Document:

Lexaria Bioscience Corp.: Exhibit 10.2 - Filed by newsfilecorp.com

Exhibit10.2 

INTELLECTUAL PROPERTY LICENSE
#2018US02 

     This document certifies that an
Intellectual Property License dated as of February 23, 2018 has been granted
by:

Lexaria Bioscience Corp., a Nevada corporation with
offices at 156 Valleyview Rd, Kelowna, British 
Columbia, V1X 3M4, Canada
(“Licensor”, “Lexaria”, “us”, “our”,
“we”),

To: 

Biolog, Inc., a Utah corporation with offices at 4430
Haskell Ave, Encino Ca 91436 (together with its 
successors and assigns
“BIOLOG”, “Licensee”, “you”, “your”).

RECITALS 

     WHEREAS certain capitalized terms
not otherwise defined below are defined in Exhibit “D” herein; 

     WHEREAS, LICENSEE is directly (or
indirectly through a partner, as further contemplated in Section 1(a) below)
engaged in the business of developing, manufacturing, and selling
cannabis-infused products pursuant to licenses issued by the authorities
relevant in each and every geographic location referenced within this Agreement,
pursuant to regulations promulgated thereby; 

     WHEREAS, LICENSOR owns and holds, and
will make improvements from time to time, on certain intellectual property and
technology (“Technology”) related to, including but not limited to, the
development, testing, and manufacturing process for marijuana-infused products,
which Technology is more specifically described in Exhibit “A”; 

     WHEREAS, LICENSEE wishes to utilize
the Technology (which shall include any Licensor’s Improvements) of LICENSOR,
and LICENSOR desires for LICENSEE to utilize the Technology with either
cannabinoids of any kind (“Product A”) and/or with vitamins of any kind
(“Product B”) to create, manufacture and sell consumable infused
seasoning stick products as specifically covered by patents currently held by
the LICENSEE as of the Effective Date (together, the “End Products”), as
further described in Exhibit B and in Definitions, subject to the terms and
conditions set forth herein. Such End Products shall only be distributed and/or
sold by LICENSEE or Partner as defined in Section 1.a below in compliance with
all local and state, licensing requirements (and specifically, for Product A,
those state and local regulations applicable to the cannabis industry), within
the United States of America in which LICENSEE is permitted by this Agreement or
an addendum to this Agreement to sell or distribute the End Products (such
locations collectively referred to as “Permitted Locations” or
“Territory”); 

     NOW, THEREFORE, in consideration
of the promises and the respective covenants and agreements of the parties
contained in this Agreement, the Parties hereto agree as follows: 

LICENSE 

     1. License of
Technology: Subject to certain terms and conditions, LICENSOR hereby grants
to LICENSEE each of the licenses more fully defined in Section 2 below.

- 2 - 

		a) 	
      Non-transferable: The license granted by this
      Section 1 may not be transferred or sublicensed by LICENSEE without
      LICENSOR’s written consent. However, LICENSEE has the right to sublicense
      its license to any entity within the BIOLOG Group.

	 	 	 	 
		b) 	
      Other Products: The Parties agree that LICENSEE is
      not limited to production of the End Products defined herein, but that
      LICENSEE may develop, create and test new products that are derived from
      or otherwise incorporate the Technology and such new products are only to
      be distributed and/or sold to Permitted Locations (the “New Products”),
      subject to availability of licenses in the future from Lexaria.

	 	 	 	 
	2) 	
      Exclusive Licenses and License Option. LICENSEE
      will have the following rights to produce and sell the End Products for
      FIVE (5) years in the Territory, using the Technology licensed pursuant to
      this Agreement.

	 	 	 	 
		a) 	
      In the Territory From LICENSOR to LICENSEE:
      Exclusive rights from the Effective Date until five (5)
      years after the Effective Date, allowing LICENSEE the exclusive ability to
      continue to manufacture the End Products directly or through its Partner
      in the Permitted Locations within the Territory for the balance of the
      term of this Agreement as per Section 4. Exclusive under this Agreement
      means that LICENSOR will not permit any other entity to license the
      Technology for any Seasoning Stix product as defined within this Agreement
      (see “Definitions”). The term “Exclusive”, for the purposes of this
      subsection, means that LICENSOR will not offer its Technology to any brand
      within the Territory during the valid term of this License.

	 	 	 	 
		b) 	
      Labels and Advertising: It is a
      condition of the license granted to the LICENSEE, that, subject to
      applicable law, on the label of each End Product that uses the Technology
      shall be printed words to the effect, “Powered by Lexaria Bioscience” with
      a copy of the Lexaria pinwheel logo, in a type size large enough to be
      readable by persons with average vision. In return, LICENSOR agrees to
      spend 5% of all Usage Fees received from LICENSEE, into trade
      advertisements within the Territory utilizing the “Powered by Lexaria
      Bioscience” concept.

