Document:

exv10w32

 

EXHIBIT 10.32

INTRABIOTICS PHARMACEUTICALS, INC.

2004 STOCK INCENTIVE PLAN

(As Amended and Restated Effective February 10, 2006)

ARTICLE ONE

GENERAL PROVISIONS

     I. PURPOSE OF THE PLAN

          This 2004 Stock Incentive Plan is intended to promote the interests of IntraBiotics
Pharmaceuticals, Inc., a Delaware corporation, by providing eligible persons in the Corporation’s
service with the opportunity to acquire a proprietary interest, or otherwise increase their
proprietary interest, in the Corporation as an incentive for them to remain in such service.

          Capitalized terms shall have the meanings assigned to such terms in the attached Appendix.

     II. STRUCTURE OF THE PLAN

          A. The Plan shall be divided into three separate equity incentive programs:

          - the Discretionary Grant Program under which eligible persons may, at the
discretion of the Plan Administrator, be granted options to purchase shares of Common Stock
or stock appreciation rights tied to the value of such Common Stock,

          - the Stock Issuance Program under which eligible persons may, at the discretion
of the Plan Administrator, be issued shares of Common Stock pursuant to restricted stock
awards, restricted stock units or other share right awards which vest upon the completion of
a designated service period or the attainment of pre-established performance milestones, or
such shares of Common Stock may be issued through direct purchase or as a bonus for services
rendered the Corporation (or any Parent or Subsidiary), and

          - the Automatic Option Grant Program under which eligible non-employee Board
members will automatically receive option grants at designated intervals over their period
of continued Board service.

          B. The provisions of Articles One and Five shall apply to all equity programs under the Plan
and shall govern the interests of all persons under the Plan.

 

 

     III. ADMINISTRATION OF THE PLAN

          A. The Board shall serve as the Plan Administrator.

          B. The Board as Plan Administrator shall have full power and authority (subject to the
provisions of the Plan) to establish such rules and regulations as it may deem appropriate for
proper administration of the Plan and to make such determinations under, and issue such
interpretations of, the provisions of the Plan and any outstanding stock options, stock
appreciation rights, stock issuances or other stock-based awards thereunder as it may deem
necessary or advisable. Decisions of the Plan Administrator shall be final and binding on all
parties who have an interest in the Plan or any stock option, stock appreciation right, stock
issuance or other stock-based award thereunder.

          C. Service as the Plan Administrator shall constitute service as a Board member, and the
individuals serving in that capacity shall accordingly be entitled to full indemnification and
reimbursement as Board members for their service as Plan Administrator. No individual serving in
his or her capacity as Plan Administrator shall be liable for any act or omission made in good
faith with respect to the Plan or any stock option, stock appreciation right, stock issuance or
other stock-based award made or granted under the Plan.

     IV. ELIGIBILITY

          A. The persons eligible to participate in the Discretionary Grant and Stock Issuance Programs
are as follows:

          (i) Employees,

          (ii) non-employee members of the Board or the board of directors of any Parent
or Subsidiary, and

          (iii) consultants and other independent advisors who provide services to the
Corporation (or any Parent or Subsidiary).

          B. The Plan Administrator shall have full authority to determine, (i) with respect to the
grant of options or stock appreciation rights under the Discretionary Grant Program, which eligible
persons are to receive such grants, the time or times when those grants are to be made, the number
of shares to be covered by each such grant, the status of a granted option as either an Incentive
Option or a Non-Statutory Option, the time or times when each option or stock appreciation right is
to become exercisable, the vesting schedule (if any) applicable to the option or stock appreciation
right and the maximum term for which the option or stock appreciation right is to remain
outstanding and (ii) with respect to stock issuances or other stock-based awards under the Stock
Issuance Program, which eligible persons are to receive such issuances or awards, the time or times
when the issuances or awards are to be made, the number of shares subject to each such issuance or
award, the vesting schedule (if any)

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applicable to the shares which are the subject of such issuance or award and the consideration
for those shares.

          C. The Plan Administrator shall have the absolute discretion either to grant options or stock
appreciation right in accordance with the Discretionary Grant Program or to effect stock issuances
and other stock-based awards in accordance with the Stock Issuance Program.

          D. The individuals who shall be eligible to participate in the Automatic Option Grant Program
shall be limited to (i) those individuals who first become non-employee Board members on or after
the Plan Effective Date, whether through appointment by the Board or election by the Corporation’s
stockholders, and (ii) those individuals who continue to serve as non-employee Board members after
the Plan Effective Date. A non-employee Board member who has previously been in the employ of the
Corporation (or any Parent or Subsidiary) shall not be eligible to receive an option grant under
the Automatic Option Grant Program at the time he or she first becomes a non-employee Board member,
but shall be eligible to receive periodic option grants under the Automatic Option Grant Program
while he or she continues to serve as a non-employee Board member.

     V. STOCK SUBJECT TO THE PLAN

          A. The stock issuable under the Plan shall be shares of authorized but unissued or reacquired
Common Stock, including shares repurchased by the Corporation on the open market. The number of
shares of Common Stock initially reserved for issuance over the term of the Plan shall not exceed
2,050,000 shares. Such reserve shall consist of (i) the number of shares estimated to be
transferred to this Plan from the Predecessor Plan, including the shares subject to outstanding
options under the Predecessor Plan to be transferred to this Plan, upon stockholder approval of the
Plan at the 2004 Annual Meeting, (ii) plus an additional increase of approximately 1,200,000
shares.

          B. The number of shares of Common Stock available for issuance under the Plan shall
automatically increase on the first trading day of January each calendar year during the term of
the Plan, beginning with calendar year 2005, by an amount equal to five percent (5%) of the sum of
the following share numbers, calculated as of the last trading day in December of the immediately
preceding calendar year: (i) the total number of shares of Common Stock outstanding on that date
and (ii) the number of shares of Common Stock into which the outstanding shares of the
Corporation’s preferred stock are convertible on that date. In no event shall any such annual
increase exceed 2,000,000 shares.

          C. No one person participating in the Plan may receive stock options, stand-alone stock
appreciation rights, direct stock issuances (whether vested or unvested) or other stock-based
awards (whether in the form of restricted stock units or other share-right awards) for more than
1,000,000 shares of Common Stock in the aggregate per calendar year.

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          D. Shares of Common Stock subject to outstanding options (including options transferred to
this Plan from the Predecessor Plan) or other awards made under the Plan shall be available for
subsequent issuance under the Plan to the extent (i) those options or awards expire or terminate
for any reason prior to the issuance of the shares of Common Stock subject to those options or
awards or (ii) the awards are cancelled in accordance with the exchange/ repricing provisions of
Article Two. Unvested shares issued under the Plan and subsequently forfeited or repurchased by
the Corporation, at a price per share not greater than the original issue price paid per share,
pursuant to the Corporation’s repurchase rights under the Plan shall be added back to the number of
shares of Common Stock reserved for issuance under the Plan and shall accordingly be available for
subsequent reissuance. Should the exercise price of an option under the Plan be paid with shares
of Common Stock, then the authorized reserve of Common Stock under the Plan shall be reduced only
by the net number of shares issued under the exercised stock option. Should shares of Common Stock
otherwise issuable under the Plan be withheld by the Corporation in satisfaction of the withholding
taxes incurred in connection with the exercise of an option or stock appreciation right or the
issuance of fully-vested shares under the Stock Issuance Program, then the number of shares of
Common Stock available for issuance under the Plan shall be reduced only by the net number of
shares issued under the exercised stock option or stock appreciation right or the net number of
fully-vested shares issued under the Stock Issuance Program. Such withholding shall in effect be
treated under the Plan as a cash bonus, payable directly to the applicable taxing authorities on
behalf of the individual concerned, in an amount equal to the Fair Market Value of the withheld
shares, and not as an issuance and immediate repurchase of those shares.

          E. If any change is made to the Common Stock by reason of any stock split, stock dividend,
recapitalization, combination of shares, exchange of shares or other change affecting the
outstanding Common Stock as a class without the Corporation’s receipt of consideration, appropriate
adjustments shall be made by the Plan Administrator to (i) the maximum number and/or class of
securities issuable under the Plan, (ii) the maximum number and/or class of securities for which
any one person may be granted stock options, stand-alone stock appreciation rights, direct stock
issuances and other stock-based awards under the Plan per calendar year, (iii) the number and/or
class of securities for which grants are subsequently to be made under the Automatic Option Grant
Program to new and continuing non-employee Board members for service on the Board or any Board
committee, (iv) the number and/or class of securities and the exercise or base price per share in
effect under each outstanding option or stock appreciation right under the Plan, (v) the number
and/or class of securities subject to each outstanding restricted stock unit or other stock-based
award under the Plan, (vi) the number and/or class of securities and exercise price per share in
effect under each outstanding option transferred to this Plan from the Predecessor Plan and (vii)
the maximum number and/or class of securities by which the share reserve is to increase
automatically each calendar year pursuant to the provisions of Section V.B of this Article One.
Such adjustments to the outstanding options, stock appreciation rights or other stock-based awards
are to be effected in a manner which shall preclude the enlargement or dilution of rights and
benefits under those options, stock appreciation rights or other stock-based awards. The
adjustments determined by the Plan Administrator shall be final, binding and conclusive.

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          F. Outstanding awards granted pursuant to the Plan shall in no way affect the right of the
Corporation to adjust, reclassify, reorganize or otherwise change its capital or business structure
or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business
or assets.

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ARTICLE TWO

DISCRETIONARY GRANT PROGRAM

     I. OPTION TERMS

          Each option shall be evidenced by one or more documents in the form approved by the Plan
Administrator; provided, however, that each such document shall comply with the terms
specified below. Each document evidencing an Incentive Option shall, in addition, be subject to
the provisions of the Plan applicable to such options.

          A. Exercise Price.

               1. The exercise price per share shall be fixed by the Plan Administrator but shall not be less
than one hundred percent (100%) of the Fair Market Value per share of Common Stock on the option
grant date.

               2. The exercise price shall become immediately due upon exercise of the option and shall,
subject to the provisions of the documents evidencing the option, be payable in one or more of the
forms specified below:

               (i) cash or check made payable to the Corporation,

               (ii) shares of Common Stock held for the requisite period necessary to avoid a
charge to the Corporation’s earnings for financial reporting purposes and valued at
Fair Market Value on the Exercise Date, or

               (iii) to the extent the option is exercised for vested shares, through a
special sale and remittance procedure pursuant to which the Optionee shall
concurrently provide irrevocable instructions to (a) a brokerage firm (reasonably
satisfactory to the Corporation for purposes of administering such procedure in
compliance with the Corporation’s pre-clearance/pre-notification policies) to effect
the immediate sale of the purchased shares and remit to the Corporation, out of the
sale proceeds available on the settlement date, sufficient funds to cover the
aggregate exercise price payable for the purchased shares plus all applicable income
and employment taxes required to be withheld by the Corporation by reason of such
exercise and (b) the Corporation to deliver the certificates for the purchased
shares directly to such brokerage firm in order to complete the sale.

          Except to the extent such sale and remittance procedure is utilized, payment of the exercise
price for the purchased shares must be made on the Exercise Date.

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          B. Exercise and Term of Options. Each option shall be exercisable at such time or
times, during such period and for such number of shares as shall be determined by the Plan
Administrator and set forth in the documents evidencing the option. However, no option shall have
a term in excess of ten (10) years measured from the option grant date.

          C. Effect of Termination of Service.

               1. The following provisions shall govern the exercise of any options granted pursuant to the
Discretionary Grant Program that are outstanding at the time of the Optionee’s cessation of
Service:

               (i) Any option outstanding at the time of the Optionee’s cessation of Service
shall remain exercisable for such period of time thereafter as shall be determined
by the Plan Administrator and set forth in the documents evidencing the option, but
no such option shall be exercisable after the expiration of the option term.
However, in the event an Optionee should cease Employee status by reason of
Retirement, Permanent Disability or death, any outstanding option granted to such
Optionee under the Discretionary Grant Program shall remain exercisable for the
remainder of the option term.

               (ii) Any option outstanding at the time of the Optionee’s death and exercisable
in whole or in part at that time may be subsequently exercised by the personal
representative of the Optionee’s estate or by the person or persons to whom the
option is transferred pursuant to the Optionee’s will or the laws of inheritance or
by the Optionee’s designated beneficiary or beneficiaries of that option.

               (iii) Should the Optionee’s Service be terminated for Misconduct or should the
Optionee otherwise engage in Misconduct while holding one or more outstanding
options granted under this Article Two, then all of those options shall terminate
immediately and cease to be outstanding.

               (iv) During the applicable post-Service exercise period, the option may not be
exercised in the aggregate for more than the number of vested shares for which that
option is at the time exercisable. No additional shares shall vest under the option
following the Optionee’s cessation of Service, except to the extent (if any)
specifically authorized by the Plan Administrator in its sole discretion pursuant to
an express written agreement with the Optionee. Upon the expiration of the
applicable exercise period or (if earlier) upon the expiration of the option term,
the option shall terminate and cease to be outstanding for any shares for which the
option has not been exercised.

