Document:

Exhibit 10.1

    EXHIBIT
      10.1

     

    NATIONAL
      PENN BANCSHARES, INC.

    EMPLOYEE
      STOCK PURCHASE PLAN

     

    (As
      amended and restated,

    effective
      December 31, 2006)

    

    The
      following constitutes the provisions of the Employee Stock Purchase Plan (the
      "Plan") of National Penn Bancshares, Inc. (the "Company").

    

    1. Purpose.
      The
      purpose of the Plan is to provide employees of the Company and its Subsidiaries
      with an opportunity to purchase Common Stock of the Company. It is the Company's
      intention to have the Plan qualify as an "Employee Stock Purchase Plan" under
      Section 423 of the Code. Accordingly, the provisions of the Plan shall be
      construed so as to extend and limit participation in a manner consistent with
      the requirements of that section of the Code.

    

    2. Definitions.

    

    (a) "Board"
      means
      the Board of Directors of the Company.

    

    (b) "Code"
      means
      the Internal Revenue Code of 1986, as amended.

    

    (c) "Common
      Stock"
      means
      the Company's common stock, without par value.

    

    (d) "Compensation"
      means
      all regular straight-time gross earnings excluding payments for overtime,
      incentive compensation, incentive payments, bonuses, commissions and other
      compensation. For Employees paid on a commissions only basis, "straight-time
      gross earnings" means commissions paid.

    

    (e) "Continuous
      Status as an Employee"
      means
      the absence of any interruption or termination of service as an Employee.
      Continuous Status as an Employee shall not be considered interrupted in the
      case
      of a leave of absence agreed to in writing by the Company, provided that such
      leave is for a period of not more than 90 days or re-employment upon the
      expiration of such leave is guaranteed by contract or statute.

    

    (f) "Contributions"
      means
      all amounts credited to the account of a participant pursuant to the
      Plan.

    

    (g) "Employee"
      means
      any person employed by the Company or one of its Subsidiaries, including any
      officer of the Company or of one of its Subsidiaries.

    

    (h) "Exchange
      Act"
      means
      the Securities Exchange Act of 1934, as amended.

    

    (i) "Offering
      Date"
      means
      the first business day of each Offering Period of the Plan.

    

    (j) "Offering
      Period"
      means a
      period of three (3) months beginning on January 1, April 1, July 1 or October
      1
      of each year.

    

    (k) "Purchase
      Date"
      means
      the last day of each Offering Period of the Plan.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (l) "Subsidiary"
      means a
      corporation of which not less than fifty percent (50%) of the voting shares
      are
      held by the Company or a Subsidiary, whether or not such corporation now exists
      or is hereafter organized or acquired by the Company or a
      Subsidiary.

    

    3. Eligibility.

    

    (a) Any
      person who has been continuously employed as an Employee for at least three
      (3)
      months prior to the Offering Date of a given Offering Period shall be eligible
      to participate in such Offering Period under the Plan, subject to the
      requirements of Section 5(a) and the limitations imposed by Section 423(b)
      of
      the Code.

    

    (b) No
      Employee shall be granted an option under the Plan (i) if, immediately after
      the
      grant, such Employee (or any other person whose stock would be attributed to
      such Employee pursuant to Section 424(d) of the Code) would own stock and/or
      hold outstanding options to purchase stock possessing five percent (5%) or
      more
      of the total combined voting power or value of all classes of stock of the
      Company or of any Subsidiary, or (ii) which permits his or her rights to
      purchase stock under all employee stock purchase plans (described in Section
      423
      of the Code) of the Company and its Subsidiaries to accrue at a rate which
      exceeds Twenty-Five Thousand Dollars ($25,000) of fair market value of such
      stock (determined at the time such option is granted) for each calendar year
      in
      which such option is outstanding at any time.

    

    4. Offering
      Periods.
      The
      Plan shall be implemented by a series of Offering Periods, with a new Offering
      Period commencing on January 1, April 1, July 1 and October 1 of each year.
      The
      Plan shall continue until terminated in accordance with Section 19
      hereof.

