Document:

PREFERRED STOCK REPURCHASE AGREEMENT

 

This PREFERRED STOCK
REPURCHASE AGREEMENT (this “Agreement” ) is entered into as of July 31, 2012, by and among (i) ABSOLUTE LIFE SOLUTIONS,
INC., a Nevada corporation (the “Company”), and (ii) each of the holders of the Company’s outstanding preferred
stock, as listed on Schedule I hereto (each, a “Holder” and collectively, the “Holders”).

 

The term “Party”
as used herein means each of (i) the Company and (ii) each Holder.

 

Each of the Holders
holds the number of shares of the Company’s Series A 12.5% Convertible Preferred Stock (“Series A Stock” or “Preferred
Stock”) or Series B 12.5% Convertible Preferred Stock (“Series B Stock” or “Preferred Stock”) as
listed in Schedule I. Such shares were originally issued to the Holder pursuant to one or more Securities Purchase Agreements (each
a “Securities Purchase Agreement”) between the Company and the relevant Holder. Some of the Holders of the Company’s
Series B Stock were issued those shares pursuant to the terms of a Securities Exchange Agreement, dated as of April 7, 2011, with
the Company (the “Exchange Agreement”), pursuant to which such Holders exchanged the shares of Series A Stock held
by them for such Series B Stock.

 

In connection with
the closing of the relevant Securities Purchase Agreement and/or Exchange Agreement, as the case may be, the Company issued certain
warrants to purchase the Company’s common stock (“Common Stock”) to the Holders (each such warrant, a “Holder’s
Warrant” and collectively, the “Warrants”). The aggregate number of shares of all Holder’s Warrants held
by each Holder is specified on Schedule I.

 

The term “Transaction
Agreements” as used herein means, as may be relevant in each instance, each of the Securities Purchase Agreements, each of
the Exchange Agreements and each of the agreements, instruments and documents referred to in any of the foregoing, in each case
as may have been amended or modified by written agreement of the Company and the Holder prior to the date hereof or as may have
been subject to any consent, waiver or modification agreed to in writing by the Company and the Holder prior to the date hereof.
Capitalized terms not otherwise defined herein have the meanings ascribed to them in the relevant Transaction Agreements.

 

Each of the Holders
desires to sell to the Company, and the Company desires to purchase from each Holder, all of the Preferred Stock of the Holder
listed on Schedule I (for each Holder, the “Holder’s Sold Shares” and collectively, the “Sold Shares”)
on the terms and conditions provided herein.

 

NOW, THEREFORE, in
consideration of the premises and the mutual agreements hereinafter set forth, each of the Parties hereby agrees as follows:

 

1.          Stock
Purchase; Warrant Cancellation. At the Closing (as defined below), subject to the terms and conditions contained herein,
the Company shall purchase from the Holder, and the Holder shall sell to the Company, the Holder’s Sold Shares for the
purchase price (for each Holder, the “Holder’s Purchase Price” and collectively, the “Purchase
Price”) equal to the number of the Holder’s Sold Shares multiplied by $1,000.00. Effective as of the Closing,
each Holder’s Warrant will be canceled. Each Holder acknowledges that the Holder’s Purchase Price does not
include any redemption or other premium on the stated value of the Holder’s shares of Preferred Stock and each Holder
hereby waives, to the fullest extent possible, any claim to any such premium (howsoever denominated).

 

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2.          Closing.
The closing of the transactions contemplated by this Agreement (the “Closing”) shall take place at the offices of the
Company, 45 Broadway, 6th Floor, New York, NY, on July 31, 2012 or such other date agreed to by the Parties (the “Closing
Date”).

 

3.          Representations
and Warranties of Each Holder. Each Holder, for itself and not for any other Holder, represents and warrants to the Company
as of the date hereof that:

 

(a) The Holder is the
record and beneficial owner of the Holder’s Sold Shares and each Holder’s Warrant. The Holder has full right, power
and authority to transfer and deliver to the Company record ownership of the Holder’s Sold Shares. The Holder has not, directly
or indirectly, granted any option, warrant or other right to any person (other than the Company) to acquire any of the Holder’s
Sold Shares or any of the Holder’s Warrant, and there are no liens, pledges, encumbrances or claims of others to such Holder’s
Sold Shares or Holder’s Warrant.

