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Unassociated Document

     

     

    HEALTHCARE
      ACQUISITION CORP.

     

      

     

    2007
      LONG-TERM INCENTIVE COMPENSATION PLAN 

     

    ARTICLE
      I

     

    PURPOSE
      

     

    Section
      1.1 Purpose.
      This
      2007 Long-Term Incentive Compensation Plan (the “Plan”) is established by
      Healthcare Acquisition Corp., a Delaware corporation (the “Company”), to create
      incentives which are designed to motivate Participants to put forth maximum
      effort toward the success and growth of the Company and to enable the Company
      to
      attract and retain experienced individuals who by their position, ability and
      diligence are able to make important contributions to the Company’s success.
      Toward these objectives, the Plan provides for the grant of Options, Restricted
      Stock Awards, Stock Appreciation Rights (“SARs”), Performance Units and
      Performance Bonuses to Eligible Employees and the grant of Nonqualified Stock
      Options, Restricted Stock Awards, SARs and Performance Units to Consultants
      and
      Eligible Directors, subject to the conditions set forth in the Plan.

     

    Section
      1.2 Establishment.
      The Plan
      is effective as of [___________], 2007 and for a period of ten years thereafter.
      The Plan shall continue in effect until all matters relating to the payment
      of
      Awards and administration of the Plan have been settled. The Plan is subject
      to
      approval by the Company’s stockholders in accordance with applicable law which
      approval must occur within the period ending twelve months after the date the
      Plan is adopted by the Board. Pending such approval by the stockholders, Awards
      under the Plan may be granted, but no such Awards may be exercised prior to
      receipt of stockholder approval. In the event stockholder approval is not
      obtained within a twelve-month period, all Awards granted shall be void.

     

    Section
      1.3 Shares Subject to the Plan.
      Subject
      to the limitations set forth in the Plan, Awards may be made under this Plan
      for
      a total of 3,500,000 shares of the Company’s common stock, par value $.0001 per
      share (the “Common Stock”). 

     

    ARTICLE
      II

     

    DEFINITIONS
      

     

    Section
      2.1 “Account”
means
      the recordkeeping account established by the Company to which will be credited
      an Award of Performance Units to a Participant. 

     

    Section
      2.2 “Affiliated Entity”
      means
      any corporation, partnership, limited liability company or other form of legal
      entity in which a majority of the partnership or other similar interest thereof
      is owned or controlled, directly or indirectly, by the Company or one or more
      of
      its Subsidiaries or Affiliated Entities or a combination thereof. For purposes
      hereof, the Company, a Subsidiary or an Affiliated Entity shall be deemed to
      have a majority ownership interest in a partnership or limited liability company
      if the Company, such Subsidiary or Affiliated Entity shall be allocated a
      majority of partnership or limited liability company gains or losses or shall
      be
      or control a managing director or a general partner of such partnership or
      limited liability company. 

     

    Section
      2.3 “Award”
      means,
      individually or collectively, any Option, Restricted Stock Award, SAR,
      Performance Unit or Performance Bonus granted under the Plan to an Eligible
      Employee by the Board or any Nonqualified Stock Option, Performance Unit SAR
      or
      Restricted Stock Award granted under the Plan to a Consultant or an Eligible
      Director by the Board pursuant to such terms, conditions, restrictions, and/or
      limitations, if any, as the Board may establish by the Award Agreement or
      otherwise. 

     

    Section
      2.4 “Award Agreement”
      means
      any written instrument that establishes the terms, conditions, restrictions,
      and/or limitations applicable to an Award in addition to those established
      by
      this Plan and by the Board’s exercise of its administrative powers.

     

    Section
      2.5 “Board”
      means
      the Board of Directors of the Company and, if the Board has appointed a
      Committee as provided in Section 3.1, the term “Board” shall include such
      Committee. 

     

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    Section
      2.6 “Change of Control Event” means
      each of the following: 

     

    (i)
      Any
      transaction in which shares of voting securities of the Company representing
      more than 50% of the total combined voting power of all outstanding voting
      securities of the Company are issued by the Company, or sold or transferred
      by
      the stockholders of the Company as a result of which those persons and entities
      who beneficially owned voting securities of the Company representing more than
      50% of the total combined voting power of all outstanding voting securities
      of
      the Company immediately prior to such transaction cease to beneficially own
      voting securities of the Company representing more than 50% of the total
      combined voting power of all outstanding voting securities of the Company
      immediately after such transaction; 

     

    (ii)
      The
      merger or consolidation of the Company with or into another entity as a result
      of which those persons and entities who beneficially owned voting securities
      of
      the Company representing more than 50% of the total combined voting power of
      all
      outstanding voting securities of the Company immediately prior to such merger
      or
      consolidation cease to beneficially own voting securities of the Company
      representing more than 50% of the total combined voting power of all outstanding
      voting securities of the surviving corporation or resulting entity immediately
      after such merger of consolidation; or 

     

    (iii)
      The
      sale of all or substantially all of the Company’s assets to an entity of which
      those persons and entities who beneficially owned voting securities of the
      Company representing more than 50% of the total combined voting power of all
      outstanding voting securities of the Company immediately prior to such asset
      sale do not beneficially own voting securities of the purchasing entity
      representing more than 50% of the total combined voting power of all outstanding
      voting securities of the purchasing entity immediately after such asset sale.
      

     

    Section
      2.7 “Code”
      means
      the Internal Revenue Code of 1986, as amended. References in the Plan to any
      section of the Code shall be deemed to include any amendments or successor
      provisions to such section and any regulations under such section. 

     

    Section
      2.8 “Committee”
      means
      the Committee appointed by the Board as provided in Section 3.1. 

     

    Section
      2.9 “Common Stock”
      means
      the common stock, par value $.0001 per share, of the Company, and after
      substitution, such other stock as shall be substituted therefore as provided
      in
      Article X. 

     

    Section
      2.10 “Consultant”
      means
      any person who is engaged by the Company, a Subsidiary or an Affiliated Entity
      to render consulting or advisory services. 

     

    Section
      2.11 “Date of Grant”
      means
      the date on which the grant of an Award is authorized by the Board or such
      later
      date as may be specified by the Board in such authorization. 

     

    Section
      2.12 “Disability”
      means
      the Participant is unable to continue employment by reason of any medically
      determinable physical or mental impairment which can be expected to result
      in
      death or can be expected to last for a continuous period of not less than 12
      months. For purposes of this Plan, the determination of Disability shall be
      made
      in the sole and absolute discretion of the Board. 

     

    Section
      2.13 “Eligible Employee”
      means
      any employee of the Company, a Subsidiary, or an Affiliated Entity as approved
      by the Board. 

     

    Section
      2.14 “Eligible Director”
      means
      any member of the Board who is not an employee of the Company, a Subsidiary
      or
      an Affiliated Entity. 

     

    Section
      2.15 “Exchange Act”
      means
      the Securities Exchange Act of 1934, as amended. 

     

    Section
      2.16 “Fair Market Value”
      means
      (A) during such time as the Common Stock is registered under Section 12 of
      the
      Exchange Act, the closing price of the Common Stock as reported by an
      established stock exchange or automated quotation system on the day for which
      such value is to be determined, or, if no sale of the Common Stock shall have
      been made on any such stock exchange or automated quotation system that day,
      on
      the next preceding day on which there was a sale of such Common Stock, or (B)
      during any such time as the Common Stock is not listed upon an established
      stock
      exchange or automated quotation system, the mean between dealer “bid” and “ask”
prices of the Common Stock in the over-the-counter market on the day for

     

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    which
      such value is to be determined, as reported by the National Association of
      Securities Dealers, Inc., or (C) during any such time as the Common Stock cannot
      be valued pursuant to (A) or (B) above, the fair market value shall be as
      determined by the Board considering all relevant information including, by
      example and not by limitation, the services of an independent appraiser.

     

    Section
      2.17 “Incentive Stock Option”
      means an
      Option within the meaning of Section 422 of the Code. 

     

    Section
      2.18 “Nonqualified Stock Option”
      means an
      Option which is not an Incentive Stock Option. 

     

    Section
      2.19 “Option”
      means an
      Award granted under Article V of the Plan and includes both Nonqualified Stock
      Options and Incentive Stock Options to purchase shares of Common Stock.

     

    Section
      2.20 “Participant”
      means an
      Eligible Employee, a Consultant or an Eligible Director to whom an Award has
      been granted by the Board under the Plan. 

     

    Section
      2.21 “Performance Bonus”
      means
      the cash bonus which may be granted to Eligible Employees under Article IX
      of
      the Plan. 

     

    Section
      2.22 “Performance Units”
      means
      those monetary units that may be granted to Eligible Employees, Consultants
      or
      Eligible Directors pursuant to Article VIII hereof. 

     

    Section
      2.23 “Plan”
      means
      this Healthcare Acquisition Corp. 2007 Long-Term Incentive Compensation Plan.
      

     

    Section
      2.24 “Restricted Stock Award”
      means an
      Award granted to an Eligible Employee, Consultant or Eligible Director under
      Article VI of the Plan. 

     

    Section
      2.25 “Retirement”
      means
      the termination of an Eligible Employee’s employment with the Company, a
      Subsidiary or an Affiliated Entity on or after attaining age __. 

     

    Section
      2.26 “SAR”
      means a
      stock appreciation right granted to an Eligible Employee, Consultant or Eligible
      Director under Article VII of the Plan. 

     

    Section
      2.27 “Subsidiary”
      shall
      have the same meaning set forth in Section 424 of the Code. 