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               2. The Plan Administrator shall have complete discretion, exercisable either at the time an
option is granted or at any time while the option remains outstanding, to:

               (i) extend the period of time for which the option is to remain exercisable
following the Optionee’s cessation of Service from the limited exercise period
otherwise in effect for that option to such greater period of time as the Plan
Administrator shall deem appropriate, but in no event beyond the expiration of the
option term, and/or

               (ii) permit the option to be exercised, during the applicable post-Service
exercise period, not only with respect to the number of vested shares of Common
Stock for which such option is exercisable at the time of the Optionee’s cessation
of Service but also with respect to one or more additional installments in which the
Optionee would have vested had the Optionee continued in Service.

          D. Stockholder Rights. The holder of an option shall have no stockholder rights with
respect to the shares subject to the option until such person shall have exercised the option, paid
the exercise price and become a holder of record of the purchased shares.

          E. Repurchase Rights. The Plan Administrator shall have the discretion to grant
options which are exercisable for unvested shares of Common Stock. Should the Optionee cease
Service while such shares are unvested, the Corporation shall have the right to repurchase any or
all of those unvested shares at a price per share equal to the lower of (i) the exercise price paid
per share or (ii) the Fair Market Value per share of Common Stock at the time of repurchase. The
terms upon which such repurchase right shall be exercisable (including the period and procedure for
exercise and the appropriate vesting schedule for the purchased shares) shall be established by the
Plan Administrator and set forth in the document evidencing such repurchase right.

          F. Limited Transferability of Options. During the lifetime of the Optionee, options
shall be exercisable only by the Optionee and shall not be assignable or transferable other than by
will or by the laws of inheritance following the Optionee’s death. However, the Plan Administrator
may permit an assignment, in whole or in part, during the Optionee’s lifetime, of a Non-Statutory
Option, if such assignment is in connection with the Optionee’s estate plan and is to one or more
Family Members of the Optionee or to a trust established exclusively for the Optionee and/or one or
more such Family Members or is pursuant to a domestic relations order covering the option as
marital property. The assigned portion may only be exercised by the person or persons who acquire
a proprietary interest in the option pursuant to the assignment. The terms applicable to the
assigned portion shall be the same as those in effect for the option immediately prior to such
assignment and shall be set forth in such documents issued to the assignee as the Plan
Administrator may deem appropriate. Notwithstanding the foregoing, the Optionee may also designate
one or more persons as the beneficiary or beneficiaries of his or her outstanding options under
this Article Two, and the options shall, in

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accordance with such designation, automatically be transferred to such beneficiary or
beneficiaries upon the Optionee’s death while holding those options. Such beneficiary or
beneficiaries shall take the transferred options subject to all the terms and conditions of the
applicable agreement evidencing each such transferred option, including (without limitation) the
limited time period during which the option may be exercised following the Optionee’s death.

     II. INCENTIVE OPTIONS

          The terms specified below shall be applicable to all Incentive Options. Except as modified by
the provisions of this Section II, all the provisions of Articles One, Two and Five shall be
applicable to Incentive Options. Options which are specifically designated as Non-Statutory
Options when issued under the Plan shall not be subject to the terms of this Section II.

          A. Eligibility. Incentive Options may only be granted to Employees.

          B. Dollar Limitation. The aggregate Fair Market Value of the shares of Common Stock
(determined as of the respective date or dates of grant) for which one or more options granted to
any Employee under the Plan (or any other option plan of the Corporation or any Parent or
Subsidiary) may for the first time become exercisable as Incentive Options during any one calendar
year shall not exceed the sum of One Hundred Thousand Dollars ($100,000).

          To the extent the Employee holds two (2) or more such options which become exercisable for the
first time in the same calendar year, the foregoing limitation on the exercisability of such
options as Incentive Options shall be applied on the basis of the order in which such options are
granted.

          C. 10% Stockholder. If any Employee to whom an Incentive Option is granted is a 10%
Stockholder, then the exercise price per share shall not be less than one hundred ten percent
(110%) of the Fair Market Value per share of Common Stock on the option grant date, and the option
term shall not exceed five (5) years measured from the option grant date.

     III. STOCK APPRECIATION RIGHTS

          A. Authority. The Plan Administrator shall have full power and authority, exercisable
in its sole discretion, to grant stock appreciation rights in accordance with this Section III to
selected Optionees or other individuals eligible to receive option grants under the Discretionary
Grant Program.

          B. Types. Three types of stock appreciation rights shall be authorized for issuance
under this Section III: (i) tandem stock appreciation rights (“Tandem Rights”), (ii) stand-alone
stock appreciation rights (“Stand-alone Rights”) and (iii) limited stock appreciation rights
(“Limited Rights”).

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          C. Tandem Rights. The following terms and conditions shall govern the grant and
exercise of Tandem Rights.

               1. One or more Optionees may be granted a Tandem Right, exercisable upon such terms and
conditions as the Plan Administrator may establish, to elect between the exercise of the underlying
option for shares of Common Stock or the surrender of that option in exchange for a distribution
from the Corporation in an amount equal to the excess of (i) the Fair Market Value (on the option
surrender date) of the number of shares in which the Optionee is at the time vested under the
surrendered option (or surrendered portion thereof) over (ii) the aggregate exercise price payable
for such vested shares.

               2. No such option surrender shall be effective unless it is approved by the Plan
Administrator, either at the time of the actual option surrender or at any earlier time. If the
surrender is so approved, then the distribution to which the Optionee shall accordingly become
entitled under this Section III may be made in shares of Common Stock valued at Fair Market Value
on the option surrender date, in cash, or partly in shares and partly in cash, as the Plan
Administrator shall in its sole discretion deem appropriate.

               3. If the surrender of an option is not approved by the Plan Administrator, then the Optionee
shall retain whatever rights the Optionee had under the surrendered option (or surrendered portion
thereof) on the option surrender date and may exercise such rights at any time prior to the later
of (i) five (5) business days after the receipt of the rejection notice or (ii) the last day on
which the option is otherwise exercisable in accordance with the terms of the instrument evidencing
such option, but in no event may such rights be exercised more than ten (10) years after the date
of the option grant.

          D. Stand-Alone Rights. The following terms and conditions shall govern the grant and
exercise of Stand-alone Rights:

               1. One or more individuals eligible to participate in the Discretionary Grant Program may be
granted a Stand-alone Right not tied to any underlying option under this Discretionary Grant
Program. The Stand-alone Right shall relate to a specified number of shares of Common Stock and
shall be exercisable upon such terms and conditions as the Plan Administrator may establish. In no
event, however, may the Stand-alone Right have a maximum term in excess of ten (10) years measured
from the grant date. Upon exercise of the Stand-alone Right, the holder shall be entitled to
receive a distribution from the Corporation in an amount equal to the excess of (i) the aggregate
Fair Market Value (on the exercise date) of the shares of Common Stock underlying the exercised
right over (ii) the aggregate base price in effect for those shares.

               2. The number of shares of Common Stock underlying each Stand-alone Right and the base price
in effect for those shares shall be determined by the Plan Administrator in its sole discretion at
the time the Stand-alone Right is granted. In no event, however, may the base price per share be
less than the Fair Market Value per underlying share of Common Stock on the grant date. In the
event outstanding Stand-alone Rights are to be assumed

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in connection with a Change in Control transaction or otherwise continued in effect, the
shares of Common Stock underlying each such Stand-alone Right shall be adjusted immediately after
such Change in Control so as to apply to the number and class of securities into which those shares
of Common Stock would have been converted in consummation of such Change in Control had those
shares actually been outstanding at that time. Appropriate adjustments to reflect such Change in
Control shall also be made to the base price per share in effect under each outstanding Stand-alone
Right, provided the aggregate base price shall remain the same. To the extent the actual
holders of the Corporation’s outstanding Common Stock receive cash consideration for their Common
Stock in consummation of the Change in Control, the successor corporation may, in connection with
the assumption or continuation of the outstanding Stand-alone Rights under the Discretionary Grant
Program, substitute, for the securities underlying those assumed rights, one or more shares of its
own common stock with a fair market value equivalent to the cash consideration paid per share of
Common Stock in the Change in Control transaction.

               3. Stand-alone Rights shall be subject to the same transferability restrictions applicable to
Non-Statutory Options and may not be transferred during the holder’s lifetime, except if such
assignment is in connection with the holder’s estate plan and is to one or more Family Members of
the holder or to a trust established for the holder and/or one or more such Family Members or
pursuant to a domestic relations order covering the Stand-alone Right as marital property. In
addition, one or more beneficiaries may be designated for an outstanding Stand-alone Right in
accordance with substantially the same terms and provisions as set forth in Section I.F of this
Article Two.

               4. The distribution with respect to an exercised Stand-alone Right may be made in shares of
Common Stock valued at Fair Market Value on the exercise date, in cash, or partly in shares and
partly in cash, as the Plan Administrator shall in its sole discretion deem appropriate.

               5. The holder of a Stand-alone Right shall have no stockholder rights with respect to the
shares subject to the Stand-alone Right unless and until such person shall have exercised the
Stand-alone Right and become a holder of record of the shares of Common Stock issued upon the
exercise of such Stand-alone Right.

          E. Limited Rights. The following terms and conditions shall govern the grant and
exercise of Limited Rights:

               1. One or more Section 16 Insiders may, in the Plan Administrator’s sole discretion, be
granted Limited Rights with respect to their outstanding options under this Article Two.

               2. Upon the occurrence of a Hostile Tender-Offer, the Section 16 Insider shall have the
unconditional right (exercisable for a thirty (30)-day period following such Hostile Tender-Offer)
to surrender each option with such a Limited Right to the Corporation. The Section 16 Insider
shall in return be entitled to a cash distribution from the Corporation in an amount equal to the
excess of (i) the Tender-Offer Price of the number of shares in which the

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Optionee is at the time vested under the surrendered option (or surrendered portion thereof)
over (ii) the aggregate exercise price payable for those vested shares. Such cash distribution
shall be made within five (5) days following the option surrender date.

               3. The Plan Administrator shall pre-approve, at the time such Limited Right is granted, the
subsequent exercise of that right in accordance with the terms of the grant and the provisions of
this Section III. No additional approval of the Plan Administrator or the Board shall be required
at the time of the actual option surrender and cash distribution. Any unsurrendered portion of the
option shall continue to remain outstanding and become exercisable in accordance with the terms of
the instrument evidencing such grant.

          F. Post-Service Exercise. The provisions governing the exercise of Tandem,
Stand-alone and Limited Stock Appreciation Rights following the cessation of the recipient’s
Service shall be substantially the same as those set forth in Section I.C of this Article Two for
the options granted under the Discretionary Grant Program.

          G. Net Counting. Upon the exercise of any Tandem, Stand-alone or Limited Right under
this Section III, the share reserve under Section V of Article One shall only be reduced by the net
number of shares actually issued by the Corporation upon such exercise, and not by the gross number
of shares as to which such Tandem, Stand-alone or Limited Right is exercised. Accordingly, upon the
exercise of any such stock appreciation right, the number of shares available for issuance under
the Plan shall increase by the amount by which the shares subject to that exercised stock
appreciation right exceeds the number of shares actually issued in connection with the exercise.

     IV. CHANGE IN CONTROL/HOSTILE TAKE-OVER

          A. In the event of a Change in Control, each outstanding option or stock appreciation right
under the Discretionary Grant Program shall automatically accelerate so that each such option or
stock appreciation right shall, immediately prior to the effective date of that Change in Control,
become exercisable as to all the shares of Common Stock at the time subject to such option or stock
appreciation right and may be exercised as to any or all of those shares as fully vested shares of
Common Stock. However, except as otherwise provided in Section IV.B of this Article Two, an
outstanding option or stock appreciation right shall not become exercisable on such an accelerated
basis if and to the extent: (i) such option or stock appreciation right is to be assumed by the
successor corporation (or parent thereof) or is otherwise to continue in full force and effect
pursuant to the terms of the Change in Control transaction or (ii) such option or stock
appreciation right is to be replaced with a cash incentive program of the successor corporation
which preserves the spread existing at the time of the Change in Control on any shares as to which
the option or stock appreciation right is not otherwise at that time exercisable and provides for
subsequent payout of that spread in accordance with the same exercise/vesting schedule applicable
to those shares or (iii) the acceleration of such option or stock appreciation right is subject to
other limitations imposed by the Plan Administrator at the time of the grant.

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          B. Notwithstanding Section IV.A of this Article Two, the following special vesting
acceleration provisions shall be in effect for all options and stock appreciation rights granted
under the Discretionary Grant Program:

               (i) Each outstanding option or stock appreciation right under this
Discretionary Grant Program which is at the time held by a then current Employee
shall, immediately prior to the effective date of a Change in Control, automatically
vest and become exercisable as to fifty percent (50%) of the total number of
unvested shares of Common Stock at the time subject to such outstanding option or
stock appreciation right, and each such option or stock appreciation right may
accordingly be exercised as to any or all of those accelerated shares as fully
vested shares of Common Stock.

