Document:

Amended and Restated Key Personnel Incentive Award Agreement

 Exhibit 10.41 

June 2, 2010 
 Parag V.
Karmarkar 
 1101 East
33rd St. 

Suite B307 
 Baltimore, MD 21218 

 

			
	Re:	  	Amended and Restated Key Personnel Incentive Award Agreement

Dear Perry: 

This letter (this “Letter Agreement”) sets forth the agreement between you and SurgiVision, Inc., a
Delaware corporation (the “Company”), regarding the terms upon which you are eligible to receive an incentive bonus payment (the “Incentive Payment”) pursuant to the Company’s Amended and Restated Key Personnel
Incentive Program (the “Program”), a copy of which is attached hereto and the terms of which are incorporated herein. This Letter Agreement supersedes and replaces the prior Letter Agreement between you and the Company dated
May 15, 2007. This Letter Agreement is in addition to, and not in substitution for, any other agreements between you and the Company, and the Incentive Payment is in addition to, and not in substitution for, any other compensation or benefits
to which you otherwise are entitled or eligible. 
 1. Incentive Payment Upon Triggering Event. The
amount of your Incentive Payment with respect to a Triggering Event will be equal to your Individual Share multiplied by the Maximum Program Amount. Your “Individual Share” is thirty three and 33/100 percent (33.33%) of the Maximum
Program Amount. Therefore, your Maximum Incentive Payment is $1,000,000. Notwithstanding the foregoing, your Incentive Payment with respect to any Triggering Event shall be reduced by your Service Payments, in accordance with the terms of the
Program. 
 2. Service Payments. Provided that on each of the following dates this Letter Agreement has
not been terminated pursuant to Section 4.1, Section 4.2 or Section 4.3 of the Program, a Service Payment will be made to you in the following amounts: 
  

				
	 June 30, 2012
	  	$	125,000.00
	 December 31, 2012
	  	$	125,000.00
	 June 30, 2013
	  	$	125,000.00
	 December 31, 2013
	  	$	125,000.00
	 June 30, 2014
	  	$	125,000.00
	 December 31, 2014
	  	$	125,000.00
	 June 30, 2015
	  	$	125,000.00
	 December 31, 2015
	  	$	125,000.00

 ; provided, however, any Service
Payment that would otherwise be due after March 15 of the 

 Parag V. Karmarkar 

June 2, 2010 
 
Page
 2
 
  

 
year following the year in which your employment or consultancy with the Company terminates pursuant to Section 4.2 or Section 4.3 of the Program, shall instead be paid on March 15
of the year following the termination year. 
 3. Term. Unless earlier terminated as provided in
Section 4 of the Program, this Letter Agreement will expire and terminate upon the earlier to occur of (a) December 31, 2015, or (b) the consummation of a Triggering Event; provided, however, that upon any such termination the
terms of this Letter Agreement will survive to the extent, but only to the extent, necessary for the Company to satisfy its obligations to you that result from such Triggering Event or any unpaid Service Payments. 

4. Program Governs. You acknowledge receipt of a copy of the Program and agree to be bound by all the terms and
provisions thereof. The terms of this Letter Agreement are governed by the terms of the Program, and in the case of any inconsistency between the terms of this Letter Agreement and the terms of the Program, the terms of the Program will govern.

 5. Definitions. For purposes of this Letter Agreement, capitalized terms not expressly defined herein
will have the meanings ascribed to those terms in the Program. 
 6. Amendments. At any time prior to the
consummation of a Triggering Event, the Company, through the Committee, may amend or alter the terms of this Letter Agreement and/or the Program; provided, however, that any such amendment or alteration that impairs your rights under this Letter
Agreement or the Program will require your prior consent. 
 7. Non-Transferable. You acknowledge and
agree that your rights under this Letter Agreement may not be transferred, conveyed, encumbered or assigned, whether voluntarily or involuntarily. 