     

    ARTICLE
      III

     

    ADMINISTRATION
      

     

    Section
      3.1 Administration of the Plan by the Board.
      The
      Board shall administer the Plan. The Board may, by resolution, appoint the
      Compensation Committee to administer the Plan and delegate its powers described
      under this Section 3.1 and otherwise under the Plan for purposes of Awards
      granted to Eligible Employees and Consultants. 

     

    Subject
      to the provisions of the Plan, the Board shall have exclusive power to:

     

    (a)
      Select Eligible Employees and Consultants to participate in the Plan.

     

    (b)
      Determine the time or times when Awards will be made to Eligible Employees
      or
      Consultants. 

     

    (c)
      Determine the form of an Award, whether an Incentive Stock Option, Nonqualified
      Stock Option, Restricted Stock Award, SAR, Performance Unit, or Performance
      Bonus, the number of shares of Common Stock or Performance Units subject to
      the
      Award, the amount and all the terms, conditions (including performance
      requirements), restrictions and/or limitations, if any, of an Award, including
      the time and conditions of exercise or vesting, and the terms of any Award
      Agreement, which may include the waiver or amendment of prior terms and
      conditions or acceleration or early vesting or payment of an Award under certain
      circumstances determined by the Board. 

     

    (d)
      Determine whether Awards will be granted singly or in combination. 

     

    (e)
      Accelerate the vesting, exercise or payment of an Award or the performance
      period of an Award. 

     

    (f)
      Determine whether and to what extent a Performance Bonus may be deferred, either
      automatically or at the election of the Participant or the Board. 

     

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    (g)
      Take
      any and all other action it deems necessary or advisable for the proper
      operation or administration of the Plan. 

     

    Section
      3.2 Administration of Grants to Eligible Directors.
      The
      Board shall have the exclusive power to select Eligible Directors to participate
      in the Plan and to determine the number of Nonqualified Stock Options,
      Performance Units, SARs or shares of Restricted Stock awarded to Eligible
      Directors selected for participation. If the Board appoints a committee to
      administer the Plan, it may delegate to the committee administration of all
      other aspects of the Awards made to Eligible Directors. 

     

    Section
      3.3 Board to Make Rules and Interpret Plan.
      The
      Board in its sole discretion shall have the authority, subject to the provisions
      of the Plan, to establish, adopt, or revise such rules and regulations and
      to
      make all such determinations relating to the Plan, as it may deem necessary
      or
      advisable for the administration of the Plan. The Board’s interpretation of the
      Plan or any Awards and all decisions and determinations by the Board with
      respect to the Plan shall be final, binding, and conclusive on all parties.
      

     

    Section
      3.4 Section 162(m) Provisions.
      The
      Company intends for the Plan and the Awards made there under to qualify for
      the
      exception from Section 162(m) of the Code for “qualified performance based
      compensation” if it is determined by the Board that such qualification is
      necessary for an Award. Accordingly, the Board shall make determinations as
      to
      performance targets and all other applicable provisions of the Plan as necessary
      in order for the Plan and Awards made there under to satisfy the requirements
      of
      Section 162(m) of the Code. 

     

    ARTICLE
      IV

     

    GRANT
      OF AWARDS 

     

    Section
      4.1 Grant of Awards.
      Awards
      granted under this Plan shall be subject to the following conditions:

     

    (a)
      Any
      shares of Common Stock related to Awards which terminate by expiration,
      forfeiture, cancellation or otherwise without the issuance of shares of Common
      Stock or are exchanged in the Board’s discretion for Awards not involving Common
      Stock, shall be available again for grant under the Plan and shall not be
      counted against the shares authorized under Section 1.3. 

     

    (b)
      Common Stock delivered by the Company in payment of an Award authorized under
      Articles V and VI of the Plan may be authorized and unissued Common Stock or
      Common Stock held in the treasury of the Company. 

     

    (c)
      The
      Board shall, in its sole discretion, determine the manner in which fractional
      shares arising under this Plan shall be treated. 

     

    (d)
      Separate certificates or a book-entry registration representing Common Stock
      shall be delivered to a Participant upon the exercise of any Option.

     

    (e)
      The
      Board shall be prohibited from canceling, reissuing or modifying Awards if
      such
      action will have the effect of repricing the Participant’s Award. 

     

    (f)
      Eligible Directors may only be granted Nonqualified Stock Options, Restricted
      Stock Awards, SARs or Performance Units under this Plan. 

     

    (g)
      The
      maximum term of any Award shall be ten years. 

     

    ARTICLE
      V

     

    STOCK
      OPTIONS 

     

    Section
      5.1 Grant of Options.
      The
      Board may, from time to time, subject to the provisions of the Plan and such
      other terms and conditions as it may determine, grant Options to Eligible
      Employees. These Options may be Incentive Stock Options or Nonqualified Stock
      Options, or a combination of both. The Board may, subject to the provisions
      of
      the Plan and such other terms and conditions as it may determine, grant
      Nonqualified Stock Options to Eligible Directors and Consultants. Each grant
      of
      an Option shall be evidenced by an Award Agreement executed by the Company
      and
      the Participant, and shall contain such terms and conditions and be in such
      form
      as the Board may from time to time approve, subject to the requirements of
      Section 5.2. 

     

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    Section
      5.2 Conditions of Options.
      Each
      Option so granted shall be subject to the following conditions: 

     

    (a)
      Exercise Price. As limited by Section 5.2(e) below, each Option shall state
      the
      exercise price which shall be set by the Board at the Date of Grant; provided,
      however, no Option shall be granted at an exercise price which is less than
      the
      Fair Market Value of the Common Stock on the Date of Grant. 

     

    (b)
      Form
      of Payment. The exercise price of an Option may be paid (i) in cash or by check,
      bank draft or money order payable to the order of the Company; (ii) by
      delivering shares of Common Stock having a Fair Market Value on the date of
      payment equal to the amount of the exercise price, but only to the extent such
      exercise of an Option would not result in an adverse accounting charge to the
      Company for financial accounting purposes with respect to the shares used to
      pay
      the exercise price unless otherwise determined by the Board; or (iii) a
      combination of the foregoing. In addition to the foregoing, the Board may permit
      an Option granted under the Plan to be exercised by a broker-dealer acting
      on
      behalf of a Participant through procedures approved by the Board. 

     

    (c)
      Exercise of Options. Options granted under the Plan shall be exercisable, in
      whole or in such installments and at such times, and shall expire at such time,
      as shall be provided by the Board in the Award Agreement. Exercise of an Option
      shall be by written notice to the Secretary of the Company at least two business
      days in advance of such exercise stating the election to exercise in the form
      and manner determined by the Board. Every share of Common Stock acquired through
      the exercise of an Option shall be deemed to be fully paid at the time of
      exercise and payment of the exercise price. 

     

    (d)
      Other
      Terms and Conditions. Among other conditions that may be imposed by the Board,
      if deemed appropriate, are those relating to (i) the period or periods and
      the
      conditions of exercisability of any Option; (ii) the minimum periods during
      which Participants must be employed by the Company, its Subsidiaries, or an
      Affiliated Entity, or must hold Options before they may be exercised; (iii)
      the
      minimum periods during which shares acquired upon exercise must be held before
      sale or transfer shall be permitted; (iv) conditions under which such Options
      or
      shares may be subject to forfeiture; (v) the frequency of exercise or the
      minimum or maximum number of shares that may be acquired at any one time; (vi)
      the achievement by the Company of specified performance criteria; and (vii)
      non-compete and protection of business matters. 

     

    (e)
      Special Restrictions Relating to Incentive Stock Options. Options issued in
      the
      form of Incentive Stock Options shall only be granted to Eligible Employees
      of
      the Company or a Subsidiary, and not to Eligible Employees of an Affiliated
      Entity unless such entity shall be considered as a “disregarded entity” under
      the Code and shall not be distinguished for federal tax purposes from the
      Company or the applicable Subsidiary. 

     

    (f)
      Application of Funds. The proceeds received by the Company from the sale of
      Common Stock pursuant to Options will be used for general corporate purposes.
      

     

    (g)
      Stockholder Rights. No Participant shall have a right as a stockholder with
      respect to any share of Common Stock subject to an Option prior to purchase
      of
      such shares of Common Stock by exercise of the Option. 

     

    ARTICLE
      VI

     

    RESTRICTED
      STOCK AWARDS 

     

    Section
      6.1 Grant of Restricted Stock Awards.
      The
      Board may, from time to time, subject to the provisions of the Plan and such
      other terms and conditions as it may determine, grant a Restricted Stock Award
      to Eligible Employees, Consultants or Eligible Directors. Restricted Stock
      Awards shall be awarded in such number and at such times during the term of
      the
      Plan as the Board shall determine. Each Restricted Stock Award shall be subject
      to an Award Agreement setting forth the terms of such Restricted Stock Award
      and
      may be evidenced in such manner as the Board deems appropriate, including,
      without limitation, a book-entry registration or issuance of a stock certificate
      or certificates. 

