Document:

Prepared by R.R. Donnelley Financial -- Amended and Restated Management Retention Plan

 Exhibit 10.21 
  
 HEMOSENSE, INC. 
  
 AMENDED AND RESTATED 
 MANAGEMENT
RETENTION PLAN 
  
 1.    PURPOSES. 
  
 (a) The purpose of the Plan is to provide a means by which selected key employees of the Company may be given an opportunity to participate in the receipt of proceeds of a Change of Control transaction.

  
 (b) The Company, by means of the Plan,
seeks to retain the services of persons who are now Key Employees of the Company, to secure and retain the services of new Key Employees, and to provide incentives for such persons to exert maximum efforts for the success of the Company. 

 
 (c) The Board has determined that the adoption of
the Plan is in the best interest of the Company and its stockholders. 
  
 2.    CERTAIN DEFINITIONS. 
  
 (a) “Board” means the Board of Directors of the Company. 
  
 (b) “Change of Control” means a (i)
the acquisition of the Company by another entity by means of any transaction or series of related transactions (including, without limitation, any reorganization, merger or consolidation, but excluding any merger effected primarily for the purpose
of changing the domicile of the Company or a capital raising transaction by the Company), unless the Company’s stockholders of record as constituted immediately prior to such transaction or series of related transactions will,
immediately after such transaction or series of related transactions hold at least a majority of the voting power of the surviving or acquiring entity or (ii) a sale of all or substantially all of the assets of the Company. 
  
 Notwithstanding the foregoing, a transaction shall not
constitute a Change in Control if: (i) its sole purpose is to change the state of the Company’s incorporation; (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held
the Company’s securities immediately before such transaction; or (iii) it is a transaction effected primarily for the purpose of financing the Company with cash as determined by the Board in its discretion.  
  
 (c) “Closing” means the closing of a
transaction constituting a Change of Control. 
  
 (d) “Company” means HemoSense, Inc., a Delaware corporation and any successor. 
  
 (e) “Compensation Committee” means such committee of the Board, as designated from time to time.

  
 (f) “Key Employee”
means any person employed by the Company who is designated by the Board in writing from time to time as a Key Employee. 

 (g) “Net Proceeds” shall be defined by reference to the
definitive agreements for the applicable Change of Control, but shall generally mean the net proceeds available for distribution to the stockholders of the Company in a Change of Control transaction plus amounts payable to Key Employees pursuant to
this Plan. Net Proceeds shall include contingent proceeds (such as escrow releases and earn-outs) as and when such proceeds are available for distribution to the stockholders. Net Proceeds shall exclude the value of Company liabilities assumed by
the other parties to the transaction. 
  
 (h)
“Plan” means this Management Retention Plan. 
  
 3.    ADMINISTRATION. 
  
 (a) The Plan shall be interpreted and administered by the Board, whose actions shall be final and binding on all persons, including the Key Employees. 
  
 (b) The Board and the Compensation Committee, in their
sole discretion, shall have the power, subject to, and within the limitations of, the express provisions of the Plan: 
  
 (1) To determine from time to time which employees of the Company shall be designated as Key Employees entitled to participate in
the Plan and the terms under which they will be entitled to participate (subject to the terms of the Plan). 
  
 (2) To determine whether or not a transaction or related series of transactions results in a Change of Control. 
  
 (3) To determine the amount of the Net Proceeds.

  
 (4) To establish, change and adjust,
in their sole discretion the percentage allocation of the cash, securities or other property in the Acquisition Pool to each of the Key Employees and any vesting, escrow or other restrictions on the proceeds receivable by each Key Employee.

  
 (c) The Board may delegate some or all
of its powers and responsibilities under the Plan either to a Compensation or other committee of the Board or to one or more officers of the Company. 
  
 (d) No member of the Board will be liable for any action or determination made by the Board with respect to the Plan or any
distribution paid under the Plan. All expenses and liabilities that members of the Board incur in connection with the administration of this Plan shall be borne by the Company or its successor. No members of the Board shall be personally liable for
any action, determination or interpretation made in good faith with respect to this Plan or any distribution paid hereunder, and all members of the Board shall be fully indemnified and held harmless by the Company or its successor in respect of any
such action, determination or interpretation. 
  
