Document:

Exhibit 10.2

Exhibit 10.2

Execution Copy

REGISTRATION RIGHTS AGREEMENT

This Registration Rights Agreement (the “Agreement”) is made and entered into as of this
December 29, 2009, by and among Osteologix, Inc., a Delaware corporation (the “Company”), and the
“Holders” executing this Agreement and named in that certain Purchase Agreement by and among the
Company and the Holders dated the date hereof (the “Purchase Agreement”).

The parties hereby agree as follows:

1. Certain Definitions.

As used in this Agreement, the following terms shall have the following meanings:

“Affiliate” means, with respect to any person, any other person which directly or indirectly
controls, is controlled by, or is under common control with, such person.

“Affiliated Holder” means Nordic Biotech Opportunity Fund K/S, and any successor and assigns
or permitted transferee of the Affiliated Holder who is a subsequent holder of any Registrable
Securities transferred by the Affiliated Holder.

“Business Day” means a day, other than a Saturday or Sunday, on which banks in New York City
and San Francisco, California are open for the general transaction of business.

“Common Stock” means the Company’s common stock, par value $0.0001 per share, and any
securities into which such shares may hereinafter be reclassified.

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder.

“Holders” means collectively, the Purchasers and the Affiliated Holder.

“Major Purchaser” means any Holder (other than the Affiliated Holder) that purchased 500,000
Shares, or more, pursuant to the Purchase Agreement. For purposes of this Agreement, the Shares
purchased by a Holder shall include the Shares of all of its related persons that have also
purchased Shares under the Purchase Agreement.

“Offering” means the purchase and sale of Shares pursuant to the Purchase Agreement.

“Purchasers” means the Purchasers identified in the Purchase Agreement (other than the
Affiliated Holder) and any successor and assigns or permitted transferee of any Purchaser who is a
subsequent holder of any Registrable Securities.

 

 

 

“Prospectus” means the prospectus included in any Registration Statement (including, without
limitation, a prospectus that includes any information previously omitted from a prospectus filed
as part of an effective registration statement in reliance upon Rule 430A
promulgated under the Securities Act), as amended or supplemented by any prospectus
supplement, with respect to the terms of the offering of any portion of the Registrable Securities
covered by such Registration Statement and by all other amendments and supplements to the
Prospectus, including post-effective amendments and all material incorporated by reference or
deemed to be incorporated by reference in such Prospectus.

“Register,” “registered” and “registration” refer to a registration made by preparing and
filing a Registration Statement or similar document in compliance with the Securities Act (as
defined below), and the declaration or ordering of effectiveness of such Registration Statement or
document.

“Registrable Securities” means (i) the Shares, and (ii) any other securities issued or
issuable with respect to or in exchange for the Shares; provided, that a security held by
Holder shall cease to be a Registrable Security upon (A) a sale by such Holder pursuant to a
Registration Statement or Rule 144 under the Securities Act or (B) such security becoming eligible
for sale by such Holder pursuant to Rule 144 without volume limitations.

“Registration Statement” means any registration statement or statements of the Company filed
under the Securities Act and (in each case) the Prospectus that covers the resale of any of the
Registrable Securities pursuant to the provisions of this Agreement (including each of the
Registration Statements referred to in Section 2), amendments and supplements to each such
Registration Statement and Prospectus, including pre- and post-effective amendments, all exhibits
and all material filed and incorporated by reference or deemed to be incorporated by reference in
each such Registration Statement.

“Required Holders” means the Holders holding a majority of the Registrable Securities.

“Required Purchasers” mean the Purchasers holding a majority of the Registrable Securities
then owned by the Purchasers.

“Rule 416” and “Rule 429” mean “Rule 416” and “Rule 429,” respectively, each as promulgated by
the SEC pursuant to the Securities Act, as either such Rule may be amended from time to time, or
any similar rule or regulation hereafter adopted by the SEC having substantially the same effect as
such Rule.

“SEC” means the U.S. Securities and Exchange Commission.

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations
promulgated thereunder.

“Shares” means the shares of Common Stock issued to the Holders pursuant to the Purchase
Agreement and any shares of Common Stock issued or issuable to the Holders upon any stock split,
dividend or other distribution, recapitalization or similar event with respect to the foregoing.

 

2

 

2. Registration.

(a) Initial Registration Statement. Promptly following the closing of the purchase
and sale of the securities contemplated by the Purchase Agreement (the “Closing Date”), and subject
to the purchase and sale of Shares in the Offering by Persons other than Affiliated Holder with an
aggregate purchase price of at least $1,000,000, but in any event no later than ten (10) days after
the deadline for filing the Company’s Form 10-K for the year ended December 3, 2008 with the SEC
(the “Filing Deadline”), the Company shall prepare and file with the SEC a Registration Statement
covering the resale by the Purchasers of all Registrable Securities then held by the Purchasers.
Such Registration Statement shall be on Form S-1 or Form S-3, as available (the “Registration
Statement”), or other appropriate form in accordance herewith and shall include the plan of
distribution attached hereto as Exhibit A (except as otherwise directed by the Purchasers).
Such Registration Statement also shall cover, to the extent allowable under the Securities Act
(including Rule 416), such indeterminate number of additional shares of Common Stock resulting from
stock splits, stock dividends or similar transactions with respect to the Registrable Securities.
Such Registration Statement shall not include any shares of Common Stock or other securities for
the account of any holder without the prior written consent of the Required Purchasers, except for
shares of Common Stock held by the Company’s stockholders (other than the Affiliated Holder) having
“piggyback” registration rights expressly set forth in registration rights agreements entered into
by the Company prior to the date hereof. A copy of the initial filing of the Registration
Statement (and each pre-effective amendment thereto) shall be provided to the Purchasers and their
counsel at least three (3) Business Days prior to filing. If the Registration Statement covering
the Registrable Securities is not filed with the SEC on or prior to the Filing Deadline (or if it
is filed without giving the Purchasers the opportunity to review and comment on the same as
required above, the Company shall not be deemed to have satisfied such filing requirement), then in
addition to any other rights each Purchaser may have hereunder or under applicable law, the Company
will pay (i) an amount in cash to each Purchaser other than the Affiliated Holder, as partial
liquidated damages and not as a penalty, equal to 1.0% of the aggregate purchase price paid for
Registrable Securities by such Purchaser pursuant to the Purchase Agreement up to a maximum amount
of all liquidated damages payable under this Agreement to any Purchaser of 10% of the purchase
price paid for Registrable Securities by such Purchaser pursuant to the Purchase Agreement and (ii)
for each thirty- (30) day period or pro rata for any portion thereof following the Filing Deadline
for which the Registration Statement has not been filed or reviewed pursuant to the terms hereof,
an amount in cash to each Purchaser other than the Affiliated Holder, as partial liquidated damages
and not as a penalty, equal to 1.0% of the aggregate purchase price paid for Registrable Securities
by such Purchaser pursuant to the Purchase Agreement up to a maximum amount of all liquidated
damages payable under this Agreement to any Purchaser of 10% of the purchase price paid for
Registrable Securities by such Purchaser pursuant to the Purchase Agreement. The amounts payable
as partial liquidated damages pursuant to this paragraph shall be paid within three (3) Business
Days of the Filing Deadline and monthly thereafter within three (3) Business Days of the last day
of each month following the commencement of the Filing Deadline until the Registration Statement
has been reviewed by the Purchasers and filed with the SEC as required herein. If the Company
fails to pay any partial liquidated damages pursuant to this section in full within seven (7)
calendar days after the date payable, the Company will pay interest thereon at a rate of 12% per
annum (or such lesser amount that is permitted to be paid by applicable law) to the Purchaser,
accruing daily from the date such payments are due until such
amounts, plus all such interest thereon, are paid in full. Payments to be made pursuant to
Section 2(a)(ii) shall apply on a daily pro-rata basis for any portion of a month prior to the
review and filing of the Registration Statement required herein. All payments shall be in
immediately available cash funds. In all cases, regardless of whether a Registration Statement has
been declared effective, no liquidated damages shall accrue or be payable with respect to
securities that are eligible for sale under Rule 144 without volume limitations.

