Document:

GTC Biotherapeutics, Inc. Amended and Restated 2002 Equity Incentive Plan

 Exhibit 10.1 
  

	1.	First Adopted by Board of Directors on February 14, 2002. 

  

	2.	First Approved by Stockholders on May 22, 2002. 

  

	3.	Amended and Restated by Board of Directors on April 9, 2004. 

  

	4.	Approved by the Stockholders on May 26, 2004. 

  

	5.	Amended and Restated by Board of Directors on April 5, 2007. 

  

	6.	Approved by Stockholders on May 23, 2007. 

  

	7.	Amended by the Board of Directors on November 4, 2008. 

  

	8.	Approved by Stockholders on December 10, 2008. 

 GTC BIOTHERAPEUTICS, INC. 
 AMENDED AND RESTATED 2002 EQUITY INCENTIVE PLAN 
  

	1.	Purpose. 

 The purpose of the 2002 Equity
Incentive Plan as amended and restated (the “Plan”) of GTC Biotherapeutics, Inc. (f/k/a Genzyme Transgenics Corporation) is to attract, retain and motivate persons who are expected to make important contributions to the Company and
its Affiliates, to provide an incentive for them to achieve performance goals, and to enable them to participate in the growth of the Company by granting Awards with respect to the Company’s Common Stock. Certain capitalized terms are used
herein as defined in Section 9 below. 
  

	2.	Administration. 

 The Plan shall be
administered by the Committee; provided that the Board may (subject to any regulatory or exchange listing requirements) in any instance perform any of the functions of the Committee hereunder. The Committee shall select the Participants to receive
Awards and, subject to the provisions of the Plan, shall determine the terms and conditions of the Awards. The Committee shall have authority to adopt, alter and repeal such administrative rules, guidelines and practices governing the operation of
the Plan as it shall from time to time consider advisable, to interpret the provisions of the Plan, and to remedy any inconsistencies or ambiguities. The Committee’s decisions shall be final and binding. To the extent permitted by applicable
law, the Committee may delegate to one or more executive officers of the Company the power to make Awards to Participants who are not Reporting Persons or Covered Employees and all determinations under the Plan with respect thereto, provided that
the Committee shall fix the maximum amount of such Awards for all such Participants, a maximum for any one Participant, and such other features of the Awards as may be required by applicable law. 
  

	3.	Eligibility. 

 All directors, employees and
consultants of the Company or any Affiliate capable of contributing to the successful performance of the Company are eligible to be Participants in the Plan. Incentive Stock Options may be granted only to persons eligible to receive such Options
under the Code. 

	4.	Stock Available for Awards. 

 (a)
Amount. Subject to adjustment under Section 4(b), Awards may be made under the Plan for up to Eight Million Five Hundred Thousand (8,500,000) shares of Common Stock, plus (1) the number of additional shares of
Common Stock subject to awards under the Company’s Amended and Restated 1993 Equity Incentive Plan (the “1993 Plan”) which on or after April 2, 2004, expire or terminate unexercised or are forfeited or settled in a manner that
results in fewer shares outstanding than were awarded under the 1993 Plan, which number of additional shares will not exceed 2,178,388 shares (the maximum if all 1993 Plan shares become available), plus (2) an annual increment of
additional shares to be added on December 31 of each year (an “Increase Date”), beginning in 2008, equal to the lesser of (i) 1,500,000 shares or (ii) such other amount as may be determined by the Board;
provided, however, that in no event shall any such annual increment cause the total maximum aggregate number of shares of Common Stock which may be optioned and issued under the Plan to exceed the lesser of (a) 10% of the shares of Common Stock
deemed to be outstanding on the applicable Increase Date (including for this purpose on an as-converted basis all then outstanding convertible debt securities, and all shares of capital stock then outstanding, that are convertible into Common Stock
without payment of any additional consideration by the holder thereof) and (b) 15,000,000 shares (which number shall be subject to adjustment under Section 4(b))}; and provided further that no more than 10% of the maximum number
of shares to be issued under the Plan may be granted as Restricted Stock or Unrestricted Stock Awards. For purposes of calculating such percentage limitation on Restricted Stock and Unrestricted Stock Awards, the following Awards shall be
disregarded: (i) any Award that is granted for consideration of at least 100% of the Fair Market Value of the Common Stock on the date of the respective grant (including Awards granted in lieu of the payment of cash bonuses that would be
consistent in amount with past cash bonus practices), and (ii) Awards that are subject to performance-based vesting (including Awards subject to Section 8(k)). If any Award made under the Plan expires or terminates
unexercised or is forfeited or settled in a manner that results in fewer shares outstanding than were awarded, the shares subject to such Award, to the extent of such expiration, termination, forfeiture or decrease, shall again be available for
award under the Plan. Common Stock issued outside of the Plan through the assumption or substitution of outstanding grants from an acquired company shall not reduce the shares available for Awards under the Plan. Shares issued under the Plan may
consist of authorized but unissued shares or treasury shares. 
 (b) Adjustment. In the event that the Committee determines
that any stock dividend, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, exchange of shares or other transaction affects the Common Stock such that an adjustment is required in
order to preserve the benefits intended to be provided by the Plan, then the Committee shall (subject in the case of Incentive Stock Options to any limitation required under the Code) equitably adjust any or all of (i) the number and kind of
shares in respect of which Awards may be made under the Plan, (ii) the number and kind of shares subject to outstanding Awards and (iii) the exercise price with respect to any of the foregoing, provided that the number of shares subject to
any Award shall always be a whole number, and if considered appropriate, the Committee may make provision for a cash payment with respect to an outstanding Award. 
  

