, and, in the case of the Recipient, to the Recipient’s last permanent address
as shown on the Company’s records, subject to the right of either party to designate some other
address at any time hereafter in a notice satisfying the requirements of this Section.

          (i) Non-Waiver of Breach. The waiver by any party hereto of the other party’s prompt
and complete performance, or breach or violation, of any term or provision of this Agreement shall
be effected solely in a writing signed by such party, and shall not operate nor be construed as a
waiver of any subsequent breach or violation, and the waiver by any party hereto to exercise any
right or remedy which he or it may possess shall not operate nor be construed as the waiver of such
right or remedy by such party, or as a bar to the exercise of such right or remedy by such party,
upon the occurrence of any subsequent breach or violation.

          (j) Counterparts. This Agreement may be executed in two or more separate
counterparts, each of which shall be an original, and all of which together shall constitute one
and the same agreement.

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     11. Restrictive Covenants and Return of Value of Shares. In consideration for the
Company’s grant of the Restricted Stock to the Recipient, and for the valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Recipient agrees to the following:

          (a) In the event that during the Recipient’s Continuous Service or within twelve (12) months
after termination of such Continuous Service, the Recipient violates any non-competition,
non-solicitation, or confidentiality agreement with the Company or any Related Entity, including
without limitation, any agreements contained in Section (b) and (c) of this Section 11, the
Committee in its sole discretion, may require the Recipient to pay to the Company, upon written
demand, an amount equal to the aggregate Fair Market Value of the Shares of Restricted Stock,
determined with respect to each Share on the Vesting Date for that Share pursuant to Section 2
hereof, without regard to any changes in the Fair Market Value that occurred after such respective
Vesting Dates.

          (b) The Recipient shall hold in a fiduciary capacity for the benefit of the Company all
information, knowledge or data relating to the Company or any Related Entity and their respective
businesses which the Company or any Related Entity consider to be proprietary, trade secret or
confidential, that the Recipient obtains or has previously obtained during his or her Continuous
Service and that is not public knowledge (other than as a result of the Recipient’s violation of
this provision) (the “Confidential Information”). The Recipient shall not directly or indirectly
use any Confidential Information for any purposes not associated with the activities of the Company
or any Related Entity, or communicate, divulge or disseminate Confidential Information to any
person or entity not authorized by the Company or any Related Entity to receive it at any time
during or after termination of Recipient’s Continuous Service, except with the prior written
consent of the Company or as otherwise required by law or legal process.

          (c) For a period of nine months after the termination of the Recipient’s Continuous Service,
for any reason, voluntary or involuntary, the Recipient shall not, without the written consent of
the Company, directly or indirectly solicit, entice, persuade or induce any person to leave the
Continuous Service, or employ or attempt to employ or enter into any contractual arrangement with
any employee or former employee (other than a former employee who has not been employed by the
Company or any Related Entity for a period in excess of six months), of the Company or any Related
Entity (other than persons employed in a clerical, non-professional or non-management position).

          (d) The Recipient understands and agrees that the restrictions set forth above, including,
without limitation, the duration and the business scope of such restrictions, are reasonable and
necessary to protect the legal interests of the Company and the Related Entities. The Recipient
further agrees that the Company and the Related Entities shall be entitled to seek injunctive
relief in the event of any actual or threatened breach of such restrictions. If any provision of
this Section 11 is determined to be unenforceable by any court, then such provision shall be
modified or omitted only to the extent necessary to make the remaining provisions of this Section
11 enforceable.]

7

 

     IN WITNESS WHEREOF, the parties hereto, intending to be legally bound, have executed this
Agreement as of the date first written above.

	 	 	 	 	 
	 	Pediatrix Medical Group, Inc.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Agreed and Accepted:

RECIPIENT:

	 	 	 	 	 
	 	 	 
	By:  	 	 
	 	[Insert name of Recipient] 	 
	 	 	 	 
	 

8

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