 

3

 

(b) Registration by the Affiliated Holder. At any time after the earlier of the date
that is six (6) months after the Closing Date and thirty (30) days after the date of effectiveness
of any Registration Statement filed in accordance with Section 2(a) herein, each Affiliated Holder
may request, no more than one time, that the Company shall prepare and file with the SEC, a
Registration Statement covering the resale by such Affiliated Holder of all Registrable Securities
then held by such Affiliated Holder. Promptly following any such request but no later than thirty
(30) Business Days after such request, the Company shall prepare and file with the SEC a
Registration Statement covering the resale by such Affiliated Purchaser of all Registrable
Securities then held by such Affiliated Purchaser; provided, that the Company shall not be
required to file any Registration Statement under this Section 2(b) if the filing of such
Registration Statement would cause the Company to file financial statements in advance of the date
that the Company would have otherwise been required to file such financial statements under the
Exchange Act. Such Registration Statement shall be on Form S-1 or Form S-3, as available, or other
appropriate form in accordance herewith and shall include the plan of distribution attached hereto
as Exhibit A (except as otherwise directed by such Affiliated Holder). Such Registration
Statement also shall cover, to the extent allowable under the Securities Act (including Rule 416),
such indeterminate number of additional shares of Common Stock resulting from stock splits, stock
dividends or similar transactions with respect to the Registrable Securities. Such Registration
Statement shall not include any shares of Common Stock or other securities for the account of any
holder without the prior written consent of the Affiliated Purchaser that requested such
Registration Statement under this Section 2(b). A copy of the initial filing of the Registration
Statement (and each pre-effective amendment thereto) shall be provided to the Affiliated Purchaser
and their counsel at least three (3) Business Days prior to filing. Notwithstanding the foregoing,
(i) if the board of directors of the Company determines in good faith that any such registration
would be materially detrimental to the Company, the Company may defer such registration for no more
than ninety (90) days in any twelve (12) month period. Further, notwithstanding any other
agreement between an Affiliated Holder and the Company, each Affiliated Holder agrees that it will
not elect to cause the Company to register any other securities held by such Affiliated Holder for
resale prior to the date set forth in this Section 2(b).

(c) Expenses. The Company will pay all expenses associated with each registration,
including filing and printing fees, the Company’s counsel and accounting fees and expenses, costs
associated with clearing the Registrable Securities for sale under applicable state securities
laws, listing fees, reasonable out-of-pocket fees and expenses of one counsel to all Major
Purchasers (which fees and expenses shall not exceed $15,000) and the Major Purchasers’ reasonable
out-of-pocket expenses in connection with the registration, but excluding discounts, commissions,
fees of underwriters, selling brokers, dealer managers or similar securities industry professionals
with respect to the Registrable Securities being sold.

 

4

 

(d) Additional Registration Statements. If at any time the SEC takes the position
that the offering of some or all of the Registrable Securities in a Registration Statement is not
eligible to be made on a delayed or continuous basis under the provisions of Rule 415 or requires
any Purchaser in connection with a Registration Statement filed under Section 2(a) or the
Affiliated Holder in connection with a Registration Statement filed under Section 2(b) to be named
as an “underwriter,” the Company shall use its commercially reasonable efforts to persuade the SEC
that the offering contemplated by the Registration Statement is a valid secondary offering and not
an offering “by or on behalf of the issuer” as defined in Rule 415 and that none of the Purchasers
or the Affiliated Holder, as the case may be, is an “underwriter.” The Purchasers or the
Affiliated Holder, as applicable, shall have the right to participate or have their counsel
participate in any meetings or discussions with the SEC regarding the SEC’s position and to comment
or have their counsel comment on any written submission made to the SEC with respect thereto. No
such written submission shall be made to the SEC to which the Purchasers’ or Affiliated Holder’s
counsel, as applicable, reasonably objects, which determination shall be made in the sole
discretion of the Company and its counsel. In the event that, despite the Company’s commercially
reasonable efforts and compliance with the terms of this Section 2(d), the SEC refuses to alter its
position, the Company shall remove from the Registration Statement such portion of the Registrable
Securities (the “Cut Back Shares”) and/or agree to such restrictions and limitations on the
registration and resale of the Registrable Securities as the SEC may require to assure the
Company’s compliance with the requirements of Rule 415; provided, however, that the
Company shall not agree to name any Purchaser or the Affiliated Holder as an “underwriter” in such
Registration Statement without the prior written consent of such Purchaser or the Affiliated Holder
(collectively, the “SEC Restrictions”). Any cut-back imposed on the Purchasers or the Affiliated
Holder pursuant to this Section 2(d) shall, unless the SEC Restrictions otherwise require or
provide and unless otherwise directed in writing by a Purchaser or the Affiliated Holder as to its
Registrable Securities, will be applied as follows: (i) first, to Registrable Securities
represented by the Shares held by the Affiliated Holder (applied, in the case that some of such
shares of Common Stock may be registered, to the Affiliated Holder(s) on a pro rata basis based on
the total number of unregistered Shares held by any Affiliated Holder); and second, to Registrable
Securities represented by the Shares held by Purchasers (applied, in the case that some of such
shares of Common Stock may be registered, to the Purchasers on a pro rata basis based on the total
number of unregistered Shares held by any Purchaser). No liquidated damages shall accrue on or as
to any Cut Back Shares until such time as the Company is able to effect the registration of the Cut
Back Shares in accordance with any SEC Restrictions (such date, the “Restriction Termination
Date”). From and after the Restriction Termination Date, all of the provisions of this Section 2
(including the liquidated damages provisions) shall again be applicable to the Cut Back Shares;
provided, however, that for such purposes, the Filing Deadline with respect to any
such Cut Back Shares shall be the 45th day following the Restriction Termination Date.

(e) Effectiveness.

(i) The Company shall use commercially reasonable efforts to cause the Registration
Statement(s) to be declared effective by the SEC as soon as practicable (including filing with the
SEC a request for acceleration of its effectiveness in accordance with Rule 461 within five (5)
Business Days of the date that the Company is notified (orally or in writing, whichever is earlier)
by the staff of the SEC that a Registration Statement will not be

 

5

 

reviewed, or not be subject to further review), with respect to the initial Registration
Statement(s) filed pursuant to Sections 2(a) and 2(b) hereof, but in any event no later than one
hundred and twenty (120) days after filing. The Company shall notify the Purchasers or the
applicable Affiliated Holder by facsimile or e-mail as promptly as practicable, and in any event,
within twenty-four (24) hours, after any Registration Statement is declared effective and shall
simultaneously provide the Purchasers or the applicable Affiliated Holder with copies of any
related Prospectus to be used in connection with the sale or other disposition of the securities
covered thereby. If (A) (i) the Registration Statement is not declared effective by the SEC prior
to the earlier of five (5) Business Days after the staff of the SEC shall have informed the Company
(orally or in writing, whichever is earlier) that such Registration Statement will not be reviewed
by the staff of the SEC or not be subject to further review or (ii) one hundred and twenty (120)
days after filing, other than as a result of limitations imposed by the SEC or (B) after a
Registration Statement has been declared effective by the SEC, sales cannot be made pursuant to
such Registration Statement for any reason (including without limitation by reason of a stop order,
or the Company’s failure to update the Registration Statement), but excluding the inability of any
Purchaser to sell the Registrable Securities covered thereby due to market conditions and except as
excused pursuant to Section 2(e)(ii) below, then, until the shares are eligible for resale under
Rule 144, in addition to any other rights each Purchaser may have hereunder or under applicable
law, the Company will pay (i) an amount in cash to each Purchaser other than the Affiliated Holder,
as partial liquidated damages and not as a penalty, equal to 1.0% of the aggregate purchase price
paid for Registrable Securities by such Purchaser pursuant to the Purchase Agreement up to a
maximum amount of all liquidated damages payable under this Agreement to any Purchaser of 10% of
the purchase price paid for Registrable Securities by such Purchaser pursuant to the Purchase
Agreement and (ii) for each thirty- (30) day period or pro rata for any portion thereof following
the occurrence of an event set forth in any of (A) or (B) above an amount in cash to each Purchaser
other than the Affiliated Holder, as partial liquidated damages and not as a penalty, equal to 1.0%
of the aggregate purchase price paid for Registrable Securities by such Purchaser pursuant to the
Purchase Agreement up to a maximum amount of all liquidated damages payable under this Agreement to
any Purchaser of 10% of the purchase price paid for Registrable Securities by such Purchaser
pursuant to the Purchase Agreement. The amounts payable as partial liquidated damages pursuant to
this paragraph shall be paid within three (3) Business Days of the occurrence of an event set forth
in any of (A) or (B) above and monthly thereafter within three (3) Business Days of the last day of
each month following the occurrence of an event set forth in any of (A) or (B) above until such
events are cured. If the Company fails to pay any partial liquidated damages pursuant to this
section in full within seven (7) days after the date payable, the Company will pay interest thereon
at a rate of 12% per annum (or such lesser amount that is permitted to be paid by applicable law)
to the Purchaser, accruing daily from the date such payments are due until such amounts, plus all
such interest thereon, are paid in full. Such payments shall be made to each Purchaser in
immediately available cash funds. For purposes of the obligations of the Company under this
Agreement, except in the case of any Purchasers who elect in writing not to have its Registrable
Securities included in the Registration Statement, no Registration Statement shall be considered
“effective” with respect to any Registrable Securities unless such Registration Statement lists the
Purchasers of such Registrable Securities as “Selling Stockholders” and includes such other
information as is required to be disclosed with respect to such Purchasers to permit them to sell
all of their Registrable Securities pursuant to such Registration Statement.