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 (c) Limit on Individual Grants. The maximum number of shares of Common Stock that may be
granted in connection with all Awards within any fiscal year to any one Covered Employee under the Plan shall not exceed 400,000 shares, except for grants to new hires during the fiscal year of hiring which shall not exceed 600,000 shares, in each
case subject to adjustment under Section 4(b). 
  

	5.	Stock Options. 

 (a) Grant of
Options. Subject to the provisions of the Plan, the Committee may grant options (“Options”) to purchase shares of Common Stock (i) complying with the requirements of Section 422 of the Code or any successor
provision and any regulations thereunder (“Incentive Stock Options”) or (ii) not intended to comply with such requirements (“Nonstatutory Stock Options”). The Committee shall determine the number of shares
subject to each Option and the exercise price therefor, which shall not be less than 100% of the Fair Market Value of the Common Stock on the date of grant; provided that a Nonstatutory Stock Option granted to a new employee or consultant in
connection with his or her hiring may have a lower exercise price so long as it is not less than 100% of Fair Market Value on the date he or she accepts the Company’s offer of employment or the date employment commences, whichever is lower. No
Option shall be an Incentive Stock Option if not granted within ten years from the date on which the Plan or an amendment thereto was last approved for purposes of Section 422 of the Code (the date of such approval being the date on which the
Plan or the respective amendment was approved by the Board or the stockholders, whichever was earlier). 
 (b) Terms and
Conditions. Subject to the provisions of the Plan, each Option shall be exercisable at such times and subject to such terms and conditions as the Committee may specify in the applicable grant or thereafter. The Committee may impose such
conditions with respect to the exercise of Options, including conditions relating to applicable securities laws, as it considers necessary or advisable. 
 (c) Payment. No shares shall be delivered upon exercise of any Option until payment in full of the exercise price therefor is received by the Company. Such payment may be made in whole or in part in cash
or, to the extent permitted by the Committee at or after the grant of the Option pursuant to any of the following methods: (i) by actual delivery or attestation of ownership of shares of Common Stock owned by the Participant, including vested
Restricted Stock, (ii) by retaining shares of Common Stock otherwise issuable pursuant to the Option, (iii) for consideration received by the Company under a broker-assisted cashless exercise program acceptable to the Company, or
(iv) for such other lawful consideration as the Committee may determine. 
 (d) Term of Option. The term of each Option
granted under this Section 5 shall not exceed ten years from the date the Option is granted. 
  

