Document:

EX-10.2

 

Exhibit 10.2

SCHEDULE IDENTIFYING MATERIAL DIFFERENCES BETWEEN

AMENDED EMPLOYMENT AGREEMENTS

BETWEEN NEOPROBE CORPORATION AND

THE INDIVIDUALS LISTED BELOW

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Commencement	 	 	 	 	 	 	 	 	 	 	 	Amount of Severance
	 	 	Date	 	Term	 	2008 Base Salary	 	Amount of Severance	 	upon change of control
	David C. Bupp

	 	1/1/2007
	 	36 months
	 	$	325,000	 	 	$	426,250	 	 	Greater of: (a) 30
months salary; or (b)
$802,500

	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Brent L. Larson

	 	1/1/2007
	 	24 months
	 	$	177,000	 	 	$	177,000	 	 	$	354,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Anthony K. Blair

	 	1/1/2007
	 	24 months
	 	$	150,000	 	 	$	150,000	 	 	$	300,000	 

	 	 	 	 	 	 	 
	 	 	 	 	Continuation of Benefits	 	 
	 	 	Continuation of Benefits	 	Upon Termination	 	Continuation of Benefits
	 	 	Upon Disability	 	Without Cause	 	Upon Change of Control
	David C. Bupp

	 	Longer of 24 months or
the full unexpired Term
of the Agreement
	 	Longer of 36 months or
the full unexpired Term
of the Agreement
	 	Longer of 36 months or
the full unexpired Term
of the Agreement
	 
	 	 	 	 	 	 
	Brent L. Larson

	 	Longer of 12 months or
the full unexpired Term
of the Agreement
	 	12 months
	 	Longer of 12 months or
the full unexpired Term
of the Agreement
	 
	 	 	 	 	 	 
	Anthony K. Blair

	 	Longer of 12 months or
the full unexpired Term
of the Agreement
	 	Longer of 12 months or
the full unexpired Term
of the Agreement
	 	Longer of 12 months or
the full unexpired Term
of the AgreementEX-10.3

 

Exhibit 10.3

NEOPROBE CORPORATION

AMENDED AND RESTATED 2002 STOCK INCENTIVE PLAN

RESTRICTED STOCK AWARD GRANT NOTICE AND

RESTRICTED STOCK AWARD AGREEMENT

     Neoprobe Corporation (the “Company”), pursuant to its Amended and Restated 2002 Stock
Incentive Plan (the “Plan”), hereby grants to the individual listed below (“Holder”) the right to
purchase the number of the Company’s common shares, par value $.001 per share, set forth below (the
“Shares”), at the purchase price per share set forth below. This Restricted Stock award is subject
to all of the terms and conditions as set forth herein and in the Restricted Stock Award Agreement
attached hereto as Exhibit A (the “Restricted Stock Agreement”) and the Plan, each of
which are incorporated herein by reference. Unless otherwise defined herein, the terms defined in
the Plan shall have the same defined meanings in this Grant Notice and the Restricted Stock
Agreement.

	 	 	 
	Holder:
	 	 
	 
	 	 
	Grant Date:
	 	 
	 
	 	 
	Purchase Price per Share:

	 	$     
	 
	 	 
	Total Number of Shares of Restricted Stock:

	 	[                    ] shares
	 
	 	 
	Vesting Schedule:
	 	 

     By his or her signature and the Company’s signature below, Holder agrees to be bound by the
terms and conditions of the Plan, the Restricted Stock Agreement, and this Grant Notice. Holder has
reviewed the Restricted Stock Agreement, the Plan, and this Grant Notice in their entirety, has had
an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully
understands all provisions of this Grant Notice, the Restricted Stock Agreement, and the Plan.
Holder hereby agrees to accept as binding, conclusive and final all decisions or interpretations of
the Compensation, Governance and Nominating Committee of the Company upon any questions arising
under the Plan, this Grant Notice or the Restricted Stock Agreement.