 

(b) The Holder has
full power and authority to execute and deliver this Agreement and to perform its obligations hereunder. If the Holder is an entity,
the execution and delivery of this Agreement by the Holder and the performance of its obligations hereunder have been duly and
properly authorized by all necessary corporate or other entity action on the part of the Holder, and no other corporate or other
entity action or approval by the Holder is necessary for the execution, delivery or performance of this Agreement by the Holder.
Assuming due execution and delivery of this Agreement by the Company, this Agreement constitutes the valid and legally binding
obligation of the Holder, enforceable against it in accordance with its terms and conditions.

 

(c) In formulating
its decision to enter into, and to consummate the transactions contemplated by, this Agreement, the Holder has had the opportunity
to ask questions and receive answers from the Company concerning the Company and its business and prospects, and the Holder has
been permitted to have access to all information which it has requested to evaluate the merits and risks of the sale of the Holder’s
Sold Shares hereunder.

 

(d) The Holder
is (i) a sophisticated investor, with such knowledge and experience in financial and business matters to be capable on the
Holder’s own or together with Holder’s own professional advisors of evaluating the merits and risks of the
transactions contemplated by this Agreement, (ii) experienced in making and disposing of investments of the kind described in
this Agreement, and (iii) able, by reason of the business and financial experience of its officers (if an entity) and
professional advisors), to protect its own interests in connection with the transactions described in this Agreement, and the
related documents, and to evaluate the merits and risks of such transactions.

 

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4.          Representations,
Warranties and Covenants of the Company. The Company represents, warrants and covenants to each Holder as of the date hereof
that:

 

(a) The Company has
full power and authority to execute and deliver this Agreement and to perform its obligations hereunder. The execution and delivery
of this Agreement by the Company and the performance of its obligations hereunder have been duly and properly authorized by all
necessary corporate action on the part of the Company, and no other corporate action or approval by the Company is necessary for
the execution, delivery or performance of this Agreement by the Company. Assuming due execution and delivery of this Agreement
by all of the Holders, this Agreement constitutes the valid and legally binding obligation of the Company, enforceable against
it in accordance with its terms and conditions.

 

(b) Neither the execution
and delivery of this Agreement nor the consummation of the transactions contemplated by this Agreement will (i) conflict with or
constitute on the part of the Company a breach of or default (or an event which, with notice or lapse of time or both, would constitute
a default) or give rise to any right of termination, amendment, cancellation or acceleration under (A) its articles of incorporation,
as amended; (B) its bylaws, as amended; or (C) any loan or credit agreement, note, bond, mortgage, indenture, lease, permit, concession,
franchise, license, contract, agreement or other instrument, arrangement, understanding or obligation to which the Company or any
of its subsidiaries is a party or by which any of them or any of their properties or assets may be bound, including, without limitation,
any insurance policy owned by the Company, (ii) contravene any applicable federal or state law, rule or regulation, or any order,
writ, judgment, injunction, decree, determination or award against the Company or any of its properties or assets, or (iii) require
the authorization, consent, approval or license of any third party or governmental entity that has not been obtained.

 

(c)          (i) All dividends or interest
payments accrued on the Holder’s Sold Shares through June 30, 2012 (the “Latest Dividend Date”) pursuant to the
Certificate of Designations (as applicable for the Series of Preferred Stock held by the Holder) have been paid in full to date.
For purposes of the preceding sentence, the phrase “have been paid in full” shall be deemed to include the payment
of dividends or interest which have been paid by the Company’s declaration that such dividends or interest are to be paid
in shares of the Company’s Common Stock, whether or not the certificates representing such shares have been issued by the
Company’s transfer agent (provided, if such certificates have not yet been issued, the Company has given the transfer agent
instructions for the issuance of such certificates).

 

(ii) After the Closing
Date, the Company will pay all dividends or interest accruing on the Holder’s Sold Shares after the Latest Dividend Date
through the Closing Date. Such dividends will be paid by the Company’s declaration that such dividends or interest are to
be paid in shares of the Company’s Common Stock, and the Company will given the Company’s transfer agent instructions
for the issuance of certificates representing such shares.

