Document:

2002 Stock Incentive Plan

 Exhibit 10.2 
  
 STEREOTAXIS, INC. 
 2002 STOCK INCENTIVE PLAN 
 As amended and restated effective June 10,
2009 
 1.    Objectives. 
 The Stereotaxis, Inc. 2002 Stock Incentive Plan (the “Plan”) is designed to attract, motivate and retain selected employees of, and other individuals providing services to, the Company. These objectives are accomplished by making
long-term incentive and other awards under the Plan, thereby providing Participants with a proprietary interest in the growth and performance of the Company. 
 2.    Definitions. 
 (a)    “Awards”—The grant of any form of stock option,
stock appreciation right, performance share award, restricted stock award, or other stock-based award, whether granted singly, in combination or in tandem, to a Participant pursuant to such terms, conditions, performance requirements, limitations
and restrictions as the Committee may establish in order to fulfill the objectives of the Plan. 
 (b)    “Award
Agreement”—An agreement between the Company and a Participant that sets forth the terms, conditions, performance requirements, limitations and restrictions applicable to an Award. 
 (c)    “Board”—The Board of Directors of the Company. 
 (d)    “Change of Control”—The purchase or other acquisition (other than from the Company) by any person, entity or group of persons, within the meaning of Section 13(d)
or 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (excluding, for this purpose, the Company or its subsidiaries or any employee benefit plan of the Company or its subsidiaries), of beneficial ownership
(within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either the then-outstanding shares of common stock of the Company or the combined voting power of the Company’s then-outstanding voting securities
entitled to vote generally in the election of directors; or 
 Individuals who, as of the date hereof, constitute the Board (as of the date
hereof, the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board, provided that any person who becomes a director subsequent to the date hereof whose election, or nomination for election by the
Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board (other than an individual whose initial assumption of office is in connection with an actual or threatened election
contest relating to the election of directors of the Company, as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act) shall be, for purposes of this section, considered as though such person were a
member of the Incumbent Board; or 
 The consummation of a reorganization, merger or consolidation, in each case with respect to which
persons who were the stockholders of the Company immediately prior to such reorganization, merger or consolidation do not, immediately thereafter, own more than 50% of, respectively, the common stock and the combined voting power entitled to vote
generally in the election of directors of the reorganized, merged or consolidated corporation’s then-outstanding voting securities, or of a liquidation or dissolution of the Company or of the sale of all or substantially all of the assets of
the Company. 
 (e)    “Code”—The Internal Revenue Code of 1986, as amended from time to time. 
 (f)    “Committee”—The committee designated by the Board to administer the Plan and chosen from those of its members, or, in
the absence of any such Committee, the Board. 
 (g)    “Company”—Stereotaxis, Inc., a Delaware corporation.

 (h)    “Fair Market Value”—The last sale price, regular way, or, in case no such sale takes place on such date,
the average of the closing bid and asked prices, regular way, of the Shares, in either case as reported in the principal consolidated transaction reporting system with respect to securities listed or admitted to 

 trading on the New York Stock Exchange, Inc. (the “NYSE”) or, if the Shares are not listed or admitted to
trading on the NYSE, as reported in the principal consolidated transaction reporting system with respect to securities listed on the principal national securities exchange on which the Shares are listed or admitted to trading or, if the Shares are
not listed or admitted to trading on any national securities exchange, the last quoted sale price on such date or, if not so quoted, the average of the high bid and low asked prices in the over-the-counter market on such date, as reported by the
National Association of Securities Dealers, Inc. Automated Quotations System or such other system then in use, or, if on any such date the Shares are not quoted by any such organization, the average of the closing bid and asked prices on such date
as furnished by a professional market maker making a market in the Shares selected by the Committee. If the Shares are not publicly held or so listed or publicly traded, the determination of the Fair Market Value per Share shall be made in good
faith by the Committee. 
 (i)    “Fiscal Year”—The fiscal year of the Company, as the same may be changed from
time to time. 
 (j)    “Incentive Stock Option”—A stock option intended to meet the requirements of Section 422
of the Code and the regulations thereunder. 
 (k)    “Nonqualified Stock Option”—A stock option which
is not an Incentive Stock Option. 
 (l)    “Parent”—Any corporation (other than the Company) in an unbroken chain
of corporations ending with the Company if, at the time of the granting of an Award, each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other
corporations in such chain, or such other meaning as may be hereafter ascribed to it in Code Section 424. 
 (m)    “Participant”—An individual to whom an Award has been made under the Plan. Awards may be made to employees of the Company, or any of its subsidiaries (including subsidiaries of subsidiaries),
or any other entity in which the Company has a significant equity or other interest, as determined by the Committee, as well as individuals providing services to the Company; provided, that Incentive Stock Options may only be granted to employees of
the Company or any of its Subsidiaries. 
 (n)    “Performance Period”—A period of one or more consecutive Fiscal
Years over which one or more of the performance criteria listed in Section 5(e) shall be measured pursuant to the grant of Awards (whether such Awards take the form of stock options, performance share awards, long term cash incentives or stock
ownership incentive awards). Performance Periods may overlap one another. 
 (o)    “Shares” or
“Stock”—Authorized and issued or unissued shares of common stock of the Company. 
 (p)    “Subsidiary” —Any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company if, at the time of granting an Award, each of the corporations other
than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain, or such other meaning as may be hereafter ascribed to it in
Code Section 424. 
 3.    Stock Available for Awards. 
 Subject to adjustment pursuant to Section 12, the number of shares that may be issued under the Plan for Awards granted wholly or partly in stock
during the term of the Plan is 8,610,998. Shares of Stock may be made available from the authorized but unissued shares of the Company, from shares held in the Company’s treasury and not reserved for some other purpose, or from shares purchased
on the open market. For purposes of determining the number of shares of Stock issued under the Plan, no shares shall be deemed issued until they are actually delivered to a Participant, or such other person in accordance with Section 9. Shares
covered by Awards that either wholly or in part are not earned, or that expire or are forfeited, terminated, canceled, settled in cash, payable solely in cash or exchanged for other Awards, shall be available for future issuance under Awards.
Further, shares tendered to the Company in connection with the exercise of stock options, or withheld by the Company for the payment of tax withholding on any Award, shall also be available for future issuance under Awards; provided, however, that
not more than 