     

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    Section
      6.2 Conditions of Restricted Stock Awards.
      The
      grant of a Restricted Stock Award shall be subject to the following:

     

    (a)
      Restriction Period. Restricted Stock Awards granted to an Eligible Employee
      shall require the holder to remain in the employment of the Company, a
      Subsidiary, or an Affiliated Entity for a prescribed period. Restricted Stock
      Awards granted to Consultants or Eligible Directors shall require the holder
      to
      provide continued services to the Company for a period of time. These employment
      and service requirements are collectively referred to as a “Restriction Period”.
      The Board or the Committee, as the case may be, shall determine the Restriction
      Period or Periods which shall apply to the shares of Common Stock covered by
      each Restricted Stock Award or portion thereof. In addition to any time vesting
      conditions determined by the Board or the Committee, as the case may be,
      Restricted Stock Awards may be subject to the achievement by the Company of
      specified performance criteria based upon the Company’s achievement of all or
      any of the operational, financial or stock performance criteria set forth on
      Exhibit A annexed hereto, as may from time to time be established by the Board
      or the Committee, as the case may be. At the end of the Restriction Period,
      assuming the fulfillment of any other specified vesting conditions, the
      restrictions imposed by the Board or the Committee, as the case may be shall
      lapse with respect to the shares of Common Stock covered by the Restricted
      Stock
      Award or portion thereof. In addition to acceleration of vesting upon the
      occurrence of a Change of Control Event as provided in Section 11.5, the Board
      or the Committee, as the case may be, may, in its discretion, accelerate the
      vesting of a Restricted Stock Award in the case of the death, Disability or
      Retirement of the Participant who is an Eligible Employee or resignation of
      a
      Participant who is a Consultants or an Eligible Director. 

     

    (b)
      Restrictions. The holder of a Restricted Stock Award may not sell, transfer,
      pledge, exchange, hypothecate, or otherwise dispose of the shares of Common
      Stock represented by the Restricted Stock Award during the applicable
      Restriction Period. The Board shall impose such other restrictions and
      conditions on any shares of Common Stock covered by a Restricted Stock Award
      as
      it may deem advisable including, without limitation, restrictions under
      applicable Federal or state securities laws, and may legend the certificates
      representing Restricted Stock to give appropriate notice of such restrictions.
      

     

    (c)
      Rights as Stockholders. During any Restriction Period, the Board may, in its
      discretion, grant to the holder of a Restricted Stock Award all or any of the
      rights of a stockholder with respect to the shares, including, but not by way
      of
      limitation, the right to vote such shares and to receive dividends. If any
      dividends or other distributions are paid in shares of Common Stock, all such
      shares shall be subject to the same restrictions on transferability as the
      shares of Restricted Stock with respect to which they were paid. 

     

    ARTICLE
      VII

     

    STOCK
      APPRECIATION RIGHTS 

     

    Section
      7.1 Grant of SARs.
      The
      Board may from time to time, in its sole discretion, subject to the provisions
      of the Plan and subject to other terms and conditions as the Board may
      determine, grant a SAR to any Eligible Employee, Consultant or Eligible
      Director. SARs may be granted in tandem with an Option, in which event, the
      Participant has the right to elect to exercise either the SAR or the Option.
      Upon the Participant’s election to exercise one of these Awards, the other
      tandem Award is automatically terminated. SARs may also be granted as an
      independent Award separate from an Option. Each grant of a SAR shall be
      evidenced by an Award Agreement executed by the Company and the Participant
      and
      shall contain such terms and conditions and be in such form as the Board may
      from time to time approve, subject to the requirements of the Plan. The exercise
      price of the SAR shall not be less than the Fair Market Value of a share of
      Common Stock on the Date of Grant of the SAR. 

     

    Section
      7.2 Exercise and Payment.
      SARs
      granted under the Plan shall be exercisable in whole or in installments and
      at
      such times as shall be provided by the Board in the Award Agreement. Exercise
      of
      a SAR shall be by written notice to the Secretary of the Company at least two
      business days in advance of such exercise. The amount payable with respect
      to
      each SAR shall be equal in value to the excess, if any, of the Fair Market
      Value
      of a share of Common Stock on the exercise date over the exercise price of
      the
      SAR. Payment of amounts attributable to a SAR shall be made in shares of Common
      Stock. 

     

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    Section
      7.3 Restrictions.
      In the
      event a SAR is granted in tandem with an Incentive Stock Option, the Board
      shall
      subject the SAR to restrictions necessary to ensure satisfaction of the
      requirements under Section 422 of the Code. In the case of a SAR granted in
      tandem with an Incentive Stock Option to an Eligible Employee who owns more
      than
      10% of the combined voting power of the Company or its Subsidiaries on the
      date
      of such grant, the amount payable with respect to each SAR shall be equal in
      value to the applicable percentage of the excess, if any, of the Fair Market
      Value of a share of Common Stock on the Exercise date over the exercise price
      of
      the SAR, which exercise price shall not be less than 110% of the Fair Market
      Value of a share of Common Stock on the date the SAR is granted. 

     

    ARTICLE
      VIII

     

    PERFORMANCE
      UNITS 

     

    Section
      8.1 Grant of Awards.
      The
      Board may, from time to time, subject to the provisions of the Plan and such
      other terms and conditions as it may determine, grant Performance Units to
      Eligible Employees, Consultants and Eligible Directors. Each Award of
      Performance Units shall be evidenced by an Award Agreement executed by the
      Company and the Participant, and shall contain such terms and conditions and
      be
      in such form as the Board may from time to time approve, subject to the
      requirements of Section 8.2. 

     

    Section
      8.2 Conditions of Awards.
      Each
      Award of Performance Units shall be subject to the following conditions:

     

    (a)
      Establishment of Award Terms. Each Award shall state the target, maximum and
      minimum value of each Performance Unit payable upon the achievement of
      performance goals. 

     

    (b)
      Achievement of Performance Goals. The Board shall establish performance targets
      for each Award for a period of no less than a year based upon some or all of
      the
      operational, financial or performance criteria listed in Exhibit A attached.
      The
      Board shall also establish such other terms and conditions as it deems
      appropriate to such Award. The Award may be paid out in cash or Common Stock
      as
      determined in the sole discretion of the Board. 

     

    ARTICLE
      IX

     

    PERFORMANCE
      BONUS 

     

    Section
      9.1 Grant of Performance Bonus.
      The
      Board may from time to time, subject to the provisions of the Plan and such
      other terms and conditions as the Board may determine, grant a Performance
      Bonus
      to certain Eligible Employees selected for participation. The Board will
      determine the amount that may be earned as a Performance Bonus in any period
      of
      one year or more upon the achievement of a performance target established by
      the
      Board. The Board shall select the applicable performance target(s) for each
      period in which a Performance Bonus is awarded. The performance target shall
      be
      based upon all or some of the operational, financial or performance criteria
      more specifically listed in Exhibit A attached. 

     

    Section
      9.2 Payment of Performance Bonus.
      In order
      for any Participant to be entitled to payment of a Performance Bonus, the
      applicable performance target(s) established by the Board must first be obtained
      or exceeded. Payment of a Performance Bonus shall be made within 60 days of
      the
      Board’s certification that the performance target(s) has been achieved unless
      the Participant has previously elected to defer payment pursuant to a
      nonqualified deferred compensation plan adopted by the Company. Payment of
      a
      Performance Bonus may be made in either cash or Common Stock as determined
      in
      the sole discretion of the Board. 

     

    ARTICLE
      X

     

    STOCK
      ADJUSTMENTS 

     

    In
      the
      event that the shares of Common Stock, as constituted on the effective date
      of
      the Plan, shall be changed into or exchanged for a different number or kind
      of
      shares of stock or other securities of the Company or of another corporation
      (whether by reason of merger, consolidation, recapitalization, reclassification,
      stock split, spin-off, combination of shares or otherwise), or if the number
      of
      such shares of Common Stock shall be increased through the payment of a stock
      dividend, or a dividend on the shares of Common Stock, or if rights or warrants
      to purchase securities of the Company shall be issued to holders of all
      outstanding Common Stock, then there shall be substituted for or added to each
      share available under and subject to the Plan, and each share theretofore
      appropriated under the Plan, the number and kind of shares of stock or other
      

     

    C-7

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    securities
      into which each outstanding share of Common Stock shall be so changed or for
      which each such share shall be exchanged or to which each such share shall
      be
      entitled, as the case may be, on a fair and equivalent basis in accordance
      with
      the applicable provisions of Section 424 of the Code; provided, however, with
      respect to Options, in no such event will such adjustment result in a
      modification of any Option as defined in Section 424(h) of the Code. In the
      event there shall be any other change in the number or kind of the outstanding
      shares of Common Stock, or any stock or other securities into which the Common
      Stock shall have been changed or for which it shall have been exchanged, then
      if
      the Board shall, in its sole discretion, determine that such change equitably
      requires an adjustment in the shares available under and subject to the Plan,
      or
      in any Award, theretofore granted, such adjustments shall be made in accordance
      with such determination, except that no adjustment of the number of shares
      of
      Common Stock available under the Plan or to which any Award relates that would
      otherwise be required shall be made unless and until such adjustment either
      by
      itself or with other adjustments not previously made would require an increase
      or decrease of at least 1% in the number of shares of Common Stock available
      under the Plan or to which any Award relates immediately prior to the making
      of
      such adjustment (the “Minimum Adjustment”). Any adjustment representing a change
      of less than such minimum amount shall be carried forward and made as soon
      as
      such adjustment together with other adjustments required by this Article X
      and
      not previously made would result in a Minimum Adjustment. Notwithstanding the
      foregoing, any adjustment required by this Article X which otherwise would
      not
      result in a Minimum Adjustment shall be made with respect to shares of Common
      Stock relating to any Award immediately prior to exercise, payment or settlement
      of such Award. No fractional shares of Common Stock or units of other securities
      shall be issued pursuant to any such adjustment, and any fractions resulting
      from any such adjustment shall be eliminated in each case by rounding downward
      to the nearest whole share. 

     

    ARTICLE
      XI

     

    GENERAL
      

     

    Section
      11.1 Amendment or Termination of Plan.
      The
      Board may alter, suspend or terminate the Plan at any time provided, however,
      that it may not, without stockholder approval, adopt any amendment which would
      (i) increase the aggregate number of shares of Common Stock available under
      the
      Plan (except by operation of Article X), (ii) materially modify the requirements
      as to eligibility for participation in the Plan, or (iii) materially increase
      the benefits to Participants provided by the Plan. 