    

    5. Participation.
      An
      eligible Employee may become a participant in the Plan by completing a
      subscription agreement on the form provided by the Company and filing it with
      the Company prior to the applicable Offering Date, unless a later time for
      filing the subscription agreement is set by the Board for all eligible Employees
      with respect to a given offering. The subscription agreement shall set forth
      the
      percentage of the participant's Compensation (which shall be not less than
      one
      percent (1%) and not more than ten percent (10%)) to be paid as Contributions
      pursuant to the Plan.

    

    6. Method
      of Payment of Contributions.

    

    (a) The
      participant shall elect to have payroll deductions made on each payday during
      an
      Offering Period in an amount not less than one percent (1%) and not more than
      ten percent (10%) of such participant's Compensation on each such payday;
      provided that the aggregate of such payroll deductions during an Offering Period
      shall not exceed ten percent (10%) of the participant's aggregate Compensation
      during such Offering Period. All payroll deductions made by a participant shall
      be credited to his or her account under the Plan. A participant may not make
      any
      additional payments into such account.

    

    (b) Payroll
      deductions shall commence on the first payroll following the Offering Date
      and
      shall end on the last payroll paid on or prior to the Purchase Date of the
      offering to which the subscription agreement is applicable, unless sooner
      terminated by the participant as provided in Section 10.

    

    (c) A
      participant may discontinue his or her participation in the Plan as provided
      in
      Section 10, or, on one occasion only during an Offering Period, may increase
      or
      decrease the rate of his or her Contributions during such Offering Period,
      without withdrawing from the Plan, by completing and filing with the Company
      a
      new subscription agreement within the ten (10) day period immediately preceding
      the beginning of any month during the Offering Period. The change in rate shall
      be effective as of the beginning of the month following the date of filing
      of
      the new subscription agreement and shall comply with the limits as provided
      in
      Section 6(a).

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    (d) To
      the
      extent necessary to comply with Section 423(b)(8) of the Code and Section 3(b)
      herein, a participant's payroll deductions may be decreased to zero percent
      (0%)
      at such time, during any Offering Period which is scheduled to end during the
      current calendar year, that the aggregate of all payroll deductions accumulated
      with respect to such Offering Period and any other Offering Period ending within
      the same calendar year equals $25,000. Payroll deductions shall recommence
      at
      the rate provided in such participant's subscription agreement at the beginning
      of the first Offering Period which is scheduled to end in the following calendar
      year, unless terminated by the participant as provided in Section
      10.

    

    7. Grant
      of Option.

    

    (a) On
      the
      Offering Date of each Offering Period, each eligible Employee participating
      in
      such Offering Period shall be granted an option to purchase, on the Purchase
      Date of such Offering Period, the number of shares of Common Stock determined
      by
      dividing such Employee's Contributions accumulated prior to such Purchase Date
      and retained in the participant's account as of the Purchase Date by ninety
      percent (90%) of the fair market value of a share of Common Stock on the
      Purchase Date; provided, however, that the maximum number of shares an Employee
      may purchase in any one calendar year shall be determined at the Offering Date
      by dividing $25,000 by the fair market value of a share of Common Stock on
      the
      Offering Date, and provided further that such purchase shall be subject to
      the
      limitations set forth in Sections 3(b) and 12 hereof. The fair market value
      of a
      share of Common Stock shall be determined as provided in Section 7(b)
      herein.

    

    (b) The
      option price per share of the shares offered in a given Offering Period shall
      be
      ninety percent (90%) of the fair market value of a share of Common Stock on
      the
      Purchase Date. The fair market value of a share of Common Stock on a given
      date
      shall be determined as follows, unless a different method of calculation is
      required by applicable law:

    

    (i) Based
      on
      the closing sale price of a share of Common Stock on the given date, as reported
      on The Nasdaq Stock Market (“Nasdaq”) (or on such other stock exchange on which
      the Common Stock may be listed);

    

    (ii) If
      no
      closing sale price is reported on the given date, then based on the closing
      sale
      price of a share of Common Stock on the next preceding date on which there
      was a
      sale, as reported on Nasdaq (or on such other stock exchange on which the Common
      Stock may be listed); or

    (iii) If
      the
      Common Stock is not listed on Nasdaq or on a stock exchange, by the Committee
      in
      its sole discretion.

