Document:

EXHIBIT 10.3

DATE

__________________________________________

BETWEEN:

BIOJECT
MEDICAL TECHNOLOGIES INC.

AND:

DIRECTOR

__________________________________________

A
BIOJECT DIRECTOR

RESTRICTED
STOCK UNIT AGREEMENT

AND
NOTICE OF GRANT

__________________________________________

   
 
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BIOJECT RESTRICTED STOCK UNIT GRANT AGREEMENT

AND NOTICE OF GRANT

This
BIOJECT RESTRICTED STOCK UNIT GRANT AGREEMENT AND NOTICE OF GRANT (this “Agreement”)
is made as of the XX of XXX, 2006 (the “Effective Date”). Capitalized Terms used in this Agreement, if
not otherwise defined, have the meanings given them in the Restated 1992
Stock Incentive Plan, as amended September 13, 2001, March 13, 2003, April 11
and April 26, 2005 (the “Plan”).

BETWEEN:

BIOJECT MEDICAL TECHNOLOGIES INC.

20245 SW 95th Avenue

Tualatin,
Oregon  97062                                                                                                      (“Company”)

AND:

NAME                                                                                                                                   (“Participant”)

WHEREAS, pursuant to Section 10 of the Plan, the
Participant, as a non-employee director of the Company, is entitled to receive
a Restricted Stock Unit Award; and

WHEREAS, the
Restricted Stock Unit Award provided in this Agreement is offered in
consideration for the Participant’s service with the Company, and the
Participant is willing to abide by the obligations imposed under this
Agreement;

NOW, THEREFORE, in
consideration of the mutual benefits hereinafter provided, and each intending
to be legally bound, the Company and the Participant hereby agree as follows:

1.                                       Grant Of Restricted Stock Units; Acceptance.

(a)           Subject
to the restrictions, terms and conditions of the Plan and this Agreement, the
Company hereby awards to the Participant XXX Restricted Stock Units (the “Award”)
with each unit representing the unsecured right to receive one share of the
Company’s Common Stock. These units are awarded for Board participation based
upon the schedule in Appendix A.

(b)           The
grant of Restricted Stock Units shall be null and void unless the Participant
shall accept this Agreement by executing it in the space provided below and
returning it to the Company.

2.                                       Delivery of Certificates.

(a)           Subject to Section 6, the Company shall issue
to the Participant a stock certificate representing a number of shares of
Common Stock equal to the number of vested Restricted Stock Units credited to
Participant under this Agreement on the date such Restricted Stock Units vest
pursuant to Section 3 (the “Issuance Date”). The Company shall not be
required to issue fractional shares of Common Stock upon settlement of the
Award.

(b)           The
Participant shall have no direct or secured claim in any specific assets of the
Company or the shares of Common Stock to be issued on the Issuance Date and
will have the status of a general unsecured creditor of the Company.

   
 
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3.             Vesting and Forfeiture.

(a)           Vesting Schedule-Award.
 Subject to the limitations contained
herein, the Restricted Stock Units shall vest as follows:

The restricted stock units will vest with respect to
half of the subject shares six months after the grant date, with the remaining
shares to vest on the anniversary of the grant date.

Any Restricted Stock Units that do not vest for any
reason, for example, a service date is not reached, will be forfeited to the
Company and will again be available for issuance under the Plan.

(b)           Vesting Schedule-Change
in Control Units.

In the event there is a Change in Control Event as
defined in IRS Notice 2005-1 or any successor regulation, the Award
shall be deemed earned and 100% vested on the effective date of the Change in
Control Event.

A “Change in
Control Event” is defined for purposes of this Agreement as any of the
following events:

(i)            The approval by the shareholders of
the Company of:

(A)          any consolidation, merger or plan of
share exchange involving the Company (a “Merger”) as a result of which the
holders of outstanding securities of the Company ordinarily having the right to
vote for the election of directors (“Voting Securities”) immediately prior to
the Merger do not continue to hold at least 50% of the combined voting power of
the outstanding Voting Securities of the surviving or continuing corporation immediately
after the Merger, disregarding any Voting Securities issued or retained by such
holders in respect of securities of any other party to the Merger;

(B)           any sale, lease, exchange or other
transfer (in one transaction or a series of related transactions) of all, or
substantially all, the assets of the Company; or

(C)           the adoption of any plan or proposal
for the liquidation or dissolution of the Company; or

(ii)                                  Any
“person” or “group” (within the meaning of Sections 13(d) and 14(d)(2) of
the Securities Exchange Act of 1934, as amended (the “Act”)) shall, as a result
of a tender or exchange offer, open market purchases or privately negotiated
purchases from anyone other than the Company, have become the beneficial owner
(within the meaning of Rule 13d-3 under the Act), directly or
indirectly, of Voting Securities representing fifty percent (50%) or more of
the combined voting power of the then outstanding Voting Securities.