 

6

 

(ii) The Holders hereby acknowledge that there may occasionally be times when the Company must
suspend the use of the Prospectus until such time as an amendment to the Registration Statement has
been filed by the Company and declared effective by the SEC or until the Company has amended or
supplemented such Prospectus. Each Holder hereby covenants that it will not sell any securities
pursuant to the Prospectus during the period commencing at the time at which the Company gives such
Holder notice of the suspension of the use of the Prospectus and ending at the time the Company
gives such Holder notice that such Holder may thereafter effect sales pursuant to the Prospectus.
Notwithstanding anything herein to the contrary, the Company shall not suspend use of the
Registration Statement by any Holder unless in the good faith determination of the Company such
suspension is required by the federal securities laws, including without limitation, the rules and
regulations promulgated thereunder; provided, however, that (i) except as otherwise
provided by clause (ii) below, in the event that such suspension is required by the need for an
amendment or supplement to the Registration Statement or the Prospectus, the Company shall promptly
file such required amendments or supplements as shall be necessary for the disposition of the
Registrable Securities to recommence and (ii) if the Board of Directors has determined in good
faith that offers and sales pursuant to the Prospectus should not be made by reason of the presence
of material undisclosed circumstances or developments with respect to which the disclosure that
would be required in the Registration Statement would be premature or would have a material adverse
effect on the Company and its business, the Company may suspend the use of the Prospectus and defer
the filing of any required amendment or supplement for the minimum period of time necessary to
avoid such material adverse effect (an “Allowed Delay”); provided, further, that in
the case of clause (ii) above, the Company shall not be entitled to exercise its right to block
such sales or suspend use of the Prospectus more than three times (not to exceed thirty (30) days
each) during the effectiveness of the Registration Statement nor more than a total of thirty (30)
days in any twelve (12)-month period.

3. Company Obligations. The Company will use all reasonable efforts to effect the
registration of the Registrable Securities in accordance with the terms hereof, and pursuant
thereto the Company will, as expeditiously as possible (but subject to Section 2(e)(ii)):

(a) use all reasonable efforts to cause such Registration Statement to become effective and,
to remain continuously effective for a period that will terminate upon the earlier of (i) the date
on which all Registrable Securities covered by such Registration Statement as amended from time to
time, have been sold; and (ii) the date on which all Registrable Securities covered by such
Registration Statement may be sold without volume limitations pursuant to Rule 144 (the
“Effectiveness Period”) and advise the Purchasers in writing when the Effectiveness Period has
expired;

(b) (i) prepare and file with the SEC such amendments and post-effective amendments to such
Registration Statement and the Prospectus as may be necessary to keep such Registration Statement
effective for the Effectiveness Period; (ii) cause the related Prospectus to be amended or
supplemented by any required Prospectus supplement, and as so supplemented or amended to be filed
pursuant to Rule 424; (iii) respond as promptly as reasonably practicable to any comments received
from the SEC with respect to such Registration Statement or any amendment thereto and, as promptly
as reasonably practicable, upon request, provide the Purchasers true and complete copies of all
correspondence from and to the SEC relating to such
Registration Statement; and (iv) comply with the provisions of the Securities Act and the
Exchange Act with respect to the distribution of all of the Registrable Securities covered by such
Registration Statement;

 

7

 

(c) Use all reasonable efforts to (i) prevent the issuance of any stop order or other
suspension of effectiveness and, (ii) if such order is issued, obtain the withdrawal of any such
order at the earliest possible moment;

(d) prior to any resale of Registrable Securities, use all reasonable efforts to register or
qualify or cooperate with the Holders and their counsel in connection with the registration or
qualification of such Registrable Securities for offer and sale under the securities or blue sky
laws of such jurisdictions requested by the Holders and do any and all other commercially
reasonable acts or things necessary or advisable to enable the distribution in such jurisdictions
of the Registrable Securities covered by the Registration Statement; provided, however, that the
Company shall not be required in connection therewith or as a condition thereto to (i) qualify to
do business in any jurisdiction where it would not otherwise be required to qualify but for this
Section 3(d), (ii) subject itself to general taxation in any jurisdiction where it would not
otherwise be so subject but for this Section 3(d) or (iii) file a general consent to service of
process in any such jurisdiction;

(e) use all reasonable efforts to cause all Registrable Securities covered by a Registration
Statement to be listed on each securities exchange, interdealer quotation system or other market
(including the OTC-BB) on which similar securities issued by the Company are then listed or traded;

(f) promptly notify the Purchasers and/or the applicable Affiliated Holder, at any time when a
Prospectus relating to Registrable Securities is required to be delivered under the Securities Act
(including during any period when the Company is in compliance with Rule 172), upon discovery that,
or upon the happening of any event as a result of which, the Prospectus included in a Registration
Statement, as then in effect, includes an untrue statement of a material fact or omits to state any
material fact required to be stated therein or necessary to make the statements therein not
misleading in light of the circumstances then existing, and at the request of any such holder,
promptly prepare, file with the SEC pursuant to Rule 172 and furnish to such holder a supplement to
or an amendment of such Prospectus as may be necessary so that such Prospectus shall not include an
untrue statement of a material fact or omit to state a material fact required to be stated therein
or necessary to make the statements therein not misleading in light of the circumstances then
existing;

(g) promptly notify the Purchasers and/or the applicable Affiliated Holder (i) of any request
by the SEC or any other Federal or state governmental authority during the period of effectiveness
of each Registration Statement for amendments or supplements to such Registration Statement or
Prospectus or for additional information; (ii) of the issuance by the SEC or any other federal or
state governmental authority of any stop order suspending the effectiveness of the Registration
Statement covering any or all of the Registrable Securities or the initiation of any proceedings
for that purpose; (iii) of the receipt by the Company of any notification with respect to the
suspension of the qualification or exemption from qualification of any of the Registrable
Securities for sale in any jurisdiction, or the initiation or threatening of
any proceeding for such purpose; and (iv) of the occurrence of any event or passage of time
that makes the financial statements included in such Registration Statement ineligible for
inclusion therein;

 

8

 

(h) with a view to making available to the Purchasers and the Affiliated Holder the benefits
of Rule 144 (or its successor rule) and any other rule or regulation of the SEC that may at any
time permit the Purchasers or the Affiliated Holder to sell shares of Common Stock to the public
without registration, the Company covenants and agrees to: (i) make and keep public information
available, as those terms are understood and defined in Rule 144, until the earlier of (A) six
months after such date as all of the Registrable Securities may be resold pursuant to Rule 144 or
any other rule of similar effect or (B) such date as all of the Registrable Securities shall have
been resold; (ii) file with the SEC in a timely manner all reports and other documents required of
the Company under the Exchange Act (whether or not such reports and other documents are required to
be filed under the Exchange Act); and (iii) furnish to each Purchaser and Affiliated Holder upon
request, as long as such Purchaser or Affiliated Holder owns any Registrable Securities, (A) a
written statement by the Company that it has complied with the reporting requirements of the
Exchange Act and (B) such other information as may be reasonably requested in order to avail such
Purchaser or Affiliated Holder of any rule or regulation of the SEC that permits the selling of any
such Registrable Securities without registration; and

(i) the Company represents and warrants that (A) since December 31, 2008 through the date of
this Agreement, it has filed with the SEC in a timely manner all reports and other documents
required of the Company under the Exchange Act and (B) neither the Company nor any of its
consolidated or unconsolidated subsidiaries have, since the end of the last fiscal year for which
certified financial statements of the Company and its consolidated subsidiary were included in a
report filed pursuant to Section 13(a) or 15(d) of the Exchange Act through the date of this
Agreement: (1) failed to pay any dividend or sinking fund installment on preferred stock; or (2)
defaulted (x) on any installment or installments on indebtedness for borrowed money, or (y) on any
rental on one or more long term leases, which defaults in the aggregate are material to the
financial position of the Company and its consolidated and unconsolidated subsidiaries, taken as a
whole.

4. Information. The Company shall not disclose material nonpublic information to the
Purchasers, or to advisors to or representatives of the Purchasers, unless prior to disclosure of
such information the Company identifies such information as being material nonpublic information
and provides the Purchasers, such advisors and representatives with the opportunity to accept or
refuse to accept such material nonpublic information for review and any Purchaser wishing to obtain
such information enters into an appropriate confidentiality agreement with the Company with respect
thereto. The Purchasers and the Affiliated Holder agree and acknowledge that their access to
documents in connection with any review by the SEC of a Registration Statement, and their
participation in any related meetings or discussion with the Company or the SEC in connection
therewith in accordance with Section 2(d) may expose them to material nonpublic information and
that the Company will request the execution of appropriate confidentiality agreements as a
condition to providing any such access to any Purchaser or Affiliated Holder.

 

9

 

5. Obligations of the Holders.

(a) Each Holder shall promptly furnish in writing to the Company such information regarding
itself, the Registrable Securities held by it and the intended method of disposition of the
Registrable Securities held by it, as shall be reasonably required to effect the registration of
such Registrable Securities and shall execute such documents in connection with such registration
as the Company may reasonably request. At least five (5) Business Days prior to the first
anticipated filing date of any Registration Statement, the Company shall notify each Holder of the
information the Company requires from such Holder if such Holder elects to have any of the
Registrable Securities included in the Registration Statement. A Holder shall provide such
information to the Company at least two (2) Business Days prior to the first anticipated filing
date of such Registration Statement if such Holder elects to have any of the Registrable Securities
included in the Registration Statement.

(b) Each Holder, by its acceptance of the Registrable Securities agrees to cooperate with the
Company as reasonably requested by the Company in connection with the preparation and filing of a
Registration Statement hereunder, unless such Holder has notified the Company in writing of its
election to exclude all of its Registrable Securities from such Registration Statement.