     

    8. Exercise
      of Option.
      Unless
      a participant withdraws from the Plan as provided in Section 10, his or her
      option for the purchase of shares will be exercised automatically on the
      Purchase Date of the Offering Period, and the maximum number of full and
      fractional shares subject to option will be purchased for him or her at the
      applicable option price with the accumulated Contributions in his or her
      account. The shares purchased upon exercise of an option hereunder shall be
      deemed to be transferred to the participant on the Purchase Date. During his
      or
      her lifetime, a participant's option to purchase shares hereunder is exercisable
      only by him or her.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    9. Stock
      Certificates; Cash Balances; Dividend Reinvestment.

    

    (a) Stock
      certificates will not be issued to participants for shares purchased on the
      Purchase Date. Shares purchased for a participant on a Purchase Date shall
      be
      held in an account for such participant under the Plan, and all rights accruing
      to an owner of record of such shares (including voting rights) shall belong
      to
      the participant for whose account such shares are held. A participant may file
      a
      written election with the Company to withdraw some or all of the shares of
      Common Stock held in his or her account, in which case a stock certificate
      will
      be issued to such participant for such withdrawn shares.

    

    (b) Each
      participant in the Plan shall be deemed to have authorized the collection and
      accumulation of all dividends paid on shares held in his or her account and
      the
      application of such dividends to the purchase of additional full and fractional
      shares of Common Stock as of the dividend payment date, at its fair market
      value
      on such date (without any discount). Fair market value shall be determined
      as of
      the dividend payment date, in the manner set forth in Section 7(b)
      hereof.

    

    10. Withdrawal;
      Termination of Employment.

    

    (a) A
      participant may withdraw all, but not less than all, of the Contributions
      credited to his or her account under the Plan at any time prior to the Purchase
      Date of an Offering Period by giving written notice to the Company. All of
      such
      participant's Contributions credited to his or her account will be paid to
      him
      or her promptly after receipt of such notice of withdrawal, and his or her
      option for the current period will be automatically terminated, and no further
      Contributions for the purchase of shares will be made during the Offering
      Period.

    

    (b) Upon
      termination of a participant's Continuous Status as an Employee prior to the
      Purchase Date of an Offering Period for any reason, including retirement or
      death, the Contributions credited to his or her account prior to the Purchase
      Date will be returned to him or her or, in the case of his or her death, to
      the
      person or persons entitled thereto under Section 14, and his or her option
      will
      automatically be terminated.

    

    (c) A
      participant who withdraws from an Offering Period will not be eligible to
      participate again in the Plan until the first anniversary of the Purchase Date
      of the Offering Period during which such participant withdrew from the Plan.
      The
      Board, or its committee established under Section 13 hereof, may waive the
      non-participation period in its sole discretion. A participant's withdrawal
      from
      an Offering Period will not have any effect upon his or her eligibility to
      participate in any similar plan which may hereafter be adopted by the
      Company.

    

    11. No
      Interest.
      No
      interest shall accrue on the Contributions of a participant in the
      Plan.

    

    12. Stock.

    

    (a) The
      maximum number of shares of Common Stock which shall be made available for
      sale
      under the Plan shall be 1,000,000 shares, subject to adjustment upon changes
      in
      capitalization of the Company as provided in Section 18. If the total number
      of
      shares which would otherwise be subject to options granted pursuant to Section
      7(a) hereof on the Offering Date of an Offering Period exceeds the number of
      shares then available under the Plan (after deduction of all shares for which
      options have been exercised or are then outstanding), the Company shall make
      a
      pro rata allocation of the shares remaining available for option grant in as
      uniform a manner as shall be practicable and as it shall determine to be
      equitable. Any amounts remaining in an Employee's account not applied to the
      purchase of Common Stock pursuant to this Section 12 shall be refunded on or
      promptly after the Purchase Date. In such event, the Company shall give written
      notice of such reduction of the number of shares subject to the option to each
      Employee affected thereby and shall similarly reduce the rate of Contributions,
      if necessary.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    (b) No
      participant will have any interest or voting rights in any shares covered by
      his
      or her option until such option has been exercised.

