Document:

Exhibit 10.65

                              POSITRON CORPORATION
                         1999 STOCK BONUS INCENTIVE PLAN

                                        Date of Board Approval:  October 6, 1999
                                 Date of Shareholder Approval: December 17, 1999

       1.  PURPOSE  AND SCOPE.  Positron  Corporation  ("Company")  adopted  the
Positron  Stock  Bonus  Incentive  Plan (the  "Plan") on October 6, 1999.  It is
effective as of November 1, 1999 for the 1999 Plan year. The purpose of the Plan
is to provide selected employees and outside consultants with stock bonus awards
("Bonus  Shares")  to reward them for past  services  and to  encourage  them to
remain in the Company's service as well as providing the Company with a valuable
tool to recruit  and retain  managers,  employees  and  outside  consultants  of
outstanding ability.

       2.  DEFINITIONS.

           (a) "Bonus  Shares"  means the shares of the  Company's  Common Stock
issuable or issued under the Plan.

           (b)  "Committee"  means the Stock Option  Committee  appointed by the
Company's Board of Directors.

           (c) "Company" means Positron Corporation, a Texas Corporation.

           (d)  "Disability"  means that the  Participant is unable to engage in
any  substantial  gainful  activity  by  reason  of any  medically  determinable
physical or mental  impairment which can be expected to result in death or which
has lasted, or can be expected to last, for a continuous period of not less than
12 months.

           (e)  "Participant"  means  an  employee  who has  been  selected  for
participation in the Plan pursuant to Article 4.

           (f)  "Retirement"  means that the  Participant  has  retired  under a
qualified plan, if any, of the Company or is otherwise deemed to have retired by
the Committee.

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       3.  ADMINISTRATION.  The Plan shall be  administered  by the Stock Option
Committee of the Board of Directors (the "Committee"), which has been authorized
to act on behalf of the Company.  The Committee  shall determine the meaning and
application of the provisions of the Plan. Subject to the terms of the Plan, the
Committee shall have the exclusive authority to act on the following matters:

           (a)  Select  the  employees,  including  officers,  who are to become
Participants;

           (b) Determine each Participant's stock bonus award;

           (c) Waive or change the Plan's condition as it deems appropriate;

           (d) Adopt,  amend or rescind rules,  guidelines and forms relating to
the Plan;

and

           (e) Take any other actions the Committee deems necessary or advisable
for the administration of the Plan.

       All decisions,  interpretations  and other actions of the Committee shall
be final and binding on all  Participants  and all persons deriving their rights
from a Participant. No member of the Committee shall be liable for any action he
or she has taken,  or has failed to take, in good faith with respect to the Plan
or any bonus award.  The Committee may delegate such  ministerial  actions as it
deems necessary or proper.

       4. ELIGIBILITY.  The Participants  shall be selected from time to time by
the Committee from those employees  (including  officers or directors) and those
outside  consultants who, in the opinion of the Committee,  are in a position to
contribute  materially to the attainment of the Company's  financial  objectives
and managerial goals.  Participation may be based on the  recommendations of the
Company's officers,  subject to the Committee's  approval.  Such recommendations
shall include a  recommendation  as to the number of Bonus Shares that should be
awarded to each such  individual.  In  selecting  eligible  participants  and in
determining  the number of Bonus Shares it wishes to award,  the Committee shall
consider the position and responsibility of the eligible participants, the value
of their service to the Company and its subsidiary and such other factors as the
Committee deems pertinent.

       5. BONUS AWARDS.

           (a)  GENERAL.  After  an  employee  or  outside  consultant  has been
selected as a Participant,  the Committee will notify the  Participant of his or
her selection by letter (the "Award  Letter").  The Award Letter will advise the
Participant  of the  number  of Bonus  Shares  awarded.  A  Participant  will be
entitled to receive a maximum bonus  representing  40% of his or her salary,  in
the case of an employee.  The intention of the Plan is to reward the Participant
for helping the Company meet its annual business plan goals through a high level
of  goal  oriented   performance  that  substantially   exceeds  the  day-to-day
responsibilities  expected of the  Participant  and for which (s)he is regularly
paid a salary or consulting fee.