  

 2 

 
6,364,484 shares may be used for the grant of Incentive Stock Options. In addition, not more than 750,000 of the Shares available under the Plan may be used
for the grant of fully vested shares (in the form of Other Stock-Based Awards) to satisfy payments under an annual incentive plan maintained by the Company. 
 4.    Administration. 
 The Plan shall be administered by the Committee, which shall have full power to
select Participants, to interpret the Plan, and to adopt such rules, regulations and guidelines for carrying out the Plan as it may deem necessary or proper. 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 a majority of the Committee in lieu of a meeting shall be deemed acts of the Committee. Each member of the Committee is entitled to, in good faith, rely upon
any report or other information furnished to that member by any officer or other associate of the Company, any subsidiary, the Company’s certified public accountants, or any executive compensation consultant or other professional retained by
the Company to assist in the administration of the Plan. 
 5.    Awards. 
 The Committee shall determine the type or types of Award(s) to be made to each Participant and shall set forth in the related Award Agreement the terms,
conditions, performance requirements, limitations and restrictions applicable to each Award. Awards may include but are not limited to those listed in this Section 5. Awards may be granted singly, in combination or in tandem. Awards may
also be made in combination or in tandem with, in replacement or payment of, or as alternatives to, grants, rights or compensation earned under any other plan of the Company, including the plan of any acquired entity. 
 (a)    Stock Option—A stock option is a grant of a right to purchase a specified number of shares of Stock at a stated price. The
exercise price of Incentive Stock Options and Nonqualified Stock Options shall be not less than 100% of Fair Market Value on the date of grant; provided that, in the case of a Participant who owns more than 10% of the total combined voting power of
all classes of stock of the Company, its Parent or a Subsidiary, the exercise price of Incentive Stock Options shall not be less than 110% of the Fair Market Value of the Stock on the date of grant. No individual may be granted options to purchase
more than 277,777 shares during any Fiscal Year. The term of each option shall not be more than ten (10) years from the date of granting thereof or such shorter period as is prescribed in the Award Agreement; provided that, in the case of a
Participant who owns more than ten percent (10%) of the total combined voting power of all classes of stock of the Company, a Parent or a Subsidiary, the term of any Incentive Stock Option shall not be more than five (5) years from the
date of granting thereof or such shorter period as prescribed in the Award Agreement. Within such limit, options will be exercisable at such time or times, and subject to such restrictions and conditions, as the Committee shall, in each instance,
approve, which need not be uniform for all Participants. The holder of an option shall have none of the rights of a shareholder with respect to the shares subject to option until such shares shall be issued to him or her upon the exercise of his or
her option. 
 (b)    Stock Appreciation Rights—A stock appreciation right is a grant of a right to receive a payment from
the Company in an amount equal to the excess of the Fair Market Value on the exercise date of a share of Stock over the exercise price per share, times the number of stock appreciation rights exercised. The exercise price of stock appreciation
rights shall not be less than 100% of Fair Market Value on the date of grant. A stock appreciation right granted in connection with an option shall entitle the Participant to surrender an unexercised option (or portion thereof) and to receive in
exchange an amount equal to the excess of the fair market value on the exercise date of a share of Stock over the exercise price per share for the option, times the number of shares covered by the option (or portion thereof) which is surrendered.
Payment may be made, in the discretion of the Committee, in (i) Stock, (ii) cash or (iii) any combination of Stock and cash. Cash shall be paid for fractional shares of Stock upon the exercise of a stock appreciation right. The
maximum number of shares of Stock subject to Awards for stock appreciation rights, for grants which are intended to qualify under Section 162(m), which may be granted during a calendar year to a Participant shall be 250,000. 
  

