Document:

Rexnord Supplemental Executive Retirement Plan

 Exhibit 10.24 
 REXNORD SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
 As Amended Effective January 1, 2008 

 To Comply With Internal Revenue Code Section 409A 
  

 1 

 REXNORD SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
 TABLE OF CONTENTS 
  

					
	ARTICLE I - NAME, PURPOSE AND EFFECTIVE DATE	  	3
	 1.01        
	  	 NAME AND PURPOSE
	  	3
	 1.02
	  	 EFFECTIVE DATE
	  	3
		
	ARTICLE II - DEFINITIONS	  	4
	 2.01
	  	 “ADMINISTRATOR”
	  	4
	 2.02
	  	 “CODE”
	  	4
	 2.03
	  	 “EMPLOYER”
	  	4
	 2.04
	  	 “PARTICIPANT”
	  	4
	 2.05
	  	 “PLAN”
	  	4
	 2.06
	  	 “SEPARATION FROM SERVICE”
	  	4
	 2.07
	  	 “SERP ACCOUNT”
	  	4
		
	ARTICLE III - SERP ACCOUNT	  	5
	 3.01
	  	 ESTABLISHMENT OF SERP ACCOUNT
	  	5
	 3.02
	  	 ANNUAL CONTRIBUTION
	  	5
	 3.03
	  	 PRO-RATA CREDIT IN YEAR OF
TERMINATION
	  	5
	 3.04
	  	 ANNUAL INTEREST CREDIT
	  	5
		
	ARTICLE IV - PAYMENT OF SERP ACCOUNT	  	6
	 4.01
	  	 TIME AND FORM OF PAYMENT
	  	6
	 4.02
	  	 PAYMENT IN THE EVENT OF DEATH
	  	6
		
	ARTICLE V - FUNDING	  	7
	 5.01
	  	 FUNDING
	  	7
		
	ARTICLE VI - ADMINISTRATION	  	8
	 6.01
	  	 DUTIES OF ADMINISTRATOR
	  	8
	 6.02
	  	 FINALITY OF DECISIONS
	  	8
		
	ARTICLE VII - MISCELLANEOUS	  	9
	 7.01
	  	 NON-GUARANTEE OF EMPLOYMENT
	  	9
	 7.02
	  	 AMENDMENTS/TERMINATION
	  	9
	 7.03
	  	 NONASSIGNABILITY
	  	9
	 7.04
	  	 ENTIRE AGREEMENT; SUCCESSORS
	  	9
	 7.05
	  	 SUCCESSOR EMPLOYER
	  	9
	 7.06
	  	 GOVERNING LAW
	  	9
	 7.07
	  	 CLAIMS PROCEDURE
	  	9
	 7.08
	  	 ADDITIONAL SECTION 409A PROVISIONS
	  	9

  

 2 

 ARTICLE I - NAME, PURPOSE AND EFFECTIVE DATE 
  

	1.01	Name and Purpose 

 The supplemental retirement plan
set forth herein shall be known as the Rexnord Supplemental Executive Retirement Plan (the “Plan”). The Plan is established, and shall be maintained, solely for the purpose of providing supplemental retirement plan benefits for the
Participant. For purposes of the Employee Retirement Income Security Act of 1974, as amended, the Plan is unfunded and maintained primarily for the purpose of providing non-qualified deferred compensation for the Participant who is part of a select
group of management or highly-compensated employees. 
  

	1.02	Effective Date 

 The Plan was originally effective
January 1, 2004. This restatement shall be effective January 1, 2008. 
  

 3 

 ARTICLE II - DEFINITIONS 
  

	2.01	“Administrator” means Rexnord LLC or its duly authorized representative. 

  

	2.02 	“Code” means the Internal Revenue Code of 1986, as amended from time to time. Reference to a specific provision of the Code shall include such provision, any valid
regulation or ruling promulgated thereunder, and any provision of future law that amends, supplements, or supersedes such provision. 

  

	2.03	“Employer” means Rexnord LLC or its successor in interest. 

  

	2.04	“Participant” means Robert A. Hitt. 

  

	2.05	“Plan” means the Rexnord Supplemental Executive Retirement Plan. 