               (ii) Should an Executive’s Service terminate by reason of an Involuntary
Termination within thirteen (13) months following a Change in Control, then each
outstanding option or stock appreciation right under this Discretionary Grant
Program held by that Executive shall immediately vest and become exercisable as to
all the securities at the time subject to such outstanding option or stock
appreciation right, and each such option or stock appreciation right may be
exercised as to any or all of those securities as fully-vested shares.

               (iii) Each outstanding option or stock appreciation right under this
Discretionary Grant Program which is at the time held by a then current non-employee
Board member shall, immediately prior to the effective date of a Change in Control,
automatically vest and become exercisable as to all the unvested shares of Common
Stock at the time subject to such outstanding option or stock appreciation right,
and each such option or stock appreciation right may accordingly be exercised for
any or all of those shares as fully vested shares of Common Stock.

          C. All outstanding repurchase rights under the Discretionary Grant Program shall automatically
terminate, and the shares of Common Stock subject to those terminated rights shall immediately vest
in full, in the event of a Change in Control, except to the extent: (i) those repurchase rights are
to be assigned to the successor corporation (or parent thereof) or are otherwise to continue in
full force and effect pursuant to the terms of the Change in Control transaction or (ii) such
accelerated vesting is precluded by other limitations imposed by the Plan Administrator at the time
the repurchase right is issued.

          D. Immediately following the consummation of the Change in Control, all outstanding options or
stock appreciation rights under the Discretionary Grant Program shall terminate and cease to be
outstanding, except to the extent assumed by the successor corporation (or parent thereof) or
otherwise continued in full force and effect pursuant to the terms of the Change in Control
transaction.

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          E. Each option which is assumed in connection with a Change in Control or otherwise continued
in effect shall be appropriately adjusted, immediately after such Change in Control, to apply to
the number and class of securities which would have been issuable to the Optionee in consummation
of such Change in Control had the option been exercised immediately prior to such Change in
Control. Appropriate adjustments to reflect such Change in Control shall also be made to (i) the
exercise price payable per share under each outstanding option, provided the aggregate
exercise price payable for such securities shall remain the same, (ii) the maximum number and/or
class of securities available for issuance over the remaining term of the Plan and (iii) the
maximum number and/or class of securities for which any one person may be granted stock options,
stand-alone stock appreciation rights, direct stock issuances and other stock-based awards under
the Plan per calendar year and (iv) the maximum number and/or class of securities by which the
share reserve is to increase automatically each calendar year. To the extent the actual holders of
the Corporation’s outstanding Common Stock receive cash consideration for their Common Stock in
consummation of the Change in Control, the successor corporation may, in connection with the
assumption or continuation of the outstanding options under the Discretionary Grant Program,
substitute one or more shares of its own common stock with a fair market value equivalent to the
cash consideration paid per share of Common Stock in such Change in Control transaction.

          F. The Plan Administrator shall have the discretionary authority to structure one or more
outstanding options or stock appreciation rights under the Discretionary Grant Program so that
those options or stock appreciation rights shall, immediately prior to the effective date of a
Change in Control, become exercisable as to all the shares of Common Stock at the time subject to
those options or stock appreciation rights and may be exercised as to any or all of those shares as
fully vested shares of Common Stock, whether or not those options or stock appreciation rights are
to be assumed in the Change in Control transaction or otherwise continued in effect. In addition,
the Plan Administrator shall have the discretionary authority to structure one or more of the
Corporation’s repurchase rights under the Discretionary Grant Program so that those rights shall
immediately terminate upon the consummation of the Change in Control transaction, and the shares
subject to those terminated rights shall thereupon vest in full.

          G. The Plan Administrator shall have full power and authority to structure one or more
outstanding options or stock appreciation rights under the Discretionary Grant Program so that
those options or stock appreciation rights shall become exercisable as to all the shares of Common
Stock at the time subject to those options or stock appreciation rights in the event the Optionee’s
Service is subsequently terminated by reason of an Involuntary Termination within a designated
period following the effective date of any Change in Control transaction in which those options or
stock appreciation rights do not otherwise fully accelerate. In addition, the Plan Administrator
may structure one or more of the Corporation’s repurchase rights so that those rights shall
immediately terminate with respect to any shares held by the Optionee at the time of such
Involuntary Termination, and the shares subject to those terminated repurchase rights shall
accordingly vest in full at that time.

14

 

          H. The Plan Administrator shall have the discretionary authority to structure one or more
outstanding options or stock appreciation rights under the Discretionary Grant Program so that
those options or stock appreciation rights shall, immediately prior to the effective date of a
Hostile Take-Over, become exercisable as to all the shares of Common Stock at the time subject to
those options or stock appreciation rights and may be exercised as to any or all of those shares as
fully vested shares of Common Stock. In addition, the Plan Administrator shall have the
discretionary authority to structure one or more of the Corporation’s repurchase rights under the
Discretionary Grant Program so that those rights shall terminate automatically upon the
consummation of such Hostile Take-Over, and the shares subject to those terminated rights shall
thereupon vest in full. Alternatively, the Plan Administrator may condition the automatic
acceleration of one or more outstanding options or stock appreciation rights under the
Discretionary Grant Program and the termination of one or more of the Corporation’s outstanding
repurchase rights under such program upon the subsequent termination of the Optionee’s Service by
reason of an Involuntary Termination within a designated period following the effective date of
such Hostile Take-Over.

          I. The portion of any Incentive Option accelerated in connection with a Change in Control or
Hostile Take-Over shall remain exercisable as an Incentive Option only to the extent the applicable
One Hundred Thousand Dollar ($100,000) limitation is not exceeded. To the extent such dollar
limitation is exceeded, the accelerated portion of such option shall be exercisable as a
Non-statutory Option under the Federal tax laws.

     V. EXCHANGE/REPRICING PROGRAMS

          A. The Plan Administrator shall have the authority to effect, at any time and from time to
time, with the consent of the affected holders but without any requirement for stockholder
approval, the cancellation of any or all outstanding options or stock appreciation right under the
Discretionary Grant Program (including outstanding options transferred from the Predecessor Plan)
and to grant in exchange one or more of the following: (i) new options or stock appreciation rights
covering the same or a different number of shares of Common Stock but with an exercise or base
price per share not less than the Fair Market Value per share of Common Stock on the new grant date
or (ii) cash or shares of Common Stock, whether vested or unvested, equal in value to the value of
the cancelled options or stock appreciation rights.

          B. The Plan Administrator shall also have the authority, exercisable at any time and from time
to time, with the consent of the affected holders but without any requirement for stockholder
approval, to reduce the exercise or base price of one or more outstanding options or stock
appreciation rights to the then current Fair Market Value per share of Common Stock or issue new
options or stock appreciation rights with a lower exercise or base price in immediate cancellation
of outstanding options or stock appreciation rights with a higher exercise or base price.

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ARTICLE THREE

STOCK ISSUANCE PROGRAM

     I. STOCK ISSUANCE TERMS

          Shares of Common Stock may be issued under the Stock Issuance Program, either as vested or
unvested shares, through direct and immediate issuances without any intervening option grants.
Each such stock issuance shall be evidenced by a Stock Issuance Agreement which complies with the
terms specified below. Shares of Common Stock may also be issued under the Stock Issuance Program
pursuant to share right awards or restricted stock units which entitle the recipients to receive
the shares underlying those awards or units upon the attainment of designated performance goals or
the satisfaction of specified Service requirements or upon the expiration of a designated time
period following the vesting of those awards or units.

          A. Issue Price.

               1. The issue price per share shall be fixed by the Plan Administrator, but shall not be less
than one hundred percent (100%) of the Fair Market Value per share of Common Stock on the issuance
date.

               2. Shares of Common Stock may be issued under the Stock Issuance Program for any of the
following items of consideration which the Plan Administrator may deem appropriate in each
individual instance:

               (i) cash or check made payable to the Corporation,

               (ii) past services rendered to the Corporation (or any Parent or Subsidiary);
or

               (iii) any other valid consideration under the Delaware General Corporation Law.

          B. Vesting Provisions.

               1. Shares of Common Stock issued under the Stock Issuance Program may, in the discretion of
the Plan Administrator, be fully and immediately vested upon issuance or may vest in one or more
installments over the Participant’s period of Service or upon the attainment of specified
performance objectives. The elements of the vesting schedule applicable to any unvested shares of
Common Stock issued under the Stock Issuance Program shall be determined by the Plan Administrator
and incorporated into the Stock Issuance Agreement. Shares of Common Stock may also be issued
under the Stock Issuance Program pursuant to share right awards or restricted stock units which
entitle the recipients to receive the shares

16

 

underlying those awards or units upon the attainment of designated performance goals or the
satisfaction of specified Service requirements or upon the expiration of a designated time period
following the vesting of those awards or units, including (without limitation) a deferred
distribution date following the termination of the Participant’s Service.

               2. The Plan Administrator shall also have the discretionary authority, consistent with Code
Section 162(m), to structure one or more stock issuances or restricted stock unit or share right
awards so that the shares of Common Stock subject to those issuances or awards shall vest (or vest
and become issuable) upon the achievement of certain pre-established corporate performance goals
based on one or more of the following criteria: (1) return on total stockholder equity; (2)
earnings per share of Common Stock; (3) net income (before or after taxes); (4) earnings before
interest, taxes, depreciation and amortization; (5) sales or revenue targets; (6) return on assets,
capital or investment; (7) cash flow: (8) market share; (9) cost reduction goals; (10) budget
comparisons; (1 1) measures of customer satisfaction; (12) any combination of, or a specified
increase in, any of the foregoing; (13) implementation or completion of projects or processes
strategic or critical to the Corporation’s business operations; (14) achievement of advances in
research; new product development; development of products to pre-clinical phase; commencement,
advancement or completion of clinical trials for a product; FDA or other regulatory body approval
for commercialization of products; and (15) the formation of joint ventures, research or
development collaborations, or the completion of other corporate transactions intended to enhance
the Corporation’s revenue or profitability or expand its customer base. In addition, such
performance goals may be based upon the attainment of specified levels of the Corporation’s
performance under one or more of the measures described above relative to the performance of other
entities and may also be based on the performance of any of the Corporation’s business units or
divisions or any Parent or Subsidiary. Performance goals may include a minimum threshold level of
performance below which no award will be earned, levels of performance at which specified portions
of an award will be earned and a maximum level of performance at which an award will be fully
earned.

               3. Any new, substituted or additional securities or other property (including money paid other
than as a regular cash dividend) which the Participant may have the right to receive with respect
to the Participant’s unvested shares of Common Stock by reason of any stock dividend, stock split,
recapitalization, combination of shares, exchange of shares or other change affecting the
outstanding Common Stock as a class without the Corporation’s receipt of consideration shall be
issued subject to (i) the same vesting requirements applicable to the Participant’s unvested shares
of Common Stock and (ii) such escrow arrangements as the Plan Administrator shall deem appropriate.

               4. The Participant shall have full stockholder rights with respect to any shares of Common
Stock issued to the Participant under the Stock Issuance Program, whether or not the Participant’s
interest in those shares is vested. Accordingly, the Participant shall have the right to vote such
shares and to receive any regular cash dividends paid on such shares. The Participant shall not
have any stockholder rights with respect to the shares of Common Stock subject to a restricted
stock unit or share right award until that award vests and

17

 

the shares of Common Stock are actually issued thereunder. However, dividend-equivalent units
may be paid or credited, either in cash or in actual or phantom shares of Common Stock, on
outstanding restricted stock unit or share right awards, subject to such terms and conditions as
the Plan Administrator may deem appropriate.

               5. Should the Participant cease to remain in Service while holding one or more unvested shares
of Common Stock issued under the Stock Issuance Program or should the performance objectives not be
attained with respect to one or more such unvested shares of Common Stock, then those shares shall
be immediately surrendered to the Corporation for cancellation, and the Participant shall have no
further stockholder rights with respect to those shares. To the extent the surrendered shares were
previously issued to the Participant for consideration paid in cash or cash equivalent, the
Corporation shall repay to the Participant the lower of (i) the cash consideration paid for the
surrendered shares or (ii) the Fair Market Value of those shares at the time of cancellation.

               6. The Plan Administrator may in its discretion waive the surrender and cancellation of one or
more unvested shares of Common Stock which would otherwise occur upon the cessation of the
Participant’s Service or the non-attainment of the performance objectives applicable to those
shares. Any such waiver shall result in the immediate vesting of the Participant’s interest in the
shares of Common Stock as to which the waiver applies. Such waiver may be effected at any time,
whether before or after the Participant’s cessation of Service or the attainment or non-attainment
of the applicable performance objectives. However, no vesting requirements tied to the attainment
of performance objectives may be waived with respect to shares which were intended at the time of
issuance to qualify as performance-based compensation under Code Section 162(m).

               7. Outstanding share right awards or restricted stock units under the Stock Issuance Program
shall automatically terminate, and no shares of Common Stock shall actually be issued in
satisfaction of those awards or units, if the performance goals or Service requirements established
for such awards or units are not attained or satisfied. The Plan Administrator, however, shall
have the discretionary authority to issue vested shares of Common Stock under one or more
outstanding share right awards or restricted stock units as to which the designated performance
goals or Service requirements have not been attained or satisfied. However, no vesting
requirements tied to the attainment of performance goals may be waived with respect to awards or
units which were intended, at the time those awards or units were granted, to qualify as
performance-based compensation under Code Section 162(m).