	 	 	 	 
	3) 	
      Rights and Obligations Related to the Technology.
      Except as expressly provided in this section or elsewhere in this
      Agreement, neither Party will be deemed by this Agreement to have been
      granted any license or other rights to the other Party’s products,
      information or other intellectual property rights, either expressly or by
      implication, estoppel or otherwise.

	 	 	 	 
		a) 	
      LICENSOR Intellectual Property: LICENSOR
      retains full, absolute, and complete rights to all processes covered or
      described in all of its issued patents and its patent applications filed
      prior to the date of this Agreement, and any future continuations,
      continuations in part or divisional applications filed thereto, including
      but not limited to the US Provisional patent applications, US Utility
      patent application, and the International patent application, that
      comprise the Technology (“Licensor IP”), unless LICENSOR allows
      these applications to abandon or lapse, or otherwise fails to protect the
      Technology. Except as expressly provided for in Section 2, nothing in this
      Agreement or in the conduct of the Parties shall be interpreted as
      preventing LICENSOR from granting to any other person a license for use of
      the Technology or from using the Technology in any manner
    whatsoever.

	 	 	 	 
		b) 	
      LICENSEE Intellectual Property: Any
      intellectual property resulting solely from LICENSEE’s work, know-how, or
      development that does not include nor rely upon the Technology,
      Licensor IP or jointly owned intellectual property, as described in this
      Agreement, shall be owned by LICENSEE (“Licensee IP”).

	 	 	 	 
		c) 	
      Improvements:

	 	 	 	 
			i) 	
      LICENSOR Improvements: The entire right and title to the
      Technology, whether or not patentable, and any patent applications or
      patents based thereon, which directly relate to and
are not severable from LICENSOR IP and which are improvements thereto by LICENSOR, its employees or others acting solely on LICENSOR's behalf shall be owned solely by LICENSOR ("Licensor Improvements").

- 3 - 

	 		ii) 	
      LICENSEE Improvements: Rights and title to improvements
      whether or not patentable, and any patent applications or patents based
      thereon, which directly relate to and are not severable from LICENSOR IP
      and which are improvements thereto by LICENSEE, its employees or its
      Partner, as defined by this Agreement, shall be owned by the LICENSEE
      (“Licensee Improvements”). In respect to such Licensee Improvements,
      LICENSOR grants LICENSEE a license to use the underlying intellectual
      property supporting any such improvement for so long as this Agreement
      remains in effect (including any renewal terms) and LICENSOR agrees to
      negotiate in good faith terms of license renewal after the end of the Term
      of this Agreement and any renewal terms per Section 4a. If LICENSEE
      develops any Licensee Improvements, LICENSEE will promptly provide
      LICENSOR with written notice of such Licensee Improvements to validate
      LICENSEE’S claim to Licensee Improvements. Following receipt of notice of
      such Licensee Improvements, LICENSOR shall have the exclusive option
      during the Term of this Agreement (and any renewal terms) to purchase or
      license from LICENSEE the Licensee Improvements for LICENSOR’s use upon
      mutually agreeable terms and conditions that the parties shall negotiate
      in good faith.

	 	 	 	 
	 		iii) 	
      Joint Improvements: Rights and title to the Technology,
      whether or not patentable, and any patent applications or patents based
      thereon, which directly relate to and are not severable from LICENSOR IP
      and which are improvements thereto by both LICENSOR AND LICENSEE shall be
      jointly owned intellectual property by LICENSOR AND LICENSEE.

	 	 	 	 
	 		iv) 	
      Improvements; Assignment. LICENSEE and LICENSOR
      hereby represent that all Partners, employees and other persons acting on
      its behalf in performing its obligations under this Agreement shall be
      obligated under a binding written agreement to assign, or as it shall
      direct, all Joint Improvements that include or rely on the Technology
      conceived or reduced to practice by such Partners, employees or other
      persons acting on its behalf in accordance with this Agreement to the
      benefit of LICENSOR and LICENSEE.

	 	 	 	 
	 		v) 	
      Improvements; Confidential Information. All
      Improvements shall constitute Confidential Information and shall be
      subject to the confidentiality provisions set forth in this
    Agreement.

	 	 	 	 
	 	d) 	
      Inventions; Reporting:

	 	 	 	 
	 		i) 	
      Upon making any invention that does not include or
      rely upon the Technology LICENSEE has no obligation to share such
      information of invention with LICENSOR nor inform LICENSOR of said
      invention, and LICENSEE retains unrestricted rights and ability to use,
      assign, license, seek patent and other forms of intellectual property
      protection related to said invention. For the avoidance of doubt, any such
      new invention, development, technology, and/or intellectual property
      belongs solely to LICENSEE. Upon making any invention that does or does
      NOT include or rely upon the Technology, LICENSOR has no obligation to
      share such information of invention with LICENSEE nor inform LICENSEE of
      said invention, and LICENSOR retains unrestricted rights and ability to
      use, assign, license, seek patent and other forms of intellectual property
      protection related to said invention.

	 	 	 	 
	 	e) 	
      Jointly Owned Intellectual Property: If any
      patent applications are filed seeking to protect any Joint Improvements
      (“Jointly Owned IP”), each Party shall be named as joint
      inventors.

	 	 	 	 
	 		i) 	
      Prosecution and Maintenance of Jointly Owned
      Patents. The Parties shall cooperate to cause the filing of one or
      more patent applications covering any such Jointly Owned IP. The Parties
      will mutually agree upon which of them shall be responsible for filing,
      prosecution and maintenance of Jointly Owned IP. The expenses of such
      filing, prosecution and maintenance shall be equally shared by the Parties
      unless one of the Parties assigns all of its rights to the other Party.
      Both Parties agree to assist the other Party in enforcing its rights in
      the Jointly Owned IP. The costs of any such assistance or cooperation will
      be borne by the requesting party.