  

	2.06	“Separation from Service” means the Participant’s Termination of Employment, or if the Participant continues to provide services following his Termination of
Employment, such later date as is considered a separation from service from the Employer and its 409A Affiliates within the meaning of Code Section 409A. Specifically, if the Participant continues to provide services to the Employer or a 409A
Affiliate in a capacity other than as an employee, such shift in status is not automatically a Separation from Service. For purposes of this Agreement: 

  

	 	(a)	The Participant’s “Termination of Employment” shall occur when the Employer and the Participant reasonably anticipate that no further services will be performed by
the Participant for the Employer and its 409A Affiliates or that the level of bona fide services the Participant will perform after such date as an employee of the Employer and its 409A Affiliates will permanently decrease to no more than 20% of the
average level of bona fide services performed by the Participant (whether as an employee or independent contractor) for the Employer and its 409A Affiliates over the immediately preceding 36-month period (or such lesser period of services).
Notwithstanding the foregoing, if the Participant takes a leave of absence for purposes of military leave, sick leave or other bona fide leave of absence, the Participant will not be deemed to have incurred a Separation from Service for the first 6
months of the leave of absence, or if longer, for so long as the Participant’s right to reemployment is provided either by statute or by contract; provided that if the leave of absence is due to a medically determinable physical or mental
impairment that can be expected to result in death or last for a continuous period of not less than six months, where such impairment causes the Participant to be unable to perform the duties of his position of employment or any substantially
similar position of employment, the leave may be extended for up to 29 months without causing a Termination of Employment. 

  

	 	(b)	The term “409A Affiliate” means each entity that is required to be included in the Employer’s controlled group of corporations within the meaning of Code
Section 414(b), or that is under common control with the Company within the meaning of Code Section 414(c), provided, however, that the phrase “at least 50 percent” shall be used in place of the phrase “at least 80
percent” each place it appears therein or in the regulations thereunder. 

  

	2.07 	“SERP Account” means the bookkeeping reserve account established pursuant to Article III and distributed pursuant to Article IV. 

  

 4 

 ARTICLE III - SERP ACCOUNT 
  

	3.01	Establishment of SERP Account 

 As of
January 1, 2004, the Participant shall have an opening balance in the Participant’s SERP Account of $67,216. 
  

	3.02	Annual Contribution 

 As of December 31, 2004
and each December 31 thereafter during the Participant’s employment with the Employer, the SERP Account shall be credited with the designated percentage (8.48%) of the Participant’s compensation. 
 For this purpose, “compensation” means base pay plus annual incentive bonus paid in the applicable calendar year pursuant to the Rexnord
Management Incentive Plan, including any salary reductions of those items pursuant to Code Section 125 of 401(k) or for nonqualified deferred compensation, but excluding any other bonus or benefits, such as any long-term incentive bonus, sale
bonus, relocation bonus or severance pay. 
  

	3.03	Pro-rata Credit in Year of Termination 

 As of the
date of the Participant’s termination of employment with the Employer, the SERP Account shall be credited with the designated percentage of the Participant’s compensation for such partial calendar year, pursuant to the applicable terms in
Section 3.02. 
  

	3.04	Annual Interest Credit 

 As of December 31,
2004 and each December 31 thereafter on which the Participant has a SERP Account, the SERP Account shall be credited with interest at the rate of 6.75% on the balance of the SERP Account on January 1 of such calendar year less the amount
of any distribution from the SERP Account during the year. 
  

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 ARTICLE IV - PAYMENT OF SERP ACCOUNT 
  

	4.01	Time and Form of Payment 

 The Participant’s
SERP Account shall be paid to the Participant in a lump sum in cash six months following the Participant’s Separation from Service. 
  

	4.02	Payment in the Event of Death 

 In the event of the
Participant’s death, the Participant’s SERP Account shall be paid in a lump sum within 30 days of the death to the beneficiary. The Participant’s beneficiary shall be the person or persons designated by the Participant on the
beneficiary designation form provided by and filed with Employer. If the Participant does not designate a beneficiary, the beneficiary shall be his surviving spouse. If the Participant does not designate a beneficiary and has no surviving spouse,
the beneficiary shall be the Participant’s estate. The designation of a beneficiary may be changed or revoked only by filing a new beneficiary designation form with the Employer. If a beneficiary (the “primary beneficiary”) is
receiving or is entitled to receive payments under the Plan and dies before receiving all of the payments due, the balance to which the primary beneficiary is entitled shall be paid to the contingent beneficiary, if any, named in the
Participant’s current beneficiary designation form. If there is no contingent beneficiary, the balance shall be paid to the estate of the primary beneficiary. Any beneficiary may disclaim all or any part of any benefit to which such beneficiary
shall be entitled hereunder by filing a written disclaimer with the Employer before payment of such benefit is to be made. Such a disclaimer shall be made in a form satisfactory to the Employer and shall be irrevocable when filed. Any benefit
disclaimed shall be payable from the Plan in the same manner as if the beneficiary who filed the disclaimer had died prior to the Participant. 
  