 

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(iii) Any of the stock
certificates to be issued to the Holder in payment of dividends or interest, as contemplated by the immediately preceding clauses
(i) and (ii), may contain restrictive legends similar to the legend appearing on the certificates representing the Holder’s
Sold Shares.

 

5.          Other
Agreements of the Holders. In addition to the transfer of the Holder’s Sold Shares to the Company, each Holder hereby
agrees, to the extent relevant to such Holder, that, effective as of the Closing:

 

(a) All Holder’s
Warrants are canceled in their entirety.

 

(b) All rights currently
held by the Holder with respect to the registration of any shares of the Company’s Common Stock, whether included in a Registration
Rights Agreement (howsoever denominated) or otherwise, are canceled. In furtherance of the foregoing, and not in limitation thereof,
(x) the Holder acknowledges that such cancellation applies to any shares of Common Stock previously issued to the Holder on account
of accrued dividends on the Holder’s Sold Shares, and (y) any such Registration Rights Agreement to which the Holder is a
party is terminated in its entirety and the Holder waives, to the fullest extent possible, any claim to any amounts which may be
due and owing from the Company to the Holder under any such Registration Rights Agreement, including, but not necessarily limited
to, any liquidated damages or other fees contemplated therein.

 

(c) Except for payment
of the Holder’s Purchase Price in the manner provided herein, the Holder waives any claims to any amounts due to the Holder
under any provision of any of the Transaction Agreements.

 

(d) To the extent necessary
or relevant, the Holder consents to the Company’s purchase of the Sold Shares of all other Holders and to the contemporaneous
grant of a security interest in up to all of the assets of the Company (which security interest may be granted directly by the
Company and/or indirectly by any of its directly or indirectly wholly owned subsidiaries to which the Company transferred such
assets) in connection with a loan transaction made by the Company or any of its directly or indirectly wholly owned subsidiaries.

 

6.          Parties'
Conditions to Closing.

 

(a) Conditions
Precedent to the Company’s Obligations. The Company’s obligation to consummate the transactions contemplated
hereby is subject to the satisfaction of each of the following conditions: (i) this Agreement is executed and delivered by
the Holder and each of the other Holders and acknowledged and accepted by the Agent (as defined below); (ii) the
representations and warranties by each Holder set forth in Section 3 must have been accurate and complete in all material
respects on the date hereof and must be accurate and complete in all material respects on the Closing Date (as though made
then, with the Closing Date substituted for the date hereof unless the context requires otherwise); (iii) each Holder must
have made each of the deliveries it is required to make under the provisions of this Agreement; and (iv) there must not be
issued and in effect any order restraining or prohibiting the transactions contemplated hereby or any pending or threatened
action by or before any governmental body or arbitrator which seeks to restrain, prohibit or invalidate the transactions
contemplated hereby, or which, in the Company' s reasonable judgment, makes it inadvisable to proceed with the transactions
contemplated hereby.

 

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(b) Conditions Precedent
to Each Holder’s Obligations. Each Holder’s obligation to consummate the transactions contemplated hereby is subject
to the satisfaction of each of the following conditions: (i) this Agreement is executed and delivered by the Company and each of
the other Holders; (ii) the representations and warranties by the Company set forth in Section 4 must have been accurate and complete
in all material respects on the date hereof and must be accurate and complete on the Closing Date (as though made then, with the
Closing Date substituted for the date hereof unless the context requires otherwise); (iii) the Company must have made each of the
deliveries it is required to make under the provisions of this Agreement; and (iv) there must not be issued and in effect any order
restraining or prohibiting the transactions contemplated hereby or any pending or threatened action by or before any governmental
body or arbitrator which seeks to restrain, prohibit or invalidate the transactions contemplated hereby, or which, in the Holder’s
reasonable judgment, makes it inadvisable to proceed with the transactions contemplated hereby.

 

7.          Parties'
Obligations at Closing.

 

(a) At the Closing,
each of the Parties shall deliver an executed counterpart of this Agreement.