- 4 - 

			
      ii) 
	
      Jointly Owned IP Rights. LICENSOR grants to
      LICENSEE an exclusive, non-sub-licensable, fully-paid, royalty-free,
      perpetual license to any Jointly Owned IP. Further, LICENSEE grants to
      LICENSOR an exclusive, non-sub-licensable, fully-paid, royalty-free,
      perpetual license to any Jointly Owned IP.

	 	 	 	 
		f) 	
      Quality Control.

	 	 	 	 
			i) 	
      LICENSEE agrees to maintain and preserve the quality of
      the Technology, and to use the Technology in good faith and in a manner
      consistent with the uses approved herein.

	 	 	 	 
			ii) 	
      LICENSEE shall (a) ensure that all End Products and
      related materials under the Technology are developed, tested, promoted,
      manufactured and distributed in a professional manner in compliance with
      all generally accepted industry standards, and (b) comply in all material
      respects with any and all laws, rules and regulations that are applicable
      to the development, testing, promotion, manufacture and distribution of
      the End Products and such related materials.

	 	 	 	 
	4) 	
      Term and Termination.

	 	 	 	 
		a) 	
      Term and Renewal. This Agreement shall take effect
      upon signing by both Parties, and shall remain in effect for the shorter
      of either five (5) years; or, such circumstances as described in Section
      4.c. At any time after the fourth anniversary, this Agreement may be
      renewed by LICENSEE for an additional five (5) years on terms to be
      negotiated in good faith based on market conditions at the time of renewal
      by the Parties.

	 	 	 	 
		b) 	
      Termination. This Agreement and the licenses
      granted hereunder may be terminated prior to the expiration of the initial
      term or any renewal term of this Agreement as follows:

	 	 	 	 
			i) 	
      This Agreement may be terminated by LICENSOR by written
      notice to LICENSEE upon the occurrence of any of the following: (i)
      failure of LICENSEE to pay any license fees for more than sixty (60) days
      after they become due; (ii) LICENSEE’s violation of the provisions of
      Sections 7 and 8 or LICENSEE’s material breach of any other term of this
      Agreement, which breach is not cured within sixty (60) days after written
      notice of such breach from LICENSOR; (iii) failure of LICENSEE to maintain
      all required licenses and governmental authorizations required for the
      conduct of its business or to comply in all material respects with
      applicable laws; or (iv)LICENSEE ceases operations, makes a general
      assignment for the benefit of creditors, or is the subject of a voluntary
      or involuntary bankruptcy, insolvency or similar proceeding.

	 	 	 	 
			ii) 	
      This Agreement may be terminated by LICENSEE by written
      notice to LICENSOR in the event of material breach by LICENSOR of its
      obligations or representations and warranties under this Agreement, which
      breach is not cured within sixty (60) days after written notice of such
      breach from LICENSEE.

	 	 	 	 
		c) 	
      Effect of Termination. Except as provided for in
      Section 5, LICENSEE’s payment obligations shall extinguish if this
      Agreement is terminated. If the Agreement expires without any renewal
      thereof, then LICENSEE must immediately cease and desist all utilization
      of the Technology to manufacture, distribute or sell End Products, except
      that it may distribute and sell End Products until all finished goods and
      raw materials inventory that pertains to the Technology has been sold. In
      any event, upon the natural future expiration of all pending and issued
      patents as applicable related to the Technology described herein the
      License Agreement shall expire and LICENSEE shall have no further payment
      obligations to LICENSOR.

	 	 	 	 
	5) 	
      Indemnification.

	 	 	 	 
		a) 	
      LICENSEE agrees to indemnify LICENSOR and hold LICENSOR
      harmless from and against any and all liabilities, losses and expenses
      arising from (i) LICENSEE’s unauthorized use of the Technology; (ii)
      LICENSEE’s failure to comply with applicable laws or to maintain all
required licenses and governmental authorizations; (iii) any breach of LICENSEE's representations and warranties set forth herein; and (iv) any liability to third parties as a result of LICENSEE's production, distribution and/or sale of End Products, except as to any liability arising out of the proper use of the Technology.

- 5 - 

		b) 	
      LICENSOR agrees to indemnify LICENSEE and hold LICENSEE
      harmless from and against any and all liabilities, losses and expenses
      arising from (i) any breach of LICENSOR’s representations and warranties
      set forth herein; and (ii) any claims of infringement raised by third
      parties as to the Technology or Licensed Patents.

