Document:

Exhibit 4B

 

	
   

  	
  COMMON STOCK

  	
  COMMON STOCK

  
	
   

  	
   

  	
   

  
	
   

  	
  PAR VALUE $1.00

  	
  THIS
  CERTIFICATE IS TRANSFERABLE IN 

  NEW YORK, NY OR CHICAGO, IL     

   

  

 

	
  Certificate

  Number

  	
   

  	
  

  	
   

  	
  Shares

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ECOLAB INC.
INCORPORATED
  UNDER THE LAWS OF THE STATE OF DELAWARE

  	
   

  	
   

  

 

	
   

  	
  THIS CERTIFIES THAT

  	
  CUSIP 278865 10 0

  
	
   

  	
   

  	
   

  
	
   

  	
  is the owner of

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  FULLY-PAID
  AND NON-ASSESSABLE SHARES OF THE COMMON STOCK OF

  
	
   

  	
   

  	
   

  
	
   

  	
  Ecolab
  Inc. transferable on the books of the Corporation by the holder hereof in
  person or by duly authorized attorney upon surrender of this certificate
  properly endorsed. This certificate is not valid unless countersigned by the
  Transfer Agent and registered by the Registrar.

  
	
   

  	
   

  
	
   

  	
  Witness
  the facsimile seal of the Corporation and the facsimile signatures of its
  duly authorized officers.

  
	
   

  	
   

  
	
   

  	
   

  	
  

  	
   

  
	
   

  	
   

  	
  DATED

  	
   

  
	
   

  	
  /s/ A. L. Schuman

  	
  COUNTERSIGNED AND REGISTERED:

  
	
   

  	
  Chairman

  	
  COMPUTERSHARE INVESTOR SERVICES, LLC.

  
	
   

  	
   

  	
  (CHICAGO)

  
	
   

  	
   

  	
  TRANSFER AGENT AND REGISTRAR,

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ L. T. Bell

  	
   

  
	
   

  	
  Secretary

  	
  By:

  	
   

  
	
   

  	
   

  	
  AUTHORIZED SIGNATURE

  
							

 

	
  SECURITY INSTRUCTIONS ON REVERSE

  

 

ECOLAB INC.

 

The Corporation will furnish, without charge, to
each stockholder who so requests, a printed statement of the powers,
designations, preferences and relative, participating, optional or other
special rights of each class of stock or series thereof which the corporation
is authorized to issue and the qualifications, limitations or restrictions of
such preferences and/or rights. requests may be directed to the secretary of
ecolab inc. at its principal office, or the transfer agent named on the face of
this certificate.

 

This certificate also evidences and entitles
the holder hereof to certain Rights as set forth in the Rights Agreement
between Ecolab Inc. (the “Company”) and First Chicago Trust Company of New York
(the “Rights Agent”) dated as of February 24, 1996, as the same may be
amended from time to time (the “Rights Agreement”), the terms of which ARE
hereby incorporated herein by reference and a copy of which is on file aT the
principal offices of the Company. Under certain circumstances, as set forth in
the Rights Agreement, such Rights will be evidenced by separate certificates
and will no longer be evidenced by this certificate. The Company will mail to
the holder of this certificate a copy of the Rights Agreement, as in effect on
the date of mailing, without charge promptly after receipt of a written
request therefor. Under certain circumstances set forth in the Rights
Agreement, Rights issued to, or held by, any Person who is, was or becomes an
Acquiring Person or an Adverse Person or any Affiliate or Associate thereof (as
such terms are defined in the Rights Agreement), whether currently held by or
on behalf of such Person or by any subsequent holder, may become null and void.

 

The following abbreviations, when used in the
inscription on the face of this certificate, shall be construed as though they
were written out in full according to applicable laws or regulations:

 

	
  TEN COM -as tenants in common

  	
   

  	
  UNIF GIFT MIN ACT-
                   Custodian              

  
	
   

  	
   

  	
   

  	
  (Cust)

  	
  (Minor)

  
	
  TEN ENT -as tenants by the entireties

  	
   

  	
   

  	
  under Uniform Gifts to Minors Act

  
	
   

  	
   

  	
   

  	
   

  
	
  JT TEN - as joint tenants with right of
  survivorship

  	
   

  	
  UNIF TRF MIN ACT -
                   Custodian
  (until age        )

  
	
  and not as tenants in common

  	
   

  	
   

  	
  (Cust)

  	
  (Minor)

  
	
   

  	
   

  	
   

  	
  under
  Uniform Transfers to Minors Act

  
	
   

  	
   

  	
   

  	
  (State)

  
	
  Additional abbreviations may also be used though
  not in the above list.

