Document:

Form of Stock Option Agreement

 Exhibit 10.2 
 STOCK OPTION AGREEMENT 
  

	
	 THIS STOCK OPTION AGREEMENT dated as of
                        , (“Grant Date”),
 is between KENSEY NASH CORPORATION, a Delaware corporation (the
 “Company”), and the employee designated on the
attached Notice of Grant of Stock
 Options of the Company (the “Participant”).

 WHEREAS, the Company desires, by affording the Participant an opportunity to purchase
shares of the Company’s Common Stock as hereinafter provided, to carry out the purposes of the Kensey Nash Corporation Employee Incentive Compensation Plan (the “Plan”); and 
 WHEREAS, the Committee has duly made all determinations necessary or appropriate to the grants hereunder; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants hereinafter set forth and for other good and valuable consideration,
receipt of which is hereby acknowledged, the parties hereto have agreed, and do hereby agree, as follows: 
 1. Grant of Option, Option Price and
Term. 
 (a) The Company hereby grants to the Participant, as a matter of separate agreement and not in lieu of salary or any other
compensation for services, the right and option (the “Option”) to purchase the number of shares designated on the attached Notice of Grant of Stock Options of the Common Stock of the Company (“Option Shares”) on the terms and
conditions herein set forth. 
 (b) For each of the Option Shares purchased, the Participant shall pay to the Company
             dollars ($            ) per share (the “Option Price”). Accordingly, the
aggregate Option Price to exercise all of the Option is as specified on the attached Notice of Grant of Stock Options (“Aggregate Option Price”). 
 (c) The term of this Option shall be a period of ten (10) years from the Grant Date (the “Option Period”). During the Option Period, the Option shall be exercisable in accordance with the schedule on
the attached Notice of Grant of Stock Options. 
 (d) The Option granted hereunder is designated as a nonqualified stock option. 

(e) The Company shall not be required to issue any fractional Option Shares. 
 2. Termination of Option. Subject to Paragraph 1(c): 
 (a) If a Participant has an involuntary (as to
the Participant) Termination of Employment for reasons other than Cause, Disability or death, or if a Participant has a Termination of Employment which is a Retirement, this Option shall be cancelled ninety (90) days after such Termination of
Employment or after the expiration of the remaining Option Period, whichever period is shorter. 
 (b) If the Termination of Employment is on
account of the Disability or death of the Participant, this Option shall be cancelled one (1) year after the date of the occurrence of the Disability or death or after the expiration of the remaining Option Period, whichever period is shorter.

	 	(c)	If the Participant has a Termination of Employment for Cause or a voluntary Termination of Employment (other than Retirement), this Option will automatically be cancelled
simultaneously with the date of such Termination of Employment. 

 A Participant’s Termination of Employment due to death
or Disability will result in the Option’s being fully exercisable. A Participant’s Termination of Employment for reasons other than death or Disability does not accelerate the percentage of Option Shares otherwise exercisable with respect
to the Participant. Any portion of the Option which is not exercisable as of a Participant’s Termination of Employment (other than an Option which becomes fully exercisable upon Termination of Engagement due to death or Disability) is cancelled
simultaneously with the date of such Termination of Employment. If at the time a Participant incurs a Termination of Employment other than for Cause the Participant is subject to Section 16 of the Exchange Act, any time period provided for in
this Paragraph 2 shall be suspended or delayed during the period the Participant would be subject to liability for engaging in “short-swing” transactions under Section 16 of the Exchange Act, but such suspension or delay shall not
extend such time period more than six (6) months and one (1) day. 
 3. Exercise. The Option shall be exercisable during the
Participant’s lifetime only by the Participant (or his or her Representative), and after the Participant’s death only by a Representative. The Option may only be exercised by the delivery to the Company of a properly completed written
notice, in form satisfactory to the Committee, which notice shall specify the number of Option Shares to be purchased and the aggregate Option Price for such shares, together with payment in full of such aggregate Option Price. Payment shall only be
made: 
  

	 	(a)	in cash or by check; 

  

	 	(b)	by the delivery to the Company of a valid and enforceable stock certificate (or certificates) representing shares of Common Stock already owned by the Participant for a period of at
least six months prior to such payment, which is endorsed in blank or accompanied by an executed stock power (or powers) and guaranteed in a manner acceptable to the Committee; 

  

	 	(c)	by delivery to the Company of a full recourse promissory note or other full recourse evidence of indebtedness (with, in either case, a term of no more than twenty-four
(24) months); 

  

	 	(d)	by authorizing the Company to retain shares of Common Stock already owned by the Participant for a period of at least six months prior to such payment, thereby reducing the number
of shares of Common Stock to be issued and delivered to the Participant upon such exercise; 

  

	 	(e)	in cash by a broker-dealer to whom the Participant has submitted an irrevocable notice of exercise; or 

  

	 	(f)	in any combination of (a), (b), (c), (d) or (e). 