           (b) PAYMENT.  The Committee shall determine the Participant's  actual
stock  bonus  award (if any) and such bonus  shall be awarded  from time to time
within the Committee's

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discretion. To minimize the market impact of the issuance of bonus stock, shares
to be  issued to a  Participant  which are  valued at less than  $3,000  will be
issued as soon as practicable  following the award, and shares to be issued to a
Participant  which are  valued  at $3,000 or more will be issued  within 60 days
thereafter.  Distributions  of Bonus  Shares  may be made  from  authorized  but
unissued shares. All authorized and unissued shares issued as Bonus Shares shall
be fully paid and  nonassessable  shares and free from  preemptive  rights.

           (c) TERMINATION OF SERVICES.  No Participant is eligible to receive a
bonus award  unless  such  Participant  is  employed  by or  actively  providing
services to the Company at the time the Bonus Award is granted.

           (d) DEATH, DISABILITY OR RETIREMENT.  In the event that a Participant
ceases to be an employee or service  provider by reason of death,  disability or
retirement the Committee,  in its sole discretion,  may award a partial bonus to
the  Participant  who  otherwise  would be  eligible  (or,  in the  event of the
Participant's  death, to his or her  Beneficiary).  Payment shall be made to the
Participant  (or his or her Beneficiary as the case may be) according to Article
4(2).

           (e) WITHHOLDING TAXES. Participants shall be obligated to satisfy all
federal and state tax  withholding  obligations  arising from the award of Bonus
Shares.

           (f)  NONTRANSFERABILITY OF RIGHTS. Any right to a stock bonus payment
under  the  Plan  shall  be  nontransferable,  except  that  such  right  may be
transferred to a Beneficiary upon a Participant's  death, as provided in Section
4.4. Any attempted alienation,  assignment,  pledge, hypothecation,  attachment,
execution or similar process, whether voluntary or involuntary,  with respect to
any such right shall be void and, at the  Committee's  option,  shall cause such
right to be forfeited.

       6. STOCK SUBJECT TO THE PLAN. The total number of shares of the
Company's Common Stock ("Common Stock") which may be issued under the Plan shall
not exceed 1,000,000 shares. Provided in no event may the Company make more than
200,000 shares per year  available for issuance  pursuant to bonus awards in any
single  fiscal year of the Company.  The Company  shall,  at all times while the
Plan is in force,  reserve such number of Common shares as will be sufficient to
satisfy the  requirements  of the number of shares  available for issuance under
the Plan.

       In the event the  outstanding  shares of Common  Stock are  increased  or
decreased as a result of any stock split,  stock dividend,  recapitalization  or
other  similar  change in corporate  structure  effected  without the receipt of
consideration,  or if the  Common  Stock  is  converted  into  other  shares  or
securities  of the  Company  or any other  corporation  as a result of a merger,
reorganization, or other similar transaction, then appropriate adjustments shall
be made by the  Committee  to the  class  and/or  number  of  shares  which  are
available  for issuance  under the Plan in order that there shall be no dilution
or  enlargement  of  benefits  hereunder.

       7. Beneficiary  Designations.  Upon commencement of  participation,  each
Participant  will name  beneficiaries  under the plan. If no  beneficiaries  are
named  specifically  for this purpose,  the Company will deem any  beneficiaries
named for Life Insurance  purposes  under the Company's Life Insurance  Plan, if
any, to be beneficiaries named under this Plan. If the

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participant has not named a beneficiary or if none of the named beneficiaries is
living  when any  payment  is to be made,  then (a) the  spouse of the  deceased
Participant  shall be the  beneficiary,  or (b) if the Participant has no spouse
living at the time of such  payment,  the then living  children of the  deceased
Participant  shall  be  the  beneficiaries  in  equal  shares,  or  (c)  if  the
Participant  has neither spouse nor children living at the time of such payment,
the estate of the  Participant  shall be the  beneficiary.  The  Participant may
change the  designation  of a beneficiary  from time to time in accordance  with
procedures established by the Committee. Any designation of a beneficiary (or an
amendment or revocation thereof) will be effective only if it is made in writing
on the prescribed  form and is received by the Company or the Committee prior to
the Participant's death.

       8.  SHAREHOLDER  RIGHTS.  No  Participant  shall  have  any  rights  as a
shareholder  until  such time as any Bonus  Shares are  actually  issued to such
Participant.

       9. NO  EMPLOYMENT  RIGHTS.  No  provision  of the  Plan,  nor  any  bonus
opportunity established under the Plan, will be construed to give any person any
right to remain in the  Company's  service.  The Company  reserves  the right to
terminate any person's service at any time, with or without cause.