	 	 	 
	6) 	
      Confidentiality. In addition to the
      Confidentiality Agreement previously entered into by the Parties, at all
      times during the term of this Agreement (including any renewal term) and
      thereafter, LICENSEE will not use or disclose and will otherwise keep
      confidential any trade secrets or proprietary information, including, but
      not limited to the Technology and other intellectual property of LICENSOR
      (collectively, the “Confidential Information”) except to the extent
      required to perform its obligations under this Agreement. Without
      limitation of the foregoing, LICENSEE will hold the Confidential
      Information in confidence and will (a) exercise the same degree of care,
      but no less than a reasonable degree of care, to prevent its disclosure as
      LICENSEE would take to safeguard its own confidential or proprietary
      information, and (b) limit disclosure of Confidential Information,
      including any notes, extracts, analyses or materials that would disclose
      Confidential Information, solely to those of its employees who need to
      know the information for purposes of performing its obligations under this
      Agreement and who agree to keep such information confidential. Upon
      termination of this Agreement, LICENSEE shall immediately return all
      Confidential Information to LICENSOR and LICENSOR shall have the right to
      conduct an on- site audit of the LICENSEE within three (3) business days
      of termination to ensure compliance with the terms of this Agreement, at
      LICENSOR’S expense.

	 	 	 
		
      In addition to the Confidentiality Agreement previously
      entered into by the Parties, at all times during the term of this
      Agreement (including any renewal term) and thereafter, LICENOR will not
      use or disclose and will otherwise keep confidential any trade secrets or
      proprietary information and other intellectual property of LICENSEE
      (collectively, the “Confidential Information”) except to the extent
      required to perform its obligations under this Agreement. Without
      limitation of the foregoing, LICENSOR will hold the Confidential
      Information in confidence and will (a) exercise the same degree of care,
      but no less than a reasonable degree of care, to prevent its disclosure as
      LICENSOR would take to safeguard its own confidential or proprietary
      information, and (b) limit disclosure of Confidential Information,
      including any notes, extracts, analyses or materials that would disclose
      Confidential Information, solely to those of its employees who need to
      know the information for purposes of performing its obligations under this
      Agreement and who agree to keep such information confidential. Upon
      termination of this Agreement, LICENSEE shall immediately return all
      Confidential Information to LICENSEE within three (3) business days of
      termination to ensure compliance with the terms of this Agreement, at
      LICENSEE’S expense.

	 	 	 
		a) 	
      Limitations. This section does not apply to any
      information that: (a) is already lawfully in the receiving Party's
      possession (unless received pursuant to a nondisclosure agreement); (b) is
      or becomes generally available to the public through no fault of the
      receiving Party; (c) is disclosed to the receiving Party by a third party
      who may transfer or disclose such information without restriction; (d) is
      required to be disclosed by the receiving Party as a matter of law
      (provided that the receiving Party will use all reasonable efforts to
      provide the disclosing Party with prior notice of such disclosure and to
      obtain a protective order therefor, with all costs to be borne by the
      disclosing Party); (e) is disclosed by the receiving Party with the
      disclosing Party's approval; or (f) is independently developed by the
      receiving Party without any use of confidential information. In all cases,
      the receiving Party will use all reasonable efforts to give the disclosing
      Party ten (10) days' prior written notice of any disclosure of information
      under this Agreement. The Parties will
maintain the confidentiality of all confidential and proprietary information learned pursuant to this Agreement for a period of ten (10) years from the date of termination of this Agreement.

- 6 - 

		b) 	
      Saving Provision. The Parties agree and stipulate
      that the agreements contained in this Section are fair and reasonable in
      light of all of the facts and circumstances of their relationship;
      however, the Parties are aware that in certain circumstances courts have
      refused to enforce certain agreements. Therefore, in furtherance of and
      not in derogation of the provisions of the preceding paragraph the parties
      agree that in the event a court should decline to enforce the provisions
      of the preceding paragraph, that paragraph shall be deemed to be modified
      to restrict non-enforcing Party’s rights under this Agreement to the
      maximum extent, in both time and geography, which the court shall find
      enforceable.

	 	 	 
	7) 	
      Limitation of Liability. EXCEPT TO THE EXTENT
      OTHERWISE EXPRESSLY AGREED TO IN THIS AGREEMENT, NEITHER PARTY SHALL BE
      LIABLE TO THE OTHER PARTY FOR LOST PROFITS OR FOR ANY DIRECT, INDIRECT,
      INCIDENTAL, CONSEQUENTIAL, SPECIAL, PUNITIVE OR EXEMPLARY DAMAGES IN
      CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS
      AGREEMENT, HOWEVER CAUSED, UNDER ANY THEORY OF LIABILITY. THE FOREGOING
      SHALL NOT LIMIT LICENSEE’S LIABILITY FOR UNAUTHORIZED USE BY LICENSEE OF
      LICENSOR’S TECHNOLOGY.