8. Counterparts. This Letter Agreement may be executed in counterparts, each of which will be deemed to be an
original but all of which together will constitute one and the same instrument. 
 9. Certain Tax
Implications. Notwithstanding anything herein to the contrary, to the extent the Committee determines in good faith that your Incentive Payment would constitute an “excess parachute payment” (as defined in Section 280G of the
Internal Revenue Code of 1986, as amended (the “Code”)) when taking into account all factors contemplated by Section 280G of the Code, the amount of your Incentive Payment may be reduced by the amount necessary to prevent your
Incentive Payment from creating or increasing an “excess parachute payment” under Section 280G of the Code, as determined in good faith by the Committee. 

 Parag V. Karmarkar 

June 2, 2010 
 
Page
 3
 
  

 If this Letter Agreement sets forth our agreement on the subject matter
hereof, kindly sign and return this letter to the Company. 
  

			
	 Sincerely,

	
	 SURGIVISION, INC.

		
	 By:
	 	 /s/ Kimble L. Jenkins

		 	 Kimble L. Jenkins

		 	 Chief Executive Officer

Accepted and agreed to as of this
3rd day of June, 2010. 

 

					
	 /s/ Parag V. Karmarkar
	 		 	
	 Parag V. KarmarkarForm of Non-Competition Agreement

 Exhibit 10.42 

SURGIVISION, INC. 

NON-COMPETITION AGREEMENT 

In consideration and as a condition of my employment (or my continued employment) with SurgiVision, Inc., or any of its
current or future subsidiaries, affiliates, successors or assigns (collectively, the “Company”), and in consideration of my receipt of the compensation now and hereafter paid to me by the Company, the undersigned (hereinafter
referred to as “Employee”) hereby acknowledges and agrees to the following: 
 1. Defined
Terms. For purposes of this Agreement, the following terms have the meanings specified or referred to in this Section 1: 

(a) “Conflicting Organization” means any individual or entity that, directly or indirectly, engages in,
or is about to become engaged in, Conflicting Research or the development, design, production, manufacture, promotion, marketing, sale, support or service of a Conflicting Product. 

(b) “Conflicting Product” means medical devices, goods, products, product lines or services, and each
and every component thereof, developed, designed, produced, manufactured, marketed, promoted, sold, supported or serviced, or that are in development or the subject of research, by anyone other than the Company that are the same or similar to,
perform any of the same or similar functions as, may be substituted for, or are intended or used for any of the same purposes as, a Company Product. 

(c) “Conflicting Research” means any research or development of any kind or nature conducted by anyone
other than the Company, which is intended for, or may be useful in, any aspect of the development, design, production, manufacture, marketing, promotion, sale, support or service of a Conflicting Product. 

(d) “Company Product” means any medical device, goods, products, product lines or services (i) that
during the last one (1) year in which Employee was employed by the Company, Employee, or persons under Employee’s management, direction or supervision, performed research regarding, designed, developed, produced, manufactured, marketed,
promoted, sold, solicited sales of, supported or serviced on behalf of the Company, or (ii) with respect to which Employee at any time received or otherwise obtained or learned Confidential Information. 

(e) “Restricted Area” means the United States of America or in any other country in which the Company
has received or applied for regulatory clearances or approvals for Company Products. 
 2. Efforts;
Non-Competition. Employee acknowledges that his or her employment with the Company requires his or her full attention and effort during normal business hours, and Employee will give his or her best effort, skill and inventive ability to the
business interests of 

 
the Company. During the term of his or her employment with the Company, Employee will not, directly or indirectly, participate in the management, operation, financing or control of, or be
employed by or consult for or otherwise render services to, any individual or entity that competes with the Company in the Restricted Area in the conduct of the business of the Company as conducted or as proposed to be conducted, nor will Employee
engage in any other activities that conflict with his or her obligations to the Company. 
 In addition, for a period of one
(1) year after the date his or her employment with the Company ends for any reason, Employee will not, directly or indirectly, participate in the management, operation, financing or control of, or be employed by or consult for or otherwise
render services to, any Conflicting Organization in the Restricted Area in connection with or relating to a Conflicting Product or Conflicting Research. 