 

(b) At the Closing,

 

(x) The Company
shall deliver the Purchase Price in cash, certified check or electronic funds to Platinum Partners Value Arbitrage Fund, L.P. (the
“Agent”), as agent for each of the Holders; provided, however, that if a Holder is obligated to make a term loan advance
to the Company (a “Holder Payment”) pursuant to that certain Revolving Credit, Term Loan and Security Agreement, dated
as of the date hereof, to which the Company, each of the lenders named therein (including the Holder) and the Agent, as agent for
each of the lenders, then the Holder’s Purchase Price shall be set off against such Holder Payment, and the Agent shall deliver
an acknowledgment of such set off and that such set off represents payment of the Purchase Price; and in furtherance of the foregoing,
each Holder hereby designates and authorizes the Agent to act in such capacity, including to accept funds or to issue such acknowledgment
in the name and on behalf of the Holder.

 

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(y) The Holder
shall deliver to the Company (i) (1) the original certificate(s) for the Holder’s Sold Shares, duly endorsed for transfer
or accompanied by stock powers duly endorsed in blank or, (2) with respect to any certificate(s) not available for delivery, a
completed and executed Affidavit of Lost Certificate and Indemnity, in form reasonably acceptable to the Company, accompanied by
stock powers duly endorsed in blank, and (ii) (1) the original Holder’s Warrant(s), or, (2) with respect to any original
Holder’s Warrant(s) not available for delivery, a completed and executed Affidavit of Lost Warrant and Indemnity, in form
reasonably acceptable to the Company (all such deliveries under this clause (y), the “Holder’s Deliveries”).

 

In the event a Holder fails to deliver
the Holder’s Deliveries at Closing as required by clause (y) above, (A) the Closing shall nevertheless be deemed to have
occurred, the Holder’s Sold Shares shall be deemed transferred to the Company and the Holder’s Warrants shall be deemed
canceled and (B) the Holder shall thereafter be obligated to make the Holder’s Deliveries within __ business days of the
Closing.

 

8.          Further
Assurances. If any further action is necessary or reasonably desirable to carry out this Agreement' s purposes, each Party
will take such further action (including but not limited to executing and delivering any further instruments and documents and
providing any reasonably requested information) as any other Party reasonably may request.

 

9.          Governing
Law; Miscellaneous.

 

(a) This Agreement
shall be governed by and interpreted in accordance with the laws of the State of New York for contracts to be wholly performed
in such state and without giving effect to the principles thereof regarding the conflict of laws. Each of the Parties consents
to the exclusive jurisdiction of the federal courts whose districts encompass any part of the County of New York or the state courts
of the State of New York sitting in the County of New York in connection with any dispute arising under this Agreement and hereby
waives, to the maximum extent permitted by law, any objection, including any objection based on forum non conveniens, to
the bringing of any such proceeding in such jurisdictions or to any claim that such venue of the suit, action or proceeding is
improper. Nothing in this Section shall affect or limit any right to serve process in any other manner permitted by law.

 

(b) JURY TRIAL WAIVER.
The Company and the Holder hereby waive a trial by jury in any action, proceeding or counterclaim brought by either of the Parties
hereto against the other in respect of any matter arising out or in connection with the Transaction Agreements.

 

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(c) Failure of any
party to exercise any right or remedy under this Agreement or otherwise, or delay by a party in exercising such right or remedy,
shall not operate as a waiver thereof.

 

(d) This Agreement
shall inure to the benefit of and be binding upon the successors and assigns of each of the parties hereto. No Party may assign
either this Agreement or any of their rights, interests or obligations hereunder without the prior written approval of the other
Party.

 

(e) All pronouns and
any variations thereof refer to the masculine, feminine or neuter, singular or plural, as the context may require.

 

(f) This Agreement
may be signed in one or more counterparts, each of which shall be deemed an original. A facsimile or other electronic transmission
of this signed Agreement shall be legal and binding on all parties hereto.

 

(g) The headings of
this Agreement are for convenience of reference and shall not form part of, or affect the interpretation of, this Agreement.

 

(h) If any provision
of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect the
validity or enforceability of the remainder of this Agreement or the validity or enforceability of this Agreement in any other
jurisdiction.

 

(i) This Agreement
may be amended only by an instrument in writing signed by the party to be charged with enforcement thereof.

 

(k) This Agreement
supersedes all prior agreements and understandings among the parties hereto with respect to the subject matter hereof.