(c) Each Holder agrees that, upon receipt of any notice from the Company of either (i) the
commencement of an Allowed Delay pursuant to Section 2(e)(ii), or (ii) the happening of an event
pursuant to Section 3(f) hereof, such Holder will immediately discontinue disposition of
Registrable Securities pursuant to the Registration Statement covering such Registrable Securities,
until the Holder is advised by the Company that a supplemented or amended prospectus has been filed
with the SEC and until any related post-effective amendment is declared effective and, if so
directed by the Company, the Holder shall deliver to the Company or destroy (and deliver to the
Company a certificate of destruction) all copies in the Holder’s possession of the Prospectus
covering the Registrable Securities current at the time of receipt of such notice.

6. Indemnification.

(a) Indemnification by the Company. The Company will indemnify and hold harmless each
Holder and its officers, directors, members, partners, employees, attorneys and agents, successors
and assigns, and each other person, if any, who controls such Holder within the meaning of the
Securities Act, against any losses, claims, damages or liabilities, joint or several, to which they
may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages
or liabilities (or actions in respect thereof) arise out of or are based upon: (i) any untrue
statement or alleged untrue statement of any material fact contained in any Registration Statement,
any preliminary prospectus or final prospectus contained therein, or any amendment or supplement
thereof; (ii) the omission or alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein not misleading; (iii) any violation or
alleged violation by the Company of the Securities Act, Exchange Act or any state securities law,
or any rule or regulation thereunder, in connection with the performance of its obligations under
this Agreement; or (iv) any failure to register or qualify the Registrable Securities included in
any such Registration in any state where the Company or

 

10

 

its agents has affirmatively undertaken or agreed in writing that the Company will undertake
such registration or qualification on a Holder’s behalf and will reimburse such Holder, and each
such officer, director or member and each such controlling person for any legal or other expenses
reasonably incurred by them in connection with investigating or defending any such loss, claim,
damage or liability (or action in respect thereof); provided, however, that the
Company will not be liable for amounts paid in settlement of any such loss, claim, damage,
liability or action if such settlement is effected without the consent of the Company, which
consent shall not be unreasonably withheld, and the Company will not be liable in any such case to
the extent that any such loss, claim, damage, liability or expense arises out of or is based upon
(i) an untrue statement or alleged untrue statement or omission or alleged omission made in the
Registration Statement, the Prospectus or any amendment or supplement thereto in reliance upon and
in conformity with written information furnished to the Company by or on behalf of the Holder
expressly for use therein; (ii) the failure of the Holder to comply with the covenants and
agreements contained in Section 5 hereof and Section 6(a) of the Purchase Agreement respecting the
sale of the Shares; (iii) the inaccuracy of any representation or warranty made by the Holder
herein; or (iv) the use by such Holder of an outdated or defective Prospectus after the Company has
notified such Holder that the Prospectus is outdated or defective.

(b) Indemnification by the Holders. Each Holder agrees, severally but not jointly, to
indemnify and hold harmless, to the fullest extent permitted by law, the Company, its directors,
officers, employees, stockholders and each person who controls the Company (within the meaning of
the Securities Act) against any losses, claims, damages, liabilities and expense (including
reasonable attorney fees) resulting from any untrue statement of a material fact or any omission of
a material fact required to be stated in the Registration Statement or Prospectus or preliminary
prospectus or amendment or supplement thereto or necessary to make the statements therein not
misleading, to the extent, but only to the extent that such untrue statement or omission is
contained in any information furnished in writing by such Holder to the Company specifically for
inclusion in such Registration Statement or Prospectus or amendment or supplement thereto and will
reimburse the Company, its directors, officers, employees, stockholders and each person who
controls the Company (within the meaning of the Securities Act) for any legal or other expenses
reasonably incurred by them in connection with investigating or defending any such loss, claim,
damage or liability (or action in respect thereof). In no event shall the liability of a Holder be
greater in amount than the dollar amount of the proceeds (net of all expense paid by such Holder in
connection with any claim relating to this Section 6) received by such Holder upon the sale of the
Registrable Securities included in the Registration Statement giving rise to such indemnification
obligation.

(c) Conduct of Indemnification Proceedings. Any person entitled to indemnification
hereunder shall (i) give prompt notice to the indemnifying party of any claim with respect to which
it seeks indemnification and (ii) permit such indemnifying party to assume the defense of such
claim with counsel reasonably satisfactory to the indemnified party; provided, that any
person entitled to indemnification hereunder shall have the right to employ separate counsel and to
participate in the defense of such claim, but the fees and expenses of such counsel shall be at the
expense of such person unless (a) the indemnifying party has agreed to pay such fees or expenses,
(b) the indemnifying party shall have failed to assume the defense of such claim and employ counsel
reasonably satisfactory to such person or (c) in the reasonable judgment of any such person, based
upon written legal opinion of its counsel satisfactory to the

 

11

 

indemnifying party, a conflict of interest exists between such person and the indemnifying
party with respect to such claims (in which case, if the person notifies the indemnifying party in
writing that such person elects to employ separate counsel at the expense of the indemnifying
party, the indemnifying party shall not have the right to assume the defense of such claim on
behalf of such person); and provided, further, that the failure of any indemnified
party to give notice as provided herein shall not relieve the indemnifying party of its obligations
hereunder, except to the extent that such failure to give notice shall materially adversely affect
the indemnifying party in the defense of any such claim or litigation. It is understood that the
indemnifying party shall not, in connection with any proceeding in the same jurisdiction, be liable
for fees or expenses of more than one separate firm of attorneys at any time for all such
indemnified parties. No indemnifying party will, except with the consent of the indemnified party,
consent to entry of any judgment or enter into any settlement that does not include as an
unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a
release from all liability in respect of such claim or litigation.

(d) Contribution. If for any reason the indemnification provided for in the preceding
paragraphs 6(a) and 6(b) is unavailable to an indemnified party or insufficient to hold it
harmless, other than as expressly specified therein, then the indemnifying party shall contribute
to the amount paid or payable by the indemnified party as a result of such loss, claim, damage or
liability in such proportion as is appropriate to reflect the relative fault of the indemnified
party and the indemnifying party, as well as any other relevant equitable considerations. No
person guilty of fraudulent misrepresentation within the meaning of Section 11(f) of the Securities
Act shall be entitled to contribution from any person not guilty of such fraudulent
misrepresentation. In no event shall the contribution obligation of a holder of Registrable
Securities be greater in amount than the dollar amount of the proceeds (net of all expenses paid by
such Holder in connection with any claim relating to this Section 6 and the amount of any damages
such holder has otherwise been required to pay by reason of such untrue or alleged untrue statement
or omission or alleged omission) received by it upon the sale of the Registrable Securities giving
rise to such contribution obligation.

7. Miscellaneous.

(a) Amendments and Waivers. This Agreement may be amended, modified or waived only by
a writing signed by the Company, the Major Purchasers and the Affiliated Purchasers.

(b) Notices. All notices and other communications provided for or permitted hereunder
shall be made as set forth in Section 10 of the Purchase Agreement.

(c) Assignments and Transfers by Holders. The provisions of this Agreement shall be
binding upon and inure to the benefit of the Holders and their respective successors and assigns.
A Holder may transfer or assign, in whole or from time to time in part, to one or more persons its
rights hereunder in connection with the transfer of Registrable Securities by such Holder to such
person; provided, that (i) such Holder complies with all laws applicable thereto and
provides written notice of assignment to the Company promptly after such assignment is effected and
(ii) the transferee agrees in writing to be bound by this Agreement as if it were a party hereto.

 

12

 

(d) Assignments and Transfers by the Company. This Agreement may not be assigned by
the Company (whether by operation of law or otherwise) without the prior written consent of the
Required Holders; provided, however, that the Company may assign its rights and
delegate its duties hereunder to any surviving or successor corporation in connection with a merger
or consolidation of the Company with another corporation, or a sale, transfer or other disposition
of all or substantially all of the Company’s assets to another corporation, without the prior
written consent of the Required Holders and the Affiliated Holder, after notice duly given by the
Company to each Holder.

(e) Benefits of the Agreement. The terms and conditions of this Agreement shall inure
to the benefit of and be binding upon the respective permitted successors and assigns of the
parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other
than the parties hereto or their respective successors and assigns any rights, remedies,
obligations, or liabilities under or by reason of this Agreement, except as expressly provided in
this Agreement.

(f) Counterparts; Electronic Execution. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument. This Agreement may also be executed via e-mail or facsimile, which
shall be deemed an original.

(g) Titles and Subtitles. The titles and subtitles used in this Agreement are used
for convenience only and are not to be considered in construing or interpreting this Agreement.

(h) Severability. Any provision of this Agreement that is prohibited or unenforceable
in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such
prohibition or unenforceability without invalidating the remaining provisions hereof but shall be
interpreted as if it were written so as to be enforceable to the maximum extent permitted by
applicable law, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. To the extent
permitted by applicable law, the parties hereby waive any provision of law which renders any
provisions hereof prohibited or unenforceable in any respect.