	6.	Stock Equivalents. 

 Subject to the
provisions of the Plan, the Committee may grant rights to receive payment from the Company based in whole or in part on the value of the Common Stock (“Stock Equivalents”) upon such terms and conditions as the Committee determines.
Stock Equivalents may include without limitation phantom stock, restricted stock units, unrestricted stock units, performance units, dividend 

  

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equivalents and stock appreciation rights (“SARs”). SARs granted in tandem with an Option will terminate to the extent that the related
Option is exercised, and the related Option will terminate to the extent that the tandem SARs are exercised. An SAR will have an exercise price determined by or in the manner specified by the Committee of not less than 100% of the Fair Market Value
of the Common Stock on the date of the grant, or of not less than the exercise price of the related Option in the case of an SAR granted in tandem with an Option. The Committee will determine at the time of grant or thereafter whether Stock
Equivalents are to be settled in cash, Common Stock or other securities of the Company, Awards or other property. 
  

	7.	Stock Awards. 

 Subject to the provisions of
the Plan, the Committee may grant shares of Common Stock subject to forfeiture (“Restricted Stock”) and determine the duration of the period (the “Restricted Period”) during which, and the conditions under which,
the shares may be forfeited to the Company and the other terms and conditions of such Awards. Shares of Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered, except as permitted by the Committee, during the
Restricted Period. Shares of Restricted Stock shall be evidenced in such manner as the Committee may determine. Any certificates issued in respect of shares of Restricted Stock shall be registered in the name of the Participant and unless otherwise
determined by the Committee, deposited by the Participant, together with a stock power endorsed in blank, with the Company. At the expiration of the Restricted Period, the Company shall deliver such certificates to the Participant or if the
Participant has died, to the Participant’s Designated Beneficiary. Subject to the provisions of the Plan, the Committee also may make Awards of shares of Common Stock that are not subject to restrictions or forfeiture, on such terms and
conditions as the Committee may determine from time to time (“Unrestricted Stock”). 
  

	8.	General Provisions Applicable to Awards. 

 (a) Documentation. Each Award under the Plan shall be evidenced by a writing delivered to the Participant or agreement executed by the Participant specifying the terms and conditions thereof and containing such other
terms and conditions not inconsistent with the provisions of the Plan as the Committee considers necessary or advisable to achieve the purposes of the Plan or to comply with applicable tax and regulatory laws and accounting principles. Subject to
the provisions of the Plan, the terms of any Award may include such continuing restrictions and forfeiture and/or other penalty provisions relating to competition or other activity detrimental to the Company as the Committee determines. 

(b) Committee Discretion. Each type of Award may be made alone, in addition to or in relation to any other Award. The terms of
each type of Award need not be identical, and the Committee need not treat Participants uniformly. Except as otherwise provided by the Plan or a particular Award, any determination with respect to an Award may be made by the Committee at the time of
grant or at any time thereafter. 
 (c) Dividend, Cash Awards and Loans. Subject to the provisions of the Plan, in the
discretion of the Committee, any Award under the Plan may provide for (i) dividends or dividend equivalents payable (in cash or in the form of Awards under the Plan) 

  

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currently or deferred with or without interest and (ii) cash payments in lieu of or in addition to an Award or (iii) one or more loans to a
Participant (other than a Participant who is a director or executive officer for purposes of Section 13(k) of the Exchange Act) to permit exercise of, or the payment of any tax liability with respect to, any Award. 
 (d) Termination of Service. The Committee shall determine the effect on an Award of the disability, death, retirement or other
termination of employment or other service of a Participant and the extent to which, and the period during which, the Participant’s legal representative, guardian or Designated Beneficiary may receive payment of an Award or exercise rights
thereunder. Unless the Committee otherwise provides in any case, a Participant’s employment or other service shall have terminated for purposes of this Plan at the time the entity by which the Participant is employed or to which he or she
renders such service ceases to be an Affiliate of the Company. 
 (e) Change-in-Control. In order to preserve a
Participant’s rights under an Award in the event of a change in control of the Company (as defined by the Committee), the Committee in its discretion may, at the time an Award is made or at any time thereafter, take one or more of the following
actions: (i) provide for the acceleration of any time period relating to the exercise or payment of the Award, (ii) provide for payment to the Participant of cash or other property with a Fair Market Value equal to the amount that would
have been received upon the exercise or payment of the Award had the Award been exercised or paid upon the change-in-control, (iii) adjust the terms of the Award in a manner determined by the Committee to reflect the change in control,
(iv) cause the Award to be assumed, or new rights substituted therefor, by another entity, or (v) make such other provision as the Committee may consider equitable to Participants and in the best interests of the Company. 
 (f) Transferability. In the discretion of the Committee, any Award may be made transferable upon such terms and conditions and to such
extent as the Committee determines, provided that Incentive Stock Options may be transferable only to the extent permitted by the Code. The Committee may in its discretion waive any restriction on transferability. 
 (g) Withholding Taxes. The Participant shall pay to the Company, or make provision satisfactory to the Committee for payment of, any
taxes required by law to be withheld in respect of Awards under the Plan no later than the date of the event creating the tax liability. The Company and its Affiliates may, to the extent permitted by law, deduct any such tax obligations from any
payment of any kind due to the Participant hereunder or otherwise. In the Committee’s discretion, the minimum tax obligations required by law to be withheld in respect of Awards may be paid in whole or in part in shares of Common Stock,
including shares retained from the Award creating the tax obligation, valued at their Fair Market Value on the date of retention or delivery. 
 (h) Foreign National Awards. Notwithstanding anything to the contrary contained in this Plan, Awards may be made to Participants who are foreign nationals or employed or performing services outside the United States on
such terms and conditions different from those specified in the Plan as the Committee considers necessary or advisable to achieve the purposes of the Plan or to comply with applicable laws. 
  

