Document:

Form of Non-Qualified Stock Option Agreement

 Exhibit 10.2 
 MATERIAL SCIENCES CORPORATION 
 NON-QUALIFIED STOCK OPTION AGREEMENT 
 UNDER THE 1992 OMNIBUS 
 STOCK AWARDS
PLAN FOR KEY EMPLOYEES 
 THIS NONQUALIFIED STOCK OPTION AGREEMENT (this “Agreement”) is dated as of
                     (“Grant Date”) between Material Sciences Corporation, a Delaware corporation (the
“Company”), and                      (“Employee”) and is entered into pursuant to the 1992 Omnibus Stock
Awards Plan for Key Employees, as in effect on the date hereof (the “Plan”). 
 1. Option Grant. Subject to the terms and conditions
set forth in the Plan and this Agreement, the Company hereby grants to the Employee the right to purchase (the “Option”) from the Company [            ] shares (the
“Option Shares”) of the Company’s common stock, $.02 par value (the “Common Stock”) at an exercise price per share equal to the greater of (a) $12.75 or (b) the Fair Market Value (as defined herein) on the
Grant Date (the “Option Price”), to be exercisable at the times and on the terms and subject to the conditions set forth herein. The Option shall be null and void unless the Employee executes this Agreement and returns it to the
Secretary of the Company at its office in Elk Grove Village, Illinois within thirty (30) days of receipt by the Employee. The Option will expire on the fifth anniversary of the date of this Agreement (the “Final Expiration
Date”), unless terminated earlier as provided under paragraphs 3 or 4. The Option is not intended to be an “incentive stock option” within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the
“Code”). For purposes hereof, “Fair Market Value” means the last reported sale price of Common Stock on the principal securities exchange on which shares of the Common Stock are then listed. 
 2. Vesting and Exercise. The Option shall be exercisable only to the extent vested in accordance with this paragraph 2. Subject to paragraphs 5 and 9 and the
following sentence, the Option shall become vested on the third (3rd) anniversary of the Grant Date, provided
that Employee is continuously in Employment by the Company (as defined herein) from the Grant Date until the third anniversary of the Grant Date. 
 Notwithstanding anything to the contrary contained in this paragraph 2, upon the occurrence of a Vesting Event (as defined herein) and subject to paragraph 9 hereof, the Option shall become vested as to a number of Option Shares (rounded to
the nearest whole share) equal to the product of (A) the total number of Option Shares, multiplied by (B) a fraction, (y) the numerator of which equals the number of whole or partial calendar months which have elapsed from the Grant
Date, and (z) the denominator of which is 36. A “Vesting Event” means a Sale of the Company (as defined herein) or the termination of Employee’s Employment by the Company due to death, Permanent Disability (as defined
herein), Retirement (as defined herein) or termination by the Company without Cause (as defined herein). 
 For purposes hereof,
“Sale of the Company” means any transaction or series of transactions pursuant to which any person(s) or entity(ies) in the aggregate acquire(s) (i) capital stock of the Company possessing the voting power (other than voting
rights accruing only in the event of a default, breach or event of noncompliance) to elect a majority of the Company’s Board of Directors (whether by merger, consolidation, reorganization, combination, sale or 

 transfer of the Company’s capital stock, shareholder or voting agreement, proxy, power of attorney or otherwise) or
(ii) all or substantially all of the Company’s assets determined on a consolidated basis. 
 For purposes hereof, the term
“Cause”, with respect to the termination of Employee’s Employment by the Company, means (i) the willful and continued failure by Employee to perform substantially Employee’s duties to the Company (other than any such
failure resulting from Employee’s Permanent Disability) within a reasonable period of time after a written demand for a substantial performance is delivered to Employee by the Company which demand specifically identifies the manner in which the
Company believes that Employee has not substantially performed Employee’s duties; or (ii) the willful misconduct by Employee in the performance of Employee’s duties to the Company or the willful engaging by Employee in conduct which,
in either case, is illegal or materially injurious to the Company monetarily or otherwise. 
 For purposes hereof, (i) cessation of
employment as a result of “Retirement” shall mean cessation of employment after the Employee has attained the age of sixty-five (65) other than a termination of Employee’s Employment by the Company for Cause and
(ii) cessation of employment as a result of “Permanent Disability” shall mean cessation of employment with respect to which Employee is entitled to benefits under any of the Company’s or an Affiliate’s (as defined
herein) permanent disability programs, as applicable. 
 Any portion of the Option that is not, or shall not have become, vested as of the
termination of Employee’s Employment by the Company, shall be forfeited to the Company effective on the termination date of Employee’s Employment by the Company. Any portion of the Option that is or shall have become vested as of the
termination of Employee’s Employment by the Company, shall be exercisable in accordance with the applicable terms of this Agreement. 
 Subject to the foregoing, the Option shall be exercisable, and Employee shall have the right to purchase the Option Shares, from time to time and in whole or in part, only if Employee is in Employment by the Company on the exercise date,
except as provided under paragraphs 3 and 4. 
 3. Cessation of Employment. Subject to this paragraph 3, the Option shall expire and permanently
terminate upon, and shall not be exercisable or exercised after, the cessation of Employee’s Employment by the Company for any reason other than a cessation of employment due to death, Permanent Disability, Retirement or termination by the
Company of Employee’s employment without Cause. For greater certainty, any leave of absence for periods and purposes conforming to the personnel policies of the Company shall not be deemed cessation of employment or an interruption of
continuous service. Upon a cessation of employment described in this paragraph 3, then except as specifically set forth in paragraph 4, Employee may exercise the Option until the earlier to occur of (i) the thirtieth (30th) day after the effective date of cessation of employment or (ii) the Final Expiration Date. 
 4. Death, Disability, Retirement, Termination of Employment Without Cause. If Employee (i) dies while in Employment by the Company; (ii) incurs a
Permanent Disability while in Employment by the Company, (iii) terminates his employment as a result of Retirement or (iv)
  