     

    Section
      11.2 Termination of Employment; Termination of Service.
      If an
      Eligible Employee’s employment with the Company, a Subsidiary or an Affiliated
      Entity terminates as a result of death, Disability or Retirement, the Eligible
      Employee (or personal representative in the case of death) shall be entitled
      to
      purchase all or any part of the shares subject to any (i) vested Incentive
      Stock
      Option for a period of up to three months from such date of termination (one
      year in the case of death or Disability (as defined above) in lieu of the
      three-month period), and (ii) vested Nonqualified Stock Option during the
      remaining term of the Option. If an Eligible Employee’s employment terminates
      for any other reason, the Eligible Employee shall be entitled to purchase all
      or
      any part of the shares subject to any vested Option for a period of up to three
      months from such date of termination. In no event shall any Option be
      exercisable past the term of the Option. The Board may, in its sole discretion,
      accelerate the vesting of unvested Options in the event of termination of
      employment of any Participant. 

     

    In
      the
      event a Consultant ceases to provide services to the Company or an Eligible
      Director terminates service as a director of the Company, the unvested portion
      of any Award shall be forfeited unless otherwise accelerated pursuant to the
      terms of the Eligible Director’s Award Agreement or by the Board. The Consultant
      or Eligible Director shall have a period of three years following the date
      he
      ceases to provide consulting services or ceases to be a director, as applicable,
      to exercise any Nonqualified Stock Options which are otherwise exercisable
      on
      his date of termination of service. 

     

    Section
      11.3 Limited Transferability - Options.
      The
      Board may, in its discretion, authorize all or a portion of the Nonqualified
      Stock Options granted under this Plan to be on terms which permit transfer
      by
      the Participant to (i) the ex-spouse of the Participant pursuant to the terms
      of
      a domestic relations order, (ii) the spouse, children or grandchildren of the
      Participant (“Immediate Family Members”), (iii) a trust or trusts for the
      exclusive benefit of such Immediate Family Members, or (iv) a partnership or
      limited liability company in which such Immediate Family Members are the only
      partners or members. In addition, there may be no 

     

    C-8

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    consideration
      for any such transfer. The Award Agreement pursuant to which such Nonqualified
      Stock Options are granted expressly provide for transferability in a manner
      consistent with this paragraph. Subsequent transfers of transferred Nonqualified
      Stock Options shall be prohibited except as set forth below in this Section
      11.3. Following transfer, any such Nonqualified Stock Options shall continue
      to
      be subject to the same terms and conditions as were applicable immediately
      prior
      to transfer, provided that for purposes of Section 11.2 hereof the term
“Participant” shall be deemed to refer to the transferee. The events of
      termination of employment of Section 11.2 hereof shall continue to be applied
      with respect to the original Participant, following which the Nonqualified
      Stock
      Options shall be exercisable by the transferee only to the extent, and for
      the
      periods specified in Section 11.2 hereof. No transfer pursuant to this Section
      11.3 shall be effective to bind the Company unless the Company shall have been
      furnished with written notice of such transfer together with such other
      documents regarding the transfer as the Board shall request. With the exception
      of a transfer in compliance with the foregoing provisions of this Section 11.3,
      all other types of Awards authorized under this Plan shall be transferable
      only
      by will or the laws of descent and distribution; however, no such transfer
      shall
      be effective to bind the Company unless the Board has been furnished with
      written notice of such transfer and an authenticated copy of the will and/or
      such other evidence as the Board may deem necessary to establish the validity
      of
      the transfer and the acceptance by the transferee of the terms and conditions
      of
      such Award. 

     

    Section
      11.4 Withholding Taxes.
      Unless
      otherwise paid by the Participant, the Company, its Subsidiaries or any of
      its
      Affiliated Entities shall be entitled to deduct from any payment under the
      Plan,
      regardless of the form of such payment, the amount of all applicable income
      and
      employment taxes required by law to be withheld with respect to such payment
      or
      may require the Participant to pay to it such tax prior to and as a condition
      of
      the making of such payment. In accordance with any applicable administrative
      guidelines it establishes, the Board may allow a Participant to pay the amount
      of taxes required by law to be withheld from an Award by (i) directing the
      Company to withhold from any payment of the Award a number of shares of Common
      Stock having a Fair Market Value on the date of payment equal to the amount
      of
      the required withholding taxes or (ii) delivering to the Company previously
      owned shares of Common Stock having a Fair Market Value on the date of payment
      equal to the amount of the required withholding taxes. However, any payment
      made
      by the Participant pursuant to either of the foregoing clauses (i) or (ii)
      shall
      not be permitted if it would result in an adverse accounting charge with respect
      to such shares used to pay such taxes unless otherwise approved by the Board.
      

     

    Section
      11.5 Change of Control.
      Notwithstanding any other provision in this Plan to the contrary, in the event
      of a Change of Control Event, the Board shall have the discretion to determine
      whether and to what extent to accelerate the vesting, exercise or payment of
      an
      Award.

     

    Section
      11.6 Amendments to Awards.
      Subject
      to the limitations of Article IV, such as the prohibition on repricing of
      Options, the Board may at any time unilaterally amend the terms of any Award
      Agreement, whether or not presently exercisable or vested, to the extent it
      deems appropriate. However, amendments which are adverse to the Participant
      shall require the Participant’s consent. 

     

    Section
      11.7 Registration; Regulatory Approval.
      Following approval of the Plan by the stockholders of the Company as provided
      in
      Section 1.2 of the Plan, the Board, in its sole discretion, may determine to
      file with the Securities and Exchange Commission and keep continuously
      effective, a Registration Statement on Form S-8 with respect to shares of Common
      Stock subject to Awards hereunder. Notwithstanding anything contained in this
      Plan to the contrary, the Company shall have no obligation to issue shares
      of
      Common Stock under this Plan prior to the obtaining of any approval from, or
      satisfaction of any waiting period or other condition imposed by, any
      governmental agency which the Board shall, in its sole discretion, determine
      to
      be necessary or advisable. 

     

    Section
      11.8 Right to Continued Employment.
      Participation in the Plan shall not give any Eligible Employee any right to
      remain in the employ of the Company, any Subsidiary, or any Affiliated Entity.
      The Company or, in the case of employment with a Subsidiary or an Affiliated
      Entity, the Subsidiary or Affiliated Entity reserves the right to terminate
      any
      Eligible Employee at any time. Further, the adoption of this Plan shall not
      be
      deemed to give any Eligible Employee or any other individual any right to be
      selected as a Participant or to be granted an Award. 

     

    C-9

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Section
      11.9 Reliance on Reports.
      Each
      member of the Board and each member of the Board shall be fully justified in
      relying or acting in good faith upon any report made by the independent public
      accountants of the Company and its Subsidiaries and upon any other information
      furnished in connection with the Plan by any person or persons other than
      himself or herself. In no event shall any person who is or shall have been
      a
      member of the Board be liable for any determination made or other action taken
      or any omission to act in reliance upon any such report or information or for
      any action taken, including the furnishing of information, or failure to act,
      if
      in good faith. 

     

    Section
      11.10 Construction.
      Masculine pronouns and other words of masculine gender shall refer to both
      men
      and women. The titles and headings of the sections in the Plan are for the
      convenience of reference only, and in the event of any conflict, the text of
      the
      Plan, rather than such titles or headings, shall control. 

     

    Section
      11.11 Governing Law.
      The Plan
      shall be governed by and construed in accordance with the laws of the State
      of
      Delaware except as superseded by applicable Federal law. 

     

    Section
      11.12 Other Laws.
      The
      Board may refuse to issue or transfer any shares of Common Stock or other
      consideration under an Award if, acting in its sole discretion, it determines
      that the issuance or transfer of such shares or such other consideration might
      violate any applicable law or regulation or entitle the Company to recover
      the
      same under Section 16(b) of the Exchange Act, and any payment tendered to the
      Company by a Participant, other holder or beneficiary in connection with the
      exercise of such Award shall be promptly refunded to the relevant Participant,
      holder or beneficiary. 

     

    Section
      11.13 No Trust or Fund Created.
      Neither
      the Plan nor an Award shall create or be construed to create a trust or separate
      fund of any kind or a fiduciary relationship between the Company and a
      Participant or any other person. To the extent that a Participant acquires
      the
      right to receive payments from the Company pursuant to an Award, such right
      shall be no greater than the right of any general unsecured creditor of the
      Company. 

     

    Section
      11.14 Conformance to Section 409A of the Code. To
      the
      extent that the Committee determines that any Award granted under the Plan
      is
      subject to Section 409A of the Code, the Award Agreement evidencing such Award
      shall incorporate the terms and conditions required by Section 409A of the
      Code.
      To the extent applicable, the Plan and Award Agreements shall be interpreted
      in
      accordance with Section 409A of the Code and Department of Treasury regulations
      and other interpretive guidance issued thereunder, including without limitation
      any such regulations or other guidance that may be issued after the Effective
      Date. Notwithstanding any provision of the Plan to the contrary, in the event
      that the Committee determines that any Award may be subject to Section 409A
      of
      the Code and related Department of Treasury guidance, the Committee may adopt
      such amendments to the Plan and the applicable Award Agreement or adopt other
      policies and procedures (including amendments, policies and procedures with
      retroactive effect), or take any other actions, that the Committee determines
      are necessary or appropriate to (i) exempt the Award from Section 409A of the
      Code or (ii) comply with the requirements of Section 409A of the Code and
      related Department of Treasury guidance.