 4.    ESTABLISHMENT OF ACQUISITION POOL. 
  
 Upon a Closing involving Net Proceeds greater than $25,500,000, the Company shall establish a bonus pool (the “Acquisition
Pool”). The size of the Acquisition Pool shall equal 

  

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whichever is least: (a) ten percent (10%) of the Net Proceeds, (b) $6,500,000 or (c) the amount by which the Net Proceeds exceed an amount equal to $1.58 per
outstanding share of the Company’s Series C-2 Preferred Stock plus any declared by unpaid dividends on such stock. 
  
 5.    ALLOCATION OF ACQUISITION POOL. 
  
 (a) The allocation of the Acquisition Pool to
individuals designated as Key Employees shall be set forth in writing from time to time as determined by the Board. 
  
 (b) Unless a Key Employee’s agreement relating to participation in the Plan (the “Plan Agreement”) provides
otherwise, prior to the Closing, the Board, in its sole discretion, may reallocate the Acquisition Pool among Key Employees. 
  
 6.     DISTRIBUTIONS. 
  

(a) If the conditions for distribution set forth in the Plan and a Key Employee’s Plan Agreement are satisfied, on and
after the Closing Date, the Key Employee shall be entitled to receive from the Company a distribution equal to 100% of the amount of the Plan distribution to which he or she is entitled as provided in the Key Employee’s Plan Agreement. Each
participant will receive his or her distributive share of the Acquisition Pool in the same form or forms of payment, in the same proportions and at the same times paid by the purchaser(s) to the holders of the Company’s equity securities upon
the Change of Control, except as stated here. If the Net Proceeds include equity securities of another party to the Change of Control transaction, and if applicable securities laws or restrictions imposed by the other party to the transaction
preclude the distribution of such equity securities to some or all of the Key Employees, such persons shall instead be entitled to receive cash consideration equal to the fair market value of the equity securities they would have received absent
such restrictions. In such event, the Board in its discretion shall determine the fair market value of the equity securities taking into account all factors the Board considers relevant, including an appropriate discount to reflect any restrictions
on liquidity of such securities. 
  
 (b)
Any securities that are issued to the Key Employees pursuant to this Plan shall be subject to the same or similar restrictions as imposed by a purchaser on the securities of the Company’s stockholders as set forth in the agreement pursuant
to which the Change of Control occurs and such restrictions that are required by applicable securities laws. 
  
 (c) A Key Employee must be an employee of the Company on the Closing Date to receive his or her allocation of the Acquisition Pool
on such date. Upon termination of a Key Employee prior to the Closing Date, such Key Employee shall no longer be a participant in the Plan and shall not be entitled to any distributions hereunder. Such Key Employee’s Plan allocation shall be
available for distribution under this Plan as determined by the Board pursuant to Section 5(a). 
  
 (d) Anything in the Plan to the contrary notwithstanding, if any payment or benefit a Key Employee would receive from the Company
or otherwise (“Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), and (ii) but for this sentence, be
subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall be equal to the Reduced Amount. The “Reduced Amount” shall be either (x) the largest portion of the Payment
that would result in no portion of the Payment being subject to the Excise Tax or (y) the largest portion, up to and 

  

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including the total, of the Payment, whichever amount, after taking into account all applicable federal, state and local employment taxes, income taxes, and
the Excise Tax (all computed at the highest applicable marginal rate), results in such Key Employee’s receipt, on an after-tax basis, of the greater amount of the Payment. If a reduction in payments or benefits constituting “parachute
payments” is necessary so that the Payment equals the Reduced Amount, reduction shall occur in the following order unless the Key Employee elects in writing a different order (provided, however, that such election shall be subject to Company
approval if made on or after the date on which the event that triggers the Payment occurs): reduction of cash payments; cancellation of accelerated vesting of stock awards; reduction of employee benefits. In the event that acceleration of vesting of
stock award compensation is to be reduced, such acceleration of vesting shall be cancelled in the reverse order of the date of grant of the Key Employee’s stock awards unless such Key Employee elects in writing a different order for
cancellation. 
  
 The accounting firm engaged by
the Company for general audit purposes as of the day prior to the effective date of the Change of Control shall perform the foregoing calculations. If the accounting firm so engaged by the Company is serving as accountant or auditor for the
individual, entity or group effecting the Change of Control, the Company shall appoint a nationally recognized accounting firm to make the determinations required hereunder. The Company shall bear all expenses with respect to the determinations by
such accounting firm required to be made hereunder. 
  