	 	 	 	 	 	 	 	 	 	 	 
	NEOPROBE CORPORATION:	 	 	 	HOLDER:	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 	 	 
	 

	 	 

	 	 
	 	 	 	 

	 	 
	Print Name:

	 	 	 	 	 	Print Name:	 	 	 	 
	 

	 	 

	 	 
	 	 	 	 

	 	 
	Title:
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Address:

	 	425 Metro Place North, Suite 300
	 	 	 	Address:	 	 	 	 
	 

	 	Dublin, Ohio 43017	 	 	 	 	 	 	 	 

 

 

EXHIBIT A

TO RESTRICTED STOCK AWARD GRANT NOTICE

RESTRICTED STOCK AWARD AGREEMENT

     Pursuant to the Restricted Stock Award Grant Notice (“Grant Notice”) to which this
Restricted Stock Award Agreement (this “Agreement”) is attached, Neoprobe Corporation (the
“Company”) has granted to Holder the right to purchase the number of shares of Restricted Stock
under the Company’s Amended and Restated 2002 Stock Incentive Plan (the “Plan”) indicated in the
Grant Notice.

ARTICLE I

GENERAL

     1.1 Defined Terms. Capitalized terms not specifically defined herein shall have
the meanings specified in the Plan and the Grant Notice.

     1.2 Incorporation of Terms of Plan. The Shares are subject to the terms and
conditions of the Plan which are incorporated herein by reference.

ARTICLE II

GRANT OF RESTRICTED STOCK

     2.1 Grant of Restricted Stock. In consideration of Holder’s past and/or continued
employment with or service to the Company or its Subsidiaries and for other good and valuable
consideration, effective as of the Grant Date set forth in the Grant Notice (the “Grant Date”), the
Company irrevocably grants to Holder the right to purchase the number of common shares set forth in
the Grant Notice (the “Shares”), upon the terms and conditions set forth in the Plan and this
Agreement.

     2.2 Purchase Price. The purchase price of the Shares shall be as set forth in the
Grant Notice, without commission or other charge. The payment of the purchase price shall be paid
by cash or check.

     2.3 Issuance of Shares. The issuance of the Shares under this Agreement shall
occur at the principal office of the Company simultaneously with the execution of this Agreement by
the parties or on such other date as the Company and Holder shall agree (the “Issuance Date “).
Subject to the provisions of Article IV below, on the Issuance Date, the Company shall issue the
Shares (which shall be issued in Holder’s name).

     2.4 Conditions to Issuance of Stock Certificates. The Shares, or any portion
thereof, may be either previously authorized but unissued shares or issued shares which have been
reacquired by the Company. Such Shares shall be fully paid and nonassessable. The Company shall not
be required to issue or deliver any Shares prior to fulfillment of all of the following conditions:

          (a) The completion of any registration or other qualification of such shares under
any state or federal law or under rulings or regulations of the Securities and Exchange Commission
or of any other governmental regulatory body, which the Compensation, Governance and Nominating
Committee of the Company (hereinafter, the “Administrator”) shall, in its absolute discretion, deem
necessary or advisable;

          (b) The obtaining of any approval or other clearance from any state or federal
governmental agency which the Administrator shall, in its absolute discretion, determine to be
necessary or advisable;

          (c) The lapse of such reasonable period of time following the Issuance Date as the
Administrator may from time to time establish for reasons of administrative convenience; and

 

 

          (d) The receipt by the Company of full payment for such shares, including payment of
all amounts which, under federal, state or local tax law, the Company (or other employer
corporation) is required to withhold upon issuance of such Shares.

     2.5 Rights as Stockholder. Except as otherwise provided herein, upon delivery of
the Shares to the escrow agent pursuant to Article IV, the Holder shall have all the rights of a
stockholder with respect to said Shares, subject to the restrictions herein, including the right to
vote the Shares and to receive all dividends or other distributions paid or made with respect to
the Shares.

     2.6 Consideration to the Company. In consideration of the issuance of the Shares
by the Company, Holder agrees to render faithful and efficient services to the Company or any
Subsidiary. Nothing in the Plan or this Agreement shall confer upon Holder any right to continue in
the employ or service of the Company or any Subsidiary or shall interfere with or restrict in any
way the rights of the Company and its Subsidiaries, which rights are hereby expressly reserved, to
discharge or terminate the services of Holder at any time for any reason whatsoever, with or
without cause, except to the extent expressly provided otherwise in a written agreement between the
Company or a Subsidiary and Holder.