     

    C-10EMPLOYMENT
      AGREEMENT

     

    This
      EMPLOYMENT AGREEMENT (this
      “Agreement”)
      is
      made and entered into this August 3, 2007 by and between David P. Wright (the
      “Executive”)
      and
      Healthcare Acquisition Corp., a Delaware corporation (the “Company”).

     

    WITNESSETH:

     

    WHEREAS,
      the
      Executive has been employed by PharmAthene, Inc., a Delaware corporation
      (“PharmAthene”)
      and a
      party to the Agreement and Plan of Merger, dated as of January 19, 2007 (the
      “Merger
      Agreement”),
      with
      the Company and PAI Acquisition Corp. pursuant to which it is contemplated
      that,
      subject to satisfaction or waiver of all conditions set forth in the Merger
      Agreement, PharmAthene will become the sole wholly-owned subsidiary of the
      Company and the Company will change its name to PharmAthene, Inc.;
      and

     

    WHEREAS,
      in
      connection with the merger, the parties desire to transition the Executive
      from
      the position of Chief Executive Officer of PharmAthene, Inc., the pre-merger
      company and merger party, to Chief Executive Officer of the Company;
      and

     

    WHEREAS,
      in
      entering into this Agreement, the Board of Directors of the Company (the
“Board”)
      desires to provide the executive with substantial incentives to serve the
      Company as one of its senior executives performing at the highest level of
      leadership and stewardship to manage the Company’s future growth and development
      and to maximize the returns to the Company’s stockholders;

     

    NOW,
      THEREFORE,
      in
      consideration of the foregoing and of the mutual covenants and obligations
      hereinafter set forth, the parties hereto hereby agree as follows:

     

    
      	
              1.

            	
              Employment;
                Term. The
                Company hereby agrees, provided that the Executive continues to be
                employed by PharmAthene on the date of the consummation of the
                contemplated merger, to employ the Executive and the Executive hereby
                accepts employment by the Company upon the terms and conditions
                hereinafter set forth for the period commencing on the date of
                consummation of the contemplated merger (the “Effective
                Date”)
                and ending on the first anniversary of such date. The term of this
                Agreement shall be automatically extended for an additional year
                on each
                anniversary of the date hereof unless written notice of non-extension
                is
                provided by either party to the other party at least 90 days prior
                to such
                anniversary. The period of the Executive’s employment under this
                Agreement, as it may be terminated or extended from time to time
                as
                provided herein is referred to as the “Employment
                Period.”

            

    

     

    
      	
              2.

            	
              Position
                and Duties.  

            

    

     

    
      	 	
              a.

            	
              Position
                and Duties Generally. The
                Executive shall be employed by the Company in the position of Chief
                Executive Officer and shall faithfully render such executive, managerial,
                administrative and other services as are customarily associated with
                and
                incident to such position and as the Company may from time to time
                reasonably require consistent with such position. The Executive shall
                report to the Board of Directors or the Board’s
                designee.

            

    

     

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

     

    
      	 	
              b.

            	
              Other
                Positions. The
                Executive shall hold such other positions and executive offices with
                the
                Company and/or of any of the Company’s subsidiaries or affiliates as may
                from time to time be authorized by the Board. The Executive shall
                not be
                entitled to any compensation other than the compensation provided
                for
                herein for serving during the Employment Period in any other office
                or
                position of the Company or any of its subsidiaries or affiliates,
                unless
                the Compensation Committee specifically approves such additional
                compensation.

            

    

     

    
      	 	
              c.

            	
              Devotion
                to Employment. Except
                for vacation time taken in accordance with the Company’s vacation policy
                in effect from time to time and in accordance with the terms of this
                Agreement and for absences due to temporary illness, the Executive
                shall
                be a full-time employee of the Company and shall devote full time,
                attention and efforts during the Employment Period to the business
                of the
                Company and the duties required of him in his position. During the
                Employment Period, the Executive shall not be engaged in any other
                business activity which, in the reasonable judgment of the Board
                or its
                designee, conflicts with the duties of the Executive hereunder, whether
                or
                not such activity is pursued for gain, profit or other pecuniary
                advantage.

            

    

     

    
      	 	
              d.

            	
              Director
                Status. The
                Company shall (i) nominate the Executive for re-election to the Board
                throughout the Employment Period on each occasion during the Employment
                Period when his term as a director is scheduled to expire, (ii) in
                all
                proxy and other materials, recommend that the stockholders vote in
                favor
                of the Executive’s election as a director, (iii) not directly or
                indirectly oppose or withdraw support from the Executive, and (iv)
                solicit
                proxies from the stockholders authorizing the named proxy holders
                to vote
                in favor of the Executive’s candidacy. The Executive agrees that in the
                event of the termination of his employment under this Agreement or
                of his
                resignation, he shall tender his resignation from the Board as
                well.

            

    

     

    
      	 	
              e.

            	
              Other
                Directorships. The
                Executive may serve as a non-management director of one or more businesses
                or not-for-profit organizations provided, however, that the Executive
                may
                not serve in such capacity with respect to more than two organizations
                at
                any one time without the prior written approval of the
                Board.

            

    

     

    
      	
              3.

            	
              Compensation;
                Reimbursement. 

            

    

     

    
      	 	
              a.

            	
              Base
                Salary. For
                the Executive’s services, the Company shall pay to the Executive an annual
                base salary of not less than $392,000 per annum, payable in equal
                periodic
                installments according to the Company’s customary payroll practices, but
                no less frequently than monthly. The Executive’s base salary shall be
                subject to review annually by the Compensation Committee and shall
                be
                subject to increase at the option and sole discretion of the Compensation
                Committee.

            

    

     

    
      	 	
              b.

            	
              Bonus.
                The Executive shall be eligible to receive at the sole discretion
                of the
                Compensation Committee, an annual cash bonus of up to an additional
                30% of
                his base salary. In addition, the Executive may be eligible for additional
                bonuses at the option and sole discretion of the Compensation Committee
                based upon based upon the achievement of certain pre-determined
                performance milestones.

            

    

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

     

    
      	 	
              c.

            	
              Benefits
                Generally. 

            

    

     

    
      	 	
              i.

            	
              In
                addition to the salary and cash bonus described above, the Executive
                shall
                be entitled during the Employment Period to participate in such employee
                benefit plans and programs of the Company, and shall be entitled
                to such
                other fringe benefits, as are from time to time made available by
                the
                Company generally to employees of the level, position, tenure, salary,
                age, health and other qualifications of the Executive including,
                without
                limitation, medical, dental and vision insurance coverage for the
                Executive and his dependents, disability, death benefit and life
                insurance
                and pension plans. 

            

    

     

    
      	 	
              ii.

            	
              Without
                limiting the generality of the foregoing, the Executive shall be
                eligible
                for such awards, if any, including stock and stock options under
                the
                Company’s 2007 Long-Term Incentive Plan or such other plan as the Company
                may from time to time put into effect as shall be granted to the
                Executive
                by the Compensation Committee or other appropriate designee of the
                Board
                acting in its sole discretion. 

            

    

     

    
      	 	
              iii.

            	
              The
                Executive acknowledges and agrees that the Company does not guarantee
                the
                adoption or continuance of any particular employee benefit plan and
                participation by the Executive in any such plan or program shall
                be
                subject to the rules and regulations applicable thereto.
                

            

    

     

    
      	 	
              d.

            	
              Stock
                Options.  

            

    

     

    
      	 	
              i.

            	
              Contemporaneously
                with the execution of this Agreement, Executive has been granted
                a stock
                option to purchase 780,000 shares of the Company’s common stock (the
                “Initial
                Stock Option”)
                pursuant to the Company’s 2007 Long-Term Incentive Plan and subject to the
                terms and conditions of such Plan and of a stock option agreement,
                dated
                the date hereof, by the Company and the Executive which shall be
                executed
                contemporaneously with the execution of this Agreement.
                

            

    

     

    
      	 	
              ii.

            	
              The
                Initial Stock Option shall have a term of 10 years and, subject to
                possible acceleration of vesting as otherwise provided herein, the
                Initial
                Stock Option shall vest over a 5 year period with 25% of the shares
                under
                the Initial Stock Option being exercisable on the first anniversary
                of the
                grant date and the remainder of the Initial Stock Option vesting
                monthly
                on a pro-rata basis over the succeeding 48 months following the first
                anniversary such that 100% of the shares under the Initial Stock
                Option
                shall be exercisable after 5 years from the grant date.
                

            

    

     

    
      	 	
              iii.

            	
              The
                per share exercise price of the Initial Stock Option shall be the
                fair
                market value of a share of the common stock of the Company on the
                date of
                grant as determined by the Compensation Committee in accordance with
                Section 409A of the Internal Revenue Code of 1986, as amended (the
                “Code”)
                and the regulations of and the interpretive guidance issued by the
                Department of the Treasury. 

            

    

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

     

    
      	 	
              iv.

            	
              The
                number of shares subject to the Option shall be equitably adjusted
                in the
                event of any change in the number of shares of the Company’s commons stock
                outstanding by reason of any stock dividend or split, reverse stock
                split,
                recapitalization, merger, consolidation, combination or exchange
                of shares
                or similar corporate change occurring after the commencement of the
                Executive’s employment under this
                Agreement.

            

    

     

    
      	 	
              v.

            	
              Additional
                future grants of stock options may be made to the Executive at the
                discretion of the Compensation Committee.

            

    

     

    
      	 	
              e.

            	
              Restricted
                Stock Awards. 

            

    

     

    
      	 	
              i.