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 (i) Amendment of Award. Except as provided in Section 8(j) and
Section 8(l), the Committee may amend, modify, or terminate any outstanding Award, including substituting therefor another Award of the same or a different type, changing the date of exercise or realization and converting an Incentive Stock
Option to a Nonstatutory Stock Option. Any such action shall require the Participant’s consent unless: 
 (i) in the case of a
termination of, or a reduction in the number of shares issuable under, an Option, any time period relating to the exercise of such Option or the eliminated portion, as the case may be, is waived or accelerated before such termination or reduction
(and in such case the Committee may provide for the Participant to receive cash or other property equal to the net value that would have been received upon exercise of the terminated Option or the eliminated portion, as the case may be); 

(ii) the Committee determines that the action is permitted by the terms of Section 8(k); 
 (iii) the Committee determines that the action is reasonably necessary to comply with any regulatory, accounting, or exchange or stock market listing
requirement; or 
 (iv) in any other case, the Committee determines that the action, taking into account any related action, would not
materially and adversely affect the Participant. 
 (j) No Repricing of Options. Notwithstanding anything to the contrary in
the Plan, the Company shall not engage in any repricing of Options granted under this Plan without further stockholder approval. For this purpose, the term “repricing” shall mean any of the following or other action that has the same
effect: (i) lowering the exercise price of an Option after it is granted, (ii) any other action that is treated as a repricing under generally accepted accounting principles, or (iii) canceling an Option at a time when its exercise
price exceeds the fair market value of the underlying stock in exchange for another Option, Restricted Stock, or other equity of the Company, unless the cancellation and exchange occurs in connection with a merger, acquisition, spin-off, or similar
corporate transaction. 
 (k) Code Section 162(m) Provisions. If the Committee determines at the time an Award is granted
to a Participant that such Participant is, or may be as of the end of the tax year for which the Company would claim a tax deduction in connection with such Award, a Covered Employee, then the Committee may provide that the Participant’s right
to receive cash, shares of Common Stock, or other property pursuant to such Award shall be subject to the satisfaction of Performance Goals during a Performance Period. Prior to the payment of any Award subject to this Section 8(k), the
Committee shall certify in writing that the Performance Goals and other material terms applicable to such Award were satisfied. Notwithstanding the attainment of Performance Goals by a Covered Employee, the Committee shall have the right to reduce
(but not to increase) the amount payable at a given level of performance to take into account additional factors that the Committee may deem relevant. The Committee shall have the power to impose such other restrictions on Awards subject to this
Section 8(k) as it may deem necessary or appropriate to ensure that such Awards satisfy all requirements for “performance-based compensation” within the meaning of Section 162(m) of the Code. 
  