(c)           Forfeiture.
As of the Effective Date, all of the Restricted Stock Units are subject to
forfeiture to the Company, without compensation, upon termination of the
Participant’s service to the Company for any reason. Restricted Stock Units
that have not yet vested and are subject to forfeiture without compensation are
referred to in this Agreement as “Unvested Units.”  Restricted Stock Units that have vested and
are no longer subject to forfeiture without compensation (but remain subject to
the other terms of this Agreement) are referred to in this Agreement as “Vested
Units.”  Notwithstanding anything in this
Agreement to the contrary, no Restricted Stock Units will become Vested Units
after the effective date of termination of the Participant’s service to the
Company (the “Termination Date”). There shall be no proportionate or partial
vesting in the 

   
 
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periods prior to the applicable vesting dates and all
vesting shall occur only on the appropriate vesting date.

(d)           Termination and
Termination Date. In
case of any dispute as to whether the Participant’s service to the Company is
terminated, the Committee shall have sole discretion to determine whether the
Participant’s service to the Company has been terminated and the Termination
Date.

(e)           Adjustments.
If there is any change made in the Common Stock, without the receipt of
consideration by the Company (through merger, consolidation, reorganization,
recapitalization, reincorporation, stock dividend, dividend in property other
than cash, stock split, liquidating dividend, combination of shares, exchange
of shares, change in corporate structure or other transaction not involving the
receipt of consideration by the Company) occurring after the Effective Date, as
described in the Plan, then an adjustment shall be made to this Award so that
on the Issuance Date, the Participant shall receive such securities, cash
and/or other property as would have been received had the Participant held a
number of shares of Common Stock equal to the number of Restricted Stock Units
held by the Participant pursuant to this Award immediately prior to such change
or distribution, and such an adjustment shall be made successively each time
any such change shall occur.

4.             Restrictions on Transfers.

(a)           Restriction on Transfer. Participant shall not sell, assign,
transfer, pledge, hypothecate, or otherwise encumber or dispose of the
Restricted Stock Units that are subject to forfeiture pursuant to Section 3
until the restrictions on such Restricted Stock Units have lapsed or been
removed. Notwithstanding the foregoing, the Participant may transfer Restricted
Stock Units (i) by will or the laws or descent and distribution or (ii) pursuant
to beneficiary designation procedures approved by the Company.

(b)           Transferee Obligations. Each person (other than the Company)
to whom the Restricted Stock Units are transferred, as a condition precedent to
the validity of such transfer, shall acknowledge in writing to the Company that
such person is bound by the provisions of this Agreement to the same extent
such Restricted Stock Units would be so subject if retained by the Participant.

5.                                       Rights as Shareholder. This grant of Restricted Stock Units
does not confer upon the Participant any rights as a shareholder of the Company
(including, without limitation, voting and dividend rights) unless and only to
the extent shares of Common Stock are issued on the Issuance Date. The Company shall
credit the Participant with a number of Restricted Stock Units whose underlying
shares of Common Stock have a fair market value (as determined by the Committee
or the Board of Directors) equal to the dividend paid on each share of Common
Stock, multiplied by the total number of Restricted Stock Units subject to the
Award described in this Agreement. Restricted Stock Units issued in respect of
dividend equivalents shall be subject to the same rules and restrictions
as Restricted Stock Units originally subject to the Award.

6.                                       Withholding Taxes.

(a)           Withholding Tax Payment
Obligations. As a condition precedent to the delivery to the
Participant of any shares of Common Stock subject to the Award, the Participant
shall, upon request by the Company, pay to the Company such amount of cash as
the Company may be required, under all applicable federal, state, local or
other laws or regulations, to withhold and pay over as income or other
withholding taxes (the “Required Tax Payments”) with respect to the Award. If
the Participant shall fail to advance the Required Tax Payments after request
by the Company, the Company may, in its discretion, deduct any Required Tax
Payments from any amount then or thereafter payable by the Company to the
Participant.

   
 
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(b)           Method of Payment. The Participant may elect to satisfy the
obligation to advance the Required Tax Payments by any of the following means: (1) a
cash payment to the Company pursuant to Section 6(a), (2) delivery (either
actual delivery or by attestation procedures established by the Company) to the
Company of previously owned whole shares of Common Stock (which the Participant
has good title, free and clear of all liens and encumbrances) having a fair
market value, determined as of the date the obligation to withhold or pay taxes
first arises in connection with the Award (the “Tax Date”), equal to the
Required Tax Payments, (3) authorizing the Company to withhold from the
shares of Common Stock otherwise to be delivered to the Participant pursuant to
the Award, a number of whole shares of Common Stock having a fair market value,
determined as of the Tax Date, equal to the Required Tax Payments, (4) a
cash payment by a broker-dealer acceptable to the Company through whom the
Participant has sold the shares with respect to which the Required Tax Payments
have arisen, except as prohibited by Section 402 of the Sarbanes-Oxley Act
of 2002 or (5) any combination of (1), (2) and (3). The Committee
shall have sole discretion to disapprove of an election pursuant to any of
clauses (2)-(5). Shares of Common Stock to be delivered or withheld may not
have a fair market value in excess of the minimum amount of the Required Tax
Payments. Any fraction of a share of Common Stock that would be required to
satisfy such an obligation shall be disregarded and the remaining amount due
shall be paid in cash by the Participant. No certificate representing a share
of Common Stock shall be delivered until the Required Tax Payments have been satisfied
in full.