 

(l) All dollar amounts
referred to or contemplated by this Agreement shall be deemed to refer to US Dollars, unless otherwise explicitly stated to the
contrary.

 

(m) Each of the Parties
will bear its own costs and expenses relating to the execution of this Agreement and the consummation of the transactions contemplated
thereby.

 

10.          Notices.
Any notice required or permitted hereunder shall be given in writing (unless otherwise specified herein) and shall be deemed effectively
given on the earliest of

 

(a) the date
delivered, if delivered by personal delivery as against written receipt therefor or by confirmed facsimile transmission,

 

(b) the fifth
Trading Day after deposit, postage prepaid, in the United States Postal Service by registered or certified mail, or

 

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(c) the third
Trading Day after mailing by domestic or international express courier, with delivery costs and fees prepaid,

 

in each case, addressed to each of the
other parties thereunto entitled at the following addresses (or at such other addresses as such party may designate by ten (10)
days’ advance written notice similarly given to each of the other parties hereto):

 

		COMPANY:	45 Broadway, Sixth Floor

New York, NY 10006

Attn: Chief Executive Officer

 

		HOLDER:	See Schedule II attached to this Agreement.

 

[Balance of Page Intentionally Left Blank/Signature
Page Follows]

 

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IN WITNESS WHEREOF,
each of the Parties and the Agent has caused this Agreement to be duly executed on its behalf (if an entity, by one of its officers
or other signatories thereunto duly authorized) as of the date first above written.

 

 

COMPANY:

ABSOLUTE LIFE SOLUTIONS, INC.

 

 

By: _____________________________

Name and Title: ___________________

 

 

 

HOLDERS:

[see following page]

 

 

 

 

AGENT:

Acknowledged and accepted

PLATINUM PARTNERS VALUE ARBITRAGE FUND, L.P., as Agent

 

 

By: _____________________________

Name and Title: ___________________

 

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HOLDERS:

 

	
        Credit Strategies LLC (f/k/a Centurion Credit Strategies, LLC)

 

         

        By: __________________________

        Name & Title: _____________________
	
        Platinum Partners Value Arbitrage Fund, LP

         

         

        By: __________________________

        Name & Title: _____________________

	
        Platinum Partners Liquid Opportunity Master Fund LP

 

         

        By: __________________________

        Name & Title: _____________________
	
        Purchase of Stock LLC

         

         

        By: __________________________

        Name & Title: _____________________

	
        Ahavas Yisroel Charitable Foundation

         

        By: __________________________

        Name & Title: _____________________
	
         

         

        _____________________________

        Gertrude Nieberg

	
        Pee & En LLC

         

        By: __________________________

        Name & Title: _____________________
	
        Sarmei, LLC

         

        By: __________________________

        Name & Title: _____________________

	
         

         

        _____________________________

        Chaim Lunger
	
        Lyncrest Consulting, LLC

         

        By: __________________________

        Name & Title: _____________________

	
         

         

        _____________________________

        William Korn
	
        Premier Investment Enterprises, LLC

         

        By: __________________________

        Name & Title: _____________________

	
        BGOTP, LLC

         

        By: __________________________

        Name & Title: _____________________
	
         

         

        _____________________________

        Mordechai Adler

	
         

         

        _____________________________

        Stanley Nieberg
	
         

         

        _____________________________

        Edwin Ting

	
        S. Nieberg Trading, LLC

         

        By: __________________________

        Name & Title: _____________________
	
        1544 Management LLC

         

        By: __________________________

        Name & Title: _____________________Exhibit 10.1 – Form of Stock Option Agreement

 

STOCK OPTION AGREEMENT

 

THIS STOCK OPTION
AGREEMENT (the “Agreement”) is made on this 27th day of July, 2012 (the “Date of Grant”) between
Symmetry Medical Inc., a Delaware corporation (the “Company”), and Thomas J. Sullivan (“Grantee”).

 

WHEREAS, the Grantee
is a senior executive of the Company whose continued employment and high achievement have the ability to impact the Company’s
performance; and

 

WHEREAS, the grant
of options to purchase shares of common stock pursuant to the Company’s Amended and Restated 2004 Equity Incentive Plan,
as amended from time to time by the Company’s shareholders (the “Plan”) to the Grantee under the terms hereof
has been approved by the Compensation Committee (the “Committee”) and Board of Directors (the “Board”).