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 (l) Minimum Vesting Requirements. Each Award under the Plan shall vest in accordance with a
schedule which does not permit more than one-third of each such Award to vest on each of the three succeeding anniversaries of the date of grant of the Award. This minimum vesting requirement shall not, however, preclude the Committee from
exercising its discretion to (i) accelerate the vesting of any Award upon retirement, termination of employment by the Company, death, or disability, (ii) accelerate the vesting of an Award in accordance with Section 8(e),
(iii) establish a shorter vesting schedule for consultants, directors, or newly-hired employees, (iv) establish a shorter vesting schedule for Awards that are granted in exchange for or in lieu of the right to receive the payment of an
equivalent amount of salary, bonus, or other cash compensation, (v) establish a shorter performance-based vesting schedule, including a schedule in accordance with Section 8(k) or (vi) grant Awards of Unrestricted Stock in accordance
with Section 7. 
  

	9.	Certain Definitions. 

 “Affiliate” means any business entity in which the Company owns directly or indirectly 50% or more of the total voting power or has another significant financial interest as determined by the Committee. 
 “Award” means any Option, Stock Equivalent, Restricted Stock, Unrestricted Stock, or Foreign National Award granted under the Plan.

 “Board” means the Board of Directors of the Company. 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time, or any successor law. 
 “Committee” means any committee of one or more directors appointed by the Board to administer the Plan or a specified portion thereof.
Unless otherwise determined by the Board, if a Committee is authorized to grant Awards to a Reporting Person or a Covered Employee it shall be comprised of not less than two directors, each of whom shall be a “non-employee director” within
the meaning of Rule 16b-3 under the Exchange Act or an “outside director” within the meaning of Section 162(m) of the Code, respectively. 
 “Common Stock” or “Stock” means the Common Stock, $0.01 par value, of the Company. 
 “Company” means GTC Biotherapeutics, Inc., a Massachusetts corporation and, unless the context otherwise requires, includes each “subsidiary corporation” of GTC Biotherapeutics, Inc., as
defined in Section 424(f) of the Code, from time to time. 
 “Covered Employee” means, at any time that
Section 162(m) of the Code applies to the Company, a “covered employee” within the meaning of such section. 
 “Designated Beneficiary” means the beneficiary designated by a Participant, in a manner determined by the Committee, to receive amounts due or exercise rights of the Participant in the event of the Participant’s death.
In the absence of an effective designation by a Participant, “Designated Beneficiary” means the Participant’s estate. 
  

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 “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time,
or any successor law. 
 “Fair Market Value” means, with respect to Common Stock or any other property, the fair market
value of such property as determined by the Committee in good faith or in the manner established by the Committee from time to time. 
 “Non-Employee Director” means a director of the Company who is not an employee of the Company or of any subsidiary of the Company. 
 “Participant” means a person selected by the Committee to receive an Award under the Plan. 
 “Performance Goals” means with respect to any Performance Period, one or more objective performance goals based on one or more of the following objective criteria established by the Committee prior to the beginning of such
Performance Period or within such period after the beginning of the Performance Period as shall meet the requirements to be considered “pre-established performance goals” for purposes of Code Section 162(m): (i) increases in the
price of the Common Stock, (ii) product or service sales or market share, (iii) revenues, (iv) return on equity, assets, or capital, (v) economic profit (economic value added), (vi) total stockholder return,
(vii) costs, (viii) expenses, (ix) margins, (x) earnings or earnings per share, (xi) cash flow, (xii) cash balances (xiii) customer satisfaction, (xiv) operating profit, (xv) research and development
progress, (xvi) clinical trial progress, (xvii) licensing, (xviii) product development, (xix) manufacturing, or (xx) any combination of the foregoing, including without limitation, goals based on any of such measures
relative to appropriate peer groups or market indices. Such Performance Goals may be particular to a Participant or may be based, in whole or in part, on the performance of the division, department, line of business, subsidiary, or other business
unit, whether or not legally constituted, in which the Participant works or on the performance of the Company generally. 
 “Performance Period” means the period of service designated by the Committee applicable to an Award subject to Section 8(k) during which the Performance Goals will be measured. 
 “Reporting Person” means a person subject to Section 16 of the Exchange Act. 
  

	10.	Miscellaneous. 

 (a) No Right to
Employment. No person shall have any claim or right to be granted an Award. Neither the adoption, maintenance, nor operation of the Plan nor any Award hereunder shall confer upon any employee or consultant of the Company or of any
Affiliate any right with respect to the continuance of his/her employment by or other service with the Company or any such Affiliate nor shall they interfere with the rights of the Company or Affiliate to terminate any employee at any time or
otherwise change the terms of employment, including, without limitation, the right to promote, demote or otherwise re-assign any employee from one position to another within the Company or any Affiliate. 
  