       10.  Amendments  Or  Terminations.  The  Company  may  amend,  suspend or
terminate  the Plan at any time and for any reason.  Neither an amendment of the
Plan nor the  termination  thereof  shall  affect  any Bonus  Shares  previously
issued.

       11.  Choice of Law. The Plan shall be construed  in  accordance  with and
governed by the laws of the State of Texas.

                                      -4-EXHIBIT 10.66

                              POSITRON CORPORATION
                        1999 EMPLOYEE STOCK PURCHASE PLAN

                                         Date of Board Approval: October 6, 1999
                                 Date of Shareholder Approval: December 17, 1999

         1. PURPOSE AND SCOPE. This Employee Stock Purchase Plan (the "Plan") is
established to provide  Eligible  Employees with an opportunity  through regular
payroll  deductions  to  purchase  Common  Stock of  Positron  Corporation  (the
"Company") so that they may increase their proprietary  interest in the Company.
The Plan is  intended  to qualify as an  "employee  stock  purchase  plan" under
Section 423 of the Internal Revenue Code.

         2. DEFINITIONS. As used herein, the following definitions shall apply:

            (a)  "Board  of  Directors"  means  the  Committee  if one has  been
appointed,  or the Board of Directors  of the Company if no  Committee  has been
appointed.

            (b) "Code" means the Internal Revenue Code of 1986.

            (c)  "Committee"  means  the  committee  appointed  by the  Board of
Directors  to  administer  the  Plan  in  accordance  with  Section  3  below  -
"Administration" - if one is appointed.

            (d) "Company" means Positron  Corporation and such present or future
Subsidiaries, as defined in Section 425 of the Code, of the Company as the Board
of Directors shall from time to time designate.

            (e)  "Compensation"   means  the  annual  base  rate  of  pay  of  a
Participant as of the first day of an Offering Period,  determined in accordance
with  nondiscriminatory  rules  adopted  by the  Board of  Directors,  including
commissions,  but excluding  income with respect to stock options or other stock
purchases or moving expense reimbursements.

            (f) "Eligible  Employee"  means any regular  employee of the Company
whose  date of hire was at least  six  months  prior to the  commencement  of an
Offering Period or an Interim  Offering  Period and who is customarily  employed
for at least  twenty  (20)  hours per week and more than five (5)  months in any
calendar year.

            (g) "Exchange Act" means the Securities and Exchange Act of 1934.

            (h) "Fair Market Value" of share of Stock means if the shares listed
on any national or regional  securities  exchange,  then the last  reported sale
price on the composite tape of

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that exchange on the last Business day before the applicable date. If the shares
of Stock of the same class are not listed on any national or regional securities
exchange  and if the sales  prices  for shares of stock of the same class in the
over-the-counter  market are reported by the National  Association of Securities
Dealers,  IncAutomatic Quotations,  Inc. (NASDAQ) National Market (or such other
system in use) at the date of  determining  Fair Market Value,  then Fair Market
Value means the last  reported  sales price so reported  or, if not so reported,
then the average of the high bid and low asked  prices on the last  Business Day
before the date in question.

            (i) "Interim  Offering Period" means each three-month  period during
and within an Offering Period.

            (j) "Option"  means the rights of a  Participant  to purchase  Stock
during the applicable Offering Period.

            (k) "Offering Date" means the first day of each offering Period.

            (l)  "Offering   Period"  means,   in  the  absence  of  a  specific
determination  to the  contrary  by the Board of Director  or the  Committee,  a
27-month  period during which  contributions  may be made toward the purchase of
Stock under the Plan. The Board of Directors or the Committee may establish from
time to time Option Periods which may be up to twenty-seven (27) months.

            (m)   "Participant"   means  an  Eligible  Employee  who  elects  to
participate in the Plan.

            (n)  "Plan   Account"  means  the  account   established   for  each
Participant pursuant to the Plan.

            (o)  "Purchase  Price"  means  the price at which  Participants  may
purchase Stock as determined pursuant to the Plan.

            (p) "Stock" means the Common Stock of the Company.

            (q)  "Subsidiary"  means a  corporation  a majority of whose  voting
shares are owned by the Company.

         3.  ADMINISTRATION.  The Plan  shall be  administered  by the  Board of
Directors  and/or by a duly  appointed  Committee.  Whether or not the Board has
delegated administration,  the Board shall have the final power to determine all
questions of policy and expediency that may arise in the  administration  of the
Plan.  The Board of Directors may from time to time remove  members from, or add
members to, the Committee.  Vacancies on the Committee,  howsoever caused, shall
be filled by the Board of  Directors.  The  Committee  shall  select  one of its
members as Chairman,  and shall hold meetings at such times and places as it may
determine.  The interpretation and construction by the Board of Directors or the
Committee of any  provision of the Plan or of any right to purchase  Stock shall
be conclusive and binding on all persons.