 If any part of the
payment of the Option Price is made in shares of Common Stock, such shares shall be valued by using their Fair Market Value as of their date of delivery. 
 The Option shall not be exercised unless there has been compliance with all the preceding provisions of this Paragraph 3, and, for all purposes of this Stock Option Agreement, the date of the exercise of the Option
shall be the date upon which there is compliance with all such requirements. 
 4. Payment of Withholding Taxes. If the Company is obligated to
withhold an amount on account of any tax imposed as a result of the exercise of the Option, the Participant shall be required to pay such amount to the Company, as provided in the Plan. 
 5. Requirements of Law; Registration and Transfer Requirements. The Company shall not be required to sell or issue any shares under the Option if the issuance of
such shares shall constitute a violation of any provision of any law or regulation of any governmental authority. This Option and each and every obligation of the Company hereunder are subject to the requirement that the Option may not be exercised
or performed, in whole or in part, unless and until the Option Shares are listed, registered or qualified, properly marked with a legend or other notation, or otherwise restricted, as is provided for in the Plan. 

 6. Adjustments/Change in Control. In the event of a Change in Control or other corporate restructuring provided
for in the Plan, the Participant shall have such rights, and the Committee shall take such actions, as are provided for in the Plan. 
 7.
Nontransferability. Except for certain estate planning and other transfers specifically authorized under the terms of the Plan, the Option and any interest in the Option may not be sold, assigned, conveyed, gifted, pledged, hypothecated or
otherwise transferred in any manner other than by will or the laws of descent and distribution. The Option granted hereunder shall be subject to a qualified domestic relations order but not unless and until the Committee adopts Rule 16b-3, as
promulgated in Securities Exchange Act Release 34-28869 of the Securities and Exchange Commission. Notwithstanding any other provision of this Stock Option Agreement, any such attempted sale, assignment, conveyance, gift, pledge, hypothecation or
transfer shall be null and void and shall nullify the Option immediately. 
 8. Plan. Notwithstanding any other provision of this Stock Option
Agreement, the Option is granted pursuant to the Plan, as in effect on the date hereof, and is subject to all the terms and conditions of the Plan, as the same may be amended from time to time; provided, however, that no amendment to either the Plan
or this Stock Option Agreement shall deprive the Participant, without the Participant’s consent, of the Option or of any of Participant’s rights under this Stock Option Agreement. The interpretation and construction by the Committee of the
Plan, this Stock Option Agreement, the Option, and such rules and regulations as may be adopted by the Committee for the purpose of administering the Plan, shall be final and binding upon the Participant. Until the Option shall expire, terminate or
be exercised in full, the Company shall, upon written request therefore, send a copy of the Plan, in its then current form, to the Participant or any other person or entity then entitled to exercise the Option. 
 Participant hereby acknowledges receipt of a copy of the Plan. 
 9. No Stockholder Rights. Until the Option shall have been duly exercised to purchase such Option Shares and such shares have been officially recorded as issued on the Company’s official stockholder records, no person or entity
shall be entitled to vote, receive dividends or be deemed for any purpose the holder of any Option Shares, and adjustments for dividends or otherwise shall be made only if the record date therefor is subsequent to the date such shares are recorded
and after the date of exercise and without duplication of any adjustment. 
 10. No Employment Rights. No provision of this Stock Option Agreement or
of the Option granted hereunder shall give the Participant any right to continue in the employ of the Company or any of its Affiliates, create any inference as to the length of employment of the Participant, affect the right of the Company or
its Affiliates to terminate the employment of the Participant, with or without Cause, or give the Participant any right to participate in any employee welfare or benefit plan or other program (other than the Plan) of the Company or any of its
Affiliates. 
 11. No Disclosure Rights. The Company shall have no duty or obligation to affirmatively disclose to the Participant or a
Representative, and the Participant or Representative shall have no right to be advised of, any material information regarding the Company or an Affiliate at any time prior to, upon or in connection with the exercise of an Option or the
Company’s purchase of Common Stock in accordance with the terms of this Stock Option Agreement. 
 12. Investment Representation and Agreement.
The Committee may require the Participant to furnish to the Company, prior to the issuance of any shares of Common Stock upon the exercise of all or any part of this Option, an agreement (in such form as such Committee may specify) in which the
Participant represents that the shares of Common Stock acquired by him upon exercise are being acquired for investment and not with a view to the sale or distribution thereof. 