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 has his employment terminated by the Company without Cause, the Option, to the extent vested, may be exercised until the
earlier to occur of (A) the third (3rd) anniversary of Employee’s death, Permanent Disability,
Retirement or termination without Cause, as applicable, and (B) the Final Expiration Date. 
 5. Method of Exercise and Payment. Subject to the
limitations herein set forth, Employee or Employee’s beneficiary, if applicable, may exercise the Option by delivery of written notice to the Secretary of the Company in Elk Grove Village, Illinois specifying the number of shares to be
purchased and payment of the Option Price, as described below; provided, however, that no fractional shares may be purchased hereunder at any time, and the Company shall not be obligated to make any payment in lieu of fractional
shares. Payment of the Option Price shall be made either (i) in cash or by check, bank draft or money order to the order of Material Sciences Corporation (collectively, “cash”), (ii) at the discretion of Employee and with
the consent of the Company’s Compensation, Organization and Corporate Governance Committee (the “Committee”), in shares of Common Stock held by the Employee for a minimum period of six (6) months (valued as of the date of
the notice of exercise) with a total value equal to or less than the aggregate Option Price, plus cash in the amount, if any, by which the aggregate Option Price exceeds the value of such shares of Common Stock or (iii) at the discretion of the
Committee, by delivery of a properly executed exercise notice together with such other documentation as the Committee and a qualified broker, if applicable, shall require to effect an exercise of the Option, and delivery to the Company of the sale
or loan proceeds required to pay the exercise price; provided, however, that this method of payment shall not be available to an “Executive Officer” (as defined in Rule 3b-7 of the Securities Exchange Act of 1934, as amended from time to
time, and any successor thereto) if it would constitute a loan by the Company to the Employee. 
 6. Tax Withholding. As a condition precedent to the
exercise of the Option, Employee shall, if requested by the Company, pay to the Company, in addition to the aggregate Option Price, such amount of cash as the Company may be required, under applicable federal, state or local law or regulations, to
withhold and pay over as income or other withholding taxes. 
 7. Delivery of Option Shares. Upon the exercise of the Option in whole or in part, the
Company shall deliver a certificate or certificates representing the number of shares of Common Stock purchased against full payment therefor in the manner set forth in paragraph 5 hereof, and the Company shall pay all original issue or transfer
taxes and all other fees and expenses incident to such delivery except as otherwise provided in paragraph 6 hereof. 
 8. Transferability. Neither the
Option, this Agreement nor any rights under this Agreement may be transferred other than by will or the laws of descent and distribution, and during Employee’s lifetime the Option shall be exercisable only by Employee or his or her legal
representative. Any other transfer or any attempted assignment, pledge or hypothecation, whether or not by operation of law, shall be void and shall nullify the Option. The Option shall not be subject to execution, attachment or other process, and
no person shall be entitled to exercise any rights of Employee under this Agreement or possess any rights under this Agreement by virtue of any attempted execution, attachment or other process. Notwithstanding the foregoing, the Option may be
transferred (i) by law or pursuant to the laws of descent and distribution and (ii) by the Employee to a “family member” of such Employee by gift or by domestic relations order. For purposes of this paragraph 8, “family
member” means any child, 
  

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 stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law,
father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, any person sharing the Employee’s household (other than as a tenant or employee), a trust in which these persons have more than
fifty percent of the beneficial interest, a foundation in which these persons (or the Employee) control the management of assets, and any other entity in which these persons (or the Employee) own more than fifty percent of the voting interests
(each, a “Permitted Transferee”). In the case of any transfer pursuant to this paragraph 8, this Agreement shall be interpreted such that the term “Employee” shall mean the transferring Employee and his or her
Permitted Transferees (it being agreed that all of the obligations of the Employee hereunder shall be allocated as appropriate between the transferring Employee and his or her Permitted Transferee). 
 9. Adjustments. Upon the occurrence of any of the following events, the Option shall be adjusted as follows: 
  

	 	(a)	in case the number of outstanding shares of Common Stock shall be increased by stock split, stock dividend, or other relevant change in the capitalization of the Company (which
shall not include the sale by the Company of shares of Common Stock or securities convertible into shares of Common Stock), the number of Option Shares which may thereafter be purchased under the Option shall be proportionately increased and the
Option Price shall be proportionately decreased; 

  

	 	(b)	in case the number of outstanding shares of Common Stock shall be decreased by reverse stock split, combination of shares, recapitalization or other relevant change in the
capitalization of the Company (which shall not include the purchase or retirement by the Company of shares of Common Stock or securities convertible into such shares of Common Stock), the number of Option Shares which may thereafter be purchased
hereunder shall be proportionately decreased and the Option Price shall be proportionately increased; and 