     II. CHANGE IN CONTROL/HOSTILE TAKE-OVER

          A. All of the Corporation’s outstanding repurchase rights under the Stock Issuance Program
shall terminate automatically, and all the shares of Common Stock subject to those terminated
rights shall immediately vest in full, in the event of any Change in Control, except to the extent
(i) those repurchase rights are to be assigned to the successor corporation (or parent thereof) or
are otherwise to continue in full force and effect pursuant to the terms of the

18

 

Change in Control transaction or (ii) such accelerated vesting is precluded by other
limitations imposed in the Stock Issuance Agreement.

          B. Each outstanding restricted stock unit or share right award assumed in connection with a
Change in Control or otherwise continued in effect shall be adjusted immediately after the
consummation of that Change in Control so as to apply to the number and class of securities into
which the shares of Common Stock subject to the award immediately prior to the Change in Control
would have been converted in consummation of such Change in Control had those shares actually been
outstanding at that time.

          C. The Plan Administrator shall have the discretionary authority to structure one or more
unvested stock issuances or one or more restricted stock unit or other share right awards under the
Stock Issuance Program so that the shares of Common Stock subject to those issuances or awards
shall automatically vest (or vest and become issuable) in whole or in part immediately upon the
occurrence of a Change in Control or upon the subsequent termination of the Participant’s Service
by reason of an Involuntary Termination within a designated period following the effective date of
that Change in Control transaction.

          D. The Plan Administrator shall also have the discretionary authority to structure one or more
unvested stock issuances or one or more restricted stock unit or other share right awards under the
Stock Issuance Program so that the shares of Common Stock subject to those issuances or awards
shall automatically vest (or vest and become issuable) in whole or in part immediately upon the
occurrence of a Hostile Take-Over or upon the subsequent termination of the Participant’s Service
by reason of an Involuntary Termination within a designated period following the effective date of
that Hostile Take-Over.

          E. The Plan Administrator’s authority under Paragraphs C and D of this Section II shall also
extend to any stock issuances, restricted stock units or other share right awards intended to
qualify as performance-based compensation under Code Section 162(m), even though the automatic
vesting of those issuances, units or awards pursuant to Paragraph C or D of this Section II may
result in their loss of performance-based status under Code Section 162(m).

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ARTICLE FOUR

AUTOMATIC OPTION GRANT PROGRAM

     I. OPTION TERMS

          A. Automatic Grants. Option grants shall be made pursuant to the Automatic Option
Grant Program in effect under this Plan as follows:

               Initial Grant: Each individual who is first elected or appointed as a non-employee Board
member at any time on or after the Plan Effective Date shall automatically be granted, on the date
of such initial election or appointment, a Non-Statutory Option to purchase twenty-five thousand
(25,000) shares of Common Stock, provided that individual has not previously been in the employ of
the Corporation or any Parent or Subsidiary.

               Annual Grants:

               1. On February 13, 2006, each individual serving as a non-employee Board member on such date
shall receive an automatic option grant for twelve thousand five hundred (12,500) shares of Common
Stock.

               2. On the first trading day in January each year, beginning with the 2007 calendar year, each
individual serving as a non-employee Board member on such grant date shall receive an automatic
option grant for twelve thousand five hundred (12,500) shares of Common Stock.

               3. There shall be no limit on the number of such annual twelve thousand five hundred
(12,500)-share option grants any one continuing non-employee Board member may receive over his over
period of Board or Board committee service, and non-employee Board members who have previously been
in the employ of the Corporation (or any Parent or Subsidiary) or who have otherwise received one
or more stock option grants from the Corporation prior to the Plan Effective Date shall be eligible
to receive one or more such annual option grants over their period of continued Board service.

          B. Exercise Price.

               1. The exercise price per share shall be equal to one hundred percent (100%) of the Fair
Market Value per share of Common Stock on the option grant date.

               2. The exercise price shall be payable in one or more of the alternative forms authorized
under the Discretionary Grant Program. Except to the extent the sale and remittance procedure
specified thereunder is utilized, payment of the exercise price for the purchased shares must be
made on the Exercise Date.

20

 

          C. Option Term. Each option shall have a maximum term of ten (10) years measured from
the option grant date, subject to earlier termination following the Optionee’s cessation of Board
service.

          D. Exercise and Vesting of Options. Each option shall be immediately exercisable for
any or all of the option shares. However, any unvested shares purchased under the option shall be
subject to repurchase by the Corporation, at the lower of (i) the exercise price paid per share or
(ii) the Fair Market Value per share of Common Stock at the time of repurchase, upon the Optionee’s
cessation of Board service prior to vesting in those shares. The shares subject to each initial
25,000-share grant shall vest, and the Corporation’s repurchase right shall lapse, in a series of
thirty-six (36) successive equal monthly installments upon the Optionee’s completion of each month
of service as a Board member over the three (3)-year period measured from the option grant date.
The shares subject to each annual option grant made to a non-employee Board member for his or her
continued Board or Board committee service shall vest, and the Corporation’s repurchase right shall
lapse, in one installment upon the Optionee’s completion of one (1) year of Board service measured
from the grant date.

          E. Limited Transferability of Options. Each option under this Article Four may be
assigned in whole or in part during the Optionee’s lifetime to one or more of his or her Family
Members or to a trust established exclusively for the Optionee and/or one or more such Family
Members, to the extent such assignment is in connection with the Optionee’s estate plan or pursuant
to a domestic relations order. The assigned portion may only be exercised by the person or persons
who acquire a proprietary interest in the option pursuant to the assignment. The terms applicable
to the assigned portion shall be the same as those in effect for the option immediately prior to
such assignment and shall be set forth in such documents issued to the assignee as the Plan
Administrator may deem appropriate. The Optionee may also designate one or more persons as the
beneficiary or beneficiaries of his or her outstanding options under this Article Four, and the
options shall, in accordance with such designation, automatically be transferred to such
beneficiary or beneficiaries upon the Optionee’s death while holding those options. Such
beneficiary or beneficiaries shall take the transferred options subject to all the terms and
conditions of the applicable agreement evidencing each such transferred option, including (without
limitation) the limited time period during which the option may be exercised following the
Optionee’s death.

          F. Termination of Board Service. The following provisions shall govern the exercise
of any options held by the Optionee at the time the Optionee ceases to serve as a Board member:

               (i) The Optionee (or, in the event of Optionee’s death while holding the
option, the personal representative of the Optionee’s estate or the person or
persons to whom the option is transferred pursuant to the Optionee’s will or the
laws of inheritance or the designated beneficiary or beneficiaries of such option)
shall have a twelve (12)-month period following the date of such cessation of Board
service in which to exercise such option. However, should the

21

 

Optionee cease Board service by reason of Retirement, Permanent Disability or
death, the option will remain exercisable for the balance of the option term.

               (ii) During the applicable post-Board service exercise period, the option may
not be exercised in the aggregate for more than the number of vested shares of
Common Stock for which the option is exercisable at the time of the Optionee’s
cessation of Board service.

               (iii) Should the Optionee cease to serve as a Board member by reason of death
or Permanent Disability, then all shares at the time subject to the option shall
immediately vest so that such option may, during the remainder of the option term,
be exercised for any or all of those shares as fully vested shares of Common Stock.

               (iv) In no event shall the option remain exercisable after the expiration of
the option term. Upon the expiration of the applicable post-Board service exercise
period or (if earlier) upon the expiration of the option term, the option shall
terminate and cease to be outstanding for any vested shares for which the option has
not been exercised. However, the option shall, immediately upon the Optionee’s
cessation of Board service for any reason other than death or Permanent Disability,
terminate and cease to be outstanding to the extent the option is not otherwise at
that time exercisable for vested shares.

     II. CHANGE IN CONTROL/HOSTILE TAKE-OVER/HOSTILE TENDER-OFFER

          A. In the event of a Change in Control while the Optionee remains a Board member, the shares
of Common Stock at the time subject to each outstanding option held by such Optionee under this
Automatic Option Grant Program but not otherwise vested shall automatically vest in full so that
each such option shall, immediately prior to the effective date of the Change in Control, become
exercisable for all the option shares as fully vested shares of Common Stock and may be exercised
for any or all of those vested shares. Immediately following the consummation of the Change in
Control, each automatic option grant shall terminate and cease to be outstanding, except to the
extent assumed by the successor corporation (or parent thereof) or otherwise continued in effect
pursuant to the terms of the Change in Control transaction.

          B. In the event of a Hostile Take-Over while the Optionee remains a Board member, the shares
of Common Stock at the time subject to each outstanding option held by such Optionee under this
Automatic Option Grant Program but not otherwise vested shall automatically vest in full so that
each such option shall, immediately prior to the effective date of the Hostile Take-Over, become
exercisable for all the option shares as fully vested shares of Common Stock and may be exercised
for any or all of those vested shares. Each such option shall remain exercisable for such fully
vested option shares until the expiration or sooner

22

 

termination of the option term or the surrender of the option in connection with a Hostile
Tender-Offer.

          C. All outstanding repurchase rights under this under this Automatic Option Grant Program
shall automatically terminate, and the shares of Common Stock subject to those terminated rights
shall immediately vest in full, in the event of any Change in Control or Hostile Take-Over.

          D. Upon the occurrence of a Hostile Tender-Offer while the Optionee remains a Board member,
such Optionee shall have a thirty (30)-day period in which to surrender to the Corporation each of
his or her outstanding options under this Automatic Option Grant Program. The Optionee shall in
return be entitled to a cash distribution from the Corporation in an amount equal to the excess of
(i) the Tender-Offer Price of the shares of Common Stock at the time subject to each surrendered
option (whether or not the Optionee is otherwise at the time vested in those shares) over (ii) the
aggregate exercise price payable for such shares. Such cash distribution shall be paid within five
(5) days following the surrender of the option to the Corporation. No approval or consent of the
Board or any Plan Administrator shall be required at the time of the actual option surrender and
cash distribution.

          E. Each option which is assumed in connection with a Change in Control or otherwise continued
in effect shall be appropriately adjusted, immediately after such Change in Control, to apply to
the number and class of securities which would have been issuable to the Optionee in consummation
of such Change in Control had the option been exercised immediately prior to such Change in
Control. Appropriate adjustments shall also be made to the exercise price payable per share under
each outstanding option, provided the aggregate exercise price payable for such securities
shall remain the same. To the extent the actual holders of the Corporation’s outstanding Common
Stock receive cash consideration for their Common Stock in consummation of the Change in Control,
the successor corporation may, in connection with the assumption of the outstanding options under
the Automatic Option Grant Program, substitute one or more shares of its own common stock with a
fair market value equivalent to the cash consideration paid per share of Common Stock in such
Change in Control transaction.

     III. REMAINING TERMS

          The remaining terms of each option granted under the Automatic Option Grant Program shall be
the same as the terms in effect for option grants made under the Discretionary Grant Program.

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ARTICLE FIVE

MISCELLANEOUS

     I. TAX WITHHOLDING

          A. The Corporation’s obligation to deliver shares of Common Stock upon the exercise of options
or stock appreciation rights or the issuance or vesting of such shares under the Plan shall be
subject to the satisfaction of all applicable income and employment tax withholding requirements.

          B. The Plan Administrator may, in its discretion, provide any or all holders of Non-Statutory
Options (other than the options granted under the Automatic Option Grant Program), stock
appreciation rights, restricted stock units or any other share right awards pursuant to which
vested shares of Common Stock are to be issued under the Plan and any or all Participants to whom
vested or unvested shares of Common Stock are issued in a direct issuance under the Stock Issuance
Program with the right to use shares of Common Stock in satisfaction of all or part of the
Withholding Taxes to which such holders may become subject in connection with the exercise of their
options or stock appreciation rights, the issuance to them of vested shares or the subsequent
vesting of unvested shares issued to them. Such right may be provided to any such holder in either
or both of the following formats:

               Stock Withholding: The election to have the Corporation withhold, from the shares of
Common Stock otherwise issuable upon the exercise of such Non-Statutory Option or stock
appreciation right or upon the issuance of fully-vested shares, a portion of those shares with an
aggregate Fair Market Value equal to the percentage of the Withholding Taxes (not to exceed one
hundred percent (100%)) designated by the holder. The shares of Common Stock so withheld shall not
reduce the number of shares of Common Stock authorized for issuance under the Plan.

               Stock Delivery: The election to deliver to the Corporation, at the time the
Non-Statutory Option or stock appreciation right is exercised, the vested shares are issued or the
unvested shares subsequently vest, one or more shares of Common Stock previously acquired by such
holder (other than in connection with the exercise, share issuance or share vesting triggering the
Withholding Taxes) with an aggregate Fair Market Value equal to the percentage of the Withholding
Taxes (not to exceed one hundred percent (100%)) designated by the holder. The shares of Common
Stock so delivered shall not be added to the shares of Common Stock authorized for issuance under
the Plan.