            	
              Contemporaneously
                with the execution of this Agreement, the Executive has been granted
                a
                restricted stock award of 100,000 shares of the Company’s common stock
                (the “Initial
                Restricted Stock Award”)
                pursuant to the Company’s 2007 Long-Term Incentive Plan and subject to the
                terms and conditions of such Plan and of a restricted stock agreement,
                dated the date hereof, by the Company and the Executive which shall
                be
                executed contemporaneously with the execution of this Agreement.
                The
                shares issued under the Initial Restricted Stock Award (the “Restricted
                Shares”)
                shall, subject to possible acceleration of vesting as otherwise provided
                herein, vest over a 5 year period with 25% of the Restricted Shares
                subject to the Initial Restricted Stock Award vesting on the first
                anniversary of the grant of the Initial Restricted Stock Award and
                the
                remainder vesting monthly on a pro-rata basis over the succeeding
                48
                months following the first anniversary such that 100% of the Restricted
                Shares shall be vested after 5 years from the grant date. All Restricted
                Shares (including any shares received by the Executive with respect
                to the
                Restricted Shares as a result of stock dividends, stock splits or
                any
                other form of recapitalization) shall be subject to (1) customary
                restrictions on ownership and transfer set forth in the restricted
                stock
                agreement and (2) the vesting requirements set forth in this Section
                3(e);
                provided, however, that such vesting requirements shall be modified
                upon
                the termination of the Executive’s employment, other than in the event of
                Voluntary Termination or Termination for Cause, in accordance with
                Section
                9 of this Agreement.

            

    

     

    
      	 	
              ii.

            	
              Except
                as provided herein and in the restricted stock agreement, the Executive
                shall have all rights of a stockholders with respect to the Restricted
                Shares including the right to receive dividends or other distributions
                and
                the right to vote the Restricted Shares provided that any such dividends
                or other distributions shall be retained by the Company unless and
                until
                the Restricted Shares in respect of which such dividends or other
                distributions were paid shall have
                vested.

            

    

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

     

    
      	 	
              iii.

            	
              During
                the period prior to the time that any particular Restricted Shares
                become
                vested and the restrictions thereon lapse, the Executive may not
                sell,
                transfer, pledge or otherwise encumber or dispose of the Restricted
                Shares
                and any attempted sale, transfer, pledge or other encumbrance or
                disposition (whether voluntary or involuntary) in violation of this
                Section shall be null and void. 

            

    

     

    
      	
            	iv.	
              The
                Compensation Committee shall appoint an executive officer of the
                Company
                or such other escrow holder who shall retain physical custody of
                the each
                certificate representing the Restricted Shares until the Restricted
                Shares
                have vested. Upon vesting of any Restricted Shares, the certificates
                evidencing such Restricted Shares shall be delivered promptly to
                the
                Executive. In the case of the Executive’s death, such certificates shall
                be delivered to the beneficiary designated in writing by the Executive
                pursuant to a form of designation provided by the Company, to the
                Executive’s legatee or to his personal representative as the case may be.
                Unless registered under the Securities Act of 1933, as amended,
                certificates evidencing the Restricted Shares shall bear the following
                legend: 

            

    

     

    THE
      SHARES EVIDENCED BY THIS CERTIFICATE MAY NOT BE SOLD, TRANSFERRED, PLEDGED,
      HYPOTHECATED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES
      ACT
      OF 1933, AS AMENDED, OR UNLESS, IN THE OPINION OF COUNSEL FOR THE COMPANY,
      SUCH
      REGISTRATION IS NOT REQUIRED.

     

    
      	
            	v.	
              The
                Company shall have the right, but not the obligation, to repurchase
                from
                the Executive, immediately upon the termination of the Executive’s
                employment if such termination is a Termination for Cause, such Restricted
                Shares as are vested on the date of termination at a cash price per
                share
                equal to the fair market value of such Restricted Shares on the date
                of
                termination.

            

    

     

    
      	 	
              vi.

            	
              Additional
                future grants of restricted stock awards may be made to the Executive
                at
                the discretion of the Compensation Committee.

            

    

     

    
      	 	
              f.

            	
              Vacation.
                The Executive shall be entitled to 30 days of vacation in each calendar
                year.

            

    

     

    
      	 	
              g.

            	
              Expenses.
                The Company shall reimburse the Executive in accordance with the
                practices
                in effect from time to time for other officers or staff personnel
                of the
                Company for all reasonable and necessary business and travel expenses
                and
                other disbursements incurred by the Executive for or on behalf of
                the
                Company in the performance of the Executive’s duties hereunder, upon
                presentation by the Executive to the Company of appropriate supporting
                documentation.

            

    

     

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

     

    
      	 	
              h.

            	
              Certain
                Legal Expenses. The
                Company shall reimburse the Executive for the reasonable attorneys’ fees
                incurred by him in connection with the negotiation and preparation
                of this
                Agreement up to an aggregate of
                $10,000.

            

    

     

    
      	 	
              i.

            	
              Perquisites.
                The Executive shall be entitled to those perquisites as the Company
                shall
                make available from time to time to other executive officers of the
                Company, which shall include, without limitation, the costs associated
                with the use of an automobile in an amount not to exceed $1,000 per
                month
                and the costs for Executive’s use of a cellular telephone and personal
                digital assistant to the extent such equipment is used for business
                purposes.

            

    

     

    
      	
              4.

            	
              Death; Disability.
                In
                the event that the Executive dies or is incapacitated or disabled
                by
                accident, sickness or otherwise, so as to render the Executive mentally
                or
                physically incapable of performing the services required to be performed
                by the Executive under this Agreement for a period that would entitle
                the
                Executive to qualify for long-term disability benefits under the
                Company’s
                then-current long-term disability insurance program or, in the absence
                of
                such a program, for a period of 120 consecutive days or longer (such
                condition being herein referred to as a “Disability”)
                then (i) in the case of the Executive’s death, the Executive’s employment
                shall be deemed to terminate on the date of the Executive’s death and (ii)
                in the case of a Disability, the Company, at its option, may terminate
                the
                employment of the Executive under this Agreement immediately upon
                giving
                the Executive notice to that effect. The determination to terminate
                the
                Executive in the event of a Disability shall be made by the Board
                or the
                Board’s designee. In the case of a Disability, until the Company shall
                have terminated the Executive’s employment hereunder in accordance with
                the foregoing, the Executive shall be entitled to receive compensation
                provided for herein notwithstanding any such physical or mental
                disability. 

            

    

     

    
      	
              5.

            	
              Termination
                For Cause. The
                Company may terminate the employment of the Executive hereunder at
                any
                time during the Employment Period for “cause” (such termination being
                herein referred to as a “Termination
                for Cause”)
                by giving the Executive notice of such termination, which termination
                shall be effective on the date of such notice or such later date
                as may be
                specified by the Company. For purposes of this Agreement, “Cause”
                means (i) the Executive’s willful and substantial misconduct that is
                materially injurious to the Company and is either repeated after
                written
                notice from the Company specifying the misconduct or is continuing
                and not
                corrected within 20 days after written notice form the Company specifying
                the misconduct, (ii) the Executive’s repeated neglect of duties or failure
                to act which can reasonably be expected to affect materially and
                adversely
                the business or affairs of the Company after written notice from
                the
                Company specifying the neglect or failure to act, (iii) the Executive’s
                material breach of any of the agreements contained in Sections 11,
                12, 13
                or 14 hereof or of any of the Company’s policies, (iv) the commission by
                the Executive of any material fraudulent act with respect to the
                business
                and affairs of the Company, (v) the Executive’s conviction of (or plea of
                nolo contendere to) a crime constituting a felony, (vi) demonstrable
                gross
                negligence, or (vii) habitual insobriety or use of illegal drugs
                by the
                Executive while performing his duties under this Agreement which
                adversely
                affects the Executives performance of his duties under this
                Agreement.

            

    

     

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

     

    
      	
              6.

            	
              Termination
                Without Cause.
                The Company may terminate the employment of the Executive hereunder
                at any
                time without “cause” or fail to extend this Agreement pursuant to the
                terms hereof (such termination being herein referred to as “Termination
                Without Cause”)
                by giving the Executive notice of such termination, upon the giving
                of
                which such termination shall take effect not later than 30 days from
                the
                date such notice is given. 

            

    

     

    
      	
              7.

            	
              Voluntary
                Termination by Executive.
                Any termination of the employment of the Executive by the Executive
                otherwise than as a result of death or Disability or for Good Reason
                (as
                defined below) (such termination being herein referred to as “Voluntary
                Termination”).
                A Voluntary Termination will be deemed to be effective immediately
                upon
                such termination.

            

    

     

    
      	
              8.

            	
              Termination
                by Executive for Good Reason. Any
                termination of the employment of the Executive by the Executive for
                Good
                Reason which shall be deemed to be equivalent to a Termination without
                Cause. For purposes of this Agreement “Good
                Reason”
                means (i) any material breach by the Company of any of its obligations
                under this Agreement, (ii) any material reduction in the Executive’s
                duties, authority or responsibilities without his consent, (iii)
                any
                assignment to the Executive of duties or responsibilities materially
                inconsistent with his position and duties contained in this Agreement
                without his consent, (iv) a relocation of the Company’s principal
                executive offices or the Company determination to require the Executive
                to
                be based anywhere other than within 25 miles of the location at which
                the
                Executive on the date hereof performs his duties; (v) the taking
                of any
                action by the Company which would deprive the Executive of any material
                benefit plan (including, without limitation, any medical, dental,
                disability or life insurance); or (vi) the failure by the Company
                to
                obtain the specific assumption of this Agreement by any successor
                or
                assignee of the Company or any person acquiring substantially all
                of the
                Company’s assets; provided, however, that the Executive may not terminate
                the Employment Period for Good Reason unless he first provides the
                Company
                with written notice specifying the Good Reason and providing the
                Company
                with 20 days in which to remedy the stated
                reason.