 3 

 (c)    Performance Share Award—A performance share award is an Award denominated in units
of stock. Performance share awards will provide for the payment of stock if performance goals are achieved over specified Performance Periods. The maximum number of shares of Stock subject to Awards for performance shares, for grants which are
intended to qualify under Section 162(m), which may be granted during a calendar year to a Participant shall be 250,000. 
 (d)    Restricted Stock Award—A restricted stock award is an Award of Stock which will vest over time or if performance or other goals are achieved over specified Performance Periods. Restricted Stock Awards
subject only to time-based vesting shall have a minimum three year vesting period (provided such awards may vest ratably over such period). Performance-based Restricted Stock Awards shall have a minimum one year vesting period, in addition to the
achievement of the performance criteria set forth in the award. The maximum number of shares of Stock subject to Awards for restricted stock, for grants which are intended to qualify under Section 162(m), which may be granted during a calendar
year to a Participant shall be 250,000. 
 (e)    Other Stock-Based Award and Cash-Based Award—The Committee may, in its sole
discretion, grant Awards of Stock, and other Awards that are valued in whole or in part by reference to the Fair Market Value of Stock. These Awards shall collectively be referred to herein as Other Stock-Based Awards. The Committee may also, in its
sole discretion, grant cash awards, referred to herein as Cash-Based Awards. Other Stock-Based Awards shall be in such form, and dependent on such conditions, as the Committee shall determine, including, but not limited to, the right to receive
fully vested shares. Other Stock-Based Awards and Cash-Based Awards may be granted with or in addition to other Awards. Subject to the other terms of the Plan, Other Stock-Based Awards and Cash-Based Awards may be granted to such Participants in
such amounts and upon such terms, and at any time and from time to time, as shall be determined by the Committee and set forth in an Award Agreement. The maximum amount that may be awarded, for grants which are intended to qualify under
Section 162(m), during a calendar year to a Participant as an Other Stock-Based Award shall be 250,000 shares and as a Cash-Based Award shall be $1,000,000. 
 (f)    Performance Criteria under section 162(m) of the Code—The performance criteria for Awards made to any “covered employee” (as defined by section 162(m) of the Code) and which are intended to
qualify as performance-based compensation under section 162(m)(C) thereof, shall consist of objective tests based on one or more of the following: the Company’s earnings per share growth; earnings; earnings per share; cash flow; customer
satisfaction; revenues; financial return ratios; market performance; shareholder return and/or value; operating profits (including earnings before income taxes, depreciation and amortization); net profits; profit returns and margins; stock price;
working capital; business trends; production cost; project milestones; and plant and equipment performance. To the extent an Award is intended to be performance-based compensation under Section 162(m) of the Code, no payments are to be made to
a Participant who is a “covered employee” if the applicable performance criteria are not achieved for a given Performance Period. If the applicable performance criteria are achieved for a given Performance Period, the Committee has full
discretion to reduce or eliminate the amount otherwise payable for that Performance Period. Under no circumstances may the Committee use discretion to increase the amount payable under an Award to a “covered employee” to the extent such
Award is intended to qualify as performance-based compensation under section 162(m) of the Code. 
 (g)    Nothing herein shall preclude
the Committee from making any payments or granting any Awards whether or not such payments or Awards qualify for tax deductibility under section 162(m) of the Code. 
 6.    Payment of Awards. 
 Payment of Awards may be made in the form of cash,
stock or combinations thereof and may include such restrictions as the Committee shall determine. Further, payments may be deferred, either in the form of installments or as a future lump-sum payment, in accordance with such procedures as may be
established from time to time by the Committee. Dividends or dividend equivalent rights may be extended to and made part of any Award denominated in stock or units of stock, subject to such terms, conditions and restrictions as the Committee may
establish. The Committee may also establish rules and procedures for the crediting of interest on deferred cash payments and dividend equivalents for deferred payments 

  

 4 

 
denominated in stock or units of stock. At the discretion of the Committee, a Participant may be offered an election to substitute an Award for another Award
or Awards of the same or different type. Any such procedures permitting deferrals, dividends or dividend equivalents must be in writing and must comply with the requirements of section 409A of the Code. 
 7.    Stock Option Exercise. 
 The
price at which shares of Stock may be purchased under a stock option shall be paid in full in cash at the time of the exercise or, if permitted by the Committee, by means of tendering Stock or surrendering another Award or any combination thereof.
The Committee may determine other acceptable methods of tendering Stock or other Awards and may impose such conditions on the use of Stock or other Awards to exercise a stock option as it deems appropriate. In addition, the optionee may effect a
“cashless exercise” of a stock option in which the option shares are sold through a broker and a portion of the proceeds to cover the exercise price is paid to the Company, or otherwise in accordance with the rules and procedures adopted
by the Committee. 
 8.    Tax Withholding. 
 Prior to the payment or settlement of any Award, the Participant must pay, or make arrangements acceptable to the Company for the payment of, any and all federal, state and local tax withholding that in the opinion of
the Company is required by law. The Company shall have the right to deduct applicable taxes from any Award payment and withhold, at the time of delivery or vesting of shares of stock under the Plan, an appropriate number of shares for payment of
taxes required by law or to take such other action as may be necessary in the opinion of the Company to satisfy all obligations for withholding of such taxes. 
 9.    Transferability. 
 No Award shall be transferable or assignable, or payable to or exercisable by,
anyone other than the Participant to whom it was granted, except (a) by law, will or the laws of descent and distribution, (b) as a result of the disability of a Participant or (c) that the Committee (in the form of an Award Agreement
or otherwise) may permit transfers of Awards (other than Incentive Stock Options) by gift or otherwise to a member of a Participant’s immediate family and/or trusts whose beneficiaries are members of the Participant’s immediate family, or
to such other persons or entities as may be approved by the Committee. 
 10.    Amendment, Modification, Suspension or Discontinuance
of the Plan. 
 The Board may amend, modify, suspend or terminate the Plan for the purpose of meeting or addressing any changes in law or
other legal requirements or for any other purpose permitted by law; provided, however, that no such amendment, modification, suspension or termination of the Plan shall adversely affect in any material way any Award previously granted under the
Plan, without the written consent of the Participant. Unless otherwise required by law, no such amendment shall require the approval of stockholders. 
 11.    Termination of Employment. 
 If the employment of a Participant terminates, the status of the
Award shall be as set forth in the Award Agreement. 
 12.    Adjustments. 
 In the event of any change in the outstanding Stock of the Company by reason of a stock split, stock dividend, combination or reclassification of shares,
recapitalization, merger, or similar event, the Committee shall adjust appropriately: (a) the number of shares or kind of Stock (i) available for issuance under the Plan, (ii) for which Awards may be granted to an individual
Participant set forth in Section 5, and (iii) covered by outstanding Awards denominated in stock or units of stock; (b) the exercise and grant prices related to outstanding Awards; and (c) the appropriate Fair Market Value and
other price determinations for such Awards. In the event of any other change affecting the Stock or any distribution 