     II. ASSUMPTION OR SUBSTITUTION OF OPTIONS

          A. The shares of Common Stock reserved for issuance under the Plan may, in the sole discretion
of the Plan Administrator, be used to fund one or more shares of Common Stock issuable upon the
exercise of (i) any Code Section 422 incentive stock option originally

24

 

granted by a corporation or other entity acquired by the Corporation (or any Parent or
Subsidiary), whether by merger or asset or stock sale, and assumed by the Corporation in connection
with that acquisition or (ii) any Incentive Option granted under this Plan in substitution for such
incentive stock option of the acquired entity. Any such assumption or substitution of options
shall not be deemed to contravene the option exercise price requirements of Section I.A of Article
Two, even if the exercise price per share of Common Stock under the assumed or substituted option
is less than one hundred percent (100%) of the Fair Market Value per share of Common Stock on the
date such assumption or substitution is effected, provided all of the following requirements are
satisfied:

               (i) The excess of the aggregate Fair Market Value of the shares of Common Stock
subject to the assumed or substituted option immediately after the assumption or
substitution over the aggregate exercise price in effect for those shares is not
greater than the excess of the aggregate fair market value of the shares of stock
subject to the option immediately prior to such assumption or substitution over the
aggregate exercise price payable for those shares.

               (ii) The ratio of the exercise price to the Fair Market Value per share of
Common Stock subject to the assumed or substituted option immediately after such
assumption or substitution is no more favorable to the Optionee than the ratio of
the exercise price to the fair market value per share immediately prior to such
assumption or substitution.

               (iii) The assumed or substituted option does not provide the Optionee with any
additional benefits the Optionee did not otherwise have under the option immediately
prior to the assumption or substitution.

               (iv) In the case of a substitution, the option granted by the acquired entity
must be cancelled at the time of such substitution, and the Optionee must have no
further rights under that cancelled option.

     III. SHARE ESCROW/LEGENDS

          Unvested shares may, in the Plan Administrator’s discretion, be held in escrow by the
Corporation until the Participant’s interest in such shares vests or may be issued directly to the
Participant with restrictive legends on the certificates evidencing those unvested shares.

     IV. EFFECTIVE DATE AND TERM OF THE PLAN

          A. The Plan became effective on the Plan Effective Date, and was approved by the stockholders
at the 2004 Annual Meeting.

          B. The Plan shall serve as the successor to the Predecessor Plan, and no further option grants
or stock issuances shall be made under the Predecessor Plan following the

25

 

2004 Annual Meeting. All options outstanding under the Predecessor Plan at the time of the
2004 Annual Meeting were transferred to the Plan and shall be treated as outstanding options under
the Plan. However, each outstanding option so transferred shall continue to be governed solely by
the terms of the documents evidencing such option, and no provision of the Plan shall be deemed to
affect or otherwise modify the rights or obligations of the holders of such transferred options
with respect to their acquisition of shares of Common Stock.

          C. The Plan was amended and restated effective February 10, 2006 to effect the following
changes to the Automatic Option Grant Program: (i) increase the number of shares of common stock
subject to each annual option grant under the Automatic Option Grant Program from 10,000 shares to
12,500 shares, and for the 2006 year only, change the grant date of such annual option grant and
(ii) eliminate option grants awarded to Board members who serve as members of a Board committee.
In addition, effective February 10, 2006, Plan was amended and restated to (i) amend the definition
of Fair Market Value and (ii) establish the Board as the Plan Administrator.

          D. One or more provisions of the Plan, including (without limitation) the option/vesting
acceleration provisions of Article Two relating to Changes in Control and Hostile Take-Overs, may,
in the Plan Administrator’s discretion, be extended to one or more options incorporated from the
Predecessor Plan which do not otherwise contain such provisions.

          E. The Plan shall terminate upon the earliest to occur of (i) March 1, 2014, (ii) the
date on which all shares available for issuance under the Plan shall have been issued as fully
vested shares or (iii) the termination of all outstanding options, stock appreciation rights,
restricted stock units and other share right awards in connection with a Change in Control. Should
the Plan terminate on March 1, 2014, then all option grants, stock appreciation rights, unvested
stock issuances, restricted stock units and other share right awards outstanding at that time shall
continue to have force and effect in accordance with the provisions of the documents evidencing
such grants, issuances or awards.

     V. AMENDMENT OF THE PLAN

          A. The Board shall have complete and exclusive power and authority to amend or modify the Plan
in any or all respects. However, no such amendment or modification shall adversely affect the
rights and obligations with respect to stock options, stock appreciation rights, unvested stock
issuances or other stock-based awards at the time outstanding under the Plan unless the Optionee or
the Participant consents to such amendment or modification. In addition, amendments to the Plan
will be subject to stockholder approval to the extent required under applicable law or regulation
or pursuant to the listing standards of the stock exchange (or the Nasdaq National Market) on which
the Common Stock is at the time primarily traded.

          B. Options and stock appreciation rights may be granted under the Discretionary Grant Program
and stock-based awards may be made under the Stock Issuance Program that in each instance involve
shares of Common Stock in excess of the number of shares then available for issuance under the
Plan, provided no shares shall actually be issued pursuant to

26

 

those grants or awards until the number of shares of Common Stock available for issuance under
the Plan is sufficiently increased either by (1) the automatic annual share increase provisions of
Section V.B. of Article One or (2) the stockholder approval of an amendment of the Plan
sufficiently increasing the share reserve. If stockholder approval is required and is not obtained
within twelve (12) months after the date the first excess grant or award made against such
contingent increase, then any options, stock appreciation rights or other stock-based awards
granted on the basis of such excess shares shall terminate and cease to be outstanding.

     VI. USE OF PROCEEDS

          Any cash proceeds received by the Corporation from the sale of shares of Common Stock under
the Plan shall be used for general corporate purposes.

     VII. REGULATORY APPROVALS

          A. The implementation of the Plan, the granting of any stock option, stock appreciation right
or other stock-based award under the Plan and the issuance of any shares of Common Stock (i) upon
the exercise or vesting of any granted option, stock appreciation right or other stock-based award
or (ii) under the Stock Issuance Program shall be subject to the Corporation’s procurement of all
approvals and permits required by regulatory authorities having jurisdiction over the Plan, the
stock options granted under it and the shares of Common Stock issued pursuant to it.

          B. No shares of Common Stock or other assets shall be issued or delivered under the Plan
unless and until there shall have been compliance with all applicable requirements of applicable
securities laws, including the filing and effectiveness of the Form S-8 registration statement for
the shares of Common Stock issuable under the Plan, and all applicable listing requirements of any
Stock Exchange (or the Nasdaq National Market, if applicable) on which Common Stock is then listed
for trading.

     VIII. NO EMPLOYMENT/SERVICE RIGHTS

          Nothing in the Plan shall confer upon the Optionee or the Participant any right to continue in
Service for any period of specific duration or interfere with or otherwise restrict in any way the
rights of the Corporation (or any Parent or Subsidiary employing or retaining such person) or of
the Optionee or the Participant, which rights are hereby expressly reserved by each, to terminate
such person’s Service at any time for any reason, with or without cause.

27

 

APPENDIX 

          The following definitions shall be in effect under the Plan:

          A. Automatic Option Grant Program shall mean the automatic option grant program in
effect under Article Four of the Plan.

          B. Board shall mean the Corporation’s Board of Directors.

          C. Change in Control shall mean a change in ownership or control of the Corporation
effected through any of the following transactions:

          (i) a merger, consolidation or other reorganization approved by the
Corporation’s stockholders, unless securities representing more than fifty
percent (50%) of the total combined voting power of the voting securities of the
successor corporation are immediately thereafter beneficially owned, directly or
indirectly and in substantially the same proportion, by the persons who beneficially
owned the Corporation’s outstanding voting securities immediately prior to such
transaction,

          (ii) a stockholder-approved sale, transfer or other disposition of all or
substantially all of the Corporation’s assets, or

          (iii) the closing of any transaction or series of related transactions pursuant
to which any person or any group of persons comprising a “group” within the meaning
of Rule 13d-5(b)(1) of the 1934 Act (other than the Corporation or a person that,
prior to such transaction or series of related transactions, directly or indirectly
controls, is controlled by or is under common control with, the Corporation) becomes
directly or indirectly the beneficial owner (within the meaning of Rule 13d-3 of the
1934 Act) of securities possessing (or convertible into or exercisable for
securities possessing) more than fifty percent (50%) of the total combined voting
power of the Corporation’s securities (as measured in terms of the power to vote
with respect to the election of Board members) outstanding immediately after the
consummation of such transaction or series of related transactions, whether such
transaction involves a direct issuance from the Corporation or the acquisition of
outstanding securities held by one or more of the Corporation’s existing
stockholders.

          D. Code shall mean the Internal Revenue Code of 1986, as amended.

          E. Common Stock shall mean the Corporation’s common stock.

A-1

 

          F. Corporation shall mean IntraBiotics Pharmaceuticals, Inc., a Delaware corporation,
and any corporate successor to all or substantially all of the assets or voting stock of
IntraBiotics Pharmaceuticals, Inc. which has by appropriate action assumed the Plan.

          G. Discretionary Grant Program shall mean the discretionary grant program in effect
under Article Two of the Plan pursuant to which stock options and stock appreciation rights may be
granted to one or more eligible individuals.

          H. Employee shall mean an individual who is in the employ of the Corporation (or any
Parent or Subsidiary, whether now existing or subsequently established), subject to the control and
direction of the employer entity as to both the work to be performed and the manner and method of
performance.

          I. Exercise Date shall mean the date on which the Corporation shall have received
written notice of the option exercise.

          J. Executive shall mean any Employee of the Corporation who, immediately prior to the
closing of a Change in Control transaction, holds the title of vice president or higher.

          K. Fair Market Value per share of Common Stock on any relevant date shall be
determined in accordance with the following provisions:

          (i) If the Common Stock is at the time traded on the Nasdaq National Market,
then the Fair Market Value shall be the closing selling price per share of Common
Stock on the date immediately preceding the date in question, as such price is
reported by the National Association of Securities Dealers on the Nasdaq National
Market and published in The Wall Street Journal. If there is no closing
selling price for the Common Stock on the date immediately preceding the date in
question, then the Fair Market Value shall be the closing selling price on the last
preceding date for which such quotation exists.

          (ii) If the Common Stock is at the time listed on any Stock Exchange, then the
Fair Market Value shall be the closing selling price per share of Common Stock on
the date immediately preceding the date in question on the Stock Exchange determined
by the Plan Administrator to be the primary market for the Common Stock, as such
price is officially quoted in the composite tape of transactions on such exchange
and published in The Wall Street Journal. If there is no closing selling
price for the Common Stock on the date immediately preceding the date in question,
then the Fair Market Value shall be the closing selling price on the last preceding
date for which such quotation exists.

          (iii) If the Common Stock is at the time quoted on a national or regional
securities exchange or market system (including over-the-counter markets) determined
by the Plan Administrator to be the primary market for the Common Stock, then the
Fair Market Value shall be the closing selling price (or,

A-2

 

if the Plan Administrator so determines, the mean of the closing bid and asked
prices of a share of Common Stock) per share of Common Stock on the date immediately
preceding on the date in question, as such price is officially reported by such
exchange or market system. If there is no closing selling price (or closing bid or
asked price) for the Common stock on the date in question, then the Fair Market
Value shall be the closing selling price (or, if the Plan Administrator so
determines, the mean of the closing bid and asked prices) of a share of Common Stock
on the last preceding date for which such quotation exists.

          (iv) If the Fair Market Value of the Common Stock cannot be determined in
accordance with the provisions of (i) through (iii) above, then the Fair Market
Value shall be determined in a manner prescribed by the Plan Administrator after
taking into account such factors as the Plan Administrator shall deem appropriate.

          L. Family Member means, with respect to a particular Optionee or Participant, any
child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling,
niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, bother-in-law or
sister-in-law.

          M. Hostile Take-Over shall mean a change in ownership or control of the Corporation
effected through either of the following transactions:

          (i) a change in the composition of the Board over a period of thirty-six (36)
consecutive months or less such that a majority of the Board members ceases, by
reason of one or more contested elections for Board membership, to be comprised of
individuals who either (A) have been Board members continuously since the beginning
of such period or (B) have been elected or nominated for election as Board members
during such period by at least a majority of the Board members described in clause
(A) who were still in office at the time the Board approved such election or
nomination, or

          (ii) a Hostile Tender-Offer.

          N. Hostile Tender-Offer shall mean the acquisition, directly or indirectly, by any
person or related group of persons (other than the Corporation or a person that directly or
indirectly controls, is controlled by, or is under common control with, the Corporation) of
beneficial ownership (within the meaning of Rule 13d-3 of the 1934 Act) of securities possessing
more than twenty percent (20%) of the total combined voting power of the Corporation’s outstanding
securities pursuant to a tender or exchange offer made directly to the Corporation’s stockholders
which the Board does not recommend such stockholders to accept.