 13. Governing Law. This Stock Option Agreement and the Option granted hereunder shall be governed by, and
construed and enforced in accordance with, the laws of the State of Delaware (other than its laws respecting choice of law). 
 14. Entire Agreement.
This Stock Option Agreement, together with the Plan, constitute the entire obligation of the parties hereto with respect to the subject matter hereof and shall supersede any prior expressions of intent or understanding with respect to this
transaction. 
 15. Definitions. Wherever initial capitalization of a term is used in this Stock Option Agreement, it shall have the same meaning as
that given to it by the Plan, except to the extent such meaning should conflict with any meaning afforded to such term in this Stock Option Agreement. 
 16.
Amendment. Any amendment to this Stock Option Agreement shall be in writing and signed on behalf of the Company. 
 17. Waiver; Cumulative
Rights. The failure or delay of either party to require performance by the other party of any provision hereof shall not affect its right to require performance of such provision unless and until such performance has been waived in writing. Each
and every right hereunder is cumulative and may be exercised in part or in whole from time to time. 
 18. Counterparts. This Stock Option Agreement
may be signed in two (2) counterparts, each of which shall be an original, but both of which shall constitute but one and the same instrument. 
 19.
Notices. Any notice which either party hereto may be required or permitted to give the other shall be in writing and may be delivered personally or by mail, postage prepaid, addressed to the Secretary of the Company, 735 Pennsylvania Drive,
Exton, Pennsylvania 19341, and the Participant at his address as shown on the Company’s payroll records, or to such other address as the Participant, by notice to the Company, may designate in writing from time to time. 
 20. Headings. The headings contained in this Stock Option Agreement are for reference purposes only and shall not affect the meaning or interpretation of this
Stock Option Agreement. 
 21. Severability. If any provision of this Stock Option Agreement shall for any reason be held to be invalid or
unenforceable, such invalidity or unenforceability shall not effect any other provision hereof, and this Stock Option Agreement shall be construed as if such invalid or unenforceable provision were omitted. 
 22. Successors and Assigns. This Stock Option Agreement shall inure to the benefit of and be binding upon each successor and assign of the Company. All
obligations imposed upon the Participant or a Representative, and all rights granted to the Company hereunder, shall be binding upon the Participant’s or the Representative’s heirs, legal representatives and successors. 
 23. Conditional Grant. This Option is granted upon the condition that, and the Option Shares hereunder shall be forfeited unless, each and any person who is a
spouse of the Participant at any time on or after the Grant Date (including any person who becomes a spouse after the Grant Date) executes a Consent of Spouse form provided by the Committee, unless the Committee shall waive either such condition.

 IN WITNESS WHEREOF, the Company has caused this Stock Option Agreement to be duly executed by an officer
thereunto duly authorized. 
  

			
	 KENSEY NASH CORPORATION

		
	 By:
	 	  

		
	 Title:Stock Appreciation Rights Agreement

 Exhibit 10.3 
 Kensey Nash Corporation 
 Stock Appreciation Right (“SAR”) Agreement 
 1) Notice of Grant of Stock Appreciation Right  
  

			
	 Participant:
	  	
		
	 Award Number:
	  	
		
	 Type of Award:
	  	Cash-Settled Stock Appreciation Right
		
	 Grant Date:
	  	
		
	 Total Number of Shares Granted:
	  	
		
	 Fair Market Value per Share on Grant Date:
	  	
		
	 Total Fair Market Value of Shares Granted:
	  	$
		
	 Expiration Date:
	  	