  	
   

  
							

 

 

For value received,                                    hereby
sell, assign and transfer unto

 

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING
NUMBER OF ASSIGNEE                                                 

 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS,
INCLUDING POSTAL ZIP CODE, OF ASSIGNEE)

 

 

 

 

                                                                                                                                                                                                        Shares

of the capital stock represented by the within Certificate, and do hereby
irrevocably constitute and appoint

 

                                                                                                                                                                                                     Attorney

to transfer the said stock on the books of the within-named Corporation with
full power of substitution in the premises.

 

	
  Dated:

  	
   

  	
  20

  	
   

  	
   

  	
  Signature:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Signature:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  NOTICE:

  	
  THE SIGNATURE TO THIS ASSIGNMENT

  MUST CORRESPOND WITH THE NAME

  AS WRITTEN UPON THE FACE OF THE

  CERTIFICATE, IN EVERY PARTICULAR,

  WITHOUT ALTERATION OR

  ENLARGEMENT, OR ANY CHANGE

  WHATEVER.

  
									

 

	
  Signature(s) Guaranteed:

  
	
   

  
	
  BY:

  	
   

  	
   

  

 

THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE

GUARANTOR INSTITUTION (Banks, Stockbrokers, Savings and Loan

Associations and Credit Unions) WITH MEMBERSHIP IN AN APPROVED

SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO

S.E.C. RULE 17Ad-15.

 

SECURITY INSTRUCTIONS

 

THIS IS WATERMARKED PAPER, DO NOT ACCEPT WITHOUT NOTING WATERMARK. HOLD TO LIGHT TO VERIFY WATERMARK.EXHIBIT 10.1

 

CHANGE OF CONTROL AGREEMENT

 

This
Change of Control Agreement is made December 2, 2004, between Digital Angel
Company, a Company organized and existing under the laws of Delaware, with its
principal office located at 490 Villuame Avenue, St. Paul, Ramsey County,
Minnesota (the “Company”), and Kevin N. McGrath, the Company’s Chief Executive
Officer and President (“Executive”).

 

RECITALS

 

A.                                   The Agreement is being put into place in
consideration for the continued efforts after the date hereof of Executive and
in lieu of executing a long term written employment agreement.

 

In
consideration of the above and other good and valuable consideration, and of
the mutual benefits and obligations set forth in this agreement, the parties
agree as follows:

 

SECTION ONE

 

TERM OF AGREEMENT

 

This
Agreement shall commence on the date hereof and shall continue in effect so
long as Executive remains employed by the Company.

 

SECTION TWO

 

CHANGE IN CONTROL PAYMENT

 

A.                                   Upon a Change in Control, Executive shall be
entitled to receive the Change in Control Compensation, as hereafter defined.

 

B.                                     For all purposes of this Agreement, a Change
in Control shall be deemed to occur if: (i) any person or entity (or
persons or entities acting as a group) other than Applied Digital Solutions,
Inc. (“Applied Digital”) acquires stock of the Company that, together with
stock then held by such person, entity or group, results in such person, entity
or group holding more than fifty (50%) percent of the fair market value or
total voting power of the Company; or, (ii) a member of the Board of Directors
of the Company is replaced by a director (or added to the Company’s Board of
Directors) and such director was not nominated and approved by the Board of
Directors; or, (iii) a change of control occurs at Applied Digital Solutions,
Inc. as such term is defined in the employment agreement between the Company’s
current Chairman of the Board, Scott R. Silverman, and Applied Digital
Solutions, Inc.

 

C.                                     For all purposes of this Agreement, the Term Change
in Control Compensation shall mean the sum of: (i) any and all earned but
unpaid base salary and earned but unpaid bonus compensation as of the date of
the Change in Control; (ii) three (3) times the base salary; and

 

1

 

(iii) three (3) times
the average bonus paid by the Company to Executive for the three (3) full
calendar years immediately prior to the Change in Control or the number of
calendar years that were completed prior to the Change in Control if less than
three (3) calendar years.  The Change in
Control Compensation shall be paid to Executive within ten (10) days of the
Change in Control.  In addition, any
outstanding stock options held by Executive as of the Change in Control shall
become vested and exercisable as of such date, and shall remain exercisable as
of the life of the option (or, in the case of an acquisition of all of the
common stock of the Company, such options shall vest prior to such closing so
that the shares issuable upon such exercise may be sold in the Change of
Control transaction).  Further, the
Company shall continue to pay any lease payments on any vehicle then used by
Executive, which vehicle is being leased by the Company for use by Executive.