          O. Incentive Option shall mean an option which satisfies the requirements of Code
Section 422.

A-3

 

          P. Involuntary Termination shall mean the termination of the Service of any individual
which occurs by reason of:

          (i) such individual’s involuntary dismissal or discharge by the Corporation (or
any Parent or Subsidiary) for reasons other than Misconduct, or

          (ii) such individual’s voluntary resignation following (A) a change in his or
her position with the Corporation (or any Parent or Subsidiary) which materially
reduces his or her duties and responsibilities or the level of management to which
he or she reports, (B) a reduction in his or her level of compensation (including
base salary, fringe benefits and target bonus under any corporate-performance based
bonus or incentive programs) by more than fifteen percent (15%) or (C) a relocation
of such individual’s place of employment by more than fifty (50) miles, provided and
only if such change, reduction or relocation is effected by the Corporation (or any
Parent or Subsidiary) without the individual’s consent.

          Q. Misconduct shall mean the commission of any act of fraud, embezzlement or
dishonesty by the Optionee or Participant, any unauthorized use or disclosure by such person of
confidential information or trade secrets of the Corporation (or any Parent or Subsidiary), or any
other intentional misconduct by such person adversely affecting the business or affairs of the
Corporation (or any Parent or Subsidiary) in a material manner. The foregoing definition shall not
in any way preclude or restrict the right of the Corporation (or any Parent or Subsidiary) to
discharge or dismiss any Optionee, Participant or other person in the Service of the Corporation
(or any Parent or Subsidiary) for any other acts or omissions, but such other acts or omissions
shall not be deemed, for purposes of the Plan, to constitute grounds for termination for
Misconduct.

          R. 1934 Act shall mean the Securities Exchange Act of 1934, as amended.

          S. Non-Statutory Option shall mean an option not intended to satisfy the requirements
of Code Section 422.

          T. Optionee shall mean any person to whom an option is granted under the Discretionary
Grant or Automatic Option Grant Program.

          U. Parent shall mean any corporation (other than the Corporation) in an unbroken chain
of corporations ending with the Corporation, provided each corporation in the unbroken chain (other
than the Corporation) owns, at the time of the determination, stock possessing fifty percent (50%)
or more of the total combined voting power of all classes of stock in one of the other corporations
in such chain.

          V. Participant shall mean any person who is issued shares of Common Stock or
restricted stock units or other stock-based awards under the Stock Issuance Program.

A-4

 

          W. Permanent Disability or Permanently Disabled shall mean the inability of the
Optionee or the Participant to engage in any substantial gainful activity by reason of any
medically determinable physical or mental impairment expected to result in death or to be of
continuous duration of twelve (12) months or more. However, solely for purposes of the Automatic
Option Grant Program, Permanent Disability or Permanently Disabled shall mean the inability of the
non-employee Board member to perform his or her usual duties as a Board member by reason of any
medically determinable physical or mental impairment expected to result in death or to be of
continuous duration of twelve (12) months or more.

          X. Plan shall mean the Corporation’s 2004 Stock Incentive Plan, as set forth in this
document.

          Y. Plan Administrator shall mean the Board acting in its administrative capacity under
the Plan.

          Z. Plan Effective Date shall mean the March 2, 2004 date on which the Plan was adopted
by the Board, subject to stockholder approval at the 2004 Annual Meeting.

          AA. Predecessor Plan shall mean the Corporation’s 2000 Equity Incentive Plan in effect
immediately prior to the 2004 Annual Stockholders Meeting.

          BB. Retirement shall mean the termination of Employee status after the later of (i)
the completion of five (5) years of Service in Employee status or (ii) attainment of age fifty-five
(55). For purposes of any options granted under the Automatic Option Grant Program, Retirement
shall mean the cessation of Board service after the later of (i) the completion of five (5) years
of Board service or (ii) attainment of age fifty-five (55).

          CC. Section 16 Insider shall mean an officer or director of the Corporation subject to
the short-swing profit liabilities of Section 16 of the 1934 Act.

          DD. Service shall mean the performance of services for the Corporation (or any Parent
or Subsidiary, whether now existing or subsequently established) by a person in the capacity of an
Employee, a non-employee member of the board of directors or a consultant or independent advisor,
except to the extent otherwise specifically provided in the documents evidencing the option grant
or stock issuance. Service shall not be deemed to cease during a period of military leave, sick
leave or other personal leave approved by the Corporation; provided, however, that for a
leave which exceeds ninety (90) days, Service shall be deemed, for purposes of determining the
period within which any outstanding option held by the Optionee in question may be exercised as an
Incentive Option, to cease on the ninety-first (91st) day of such leave, unless the
right of that Optionee to return to Service following such leave is guaranteed by law or statute.
Except to the extent otherwise required by law or expressly authorized by the Plan Administrator,
no Service credit shall be given for vesting purposes for any period the Optionee or Participant is
on a leave of absence.

A-5

 

          EE. Stock Exchange shall mean either the American Stock Exchange or the New York Stock
Exchange.

          FF. Stock Issuance Agreement shall mean the agreement entered into by the Corporation
and the Participant at the time of issuance of shares of Common Stock under the Stock Issuance
Program.

          GG. Stock Issuance Program shall mean the stock issuance program in effect under
Article Three of the Plan.

          HH. Subsidiary shall mean any corporation (other than the Corporation) in an unbroken
chain of corporations beginning with the Corporation, provided each corporation (other than the
last corporation) in the unbroken chain owns, at the time of the determination, stock possessing
fifty percent (50%) or more of the total combined voting power of all classes of stock in one of
the other corporations in such chain.

          II. 10% Stockholder shall mean the owner of stock (as determined under Code Section
424(d)) possessing more than ten percent (10%) of the total combined voting power of all classes of
stock of the Corporation (or any Parent or Subsidiary).

          JJ. Tender-Offer Price shall mean the greater of (i) the Fair Market Value per share
of Common Stock on the date the option is surrendered to the Corporation in connection with a
Hostile Tender-Offer or (ii) the highest reported price per share of Common Stock paid by the
tender offeror in effecting such Hostile Tender-Offer. However, if the surrendered option is an
Incentive Option, the Tender-Offer Price shall not exceed the clause (i) price per share.

          KK. Withholding Taxes shall mean the applicable income and employment withholding
taxes to which the holder of an option or stock appreciation right or shares of Common Stock under
the Plan may become subject in connection with the grant or exercise of those options or stock
appreciation rights or the issuance or vesting of those shares.

A-6<PAGE>

                                                                   EXHIBIT 10.33

                                                               EXECUTION VERSION

                      FISHER SCIENTIFIC INTERNATIONAL INC.

                      SECOND AMENDMENT TO CREDIT AGREEMENT

                               AND LIMITED WAIVER

       This SECOND AMENDMENT TO CREDIT AGREEMENT AND LIMITED WAIVER (this
"Amendment") is dated as of December 14, 2005 and entered into by and among
Fisher Scientific International Inc., a Delaware corporation (the "Borrower"),
the financial institutions listed herein (the "Lenders"), and Bank of America,
N.A., as the Administrative Agent (in such capacity, the "Administrative
Agent"), Banc of America Securities LLC, as Sole Lead Arranger and Sole Book
Manager, and, for purposes of Section 5 hereof, Fisher Scientific Company
L.L.C., Fisher Clinical Services Inc., Fisher Scientific Worldwide Inc. and
Apogent Technologies Inc. (collectively, the "Guarantors"), and is made with
reference to that certain Credit Agreement, dated as of August 2, 2004, by and
among the Borrower, the lenders from time to time party thereto, Bank of
America, N.A., as the Administrative Agent and Swing Line Lender, and certain
other financial institutions party thereto, as amended by that certain First
Amendment to Credit Agreement dated as of December 29, 2004 (as so amended, the
"Credit Agreement"). Capitalized terms used herein without definition shall have
the same meanings herein as set forth in the Credit Agreement.

                                    RECITALS

              WHEREAS, the Borrower and the Lenders desire to amend the Credit
Agreement to (i) change the definition of "Applicable Rate" as set forth herein;
(ii) increase the aggregate principal amount of Tranche A-1 Term Loan
Commitments by $148,125,000; (iii) terminate the Tranche A-2 Term Loan
Commitments; (iv) increase the Revolving Loan Commitments by $300,000,000; and
(v) make certain other amendments as set forth below;

              NOW, THEREFORE, in consideration of the premises and the
agreements, provisions and covenants herein contained, the parties hereto agree
as follows:

              SECTION 1.    AMENDMENTS TO THE CREDIT AGREEMENT

              1.1    AMENDMENTS TO ARTICLE I: DEFINITIONS AND ACCOUNTING TERMS.

              (a) Section 1.01 of the Credit Agreement is hereby amended by
       adding thereto the following definitions, which shall be inserted in
       proper alphabetical order:

              "Fitch" means Fitch Ratings and any successor thereto.

              "Second Amendment Effective Date" means the date of effectiveness
       of that certain Second Amendment to Credit Agreement and Limited Waiver
       dated as of December 14, 2005 by and among the Borrower, the Lenders, the
       Administrative Agent, Banc of America Securities LLC, as Sole Lead
       Arranger and Sole Book Manager, and, for purposes of Section 5 thereof,
       the Guarantors (as defined therein)."

                                       1
<PAGE>

              (b) Section 1.01 of the Credit Agreement is hereby further amended
       by deleting the definition of "Applicable Debt Rating" therefrom in its
       entirety and substituting the following therefor:

              "Applicable Debt Rating" means, as of any date of determination,
       the most recent long-term senior secured debt ratings of the Borrower
       publicly announced by two of the following three rating agencies: S&P,
       Moody's and Fitch (collectively, the "Debt Ratings"); provided that (a)
       until such time as the Borrower has received a Debt Rating from Fitch, if
       there is a split between the two highest Debt Ratings, the higher of such
       two Debt Ratings shall apply, (b) at any time after the Borrower has
       received a Debt Rating from Fitch, if there is a split between the two
       highest Debt Ratings, the lower of such two Debt Ratings shall apply and
       (c) in any case, if such split between the two highest Debt Ratings is
       greater than one level, then the Debt Rating one level below the highest
       Debt Rating shall apply.

              (c) Section 1.01 of the Credit Agreement is hereby further amended
       by deleting the definition of "Applicable Rate" therefrom in its entirety
       and substituting the following therefor:

              "`Applicable Rate' means, from time to time, the following
       percentages per annum, based upon the Applicable Debt Rating as set forth
       below:

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------
                                  APPLICABLE RATE
--------------------------------------------------------------------------------------
         APPLICABLE DEBT       BASE RATE      EURODOLLAR     LETTER OF      COMMITMENT
 LEVEL       RATING              LOANS        RATE LOANS     CREDIT FEE        FEE
--------------------------------------------------------------------------------------
<S>                              <C>            <C>            <C>            <C>

   I     Higher than BBB,        0.00%          0.500%         0.500%         0.100%
         Baa2 or BBB
--------------------------------------------------------------------------------------
  II     BBB, Baa2 or BBB        0.00%          0.625%         0.625%         0.125%
--------------------------------------------------------------------------------------
  III    BBB-, Baa3 or BBB-      0.00%          0.750%         0.750%         0.150%
--------------------------------------------------------------------------------------
  IV     BB+, Ba1 or BB+         0.25%          1.125%         1.125%         0.200%
--------------------------------------------------------------------------------------
   V     Lower than BB+,         0.50%          1.375%         1.375%         0.250%
         Ba1 or BB+, or
         unrated
--------------------------------------------------------------------------------------
</TABLE>

       Each change in the Applicable Rate resulting from a change in the
       Applicable Debt Rating shall become effective on the date of the public
       announcement thereof. Any adjustment in the Applicable Rate shall apply
       to existing Eurodollar Rate Loans as well as any new Eurodollar Rate
       Loans."

                                       2
<PAGE>

              1.2    AMENDMENTS TO ARTICLE II: THE COMMITMENTS AND CREDIT
                     EXTENSIONS.

              A. Section 2.01(a) of the Credit Agreement is hereby amended by
deleting it in its entirety and substituting the following therefor:

              "Immediately prior to the Second Amendment Effective Date, Tranche
       A-1 Term Loans in an aggregate principal amount of $233,125,000 were
       outstanding. Each Lender that has a Tranche A-1 Term Loan Commitment
       severally agrees to lend to the Borrower on the Second Amendment
       Effective Date Tranche A-1 Term Loans in an aggregate principal amount
       such that the sum of its Tranche A-1 Term Loans outstanding immediately
       prior to the Second Amendment Effective Date, if any, plus its Tranche
       A-1 Term Loans made (or purchased and assumed) on the Second Amendment
       Effective Date shall not exceed the amount of its Tranche A-1 Term Loan
       Commitment as set forth on Schedule 2.01 annexed hereto. In addition to
       the borrowing made on the Closing Date, the Borrower may make only one
       additional borrowing under the Tranche A-1 Term Loan Commitments on the
       Second Amendment Effective Date. Amounts borrowed under this Section
       2.01(a) and subsequently repaid or prepaid may not be reborrowed. Tranche
       A-1 Term Loans may be Base Rate Loans or Eurodollar Rate Loans, as
       further provided herein."