 The accounting firm engaged to make the determinations hereunder shall provide its calculations, together with detailed supporting documentation, to the Company and the Key Employee within fifteen (15) calendar days after the date on which
the Key Employee’s right to a Payment is triggered (if requested at that time by the Company or the Key Employee) or such other time as requested by the Company or the Key Employee. If the accounting firm determines that no Excise Tax is
payable with respect to a Payment, either before or after the application of the Reduced Amount, it shall furnish the Company and the Key Employee with an opinion reasonably acceptable to such Key Employee that no Excise Tax will be imposed with
respect to such Payment. Any good faith determinations of the accounting firm made hereunder shall be final, binding and conclusive upon the Company and the Key Employee. 
  
 7.     AMENDMENT OR TERMINATION OF
THE PLAN. 
  
 (a) The Board at any time, and from time to time, prior to the Closing, may amend or terminate the Plan. 
  
 (b) The Plan shall automatically terminate upon (i) the completion of all payments under the terms of the Plan or (ii) the closing
of an initial public offering of the company in which all outstanding shares of Preferred Stock are automatically converted into Common Stock pursuant to the provisions of the Company’s Certificate of Incorporation. 
  
 8.     NO GUARANTEE
OF FUTURE SERVICE. 
  
 Selection of an individual to participate in the Plan shall not provide any guarantee or promise of continued service of the participant with the Company, and the Company retains the right 

  

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to terminate the employment of any employee at any time, with or without cause, for any reason or no reason, except as may be restricted by law or contract.

  
 9.    TAX
WITHHOLDING. 
  
 The Company
shall withhold from any distributions under the Plan any amount required to satisfy the Company’s income and employment tax withholding obligations under federal and state law. 
  
 10.     FUNDING. 
  
 No provision of the Plan shall require the Company, for the purpose of satisfying any obligations under the
Plan, to purchase assets or place any assets in a trust or other entity to which contributions are made or otherwise to segregate any assets, nor shall the Company maintain separate bank accounts, books, records or other evidence of the existence of
a segregated or separately maintained or administered fund for such purposes. Key Employees shall have no rights under the Plan other than as unsecured general creditors of the Company. 
  
 11.     NONASSIGNABILITY. 
  
 To the maximum extent permitted by law, a Key
Employee’s right or benefits under this Plan shall not be subject to anticipation, alienation, sale, assignment, pledge, encumbrance or charge, and any attempt to anticipate, alienate, sell, assign, pledge, encumber or charge the same shall be
void. No right or benefit hereunder shall in any manner be liable for or subject to the debts, contracts, liabilities or torts of the person entitled to such benefit. 
  
 12.     CHOICE OF LAW. 
  
 All questions concerning the construction, validation and
interpretation of the Plan will be governed by the law of the State of California without regard to its conflict of laws provisions. 
  
 13.     HEADINGS. 
  
 The headings in the Plan are inserted for convenience only and shall not be deemed to constitute a part hereof nor to affect the meaning
thereof. 
  
 [Remainder of Page Intentionally Left Blank]

  

 5Prepared by R.R. Donnelley Financial -- Form of Employment Agreement

 Exhibit 10.22 
  
 HEMOSENSE, INC. 
  
 EMPLOYMENT AGREEMENT 
  
 This Agreement is entered into as of
                            , (the “Effective Date”) by and between HemoSense, Inc. (the
”Company”), and              (“Executive”). 
  
 1. At-Will Employment. The parties agree that Executive’s employment with the Company will be “at-will” employment and may be
terminated at any time with or without cause or notice. Executive understands and agrees that neither his job performance nor promotions, commendations, bonuses or the like from the Company give rise to or in any way serve as the basis for
modification, amendment, or extension, by implication or otherwise, of his employment with the Company. 
  
 2. Severance Payments. 
  
 (a) Involuntary Termination; Constructive Termination. If Executive’s employment with the Company is terminated by the Company without Cause
or if a Constructive Termination occurs, and Executive signs and does not revoke a standard release of claims with the Company, Executive shall be entitled to receive the following: Executive shall receive continuing severance payments, less
applicable withholding taxes, at a rate equal to the then current base salary rate as well as the continuation of any Company payments for Executive’s group health care plan premiums (together, “Severance Payments”), all for a period
of six (6) months from the date of such termination. Any Severance Payments due hereunder shall be paid periodically in accordance with the Company’s normal payroll practices. The Company’s obligation to pay Severance Payments hereunder
shall terminate upon the date Executive commences employment with or the provision of full time consulting services to any other corporation or other entity. 
  