    

    13. Administration.
      The
      Board, or a committee named by the Board, shall supervise and administer the
      Plan and shall have full power to (i) adopt, amend and rescind any rules deemed
      desirable and appropriate for the administration of the Plan and not
      inconsistent with the Plan, (ii) construe and interpret the Plan, and (iii)
      make
      all other determinations necessary or advisable for the administration of the
      Plan. The Board, or a committee named by the Board, may engage a firm or entity
      to administer the Plan, subject to the Board's or committee's control and
      authority.

    

    14. Designation
      of Beneficiary.

    

    (a) A
      participant may file with the Company a written designation of a beneficiary
      who
      is to receive any shares and/or cash, if any, from the participant's account
      under the Plan upon such participant's death.

    

    (b) Such
      designation of beneficiary may be changed by the participant at any time by
      written notice. Upon the death of a participant and in the absence of a
      beneficiary validly designated under the Plan who is living at the time of
      such
      participant's death, the Company shall deliver such shares and/or cash to the
      executor or administrator of the estate of the participant, or if no such
      executor or administrator has been appointed (to the knowledge of the Company),
      the Company, in its sole discretion, may deliver such shares and/or cash to
      the
      spouse or to any one or more dependents or relatives of the participant, or
      if
      no spouse, dependent or relative is known to the Company, then to such other
      person as the Company may designate.

    

    15. Transferability.
      Neither
      Contributions credited to a participant's account nor any rights with regard
      to
      the exercise of an option or to receive shares under the Plan may be assigned,
      transferred, pledged or otherwise disposed of in any way (other than by will,
      the laws of descent and distribution or as provided in Section 14 hereof) by
      the
      participant. Any such attempt at assignment, transfer, pledge or other
      disposition shall be without effect, except that the Company may treat such
      act
      as an election to withdraw funds in accordance with Section 10.

    

    16. Use
      of
      Funds.
      All
      Contributions received or held by the Company under the Plan may be used by
      the
      Company for any corporate purpose, and the Company shall not be obligated to
      segregate such Contributions.

    

    17. Reports.
      Individual accounts will be maintained for each participant in the Plan.
      Statements of account will be given to participating Employees promptly
      following the Purchase Date, which statements will set forth the amounts of
      Contributions, the per share purchase price, the number of shares purchased
      and
      the remaining cash balance, if any.

    

    18. Adjustments
      Upon Changes in Capitalization; Corporate Transactions.

    

    (a) Subject
      to any required action by the shareholders of the Company, the number of shares
      of Common Stock covered by each option under the Plan which has not yet been
      exercised and the number of shares of Common Stock which have been authorized
      for issuance under the Plan but have not yet been placed under option
      (collectively, the "Reserves"), as well as the price per share of Common Stock
      covered by each option under the Plan which has not yet been exercised, shall
      be
      proportionately adjusted for any increase or decrease in the number of issued
      shares of Common Stock resulting from a stock split, reverse stock split, stock
      dividend, combination or reclassification of the Common Stock, or any other
      increase or decrease in the number of shares of Common Stock affected without
      receipt of consideration by the Company.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    (b) Upon
      a
      proposed dissolution or liquidation of the Company, the Offering Period will
      terminate immediately prior to the consummation of such proposed action, unless
      otherwise provided by the Board.