  

	 	(c)	in case the Company shall effect a merger, consolidation or other reorganization, pursuant to which the outstanding shares of Common Stock shall be exchanged for other shares or
securities of the Company or of another corporation which is a party to such merger, consolidation or other reorganization, the Company shall use its best efforts to provide in any agreement or plan which it enters into or adopts to effect any such
merger, consolidation or reorganization that Employee shall have the right to purchase, at the aggregate Option Price provided for in this Agreement and on the same terms and conditions, the kind and number of shares or other securities of the
Company or of such other corporation which would have been issuable to Employee in respect of the number of shares of Common Stock which were subject to the Option immediately prior to the effective date of such merger, consolidation or
reorganization if such shares of Common Stock had been then owned by him or her. The Company agrees to use its best efforts to insure that the appropriate provision for the preservation of Employee’s rights, as in this paragraph 9(c), will be
made in the agreement or plan pursuant to which such merger, consolidation or reorganization is consummated. 

  

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	 	(d)	Any adjustment pursuant to this paragraph 9 shall be effected in such manner that the difference between the aggregate fair market value of the shares or other securities subject to
this Option immediately after giving effect to such adjustment and the aggregate Option Price of such shares or other securities shall be substantially equal to (but shall not be more than) the difference between the aggregate fair market value of
the shares subject to this Option immediately prior to such adjustment and the aggregate Option Price of such shares. The decision of the Committee as to the exact manner, amount and timing of any such adjustment shall be conclusive.

  

	 	(e)	If the provision described in paragraphs (c) and (d) above has not been made with respect hereto by the date (the “Adjustment Date”) ten days prior to the
scheduled effective date of any such merger, consolidation or other reorganization, then the Employee shall become fully vested in the Option, provided that Employee is in Employment by the Company as of the Adjustment Date.

  

	 	(f)	In the event that the Company shall effect a merger, consolidation or other reorganization pursuant to which the outstanding shares of Common Stock shall be exchanged for cash or
upon the adoption of a plan of complete liquidation for the Company, then the Restrictions imposed by this Agreement shall thereupon lapse upon approval of such reorganization or plan of complete liquidation by the shareowners of the Company (the
“Approval Date”) and Employee shall become fully vested in the Option as of the Approval Date, provided that Employee is in Employment by the Company as of the Approval Date. 

 10. Registration. The Option and this Agreement is subject to the condition that if at any time the Committee shall determine, in its discretion, that the listing
of the Option Shares on any securities exchange, or the registration or qualification of the Option Shares under any federal or state law, or the consent or approval of any regulatory body, shall be necessary or desirable as a condition of, or in
connection with, the granting of this Option or the purchase or delivery of Option Shares, the Option may not be exercised, in whole or in part, and the Option Shares may not be delivered, as the case may be, unless and until such listing,
registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Committee. The Company agrees to make every reasonable effort to effect or obtain any such listing, registration,
qualification, consent or approval. 
 11. Reservation. The Company shall at all times prior to the expiration or termination of the Option reserve
and keep available, either in its treasury or out of its authorized but unissued shares of Common Stock, the full number of shares subject hereto from time to time. 
 12. Employment. As used in this Option, “Employment by the Company” shall mean employment by the Company or an Affiliate. An “Affiliate” means a corporation which is a
“parent corporation” or a “subsidiary corporation” of the Company, as such terms are defined in subsections (e) and (f) of Section 424 of the Code, and any corporation, or a “parent corporation” or
“subsidiary corporation” of such corporation, assuming this Option, or issuing a stock option in lieu thereof, in a transaction to which Section 424(a) of the Code shall apply. The term “subsidiary corporation” shall also
include partnerships, joint ventures, and limited liability companies of which the Company owns an interest of 50% or more. 
  

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 13. No Privileges. Employee shall not be entitled to any privileges of ownership with respect to the Option Shares
unless and until purchased and delivered upon the exercise in whole or in part of the Option. 
 14. Rights of Employee. In no event shall the
granting of the Option or the acceptance of this Agreement by Employee interfere with or limit in any way the right of the Company to terminate Employee’s employment at any time with or without cause, nor confer upon Employee any right to
continue in Employment by the Company for any period of time or to continue his or her present or any other rate of compensation. 
 15. Beneficiary
Designation. Subject to paragraph 8, Employee may name, from time to time, beneficiaries as provided in the Plan. 
 16. Committee Resolution. The
Committee shall have the right and discretion to resolve all questions which may arise in connection with the Option and with its exercise. 
 17.
Miscellaneous. 
  

	 	(a)	This Agreement shall be binding upon and inure to the benefit of any successor or successors of the Company and any person or persons who shall, upon the death of Employee, acquire
any rights hereunder. 

  

	 	(b)	The parties to this Agreement agree to execute such further instruments and to take such further actions as may reasonably be required to carry out the intent of this Agreement.

  

	 	(c)	Any notice required or permitted under this Agreement shall be given in writing and shall be deemed effectively given when personally delivered or five (5) business days after
deposit in the United States Post Office, by certified mail with postage and fees prepaid, return receipt requested. Notices shall be addressed, in the case of Employee, to the address set forth below his or her signature on the signature page
hereto and in the case of the Company, to it at its principal executive office, or at such other address as such party may designate by ten (10) days’ advance written notice to the other party. 