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 (b) No Rights as Stockholder. Subject to the provisions of the applicable Award, no
Participant or Designated Beneficiary shall have any rights as a stockholder with respect to any shares of Common Stock to be issued under the Plan until he or she becomes the holder thereof. A Participant to whom Common Stock is awarded shall be
considered a stockholder of the Company at the time of the Award except as otherwise provided in the applicable Award. 
 (c) Amendment
of Plan. Subject to Section 8(j) and Section 8(l), the Board may amend, suspend, or terminate the Plan or any portion thereof at any time, subject to such stockholder approval as the Board determines to be necessary or
advisable. 
 (d) Governing Law. The provisions of the Plan shall be governed by and interpreted in accordance with the
laws of the Commonwealth of Massachusetts. 
 (e) Effective Date and Term of Plan. The Plan has been approved most recently by
the stockholders of the Company on May 23, 2007. This amendment of the Plan shall be effective the date it is approved by the stockholders of the Company. Unless earlier terminated by the Board, or extended by approval of the stockholders, the
term of the Plan shall expire on the tenth anniversary of the effective date of the most recent stockholder approval for purposes of Section 422 of the Code and the regulations thereunder, and no further Awards hereunder shall be made
thereafter. 
 * * * * 
  

 9GTC Biotherapeutics, Inc. December 2008 Retention Plan

 Exhibit 10.2 
 GTC BIOTHERAPEUTICS, INC. 
 DECEMBER 2008 RETENTION PLAN 
 1. Purpose. This GTC Biotherapeutics, Inc. December 2008 Retention Plan (this “Plan”) has been established by GTC Biotherapeutics, Inc. for key
employees of the Company designated to be Participants under this Plan. The purpose of this Plan is to provide further incentive to Participants to remain in the employ of the Company. This Plan is designed to use specific Awards of Options under
the Company’s 2002 Equity Incentive Plan (the “Equity Plan”). 
 2. Definitions. All terms not otherwise defined in this Plan shall
have the meanings ascribed to them under the Equity Plan. In addition, for purposes of this Plan: 
 (a) “Cause” shall have
the meaning given to such term in any employment or severance agreement between the Company and the Participant in effect at the time of the termination of employment. In the event no such agreement is in effect, “Cause” means
(i) the Participant’s breach of any material duty or obligation to the Company after written notice of such breach has been given to the Participant by the Board or Chief Executive Officer of the Company and such breach shall have
continued for thirty (30) days after receipt of such notice, or (ii) intentional or grossly negligent conduct that is materially injurious to the Company, or (iii) intentional failure to follow the reasonable directions of the Board
of Directors or Chief Executive Officer after written notice of such failure has been given to the Participant and such failure shall have continued for thirty (30) days after receipt of such notice. 
 (b) “Effective Date” means December 10, 2008 or such later date on or before the date of the 2009 annual meeting of shareholders of
the Company that the shareholders of the Company approve an increase of at least 2,000,000 in the number of shares reserved for Awards under the Equity Plan (“Shareholder Approval”). 
 (c) “Participant” means an employee of the Company who participates in this Plan in accordance with Section 4 hereof. The employees
of the Company eligible to participate in this Plan will be those who as of the Effective Date hold the title of President, Senior Vice President, Vice President, Senior Director, Director or Associate Director, or are otherwise designated by the
Committee. 
 3. Administration. 
 (a)
This Plan shall be administered by the Committee, which shall have complete authority to determine who shall participate herein and the amount of all Awards granted to Participants, to interpret this Plan, to prescribe, amend and rescind rules and
regulations relating to it, and to make all other determinations necessary or advisable for the administration of this Plan. 
 (b) The
Committee is authorized, on behalf of this Plan, to engage accountants, legal counsel and such other personnel as it deems necessary or advisable to assist it in the performance of its duties under this Plan. All reasonable expenses thereof shall be
borne by the Company. 