 Kensey Nash Corporation (the “Company”) hereby grants to the Participant named above
this Stock Appreciation Right with respect to the Company’s common stock. The Stock Appreciation Right is subject to and governed by the provisions of the Fifth Amended and Restated Kensey Nash Corporation Employee Incentive Compensation Plan
(the “Plan”). In the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Award Agreement, the terms and conditions of the Plan shall prevail. Unless otherwise defined herein, the terms
defined in the Plan shall have the same defined meanings in this Award Agreement. 
 2) Vesting Schedule. This Stock Appreciation
Right shall vest in accordance with the following schedule: 
 One third (1/3) of the Award shall vest on the first anniversary of the
grant date; one third (1/3) of the Award shall vest on the second anniversary of the grant date; and the remainder of the Award shall vest on the third anniversary of the grant date, provided that the Participant remains an active employee of
Kensey Nash Corporation through each such date. 
 Notwithstanding the foregoing sentence, if the Participant experiences a Termination of Employment due to
death or Disability, or if the Company experiences a Change in Control while this Stock Appreciation Right is outstanding, this Stock Appreciation Right shall become fully exercisable on the date of such event. 
 3) Exercise of Stock Appreciation Right. Each election to exercise this Stock Appreciation Right shall be in writing, signed by the Participant
and received by the Human Resources Department, Kensey Nash Corporation, 735 Pennsylvania Drive, Exton, PA 19341, or at such other address as the Company may hereafter designate, no later than the expiration date set forth in Section 1 above
(the 
  

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 “Expiration Date”). The notice shall state the election to exercise the Stock Appreciation Right and the number
of Shares in respect of which the Stock Appreciation Right is being exercised. This Stock Appreciation Right shall be deemed to be exercised upon receipt by the Company of such fully executed notice. 
  

	 	a.	Upon exercising all or a portion of this Stock Appreciation Right, the Participant shall become entitled to receive from the Company, for each Share exercised, an amount equal to
(i) the Fair Market Value of Kensey Nash Corporation Common Stock as of the date of such exercise, determined in accordance with Section 2.18 of the Plan, minus (ii) the Fair Market Value of Kensey Nash Corporation Common Stock on the
Grant Date. 

  

	 	b.	The Company’s obligation arising upon the exercise of this Stock Appreciation Right shall be paid in cash as soon as administratively practicable after the exercise. Such cash
payment may be reduced in accordance with Section 6 below, in the Company’s sole discretion, to fulfill any or all income tax withholding requirements (including federal, state and local taxes) with respect to the exercised portion of the
Stock Appreciation Right. 

 4) Employment Termination: 
  

	 	a.	If the Participant has an involuntary (as to the Participant) Termination of Employment for a reason other than Cause, Disability or death, or if the Participant has a Termination
of Employment which is a Retirement, this Stock Appreciation Right shall be cancelled ninety (90) days after such Termination of Employment or, if earlier, on the Expiration Date. 

  

	 	b.	If the Termination of Employment is on account of the Disability or death of the Participant, this Stock Appreciation Right shall be cancelled one (1) year after the date of
the occurrence of the Disability or death or, if earlier, on the Expiration Date. 

  

	 	c.	If the Participant has a Termination of Employment for Cause or a voluntary Termination of Employment (other than due to Retirement), this Stock Appreciation Right automatically
will be cancelled on the date of such Termination of Employment. 

  

	 	d.	The Participant’s Termination of Employment due to death or Disability will result in the Stock Appreciation Right becoming fully exercisable. The Participant’s
Termination of Employment for a reason other than death or Disability does not accelerate the percentage of Stock Appreciation Right Shares otherwise exercisable with respect to the Participant. Any portion of the Stock Appreciation Right which is
not exercisable as of the Participant’s Termination of Employment (other than a Stock Appreciation Right which becomes fully exercisable upon Termination of Employment due to death or Disability) will be cancelled simultaneously with the date
of such Termination of Employment. 

 5) Non-Transferability of Stock Appreciation Right. Prior to exercise of the Stock
Appreciation Right and payment of cash pursuant to such exercise, this Stock Appreciation Right (or any beneficial interest therein) may not be transferred in any manner other than by will or by the laws of descent or distribution and may be
exercised during the lifetime of the Participant only by the Participant. 
  

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 Notwithstanding the foregoing sentence, the Participant may, in a manner and in accordance with terms specified by the
Administrator, transfer this Stock Appreciation Right to his or her spouse, former spouse or dependent pursuant to a court-approved domestic relations order which relates to the provision of child support, alimony payments or marital property
rights. Subject to the limitation on the transferability of this grant contained herein, this Award Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto.