              B. Section 2.01(b) of the Credit Agreement is hereby amended by
deleting it in its entirety and substituting the following therefor:

              "Each Lender that has a Tranche A-2 Term Loan Commitment severally
       agrees to lend to the Borrower, on any Business Day after the conditions
       set forth in Section 4.03 have been satisfied through and including the
       day immediately prior to the Second Amendment Effective Date, an amount
       not exceeding its Tranche A-2 Term Loan Commitment. The aggregate amount
       of the Tranche A-2 Term Loan Commitments is $300,000,000. Each Lender's
       Tranche A-2 Term Loan Commitment shall expire immediately and without
       further action on the day immediately prior to the Second Amendment
       Effective Date if the Tranche A-2 Term Loans are not made on or before
       that date. The Borrower may make only one borrowing under the Tranche A-2
       Term Loan Commitments. Amounts borrowed under this Section 2.01(b) and
       subsequently repaid or prepaid may not be reborrowed. Tranche A-2 Term
       Loans may be Base Rate Loans or Eurodollar Rate Loans, as further
       provided herein."

              C. Section 2.01(d) of the Credit Agreement is hereby amended by
deleting it in its entirety and substituting the following therefor:

              "Each Revolving Lender severally agrees to make Revolving Loans to
       the Borrower from time to time, on any Business Day during the
       Availability Period, in an aggregate amount not to exceed at any time
       outstanding the amount of such Revolving Lender's Revolving Loan
       Commitment; provided, however, that after giving effect to any Revolving
       Loan, (i) the Total Utilization of Revolving Loan Commitments shall not
       exceed the Revolving Loan Commitments, and (ii) the sum of (A) the
       aggregate Outstanding Amount of the Revolving Loans of any Revolving
       Lender, plus (B) such Revolving Lender's Pro Rata Share of the
       Outstanding Amount of all L/C Obligations,

                                       3
<PAGE>

       plus (C) such Revolving Lender's Pro Rata Share of the Outstanding Amount
       of all Swing Line Loans shall not exceed such Revolving Lender's
       Revolving Loan Commitment. The aggregate amount of the Revolving Loan
       Commitments as of the Second Amendment Effective Date is $800,000,000.
       Within the limits of this Section 2.01(d), and subject to the other terms
       and conditions hereof, the Borrower may borrow Revolving Loans under this
       Section 2.01(d), prepay Revolving Loans under Section 2.08, and reborrow
       Revolving Loans under this Section 2.01(d). Revolving Loans may be Base
       Rate Loans or Eurodollar Rate Loans, as further provided herein."

              D. Section 2.10(a) of the Credit Agreement is hereby amended by
deleting it in its entirety and substituting the following therefor:

              "Scheduled Payments of Tranche A-1 Term Loans. The Borrower shall
       make principal payments on the Tranche A-1 Term Loans in installments on
       the dates and in the amounts set forth below:

<TABLE>
<CAPTION>
       -------------------------------------------------------------------------
                         Date                                Scheduled Repayment
       -------------------------------------------------------------------------
        <S>                                                      <C>
        December 31, 2005                                       $         0.00
       -------------------------------------------------------------------------
        March 31, 2006                                          $ 7,148,437.50
       -------------------------------------------------------------------------
        June 30, 2006                                           $ 7,148,437.50
       -------------------------------------------------------------------------
        September 30, 2006                                      $ 7,148,437.50
       -------------------------------------------------------------------------
        December 31, 2006                                       $ 7,148,437.50
       -------------------------------------------------------------------------
        March 31, 2007                                          $ 7,148,437.50
       -------------------------------------------------------------------------
        June 30, 2007                                           $ 7,148,437.50
       -------------------------------------------------------------------------
        September 30, 2007                                      $ 7,148,437.50
       -------------------------------------------------------------------------
        December 31, 2007                                       $ 7,148,437.50
       -------------------------------------------------------------------------
        March 31, 2008                                          $ 9,531,250.00
       -------------------------------------------------------------------------
        June 30, 2008                                           $ 9,531,250.00
       -------------------------------------------------------------------------
        September 30, 2008                                      $ 9,531,250.00
       -------------------------------------------------------------------------
        December 31, 2008                                       $ 9,531,250.00
       -------------------------------------------------------------------------
        March 31, 2009                                          $95,312,500.00
       -------------------------------------------------------------------------
        June 30, 2009                                           $95,312,500.00
       -------------------------------------------------------------------------
</TABLE>

                                       4
<PAGE>

<TABLE>
<CAPTION>
       -------------------------------------------------------------------------
        <S>                                                      <C>
        Tranche A-1 Term Loan Maturity Date                     $95,312,500.00
       -------------------------------------------------------------------------
</TABLE>

; provided that the scheduled installments of principal of the Tranche A-1 Term
Loans set forth above shall be reduced in connection with any voluntary
prepayments of the Tranche A-1 Term Loans in accordance with Section 2.08; and
provided further, that the Tranche A-1 Term Loans and all other amounts owed
hereunder with respect to the Tranche A-1 Term Loans shall be paid in full no
later than the Tranche A-1 Term Loan Maturity Date, and the final installment
payable by the Borrower in respect of the Tranche A-1 Term Loans on such date
shall be in an amount, if such amount is different from that specified above,
sufficient to repay all amounts owing by the Borrower under this Agreement with
respect to the Tranche A-1 Term Loans."

              E. Section 2.12(b) of the Credit Agreement is hereby amended by
deleting it in its entirety and substituting the following therefor:

              "Ticking Fee. The Borrower shall pay to the Administrative Agent
       for the account of each Tranche A-2 Term Loan Lender in accordance with
       its Pro Rata Share, a ticking fee in Dollars equal to 0.25% per annum
       times the Tranche A-2 Term Loan Commitments. The ticking fee shall accrue
       at all times from and including the Closing Date until the earlier of (i)
       the Funding Date of the Tranche A-2 Term Loans or (ii) the day
       immediately prior to the Second Amendment Effective Date, including at
       any time during which one or more of the conditions in Article IV is not
       met. The ticking fee shall be due and payable quarterly in arrears on the
       first Business Day after the end of each March, June, September and
       December, commencing with the first such date to occur after the Closing
       Date, and on the earlier of (A) the Funding Date of the Tranche A-2 Term
       Loans or (B) the Second Amendment Effective Date. The ticking fee shall
       be calculated quarterly in arrears."

              1.3    AMENDMENTS TO ARTICLE VI: AFFIRMATIVE COVENANTS.

              A. Section 6.03(e) of the Credit Agreement is hereby amended by
deleting it in its entirety and substituting the following therefor:

              "of any announcement by Moody's, S&P or Fitch of any initial
       rating or change in a rating assigned to these credit facilities; and"

              B. Section 6.11 of the Credit Agreement is hereby amended by
deleting it in its entirety and substituting the following therefor:

              "USE OF PROCEEDS. Use the proceeds of the Credit Extensions to
       repay the Existing Indebtedness, and to provide financing for working
       capital, capital expenditures and for general corporate purposes;
       provided that the proceeds of the additional Tranche A-1 Term Loans made
       on the Second Amendment Effective Date shall be applied to prepay the
       Tranche B Term Loans."

                                       5
<PAGE>

              1.4    AMENDMENTS TO ARTICLE VII: NEGATIVE COVENANTS.

              A. Section 7.05(m) of the Credit Agreement is hereby amended by
deleting it in its entirety and substituting the following therefor:

              "Dispositions by the Borrower and its Subsidiaries of property in
       an amount not to exceed an amount equal to 10% of Consolidated Total
       Assets; provided that at the time of such Disposition, no Default shall
       exist or would result from such Disposition;"

              1.5    SUBSTITUTION OF SCHEDULE.

              A. Schedule 2.01 to the Credit Agreement is hereby amended by
deleting said Schedule 2.01 in its entirety and substituting in place thereof a
new Schedule 2.01 in the form of Schedule 2.01 to this Amendment.

              SECTION 2. LIMITED WAIVER

       At the request of the Borrower, the undersigned Lenders with Tranche A-1
Term Loan Exposure, constituting Required Class Lenders for the Class of Lenders
having Tranche A-1 Term Loan Exposure under the Credit Agreement, hereby waive
compliance with the provisions of Section 2.08(a) of the Credit Agreement to the
extent, and only to the extent, necessary to permit the voluntary prepayment of
the Tranche B Term Loans in whole on the Second Amendment Effective date without
any amount of the proceeds of such prepayment being applied to the prepayment of
the Tranche A-1 Term Loans.

       Without limiting the generality of the provisions of Section 10.01 of the
Credit Agreement, the waiver set forth above shall be limited precisely as
written and relates solely to the noncompliance by the Borrower with the
provisions of Section 2.08(a) of the Credit Agreement in the manner and to the
extent described above, and nothing in this Amendment shall be deemed to (a)
constitute a waiver of compliance by the Borrower with respect to (1) Section
2.08(a) of the Credit Agreement in any other instance or (2) any other term,
provision or condition of the Credit Agreement or any other instrument or
agreement referred to therein; or (b) prejudice any right or remedy that the
Administrative Agent or any Lender may now have or may have in the future under
or in connection with the Credit Agreement or any other instrument or agreement
referred to therein.

              SECTION 3. CONDITIONS TO EFFECTIVENESS

              Sections 1 and 2 of this Amendment shall become effective only
upon the satisfaction of all of the following conditions precedent (the date of
satisfaction of such conditions being referred to herein as the "Second
Amendment Effective Date"):

              A. LOAN PARTY DOCUMENTS. The Administrative Agent's receipt of the
following, each of which shall be originals or facsimiles (followed promptly by
originals) unless otherwise specified, each properly executed by a Responsible
Officer of the applicable Loan Party, each dated the Second Amendment Effective
Date (unless otherwise specified below) and each in form and substance
satisfactory to the Administrative Agent and each of the Lenders:

                                       6
<PAGE>

              (i)    A certificate, dated as of the Second Amendment Effective
       Date, of each Loan Party's corporate secretary or an assistant secretary,
       certifying that there have been no changes in such Loan Party's
       Organization Documents from the form of Organization Documents previously
       delivered to the Lenders;

              (ii)   Such documents and certifications as the Administrative
       Agent may reasonably require to evidence that each Loan Party is duly
       organized or formed, and that each Loan Party is validly existing, in
       good standing and qualified to engage in business in its jurisdiction of
       organization;

              (iii)  Resolutions of the Borrower's Board of Directors approving
       and authorizing the execution, delivery, and performance of this
       Amendment, certified as of the Second Amendment Effective Date by its
       corporate secretary or an assistant secretary as being in full force and
       effect without modification or amendment;

              (iv)   Signature and incumbency certificates of each Loan Party
       executing this Amendment; and

              (v)    Copies of this Amendment executed by each Loan Party.

              B. OPINIONS. The Lenders shall have received copies of one or more
favorable written opinions of Skadden, Arps, Slate, Meagher & Flom LLP, special
counsel for the Loan Parties and of Sarah Hlavinka McConnell, secretary of the
Borrower, in form and substance reasonably satisfactory to the Administrative
Agent and its counsel, dated as of the Second Amendment Effective Date.

              C. CERTIFICATE. A certificate signed by a Responsible Officer of
the Borrower certifying that the conditions specified in Sections 4.02(a) and
(b) of the Credit Agreement have been satisfied.

              D. LENDERS. The Administrative Agent shall have received copies of
this Amendment executed by Required Lenders, each Lender with Tranche A-1 Term
Loan Exposure and each Lender with Revolving Loan Exposure.

              E. FEES. The Borrower shall have paid (i) to the Administrative
Agent, for ratable distribution to each Lender increasing its Revolving Loan
Commitment pursuant to this Amendment, an upfront fee equal to 0.15% of the
aggregate principal amount of such increase in such Lender's Revolving Loan
Commitment, and (ii) to the Administrative Agent for its own account such fees
in such amounts as have been separately agreed upon between the Borrower and the
Administrative Agent.

              F. COMPLETION OF PROCEEDINGS. On or before the Second Amendment
Effective Date, the Administrative Agent and its counsel shall have received all
counterpart originals or certified copies of such documents as the
Administrative Agent may reasonably request.

              G. PREPAYMENT. The Borrower shall have irrevocably committed the
proceeds of the additional Tranche A-1 Term Loans to be made on the Second
Amendment Effective Date to the prepayment of the Tranche B Term Loans.

                                       7
<PAGE>

              H. REPAYMENT. The Borrower shall have paid to the Administrative
Agent, for ratable distribution to the Lenders, all interest and fees accrued
under the Credit Agreement through the Second Amendment Effective Date.

              I. OTHER CERTIFICATES. Such other certificates or documents as the
Administrative Agent or Required Lenders reasonably may require.

              SECTION 4. REPRESENTATIONS AND WARRANTIES

              In order to induce the Lenders to enter into this Amendment and to
amend the Credit Agreement in the manner provided herein, the Borrower
represents and warrants to each Lender that the following statements are true,
correct and complete:

              A. CORPORATE POWER AND AUTHORITY. The Borrower has all requisite
power and authority to execute, deliver and perform its obligations under this
Amendment.