	 	 	 
	8) 	
      No Warranties. OTHER THAN THE EXPRESS WARRANTIES
      PROVIDED HEREIN,

	 	 	 
		
      LICENSOR MAKES NO EXPRESS WARRANTIES OF MERCHANTABILITY
      OR FITNESS OR EFFICACY FOR A PARTICULAR PURPOSE OF THE TECHNOLOGY AND/OR
      ANY END PRODUCTS PRODUCED FROM SAID TECHNOLOGY AND SHALL NOT BE HELD
      LIABLE FOR PROFITABILITY OF TECHNOLOGY AND/OR END PRODUCTS OR HELD LIABLE
      UNDER ANY OTHER THEORY OF LIABILITY.

     NOW, THEREFORE, in consideration
of the premises and the mutual promises and conditions hereinafter set forth,
and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the Parties, do hereby agree. 

     IN WITNESS WHEREOF, Lexaria
Bioscience Corp has granted this license. 

“LICENSOR” 
LEXARIA BIOSCIENCE CORP. 

     /s/ Chris Bunka, CEO

EXHIBIT “A” 

TECHNOLOGY 

The Technology consists of: 

(1) the following patent applications,
patents granted, and PCT International Patent Applications; 
(2) all
technical know-how and trade secrets in regard to such named patents, including
the use, manufacture or formulation thereof, that is owned or controlled by
LICENSOR as of the Effective Date of this Agreement, as well as any future
continuations, continuations in part or divisional applications filed pursuant
to the patent applications. (the “Licensed Patents”): 

U.S. Patent Granted No. 9,474,725 awarded October 27, 2016.

U.S. Patent Granted No. 9,839,612 B2 awarded December 12, 2017

U.S. Provisional Patent Application No. 62/010,601. 

U.S. Provisional Patent Application No. 62/037,706. 

U.S. Provisional Patent Application No. 62/153,835. 

U.S. Provisional Patent Application No. 62/161,324. 

U.S. Provisional Patent Application No. 15/225,802. 

U.S. Provisional Patent Application No. 62/264,959. 

U.S. Provisional Patent Application No. 62/264,967. 

U.S. Utility Patent Application No. 14/735,844. 

PCT International Patent Application No. PCT/US15/35128. 

PCT International Patent Application No. PCT/US16/64295. 

PCT International Patent Application No. PCT/US16/64296. 

National filings thereunder: 
2949369, 
201580031524.X,

15806768.6, 
201647041745.00 
516371405 

Australian Patent Granted No. 2015274698 awarded June 15, 2017

EXHIBIT “B” 

END PRODUCTS 

At LICENSEE’S option, any one or more of: 

	Product Line
      Name 	Product Line Description 
	Product lines known as Seasoning Stix, Seasoning Stixs,
      CannaStix, CannaSticks, and derivative products with similar
      functionality. 	Any product that is a manufactured solid tube,
      sphere, ribbon, pellet, rod, or other shape, used for seasoning, flavoring
      or infusion of cannabis or cannabis containing substances and/or vitamins
      into foods and beverages. that is infused with cannabis and/or hemp oil
      and/or with vitaminsExhibit 101

		

			Exhibit 10.1

		

		
			ATRICURE, INC.
2014 STOCK INCENTIVE PLAN 
		

		
			PERFORMANCE SHARE AWARD AGREEMENT 
		

		
			Summary of Performance Share Award Grant 
		

		
			AtriCure, Inc., a Delaware corporation (the “Company”), grants to the Grantee named below, in accordance with the terms of the 2014 Stock Incentive Plan  (as amended and restated from time to time, the “Plan”), and this Performance Share Award Agreement (the “Agreement”), Performance Shares as follows: 
		

		
			 
		

			
					
						﻿

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						Name of Grantee:

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						﻿

					
						Threshold Number of Performance Shares:

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						﻿

					
						Target Number of Performance Shares:

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						Maximum Number of Performance Shares:

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						Grant Date:

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						Performance Goals:

					
					
						 

					
					
						As set forth on Exhibit A

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						Performance Period:

					
					
						 

					
					
						As set forth on Exhibit A

					
					
						 

					
					
						 

				

		
			﻿
		

		
			Terms of Agreement 
		

			
	
			
				 1.
			Grant of Performance Shares. Subject to and upon the terms, conditions, and restrictions set forth in this Agreement and in the Plan, the Company grants to the Grantee as of the Grant Date, Performance Share Award consisting of, the maximum number Common Stock of the Company (“Performance Shares”) as provided above, upon the terms and conditions of this Agreement. 

			
	
			
				 2.
			Eligibility. The Grantee shall hold a position within the Company or any Subsidiary that is recommended by the Company’s Chief Executive Officer and/or the award contemplated hereby shall be approved by the Committee. 