(i) Further Assurances. The parties shall execute and deliver all such further
instruments and documents and take all such other actions as may reasonably be required to carry
out the transactions contemplated hereby and to evidence the fulfillment of the agreements herein
contained.

(j) Entire Agreement. This Agreement is intended by the parties as a final expression
of their agreement and intended to be a complete and exclusive statement of the agreement and
understanding of the parties hereto in respect of the subject matter contained herein. This
Agreement supersedes all prior agreements and understandings between the parties with respect to
such subject matter.

 

13

 

(k) Governing Law; Consent to Jurisdiction; Waiver of Jury Trial. This Agreement
shall be governed by, and construed in accordance with, the internal laws of the State
of New York without regard to the choice of law principles thereof. Each of the parties
hereto irrevocably submits to the exclusive jurisdiction of the courts of the State of New York
located in New York County and the United States District Court for the Southern District of New
York for the purpose of any suit, action, proceeding or judgment relating to or arising out of this
Agreement and the transactions contemplated hereby. Service of process in connection with any such
suit, action or proceeding may be served on each party hereto anywhere in the world by the same
methods as are specified for the giving of notices under this Agreement. Each of the parties
hereto irrevocably consents to the jurisdiction of any such court in any such suit, action or
proceeding and to the laying of venue in such court. Each party hereto irrevocably waives any
objection to the laying of venue of any such suit, action or proceeding brought in such courts and
irrevocably waives any claim that any such suit, action or proceeding brought in any such court has
been brought in an inconvenient forum. EACH OF THE PARTIES HERETO WAIVES ANY RIGHT TO REQUEST A
TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO THIS AGREEMENT AND REPRESENTS THAT COUNSEL HAS BEEN
CONSULTED SPECIFICALLY AS TO THIS WAIVER.

(l) Obligations of Holders. The Company acknowledges that the obligations of each
Holder under this Agreement are several and not joint with the obligations of any other Holder, and
no Holder shall be responsible in any way for the performance of the obligations of any other
Holder under this Agreement. The decision of each Holder to enter into to this Agreement has been
made by such Holder independently of any other Holder. The Company further acknowledges that
nothing contained in this Agreement, and no action taken by any Holder pursuant hereto, shall be
deemed to constitute the Holders as a partnership, an association, a joint venture or any other
kind of entity, or create a presumption that the Holders are in any way acting in concert or as a
group with respect to such obligations or the transactions contemplated hereby. Each Holder shall
be entitled to independently protect and enforce its rights, including without limitation, the
rights arising out of this Agreement, and it shall not be necessary for any other Holder to be
joined as an additional party in any proceeding for such purpose.

Each Holder has been represented by its own separate legal counsel in their review and
negotiation of this Agreement and with respect to the transactions contemplated hereby. The
Company has elected to provide all Holders with the same terms and Agreement for the convenience of
the Company and not because it was required or requested to do so by the Holders. The Company
acknowledges that such procedure with respect to this Agreement in no way creates a presumption
that the Holders are in any way acting in concert or as a group with respect to this Agreement or
the transactions contemplated hereby or thereby.

[Signature pages follow]

 

14

 

IN WITNESS WHEREOF, the parties have executed this Agreement or caused their duly authorized
officers to execute this Agreement as of the date first above written.

	 	 	 	 	 
	 	OSTEOLOGIX, INC.

 	 
	 	By:  	/s/ Phillip J. Young
 	 
	 	 	Name:  	Phillip J. Young 	 
	 	 	Title:  	CEO 	 
	 

Signature Page to Registration Rights Agreement

	 	 	 	 	 

 

 

 

	 	 	 	 	 
	 	PURCHASERS:

NORDIC BIOTECH OPPORTUNITY FUND K/S

 	 
	 	By:  	/s/ Christian Hansen
 	 
	 	 	Name:  	C. Hansen 	 
	 	 	Title:  	Partner 	 
	 
	 	 	 
	 	By:  	/s/ Christian Hansen
 	 
	 	 	Name:  	for F. Schönharting by POA 	 
	 	 	Title:  	Partner 	 
	 

Signature Page to Registration Rights Agreement

 

 

 

EXHIBIT A

PLAN OF DISTRIBUTION

The shares of common stock offered by this prospectus are being offered by selling
stockholders and their donees, pledgees, transferees or other successors-in-interest. The common
stock may be sold, transferred or otherwise disposed of on any stock exchange, the OTC Bulletin
Board or any other market or trading facility on which the shares are traded or in private
transactions. These dispositions may be at fixed prices, at prevailing market prices at the time
of sale, at prices related to the prevailing market price, at varying prices determined at the time
of sale, or at negotiated prices.

The selling stockholders may use any one or more of the following methods when disposing of
shares or interests therein:

	 	•	 	ordinary brokerage transactions and transactions in which the broker-dealer solicits
purchasers;
	 
	 	•	 	block trades in which the broker-dealer will attempt to sell the shares as agent,
but may position and resell a portion of the block as principal to facilitate the
transaction;
	 
	 	•	 	through brokers, dealers or underwriters who may act solely as agents;
	 
	 	•	 	purchases by a broker-dealer as principal and resale by the broker-dealer for its
account;
	 
	 	•	 	an exchange distribution in accordance with the rules of the applicable exchange;
	 
	 	•	 	privately negotiated transactions;
	 
	 	•	 	short sales effected after the date the registration statement of which this
Prospectus is a part is declared effective by the SEC;
	 
	 	•	 	through the writing or settlement of options or other hedging transactions, whether
through an options exchange or otherwise;
	 
	 	•	 	broker-dealers may agree with the selling stockholders to sell a specified number of
such shares at a stipulated price per share; or
	 
	 	•	 	a combination of any such methods of sale.

The selling stockholders may, from time to time, pledge or grant a security interest in some
or all of the shares of common stock owned by them and, if they default in the performance of their
secured obligations, the pledgees or secured parties may offer and sell the shares of common stock,
from time to time, under this prospectus, or under an amendment or supplement to this prospectus
under Rule 424(b)(3) or other applicable provision of the Securities Act amending the list of
selling stockholders to include the pledgee, transferee or other successors in interest as selling
stockholders under this prospectus. The selling stockholders also may transfer
the shares of common stock in other circumstances, in which case the transferees, pledgees or
other successors in interest will be the selling beneficial owners for purposes of this prospectus.

 

A-1

 

In connection with the sale of our common stock or interests therein, the selling stockholders
may enter into hedging transactions with broker-dealers or other financial institutions, which may
in turn engage in short sales of the common stock in the course of hedging the positions they
assume. The selling stockholders may also sell shares of our common stock short and deliver these
securities to close out their short positions, or loan or pledge the common stock to broker-dealers
that in turn may sell these securities. The selling stockholders may also enter into option or
other transactions with broker-dealers or other financial institutions or the creation of one or
more derivative securities which require the delivery to such broker-dealer or other financial
institution of shares offered by this prospectus, which shares such broker-dealer or other
financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect
such transaction).

Brokers, dealers, underwriters or agents participating in the distribution of the common stock
as agents may receive compensation in the form of commissions, discounts or concessions from the
selling stockholders and/or purchasers of the common stock for whom the broker-dealers may act as
agents. The compensation paid to a particular broker-dealer may be less than or in excess of
customary concessions, but except as set forth in a supplement to this prospectus, in the case of
an agency transaction not in excess of a customary brokerage commission in compliance with NASDR
Rule 2440; and in the case of a principal transaction a markup or markdown in compliance with NASDR
IM-2440. In no event shall any broker-dealer receive fees, commissions and markups that, in the
aggregate, would exceed eight percent (8%). At the time a particular offer of shares of common
stock is made, a prospectus supplement will be distributed that will set forth the names of any
agents, underwriters or dealers, any compensation from the selling stockholders and any other
required information. Neither we nor the selling stockholders can presently estimate the amount of
compensation that any agent will receive. We know of no existing arrangements between the selling
stockholders, any other stockholders, broker, dealer, underwriter or agent relating to the sale or
distribution of our common stock.

The selling stockholders also may resell all or a portion of the shares in open market
transactions in reliance upon Rule 144 under the Securities Act of 1933, provided that they meet
the criteria and conform to the requirements of that rule.

Any selling stockholder who is a registered broker-dealer will be deemed to be an underwriter.
Each of [              
               
           ] and [     
                 
              
    ] are broker dealers or broker dealer
affiliates. Each of [               
                   
      ] and [          
                   
           ] and entities associated with or
controlled by these entities are underwriters within the meaning of the Securities Act in
connection with the sale of securities under this prospectus. In addition, each of the other
selling stockholders may be deemed to be underwriters within the meaning of the Securities Act of
1933. See “Selling Stockholders.” Any profits on the sale of the common stock sold under this
prospectus by selling stockholders who are or who are deemed to be underwriters, and any discount,
commissions or agent’s commissions received by such selling stockholders may be deemed to be
underwriting discounts and commissions under the Securities Act. Because the selling stockholders
are or may be deemed to be underwriters, the selling stockholders will be subject to prospectus
delivery requirements of the Securities Act, including
Rule 172 thereunder. Underwriters are subject to certain statutory liabilities, including but
not limited to, Section 11, 12 and 17 of the Securities Act. We are also required to pay certain
fees and expenses incurred by us incidental to the registration of the shares of common stock.