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 ARTICLE V - FUNDING 
  

	5.01	Funding 

 As of October 1, 2004, the Employer established the Trust Under the Rexnord Supplemental Executive Retirement Plan, a so-called “rabbi trust” to provide a pool of assets which is intended to be used, at
least in part, to “fund” the benefits payable under this Plan. The initial funding of the rabbi trust in the amounts detailed in Section 3.01 was made concurrent with the adoption of this Plan. Future amounts credited to the
Participant’s SERP Account pursuant to Sections 3.02, 3.03 and 3.04 for any calendar year shall be contributed by the Employer into the rabbi trust no later than 30 days subsequent to the end of that calendar year (i.e., by
January 30th of the following calendar year). Notwithstanding the foregoing, any such trust assets shall be subject to the claims of creditors
of the Employer. The Employer shall be required to make payments only as benefits become due and payable. No person shall have any right, other than the right of an unsecured general creditor, against the Employer with respect to the benefits
payable hereunder, or which may be payable hereunder, to the Participant or beneficiary hereunder. If the Employer, acting in its sole discretion, establishes a reserve or other fund associated with this Plan other than the rabbi trust, no person
shall have any right to or interest in any specific amount or asset of such reserve or fund by reason of amounts which may be payable to such person under this Plan, nor shall such person have any right to receive any payment under this Plan except
as and to the extent expressly provided in this Plan. The assets in any such reserve or other fund shall be subject to the control of the Employer, and need not be used to pay benefits hereunder. 
  

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 ARTICLE VI - ADMINISTRATION 
  

	6.01	Duties of Administrator 

 The Administrator shall
have full authority to construe and interpret the terms and provisions of the Plan, to adopt, alter and repeal such administrative rules, guidelines and practices governing this Plan and perform all acts, including the delegation of its
administrative responsibilities, as it shall, from time to time, deem advisable, and to otherwise supervise the administration of this Plan. The Administrator may correct any defect, supply any omission or reconcile any inconsistency in the Plan, or
in any election hereunder, in the manner and to the extent it shall deem necessary to carry the Plan into effect. Any decision, interpretation or other action made or taken in good faith by or at the direction of the Administrator in connection with
the Plan shall be within the absolute discretion of the Administrator and shall be final, binding and conclusive on the Employer and the Participant and his respective heirs, executors, administrators, successors and assigns. 
  

	6.02	Finality of Decisions 

 The Administrator is
expressly granted, without intending any limitation, the discretion to construe the terms of the Plan and to determine eligibility for benefits hereunder. The decisions made by and the actions taken by the Administrator in the administration of the
Plan shall be final and conclusive on all persons, and neither the Administrator nor the Employer shall be subject to individual liability with respect to the Plan. 
  

 8 

 ARTICLE VII - MISCELLANEOUS 
  

	7.01	Non-Guarantee of Employment 

 Nothing contained in
this Plan shall be construed as a contract of employment between the Employer and the Participant, or as a right of the Participant to be continued in the employment of the Employer, or as a limitation on the right of the Employer to deal with the
Participant, as to his hiring, discharge, layoff, compensation, and all other conditions of employment in all respects as though this Plan did not exist. 
  

	7.02	Amendments/Termination 

 The Employer reserves the
right to make from time to time amendments to or terminate this Plan by vote duly adopted by its Board of Directors, provided that no such amendment or termination shall reduce any benefits earned under the terms of this Plan prior to the date of
termination or amendment and that no such amendment shall affect the timing or form of payment unless in compliance with Code Section 409A. 
  

	7.03	Nonassignability 

 The benefits payable under this
Plan shall not be subject to alienation, assignment, garnishment, execution or levy of any kind and any attempt to cause any benefits to be so subjected shall not be recognized, except to the extent required by applicable law. 
  