            (a) DELEGATION TO COMMITTEE.  The Board may delegate  administration
of the Plan to the  Committee  composed of not fewer than two (2) members of the
Board. All of the

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members  of such  Committee  shall be  disinterested  persons  as defined by the
provisions of subparagraph  3(b) - "Disinterested  Person." If administration is
delegated to the  Committee,  the Committee  shall have, in connection  with the
administration  of the Plan,  the  powers  theretofore  possessed  by the Board,
subject,  however, to such resolutions,  not inconsistent with the provisions of
the Plan;  as may be  adopted  from time to time by the Board.  The Board  shall
otherwise  comply  with the  requirements  of Rule 16b-3  promulgated  under the
Exchange  Act,  as from  time to time in  effect,  The  Board  may  abolish  the
Committee  at any time and revest in the Board the  administration  of the Plan.
Two members of the Committee  shall  constitute a quorum for the  transaction of
business.

            (b) DISINTERESTED  PERSON. The term "Disinterested  Person," as used
in this Plan, shall mean an  administrator of the Plan,  whether a member of the
Board or of any Committee to which responsibility for administration of the Plan
has been delegated pursuant to subparagraph 3 (a), - "Delegation to Committee" -
who is not during the one year prior to service as an administrator of the plan,
or during such service,  granted or awarded  equity  securities  pursuant to the
plan or any other plan of the Company or any of its affiliates, except that: (A)
participation  in a formula plan meeting the conditions of Rule  16b-3(c)(2)(ii)
pursuant to the  Securities  Exchange Act shall not  disqualify a director  from
being  a  disinterested  person;  (B)  participation  in an  ongoing  securities
acquisition  plan  meeting  the  conditions  in Rule  16b-3(d)(2)(i)  shall  not
disqualify  a director  from being a  disinterested  person;  (C) an election to
receive  an  annual  retainer  fee in  either  cash or an  equivalent  amount of
securities,  or partly in cash and partly in securities,  shall not disqualify a
director from being a  disinterested  person;  and (D)  participation  in a plan
shall not  disqualify  a  director  from  being a  disinterested  person for the
purpose of  administering  another  plan that does not permit  participation  by
directors.  Any such person shall otherwise comply with the requirements of Rule
16b-3 promulgated under the Exchange Act, as from time to time in effect.

            (c) Number Of Shares To Be Offered.  The maximum aggregate number of
shares  which  shall be offered  under the Plan shall be Five  Hundred  Thousand
(500,000)  shares of Stock,  subject to  adjustment  as provided in Section 8 --
"Recapitalization,  Etc." -hereof In the event that any Option granted under the
Plan  expires or is  terminated  for any reason,  such shares  allocable  to the
unexercised portion of such Option shall again be subject to an Option under the
Plan. The stock subject to the Plan may be unissued shares or reacquired shares,
bought on the market or otherwise.

         4. ELIGIBILITY AND PARTICIPATION.

            (a) INITIAL  PARTICIPATION.  An  Eligible  Employee  shall  become a
Participant on an Offering Date after satisfying the eligibility requirements by
delivering  to the  Company's  payroll  office an  enrollment  form  authorizing
payroll  deductions  not less than ten (10) business days prior to such Offering
Date. An Eligible  Employee who did not enroll in the Plan prior to the Offering
Date, or a person who becomes an Eligible  Employee  after an Offering Date, may
enroll in the Plan for the remainder of the Offering  Period as of the beginning
of the next Interim  Offering Period by completing and filing an enrollment form
prior to the commencement date of such Interim Offering Period.

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            (b)  CONTINUED  PARTICIPATION.  A  Participant  shall  automatically
participate in each  successive  Offering  Period  (including  Interim  Offering
Periods)  until  such time as such  Participant  withdraws  from the Plan as set
forth below.  A Participant  is not required to file any  additional  enrollment
forms for subsequent  Offering  Periods or Interim  Offering Periods in order to
continue participation in the Plan.