 

A-2

 

To the extent required, the shares of our common stock to be sold, the names of the selling
stockholders, the respective purchase prices and public offering prices, the names of any agents,
dealer or underwriter, any applicable commissions or discounts with respect to a particular offer
will be set forth in an accompanying prospectus supplement or, if appropriate, a post-effective
amendment to the registration statement that includes this prospectus.

In order to comply with the securities laws of some states, if applicable, the common stock
may be sold in these jurisdictions only through registered or licensed brokers or dealers. In
addition, in some states the common stock may not be sold unless it has been registered or
qualified for sale or an exemption from registration or qualification requirements is available and
is complied with.

Under applicable rules and regulations under the Exchange Act, any person engaged in the
distribution of the securities offered under this prospectus may not simultaneously engage in
market making activities with respect to the common stock for the applicable restricted period, as
defined in Regulation M, prior to the commencement of the distribution. In addition, the selling
stockholders will be subject to applicable provisions of the Exchange Act and the rules and
regulations thereunder, including Regulation M, which may limit the timing of purchases and sales
of shares of the common stock by the selling stockholders or any other person. We intend to make
copies of this prospectus available to the selling stockholders and have informed them of the need
to deliver a copy of this prospectus to each purchaser at or prior to the time of the sale.

We have agreed to indemnify the selling stockholders against liabilities, including
liabilities under the Securities Act and state securities laws, relating to the registration of the
shares offered by this prospectus.

We have agreed to keep the registration statement of which this prospectus constitutes a part
effective until the earlier of (1) such time as all of the shares covered by this prospectus have
been disposed of or (2) the date on which all of the shares may be sold without volume limitations
pursuant to Rule 144 of the Securities Act.

 

A-3exv10w1

Exhibit 10.1

[NEO FORM]

REPUBLIC SERVICES, INC.

EMPLOYEE RESTRICTED STOCK UNIT AGREEMENT

     THIS RESTRICTED STOCK UNIT AGREEMENT (the “Agreement”), dated as of the [  ] day of
[  ], between Republic Services, Inc., a Delaware corporation (“the Company”) and [  ]
(the “Recipient”), is made pursuant and subject to the provisions of the Company’s 2007 Stock
Incentive Plan, as previously amended and any future amendments thereto (the “Plan”). The Plan, as
it may be amended from time to time, is incorporated herein by reference.

     1. Definitions. All capitalized terms used herein but not expressly defined shall
have the meaning ascribed to them in the Plan, a copy of which is being provided in an email and is
incorporated herein by reference. All references to the Company herein shall also be deemed to
include references to any and all entities directly or indirectly controlled by the Company and
which are consolidated with the Company for financial accounting purposes.

     2. Award of Restricted Stock Units. Subject to the terms and conditions of the Plan
and to the terms and conditions herein set forth in this Agreement, the Company on this date awards
to the Recipient [  ] Restricted Stock Units (referred to as the “Restricted Stock Units”).

     3. Vesting.

          (a) Vesting Schedule. The Restricted Stock Unit Award shall vest and become
nonforfeitable on the dates (each a “Vesting Date”) and in the percentages set forth in accordance
with the following schedule, provided that the Recipient’s continuous service with the Company
continues until the applicable Vesting Date:

	 	 	 
	Vesting Date	 	Vesting Percentage
	[                    ]

[                    ]

[                    ]

[                    ]
	 	25%

25%

25%

25%

     Except as otherwise specifically provided herein, there shall be no proportionate or partial
vesting in the periods prior to each Vesting Date, and all vesting shall occur only on the
applicable Vesting Date.

1

 

          (b) Acceleration of Vesting on Account of Death, Disability, Retirement, Termination of
Employment, or for Other Reasons.

               (i) Death or Disability. The Restricted Stock Units not yet vested and that have not
previously been forfeited shall become 100% vested and transferable in the event that the
Recipient’s continuous service with the Company terminates by reason of the Recipient’s death or
Disability.

               (ii) Retirement. The Restricted Stock Units not yet vested and that have not
previously been forfeited shall become 100% vested and transferable in the event that (1) the
Recipient’s continuous service with the Company terminates by reason of the Recipient’s retirement
and, (2) at the time of such retirement:

                    (A) the Recipient is at least fifty-five (55) years old and has completed six (6) years of
continuous service with the Company or is at least sixty (60) years old (without regard to years of
service), and in either case has provided the Company not less than twelve (12) months prior
written notice of Recipient’s intent to retire; or

                    (B) the Recipient is at least sixty (60) years old and has completed fifteen (15) years of
continuous service with the Company or is sixty-five (65) years old and has completed five (5)
years of continuous service with the Company and in either case has provided the Company with not
less than thirty (30) days prior written notice of Recipient’s intent to retire; and

                    (C) in the case of both (A) and (B), the Company does not provide the Recipient with written
notice on or before the anticipated retirement date that the Company intends or has grounds to
terminate the Recipient’s continuous service for Cause.

     For purposes of determining years of continuous service, service shall include service with
any entity whose financial statements are required to be consolidated with the financial statements
of Republic, including service with any such entity prior to the date on which the entity’s
financial statements were required to be so consolidated.

               (iii) Employment Agreement. The Restricted Stock Units not yet vested and that have
not previously been forfeited shall become partially or fully vested and transferrable at such
times and in such amounts as may be required pursuant to any
employment or consulting agreement between the Recipient and the Company, with respect to any
restricted stock.

     4. Terms and Conditions. This award of Restricted Stock Units is subject to the
following terms and conditions:

2

 

          (a) Payment for Restricted Stock Units; Forfeiture of Unvested Units; Deferral of
Restricted Stock Units.

               (i) Except as otherwise provided in paragraph (ii) of this Section 4(a), Section 4(d) or
Section 14 hereof, the Recipient shall be entitled to receive one share of Common Stock for each
Restricted Stock Unit contained in the portion of the Restricted Stock Units awarded hereunder that
becomes vested pursuant to Section 3 hereof, free and clear of the restrictions set forth in this
Agreement, except for any restrictions necessary to comply with federal and state securities laws.
Certificates representing such shares shall be delivered to the Recipient within sixty (60) days
following the date on which the portion of the Restricted Stock Units to which the distribution
relates becomes vested. Any Restricted Stock Units that are not vested as of the Recipient’s
separation from service, within the meaning of Section 409A of the Code and applicable Treasury
Regulations (the “Separation from Service”), and that will not become vested pursuant to Section
3(b) hereof, shall automatically and immediately be forfeited on the date of the Recipient’s
Separation from Service.

               (ii) The Recipient may elect to defer the Restricted Stock Units pursuant to the Republic
Services, Inc. Deferred Compensation Plan (the “Deferred Compensation Plan”), and if the Recipient
properly and timely does so, the Restricted Stock Units shall be automatically converted into a
corresponding number of units under the Republic Services Stock Unit Fund (the “Units”), and shall
be credited to the Participant’s Account Balance (as defined in the Deferred Compensation Plan) in
accordance with Section 3.10(c) of the Deferred Compensation Plan in the same manner as is
applicable to election not to receive restricted stock. The Units shall remain subject to the
vesting and forfeiture provisions set forth in Sections 3 and 4(h) of this Agreement. The Units
shall be payable in actual shares of Common Stock at the times provided for under the Deferred
Compensation Plan.

          (b) Hypothetical Nature of Restricted Stock Units. The Restricted Stock Units
awarded herein do not represent an equity security of the Company and do not carry any voting or
dividend rights, except the right to receive Dividend Equivalents in accordance with Section 4(c)
hereof.

          (c) Dividend Equivalents. Recipient shall receive Dividend Equivalents in the form of
additional Restricted Stock Units or fractional Restricted Stock Units each time a dividend or
other distribution is paid on the Company’s Common Stock. The number of Restricted Stock Units
awarded for a cash dividend or non-cash dividend other than a stock dividend shall be determined by
(i) multiplying the number of Restricted Stock Units held by the Recipient pursuant to this
Agreement as of the dividend payment date by the amount of the
dividend per share of Common Stock and (ii) dividing the product so determined by the Fair

3

 

Market Value of the Common Stock on the dividend payment date. The number of Restricted Stock Units
awarded for a stock dividend shall be determined by multiplying the number of Restricted Stock
Units held by the Recipient pursuant to this Agreement as of the dividend payment date by the
number of additional shares of Common Stock actually paid as a dividend per share of Common Stock.
Any additional Restricted Stock Units awarded pursuant to this Section 4(c) shall be awarded
effective the day following the date the dividend was paid, and shall have the same status, and
shall be subject to the same terms and conditions (including without limitation the vesting and
forfeiture provisions), under this Agreement as the Restricted Stock Units to which they relate,
and shall be distributed on the same payment date referred to in Section 4(a) herein as the
Restricted Stock Units to which they relate.