7.                                       Compliance with Laws and Regulations. The issuance and transfer of the
Shares will be subject to and conditioned upon compliance by the Company and
Participant with all applicable state and federal laws and regulations and with
all applicable requirements of any stock exchange or securities market on which
the Company’s Common Stock may be listed at the time of such issuance or
transfer.

8.                                       Successors and Assigns. The Company may assign any of its
rights under this Agreement. This Agreement shall be binding upon and inure to
the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this
Agreement will be binding upon Participant and Participant’s heirs, executors,
administrators, successors and assigns.

9.                                       No Right to Employment. Nothing
contained in this Agreement shall confer upon the Participant any right with
respect to the continuation of the Participant’s office or employment nor shall
anything contained in this Agreement interfere in any way with the right of the
Company to adjust Participant’s compensation from the level in existence at the
time of the grant hereof. Nothing contained in this Agreement shall interfere
in any way with the right of the Company or the Participant to terminate
Participant’s employment with the Company.

10.                                 Laws Applicable to Construction. The interpretation, performance and
enforcement of this Agreement shall be governed by the laws of the State of
Oregon. The parties agree that the forum for resolution of any dispute arising
out of, or relating to, the Agreement shall be by arbitration in Multnomah
County, Oregon in accordance with the provisions of the Arbitration Services of
Portland, Inc. The prevailing party will be entitled to recover from the
other party an amount determined reasonable as attorney fees.

11.                                 Notices. Any notice to be given under the terms of this Agreement shall
be addressed to the Company in care of its President or Secretary at its office
in Portland, Oregon, and any notice to be given to the Participant shall be
addressed to the Participant at the address given on the first page of
this Agreement, or at such other address as either party may hereafter
designate in writing to the other. Any such notice shall have been duly given
when enclosed in a properly sealed envelope addressed as aforesaid, registered
or certified, and deposited (postage and registry or certification fee prepaid)
in a post office branch regularly maintained by the Government of the
jurisdiction in which the notice is mailed.

   
 
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12.                                 Further Instruments. The parties agree to execute such
further instruments and to take such further action as may be reasonably
necessary to carry out the purposes and intent of this Agreement.

13.                                 Headings. The captions and headings of this Agreement are included for
ease of reference only and will be disregarded in interpreting or construing
this Agreement. All references
herein to Sections will refer to Sections of this Agreement.

14.                                 Agreement Subject to Plan. The Award and this Agreement are subject to all the provisions of the Plan, the
provisions of which are hereby made a part of this Agreement, and are further
subject to all interpretations, amendments, rules and regulations which
may from time to time be promulgated and adopted pursuant to the Plan. In the
event of any conflict between the provisions of this Agreement and those of the
Plan, the provisions of the Plan shall control. Participant, by
execution hereof, acknowledges receipt of the Plan and any interpretations, amendments, rules and
regulations adopted pursuant to the Plan as they currently exist and
acceptance of the terms and conditions of the Plan, such interpretations, amendments, rules and
regulations and of this Agreement.

15.                                 Section 409A Compliance. The Award
is intended to comply with the provisions of Section 409A of the Internal
Revenue Code (the “Code”) and will be administered in a manner consistent with
this intent, and, subject to any restrictions imposed by applicable law and any
rules of any stock exchange or market on which the Company’s securities
are listed, the Committee and the Board of Directors of the Company will have
the right to amend this Agreement and the Award to comply with Section 409A
of the Code (which amendment may be retroactive to the extent permitted by Section 409A
of the Code and may be made by the Committee and the Board of Directors of the
Company without the consent of the Participant).

IN
WITNESS WHEREOF, the Company has caused this Agreement to be executed in
duplicate by its duly authorized representative and Participant has executed
this Agreement in duplicate, as of the Execution Date.

BIOJECT MEDICAL TECHNOLOGIES INC.