  

 5 

 
(other than normal cash dividends) to holders of Stock, such adjustments in the number and kind of shares and the exercise, grant and conversion prices of
the affected Awards as may be deemed equitable by the Committee, including adjustments to avoid fractional shares, shall be made to give proper effect to such event. In the event of a corporate merger, consolidation, acquisition of property or
stock, separation, reorganization or liquidation, the Committee shall be authorized to cause to issue or assume stock options, whether or not in a transaction to which section 424(a) of the Code applies, by means of substitution of new stock options
for previously issued stock options or an assumption of previously issued stock options. In such event, the aggregate number of shares of Stock available for issuance under Awards under Section 3, including the individual Participant maximums
set forth in Section 5, will be increased to reflect such substitution or assumption. 
 In the event of a Change in Control,
notwithstanding any other provisions of the Plan or an Award Agreement to the contrary, the Committee may, in its sole discretion, provide for: 
 (1)    Accelerated vesting of any outstanding Awards that are otherwise unexercisable or unvested as of a date selected by the Committee; 
 (2)    Termination of an Award upon the consummation of the Change in Control in exchange for the payment of a cash amount (but only in a manner which does not result in a violation of Code
Section 409A); and/or 
 (3)    Issuance of substitute Awards to substantially preserve the terms of any Awards
previously granted under the Plan (but only in a manner which does not result in a violation of Code Section 409A). 
 13.    Acceleration. 
 The vesting schedule of any Award will not accelerate except in the cases of
death, disability or retirement of the Participant or a Change of Control of the Company. 
 14.    Miscellaneous. 
 (a)    Any notice to the Company required by any of the provisions of the Plan shall be addressed to the chief human resources officer of the Company
in writing, and shall become effective when it is received. 
 (b)    The Plan shall be unfunded and the Company shall not be required to
establish any special account or fund or to otherwise segregate or encumber assets to ensure payment of any Award. 
 (c)    Nothing
contained in the Plan shall prevent the Company from adopting other or additional compensation arrangements or plans, subject to stockholder approval if such approval is required, and such arrangements or plans may be either generally applicable or
applicable only in specific cases. 
 (d)    No Participant shall have any claim or right to be granted an Award under the Plan and
nothing contained in the Plan shall be deemed or be construed to give any Participant the right to be retained in the employ of the Company or to interfere with the right of the Company to discharge any Participant at any time without regard to the
effect such discharge may have upon the Participant under the Plan. Except to the extent otherwise provided in any plan or in an Award Agreement, no Award under the Plan shall be deemed compensation for purposes of computing benefits or
contributions under any other plan of the Company. 
 (e)    The Plan and each Award Agreement shall be governed by the laws of the State
of Delaware, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of the Plan to the substantive law of another jurisdiction. Unless otherwise provided in the Award Agreement,
recipients of an Award under the Plan are deemed to submit to the exclusive jurisdiction and venue of the federal or state courts of Missouri, County of St. Louis, to resolve any and all issues that may arise out of or relate to the Plan or any
related Award Agreement. 
  

 6 

 (f)    The Committee shall have full power and authority to interpret the Plan and to make any
determinations thereunder, and the Committee’s determinations shall be binding and conclusive. Determinations made by the Committee under the Plan need not be uniform and may be made selectively among individuals, whether or not such
individuals are similarly situated. 
 (g)    If any provision of the Plan is or becomes or is deemed invalid, illegal or unenforceable
in any jurisdiction, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended or limited in scope to conform to applicable laws or, in the discretion of the
Committee, it shall be stricken and the remainder of the Plan shall remain in full force and effect. 
 (h)    The Plan was originally
adopted by the Board on March 25, 2002 and subsequently approved by shareholders of the Company. Subject to earlier termination pursuant to Section 10, the Plan will terminate on March 25, 2012. Awards outstanding at the termination
of the Plan will not be affected by such termination. 
  

 7Corrected Second Amendment to Employment Agreement

 Exhibit 10.3 
 CORRECTED SECOND AMENDMENT TO 
 EMPLOYMENT AGREEMENT 
 This CORRECTED SECOND AMENDMENT TO EMPLOYMENT AGREEMENT (this “Corrected Second Amendment”) is entered into by and between Stereotaxis,
Inc. (the “Company” or “Stereotaxis” or “we”) and Michael P. Kaminski ( “Employee”, “you” or “your”), collectively referenced herein as “ the parties” or “we”.