3. No Conflicting Obligation. Employee represents and agrees that his or her performance of the provisions of this Agreement does
not, and will not, breach any agreement to keep in confidence information acquired by Employee in confidence or in trust prior to his or her employment by the Company. Employee agrees not to enter into any agreement, either written or oral, in
conflict herewith. 
 4. Reasonableness of Restrictions. Employee agrees that the restrictions on Employee’s
activities outlined in this Agreement are reasonable and necessary to protect the Company’s legitimate business interests, that the consideration provided by the Company is fair and reasonable, and that the post-employment restrictions on
Employee’s activities are fair and reasonable. 
 5. Injunctive Relief. Employee acknowledges and agrees that
failure to adhere to the terms of this Agreement will cause the Company irreparable damage for which monetary damages alone would be inadequate compensation. Therefore, Employee agrees that in addition to monetary damages, the Company will be
entitled to an injunction and other equitable relief, including ex parte injunctive relief, in the event of any breach or threatened breach (such threatened breach being determined in the sole judgment of the Company) of the provisions of
this Agreement. Employee waives the making of a bond or showing actual damages as a condition for obtaining injunctive relief. Such remedy shall not be deemed the exclusive remedy for the breach of this Agreement by Employee, but will be in addition
to all other remedies available at law or in equity to the Company. Additionally, if Employee breaches this Agreement, the Company will be entitled to its reasonable attorney’s fees and costs associated with enforcing this Agreement.
Notwithstanding any judicial determination that any provision of this Agreement is not specifically enforceable, the Company will nonetheless be entitled to recover monetary damages as a result of any breach by Employee. 

6. Governing Law. This Agreement will be governed by and construed in accordance with the internal laws of the state of Tennessee,
without giving any effect to that state’s conflict of laws principles. 
 7. Employment. Employee acknowledges and
agrees that this Agreement does not create an employment contract with the Company for any term, nor does it in any way limit the 

 
Company’s right to otherwise terminate Employee’s employment. Any change or changes in Employee’s duties, salary or compensation will not affect the validity or scope of this
Agreement. 
 8. Severability. Whenever possible, each provision of this Agreement will be interpreted in a manner to be
effective, valid and enforceable. If, however, any provision of this Agreement is held to be illegal, invalid or unenforceable under any present or future law, then such provision will be ineffective only to the extent of such prohibition or
invalidity, without invalidating or affecting in any manner whatsoever the remainder of such provision or the remaining provisions of this Agreement. Furthermore, there shall be added automatically as a part of this Agreement a provision as similar
in terms to such illegal, invalid, or unenforceable provision as may be possible and still have such similar provision be construed and enforced as legal, valid, and enforceable. 

9. Amendments; Waivers. No modification or amendment to this Agreement, nor any waiver of any rights under this Agreement, will be
effective unless in writing signed by the party to be charged. No waiver by the Company of any breach of this Agreement will be a waiver of any preceding or succeeding breach. 

10. Assignment. The Company may assign its rights under this Agreement. This Agreement, and the duties and obligations of Employee
hereunder, may not be assigned or delegated by Employee. 
 11. Survival. The terms of this Agreement, and
Employee’s duties and obligations hereunder, will survive any termination of Employee’s employment with the Company for any reason. 

12. Headings. Headings in this Agreement are for informational purposes only and will not be used to construe the intent of this
Agreement. 
 13. Entire Agreement. This Agreement constitutes the entire agreement and understanding between the Company
and Employee concerning the matters addressed herein. 
 14. Further Assurances. Employee will cooperate reasonably with
the Company in connection with any steps required to be taken as part of Employee’s obligations under this Agreement, and Employee will (a) execute and deliver to the Company such other documents, and (b) do such other acts and
things, in each case as the Company may reasonably request for the purpose of carrying out the provisions of this Agreement. 

 15. Acknowledgment. Employee acknowledges that he or she has received a copy of this
Agreement, which he or she has read and understood, and Employee voluntarily agrees to abide by its terms. Employee authorizes the Company to notify any future employer(s) of Employee of the terms of this Agreement and Employee’s obligations
hereunder. 
  

							
	  
	 		  	  

	Employee Signature	 		  	Date
			
	  
	 		  	
	Employee Name	 		  	
			
	Accepted by:	 		  	
			
	SurgiVision, Inc.	 		  	
				
	By:	 	  
	 		  	
				
	Name:	 	  
	 		  	
				
	Title:

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