 

NOW, THEREFORE, pursuant
to the Plan, the Company hereby grants to Grantee 300,000 options (the “Options”) to purchase shares of Common Stock,
par value $.0001, (“Common Stock”) of the Company effective as of the Date of Grant, subject to the terms and conditions
of the Plan and this Agreement.

 

		1.	Definitions. For the
purposes of this Agreement, the capitalized terms herein shall have the meanings set forth in the Plan unless otherwise set forth
herein.

 

		2.	Option.

 

		a.	Terms.
The Options are for the purchase of up to 300,000 shares of Common Stock (the “Option Shares”) at a price per
share of $7.69 (the “Exercise Price”), payable upon exercise as set forth in paragraph 2(b) below. The Options
shall expire at the close of business on the sixth anniversary of the Date of Grant (the “Expiration Date”),
subject to earlier expiration as provided in paragraph 4 below or upon termination of your employment as provided in paragraph
5(b) below. The Options are not intended to be an “incentive stock option” within the meaning of Section 422 of the
Code.

 

		b.	Payment
of Option Price. Subject to paragraph 3 below, the Options may be exercised in whole or in part upon payment of an amount
(the “Option Price”) in cash (including check, bank draft or money order) equal to the product of: (i) the
Exercise Price multiplied by (ii) the number of Option Shares to be acquired.

 

		3.	Exercisability/Vesting.
The Options may be exercised only to the extent they have become vested. The Options shall vest and become exercisable with respect
to all of the Option Shares on the earlier of the following, if Grantee is employed by the Company on that date:

 

		a.	The
fifth anniversary of the Date of Grant;

 

		b.	The
date of a Change in Control as that term is defined in the Plan;

 

		c.	Grantee’s
death.

 

		4.	Change in Control.
In the event of a Change in Control of the Company as that term is used in the Plan then any unexercised Option shall, in the
discretion of the Committee: (i) be cancelled in consideration for payment to Grantee of an amount equal to the difference between
the price of the Company’s Common Stock at closing on the date of the Change in Control less the aggregate Exercise Price
(with no payment being due if the closing price is lower than the Exercise Price); and/or (ii) remain outstanding and (if appropriate
under the circumstances) be adjusted pursuant to paragraph 12 below.

 

    	 

    	 	

    
 

		5.	Expiration of Option.

 

		a.	Normal
Expiration. In no event shall any or all of the Options be exercisable after the Expiration Date set forth in paragraph 2(a)
above.

 

		b.	Early
Expiration Upon Termination of Employment. Any Option that is not vested and exercisable on the date Grantee’s employment
with the Company terminates shall expire and be forfeited on such date, and any portion of the Options that were vested and exercisable
on the date Grantee’s employment with the Company terminates shall also expire and be forfeited; provided that: (i) if Grantee
dies or becomes subject to any Disability, the Options shall expire 180 days from the date of death or Disability, but in no event
after the Expiration Date, (ii) if Grantee retires (with the approval of the Committee or the Board), the portion of the Options
that are vested and exercisable shall expire 90 days from the date of retirement, but in no event after the Expiration Date, and
(iii) if Grantee is discharged other than for Cause, the portion of the Options that are vested and exercisable shall expire 30
days from the date of discharge, but in no event after the Expiration Date.

 

		6.	Procedure for Exercise.
Grantee may exercise all or any portion of the Options, to the extent they have vested and are outstanding, at any time and from
time to time prior to their expiration, by delivering written notice to the Company (to the attention of the Company’s Secretary),
together with payment of the Option Price in accordance with the provisions of paragraph 2(b) above. As a condition to any exercise
of any Options, Grantee shall permit the Company to deliver to him all financial and other information regarding the Company it
believes necessary to enable Grantee to make an informed investment decision, and Grantee shall make all customary investment
representations which the Company requires.