 WHEREAS, you and the Company have previously entered into an At-Will Employment Agreement dated as of April 17, 2002, as
amended by a First Amendment thereto on May 29, 2008 (as so amended, the “Employment Agreement”); 
 WHEREAS, you and the Company further amended the Employment Agreement in December 2009 (the “Second Amendment”) in light of the fact that you agreed to accept the position of Chief Executive Officer (“CEO”) of
Stereotaxis effective on or about January 1st , 2009; and now desire to correct
the Second Amendment to Employment Agreement executed in December 2009 by replacing Section 1.5(c) and inserting language concerning compliance with Internal Revenue Code Section 409A as set out hereinbelow (the Amended Employment
Agreement, as corrected hereinbelow, referenced herein as the “Corrected Second Amendment” or this “Agreement”). 
 NOW, THEREFORE, in consideration of your continued employment and the promises and mutual covenants set forth in the Employment Agreement, as well as the mutual covenants set forth herein, the parties agree as follows: 
 SECTION 1. This Corrected Second Amendment to Employment Agreement replaces in its entirety the Second Amendment to Employment Agreement.
Section 1 of the Employment Agreement is hereby deleted in its entirety and replaced with the following: 
 1.1 Position and
Duties. Commencing on January 1, 2009 you shall hold the positions of President and Chief Executive Officer and shall report to, and at all times be subject to the lawful direction of, the Board of Directors of the Company.
Additionally, you shall serve as a member of the executive staff and lead the strategic decision-making of the Company from time to time. You shall also serve as a member of the Board of Directors of the Company so long as you hold the positions of
President and Chief Executive Officer, without additional compensation for such Board service. During the period of your employment by the Company (the “Employment Period”), you shall devote your best efforts and full business time and
attention (except for permitted vacation periods and reasonable periods of illness or other incapacity) to the business affairs of the Company. You shall perform your duties and responsibilities to the best of your abilities in a diligent,
trustworthy, businesslike and efficient manner. Nothing herein shall preclude you from pursuing your personal, financial and legal affairs, or, subject to the prior written consent of the Board, (a) serving on any corporate or governmental
board of directors (b) serving on the board of, or working for, any charitable, not-for-profit or community organization, or (c) pursuing any other activity; provided that you shall not engage in any other business, profession, occupation
or other activity, for compensation or otherwise, which would violate the provisions of this Agreement or would, in each case, and in the aggregate, otherwise conflict or interfere with the performance of your duties and responsibilities hereunder,
either directly or indirectly, without the prior written consent of the Board. 
  

 1 

 1.2 Base Salary. Commencing on January 1, 2009, the Company shall pay you as
compensation for services to be rendered hereunder a base salary in the amount of Four Hundred Thousand Dollars ($400,000.00) per year, payable in semi-monthly installments or otherwise in accordance with the Company’s normal payroll practices,
subject to increases, if any, as may be determined from time to time by the Company’s Board of Directors (or any duly authorized committee thereof, including without limitation the Compensation Committee) (the full board and any such committee
individually and collectively referred to herein as the “Board”), which periodic payments shall be subject to the usual and customary tax deductions, and any other deductions authorized by you as a participant, for example in certain of
our employee benefit plans. 
 1.3 Bonus Opportunity. You will be eligible to participate in a cash incentive bonus plan
that will provide for a “Target Bonus” of an amount equal to fifty percent (50%) of and maximum of one hundred per cent (100%) of your then-current base compensation, subject to achievement of Company objectives and performance
goals established for you by the Board, and subject to the Board’s determination whether and the extent to which such objectives and goals have been achieved and the amount of bonus payable as a result. 
 1.4 Equity Awards. 
 (a) You will receive One
Hundred Twenty-Five Thousand (125,000) Stock Appreciation Rights (“SARs”) upon the execution and delivery of the Second Amendment and effective upon and conditioned on the final approval of the Board or the Compensation Committee
thereof, which shall be undertaken at its first scheduled meeting following said execution and delivery. 
 (b) Thereafter, subject to the approval of the
Board, you will be eligible to receive additional equity grants in 2009. 
 1.5. Termination. 
 a) Termination by Company With Cause. Your employment hereunder is at will, and may be may be terminated at any time by Company with or without “Cause”.
For purposes of this Agreement, “Cause” shall mean: (i) embezzlement, theft or other intentional misappropriation of any property of Company, (ii) any willful act involving moral turpitude which brings disrepute or disparagement
to the Company or substantially impairs its good will and reputation, or results in a conviction for or plea of guilty to a felony involving moral turpitude, fraud or misrepresentation, (iii) material neglect of your duties as CEO pursuant to
this Agreement, (iv) material breach of your fiduciary obligations to Company, or (v) any chemical dependence which materially affects the performance of your duties and responsibilities to Company; provided that in the case of the
misconduct set forth in clauses (iii), (iv) and (v) above, you will be given written notice setting forth in reasonable detail the purported acts which constitute Cause, and you will be given the opportunity within thirty (30) days to
appear before the Board with counsel to respond to any such allegations. 
 b) Termination Without Cause. If your employment is terminated by the
Company without Cause, i) you shall receive salary continuance equal to your then current monthly base salary for the twenty-four (24) month period next following your without-Cause 

  