  

	 	(d)	This Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof. 

  

	 	(e)	This Agreement shall be governed by and construed under the internal laws (and not the laws of conflicts) of the State of Illinois. 

  

	 	(f)	The captions used herein are for convenience of reference only and shall not be considered in the interpretation of the provisions hereof. 

 * * * * * 
  

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 Dated as of the      day of June, 2006. 
  

			
	MATERIAL SCIENCES CORPORATION
		
	By:	 	  

		 	Clifford D. Nastas
	Its:	 	Chief Executive Officer

 Accepted as of this
                     day 
 of                     , 2006. 
  

			
	  

	Employee
		
	Address:	 	  

		 	  

		 	  

  

 - 7 -Form of Indemnification Agreement

 Exhibit 10.1 
 SENORX, INC. 
 INDEMNIFICATION AGREEMENT 
 THIS AGREEMENT is entered into, effective as of __________, 2006 by and between SenoRx, Inc., a Delaware corporation (the “Company”),
and __________ (“Indemnitee”), effective as of the date that the Registration Statement on Form S-1 related to the initial public offering of the Company’s Common Stock is declared effective by the United States Securities and
Exchange Commission. 
 WHEREAS, it is essential to the Company to retain and attract as directors and officers the most capable persons
available; 
 WHEREAS, Indemnitee is a director and/or officer of the Company; 
 WHEREAS, both the Company and Indemnitee recognize the increased risk of litigation and other claims currently being asserted against directors and
officers of corporations; 
 WHEREAS, the Certificate of Incorporation and Bylaws of the Company require the Company to indemnify and advance
expenses to its directors and officers to the fullest extent permitted under Delaware law, and the Indemnitee has been serving and continues to serve as a director and/or officer of the Company in part in reliance on the Company’s Certificate
of Incorporation and Bylaws; and 
 WHEREAS, in recognition of Indemnitee’s need for (i) substantial protection against personal
liability based on Indemnitee’s reliance on the aforesaid Certificate of Incorporation and Bylaws, (ii) specific contractual assurance that the protection promised by the Certificate of Incorporation and Bylaws will be available to
Indemnitee (regardless of, among other things, any amendment to or revocation of the Certificate of Incorporation and Bylaws or any change in the composition of the Company’s Board of Directors or acquisition transaction relating to the
Company) and (iii) an inducement to provide effective services to the Company as a director and/or officer, the Company wishes to provide in this Agreement for the indemnification of and the advancing of expenses to Indemnitee to the fullest
extent (whether partial or complete) permitted under Delaware law and as set forth in this Agreement, and, to the extent insurance is maintained, to provide for the continued coverage of Indemnitee under the Company’s directors’ and
officers’ liability insurance policies. 
 NOW, THEREFORE, in consideration of the above premises and of Indemnitee continuing to serve
the Company directly or, at its request, with another enterprise, and intending to be legally bound hereby, the parties agree as follows: 
 1. Certain Definitions: 
 (a) “Board” shall mean the Board of Directors of
the Company. 
 (b) “Affiliate” shall mean any corporation or other person or entity that directly, or
indirectly through one or more intermediaries, controls or is controlled by or is under 

 
common control with, the person specified, including, without limitation, with respect to the Company, any direct or indirect subsidiary of the Company.

 (c) A “Change in Control” shall be deemed to have occurred if (i) any “person” (as such
term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company or a
corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company, and other than any person holding shares of the Company on the date that the Company first
registers under the Act or any transferee of such individual if such transferee is a spouse or lineal descendant of the transferee or a trust for the benefit of the individual, his or her spouse or lineal descendants), is or becomes the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 30% or more of the total voting power represented by the Company’s then outstanding Voting
Securities, (ii) during any period of two consecutive years, individuals who at the beginning of such period constitute the Board and any new director whose election by the Board or nomination for election by the Company’s stockholders was
approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to
constitute a majority of the Board, (iii) the stockholders of the Company approve a merger or consolidation of the Company with any other entity, other than a merger or consolidation that would result in the Voting Securities of the Company
outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into Voting Securities of the surviving entity) at least 80% of the total voting power represented by the Voting Securities of the
Company or such surviving entity outstanding immediately after such merger or consolidation or (iv) the stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company
(in one transaction or a series of transactions) of all or substantially all of the Company’s assets. 
 (d)
“Expenses” shall mean any expense, liability or loss, including attorneys’ fees, judgments, fines, ERISA excise taxes and penalties, amounts paid or to be paid in settlement, any interest, assessments or other charges imposed
thereon, any federal, state, local or foreign taxes imposed as a result of the actual or deemed receipt of any payments under this Agreement and all other costs and obligations, paid or incurred in connection with investigating, defending, being a
witness in, participating in (including on appeal) or preparing for any of the foregoing in, any Proceeding relating to any Indemnifiable Event. 
 (e) “Indemnifiable Event” shall mean any event or occurrence that takes place either prior to or after the execution of this Agreement, related to the fact that Indemnitee is or was a director or
officer of the Company or an Affiliate of the Company, or while a director or officer is or was serving at the request of the Company or an Affiliate of the Company as a director, officer, employee, trustee, agent or fiduciary of
another foreign or domestic corporation, partnership, joint venture, employee benefit plan, trust or other enterprise or was a director, officer, employee or agent of a foreign or domestic corporation that was a predecessor corporation of the
Company or of another enterprise at the request of such predecessor corporation, or related to anything done or not done by Indemnitee in any such capacity, whether or not the basis of the Proceeding is alleged action 