 

		7.	Securities Laws Restrictions
and Other Restrictions on Transfer of Option Shares. Grantee represents that the Options are exercised to purchase the Option
Shares for Grantee’s own account and not on behalf of others. Grantee understands and acknowledges that federal and state
securities laws govern and restrict his right to offer, sell or otherwise dispose of any Option Shares unless the offer, sale
or other disposition thereof is registered under the Securities Act and state securities laws, or in the opinion of the Company’s
counsel, such offer, sale or other disposition is exempt from registration or qualification thereunder. Grantee agrees that he
shall not offer, sell or otherwise dispose of any Option Shares in any manner which would: (i) require the Company to file any
registration statement with the Securities and Exchange Commission (or any similar filing under state law) or to amend or supplement
any such filing or (ii) violate or cause the Company to violate the Securities Act, the rules and regulations promulgated thereunder
or any other state or federal law. Grantee further understands that the certificates for any Option Shares acquired through exercise
of the Options shall bear such legends as the Company deems necessary or desirable in connection with the Securities Act or other
rules, regulations or laws.

 

		8.	Non-Transferability
of Options. The Options are personal and not transferable other than by will or the laws of descent and distribution. During
Grantee’s lifetime only Grantee (or his guardian or legal representative) may exercise the Options. In the event of Grantee’s
death, the Options may be exercised only by the executor or administrator of Grantee’s estate or the person or persons to
whom rights under the Options shall pass by will or the laws of descent and distribution.

 

    	 

    	 	

    
 

		9.	Conformity with Plan.
The Options are intended to conform in all respects with, and is subject to all applicable terms, conditions and provisions of,
the Plan (which is incorporated in its entirety herein by reference). Inconsistencies between this Agreement and the Plan shall
be resolved in accordance with the terms of the Plan. By executing and returning the enclosed copy of this Agreement, Grantee
acknowledges receipt of this Agreement and the Plan and agrees to be bound by all of the terms of this Agreement and the Plan.

 

		10.	Rights of Participants.
Nothing in this Agreement shall interfere with or limit in any way the rights of Grantee and the Company as set forth in Grantee’s
Contract of Employment and Executive Benefit Agreement, as entered into on or about January 17, 2011 and as subsequently modified
or amended (the “Employment Agreements”), nor confer upon Grantee any right to continue in the employ of the Company
for any period of time or to continue Grantee’s present (or any other) rate of compensation, and in the event of termination
of employment (including, but not limited to, termination by the Company without Cause) any portion of the Options that were not
previously vested and exercisable shall be forfeited, except as set forth in Section 5(b). Nothing in the Plan or this Agreement
shall provide for any adjustment to the number of Option Shares subject to Grantee’s Options upon the occurrence of subsequent
events except as provided in paragraph 12 below.

 

		11.	Withholding of Taxes.
The Company shall be entitled, if necessary or desirable, to withhold any amounts due and payable by the Company to Grantee (or
secure payment from Grantee in lieu of withholding) the amount of any withholding or other tax due from the Company with respect
to any Option Shares issuable under the Plan, and the Company may defer such issuance unless indemnified to its satisfaction.

 

		12.	Adjustments.
In the event of a reorganization, recapitalization, stock dividend or stock split, or combination or other change in the shares
of Common Stock, the Board or the Committee may, in order to prevent the dilution or enlargement of rights under the Options,
make such adjustments in the number and type of shares authorized by the Plan, the number and type of shares covered by the Options
and the Exercise Price specified herein, in each case as may be determined by the Board or the Committee to be appropriate and
equitable. Under no circumstances shall the Options be repriced or lowered except in the instance of a stock split where it is
modified to reflect the same ratio of Exercise Price the post-split price.

 

		13.	Additional Restrictions
on Transfer.

 

		a.	Restrictive
Legend. If required by the Company’s Secretary, the certificates representing the Option Shares shall bear the following
legend:

 

“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE WERE ORIGINALLY ISSUED ON _________, AND MAY NOT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “ACT”), OR UNDER ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION THEREUNDER. THE SECURITIES
REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER, CERTAIN REPURCHASE OPTIONS AND CERTAIN
OTHER AGREEMENTS SET FORTH IN AN OPTION AGREEMENT BETWEEN THE COMPANY AND THOMAS J. SULLIVAN DATED AS OF JULY 27, 2012, A COPY
OF WHICH MAY BE OBTAINED BY THE HOLDER HEREOF AT THE COMPANY’S PRINCIPAL PLACE OF BUSINESS WITHOUT CHARGE.”