 2 

 
termination; however, if you are reemployed by the Company or find comparable employment during that twenty–four month period next following your
without-Cause termination, such salary continuation payments will be offset by the amount of any salary from your new employer ( or us) commencing upon such new employment; and ii) in addition to the payments set forth in (i) above, the number
of stock options, stock appreciation rights or other equity awards subject to vesting that would have vested over the 12 month period following the date of your without-Cause termination shall be automatically fully vested as of the date of the
termination; and iii) you will thereafter have an exercise period of one (1) year next following your termination date (or, if shorter, the expiration date of the option), each option being exercisable by five (5) business days prior
written notice of exercise to the Company. Salary continuation payments shall be made in accordance with the regularly scheduled payroll frequency in effect on the date of your termination of employment. Each installment payment required under this
section shall be considered a separate payment under Internal Revenue Code Section 409A. 
 c) Change of Control. If, in the event of a Change of
Control of the Company under which the Company is not the surviving entity you are not offered a comparable position and salary in the surviving entity after the Change of Control, you shall receive salary continuance equal to your then current
monthly base salary for the twenty-four (24) month period next following your without-Cause termination or the said Change of Control, subject to your compliance with any post-termination restrictions and covenants herein, and provided that, as
a condition precedent to your receipt of the salary continuance payments, you shall execute a release which releases the Company and its representatives from any and all claims that you may have against us. Salary continuation payments shall be made
in accordance with the regularly scheduled payroll frequency in effect on the date of your termination of employment. Each installment payment required under this section shall be considered a separate payment under Internal Revenue Code
Section 409A. Notwithstanding anything to the contrary in this Agreement, if you are a “specified employee” for purposes of Code Section 409A on the date of your termination and if any such payments set forth in this Agreement
are classified as nonqualified deferred compensation, as defined in Internal Revenue Code Section 409A and the regulations thereunder, such payments subject to Section 409A shall be deferred until at least six (6) months after the
date of termination. Any payment of nonqualified deferred compensation otherwise due in such six (6) month period shall be suspended and become payable in a lump sum at the end of such six (6) month period, and shall not otherwise be
subject to any offset or reduction solely because of said deferral. However, any payments not subject to Section 409A shall be immediately payable and will not be suspended or deferred. A Change of Control, for purposes of this Corrected Second
Amendment, is (i) an event whereby any natural person, corporation, general partnership, limited partnership, joint venture, proprietorship or other business organization (each, a “Person”), including such Person’s affiliates, or
“group” (as such term is defined under Section 13(d) of the Securities Exchange Act of 1934, as amended) acquires beneficial ownership of capital stock of Stereotaxis entitling the holder(s) thereof to more than fifty percent
(50%) of the voting power of the then outstanding capital stock of Stereotaxis with respect to the election of directors of Stereotaxis, or (ii) a sale or transfer of all or substantially all of the assets of Stereotaxis to any Person.

 d) Pro rata Payment of Bonus. In the event of termination under b) or c) above in a year in which you have served as CEO and President for no less
than six months, you will be entitled to receive a bonus from any bonus plan in which you were a participant as a member of management, which shall be paid on the same basis and at the same level as the other management employees who remain employed
by the Company, pro rated on the basis of the number of days in the year that you worked prior to your termination. 
  

 3 

 e) Medical and Dental Insurance Continuation. In the event of termination under b) or c) above you shall be
entitled to participate in the Company’s then-prevailing medical and dental plans upon the same contribution terms as those provided to or for the benefit of the Company’s employees from time to time during the 24-month period following
your Separation Date, after which time such benefits will cease. This obligation will cease sooner than twenty-four months following your date of termination, if and at such time as you assume a full-time position with any other employer. Your
participation in all other Company provided benefit plans and programs shall cease as of your termination date. 
 f) Release of Claims. The salary
continuation payments and other post-termination compensation benefits are conditioned on and subject to your compliance with all post-termination restrictions and covenants and provided that, as a condition precedent to your receipt of the salary
continuance payments you shall execute a release which releases the Company and its representatives from any and all claims that you may have against us. You are not entitled to salary continuation if your termination is voluntary or for cause. The
release required by this section shall be in the form approved by the Company and must be executed and returned to the Company within thirty (30) days of your termination of employment to avoid forfeiture of the salary continuation payments and
other post-termination benefits. 
 SECTION 2. The Confidentiality and NonCompete Agreement previously entered into by the
Parties in connection with the Employment Agreement (Exhibit A thereto) is hereby deleted in its entirety and replaced with the following: 
 2.1
Confidential Information, Non-Competition, and Non-Disparagement. 
 a) Definitions. For purposes of this Agreement: 
 (i) “Business” shall mean and include the development, manufacture and sale of equipment, software, devices, and methods in the field of
remote, computer-controlled or computer-aided navigation and delivery of interventional disposable devices, for endovascular applications (including electrophysiology and interventional cardiology), and within the peripheral vasculature in
cardiology applications, with or without the use of magnetic devices or systems, and related interventional workstations and networks, used in or with interventional medical procedures, and related areas of research and business development being
currently implemented by the Company, all as presented from time to time to the Stereotaxis Board of Directors. 
 (ii) “Related
Parties” shall mean and include (a) any and all of our customers served by the Company or any of our personnel or distributors or agents or at any time during the final two years of your employment with us, (b) material investors
whom you contacted or met or corresponded with concerning an investment in or loan to the Company during your final two years of employment with us, (c) companies or entities or their representatives with respect to which you prepared and
submitted materials to the Board of Directors for the purpose of pursuing a collaboration or alliance and associated Confidential Information at any time during your final two years of employment with us, (d) prospective new customers,
investors or collaborators which become affiliated with us during the term of this Agreement. 
  