            

    

     

    
      	
              9.

            	
              Effect
                of Termination of Employment.

            

    

     

    
      	 	
              a.

            	
              Voluntary
                Termination; Termination For Cause.
                Upon the termination of the Executive’s employment as a result of his
                Voluntary Termination or a Termination For Cause, the Executive shall
                not
                have any further rights or claims against the Company under this
                Agreement
                except the right to receive (i) the unpaid portion of the base salary
                provided for in Section 3(a) hereof, computed on a pro rata basis
                to the
                date of termination, (ii) payment of his accrued but unpaid amounts
                and
                extension of applicable benefits in accordance with the terms of
                any
                incentive compensation, retirement, employee welfare or other employee
                benefit plans or programs of the Company in which the Executive is
                then
                participating in accordance with the terms of such plans or programs,
                and
                (iii) reimbursement for any expenses for which the Executive shall
                not
                have theretofore been reimbursed as provided in Section 3 hereof.
                In such
                event, the Initial Stock Option and shares of the Initial Restricted
                Stock
                Award to the extent not vested as of the date of termination shall
                be
                forfeited to the Company (without any further action on the part
                of the
                Company or the Executive) and the Executive shall have no further
                rights
                in such regard.

            

    

     

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

     

    
      	 	
              b.

            	
              Termination
                Without Cause; Termination for Good Reason.
                Upon the termination of the Executive’s employment as a result of a
                Termination Without Cause or for Good Reason, the Executive shall
                not have
                any further rights or claims against the Company under this Agreement
                except the right to receive (i) the payments and other rights provided
                for
                in Section 9(a) hereof and (ii) severance payments in the form of
                a
                continuation of the Executive’s base salary as in effect immediately prior
                to such termination for a period of 12 months following the effective
                date
                of such termination. In such event, an amount of shares equal to
                up to 25%
                of the total aggregate amount of the Initial Stock Option and the
                Restricted Stock Award granted to the Executive shall become vested.
                The
                balance of such unvested Initial Stock Option and shares of the Initial
                Restricted Stock Award shall be forfeited to the Company (without
                further
                action on the part of the Company or the Executive) as of the date
                of
                termination and the Executive shall have no further rights with respect
                to
                such balance. To the extent that severance payments shall be payable
                under
                this Agreement such payments shall be in consideration for and only
                after
                the Executive executes a General Release containing terms reasonably
                satisfactory to the Company. 

            

    

     

    
      	 	
              c.

            	
              Death
                and Disability.
                Upon the termination of the Executive’s employment as a result of death or
                Disability, neither the Executive nor the Executive’s beneficiaries or
                estate shall have any further rights or claims against the Company
                under
                this Agreement except the right to receive the payments and other
                rights
                provided for in Section 9(a) hereof. In such event, an amount of
                shares
                equal to up to 25% of the total aggregate amount of the Initial Stock
                Option and the Restricted Stock Award granted to the Executive shall
                become vested. The balance of such unvested Initial Stock Option
                and
                shares of Initial Restricted Stock Award shall be forfeited to the
                Company
                (without further action on the part of the Company or the Executive)
                as of
                the date of termination and the Executive shall have no further rights
                with respect to such balance.

            

    

     

    
      	 	
              d.

            	
              Forfeiture
                of Rights.
                In
                the event that, subsequent to termination of employment hereunder,
                the
                Executive (i) breaches any of the provisions of Sections 11, 12,
                13 or 14
                hereof or (ii) makes or facilitates the making of any adverse public
                statements or disclosures with respect to the business or securities
                of
                the Company, all payments and benefits to which the Executive may
                otherwise have been entitled shall immediately terminate and be forfeited,
                and any portion of such amounts as may have been paid to the Executive
                shall forthwith be returned to the Company.

            

    

     

    
      	
              10.

            	
              Change
                in Control Provisions. 

            

    

     

    
      	 	
              a.

            	
              Effect
                of Termination Following Change in Control.
                In
                the event of a Change in Control during the Employment Period and
                a
                subsequent termination of the Executive’s employment, either by the
                Company as a consequence of the Change in Control or any other Termination
                Without Cause or by the Executive for Good Reason, then (i) Executive
                shall be entitled to receive (A) the payments and other rights provided
                in
                Section 9(b) of this Agreement and (B) the benefits and other rights
                provided in Section 10(a) of this Agreement; and (ii) the Initial
                Stock
                Option and shares of the Initial Restricted Stock Award held by the
                Executive and not then vested shall become immediately and fully
                vested as
                of the effective date of the
                termination.

            

    

    
       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

       

    

    
      	 	
              b.

            	
              Definition
                of Change in Control.
                For purposes of this Agreement, a “Change
                in Control”
                means and shall be deemed to have occurred upon: (i) an acquisition
                subsequent to the date hereof by any person, entity or group (within
                the
                meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange
                Act of
                1934, as amended (the “Exchange
                Act”))
                (a “Person”),
                of beneficial ownership (within the meaning of Rule 13d-3 promulgated
                under the Exchange Act) of 30% or more of either (A) the then outstanding
                shares of common stock of the Company (“Common
                Stock”)
                or (B) the combined voting power of the then outstanding voting securities
                of the Company entitled to vote generally in the election of directors
                (the “Outstanding
                Company Voting Securities”);
                excluding, however, the following: (1) any acquisition directly from
                the
                Company, other than an acquisition by virtue of the exercise of a
                conversion privilege unless the security being so converted was itself
                acquired directly from the Company, (2) any acquisition by the Company
                and
                (3) any acquisition by an employee benefit plan (or related trust)
                sponsored or maintained by the Company; (ii) the approval by the
                stockholders of the Company of a merger, consolidation, reorganization
                or
                similar corporate transaction, whether or not the Company is the
                surviving
                corporation in such transaction, in which outstanding shares of Common
                Stock are converted into (A) shares of stock of another company,
                other
                than a conversion into shares of voting common stock of the successor
                corporation (or a holding company thereof) representing 80% of the
                voting
                power of all capital stock thereof outstanding immediately after
                the
                merger or consolidation or (B) other securities (of either the Company
                or
                another company) or cash or other property; (iii) the approval by
                stockholders of the Company of the issuance of shares of Common Stock
                in
                connection with a merger, consolidation, reorganization or similar
                corporate transaction in an amount in excess of 40% of the number
                of
                shares of Common Stock outstanding immediately prior to the consummation
                of such transaction; (iv) the approval by the stockholders of the
                Company
                of (A) the sale or other disposition of all or substantially all
                of the
                assets of the Company or (B) a complete liquidation or dissolution
                of the
                Company; or (v) the adoption by the Board of a resolution to the
                effect
                that any person has acquired effective control of the business and
                affairs
                of the Company. 

            

    

     

    
      	
              11.

            	
              Disclosure
                of Confidential Information. The
                Executive shall not, directly or indirectly, at any time during or
                after
                the Employment Period, disclose to any person, firm, corporation
                or other
                business entity, except as required by law, or use for any purpose
                except
                in the good faith performance of the Executive’s duties to the Company,
                any Confidential Information (as herein defined). For purposes of
                this
                Agreement, “Confidential
                Information”
                means all trade secrets and other non-public information of a business,
                financial , marketing, technical or other nature pertaining to the
                Company
                or any subsidiary, including information of others that the Company
                or any
                subsidiary has agreed to keep confidential; provided, however, that
                Confidential Information shall not include any information that has
                entered or enters the public domain (other than through breach of
                the
                Executive’s obligations under this Agreement) or which the Executive is
                required to disclose by law or legal process. Upon the Company’s request
                at any time, the Executive shall immediately deliver to the Company
                all
                materials in the Executive’s possession which contain Confidential
                Information.

            

    

     

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

     

    
      	
              12.

            	
              Restrictive
                Covenant. 

            

    

     

    
      	 	
              a.

            	
              Term
                of Restrictive Covenant. The
                Executive hereby acknowledges and recognizes that, during the Employment
                Period, the Executive shall be privy to trade secrets and Confidential
                Information critical to the Company’s business and the Executive further
                acknowledges and recognizes that the Company would find it extremely
                difficult or impossible to replace the Executive and, accordingly,
                the
                Executive agrees that, in consideration of the benefits to be received
                by
                the Executive hereunder, the Executive shall not, from and after
                the date
                hereof, throughout the Employment Period, and for a period of 12
                months
                following the termination of the Employment Period (i) directly or
                indirectly engage in the development, production, marketing or sale
                of
                    products that compete (or, upon commercialization, would compete)
                with
                products of the Company being developed (so long as such development
                has
                not been abandoned), marketed or sold at the time of the termination
                of
                the Employment Period (such business or activity being herein referred
                to
                as a “Competing
                Business”)
                whether such engagement shall be as an officer, director, owner,
                employee,
                partner, affiliate or other participant in any Competing Business,
                (ii)
                assist others in engaging in any Competing Business in the manner
                described in the foregoing clause (i), or (iii) induce other employees
                of
                the Company or any subsidiary thereof to terminate their employment
                with
                the Company or any subsidiary thereof or engage in any Competing
                Business
                or hire any employees of the Company or any subsidiary unless such
                persons
                have not been employees of the Company for at least 12 months.
                

            

    

     

    
      	 	
              b.

            	
              Sufficient
                Consideration. The
                Executive understands that the foregoing restrictions may limit the
                ability of the Executive to earn a livelihood in a business similar
                to the
                business of the Company, but nevertheless believes that the Executive
                has
                received and shall receive sufficient consideration and other benefits,
                as
                an employee of the Company and as otherwise provided hereunder, to
                justify
                such restrictions which, in any event (given the education, skills
                and
                ability of the Executive), the Executive believes would not prevent
                the
                Executive from earning a living. 