  

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in an official capacity as a director, officer, employee or agent or in any other capacity while serving as a director, officer, employee or agent of the
Company or an Affiliate of the Company, as described above. 
 (f) “Independent Counsel” shall mean the
person or body appointed in connection with Section 3. 
 (g) “Proceeding” shall mean any threatened,
pending or completed action, suit or proceeding or any alternative dispute resolution mechanism (including an action by or in the right of the Company or an Affiliate of the Company) or any inquiry, hearing or investigation, whether conducted by the
Company or an Affiliate of the Company or any other party, that Indemnitee in good faith believes might lead to the institution of any such action, suit or proceeding, whether civil, criminal, administrative, investigative or other. 
 (h) “Reviewing Party” shall mean the person or body appointed in accordance with Section 3. 
 (i) “Voting Securities” shall mean any securities of the Company that vote generally in the election of directors.

 2. Agreement to Indemnify. 
 (a) General Agreement. In the event Indemnitee was, is or becomes a party to or witness or other participant in, or is threatened
to be made a party to or witness or other participant in, a Proceeding by reason of (or arising in part out of) an Indemnifiable Event, the Company shall indemnify Indemnitee from and against any and all Expenses to the fullest extent permitted by
law, as the same exists or may hereafter be amended or interpreted (but in the case of any such amendment or interpretation, only to the extent that such amendment or interpretation permits the Company to provide broader indemnification rights than
were permitted prior thereto). The parties hereto intend that this Agreement shall provide for indemnification in excess of that expressly permitted by statute, including, without limitation, any indemnification provided by the Company’s
Certificate of Incorporation, its Bylaws, vote of its stockholders or disinterested directors or applicable law. 
 (b)
Initiation of Proceeding. Notwithstanding anything in this Agreement to the contrary, Indemnitee shall not be entitled to indemnification pursuant to this Agreement in connection with any Proceeding initiated by Indemnitee against the Company
or any director or officer of the Company unless (i) the Company has joined in or the Board has consented to the initiation of such Proceeding, (ii) the Proceeding is one to enforce indemnification rights under Section 5 or
(iii) the Proceeding is instituted after a Change in Control (other than a Change in Control approved by a majority of the directors on the Board who were directors immediately prior to such Change in Control) and Independent Counsel has
approved its initiation. 
 (c) Expense Advances. If so requested by Indemnitee, the Company shall advance (within
thirty (30) days of such request) any and all Expenses to Indemnitee (an “Expense Advance”). The Indemnitee shall qualify for such Expense Advances upon the execution and 

  

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delivery to the Company of this Agreement which shall constitute an undertaking providing that the Indemnitee undertakes to repay such Expense Advances if
and to the extent that it is ultimately determined by a court of competent jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the Company. Indemnitee’s obligation to reimburse the
Company for Expense Advances shall be unsecured and no interest shall be charged thereon. This Section 2(c) shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 2(b) or 2(f). 
 (d) Mandatory Indemnification. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee has been
successful on the merits or otherwise in defense of any Proceeding relating in whole or in part to an Indemnifiable Event or in defense of any issue or matter therein, Indemnitee shall be indemnified against all Expenses incurred in connection
therewith. 
 (e) Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement to
indemnification by the Company for some or a portion of Expenses, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled. 
 (f) Prohibited Indemnification. No indemnification pursuant to this Agreement shall be paid by the Company on account of any
Proceeding in which a final judgment is rendered against Indemnitee or Indemnitee enters into a settlement, in each case (i) for an accounting of profits made from the purchase or sale by Indemnitee of securities of the Company pursuant to the
provisions of Section 16(b) of the Exchange Act or similar provisions of any federal, state or local laws; (ii) for which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision,
except with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision; or (iii) for which payment is prohibited by law. Notwithstanding anything to the contrary stated or implied in this
Section 2(f), indemnification pursuant to this Agreement relating to any Proceeding against Indemnitee for an accounting of profits made from the purchase or sale by Indemnitee of securities of the Company pursuant to the provisions of
Section 16(b) of the Exchange Act or similar provisions of any federal, state or local laws shall not be prohibited if Indemnitee ultimately establishes in any Proceeding that no recovery of such profits from Indemnitee is permitted under
Section 16(b) of the Exchange Act or similar provisions of any federal, state or local laws. 
 3. Reviewing
Party. Prior to any Change in Control, the Reviewing Party shall be any appropriate person or body consisting of a member or members of the Board or any other person or body appointed by the Board who is not a party to the particular Proceeding
with respect to which Indemnitee is seeking indemnification; provided that if all members of the Board are parties to the particular Proceeding with respect to which Indemnitee is seeking indemnification, the Independent Counsel referred to below
shall become the Reviewing Party; after a Change in Control, the Independent Counsel referred to below shall become the Reviewing Party. With respect to all matters arising before a Change in Control for which Independent Counsel shall be the
Reviewing Party and all matters arising after a Change in Control, in each case concerning the rights of Indemnitee to indemnity payments and Expense Advances under this Agreement or any other agreement or under applicable law or the Company’s
Certificate of Incorporation or Bylaws now or 