			
	
			
				 3.
			Vesting and Earning of Performance Shares. 

		 

 

		

			 

		

			
	
			
				 (a)
			The period during which the Performance Goals are measured shall be a three-year period, beginning in the year of the Grant Date and ending on December 31 of the third year (the “Performance Period”). 

			
	
			
				 (b)
			The number of Performance Shares earned by the Grantee will be determined at the end of the Performance Period based on the Performance Goals set forth on Exhibit A.  Except as provided in Section 4, Performance Shares will vest and become nonforfeitable, if at all, on the last day of the Performance Period  provided that the Grantee has remained continuously employed by the Company or any Subsidiary from the Grant Date through the last day of the Performance Period (the “Vesting Date”).   

			
	
			
				 (c)
			If the Grantee is hired by the Company or promoted within the Company prior to October 1 of any fiscal year and is thereby granted Performance Shares under this Agreement, the Performance Shares shall be earned on a pro-rata basis beginning on the effective date of this Agreement until the end of the Performance Period as set forth on Exhibit A.

			
	
			
				 (d)
			Following the completion of the Performance Period and no later than 90 days following the end of the Performance Period, the Committee shall determine in writing the extent, if any, that the Performance Goals have been satisfied and shall determine the number of Performance Shares that Grantee shall earn, if any, subject to Section 3.(a) of this Agreement. The Committee may in its sole discretion modify the Performance Goals, in whole or in part, as the Committee deems appropriate and equitable to reflect a change in the business, operations, corporate structure or capital structure of the Company or its Subsidiaries, the manner in which it conducts its business, or other events or circumstances. 

			
	
			
				 4.
			Termination of Continuous Employment.  

			
	
			
				 (a)
			Except as otherwise provided in Sections 4(b), 4(c) or 4(d) or as otherwise provided by the Committee, if the Grantee’s continuous employment with the Company or a Subsidiary prior to the Vesting Date, the Grantee’s invested Performance Shares shall be automatically forfeited upon such termination of continuous employment and neither the Company nor any Subsidiary shall have any further obligations under this Agreement.

			
	
			
				 (b)
			If  the Grantee’s continuous employment with the Company or any Subsidiary terminates for Cause (as defined in the Plan), all Shares underlying the Performance Shares  (including unearned portions thereof), whether vested or not, shall immediately be forfeited upon such termination for Cause.

			
	
			
				 (c)
			If the Grantee’s continuous employment with the Company or any Subsidiary terminates due to a permanent and total disability (a “Permanent Disability”) within the meaning of Section 22(e)(3) of the Code, the Grantee’s employment with the Company or any Subsidiary shall, for all purposes under this Agreement, be deemed to continue. If Grantee dies while suffering a Permanent Disability, Grantee’s estate shall have the rights to Shares underlying Performance Shares on the terms set forth in Section 4(d). 

			
	
			
				 (d)
			If a “Change in Control” (as defined in the Plan) described in Section 2(i) of the Plan occurs while the Grantee is employed by the Company or any Subsidiary or if the Grantee dies, in either case at any time prior to the end of the Performance Period, then the Grantee 
		

		 

		

			2

		

		

			 

		

 

		

			 

		

			shall be deemed to have earned 100% of the Target Number of Performance Shares, and the Company shall, upon such Change in Control or death, deliver to Grantee (or Grantee’s estate in the case of death) the Shares underlying all earned Performance Shares. 

			
	
			
				 (e)
			Notwithstanding anything contained in this Agreement to the contrary, the Committee may, in its sole discretion, accelerate the time at which the Shares underlying any Performance Shares become vested and nonforfeitable on such terms and conditions as it deems appropriate upon a Change in Control or the death or Disability of Grantee.  

			
	
			
				 5.
			Transferability. The Performance Shares may not be Transferred and shall not be subject in any manner to assignment, alienation, pledge, encumbrance or charge, unless otherwise provided under the Plan. Any purported Transfer or encumbrance in violation of the provisions of this Section 5 shall be void, and the other party to any such purported transaction shall not obtain any rights to or interest in such Performance Shares. 

			
	
			
				 6.
			Dividend, Voting and Other Rights. Neither the Grantee nor any person claiming under or through the Grantee has any of the rights or privileges of a shareholder of the Company in respect of shares of Common Stock that may become deliverable hereunder unless and until certificates representing such shares of Common Stock have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered in certificate or book entry form to the Grantee or any person claiming under or through the Grantee. 

			
	
			
				 7.
			Continuous Employment. For purposes of this Agreement, the continuous employment of the Grantee with the Company and its Subsidiaries shall not be deemed to have been interrupted, and the Grantee shall not be deemed to have ceased to be an employee of the Company and its Subsidiaries, by reason of the transfer of his employment among the Company and its Subsidiaries. 

			
	
			
				 8.
			No Employment Contract. Nothing contained in this Agreement shall confer upon the Grantee any right with respect to continuance of employment by the Company and its Subsidiaries, nor limit or affect in any manner the right of the Company and its Subsidiaries to terminate the employment or adjust the compensation of the Grantee. 