	7.04	Entire Agreement; Successors 

 This Plan, including
any subsequently adopted amendments, shall constitute the entire agreement or contract between the Employer and the Participant regarding the Plan. There are no covenants, promises, agreements, conditions or understandings, either oral or written,
between the Employer and the Participant relating to the subject matter hereof, other than those set forth in this Plan. This Plan and any amendment shall be binding on the Employer, the Participant and their respective heirs, administrators,
trustees, successors and assigns, and on all designated beneficiaries of the Participant. 
  

	7.05	Successor Employer 

 In the event of the
dissolution, merger, consolidation or reorganization of the Employer, provision shall be made by which a successor to all or a major portion of the Employer’s property or business shall continue this Plan, and the successor shall have all of
the powers, duties, obligations and responsibilities of the Employer under this Plan. 
  

	7.06	Governing Law 

 This Plan shall be construed and
enforced in accordance with, and governed by, the laws of the State of Delaware. 
  

	7.07	Claims Procedure 

 The Claims Procedure currently
detailed, and as may later be amended, under the Rexnord 401(k) Plan is hereby incorporated by reference as the Claims Procedure for this Plan; provided, however that the “Board of Directors, or its duly authorized representative”, shall
be substituted for the “Committee” in the Claims Procedure detailed in such plan. 
  

	7.08	Additional Section 409A Provisions 

  

	 	(a)	If an amount or the value of a benefit under the Plan is required to be included in the Participant’s income prior to the date such amount is actually distributed or benefit
provided as a result of the failure of the Plan (or any other arrangement required to be aggregated with the Plan under Code Section 409A) to comply with Code Section 409A, then the Participant shall receive a distribution, in a lump sum,
within 90 days after the date it is finally determined that the Plan fails to meet the requirements of Code Section 409A; such distribution shall equal the amount required to be included in the Participant’s income as a result of such
failure and shall reduce the amount of payments or benefits otherwise due hereunder. 

  

	 	(b)	If any payment or the provision of any benefit required under the terms of the Plan would jeopardize the ability of the Employer to continue as a going concern, the Employer shall
not be required to make such payment or provide such benefit; rather, the payment or benefit shall be delayed until the first date that making the payment or benefit does not jeopardize the ability of the Employer to continue as a going concern.

  

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	 	(c)	If any payment or benefit due pursuant to the Plan would violate the terms of Section 16(b) of the Securities Exchange Act of 1934 or other Federal securities laws, or any
other applicable law, then the payment or the provision of the benefit shall be delayed under the earliest date on which making such payment or providing such benefit would not violate such law. 

  

	 	(d)	The Employer and the Participant intend the terms of the Plan to be in compliance with Code Section 409A. The Employer does not guarantee the tax treatment or tax consequences
associated with any payment or benefit, including but not limited to consequences related to Code Section 409A. To the maximum extent permissible, any ambiguous terms of the Plan shall be interpreted in a manner which avoids a violation of Code
Section 409A. 

  

	 	(e)	To avoid an additional tax on payments that may be payable or benefits that may be provided under the Plan and that constitute deferred compensation that is not exempt from Code
Section 409A, the Participant must make a reasonable, good faith effort to collect any payment or benefit to which the Participant believes the Participant is entitled hereunder no later than 90 days after the latest date upon which the payment
could have been made or benefit provided under the Plan, and if not paid or provided, must take further enforcement measures within 180 days after such latest date. 

  