          (d) Unforeseeable Financial Emergency. If the Recipient experiences an Unforeseeable
Financial Emergency, the Recipient may petition the Committee to receive the payment of shares of
Common Stock for all or part of his Restricted Stock Units prior to termination of his service with
the Company. If the Committee, in its sole discretion, grants the Recipient’s petition, then the
Recipient shall only receive shares of Common Stock as necessary to satisfy the Unforeseeable
Financial Emergency to the extent deemed necessary by the Committee. “Unforeseeable Financial
Emergency” shall mean a severe financial hardship to the Recipient resulting from (i) an illness or
accident of the Recipient, the Recipient’s spouse, or the Recipient’s dependent (as defined in
Section 152 of the Code, without regard to Section 152(b)(1), (b)(2), or (d)(1)(B) of the Code),
(ii) a loss of the Recipient’s property due to casualty (including the need to rebuild a home
following damage to a home not otherwise covered by insurance), or (iii) similar extraordinary and
unforeseeable circumstances arising as a result of events beyond the control of the Recipient, all
as determined in the sole discretion of the Committee.

          (e) Tax Withholding.

               (i) The Recipient shall pay to the Company, or make arrangements satisfactory to the
Committee for payment of, any federal, state or local taxes of any kind required by law to be
withheld with respect to the grant of Restricted Stock Units (including without limitation the
vesting thereof) and any Dividend Equivalents or other distributions made by the Company to the
Recipient with respect to the Restricted Stock Units as and when the Company determines those
amounts to be due, and the Company shall, to the extent permitted by law, have the right to deduct
from any payment of any kind otherwise due to Recipient any federal, state, or local taxes of any
kind required by law to be withheld with respect to the Restricted Stock Units or any Dividend
Equivalents or other distributions made by the Company to the Recipient with respect to any
Restricted Stock Units.

               (ii) The Recipient may elect, by notice to the Committee, to satisfy his or her minimum
withholding tax obligation with respect to the granting or vesting of the
Restricted Stock Units by the Company’s withholding a portion of the shares of Common

4

 

Stock
otherwise deliverable to the Recipient, such shares being valued at their fair market value as of
the date on which the taxable event that gives rise to the withholding requirement occurs, or by
the Recipient’s delivery to the Company of a portion of the shares previously delivered by the
Company, such shares being valued at their fair market value as of the date of delivery of such
shares by the Recipient to the Company.

          (f) No Right to Continued Employment or Service. This Agreement does not confer upon
the Recipient any right with respect to continuance of employment or service by the Company, nor
shall it interfere in any way with the right of the Company to terminate the Recipient’s
employment at any time.

          (g) Transferability of Awards.

               (i) Restrictions on Transfer. Except as otherwise provided in Section 4(g)(ii), no
Restricted Stock Units shall be transferable or assignable by the Recipient, other than by will or
the laws of descent and distribution or pursuant to a Qualified Domestic Relations Order.

               (ii) Permitted Transfers. The Recipient may transfer the Restricted Stock Units (or
a portion thereof) for no value to (1) a child, 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, (2)
any person sharing the Recipient’s household (other than a tenant or employee), (3) a trust in
which the persons described in (1) and/or (2) have more than 50% of the beneficial interest, (4) a
foundation in which the Recipient and/or the persons described in (1) and/or (2) control the
management of assets, or (5) any other entity in which the Recipient and/or the persons described
in (1) and/or (2) own more than 50% of the voting interests.

               (iii) Notice. No transfer by will or the laws of descent and distribution, or
transfers permitted under Section 4(g)(ii), of any Restricted Stock Units, shall be effective to
bind the Company unless the Committee shall have been furnished with (1) the Notice of Restricted
Stock Unit Transfer attached hereto as Exhibit A executed and dated by the Recipient and
with a copy of the will, assignment or transfer document and/or such evidence as the Committee may
deem necessary to establish the validity of the transfer, and (2) the Statement of Acknowledgement
attached hereto as Exhibit B executed and dated by the transferee which states that the
transferee will comply with all the terms and conditions of the Plan and the Agreement relating to
the Restricted Stock Units that are or would have been applicable to the Recipient.

          (h) Forfeiture by Reason of Detrimental Activity. The Restricted Stock Units shall be
subject to Section 15(n) of the Plan. Notwithstanding any other provision of

5

 

this Agreement to the
contrary, if the Recipient engages in any Detrimental Activity at any time prior to or during the
one year period after the latest date on which any portion of the Restricted Stock Units become
vested, the Company shall, upon the recommendation of the Committee in its sole and absolute
discretion, be entitled to (i) immediately terminate and cancel any portion of the Restricted Stock
Units that have not previously been settled with shares of Common Stock, and/or (ii) require within
two (2) years after the last date on which any portion of the Restricted Stock Units are settled
but prior to a Change in Control that the Recipient (1) return to the Company any shares of Common
Stock that were distributed to the Recipient in settlement of the Restricted Stock Units, or if
such shares of Common Stock are not still owned by the Recipient, that the Recipient pay to the
Company an amount equal to the fair market value of such shares of Common Stock on the date they
were issued, and (2) return to the Company any cash or other property (other than Common Stock)
received by the Recipient from the Company pursuant to this Agreement. The provisions of this
Section 4(h) and Section 15(n) of the Plan shall be applicable to any distributions under the
Deferred Compensation Plan relating to the Restricted Stock Units that were deferred pursuant to
Section 4(a)(ii) hereof.

          (i) Right to Set Off. By accepting this Agreement, the Recipient consents to a
deduction from any amounts the Company owes the Recipient from time to time (including amounts owed
to the Recipient as wages or other compensation, for any benefits, or vacation pay, as well as any
other amounts owed to the Recipient by the Company), up to the dollar amount the Recipient owes the
Company under Section 4(h) hereof. Whether or not the Company elects to make any set off in whole
or in part, if the Company does not recover by means of set off the full amount the Recipient owes
the Company calculated as set forth in Section 4(h) hereof, the Recipient agrees to pay immediately
the unpaid balance to the Company.

          (j) Board of Director Discretion. The Recipient may be released from his or her
obligations under Sections 4(h) and 4(i) hereof only if the Board, or a duly authorized committee
thereof, determines, in its sole and absolute discretion, that such action is not adverse to the
interests of the Company.

     5. Change of Control or Capital Structure.

          (a) Change in Capital Structure. Subject to any required action by the shareholders
of the Company, the number of Restricted Stock Units covered by this award shall be proportionately
adjusted and the terms of the restrictions on such Restricted Stock Units shall be adjusted as the
Committee shall determine to be equitably required for any increase or decrease in the number of
issued and outstanding shares of Common Stock of the Company resulting from any stock dividend (but
only on the Common Stock), stock split, subdivision, combination, reclassification,
recapitalization or general issuance to the holders of Common Stock of rights
to purchase Common Stock at substantially below fair market value or any change in the number
of such shares outstanding effected without receipt of cash or property or labor or

6

 

services by the
Company or for any spin-off, spin-out, split-up, split-off or other distribution of assets to
shareholders.

          (b) Change in Control. The award of Restricted Stock Units shall not become
immediately vested in the event that a Change in Control occurs, except to the extent required in
any employment agreement or consulting agreement between the Company and the Recipient. In the
event of a change in the Common Stock as presently constituted, which is limited to a change in
all of its authorized shares without par value into the same number of shares with par value, the
shares resulting from any such change shall be deemed to be the Common Stock within the meaning of
the Plan.

          (c) Other Adjustments. The award of Restricted Stock Units pursuant to the Plan shall
not affect in any way the right or power of the Company to make adjustments, reclassifications,
reorganizations or changes of its capital or business structure or to merge or to consolidate or to
dissolve, liquidate or sell, or transfer all or any part of its business or assets.

     6. Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of Delaware, without regard to its principles of conflict of laws. The
parties agree that any action, suit or proceeding arising out of or related to this Agreement or
the relationship of the Recipient and the Company, shall be instituted only in the state or federal
courts located in Maricopa County in the State of Arizona, and each party waives any objection
which such party may now or hereafter have to such venue or jurisdictional court in any action,
suit, or proceeding. Any and all services of process and any other notice in any such action, suit
or proceeding shall be effective against any party if given by mail (registered or certified where
possible, return receipt requested), postage prepaid, mailed to such party at the address set forth
herein.

     7. Severability. The invalidity or enforceability of any one or more provisions of
this Agreement shall not affect the validity or enforceability of any other provision of this
Agreement, which shall remain in full force and effect. In the event that a court of competent
jurisdiction should determine that any time period provided for in Section 4(h) is unenforceable,
then such period shall be reduced to the longest period of time which such court shall deem
enforceable, taking into consideration the purpose and intent of the Plan to serve the interests of
the Company and its shareholders.

     8. Notices. All notices or other communications with respect to the Restricted Stock
Units shall be deemed given and delivered in person or by facsimile transmission, telefaxed, or
mailed by registered or certified mail (return receipt requested, postage prepaid) to the Company’s
Stock Option Administrator at the following address (or such
other address, as shall be specified by like notice of a change of address) and shall be
effective upon receipt:

7

 

Stock Option Administrator

Republic Services, Inc.