     2.7 Assets or Securities Issued With Respect to Shares. Any and all cash
dividends paid on the Shares and any and all common shares, capital stock or other securities or
other property received by or distributed to Holder with respect to, in exchange for or in
substitution of the Shares as a result of any stock dividend, stock split, reverse stock split,
recapitalization, combination, reclassification, or similar change in the capital structure of the
Company shall also be subject to the restrictions in Article III below until such restrictions on
the underlying Shares lapse or are removed pursuant to this Agreement. In addition, in the event of
any merger, consolidation, share exchange or reorganization affecting the Shares, including,
without limitation, a Change of Control, then any new, substituted or additional securities or
other property (including money paid other than as a regular cash dividend) that is by reason of
any such transaction received with respect to, in exchange for or in substitution of the Shares
shall also be subject to the restrictions in Article III below until such restrictions on the
underlying Shares lapse or are removed pursuant to this Agreement.

ARTICLE III

RESTRICTIONS ON SHARES

     3.1 Vesting. The Shares shall vest and be released from the forfeiture
restrictions and restrictions on transfer set forth below in Sections 3.2 and 3.3 of this Agreement
in accordance with the Vesting Schedule set forth on the Grant Notice.

     3.2 Forfeiture Restrictions.

          (a) Upon
the termination of Holder’s employment with the Company, all Shares that have not
vested in accordance with the Vesting Schedule set forth on the Grant Notice (“Unreleased Shares”),
held by Holder at the effective date of such termination, shall immediately and automatically be
forfeited by Holder and assigned back to the Company.

          (b) 
In the event any of the Shares have not vested on or before            
         
       , 2008 (or such
later date as the Administrator may determine in writing in its sole discretion from time-to-time)
(the “Termination Date”), all such Unreleased Shares held by Holder at the Termination Date shall
immediately and automatically be forfeited by Holder and assigned back to the Company.

 

 

     3.3 Restrictions on Transfer. No Unreleased Shares or any interest or right
therein or part thereof shall be liable for the debts, contracts or engagements of Holder or his or
her successors in interest or shall be subject to disposition by transfer, alienation,
anticipation, pledge, encumbrance, assignment or any other means whether such disposition be
voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any
other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof
shall be null and void and of no effect.

ARTICLE IV

ESCROW OF SHARES

     4.1 Escrow of Shares. The Shares shall be held by the Company as escrow agent
until such time as the Shares have vested in accordance with the Vesting Schedule set forth on the
Grant Notice. Upon the vesting and release of the Shares from the restrictions set forth in Article
III above, the Company shall deliver to Holder a certificate or certificates representing such
Shares.

ARTICLE V

OTHER PROVISIONS

     5.1 Adjustment for Stock Split. In the event of any stock dividend, stock split,
reverse stock split, recapitalization, combination, reclassification, or similar change in the
capital structure of the Company, the Administrator shall make appropriate and equitable
adjustments in the number of Shares, consistent with any adjustment under Section 4.3 of the Plan.
The provisions of this Agreement shall apply, to the full extent set forth herein with respect to
the Shares, to any and all shares of capital stock or other securities which may be issued in
respect of, in exchange for, or in substitution of the Shares, and shall be appropriately adjusted
for any stock dividends, splits, reverse splits, combinations, recapitalizations and the like
occurring after the date hereof.

     5.2 Taxes. Holder has reviewed with Holder’s own tax advisors the federal, state,
local and foreign tax consequences of this investment and the transactions contemplated by the
Grant Notice and this Agreement. Holder is relying solely on such advisors and not on any
statements or representations of the Company or any of its agents. Holder understands that Holder
(and not the Company) shall be responsible for Holder’s own tax liability that may arise as a
result of this investment or the transactions contemplated by this Agreement. Holder understands
that Holder will recognize ordinary income for federal income tax purposes under Section 83 of the
Code equal to the fair market value of the Shares on the Grant Date.

     5.3 Limitations Applicable to Section 16 Persons. Notwithstanding any other
provision of the Plan or this Agreement, if Holder is subject to Section 16 of the Exchange Act,
the Plan, the Shares and this Agreement shall be subject to any additional limitations set forth in
any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule
16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the
extent permitted by applicable law, this Agreement shall be deemed amended to the extent necessary
to conform to such applicable exemptive rule.