 10Form of Change of Control Agreement

 Exhibit 10.10 
 CARDIODYNAMICS INTERNATIONAL CORPORATION 
 AMENDED AND RESTATED CHANGE OF CONTROL AGREEMENT 

 THIS AMENDED AND RESTATED CHANGE OF CONTROL AGREEMENT (this “Agreement”) is effective as of this
             day of                     , 2008 by and between
                                 (“Executive”) and CARDIODYNAMICS
INTERNATIONAL CORPORATION, a California corporation (the “Company”). 
 Executive and the Company desire to make certain amendments
to Executive’s Change of Control Agreement first executed in 2006 (the “Prior Agreement”) to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and to make certain other revisions to
the Prior Agreement. Therefore, the parties agree that this Agreement will supersede, amend and restate the Prior Agreement in all respects. 
 RECITALS 
 The Board of Directors of the Company believes it is in the best interests of the Company to provide Executive
with compensation arrangements and equity benefits upon a Change of Control (as hereinafter defined) that are intended to provide Executive with enhanced financial security, are competitive with those of other companies, and provide sufficient
incentive to Executive to remain at the Company as an employee through and after a Change of Control. 
 In consideration of the mutual
promises and covenants herein contained, and in consideration of the continuing employment of Executive by the Company, the adequacy and sufficiency of which are hereby acknowledged, the parties agree as follows: 
 AGREEMENT 
 1. Definition of
Terms. The following terms referred to in this Agreement shall have the following meanings: 
 (a) “Base Compensation” means,
as at any time the same is to be determined, the greater of (i) the annual base salary the Company pays Executive for his or her services immediately prior to the termination of Executive’s employment or (ii) the annual base salary
the Company pays Executive for his or her services immediately prior to a Change of Control which occurs within twelve (12) months prior to the termination of Executive’s employment. 
 (b) “Cause” means (i) gross negligence or willful misconduct in the performance of Executive’s duties to the Company, including
Executive’s refusal to comply in any material respect with the legal directives of the Board of Directors, or any member of the Company’s management, if any, that is higher in rank than Executive after Executive has been notified in
writing; (ii) material and willful violation of any federal or state law by Executive that has resulted or is likely to result in material damage to the Company; (iii) commission of any act of fraud by Executive with respect to the
Company; or (iv) Executive’s conviction of a felony or a crime causing material harm to the standing and reputation of the Company. 
  

 -1- 

 (c) “Change of Control” means the occurrence of any of the following, whether they occur in a
single transaction or series of related transactions: 
 (i) any person, or more than one person acting as a group, acquires
ownership of the stock of the Company that, together with stock held by such person or group, constitutes more than fifty percent (50%) of the total fair market value or total voting power of the stock of the Company; 
 (ii) consummation of a reorganization, merger, statutory share exchange or consolidation or similar corporate transaction involving the
Company (each a “Business Combination”), in each case, unless, following such Business Combination, all or substantially all of the individuals and entities who were beneficial owners, respectively, of the voting securities of the Company
immediately prior to such Business Combination beneficially own, directly or indirectly, more than fifty percent (50%) of the then outstanding shares of the common stock and the combined voting power of the then outstanding voting securities
entitled to vote generally in the election of directors of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Company or substantially all of the
Company’s assets either directly or through one or more subsidiaries); 
 (iii) any person, or more than one person
acting as a group, acquires all or substantially all of the assets of the Company; or 
 (iv) the incumbent members of the
Board of Directors as of the date of this Agreement cease for any reason to constitute at least a majority of the Board, unless the nomination or election of new directors is approved by a majority of the incumbent directors. 
 (d) an “Involuntary Termination” shall be deemed to occur if Executive resigns from the company due to: 
 (i) without Executive’s express written consent, a material reduction of Executive’s authority, duties or responsibilities
relative to Executive’s, authority, duties, or responsibilities in effect immediately prior to such reduction; 
 (ii)
without Executive’s express written consent, a material reduction by the Company of Executive’s Base Compensation as in effect immediately prior to such reduction; 
 (iii) without Executive’s express written consent, the relocation of Executive’s principal place of employment to a facility or
a location more than fifty (50) miles from his or her current location; 
 (iv) any purported termination of Executive by
the Company which is not effected for Cause or by reason of death or disability; or 
 (v) the failure of the Company to
obtain the assumption of this Agreement by any successors contemplated in Section 9 below; 
  