			
	
			
				 9.
			Relation to Other Benefits. Any economic or other benefit to the Grantee under this Agreement or the Plan shall not be taken into account in determining any benefits to which the Grantee may be entitled under any profit-sharing, retirement or other benefit or compensation plan maintained by the Company or a Subsidiary and shall not affect the amount of any life insurance coverage available to any beneficiary under any life insurance plan covering employees of the Company or a Subsidiary. 

			
	
			
				 10.
			Taxes and Withholding. To the extent that the Company or any Subsidiary is required to withhold any federal, state, local, foreign or other tax in connection with the Performance Shares pursuant to this Agreement, it shall be a condition to earning the award that the Grantee make arrangements satisfactory to the Company or such Subsidiary for payment of such taxes required to be withheld. The Committee may, in its sole discretion, require the Grantee to satisfy such required withholding obligation by surrendering to the Company a portion of the Shares earned by the Grantee under this Agreement, and the Shares so surrendered by the Grantee 
		

		 

		

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			shall be credited against any such withholding obligation at the Fair Market Value of such Shares on the date of surrender. 

			
	
			
				 11.
			Adjustments. The number and kind of Shares deliverable pursuant to the Performance Shares are subject to adjustment as provided in Section 13 of the Plan. 

			
	
			
				 12.
			Compliance with Law. The Company shall make reasonable efforts to comply with all applicable federal and state securities laws and listing requirements with respect to the Performance Shares; provided,  however, notwithstanding any other provision of this Agreement, the Company shall not be obligated to deliver any Shares pursuant to this Agreement if the delivery of this Agreement would result in a violation of any such law or listing requirement. 

			
	
			
				 13.
			Amendments. Subject to the terms of the Plan, the Committee may modify this Agreement upon written notice to the Grantee. Any amendment to the Plan shall be deemed to be an amendment to this Agreement to the extent that the amendment is applicable to this Agreement. Notwithstanding the foregoing, no amendment of the Plan or this Agreement shall adversely affect the rights of the Grantee under this Agreement without the Grantee’s consent unless the Committee determines, in good faith, that such amendment is required for the Agreement to either be exempt from the application of, or comply with, the requirements of Section 409A of the Code, or as otherwise may provided in the Plan. 

			
	
			
				 14.
			Compliance with Section 409A of the Code. It is intended that this Agreement shall either be exempt from the application of, or comply with, the requirements of Section 409A of the Code. This Agreement shall be construed, administered, and governed in a manner that effects such intent, and the Committee shall not take any action that would be inconsistent with such intent. Without limiting the foregoing, the Performance Shares shall not be deferred, accelerated, extended, paid out, settled, adjusted, substituted, exchanged or modified in a manner  that would cause the award to fail to satisfy the conditions of an applicable exception from the requirements of Section 409A of the Code or otherwise would subject the Grantee to the additional tax imposed under Section 409A of the Code. The amounts payable pursuant to this Agreement are intended to be separate payments that qualify for the “short-term deferral” exception to Section 409A of the Code to the maximum extent possible. 

			
	
			
				 15.
			Severability. In the event that one or more of the provisions of this Agreement shall be invalidated for any reason by a court of competent jurisdiction, any provision so invalidated shall be deemed to be separable from the other provisions of this Agreement, and the remaining provisions of this Agreement shall continue to be valid and fully enforceable. 

			
	
			
				 16.
			Relation to Plan. This Agreement is subject to the terms and conditions of the Plan. This Agreement and the Plan contain the entire agreement and understanding of the parties with respect to the subject matter contained in this Agreement, and supersede all prior written or oral communications, representations and negotiations with respect to this Agreement. In the event of any inconsistency between the provisions of this Agreement and the Plan, the Plan shall govern. Capitalized terms used of this Agreement without definition shall have the meanings assigned to them in the Plan. The Committee acting pursuant to the Plan, as constituted from time to time, shall, except as expressly provided otherwise of this Agreement, have the right to determine any questions which arise in connection with the grant of the Performance Shares. 

		 

		

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				 17.
			Successors and Assigns. Without limiting Section 5, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the successors, administrators, heirs, legal representatives and assigns of the Grantee, and the successors and assigns of the Company. 

			
	
			
				 18.
			Governing Law. The interpretation, performance, and enforcement of this Agreement shall be governed by the laws of the State of Delaware, without giving effect to the principles of conflict of laws of this Agreement. 

			
	
			
				 19.
			Electronic Delivery. The Grantee consents and agrees to electronic delivery of any documents that the Company may elect to deliver (including, but not limited to, prospectuses, prospectus supplements, grant or award notifications and agreements, account statements, annual and quarterly reports, and all other forms of communications) in connection with this and any other award made or offered under the Plan. The Grantee understands that, unless earlier revoked by the Grantee by giving written notice to the Chief Financial Officer of the Company, this consent shall be effective for the duration of the Agreement. The Grantee also understands that he or she shall have the right at any time to request that the Company deliver written copies of any and all materials referred to above at no charge. The Grantee consents to any and all procedures the Company has established or may establish for an electronic signature system for delivery and acceptance of any such documents that the Company may elect to deliver, and agrees that his or her electronic signature is the same as, and shall have the same force and effect as, his or her manual signature. The Grantee consents and agrees that any such procedures and delivery may be effected by a third party engaged by the Company to provide administrative services related to the Plan. 