  

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hereafter in effect relating to indemnification for Indemnifiable Events, the Company shall seek legal advice only from Independent Counsel selected by
Indemnitee and approved by the Company (which approval shall not be unreasonably withheld or delayed), and who has not otherwise performed services for the Company or the Indemnitee (other than in connection with indemnification matters)
within the last five years. The Independent Counsel shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an
action to determine Indemnitee’s rights under this Agreement. Such counsel, among other things, shall render its written opinion to the Company and Indemnitee as to whether and to what extent the Indemnitee should be permitted to be indemnified
under applicable law. The Company agrees to pay the reasonable fees of the Independent Counsel and to indemnify fully such counsel against any and all expenses (including attorneys’ fees), claims, liabilities, loss and damages arising out of or
relating to this Agreement or the engagement of Independent Counsel pursuant hereto. 
 4. Indemnification Process and
Appeal. 
 (a) Indemnification Payment. Indemnitee shall be entitled to indemnification of Expenses, and shall
receive payment thereof, from the Company in accordance with this Agreement as soon as practicable after Indemnitee has made written demand on the Company for indemnification, but in no event later than thirty (30) business days after demand,
unless the Reviewing Party has given a written opinion to the Company that Indemnitee is not entitled to indemnification under applicable law. Indemnitee shall cooperate with the Reviewing Party making a determination with respect to
Indemnitee’s entitlement to indemnification, including providing to the Reviewing Party upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably
available to Indemnitee and reasonably necessary to such determination. 
 (b) Suit to Enforce Rights. Regardless of
any action by the Reviewing Party, if Indemnitee has not received full indemnification within thirty (30) days after making a demand in accordance with Section 4(a), Indemnitee shall have the right to enforce its indemnification rights
under this Agreement by commencing litigation in any court in the State of California or the State of Delaware having subject matter jurisdiction thereof seeking an initial determination by the court or challenging any determination by the Reviewing
Party or any aspect thereof. The Company hereby consents to service of process and to appear in any such proceeding. Any determination by the Reviewing Party not challenged by the Indemnitee shall be binding on the Company and Indemnitee. The
Company shall be precluded from asserting in any such proceeding that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court that the Company is bound by all the provisions of
this Agreement. The remedy provided for in this Section 4 shall be in addition to any other remedies available to Indemnitee at law or in equity. 
 (c) Defense to Indemnification, Burden of Proof, and Presumptions. It shall be a defense to any action brought by Indemnitee against the Company to enforce this Agreement (other than an action brought to
enforce a claim for Expenses incurred in defending a Proceeding in advance of its final disposition) that it is not permissible under applicable law for the Company to indemnify Indemnitee for the amount claimed. In connection with any such action
or 

  

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any determination by the Reviewing Party or otherwise as to whether Indemnitee is entitled to be indemnified hereunder, the burden of proving such a defense
or determination shall be on the Company. Neither the failure of the Reviewing Party or the Company (including its Board, independent legal counsel or its stockholders) to have made a determination prior to the commencement of such action by
Indemnitee that indemnification of the claimant is proper under the circumstances because Indemnitee has met the standard of conduct set forth in applicable law, nor an actual determination by the Reviewing Party or Company (including its Board,
independent legal counsel or its stockholders) that the Indemnitee had not met such applicable standard of conduct, shall be a defense to the action or create a presumption that the Indemnitee has not met the applicable standard of conduct. For
purposes of this Agreement, the termination of any claim, action, suit or proceeding, by judgment, order, settlement (whether with or without court approval), conviction or upon a plea of nolo contendere or its equivalent, shall not create a
presumption that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification is not permitted by applicable law. For purposes of any determination of good faith under
any applicable standard of conduct, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is based on the records or books of account of the Company, including financial statements, or on information supplied to
Indemnitee by the officers of the Company in the course of their duties, or on the advice of legal counsel for the Company or the Board or counsel selected by any committee of the Board or on information or records given or reports made to the
Company by an independent certified public accountant or by an appraiser, investment banker or other expert selected with reasonable care by the Company or the Board or any committee of the Board. The provisions of the preceding sentence shall not
be deemed to be exclusive or to limit in any way the other circumstances in which the Indemnitee may be deemed to have met the applicable standard of conduct. The knowledge and/or actions, or failure to act, or any director, officer, agent or
employee of the Company shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. 
 5. Indemnification for Expenses Incurred in Enforcing Rights. The Company shall indemnify Indemnitee against any and all Expenses that are incurred by Indemnitee in connection with any action brought by
Indemnitee for 
 (i) indemnification or advance payment of Expenses by the Company under this Agreement or any other
agreement or under applicable law or the Company’s Certificate of Incorporation or Bylaws now or hereafter in effect relating to indemnification for Indemnifiable Events, and/or 
 (ii) recovery under directors’ and officers’ liability insurance policies maintained by the Company; but only in the event that
Indemnitee ultimately is determined to be entitled to such indemnification or insurance recovery, as the case may be. In addition, the Company shall, if so requested by Indemnitee, advance the foregoing Expenses to Indemnitee, subject to and in
accordance with Section 2(c). 
 6. Notification and Defense of Proceeding. 
 (a) Notice. Promptly after receipt by Indemnitee of notice of the commencement of any Proceeding, Indemnitee shall, if a claim in
respect thereof is to be made 