 -2- 

 provided that Executive complies with the provisions of Section 8(b)(ii). 
 2. Change of Control Severance Benefits. If Executive’s employment with the Company terminates at any time during the period commencing
thirty (30) days prior to the date of the announcement of a Change of Control and ending twenty-four (24) months after a Change of Control, then the following shall apply: 
 (a) Voluntary Resignation; Termination For Cause. If Executive voluntarily resigns from the Company or is terminated for Cause, Executive shall
not be entitled to receive severance or other benefits hereunder except for those, if any, as may be available under the Company’s severance and benefits plans and policies then existing at the time of such termination. 
 (b) Involuntary Termination; Termination Without Cause. Subject to the terms and conditions hereof, if an Involuntary Termination occurs or
Executive is terminated without Cause, Executive shall be entitled to receive for fifteen (15) months from the date of such termination, or from the date of the Change of Control, if such termination occurred no more than thirty (30) days
before a Change of Control: 
 (i) an amount equal to the sum of Executive’s Base Compensation (as determined at the time
of such termination) payable over the course of such fifteen (15) month period in regular payroll increments; and 
 (ii)
continuation of all health and disability insurance benefits (including, if applicable, vision, dental benefits) provided by the Company to Executive and his or her family under the Company’s benefits plan immediately prior the termination
(with Executive to continue to pay any portion of the premiums therefor paid by Executive prior to the Change of Control during such period of continuation). 
 3. Option and Stock Acceleration. 
 (a) Acceleration of Stock Options or Other Equity Awards.
Subject to the terms and conditions hereof, if Executive’s employment with the Company is terminated without Cause or as the result of an Involuntary Termination within the twelve (12) month period following a Change of Control, then
(i) the remaining portion of Executive’s unvested stock options or other equity awards shall fully vest, such that all outstanding stock options and other equity awards granted to Executive shall be vested one hundred percent (100%); and
(ii) to the extent that such options are assumed by the acquiring or surviving entity as part of any relevant Change of Control, and notwithstanding the terms of such stock options with respect to his or her termination, Executive shall be
entitled to exercise any stock options held thereby for a period from the date of his or her termination up to the date which is the earlier to occur of: (A) the one year anniversary of such termination, or (B) the original stated
expiration date of such options. 
 (b) Voluntary Resignation; Termination for Cause. Executive shall not be entitled to receive any
accelerated vesting for any then unvested portion of his or her stock options or other equity awards if Executive voluntarily resigns from the Company or if Executive is terminated for Cause prior to or following a Change of Control. 
  

 -3- 

 4. Code Section 409A Provisions. Notwithstanding any provision to the contrary in this
Agreement, the Company shall delay the commencement of payments or benefits coverage to which Executive would otherwise become entitled under the Agreement in connection with his or her termination of employment until the earlier of (i) the
expiration of the six-month period measured from the date of the Executive’s “separation from service” with the Company (as such term is defined in Treasury Regulations issued under Section 409A of the Code) or (ii) the date
of the Executive’s death, if and only if the Company in good faith determines that the Executive is a “specified employee” within the meaning of that term under Code Section 409A at the time of such separation from service and
that such delayed commencement is otherwise required in order to avoid a prohibited distribution under Section 409A(a)(2) of the Code. Upon the expiration of the applicable Code Section 409A(a)(2) deferral period, all payments and benefits
deferred pursuant to this Section 4 (whether they would have otherwise been payable in a single sum or in installments in the absence of such deferral) shall be paid or reimbursed to the Executive in a lump sum, together with interest for the
period of delay, compounded monthly, equal to the prime or base lending rate as set forth in the Wall Street Journal and in effect as of the date the payment would otherwise have been provided, and any remaining payments and benefits due
under the Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. 
 In the event a
benefit is to be provided during the applicable Code Section 409A(a)(2) deferral period and the provision of such benefit during that period would violate Section 409A(a)(2) of the Code, then continuation of such benefit during that period
shall be conditioned on payment by the Executive of the full premium or other cost of coverage and upon the expiration of such deferral period the Company shall reimburse the Executive for the premiums or other cost of coverage paid by the
Executive, which but for this Section 4 would have been paid by the Company. Any such reimbursement shall include interest at the rate set forth above. The Company and Executive may agree to take other actions to avoid the imposition of 409A
tax at such time and in such manner as permitted under Section 409A. 
 The provisions of this Agreement which require commencement of
payments or benefits coverage subject to Section 409A upon a termination of employment shall be interpreted to require that Executive have a “separation from service” with the Company (as such term is defined in Treasury Regulations
issued under Code Section 409A). In addition, and notwithstanding any provision to the contrary in this Agreement, each payment made pursuant to Section 2 shall for all purposes of Section 409A of the Code be treated as a separate
payment and not as a single payment. 
 The provisions of this Section 4 are intended to assure that any benefits provided to Executive
hereunder shall comply with Code Section 409A and this Agreement shall be interpreted consistent with such section in all respects. 
 5. Non-Compete. 
 (a) Executive acknowledges that his or her agreement not to compete with the Company is an essential part
of the Company’s willingness to provide severance payments and other benefits hereunder. Executive and the Company agree that, due to the nature of Executive’s employment with the Company, Executive has confidential and proprietary
information relating to the business and 