 6) Withholding Taxes. The Participant authorizes the Company to withhold all applicable withholding taxes legally payable by the
Participant from the Participant’s wages or other cash compensation payable to the Participant by the Company or from the cash payment(s) due upon exercise of the Stock Appreciation Right. Regardless of any action the Company takes with respect
to any or all taxes, the Participant acknowledges that the ultimate liability for all taxes legally due with respect to the Stock Appreciation Right is and remains the Participant’s responsibility and that the Company makes no representations
or undertakings regarding the treatment of any income or the handling of any taxes in connection with any aspect of the Stock Appreciation Right, including the grant, vesting or exercise of the Stock Appreciation Right and the receipt of cash
payment(s) upon exercise of the Stock Appreciation Right. The Company does not commit to structure the terms of the grant or any aspect of the Stock Appreciation Right to reduce or eliminate the Participant’s tax liability. 
 7) Rights as Stockholder. Neither the Participant nor any person claiming under or through the Participant will have any of the rights or
privileges of a stockholder of the Company with respect to the Stock Appreciation Right covered by this Agreement. 
 8) No Effect on
Employment or Service. The Participant acknowledges and agrees that the vesting of this Stock Appreciation Right pursuant to Section 2 hereof is earned only by his or her continuing as an Employee, Consultant or non-employee Director at the
will of the Company (and not through the act of being hired, being granted a Stock Appreciation Right or exercising Shares hereunder). The Participant further acknowledges and agrees that this Award Agreement, the transactions contemplated hereunder
and the vesting schedule set forth herein do not constitute an express or implied promise of continued engagement as an Employee, Consultant or non-employee Director for the vesting period, for any period, or at all, and will not interfere with the
Participant’s right, or the Company’s right, to terminate Participant’s relationship with the Company as an Employee, Consultant or non-employee Director at any time. 
 9) No Compensation Deferrals. Neither the Plan nor this Award Agreement is intended to provide for deferred compensation that would be subject to
Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”). The Company reserves the right, to the extent the Company deems necessary or advisable in its sole discretion, to unilaterally amend or modify the Plan
and/or this Award Agreement to ensure that the Stock Appreciation Right granted in this Award Agreement is not subject to the requirements of Section 409A. 
 10) Tax Consultation. The Participant understands that he or she may suffer adverse tax consequences as a result of the grant, vesting or exercise of the Stock Appreciation Right hereunder. The Participant
represents that he or she has consulted with any tax consultants he or she deems advisable in connection with the Stock Appreciation Right and that he or she is not relying on the Company for any tax advice. 
 11) Address for Notices. Any notice to be given to the Company under the terms of this Award Agreement will be addressed to the Vice President of
Human Resources, Kensey Nash Corporation, 735 Pennsylvania Drive, Exton, PA 19341, or at such other address as the Company may hereafter designate in writing. 
  

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 12) Board Authority. The Board has the power to interpret the Plan and this Award Agreement and to
adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules (including, but not limited to, the determination of whether or not any Stock Appreciation
Right has vested). All actions taken and all interpretations and determinations made by the Board in good faith will be final and binding upon the Participant, the Company and all other interested persons. No member of the Board or any Board
Committee administering the Plan will be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Award Agreement. 
 13) Severability. In the event that any provision in this Award Agreement is held to be invalid or unenforceable, such provision will be severable
from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of this Award Agreement. 
 14) Entire Agreement; Governing Law. The Plan is incorporated herein by reference. The Plan and this Award Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their
entirety all prior undertakings and agreements of the Company and the Participant with respect to the subject matter hereof, and may not be modified adversely to the Participant’s interest except by means of a writing signed by the Company and
the Participant. Notwithstanding the foregoing, the Board shall have the authority to amend the Plan and the Award Agreement to the extent necessary to comply with applicable law or changes to applicable law and related regulations or other guidance
and federal securities laws, provided that such amendment shall not impair the rights of the Participant with respect to this Stock Appreciation Right without the Participant’s written consent. The Plan and this Award Agreement are governed by
the laws of the state of Delaware. 
 15) Electronic Delivery. The Company may, in its sole discretion, decide to deliver any
documents related to participation in the Plan and the Stock Appreciation Right granted hereunder by electronic means or to request the Participant’s consent to participate in the Plan by electronic means. 
 By the Participant’s signature and the signature of the Company’s representative below, the Participant and the Company agree that this Stock
Appreciation Right is granted under and governed by the terms and conditions of the Plan and this Award Agreement. The Participant has received and reviewed the Plan and this Award Agreement in their entirety, has had an opportunity to obtain the
advice of counsel prior to executing this Award Agreement and fully understands all provisions of the Plan and this Award Agreement. The Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the
Committee on any questions relating to the Plan and this Award Agreement. 
  

			
	 COMPANY
	  	
		
	 Signed
	  	Dated
		
	 PARTICIPANT
	  	
		
	 Signed
	  	Dated

  

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