 4 

 (iii) “Restricted Period” shall mean the period of your employment with us plus two
(2) years immediately following the date of your termination for any reason. 
 (iv) “Territory” shall mean the
geographic regions for which you have executive, managerial, supervisory, sales, marketing and/or other responsibilities at any time during your employment with us, which you acknowledge is worldwide. 
 b) Confidentiality. 
 (i) You agree to keep
secret and confidential, and not to use or disclose to any third parties, including but not limited to Related Parties, except as required for the performance of your responsibilities on behalf of the Company any confidential or proprietary
information, including but not limited to intellectual property, systems, programs, analyses, and/or other information of Company acquired during the course or as a result of your employment with Company (collectively, “Confidential
Information”). Excluded from the scope and definition of Confidential Information is information made generally available to the public in any manner other than a breach of this Paragraph (b) by you, and information required to be
disclosed by you pursuant to process of law. In that regard and in recognition that due to the nature and duration of your employment by the Company the use and disclosure of Confidential Information would inevitably result from your involvement
with or engagement by the Company’s competitors or Related Parties in connection with Business as defined herein, you agree that the covenants relating to non-competition in Paragraph (c) hereinbelow are appropriate and fair and necessary
to the protection of Confidential Information hereunder. 
 (ii) All notes, records, correspondence, data, hardware, software, documents or
the like obtained by or provided to Company regarding the Business, or otherwise made, produced, or compiled during the course or as a result of your employment with Company which contain Confidential Information, regardless of the type of medium
that such is preserved in, are the sole and exclusive property of Company, and shall be surrendered to Company upon your termination for any reason. 
 (iii) Based on the information available to you in your current position, you covenant that you have not disclosed, and will not disclose any information, whether confidential, proprietary, or otherwise, which you are
not legally free to disclose. You agree to adhere to these commitments now and in the future and further, you agree that during the Restricted Period, Company may contact you and request your cooperation and consultation in securing data or
information about which you may have particular knowledge, and you agree to fully and confidentially cooperate in any such consultations. 
 c)
Non-Competition; Restrictive Covenants. 
 (i) You hereby acknowledge and agree that (a) the Company competes globally for
and has relationships with customers, collaborators, employees, distributors, agents, and investors throughout the world; and has spent substantial time, money and effort over the years in developing and solidifying its relationships with Related
Parties and protecting its Confidential Information and 

  

 5 

 
goodwill, (b) long-term customer and investor relationships and collaborations with other companies can be difficult to develop and require a
significant investment of time, effort and expense, (c) we compensate our employees to, among other things, develop and preserve goodwill, loyalty and contacts among Related Parties, as well as Confidential Information, for and on behalf of us,
(d) the Company, in all fairness, needs certain protection in order to ensure that there is no disclosure, misappropriation or misuse of any Confidential Information, which would cause injury or disruption to or interference with the operation
of the Company Business, (e) the Company is hereby agreeing to pay you based upon your assurances and promises contained herein not to misuse or divert the Company’s Confidential Information, and (f) because of your role in the
Company, any interactions concerning the Business that you have with competitors or Related Parties after termination of your employment may result in the disclosure of Confidential Information or may affect the Company’s relationships with
competitors or Related Parties. 
 (ii) In consideration of the foregoing, as well as the Company’s entering into this Agreement and
making the payments and granting the other benefits herein, except as required for the performance of your responsibilities on behalf of the Company you shall not during the Restricted Period, directly or indirectly, on your behalf or for or on
behalf of any other person, firm, corporation or entity. 
 (A) provide consultative services with or without pay, own,
manage, operate, join, control, participate in, or be connected as a stockholder, general partner, officer, director, agent, consultant, independent contractor, or otherwise with, any business, individual, partner, firm, corporation, or other entity
which is then in competition with the Company or engaged in Business, including without limitation to the generality of the foregoing, those firms listed on Attachment A or the divisions, departments, or affiliates engaged in the
Business within those firms listed on Attachment B, 
 (B) provide any executive, managerial, supervisory,
sales, marketing, research, or customer-related services to assist any competitor in competing, directly or indirectly, against us with respect to Business, in the Territory; 
 (C) obtain or use our Confidential Information and/or to divert goodwill generated and/or developed for or on behalf of us; 
 (D) solicit, divert, or take away, or attempt to solicit, divert or take away, from us the business of any customers for the purpose of
selling or providing to or servicing for any such customer any product or service which is part of the Business; 
 (E)
knowingly to cause or attempt to cause any customer of Company to terminate or reduce their existing relationships with us; or 
 (F) knowingly to solicit, induce, or hire, or attempt to solicit, induce, or hire, any employee, consultant, or distributor of the Company to leave the employ of us and/or to work for any competitor of the Company. 
 d) Nondisparagement. You and we agree that neither party will in any way disparage the other party including current or former officers, directors and
employees of the Company, and neither party will, at any time, make or solicit any comments, statements or the like to the media or to others, including their agents or representatives, that may be considered to be derogatory or detrimental to the
good name or business reputation of either party. 
  

 6 

 e) Acknowledgements Regarding Restrictions. 
 (i) We agree the restrictions herein shall apply only to prevent you from making contacts and providing services relating to the Business, and/or
regarding which you have Confidential Information at any time, except as required for the performance of your responsibilities on behalf of the Company. You agree that the restrictions herein, both separately and in total, are reasonable and
enforceable in view of, among other things, (A) our legitimate interests in protecting Confidential Information, goodwill and relationships with Related Parties, (B) the narrow range of the activities prohibited, (C) the Confidential
Information to which you have had and will have access, which you agree has a useful competitive life of more than two years, and (D) your background, which is such that the restrictions should not impose any undue hardship on you. 