              B. AUTHORIZATION; NO CONTRAVENTION. The execution, delivery and
performance of this Amendment have been duly authorized by all necessary
corporate or other organizational action, and do not and will not (i) contravene
the terms of any of the Organization Documents of the Borrower or any Guarantor;
(ii) conflict with or result in any breach or contravention of, or the creation
of any Lien (other than the creation of Liens under any of the Loan Documents in
favor of the Administrative Agent on behalf of the Lenders) under, (a) any
Contractual Obligation to which the Borrower or any Guarantor is a party or (b)
any material order, injunction, writ or decree of any Governmental Authority to
which the Borrower, any Guarantor or the property of the Borrower or any
Guarantor is subject; or (iii) violate any Law in any material respect.

              C. GOVERNMENTAL AUTHORIZATION; OTHER CONSENTS. No material
approval, consent, exemption, authorization, or other material action by, or
material notice to, or material filing with, any Governmental Authority or any
other Person that has not been obtained or made is necessary or required in
connection with the execution, delivery or performance by, or enforceability
against, the Borrower or any Guarantor of this Amendment.

              D. BINDING EFFECT. This Amendment has been duly executed and
delivered by the Borrower and each Guarantor. This Amendment constitutes a
legal, valid and binding obligation of the Borrower and each Guarantor,
enforceable against such Person in accordance with its terms, subject to
applicable bankruptcy, insolvency, reorganization, moratorium or other laws
affecting creditors' rights generally and subject to general principles of
equity, regardless of whether considered in a proceeding in equity or at law.

              E. INCORPORATION OF REPRESENTATIONS AND WARRANTIES FROM CREDIT
AGREEMENT. The representations and warranties contained in Article V of the
Credit Agreement are and will be true, correct and complete in all material
respects on and as of the Second Amendment Effective Date (after giving effect
to the Second Amendment) to the same extent as though made on and as of that
date, except to the extent such representations and warranties specifically
relate to an earlier date, in which case they were true, correct and complete in
all material respects on and as of such earlier date, and except that the
representations and warranties contained in subsections (a) and (b) of Section
5.05 of the Credit Agreement shall be

                                       8
<PAGE>

deemed to refer to the most recent statements furnished pursuant to clauses (a)
and (b), respectively, of Section 6.01 of the Credit Agreement.

              F. ABSENCE OF DEFAULT. No Default has occurred and is continuing
or would result from the consummation of the transactions contemplated by this
Amendment.

              SECTION 5. ACKNOWLEDGEMENT AND CONSENT

              Each Guarantor hereby acknowledges and agrees that any of the
Guaranty and the Collateral Documents (each, a "Credit Support Document") to
which it is a party or otherwise bound shall continue in full force and effect
and that all of its obligations thereunder shall be valid and enforceable and
shall not be impaired or limited by the execution or effectiveness of this
Amendment. Each Guarantor represents and warrants that all representations and
warranties contained in the Credit Agreement as amended by this Amendment (the
"Amended Agreement") and the Credit Support Documents to which it is a party or
otherwise bound are true, correct and complete in all material respects on and
as of the Second Amendment Effective Date to the same extent as though made on
and as of that date, except to the extent such representations and warranties
specifically relate to an earlier date, in which case they were true, correct
and complete in all material respects on and as of such earlier date.

              Each Guarantor acknowledges and agrees that (i) notwithstanding
the conditions to effectiveness set forth in this Amendment, such Guarantor is
not required by the terms of the Credit Agreement or any other Loan Document to
consent to the amendments to the Credit Agreement effected pursuant to this
Amendment and (ii) nothing in the Credit Agreement, this Amendment or any other
Loan Document shall be deemed to require the consent of such Guarantor to any
future amendments to the Credit Agreement.

              SECTION 6. MISCELLANEOUS

              A. REFERENCE TO AND EFFECT ON THE CREDIT AGREEMENT AND THE OTHER
LOAN DOCUMENTS.

              (i)    On and after the Second Amendment Effective Date, each
       reference in the Credit Agreement to "this Agreement", "hereunder",
       "hereof", "herein" or words of like import referring to the Credit
       Agreement, and each reference in the other Loan Documents to the "Credit
       Agreement", "thereunder", "thereof" or words of like import referring to
       the Credit Agreement shall mean and be a reference to the Amended
       Agreement.

              (ii)   Except as specifically amended by this Amendment, the
       Credit Agreement and the other Loan Documents shall remain in full force
       and effect and are hereby ratified and confirmed.

              (iii)  The execution, delivery and performance of this Amendment
       shall not, except as expressly provided herein, constitute a waiver of
       any provision of, or operate as a waiver of any right, power or remedy of
       the Administrative Agent or any Lender under, the Credit Agreement or any
       of the other Loan Documents.

                                       9
<PAGE>

              B. FEES AND EXPENSES. The Borrower acknowledges that all costs,
fees and expenses as described in Section 10.04 of the Credit Agreement incurred
by the Administrative Agent and its counsel with respect to this Amendment and
the documents and transactions contemplated hereby shall be for the account of
the Borrower.

              C. HEADINGS. Section and subsection headings in this Amendment are
included herein for convenience of reference only and shall not constitute a
part of this Amendment for any other purpose or be given any substantive effect.

              D. APPLICABLE LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS
OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

              E. COUNTERPARTS; EFFECTIVENESS. This Amendment may be executed in
any one or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument.

                  [Remainder of page intentionally left blank]

                                       10
<PAGE>

              IN WITNESS WHEREOF, the parties hereto have caused this Amendment
to be duly executed and delivered by their respective officers thereunto duly
authorized as of the date first written above.

                                           FISHER SCIENTIFIC INTERNATIONAL INC.

                                           By: /s/ Kevin P. Clark
                                              ----------------------------------
                                           Name:Kevin P. Clark
                                           Title: Vice President and Chief
                                                  Financial Officer

                                           FISHER SCIENTIFIC COMPANY L.L.C.

                                           By: /s/ Kevin P. Clark
                                              ----------------------------------
                                           Name: Kevin P. Clark
                                           Title: Vice President and Treasurer

                                           FISHER CLINICAL SERVICES INC.

                                           By: /s/ Kevin P. Clark
                                              ----------------------------------
                                           Name: Kevin P. Clark
                                           Title: Vice President and Treasurer

                                           FISHER SCIENTIFIC WORLDWIDE INC.

                                           By: /s/ Kevin P. Clark
                                              ----------------------------------
                                           Name: Kevin P. Clark
                                           Title: Treasurer

                                           APOGENT TECHNOLOGIES INC.

                                           By: /s/ Kevin P. Clark
                                              ----------------------------------
                                           Name: Kevin P. Clark
                                           Title: Vice President

<PAGE>

                                           BANK OF AMERICA, N.A., as the
                                           Administrative Agent and as a Lender

                                           By: /s/ Authorized Officer
                                              ----------------------------------

                                           Name: _______________________________

                                           Title: ______________________________

<PAGE>

                                           BANC OF AMERICA SECURITIES, as Sole
                                           Lead Arranger and Sole Book Manager

                                           By: /s/ Authorized Officer
                                              ----------------------------------

                                           Name: _______________________________

                                           Title: ______________________________

<PAGE>

                                           ____________________________________,
                                           as a Lender

                                           By: /s/ Authorized Officer
                                              ----------------------------------

                                           Name: _______________________________

                                           Title: ______________________________

<PAGE>

                                  SCHEDULE 2.01

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
                                                                                                 TRANCHE
                                                REVOLVING LOAN            PRO RATA            A-1 TERM LOAN             PRO RATA
                 LENDER                           COMMITMENT                SHARE               COMMITMENT                SHARE
----------------------------------------------------------------------------------------------------------------------------------
<S>                                            <C>                       <C>                 <C>                      <C>
Bank of America, N.A.                          $ 78,120,552.32           9.765069040%        $ 21,626,105.67          5.672421159%
---------------------------------------------------------------------------------------------------------------------------------
Mizuho Corporate Bank Ltd.                       46,690,476.19           5.836309524%          16,214,880.96          4.253083530%
----------------------------------------------------------------------------------------------------------------------------------
Bank of Tokyo -  Mitsubishi Trust                45,000,000.00           5.625000000%          20,000,000.00          5.245901639%
Company
----------------------------------------------------------------------------------------------------------------------------------
The Bank of Nova Scotia                          40,000,000.00           5.000000000%                   0.00
----------------------------------------------------------------------------------------------------------------------------------
Scotiabanc Inc.                                           0.00           0.000000000%          19,062,500.00          5.000000000%
----------------------------------------------------------------------------------------------------------------------------------
HSBC Bank USA, N.A.                              37,300,000.00           4.662500000%           8,700,000.00          2.281967213%
----------------------------------------------------------------------------------------------------------------------------------
Deutsche Bank Trust Company Americas             36,904,761.90           4.613095238%           7,770,238.07          2.038095231%
----------------------------------------------------------------------------------------------------------------------------------
ABN Amro Bank N.V.                               33,523,809.50           4.190476188%          14,706,547.63          3.857455116%
----------------------------------------------------------------------------------------------------------------------------------
Credit Suisse, Cayman Islands Branch             31,857,142.85           3.982142856%          10,762,515.28          2.822954828%
----------------------------------------------------------------------------------------------------------------------------------
Bank of China, New York Branch                   30,714,285.72           3.839285715%           9,285,714.28          2.435597188%
----------------------------------------------------------------------------------------------------------------------------------
Sumitomo Mitsui Banking Corporation              30,476,190.48           3.809523810%          38,880,952.37         10.198282589%
----------------------------------------------------------------------------------------------------------------------------------
Suntrust Bank                                    30,298,493.81           3.787311726%          15,243,196.19          3.998215394%
----------------------------------------------------------------------------------------------------------------------------------
Calyon New York Branch                           29,200,000.00           3.650000000%          15,800,000.00          4.144262295%
----------------------------------------------------------------------------------------------------------------------------------
JPMorgan Chase Bank, N.A.                        28,190,476.20           3.523809525%           8,214,880.90          2.154722859%
----------------------------------------------------------------------------------------------------------------------------------
KeyBank National Association                     28,190,476.00           3.523809500%          10,223,321.00          2.681526820%
----------------------------------------------------------------------------------------------------------------------------------
Goldman Sachs Credit Partners LP                 25,891,774.89           3.236471861%           2,346,138.55          0.615380603%
----------------------------------------------------------------------------------------------------------------------------------
National City Bank                               24,000,000.00           3.000000000%          16,000,000.00          4.196721311%
----------------------------------------------------------------------------------------------------------------------------------
Barclays Bank PLC                                23,619,048.00           2.952381000%           7,104,167.00          1.863388066%
----------------------------------------------------------------------------------------------------------------------------------
ING Capital LLC                                  23,619,048.00           2.952381000%          10,520,000.00          2.759344262%
----------------------------------------------------------------------------------------------------------------------------------
Sovereign Bank                                   23,619,047.62           2.952380953%           1,287,738.11          0.337767373%
----------------------------------------------------------------------------------------------------------------------------------
Credit Industriel et Commercial                  21,774,891.77           2.721861471%           7,669,913.43          2.011780572%
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
<S>                                              <C>                     <C>                   <C>                    <C>
The Norinchukin Bank, New York Branch            20,000,000.00           2.500000000%          10,000,000.00          2.622950820%
----------------------------------------------------------------------------------------------------------------------------------
The Bank of New York                             19,047,620.00           2.380952500%           9,077,381.00          2.380952393%
----------------------------------------------------------------------------------------------------------------------------------
Governor & Company of the Bank of                19,047,619.05           2.380952381%           5,550,595.24          1.455893833%
Ireland
----------------------------------------------------------------------------------------------------------------------------------
United Overseas Bank Limited, New York           18,761,904.76           2.345238095%          16,882,738.11          4.428259176%
Agency
----------------------------------------------------------------------------------------------------------------------------------
Merrill Lynch Capital Corporation                15,023,809.52           1.877976190%          14,769,047.63          3.873848559%
----------------------------------------------------------------------------------------------------------------------------------
Allied Irish Banks PLC                           15,000,000.00           1.875000000%          15,000,000.00          3.934426230%
----------------------------------------------------------------------------------------------------------------------------------
Peoples Bank                                     11,428,571.42           1.428571428%           8,571,428.58          2.248243562%
----------------------------------------------------------------------------------------------------------------------------------
Erste Bank                                        7,700,000.00           0.962500000%          12,300,000.00          3.226229508%
----------------------------------------------------------------------------------------------------------------------------------
General Electric Capital Corporation              5,000,000.00           0.625000000%          20,000,000.00          5.245901639%
----------------------------------------------------------------------------------------------------------------------------------
Sumitomo Trust and Banking Co., Ltd.,                     0.00           0.000000000%           3,950,000.00          1.036065574%
New York Branch
----------------------------------------------------------------------------------------------------------------------------------
PB Capital Corporation                                    0.00           0.000000000%           3,730,000.00          0.978360656%
----------------------------------------------------------------------------------------------------------------------------------
Total                                          $800,000,000.00         100.000000000%        $381,250,000.00        100.000000000%
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}]]