    

    (c) Upon
      a
      sale of all or substantially all of the assets of the Company or the merger
      of
      the Company with or into another corporation, each option under the Plan shall
      be assumed or an equivalent option shall be substituted by such successor
      corporation or a parent or subsidiary of such successor corporation, unless
      the
      Board determines, in the exercise of its sole discretion and in lieu of such
      assumption or substitution, to shorten the Offering Period then in progress
      by
      setting a new Purchase Date (the "New Purchase Date"). If the Board shortens
      the
      Offering Period then in progress in lieu of assumption or substitution in the
      event of a merger or sale of assets, the Board shall notify each participant
      in
      writing, at least ten (10) days prior to the New Purchase Date, that the
      Purchase Date for his or her option has been changed to the New Purchase Date
      and that his or her option will be exercised automatically on the New Purchase
      Date, unless prior to such date he or she has withdrawn from the Offering Period
      as provided in Section 10. For purposes of this Section 18, an option granted
      under the Plan shall be deemed to be assumed if, following the sale of assets
      or
      merger, the option confers the right to purchase, for each share of option
      stock
      subject to the option immediately prior to the sale of assets or merger, the
      consideration (whether stock, cash or other securities or property) received
      in
      the sale of assets or merger by holders of Common Stock for each share of Common
      Stock held on the effective date of the transaction (and if such holders were
      offered a choice of consideration, the type of consideration chosen by the
      holders of a majority of the outstanding shares of Common Stock); provided,
      however, that if such consideration received in the sale of assets or merger
      was
      not solely common stock of the successor corporation or its parent (as defined
      in Section 424(e) of the Code), the Board may, with the consent of the successor
      corporation and the participant, provide for the consideration to be received
      upon exercise of the option to be solely common stock of the successor
      corporation or its parent, equal in fair market value to the per share
      consideration received by holders of Common Stock in the sale of assets or
      merger.

    

    (d) The
      Board
      may, if it so determines in the exercise of its sole discretion, also make
      provision for adjusting the Reserves, as well as the price per share of Common
      Stock covered by each outstanding option, if the Company effects one or more
      reorganizations, recapitalizations, rights offerings or other increases or
      reductions of shares of its outstanding Common Stock, or if the Company is
      consolidated with or merged into any other corporation.

    

    19. Amendment
      or Termination.

    

    (a) The
      Board
      may at any time terminate or amend the Plan. Except as provided in Section
      18,
      no such termination may affect options previously granted, nor may an amendment
      make any change in any option theretofore granted which adversely affects the
      rights of any participant. In addition, to the extent, if any, necessary to
      comply with Section 423 of the Code (or any successor provision) or any other
      applicable law or regulation, the Company shall obtain shareholder approval
      in
      such a manner and to such a degree as so required.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    (b) Without
      shareholder consent and without regard to whether any participant rights may
      be
      considered to have been adversely affected, the Board (or its committee) shall
      be entitled to permit payroll withholding in excess of the amount designated
      by
      a participant in order to adjust for delays or mistakes in the Company's
      processing of properly completed withholding elections, establish reasonable
      waiting and adjustment periods and/or accounting and crediting procedures to
      ensure that amounts applied toward the purchase of Common Stock for each
      participant properly correspond with amounts withheld from such participant's
      Compensation, and establish such other limitations or procedures as the Board
      (or its committee) determines in its sole discretion advisable which are
      consistent with the Plan.

    

    20. Notices.
      All
      subscription agreements, designations, notices or other communications by a
      participant to the Company under or in connection with the Plan shall be deemed
      to have been duly given when received in the form specified by the Company
      at
      the location, or by the person, designated by the Company for the receipt
      thereof.

    

    21. Conditions
      Upon Issuance of Shares.

    

    (a) Shares
      shall not be issued with respect to an option unless the exercise of such option
      and the issuance and delivery of such shares pursuant thereto shall comply
      with
      all applicable provisions of law, domestic or foreign, including, without
      limitation, the Securities Act of 1933, as amended, the Exchange Act, the rules
      and regulations promulgated thereunder, and the requirements of Nasdaq or any
      stock exchange upon which the shares may then be listed, and shall be further
      subject to the approval of counsel for the Company with respect to such
      compliance.