(ii) None of these restrictions is intended to prevent you from owning up to one percent (1%) of the publicly traded stock of any company, or
after termination of your employment with the Company, providing services to or being employed by firms such as those listed on Attachment B in divisions, departments, or affiliates within those firms not engaged in Business, so long as the
restrictions in Sections 2.1(b) or (c), or any of your duties or obligations under the Confidentiality or Non-Competition provisions of this Agreement are not violated thereby. 
 (iii) In the event of a breach or threatened breach of any of your duties or obligations under the Confidentiality or Non-Competition provisions hereof,
the Company shall be entitled, in addition to any other legal or equitable remedies it may have in connection therewith (including any right to damages that it may suffer), to temporary, preliminary and permanent injunctive relief restraining such
breach or threatened breach. You hereby expressly acknowledge that the harm which might result to the Company as a result of any noncompliance by you with any of these provisions would be largely irreparable. You specifically agree that if
there is a question as to the enforceability of any of the restrictions in 2.1(c)(ii)p you will not engage in any conduct inconsistent with or contrary to such provision during the Restricted Period unless and until the question has been resolved by
a court of competent jurisdiction in a manner that would permit such conduct. 
 (iv) Company’s failure to enforce at any time any of
the provisions of this Agreement or to require at any time your performance of any of the provisions hereof shall in no way be construed to be a waiver of such provisions or to affect either the validity of this Agreement, or any part hereof, or the
right of Company thereafter to enforce each and every provision in accordance with the terms of this Agreement. 
 (v) If any provision of
this Agreement is adjudicated to be invalid or unenforceable under applicable law in any jurisdiction, the validity or enforceability of the remaining provisions thereof shall be unaffected as to such jurisdiction and such adjudication shall not
affect the validity or enforceability of such provisions in any other jurisdiction. To the extent that any provision of this Agreement is adjudicated to be invalid or unenforceable because it is overbroad, that provision shall not be void, but
rather shall be limited only to the extent required by applicable law and enforced as to limited. The parties expressly acknowledge and agree that this Section is reasonable in view of the parties’ respective interests. 
  

 7 

 2.2 Conflict of Interest You shall take no action or obtain any direct or indirect interests in or
relationships with any organization that might affect the objectivity and independence of your judgment or conduct in carrying out duties and responsibilities to Company under this Agreement. Any such actions or interests which may even create the
appearance of a conflict of interest shall be promptly brought to the attention of Company.  
 2.3 Notification of Prospective or Subsequent
Employers. You agree to notify any prospective employer of the existence and terms of this Agreement, prior to acceptance of employment outside of the Company. Company may inform any person or entity subsequently employing You, or evidencing
an intention to employ you, of the nature of the information Company asserts to be Confidential Information, and may inform that person or entity of the existence of this Agreement, the terms hereof, and provide to that person or entity a copy of
this Agreement. 
 2.4 Inventions and Patents. You agree that you will promptly, from time to time, fully inform and disclose to Company all
inventions, designs, improvements, and discoveries which you now have or may discover during the term of this Agreement which pertain or relate to the Business of Company or to any experimental work carried on by Company, whether conceived by you
alone or with others and whether or not conceived during regular working hours. All such inventions, designs, improvements, and discoveries shall be the exclusive property of Company. You shall assist Company at Company’s sole expense, to
obtain patents on all such inventions, designs, improvements, and discoveries deemed patentable by Company, and shall execute all documents and do all things necessary to obtain patents, vest Company with full and exclusive title thereto, and
protect the same against infringement by others. You shall be entitled to no additional compensation for any and all inventions or designs made during the course of this Agreement. 
 SECTION 3. All other provisions of the Employment Agreement not hereby amended shall remain in full force and effect. 
 SECTION 4. This Corrected Second Amendment and the Employment Agreement shall be read and construed together as a single instrument.

 SECTION 5. This Corrected Second Amendment and the rest of this Agreement shall be interpreted in accordance with and
governed by the laws of the State of Missouri. 
 IN WITNESS WHEREOF, the parties have executed this Corrected Second Amendment on the date first written
below. 
  

							
		 		 	STEREOTAXIS, INC.
				
	Date: August 6, 2009	 		 	By:	 	 /s/ Fred A. Middleton

		 		 	Name:	 	Fred A. Middleton
		 		 	Title:	 	Chairman of the Board of Directors

  

 8 

							
	Date: August 4, 2008	 		 	EMPLOYEE:
			
		 		 	 /s/ Michael P. Kaminski

		 		 	Michael P. Kaminski

  

 9 

 Attachment A 
  

	1.	Catheter Robotics 

  

	2.	Corindus 

  

	3.	Hansen 

  

	4.	Magnetecs 

  

	5.	SmithCurl/Curlview 

  

	6.	Systems One 

  

 10 

 Attachment B 
  

	1.	Atricure 

  

	2.	Boston Scientific 

  

	3.	Biosense Webster 

  

	4.	Biotronik 

  

	5.	GE Medical 

  

	6.	Intuitive Surgical 

  

	7.	Medtronics 

  

	8.	Philips 

  

	9.	Pulse Technologies 

  

	10.	Siemens 

  

	11.	St. Jude 

  

	12.	Swiss Medical 

  

 11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00161-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00161-of-00352.parquet"}]]