By:                                                                                                          

Christine
M. Farrell

Vice
President of Finance

PARTICIPANT

                                                                                                                

NAME

SSN

   
 
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Appendix
A

Restricted Stock Units Granted

	
  BOD Meetings Attended (4,000
  max)

  	
   

  	
  4,000

  
	
   

  	
   

  	
   

  
	
  Annual
  Shareholder Meeting

  	
   

  	
  500

  
	
   

  	
   

  	
   

  
	
  Committee
  Attendance (2,000 max)

  	
   

  	
  2,000

  
	
   

  	
   

  	
   

  
	
  Annual Board
  Participation

  	
   

  	
  3,000

  

 

   
 
 7Exhibit 10.1

AMENDMENT NO. 2 TO THE 

SECOND AMENDED AND RESTATED ADVISORY SERVICES AGREEMENT

AMENDMENT NO. 2 to the SECOND AMENDED AND RESTATED
ADVISORY SERVICES AGREEMENT, dated as of May 11, 2006, among SECURITY
CAPITAL CORPORATION, a Delaware corporation (“Security
Capital”), and CAPITAL PARTNERS, INC., a Connecticut corporation (“Capital Partners”). Capitalized terms used but not defined
herein shall have the meanings ascribed to such terms in the Advisory Services
Agreement (as defined below).

W I T N E S S E T H:

WHEREAS, Security Capital and Capital Partners entered
into that certain Second Amended and Restated Advisory Services Agreement,
dated as of December 23, 2005, and effective as of January 1, 2006,
as amended by Amendment No. 1 (as amended, the “Advisory
Services Agreement”), pursuant to which Capital Partners has agreed,
among other things, to continue, from and after January 1, 2006, to
provide advisory services to Security Capital and its subsidiaries in the areas
of investments, general administration, corporate development, strategic
planning, stockholder relations, financial matters and general business policy;

WHEREAS, Security Capital is engaged in a formal sale
process for the Sale of Security Capital in an effort to maximize stockholder
value by seeking for its stockholders the highest price reasonably attainable
for Security Capital; and

WHEREAS, pursuant to the Advisory Services Agreement,
the Board of Directors of Security Capital (the “Board”)
has assigned Capital Partners, and its President and Chief Executive Officer,
the responsibility to manage the
formal sale process; and

WHEREAS, pursuant to the Advisory Services Agreement,
in certain circumstances, upon the consummation of a Sale of Security Capital,
Security Capital is required to pay to Capital Partners an Incentive Sales
Bonus; and

WHEREAS, pursuant to the Advisory Services Agreement,
Capital Partners’ right to receive the Inventive Sales Bonus terminates if a
Sale of Security Capital is not consummated on or before June 30, 2006
(the “Current  Incentive
Sales Bonus Termination Date”); and

WHEREAS, the Board does not expect a Sale of Security
Capital to be consummated on or before the Current Incentive Sales Bonus
Termination Date; and

WHEREAS, the Current Incentive Sales Bonus Termination
Date may be extended beyond June 30, 2006 if a majority of the independent
directors on the Board, in their sole discretion, determine that such Current
Incentive Sales Bonus Termination Date should be so extended; and

WHEREAS, the Compensation Committee of the Board, the
Audit Committee of the Board, and the full Board, a majority of the members of
which are independent directors, have unanimously determined, after considering
all of the facts and circumstances, that the Advisory Services Agreement should
be amended to extend the Current Incentive Sales Bonus 

 

Termination Date to September 30,
2006, and that such amendment is in the best interests of Security Capital and
all of its stockholders; and

WHEREAS, Security Capital and Capital Partners desire
to amend the Advisory Services Agreement to reflect such matters.

NOW, THEREFORE, in consideration of the premises and
for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree, intending to be legally
bound, to amend the Advisory Services Agreement, as follows:

1.             Each reference to “June 30, 2006” in Section 7
of the Advisory Services Agreement is hereby deleted and replaced with “September 30,
2006”.

2.             Except as expressly set forth
herein, this amendment to the Advisory Services Agreement shall not by
implication or otherwise alter, modify, amend or in any way affect any of the
terms, conditions, obligations, covenants or agreements contained in the
Advisory Services Agreement, all of which shall remain in full force and effect.
This amendment may be executed in counterparts, each of which shall be an
original, but all of which together shall constitute one and the same
instrument. This amendment shall be governed by and construed in accordance
with the laws of the State of Connecticut.

[Signature
Page Follows]

 2

 

IN WITNESS WHEREOF, the
parties hereto have caused this amendment to be duly executed as of the date
first above written.

	
  

  	
  SECURITY CAPITAL CORPORATION

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ William R. Schlueter

  
	
   

  	
   

  	
  Name:

  	
  William R. Schlueter

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President, CFO, Assistant

  
	
   

  	
   

  	
   

  	
  Secretary and Treasurer

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  CAPITAL PARTNERS, INC.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brian D. Fitzgerald

  
	
   

  	
   

  	
  Name:

  	
  Brian D. Fitzgerald

  
	
   

  	
   

  	
  Title:

  	
  President

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