 

    	 

    	 	

    
 

		b.	Opinion
of Counsel. Grantee may not sell, transfer or dispose of any Option Shares (except pursuant to an effective registration statement
under the Securities Act) without first delivering to the Company an opinion of counsel reasonably acceptable in form and substance
to the Company that registration under the Securities Act or any applicable state securities law is not required in connection
with such transfer.

 

		14.	Remedies. The
parties hereto shall be entitled to enforce their rights under this Agreement specifically, to recover damages by reason of any
breach of any provision of this Agreement and to exercise all other rights existing in their favor. The parties hereto acknowledge
and agree that money damages would not be an adequate remedy for any breach of the provisions of this Agreement and that any party
hereto may, in its sole discretion, apply to any court of law or equity of competent jurisdiction for specific performance and/or
injunctive relief (without posting bond or other security) in order to enforce or prevent any violation of the provisions of this
Agreement. The prevailing party in any suit or other proceeding to enforce the terms hereof or to cure any breach shall be entitled
to an award of its fees and costs incurred in defending the claim or enforcing this Agreement.

 

		15.	Amendment. Except
as otherwise provided herein, any provision of this Agreement may be amended or waived only with the prior written consent of
Grantee and the Company, which consent shall not be unreasonably denied, withheld or conditioned.

 

		16.	Successors and Assigns.
Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or on behalf of any
of the parties hereto shall bind and inure to the benefit of the respective successors and permitted assigns of the parties hereto
whether so expressed or not.

 

		17.	Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held by a court of competent jurisdiction to be prohibited by or invalid under
applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating
the remainder of this Agreement.

 

		18.	Counterparts.
This Agreement may be executed simultaneously in two or more counterparts, each of which shall constitute an original, but all
of which taken together shall constitute one and the same Agreement.

 

		19.	Descriptive Headings.
The descriptive headings of this Agreement are inserted for convenience only and do not constitute a part of this Agreement.

 

		20.	Governing Law.
The corporate law of the State of Delaware shall govern all questions concerning the relative rights of the Company and its stockholders.
All other questions concerning the construction, validity and interpretation of this Agreement shall be governed by the internal
law, and not the law of conflicts, of the state of Indiana. Any suit brought to enforce the provisions of this Agreement or cure
any breach hereof shall be venued only in the federal courts for the state of Indiana, and the parties hereby irrevocably consent
to the exclusive jurisdiction of such courts over any dispute between them regarding this Agreement or the Options.

 

    	 

    	 	

    
 

		21.	Notices. All
notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement shall
be in writing and shall be deemed to have been given when delivered personally or mailed by certified or registered mail, return
receipt requested and postage prepaid, to the recipient. Such notices, demands and other communications shall be sent to Grantee
and to the Company at the addresses indicated below:

 

If
to the Grantee:

 

64 Petit Place

Princeton, NJ 08540

 

If
to the Company:

 

Symmetry Medical Inc.

3894 New Vision Dr.

Ft. Wayne, IN 46845

Attention: General Counsel

With a copy to Chief Financial Officer

 

or to such other address or
to the attention of such other person as the recipient party has specified by prior written notice to the sending party.

 

		22.	Rule 701 Compensation.
The parties acknowledge and agree that this Agreement has been executed and delivered, and the Options have been granted hereunder,
in connection with and as a part of the compensation and incentive arrangements between the Company and Grantee. The grant of
the Options hereunder and any issuance of Option Shares upon exercise of the Options are intended to qualify as an exempt offering
under Rule 701 of the Securities Act.

 

		23.	Entire Agreement.
This Agreement constitutes the entire understanding between Grantee and the Company, and supersedes all other agreements, whether
written or oral, with respect to the subject matter hereof, although does not impact the Employment Agreement except as specifically
noted herein.

 

By signing the below the parties agree to be bound by the terms
of this Agreement.

 

 

	SYMMETRY MEDICAL INC.	 	 	THOMAS J. SULLIVAN	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:	 	 	 	 	 
	Name:	 	 	 	 	 
	Title:

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