(b) Acceleration of Stock Option Vesting. If Executive’s employment is terminated by the Company without Cause or terminated by reason of a
Constructive Termination prior to the occurrence of a Change of Control, Executive shall receive immediate acceleration of vesting of any then outstanding stock options or restricted stock of the Company as to those shares that would otherwise be
vested on the date which is one year from the date of such termination. 
  
 (c) Voluntary Termination; Termination for Cause. If Executive’s employment with the Company terminates voluntarily by Executive or for Cause by the Company, then all vesting of all options and restricted
stock, if any, will terminate immediately and all payments of compensation by the Company to Executive hereunder will terminate immediately (except as to amounts already earned). 
  
 3. Definitions. 
  
 (a) Cause. For purposes of this Agreement, “Cause” is defined as (i) an act of personal dishonesty taken by the Employee in connection
with his responsibilities as an employee and intended to result in substantial personal enrichment of the Employee, (ii) Employee being convicted of a felony, (iii) a willful act by the Employee which constitutes gross misconduct and which is
injurious to the Company, (iv) following delivery to the Employee of a written demand for performance from the Company which describes the basis for the Company’s reasonable belief that the Employee has not substantially performed his duties,
continued violations by the Employee of the Employee’s obligations to the Company which are demonstrably willful and deliberate on the Employee’s part. 
  
 (b) Constructive Termination. For purposes of this Agreement, “Constructive Termination,” shall mean,
without Employee’s express written consent, (i) a material reduction of the Employee’s duties, title, authority or responsibilities, relative to the Employee’s duties, title, authority or responsibilities as in effect immediately
prior to such reduction, or the assignment to Employee of such reduced duties, title, authority or responsibilities; provided, however, that a reduction in duties, title, authority or responsibilities solely by virtue of the Company
being acquired and made part of a larger entity (as, for example, when the Chief Executive Officer of the Company remains the Chief Executive Officer of the subsidiary or business unit containing the Company’s business following a Change of
Control) shall not by itself constitute grounds for a “Constructive Termination”; (ii) a substantial reduction of the facilities and perquisites (including office space and location) available to the Employee immediately prior to such
reduction; (iii) a reduction by the Company in the base compensation of the Employee as in effect immediately prior to such reduction; (iv) a material reduction by the Company in the kind or level of benefits to which the Employee was entitled
immediately prior to such reduction with the result that such Employee’s overall benefits package is significantly reduced; (v) the relocation of the Employee to a facility or a location more than fifty (50) miles from such Employee’s then
present location. 

 4. Acceleration of Vesting Upon Completion of Initial Public Offering. Upon the effective date of
the Company’s initial Registration Statement on Form S-1 for the registration of the Company’s Common Stock, Executive shall receive immediate acceleration of vesting of the lesser of: (i) 20% of the total number of restricted stock or
shares subject to outstanding stock options on the effective date of such Registration Statement, or (ii) the total number of any unvested restricted stock or unvested shares subject to outstanding stock options on the effective date of such
Registration Statement. 
  
 5. Assignment. This Agreement
will be binding upon and inure to the benefit of (a) the heirs, executors and legal representatives of Executive upon Executive’s death and (b) any successor of the Company. Any such successor of the Company will be deemed substituted for the
Company under the terms of this Agreement for all purposes. For this purpose, “successor” means any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly
acquires all or substantially all of the assets or business of the Company. None of the rights of Executive to receive any form of compensation payable pursuant to this Agreement may be assigned or transferred except by will or the laws of descent
and distribution. Any other attempted assignment, transfer, conveyance or other disposition of Executive’s right to compensation or other benefits will be null and void. 
  
 6. Severability. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction
to be illegal, unenforceable or void, this Agreement will continue in full force and effect without said provision. 
  