  

 -6- 

 
against the Company under this Agreement, notify the Company of the commencement thereof; but the omission so to notify the Company will not relieve the
Company from any liability that it may have to Indemnitee, except as provided in Section 6(c). 
 (b) Defense.
With respect to any Proceeding as to which Indemnitee notifies the Company of the commencement thereof, the Company will be entitled to participate in the Proceeding at its own expense and except as otherwise provided below, to the extent the
Company so wishes, it may assume the defense thereof with counsel reasonably satisfactory to Indemnitee. After notice from the Company to Indemnitee of its election to assume the defense of any Proceeding, the Company shall not be liable to
Indemnitee under this Agreement or otherwise for any Expenses subsequently incurred by Indemnitee in connection with the defense of such Proceeding other than reasonable costs of investigation or as otherwise provided below. Indemnitee shall have
the right to employ legal counsel in such Proceeding, but all Expenses related thereto incurred after notice from the Company of its assumption of the defense shall be at Indemnitee’s expense unless: (i) the employment of legal counsel by
Indemnitee has been authorized by the Company, (ii) Indemnitee has reasonably determined that there may be a conflict of interest between Indemnitee and the Company in the defense of the Proceeding, (iii) after a Change in Control, the
employment of counsel by Indemnitee has been approved by the Independent Counsel or (iv) the Company shall not in fact have employed counsel to assume the defense of such Proceeding, in each of which cases all Expenses of the Proceeding shall
be borne by the Company. The Company shall not be entitled to assume the defense of any Proceeding brought by or on behalf of the Company, or as to which Indemnitee shall have made the determination provided for in (ii) above or under the
circumstances provided for in (iii) and (iv) above. 
 (c) Settlement of Claims. The Company shall not be
liable to indemnify Indemnitee under this Agreement or otherwise for any amounts paid in settlement of any Proceeding effected without the Company’s written consent, such consent not to be unreasonably withheld; provided, however, that if a
Change in Control has occurred, the Company shall be liable for indemnification of Indemnitee for amounts paid in settlement if the Independent Counsel has approved the settlement. The Company shall not settle any Proceeding in any manner that would
impose any penalty or limitation on Indemnitee without Indemnitee’s written consent. The Company shall not be liable to indemnify the Indemnitee under this Agreement with regard to any judicial award if the Company was not given a reasonable
and timely opportunity as a result of Indemnitees’ failure to provide notice, at its expense, to participate in the defense of such action, and the lack of such notice materially prejudiced the Company’s ability to participate in defense
of such action. The Company’s liability hereunder shall not be excused if participation in the Proceeding by the Company was barred by this Agreement. 
 7. Establishment of Trust. In the event of a Change in Control, the Company shall, upon written request by Indemnitee, create a Trust for the benefit of the Indemnitee and from time to time upon written
request of Indemnitee shall fund the Trust in an amount sufficient to satisfy any and all Expenses reasonably anticipated at the time of each such request to be incurred in connection with investigating, preparing for, participating in, and/or
defending any Proceeding relating to an Indemnifiable Event. The amount or amounts to be deposited in the Trust pursuant to the foregoing funding obligation shall be determined by the Independent Counsel. The terms of the Trust shall provide that
(i) the Trust shall not be revoked or the principal thereof invaded without the 

  

 -7- 

 
written consent of the Indemnitee, (ii) the Trustee shall advance, within thirty (30) days of a request by the Indemnitee, any and all Expenses to
the Indemnitee (and the Indemnitee hereby agrees to reimburse the Trust under the same circumstances for which the Indemnitee would be required to reimburse the Company under Section 2(c) of this Agreement), (iii) the Trust shall continue
to be funded by the Company in accordance with the funding obligation set forth above, (iv) the Trustee shall promptly pay to the Indemnitee all amounts for which the Indemnitee shall be entitled to indemnification pursuant to this Agreement or
otherwise no later than thirty (30) days after notice pursuant to Section 4(a) and (v) all unexpended funds in the Trust shall revert to the Company upon a final determination by the Independent Counsel or a court of competent
jurisdiction, as the case may be, that the Indemnitee has been fully indemnified under the terms of this Agreement. The Trustee shall be chosen by the Indemnitee. Nothing in this Section 7 shall relieve the Company of any of its obligations
under this Agreement. All income earned on the assets held in the Trust shall be reported as income by the Company for federal, state, local and foreign tax purposes. The Company shall pay all costs of establishing and maintaining the Trust and
shall indemnify the Trustee against any and all expenses (including attorneys’ fees), claims, liabilities, loss and damages arising out of or relating to this Agreement or the establishment and maintenance of the Trust. 
 8. Non-Exclusivity. The rights of Indemnitee hereunder shall be in addition to any other rights Indemnitee may have under the
Company’s Certificate of Incorporation, Bylaws, applicable law or otherwise; provided, however, that this Agreement shall supersede any prior indemnification agreement between the Company and the Indemnitee. To the extent that a change in
applicable law (whether by statute or judicial decision) permits greater indemnification than would be afforded currently under the Company’s Certificate of Incorporation, Bylaws, applicable law or this Agreement, it is the intent of the
parties that Indemnitee enjoy by this Agreement the greater benefits so afforded by such change. 
 9. Liability
Insurance. To the extent the Company maintains an insurance policy or policies providing general and/or directors’ and officers’ liability insurance, Indemnitee shall be covered by such policy or policies, in accordance with its or
their terms, to the maximum extent of the coverage available for any Company director or officer. 
 10. Period of
Limitations. No legal action shall be brought and no cause of action shall be asserted by or on behalf of the Company or any Affiliate of the Company against Indemnitee, Indemnitee’s spouse, heirs, executors or personal or legal
representatives after the expiration of two (2) years from the date of accrual of such cause of action or such longer period as may be required by state law under the circumstances. Any claim or cause of action of the Company or its
Affiliate shall be extinguished and deemed released unless asserted by the timely filing and notice of a legal action within such period; provided, however, that if any shorter period of limitations is otherwise applicable to any such cause of
action, the shorter period shall govern. 
 11. Amendment of this Agreement. No supplement, modification or amendment
of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be binding unless in the form of a writing signed by the party against whom enforcement of the
waiver is sought, and no such waiver shall operate as a waiver of any other provisions hereof (whether or not similar), nor shall such waiver 