			
	
			
				 20.
			Clawback. In the event the Company is required to prepare an accounting restatement due to the material noncompliance of the Company with any financial reporting requirement under federal securities laws, the Board of Directors shall require reimbursement to the Company of any Performance Shares made to Grantee where: (i) the payment was predicated upon achieving certain financial results that were subsequently the subject of a substantial restatement of Company financial statements filed with the SEC; (ii) the members of the Board of Directors who are considered “independent” for purposes of the listing standards of Nasdaq determine Grantee engaged in intentional misconduct that caused or substantially caused the need for the accounting restatement; and (iii) a lower payment would have been made to Grantee based upon the restated financial results. In each such instance, the Company will, to the extent practicable, seek to recover from Grantee the amount by which any Performance Shares paid to such officer for the relevant period exceeded the lower payment that would have been made based on the restated financial results. 

		
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			5

		

		

			 

		

 

		

			 

		

		The Company has caused this Agreement to be executed on its behalf by its duly authorized officer and the Grantee has also executed this Agreement, as of the Grant Date. 
		

		
			 
		

		
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						ATRICURE, INC.

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						By:

					
					
						 

				
	
					
						﻿

					
					
						Name:

					
					
						 

				
	
					
						﻿

					
					
						Title:

					
					
						 

				

		
			﻿
		

		
			The undersigned acknowledges that a copy of the Plan, Plan Summary and Prospectus, and the Company’s most recent Annual Report and Proxy Statement (the “Prospectus Information”) are available for viewing on the Company’s intranet site at www.atricure.com. The Grantee consents to receiving this Prospectus Information electronically, or, in the alternative, agrees to contact the Company’s Chief Financial Officer at (513) 755-4100 to request a paper copy of the Prospectus Information at no charge. The Grantee represents that he or she is familiar with the terms and provisions of the Prospectus Information and accepts the award of Performance Shares on the terms and conditions set forth of this Agreement and in the Plan. 
		

		
			﻿
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						Grantee

					
					
						 

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						Date:

					
					
						 

				

		
			﻿
		

		
			ALTERNATIVE FOR ELECTRONIC SIGNATURE 
		

		
			You may accept the award online or by telephone in accordance with the procedures established by the Company and the Plan administrator. By accepting your award in accordance with these procedures, you acknowledge that a copy of the Plan, Plan Summary and Prospectus, and the Company’s most recent Annual Report and Proxy Statement (the “Prospectus Information”) either have been received by you or are available for viewing on the Company’s intranet site at www.atricure.com, and consent to receiving this Prospectus Information electronically, or, in the alternative, agree to contact the Company’s Chief Financial Officer at (513) 755-4100 to request a paper copy of the Prospectus Information at no charge. You also represent that you are familiar with the terms and provisions of the Prospectus Information and accept the award on the terms and conditions set forth of this Agreement and in the Plan. These terms and conditions constitute a legal contract that will bind both you and the Company as soon as you accept the award as described above. 
		

		
			 
		

		
			 
		

		

		

		 

		

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			EXHIBIT A 
		

		
			PERFORMANCE GOALS AND PERFORMANCE PERIOD 
		

		
			Performance Period: Three-Year Period, Ending on December 31,  
		

		
			 
		

			
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						Performance Goal:

					
					
						  

					
					
						Revenue CAGR

					
						Threshold: 8%

					
						Target: 10%

					
						Maximum: 16%

				

		
			﻿
		

		
			If, for the Performance Period, the Company achieves the Threshold Performance Goal set forth above, Grantee shall be entitled to                      Performance Shares (50% of the Target Value of Performance Shares).  
		

		
			If, for the Performance Period, the Company achieves the Target Performance Goal set forth above, Grantee shall be entitled to                      Performance Shares (100% of the Target Value of Performance Shares).
		

		
			If, for the Performance Period, the Company achieves the Maximum Performance Goal set forth above, Grantee shall be entitled to                      Performance Shares (200% of the Target Value of Performance Shares).
		

		
			If, for the Performance Period, the Grantee fails to achieve the Threshold Performance Goal set forth above, then Grantee’s right to earn Performance Shares for the Performance Period shall be forfeited automatically without further action or notice. 
		

		
			To the extent the actual level of attainment of the Performance Goal is at a point between the Threshold Performance Goal and Target Performance Goal or between Target Performance Goal and Maximum Performance Goal, the maximum number of Performance Shares in which the Grantee can vest shall be determined based on a straight-line interpolation.
		

		
			The maximum number of Performance Shares in which the Grantee can vest on the basis of the actual level of Performance Goal attainment shall in no event exceed in the aggregate 200% of the number of Performance Shares set forth above.
		

		
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			A-1

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