 (c) All decisions made by the Committee pursuant to the provisions of this Plan shall be final,
conclusive and binding on all persons, including the Company and the Participants. No member of the Board or the Committee, nor any officer or employee of the Company acting on behalf of the Board or the Committee, shall be personally liable for any
action, determination, or interpretation taken or made in good faith with respect to this Plan, and all members of the Board or the Committee and each and any officer or employee of the Company acting on their behalf shall, to the extent permitted
by law, be fully indemnified and protected in respect of any such action, determination or interpretation. 
 (d) The Committee may delegate
any of its duties hereunder to such person or persons as it may designate from time to time. 
 4. Participation. The Committee shall, in its sole
discretion, select the employees of the Company who shall participate in this Plan. As a condition to participation in this Plan, each such employee shall execute a document, in such form as the Committee may require, acknowledging his or her
participation in this Plan. 
 5. Retention Option Awards The Company shall make Awards of Options pursuant to the 2002 Equity Incentive Plan
to each Participant in an amount determined by the Committee for the Participant. The Options will have an exercise price per share equal to the higher of (A) $0.31 or (B) the closing price (namely the last sale price during regular
trading hours as reported by Nasdaq to news publications as the “closing price”) of the Company’s Common Stock on the Nasdaq Global Market on the effective date of Shareholder Approval. The Stock Options shall be awarded on the later
of the Effective Date or the date of the Award. The Options awarded hereunder to each participant shall become exercisable (a) as to 50% of the option shares on September 30, 2009, and (b) as to 50% of the option shares on
June 30, 2010, so long as with respect to each percentage of the Option Shares the Participant is still employed by the Company on the date it is to become exercisable; provided, however, that in the event the Company terminates the
Participant’s employment without Cause prior to either such date, all Options awarded to the Participant under this Plan shall become fully exercisable on the date of the Participant’s termination of employment. In addition, all Options
awarded to each Participant under this Plan shall become fully exercisable upon a change in control of the Company (other than pursuant to the convertible note and warrants to be issued to LFB Biotechnologies S.A.S.U. pursuant to its agreement with
the Company dated as of October 31, 2008). The other terms and conditions of the Option Awards shall be set forth in the form of Incentive Stock Option Certificate or Non-statutory Stock Option Certificate, as the case may be, approved by the
Committee and issued by the Company for use under this Plan.  
 6. General Provisions. 
 (a) Compliance with Legal Requirements. This Plan and the obligations of the Company under this Plan shall be subject to all applicable federal and
state laws, rules and regulations, and to such approvals by any regulatory or governmental agency as may be required. 
  

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 (b) Nontransferability. No Participant shall have the right to alienate, anticipate, commute,
pledge, encumber or assign any of the benefits or payments which he or she may expect to receive, contingently or otherwise, under this Plan. 
 (c) No Right to Continued Employment. No person shall have any claim or right to be granted a Stock Option Award . Neither the adoption, maintenance, nor operation of this Plan nor any retention incentive award hereunder shall confer
upon any employee of the Company any right with respect to the continuance of his/ her employment by or other service with the Company nor shall they interfere with the rights of the Company to terminate any employee at any time or otherwise change
the terms of employment, including, without limitation, the right to promote, demote or otherwise re-assign any employee from one position to another within the Company. 
 (d) Effect on Other Benefits. Amounts paid or payable hereunder shall not be treated as compensation for purposes of determining benefit amounts or accruals under any employee pension or benefit plan, program
or arrangement maintained by the Company. 
 (e) Severability. If any provision of this Plan shall be held invalid or unenforceable,
such invalidity or unenforceability shall not affect any other provisions hereof, and this Plan shall be construed and enforced as if such provisions had not been included. 
 (f) Successors. This Plan shall be binding upon the heirs, executors, administrators, successors and assigns of the parties, including each
Participant and any successor to the Company. 
 (g) Construction. The headings and captions herein are provided for reference and
convenience only, shall not be considered part of this Plan, and shall not be used in the construction of this Plan. 
 (h) Amendment,
Termination and Duration of this Plan. The Committee may at any time and from time to time alter, amend, suspend, or terminate this Plan in whole or in part. 
 (i) Governing Law. This Plan and all determinations made and actions taken pursuant hereto shall be governed by the laws of the Commonwealth of Massachusetts without giving effect to the conflict of laws
principles thereof. 
 Effective as of December 10, 2008 
  

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