 

 

     5.4 Administration. The Administrator shall have the power to interpret the Plan
and this Agreement and to adopt such rules for the administration, interpretation and application
of the Plan as are consistent therewith and to interpret, amend or revoke any such rules. All
actions taken and all interpretations and determinations made by the Administrator in good faith
shall be final and binding upon Holder, the Company and all other interested persons. No member of
the Administrator shall be personally liable for any action, determination or interpretation made
in good faith with respect to the Plan, this Agreement or the Shares. In its absolute discretion,
the Board of Directors of the Company may at any time and from time to time exercise any and all
rights and duties of the Administrator under the Plan and this Agreement.

     5.5 Restrictive Legends and Stop-Transfer Orders.

          (a) Any share certificate(s) evidencing the Shares issued hereunder shall be
endorsed with the following legend and any other legend required by any applicable federal and
state securities laws:

THE SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO, AND ARE
TRANSFERABLE ONLY IN COMPLIANCE WITH, THE TERMS AND CONDITIONS OF A CERTAIN
RESTRICTED STOCK AWARD AGREEMENT, DATED           
                   
      , 2007, BETWEEN THE REGISTERED
HOLDER OF THESE SHARES AND NEOPROBE CORPORATION, WHICH AGREEMENT IS ON FILE WITH THE
SECRETARY OF THE CORPORATION, AND THE HOLDER HEREOF ACCEPTS AND HOLDS THIS
CERTIFICATE SUBJECT TO AND WITH NOTICE OF ALL OF THE TERMS, CONDITIONS AND
PROVISIONS OF SAID AGREEMENT AND AGREES TO BE BOUND THEREBY.

          (b) Holder agrees that, in order to ensure compliance with the restrictions referred
to herein, the Company may issue appropriate “stop transfer” instructions to its transfer agent, if
any, and that, if the Company transfers its own securities, it may make appropriate notations to
the same effect in its own records.

          (c) The Company shall not be required: (i) to transfer on its books any common
shares that have been sold or otherwise transferred in violation of any of the provisions of this
Agreement, or (ii) to treat as owner of such common shares or to accord the right to vote or pay
dividends to any purchaser or other transferee to whom such shares shall have been so transferred.

     5.6 Notices. Any notice to be given under the terms of this Agreement to the
Company shall be addressed to the Company in care of the Secretary of the Company, and any notice
to be given to Holder shall be addressed to Holder at the address given beneath Holder’s signature
on the Grant Notice. By a notice given pursuant to this Section 5.6, either party may hereafter
designate a different address for notices to be given to that party. Any notice shall be deemed
duly given when sent via email or when sent by certified mail (return receipt requested) and
deposited (with postage prepaid) in a post office or branch post office regularly maintained by the
United States Postal Service.

     5.7 Titles. Titles are provided herein for convenience only and are not to serve
as a basis for interpretation or construction of this Agreement.

     5.8 Governing Law; Severability. This Agreement shall be administered,
interpreted and enforced under the laws of the State of Ohio without regard to conflicts of laws
thereof. Should any provision of this Agreement be determined by a court of law to be illegal or
unenforceable, the other provisions shall nevertheless remain effective and shall remain
enforceable.

 

 

     5.9 Conformity to Securities Laws. Holder acknowledges that the Plan is intended
to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act
and any and all regulations and rules promulgated by the Securities and Exchange Commission
thereunder, and state securities laws and regulations. Notwithstanding anything herein to the
contrary, the Plan shall be administered, and the Shares are to be issued, only in such a manner as
to conform to such laws, rules and regulations. To the extent permitted by applicable law, the Plan
and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules
and regulations.

     5.10 Amendments. This Agreement may not be modified, amended or terminated except
by an instrument in writing, signed by Holder and by a duly authorized representative of the
Company.

     5.11 No Employment Rights. If Holder is an Employee, nothing in the Plan or this
Agreement shall confer upon Holder any right to continue in the employ of the Company or any
Subsidiary or shall interfere with or restrict in any way the rights of the Company and its
Subsidiaries, which are expressly reserved, to discharge Holder at any time for any reason
whatsoever, with or without cause, except to the extent expressly provided otherwise in a written
agreement between the Company and Holder.

     5.12 Successors and Assigns. The Company may assign any of its rights under this
Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the
successors and assigns of the Company. Subject to the restrictions on transfer herein set forth,
this Agreement shall be binding upon Holder and his or her heirs, executors, administrators,
successors and assigns.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00135-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00135-of-00352.parquet"}]]