  

 -4- 

 
operations of the Company. Executive acknowledges that such information is of utmost importance to the business of the Company and will continue to be so
after Executive’s relationship with the Company is terminated. Executive further acknowledges that, based on Executive’s unique skills, position and exposure to confidential and proprietary information of the Company, the breach or
threatened breach by Executive of the provisions of this Agreement would cause irreparable harm to the Company, which harm will not be adequately and fully redressed by the payment of damages to the Company. Executive further acknowledges that in
the event Executive’s employment with the Company terminates, Executive will be able to earn a livelihood without violating the restrictions set forth in this Agreement. 
 (b) Executive agrees that the limitations of time, geography and scope of activity agreed to in the foregoing covenants are reasonable because, among
other things, (i) the Company is engaged in a highly competitive industry, (ii) Executive has unique access to, and will continue to have access to, the trade secrets and know-how of the Company, including, without limitation, the plans
and strategy (and, in particular, the competitive strategy) of the Company, (iii) Executive is receiving significant consideration in connection with this Agreement, and (iv) if Executive’s employment with the Company ended, Executive
would be able to obtain suitable and satisfactory employment without violation of this Agreement. 
 (c) During the period Executive is
receiving payments and/or other benefits pursuant to the terms of this Agreement, Executive agrees not to perform any services for any company or entity in California that directly or indirectly competes with the Company. During the period Executive
is receiving payments and/or other benefits pursuant to the terms of this Agreement and for a period of six (6) months thereafter, Executive agrees not to perform any services for any company or entity in any state outside of California that
directly or indirectly competes with the Company. 
 6. At-Will Employment. The Company and Executive acknowledge that
Executive’s employment is at-will and may be terminated at any time and for any reason, with or without notice. On termination of Executive’s employment with the Company, Executive shall not be entitled to any payments, benefits, damages,
awards or compensation other than as provided by this Agreement, or as may otherwise be available in accordance with the Company’s established employee plans and policies at the time of termination. 
 7. Term, Amendment and Termination, and Conditions. 
 (a) Term. Subject to Section 6 hereof, this Agreement shall terminate upon the later of (i) the date that all obligations of the parties hereunder have been satisfied or (ii) twenty-four
(24) months after a Change of Control. A termination of this Agreement pursuant to the preceding sentence shall be effective for all purposes, except that such termination shall not affect the payment or provision of compensation or benefits on
account of a termination of employment occurring prior to the termination of the terms of this Agreement. 
 (b) Amendment and
Termination. This Agreement may be amended or terminated only by written agreement of Executive and the Chief Executive Officer or, if Executive is the Chief Executive Officer, an authorized officer or board member of the Company. 
  

 -5- 

 (c) Conditions to Severance Benefits. The payments and other accommodations afforded Executive
pursuant to Sections 2(b) and 3(a) above shall be subject to Executive executing and delivering to the Company, if requested by the Company, a general release of claims in form and substance satisfactory to the Company within such period of time as
the Company may require, but not more than sixty (60) days following termination of employment if terminated after a Change of Control, or sixty (60) days following a Change of Control if termination of employment occurred no more than
thirty (30) days prior to a Change of Control; provided, however, that subject to Section 4, the Company shall retain sole discretion to determine if and when such payments and other accommodations shall be made or commence pending receipt
of the release. 
 8. Notice. 
 (a) General. Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by U.S. registered or certified mail, return
receipt requested and postage prepaid or when mailed overnight delivery via a courier company. In the case of Executive, mailed notices shall be addressed to Executive at the home address which Executive most recently communicated to the Company in
writing. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Chief Executive Officer or the Chairman of the Board of Directors. 
 (b) Notice of Termination. 
 (i) Any termination by the Company for Cause shall be communicated by a notice of termination to the Executive given in accordance with Section 7(a) hereof. Such notice shall indicate the specific termination provision in this
Agreement relied upon, set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination under the provision so indicated, and specify the termination date (which shall be not more than fifteen (15) days
after the giving of such notice). The failure by the Company to include in the notice any fact or circumstance that contributes to a showing of Cause shall not waive any right of the Company hereunder or preclude the Company from asserting such fact
or circumstance in enforcing its rights hereunder. 
 (ii) Any termination by Executive as a result of an Involuntary
Termination shall be communicated by a notice of termination to the Company given in accordance with Section 7(a) hereof within ninety (90) days of the initial existence of the condition which provides a basis for such termination. Such
notice shall indicate the specific termination provision in this Agreement relied upon, set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination under the provision so indicated, and specify the
termination date (which shall not be more than ninety (90) days after the giving of such notice and which must occur within two (2) years following the initial existence of the condition which provides a basis for such termination). Upon
receipt of such notice, the Company shall have thirty (30) days to remedy the condition causing the Involuntary Termination, and if such condition is remedied within such time period, the Company need not pay the severance payments and other
benefits owed Executive under Sections 2(b) and 3(a) of this Agreement. 
  