  

 -8- 

 
constitute a continuing waiver. Except as specifically provided herein, no failure to exercise or any delay in exercising any right or remedy hereunder shall
constitute a waiver thereof. 
 12. Subrogation. In the event of payment under this Agreement, the Company shall be
subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and shall do everything that may be necessary to secure such rights, including the execution of such documents necessary
to enable the Company effectively to bring suit to enforce such rights. 
 13. No Duplication of Payments. The Company
shall not be liable under this Agreement to make any payment in connection with any claim made against Indemnitee to the extent Indemnitee has otherwise received payment (under any insurance policy, Bylaw or otherwise) of the amounts otherwise
indemnifiable hereunder. 
 14. Duration of Agreement. This Agreement shall continue until and terminate upon the later
of (a) ten (10) years after the date that Indemnitee shall have ceased to serve as a director or officer of the Company or (b) one (1) year after the final termination of any Proceeding, including any appeal, then pending in
respect of which Indemnitee is granted rights of indemnification or advancement of Expenses hereunder and of any proceeding commenced by Indemnitee pursuant to Section 4(b) of this Agreement relating thereto. 
 15. Binding Effect. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and
their respective successors (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company), assigns, spouses, heirs and personal and legal
representatives. The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially all or a substantial part, of the business and/or assets of the Company, by written
agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. The
indemnification provided under this Agreement shall continue as to Indemnitee for any action taken or not taken while serving in an indemnified capacity pertaining to an Indemnifiable Event even though Indemnitee may have ceased to serve in such
capacity at the time of any Proceeding. 
 16. Severability. If any provision (or portion thereof) of this Agreement
shall be held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable, (a) the remaining provisions shall remain enforceable to the fullest extent permitted by law; (b) such provision or provisions shall be
deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without limitation,
each portion of this Agreement containing any provision held to be invalid, void or otherwise unenforceable, that is not itself invalid, void or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held
invalid, void or unenforceable. 
 17. Contribution. To the fullest extent permissible under applicable law, whether or
not the indemnification provided for in this Agreement is available to Indemnitee for any reason 

  

 -9- 

 
whatsoever, the Company shall pay all or a portion of the amount that would otherwise be incurred by Indemnitee for Expenses in connection with any claim
relating to an Indemnifiable Event, as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or
transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s). 
 18. Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of
Delaware applicable to contracts made and to be performed in such State without giving effect to its principles of conflicts of laws. The Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding
arising out of or in connection with this Agreement may be brought in the Delaware Court of Chancery, (ii) consent to submit to the jurisdiction of the Delaware Court of Chancery for purposes of any action or proceeding arising out of or in
connection with this Agreement, (iii) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court of Chancery, and (iv) waive, and agree not to plead or to make, any claim that any such action or
proceeding brought in the Delaware Court of Chancery has been brought in an improper or inconvenient forum. 
 19.
Notices. All notices, demands and other communications required or permitted hereunder shall be made in writing and shall be deemed to have been duly given if delivered by hand, against receipt or mailed, postage prepaid, certified or
registered mail, return receipt requested and addressed to the Company at: 
 SenoRx, Inc. 
 11 Columbia, Suite A 
 Aliso Viejo, CA 92656

 Attention: Chief Executive Officer 
 and to
Indemnitee at the address set forth below Indemnitee’s signature hereto. Notice of change of address shall be effective only when given in accordance with this Section. All notices complying with this Section shall be deemed to have been
received on the date of hand delivery or on the third business day after mailing. 
 20. Counterparts. This Agreement
may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 * * * * * 
  

 -10- 

 IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this Agreement as of the day
specified above. 
  

							
	SENORX, INC.
	 a Delaware corporation

		
	 By:
	 	  
		
	 Print Name:
	 	  
		
	 Title:
	 	  
	
	INDEMNITEE,
	 an individual

	
	  
	 Indemnitee

	
	  
	  
	 (Address)

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