 

The
Company shall also pay to you all legal fees and expenses incurred by Executive
in any proceeding to obtain or enforce any right or benefit provided by this
Agreement or in connection with any tax audit or proceeding to the extent
attributable to the application of Section 4999 of the Internal Revenue
Code of 1986, as amended (the “Code”) to any payment or benefit provided
under this Agreement.

 

D.                                    If you are a “disqualified individual” within
the meaning of Section 280G of the Code, the parties agree that the
payments described in this Section and all other payments to you under any
other agreements or arrangements with any persons that constitute “parachute
payments” within the meaning of Section 28OG of the Code are collectively
subject to an overall maximum limit. The maximum limit shall be one dollar less
than the aggregate amount that would otherwise cause any such payments to be
considered a “parachute payment” within the meaning of Section 280G of the
Code, as determined by the Company. Accordingly, to the extent that the
payments would be considered a “parachute payment” with respect to you, then
the portions of such payments shall be reduced or eliminated in the following
order until the remaining change of control termination payments with respect
to you is within the maximum described in this paragraph D:

 

1.                                       First, any cash payment to you;

 

2.                                       Second, any change of control termination
payments not described in this agreement; and

 

3.                                       Third, any forgiveness of indebtedness of
yours to the Company.

 

You
irrevocably waive any and all rights to receive any change of control
termination payments that exceed the maximum limit described in this paragraph
D.

 

SECTION THREE

 

SUCCESSORS; BINDING AGREEMENT

 

This
Agreement shall inure to the benefit of and be enforceable by your personal or
legal representatives, executors, administrators, heirs, distributees, and
legatees. If you should die

 

2

 

while any amount would still
be payable to you if you had continued to live, all such amounts shall be paid
in accordance with the terms of this Agreement to your legatee or other
designee or, if there is no such designee, to your estate.

 

SECTION FOUR

 

MISCELLANEOUS

 

No
provision of this Agreement may be modified, waived, or discharged unless the
waiver, modification, or discharge is agreed to in writing and signed by you
and such officer as may be specifically designated by the Board. No waiver by
either party to this Agreement at any time of any breach by the other party of,
or compliance with, any condition or provision of this Agreement to be
performed by such other party shall be deemed a waiver of similar or dissimilar
provisions or conditions at the same or at any prior or subsequent time. No
agreements or representations, oral or otherwise, express or implied, with
respect to the subject matter of this Agreement have been made by either party
that are not expressly set forth in this Agreement. The validity,
interpretation, construction, and performance of this Agreement shall be
governed by the laws of Minnesota.  Any
payments provided for shall be paid net of any applicable withholding or
deduction required under federal, state, or local law.

 

SECTION FIVE

 

VALIDITY

 

The
invalidity or enforceability of any provision of this Agreement shall not
affect the validity or unenforceability of any other provision of this
Agreement, which shall remain in full force and effect.

 

SECTION SIX

 

COUNTERPARTS

 

This
Agreement may be executed in several counterparts, each of which shall be
deemed to be an original but all of which together will constitute one and the
same instrument.

 

SECTION SEVEN

 

ARBITRATION

 

Any
dispute or controversy arising under or in connection with this Agreement shall
be settled exclusively by arbitration in Minnesota in accordance with the rules
of the American Arbitration Association then in effect. Judgment may be entered
on the arbitrator’s award in any court having jurisdiction.

 

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SECTION EIGHT

 

ENTIRE AGREEMENT

 

This
Agreement sets forth the entire understanding of the parties with respect to
its subject matter and supersedes all prior written or oral agreements or
understandings with respect to the subject matter.

 

The
parties have executed this Agreement on the day and year first above written.

 

	
  DIGITAL
  ANGEL CORPORATION

  
	
   

  
	
   

  
	
  /s/ James P.
  Santelli

  	
   

  
	
  By:

  	
  James P. Santelli

  	
   

  
	
  Its:

  	
  Vice President

  	
   

  
	
   

  
	
   

  
	
  /s/ Kevin N. McGrath

  	
   

  
	
  Kevin N. McGrath

  
	
  (address)

  	
   

  
	
   

  	
   

  

 

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