 7. Arbitration. 
  
 (a) General. In consideration of Executive’s service to the Company, its promise to arbitrate all employment related disputes and
Executive’s receipt of the compensation, pay raises and other benefits paid to Executive by the Company, at present and in the future, Executive agrees that any and all controversies, claims, or disputes with anyone (including the Company and
any employee, officer, director, shareholder or benefit plan of the Company in their capacity as such or otherwise) arising out of, relating to, or resulting from Executive’s service to the Company under this Agreement or otherwise or the
termination of Executive’s service with the Company, including any breach of this Agreement, shall be subject to binding arbitration under the Arbitration Rules set forth in California Code of Civil Procedure Section 1280 through 1294.2,
including Section 1283.05 (the “Rules”) and pursuant to California law. Disputes which Executive agrees to arbitrate, and thereby agrees to waive any right to a trial by jury, include any statutory claims under state or federal law,
including, but not limited to, claims under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, the Age Discrimination in Employment Act of 1967, the Older Workers Benefit Protection Act, the California Fair
Employment and Housing Act, the California Labor Code, claims of harassment, discrimination or wrongful termination and any 

 
statutory claims. Executive further understands that this Agreement to arbitrate also applies to any disputes that the Company may have with Executive.

  
 (b) Procedure. Executive agrees that any arbitration
will be administered by the American Arbitration Association (“AAA”) and that a neutral arbitrator will be selected in a manner consistent with its National Rules for the Resolution of Employment Disputes. The arbitration proceedings will
allow for discovery according to the rules set forth in the National Rules for the Resolution of Employment Disputes or California Code of Civil Procedure. Executive agrees that the arbitrator shall have the power to decide any motions
brought by any party to the arbitration, including motions for summary judgment and/or adjudication and motions to dismiss and demurrers, prior to any arbitration hearing. Executive agrees that the arbitrator shall issue a written decision on the
merits. Executive also agrees that the arbitrator shall have the power to award any remedies, including attorneys’ fees and costs, available under applicable law. Executive understands the Company will pay for any administrative or hearing fees
charged by the arbitrator or AAA. Executive agrees that the arbitrator shall administer and conduct any arbitration in a manner consistent with the Rules and that to the extent that the AAA’s National Rules for the Resolution of Employment
Disputes conflict with the Rules, the Rules shall take precedence. 
  
 (c) Remedy. Except as provided by the Rules, arbitration shall be the sole, exclusive and final remedy for any dispute between Executive and the Company. Accordingly, except as provided for by the Rules, neither Executive nor the
Company will be permitted to pursue court action regarding claims that are subject to arbitration. Notwithstanding, the arbitrator will not have the authority to disregard or refuse to enforce any lawful Company policy, and the arbitrator shall not
order or require the Company to adopt a policy not otherwise required by law which the Company has not adopted. 
  
 (d) Availability of Injunctive Relief. In addition to the right under the Rules to petition the court for provisional relief, Executive agrees that
any party may also petition the court for injunctive relief where either party alleges or claims a violation of this Agreement or Labor Code §2870. In the event either party seeks injunctive relief, the prevailing party shall be entitled to
recover reasonable costs and attorneys fees. 
  
 (e)
Administrative Relief. Executive understands that this Agreement does not prohibit Executive from pursuing an administrative claim with a local, state or federal administrative body such as the Department of Fair Employment and Housing, the
Equal Employment Opportunity Commission or the workers’ compensation board. This Agreement does, however, preclude Executive from pursuing court action regarding any such claim. 
  
 (f) Voluntary Nature of Agreement. Executive acknowledges and agrees that Executive is executing this Agreement
voluntarily and without any duress or undue influence by the Company or anyone else. Executive further acknowledges and agrees that Executive has carefully read this Agreement and that Executive has asked any questions needed for Executive to
understand the terms, consequences and binding effect of this Agreement and fully understand it, including that Executive is waiving Executive’s right to a jury trial. Finally, Executive agrees that Executive has been provided an opportunity to
seek the advice of an attorney of Executive’s choice before signing this Agreement. 

 8. Tax Withholding. All payments made pursuant to this Agreement will be subject to withholding of
applicable taxes. 
  
 9. Governing Law. This Agreement will
be governed by the laws of the State of California (with the exception of its conflict of laws provisions). 
  
 10. Acknowledgment. Executive acknowledges that he has had the opportunity to discuss this matter with and obtain advice from his private attorney,
has had sufficient time to, and has carefully read and fully understands all the provisions of this Agreement, and is knowingly and voluntarily entering into this Agreement. 
  
  
  
 Signature Page Follows 

 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by their
duly authorized officers, as of the day and year first above written. 
  

			
	 COMPANY:
  
 HEMOSENSE, INC.

		
	By:	 	 
		
	Name:	 	 
		
	Title:	 	 

  

			
	
	EXECUTIVE:
		
	By:	 	 
		
	Name:	 	 
		
	Title:

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