    

    (b) As
      a
      condition to the exercise of an option, the Company may require the person
      exercising such option to represent and warrant at the time of any such exercise
      that the shares are being purchased only for investment and without any present
      intention to sell or distribute such shares if, in the opinion of counsel for
      the Company, such a representation is required by any of the aforementioned
      applicable provisions of law.

    

    22. Effective
      Date; Term of Plan.
      The
      Plan was originally approved by the Board on December 18, 1996 and approved
      by
      the shareholders of the Company on April 22, 1997. The Plan, as amended and
      restated herein effective December 31, 2006, shall continue in effect for a
      term
      through June 30, 2017, provided it is approved by the Company’s shareholders at
      the 2007 annual meeting, unless sooner terminated under Section 19. If the
      Plan,
      as amended and restated herein, is not approved by the shareholders at the
      2007
      Annual Meeting, it shall terminate on June 30, 2007, unless sooner terminated
      under Section 19.

    

    23. Section
      16.
      With
      respect to persons subject to Section 16 of the Exchange Act, this Plan is
      intended to be a "tax-conditioned plan" within the meaning of Rule 16b-3(c)
      and
      to otherwise comply with all applicable conditions of Rule 16b-3 (or any
      successor rule) under the Exchange Act. Accordingly, the provisions of the
      Plan
      shall be construed in a manner consistent with the requirements of Rule
      16b-3(c).

    

    24. Captions.
      All
      section captions in this Plan are for convenience of reference
      only.Exhibit 10.1

                                  AMENDMENT TO

                   LOAN AGREEMENT AND SECURED PROMISSORY NOTE

     AMENDED AGREEMENT dated as of April 23, 2007 by and between Integrated
Surgical Systems, Inc., a Delaware corporation ("ISS"), and Novatrix Biomedical,
Inc., a California corporation ("Novatrix").

     WHEREAS, the parties entered into that certain Loan Agreement and Secured
Promissory Note dated August 4, 2006 (the "Original Loan Agreement");

     WHEREAS, the parties are simultaneously entering into an amendment to that
certain Asset Purchase Agreement dated August 4, 2006; and

     WHEREAS, the parties wish to amend the Original Loan Agreement as set forth
herein.

     NOW, THEREFORE, the parties hereby agree as follows:

     1.   Paragraph (a) of the Original Loan Agreement is hereby amended to
          replace the words "June 30, 2007" in the first line thereof in their
          entirety with the words "September 30, 2007."

     2.   Section 1.3 of the Original Loan Agreement is hereby amended in its
          entirety to read as follows:

               "$350,000 per month payable commencing on July 1, 2007 and the
               first day of each successive month thereafter until the earlier
               of (i) September 1, 2007 or (ii) such time as Stockholder
               Approval has been obtained."

     3.   Section 9.1 of the Original Loan Agreement is hereby amended in its
          entirety to read as follows:

               "Borrower fails to pay timely any of the principal amount due
               under this Note or any accrued interest or other amounts due
               under this Note within three (3) months from the date of a
               meeting of the stockholders of Borrower in which Stockholder
               Approval is not obtained; or"

     4.   This Agreement shall be construed in accordance with, and governed in
          all respects by, the internal laws of the State of California (without
          giving effect to principles of conflicts of laws).

<PAGE>

     5.   This Agreement may be executed in counterparts, each of which shall be
          deemed an original, and all of which, when taken together, shall
          constitute one and the same instrument.

     6.   Any and all terms and provisions contained in the Original Loan
          Agreement not otherwise amended pursuant to this Agreement shall
          remain in full force and effect in accordance with the terms thereof.

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the
first day set forth above.

                                            INTEGRATED SURGICAL SYSTEMS, INC.

                                            By: /s/ Ramesh Trivedi
                                                --------------------------------
                                                Name:    Ramesh Trivedi
                                                Title:   Chief Executive Officer

                                            NOVATRIX BIOMEDICAL, INC.

                                            By: /s/ Soonkap Hahn
                                                --------------------------------
                                                Name:    Soonkap Hahn
                                                Title:   President

                                       2

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