            

    

     

    
      	
              13.

            	
              Non-Disparagement.
                The
                Executive shall not engage in conduct, through word, act, gesture
                or other
                means, or disclose any information to the public or any third party
                which
                (i) directly or indirectly discredits or disparages in whole or in
                part
                the company, its subsidiaries, divisions, affiliates and/or successors
                as
                well as the products and the respective officers, directors, stockholders
                and employees of each of them; (ii) is detrimental to the reputation,
                character or standing of these entities, their products or any of
                their
                respective officers, directors, stockholders and/or employees; or
                (iii)
                which generally reflects negatively on the management decisions,
                strategy
                or decision-making of these
                entities.

            

    

     

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

     

    
      	
              14.

            	
              Company
                Right to Inventions. The
                Executive shall promptly disclose, grant and assign to the Company,
                for
                its sole use and benefit, any and all inventions, improvements, technical
                information and suggestions relating in any way to the business of
                the
                Company which the Executive may develop or acquire during the Employment
                Period (whether or not during usual working hours), together with
                all
                patent applications, letters patent, copyrights and reissues thereof
                that
                may at any time be granted for or upon any such invention, improvement
                or
                technical information. In connection therewith: (i) the Executive
                shall,
                without charge, but at the expense of the Company, promptly at all
                times
                hereafter execute and deliver such applications, assignments, descriptions
                and other instruments as may be necessary or proper in the opinion
                of the
                Company to vest title to any such inventions, improvements, technical
                information, patent applications, patents, copyrights or reissues
                thereof
                in the Company and to enable it to obtain and maintain the entire
                right
                and title thereto throughout the world, and (ii) the Executive shall
                render to the Company, at its expense (including a reasonable payment
                for
                the time involved in case the Executive is not then in its employ),
                all
                such assistance as it may require in the prosecution of applications
                for
                said patents, copyrights or reissues thereof, in the prosecution
                or
                defense of interferences which may be declared involving any said
                applications, patents or copyrights and in any litigation in which
                the
                Company may be involved relating to any such patents, inventions,
                improvements or technical information.

            

    

     

    
      	
              15.

            	
              Enforcement.
                It
                is the desire and intent of the parties hereto that the provisions
                of this
                Agreement be enforceable to the fullest extent permissible under
                the laws
                and public policies applied in each jurisdiction in which enforcement
                is
                sought. Accordingly, to the extent that a restriction contained in
                this
                Agreement is more restrictive than permitted by the laws of any
                jurisdiction where this Agreement may be subject to review and
                interpretation, the terms of such restriction, for the purpose only
                of the
                operation of such restriction in such jurisdiction, shall be the
                maximum
                restriction allowed by the laws of such jurisdiction and such restriction
                shall be deemed to have been revised accordingly herein.
                

            

    

     

    
      	
              16.

            	
              Remedies;
                Survival. 

            

    

     

    
      	 	
              a.

            	
              Injunctive
                Relief. The
                Executive acknowledges and understands that the provisions of the
                covenants contained in Sections 11, 12, 13 and 14 hereof, the violation
                of
                which cannot be accurately compensated for in damages by an action
                at law,
                are of crucial importance to the Company, and that the breach or
                threatened breach of the provisions of this Agreement would cause
                the
                Company irreparable harm. In the event of a breach or threatened
                breach by
                the Executive of the provisions of Sections 11, 12, 13 or 14 hereof,
                the
                Company shall be entitled to an injunction restraining the Executive
                from
                such breach. Nothing herein contained shall be construed as prohibiting
                the Company from pursuing any other remedies available for any breach
                or
                threatened breach of this Agreement.

            

    

     

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

     

    
      	 	
              b.

            	
              Survival.
                Notwithstanding
                anything contained in this Agreement to the contrary, the provisions
                of
                the Sections 3, 9, and 11 through 17 hereof shall survive the expiration
                or earlier termination of this Agreement until, by their terms, such
                provisions are no longer operative.

            

    

     

    
      	
              17.

            	
              Notices.
                Notices and other communications hereunder shall be in writing and
                shall
                be delivered personally or sent by air courier or first class certified
                or
                registered mail, return receipt requested and postage prepaid, addressed
                as follows: 

            

    

     

    if
      to the
      Company prior to the Effective Date to: 

     

    Healthcare
      Acquisition Corp.

    2116
      Financial Center

    666
      Walnut Street

    Des
      Moines, Iowa 50309

    

    with
      a
      copy to:

    Ellenoff,
      Grossman & Schole, LLP

    370
      Lexington Avenue, 19th
      Floor

    New
      York,
      New York 10017

    Attention:
      Brian Daughney, Esq.

     

    if
      to the
      Company after the Effective Date to:

     

    PharmAthene,
      Inc.

    175
      Admiral Cochran Drive, Suite 101

    Annapolis,
      MD 21401

    

    with
      a
      copy to:

     

    McCarter
      & English, LLP

    Four
      Gateway Center

    100
      Mulberry Street

    Newark,
      New Jersey 07102

    Attention:
      Jeffrey Baumel, Esq.

     

    if
      to the
      Executive to:

     

    David
      P.
      Wright

     

    with
      a
      copy to :

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    All
      notices and other communications given to any party hereto in accordance with
      the provisions of this Agreement shall be deemed to have been given on the
      date
      of delivery, if personally delivered; on the business day after the date when
      sent, if sent by air courier; and on the third business day after the date
      when
      sent, if sent by mail, in each case addressed to such party as provided in
      this
      Section 16 or in accordance with the latest unrevoked direction from such party.
      

     

    
      	18.	
              Binding
                Agreement; Benefit.
                The provisions of this Agreement shall be binding upon, and shall
                inure to
                the benefit of, the respective heirs, legal representatives and successors
                of the parties hereto. 

            

    

     

    
      	19.	
              Governing
                Law; Jurisdiction. This
                Agreement shall be governed by, and construed and enforced in accordance
                with, the laws of the State of Maryland applicable
                to contract made and to be performed therein. Any action to enforce
                any of
                the provisions of this Agreement shall be brought in a court of the
                State
                of Maryland
                or in Federal court located within that State. The parties consent
                to the
                jurisdiction of such courts and to the service of process in any
                manner
                provided by Maryland law. Each party irrevocably waives any objection
                which it may now or hereafter have to the laying of the venue of
                any such
                suit, action or proceeding brought in such court and any claim that
                such
                suit, action or proceeding brought in such court has been brought
                in an
                inconvenient forum and agrees that service of process in accordance
                with
                the foregoing shall be deemed in every respect effective and valid
                personal service of process upon such party.

            

    

     

    
      	20.	
              Waiver
                of Breach.
                The waiver by either party of a breach of any provision of this Agreement

                by the other party must be in writing and shall not operate or be
                construed as a waiver of any subsequent breach by such other party.
                

            

    

     

    
      	21.	
              Entire
                Agreement; Amendments.
                This Agreement contains the entire agreement between the parties
                with
                respect to the subject matter hereof and supersedes all prior agreements
                or understandings among the parties with respect thereof. This Agreement
                may be amended only by an agreement in writing signed by the parties
                hereto. 

            

    

     

    
      	22.	
              Headings.
                The section headings contained in this Agreement are for reference
                purposes only and shall not affect in any way the meaning or
                interpretation of this Agreement. 

            

    

     

    
      	23.	
              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, and any such prohibition or unenforceability in
                any
                jurisdiction shall not invalidate or render unenforceable such provision
                in any other jurisdiction. 

            

    

     

    
      	24.	
              409A
                Compliance.
                The intent of the Executive and the company is that the severance
                and
                other benefits payable to the Executive under this Agreement not
                be deemed
                “deferred compensation” under, and shall otherwise comply with, Section
                409A of the Internal Revenue Code of 1986, as amended. The Executive
                and
                the Company agree to use reasonable best efforts to amend the terms
                of
                this Agreement from time to time as may be necessary to avoid the
                imposition of liability under Section 409A of the Code in any manner
                that
                does not materially alter the substantive rights and obligations
                of the
                parties hereunder.

            

    

     

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

     

    
      	25.	
              Executive’s
                Acknowledgement. The
                Executive acknowledges (a) that he has had the opportunity to consult
                with
                independent counsel of his own choice concerning this Agreement and
                (b)
                that he has read and understands the Agreement, is fully aware of
                its
                legal effect and has entered into it freely based on his own
                judgment.

            

    

     

    
      	26.	
              Assignment.
                This
                Agreement is personal in its nature and the parties hereto shall
                not,
                without the consent of the other, assign or transfer this Agreement
                or any
                rights or obligations hereunder; provided, that the provisions hereof
                shall inure to the benefit of, and be binding upon, each successor
                of the
                Company, whether by merger, consolidation, transfer of all or
                substantially all of its assets or otherwise.

            

    

     

    
      	27.	
              Counterparts.
                This
                Agreement may be executed in two or more counterparts, each of which
                shall
                for all purposes constitute one agreement which is binding on all
                of the
                parties hereto.

            

    

     

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the
      parties have duly executed this Agreement as of the date first above written.
      

     

     

    
      	 	 	EXECUTIVE
	 
 	 
 	 
 
	
            	
            	/s/ David P. Wright
	 	
              
David
              P. Wright
	 	HEALTHCARE ACQUISITION
              CORP.

    

     

    
      	 	 	 
	
            	By  
              	/s/ John Pappjohn
	 	
              
Name:
              John Pappajohn 
	 	
              Title:
                Chairman

            

    

     

     

    
      
        
        

      

      
        15

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00127-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00127-of-00352.parquet"}]]