18500 N. Allied Way

Phoenix, AZ 85054

     9. Waiver. The failure of any party at any time to require strict performance of any
condition, promise, agreement or understanding set forth herein shall not be construed as a waiver
or relinquishment of the right to require strict performance of the same condition, promise,
agreement or understanding at a subsequent time.

     10. Interpretation/Provisions of Plan Control. In the event of any conflict between
the provisions of the Plan and the provisions of this Agreement, the provisions of the Plan shall
govern. The Recipient hereby accepts as final, conclusive and binding, any decisions by the
Committee with respect to the interpretation or administration of the Plan and this Agreement.

     11. Recipient Bound by Plan. The Recipient hereby acknowledges receipt of a copy of
the Plan and agrees to be bound by all the terms, conditions and provisions thereof.

     12. Binding Effect. Subject to the limitations stated herein and in the Plan, this
Agreement shall be binding upon and inure to the benefit of the successors and assigns of the
Company and the Recipient’s heirs, legatees, distributees and personal representatives.

     13. Counterparts. This Agreement may be signed in any number of counterparts, each of
which shall be an original, with the same effect as if the signatures thereto and hereto were upon
the same instrument. The facsimile or email transmission of a signed signature page, by any party
to the other(s), shall constitute valid execution and acceptance of this Agreement by the
signing/transmitting party.

     14. Section 409A.

          (a) General. It is the intention of both the Company and the Recipient that the
benefits and rights to which the Recipient could be entitled pursuant to this Agreement comply with
Section 409A of the Code and the Treasury Regulations and other guidance promulgated or issued
thereunder (“Section 409A”), to the extent that the requirements of Section 409A are applicable
thereto, and the provisions of this Agreement shall be construed in a manner consistent with that
intention. If the Recipient or the Company believes, at any time, that any such benefit or right
that is subject to Section 409A does not so comply, it shall promptly advise the other and shall
negotiate reasonably and in good faith to amend the terms of such benefits and rights such that
they comply with Section
409A (with the most limited possible economic effect on the Recipient and on the Company).

8

 

          (b) No Representations as to Section 409A Compliance. Notwithstanding the foregoing,
the Company does not make any representation to the Recipient that the Restricted Stock Units
awarded pursuant to this Agreement are exempt from, or satisfy, the requirements of Section 409A,
and the Company shall have no liability or other obligation to indemnify or hold harmless the
Recipient or any Beneficiary for any tax, additional tax, interest or penalties that the Recipient
or any Beneficiary may incur in the event that any provision of this Agreement, or any amendment or
modification thereof or any other action taken with respect thereto is deemed to violate any of the
requirements of Section 409A.

          (c) Separation from Service. If and to the extent permitted by Treasury Regulations
Section 1.409A-1(h)(5) or other applicable law, if the Recipient provides services both as an
employee of the Company and as a member of the Board, the services provided as a member of the
Board shall not be taken into account in determining whether the Recipient has incurred a
Separation from Service for purposes of Section 4(a) hereof.

          (d) 6 Month Delay for Specified Employees.

               (i) If the Recipient is a “Specified Employee”, then no payment or benefit that is payable on
account of the Recipient’s “Separation from Service”, shall be made before the date that is six
months after the Recipient’s “Separation from Service” (or, if earlier, the date of the Recipient’s
death) if and to the extent that such payment or benefit constitutes deferred compensation (or may
be nonqualified deferred compensation) under Section 409A and such deferral is required to comply
with the requirements of Section 409A. Any payment or benefit delayed by reason of the prior
sentence shall be paid out or provided in a single lump sum at the end of such required delay
period in order to catch up to the original payment schedule.

               (ii) For purposes of this provision, the Recipient shall be considered to be a “specified
employee” if, at the time of his or her separation from service, the Recipient is a “key employee”,
within the meaning of Section 416(i) of the Code, of the Company (or any person or entity with whom
the Company would be considered a single employer under Section 414(b) or Section 414(c) of the
Code) any stock in which is publicly traded on an established securities market or otherwise.

          (e) No Acceleration of Payments. Neither the Company nor the Recipient, individually
or in combination, may accelerate any payment or benefit that is subject to Section 409A, except in
compliance with Section 409A and the provisions of this
Agreement, and no amount that is subject to Section 409A shall be paid prior to the earliest
date on which it may be paid without violating Section 409A.

9

 

     IN WITNESS WHEREOF, the Company has caused this Agreement to be signed by a duly authorized
officer, and the Recipient has affixed his or her signature hereto.

	 	 	 	 	 
	 	REPUBLIC SERVICES, INC.

 	 
	 	By:  	James E. O’Connor
 	 
	 	 	Chairman of the Board and Chief Executive Officer
 	 
	 	 	RECIPIENT 	 
	 	  	
 	 
	 

10

 

EXHIBIT A

NOTICE OF RESTRICTED STOCK UNIT TRANSFER

     Republic Services, Inc., a Delaware corporation (the “Company”) and the undersigned
person (the “Recipient”) entered into an Employee Restricted Stock Unit Agreement (the
“Agreement”), effective                 and made pursuant and subject to the provisions of the Company’s 2007 Stock
Incentive Plan, as it may be amended from time to time (the “Plan”).

     Pursuant to Section 15(g) of the Plan and Section 4(g) of the Agreement, the Recipient (or the
Recipient’s estate) transferred for no value Restricted Stock Units granted under the Agreement, as
stated below, to the person or entity described below (the “Transferee”).

     Number of Restricted Stock Units transferred:                                         

     Date of transfer:                                                             

     The Transferee is a permitted transferee under Section 15(g) of the Plan and Section 4(g) of
the Agreement for the following reason:

     o Transfer by will or the laws of descent and distribution.

     o Transfer pursuant to a Qualified Domestic Relations Order.

     o Transfer to one of the following family members listed in Section 4(g)(ii) of the
Agreement: a child, 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.

     o Transfer to a member of the Recipient’s household (other than a tenant or an
employee).

     o Transfer to a trust in which the Recipient, a member of the Recipient’s family, or
a member of the Recipient’s household has more than a 50% beneficial interest.

11

 

     o Transfer to a foundation in which the Recipient, a member of the Recipient’s
family, or a member of the Recipient’s household controls the management of the foundation’s
assets.

     o Transfer to an entity in which the Recipient, a member of the Recipient’s family,
or a member of the Recipient’s household owns more than 50% of the voting interest.

     If the Transferee is a natural person, the nature of the relationship between the Recipient
and the Transferee is as follows:

     
 

     If the Transferee is something other than a natural person, details regarding the Recipient’s
(or a family member’s or a household member’s) beneficial interest, control or voting interest in
the Transferee is as follows:

     
 

     The Recipient acknowledges that at the time the Award is settled, the Recipient will be taxed
at ordinary income rates on the excess, if any, of the fair market value of the cash or stock when
received in settlement of the transferred Restricted Stock Units.

     This Notice is being furnished to the Company along with a copy of the will, assignment or
transfer document and/or such evidence as the Committee may deem necessary to establish the
validity of the transfer. An agreement signed by the Transferee acknowledging that all rights and
obligations with respect to the transferred Restricted Stock Units shall be governed by the terms
and conditions set forth in the Agreement and Plan is also being furnished to the Company.

     The aforementioned documents are being delivered to the Company in satisfaction of the
Recipient’s obligations under Section 4(g)(iii) of the Agreement, to Stock Option Administrator at
the following address:

   Stock Option Administrator

   Republic Services, Inc.

   18500 North Allied Way

   Phoenix, Arizona 85054

12

 

RECIPIENT

                                                            

Signature

                                                            

Print or Type Name

                                                            

Street Address

                                                            

City, State, Zip

                                                            

Telephone Number

                                                            

Social Security Number

                                                            

Date

13

 

EXHIBIT B

STATEMENT OF ACKNOWLEDGEMENT

     On [  ], [  ] (the “Transferor”) entered into an Employee Restricted Stock Unit Agreement
(the “Agreement”) with Republic Services, Inc. (the “Company”), pursuant and subject to the
provisions of the Company’s 2007 Stock Incentive Plan, as it may be amended from time to time (the
“Plan”). Pursuant to Section 15(g) of the Plan and Section 4(g) of the Agreement, on [     
] the Transferor (or the Transferor’s estate) transferred for no value [  ]
Restricted Stock Units granted under the Agreement to [  ] (the “Transferee”).

     The Transferee hereby acknowledges and agrees that the Transferee is a permitted transferee
under to Section 15(g) of the Plan and Section 4(g) of the Agreement. The Transferee further
acknowledges and agrees that the Transferee’s rights and obligations with respect to the
transferred Restricted Stock Units shall be governed by the terms and conditions set forth in the
Agreement and the Plan, as they are or would have been applicable to the Transferor, and that the
Transferee will comply with such terms and conditions, including, without limitation, those
provisions relating to the dates on which the Restricted Stock Units will vest, and those relating
to the forfeiture and repayment of benefits in the event that the Transferor engages in any
Detrimental Activity, as defined in the Plan.

TRANSFEREE

                                                            

Signature

                                                            

Print or Type Name

                                                            

Street Address

                                                            

City, State, Zip

                                                            

Telephone Number

                                                            

14

 

Tax Identifying Number

Date: [     
               ]

15

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}]]