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 9. Successors. 
 (a) Company’s Successors. Any successor to the Company (whether direct or indirect and whether by purchase, lease, merger, consolidation, liquidation or otherwise) to all or substantially all of the
Company’s business and/or assets shall assume the Company’s obligations under this Agreement and agree expressly to perform the Company’s obligations under this Agreement in the same manner and to the same extent as the Company would
be required to perform such obligations in the absence of a succession. For all purposes under this Agreement, the term “Company” shall include any successor to the Company’s business and/or assets which executes and delivers the
assumption agreement described in this subsection (a) or which becomes bound by the terms of this Agreement by operation of law. 
 (b)
Executive’s Successors. Without the written consent of the Company, Executive shall not assign or transfer this Agreement or any right or obligation under this Agreement to any other person or entity. Notwithstanding the foregoing, the
terms of this Agreement and all rights of Executive hereunder shall inure to the benefit of, and be enforceable by, Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and
legatees. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or the Company’s successors and assigns the rights, remedies, obligations or liabilities under or by reason of this
Agreement, except as expressly provided in this Agreement. 
 10. Miscellaneous Provisions. 
 (a) No Duty to Mitigate. Executive shall not be required to mitigate the amount of any payment contemplated by this Agreement (whether by seeking
new employment or in any other manner). 
 (b) Waiver. No provision of this Agreement shall be modified, waived or discharged unless
the modification, waiver or discharge is agreed to in writing and signed by Executive and the Chief Executive Officer or, if Executive is the Chief Executive Officer, an authorized officer or board member of the Company. No waiver by either party of
any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 
 (c) Entire Agreement. No agreements, representations or understandings (whether oral or written and whether express or implied) which are not
expressly set forth in this Agreement have been made or entered into by either party with respect to the subject matter hereof. 
 (d)
Choice of Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of California, without giving effect to its conflict of laws provisions. 
 (e) Severability. If any provision or set of provisions of this Agreement (or any portion thereof) is held by an arbitrator or court of competent
jurisdiction to be invalid, illegal or unenforceable for any reason whatever: (a) such provision shall be limited or modified in its application to the minimum extent necessary to avoid the invalidity, illegality or unenforceability of such
provision and such modified provision shall be reduced to a writing and signed by the parties hereto; (b) the validity, legality and enforceability 

  

 -7- 

 
of the remaining provisions of this Agreement shall not in any way be affected or impaired thereby; and (c) to the fullest extent possible, the
provisions of this Agreement shall be construed so as to give effect to the intent manifested by the provision (or portion thereof) held invalid, illegal or unenforceable. 
 (f) Withholding Taxes. All payments made pursuant to this Agreement will be subject to withholding of applicable taxes. 
 (g) Amendment of Option and Purchase Agreements. The Company and Executive agree that the provisions of this Agreement shall supersede any
conflicting provisions of any stock purchase or stock option agreement of Executive, and the Company and Executive agree to execute such further documents as may be necessary to amend any such agreement. 
 (h) Headings. The headings of sections herein are included solely for convenience of reference and shall not control the meaning or interpretation
of any provisions of this Agreement. 
 (i) Counterparts. This Agreement may be executed in counterparts, each of which shall be
deemed an original, but all of which together will constitute one and the same instrument. 
  

 -8- 

 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its
duly authorized officer, as of the day and year first above written. 
  

									
	CARDIODYNAMICS INTERNATIONAL CORPORATION	 		 	EXECUTIVE
					
	By 	 	 	 		 	By 	 	 

									
					
	Print Name 	 	 	 		 	Print Name 	 	 

									
				
	Title 	 	 	 		 	

  

 -9-

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