            (c) PAYROLL  DEDUCTION RATE. The Participant  shall designate on the
enrollment  form the  percentage  of  Compensation  which  s/he  elects  to have
withheld  for the  purchase of Stock,  which may be 2%, 4%, 6%, 8% or 10% of the
Participant's Compensation. A Participant may reduce (but not increase) the rate
of payroll withholding during an Offering Period by filing an amended enrollment
form with the  payroll  office at any time prior to the first day of any Interim
Offering  Period (for which such change is to be  effective),  but not more than
three (3) changes may be made in any  Offering  Period (or such other  number of
changes as may be approved by the Board or the  Committee).  A  Participant  may
increase or decrease the rate of payroll  deduction for any subsequent  Offering
Period by filing with the Company a new enrollment  form for payroll  deductions
not less  than ten (10)  days  prior to the  Offering  Date for such  subsequent
Offering Period.

            (d) MAXIMUM ELECTION.  By enrolling in the Plan, a Participant shall
be deemed to have  elected to  purchase  the maximum  number of whole  shares of
Stock which can be purchased with the amount of the  Participant's  Compensation
which is  withheld  during  the  Offering  Period;  provided,  however,  that no
Participant may purchase shares of Stock in excess of the amount permitted under
Section 9 - "Limitation on Stock Ownership."

            (e) OFFERING PERIOD.  Any Options granted pursuant to the Plan shall
be subject to the Company obtaining all necessary  governmental approvals and/or
qualifications of the sale and/or issuance of Options and/or Stock.

            (f) PURCHASE PRICE. The Purchase Price for each share of Stock to be
purchased  under the Plan shall be eighty-five  percent (85)% of the Fair Market
Value of such  share on either (i) the  Offering  Date (or the date of entry for
new or  re-enrolling  employees)  or (ii) the last day of each Interim  Offering
Period, whichever is less.

            (g)  CONTRIBUTIONS.  The  Purchase  Price  of  the  Stock  shall  be
accumulated by payroll deductions throughout the Offering Period, which shall be
applied  automatically  to purchase  Stock at the end of each  Interim  Offering
Period. In the absence of a contrary  determination prior to the commencement of
an Offering  Period,  each  Interim  Offering  Period  shall have a  three-month
duration. At the end of each Interim Offering Period, accrued payroll deductions
will be  automatically  applied to the purchase of Stock at the Purchase  Price.
Payroll  deductions  shall  commence on the first payday  following the Offering
Date (or, in the case of a new or  re-enrolling  employee,  on the first  payday
following the commencement of the applicable  Interim Offering Period) and shall
continue unless altered or terminated as provided in the Plan.

            (h) EFFECT OF LEAVE OF ABSENCE.  During a leave of absence  approved
by the Company,  a Participant  may, for such period as the Committee shall deem
reasonable,  continue  contributions  to the Plan by making cash payments to the
Company  on his or her  normal  paydays  in an  amount  equal to the  difference
between the amount of his or her regular payroll deductions

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taken while such employee was participating under the Plan and the amount of his
payroll  deductions  taken  while on such leave of  absence.  Failure to pay any
installment  within  ten (10) days  after the payday on which it is due shall be
treated as a withdrawal from the Plan.

            (i) PURCHASE OF STOCK.  The Company will  maintain a Plan Account on
its books in the name of each  Participant,  On each payday the amount  deducted
from the Participant's  Compensation will be credited to the Participant's  Plan
Account.  No interest shall accrue on any such payroll deductions As of the last
day of each Interim  Offering Period the amount then in the  Participant's  Plan
Account  will  be  divided  by  the  Purchase   Price  and  the  amount  in  the
Participant's  Plan Account shall be used to purchase the number of whole shares
of Stock which result.  Share certificates  representing the number of shares of
Stock so purchased  shall be issued and delivered to the  Participant as soon as
reasonably  practicable  after the close of each Interim  Offering  Period.  Any
balance  remaining  in a  Participant's  Plan  Account  at the end of an Interim
Offering  Period after deducting the amount of the Purchase Price for the number
of whole shares issued to the Participant  shall become the beginning balance in
the  Participant's  Plan Account for the next following Interim Offering Period.
Any  balance  remaining  in the  Participant's  Plan  Account  at the  end of an
Offering  Period after deducting the amount of the Purchase Price for the number
of whole shares issued to the Participant  shall become the beginning balance in
the Participant's Plan Account for the next following Offering Period unless the
Participant elects to withdraw from participation.  If the Participant withdraws
from  participation,  the  balance in the  Participant's  Plan  Account  will be
refunded to the Participant, without interest.

            (j)   WITHDRAWAL.   A   Participant   may  elect  to  withdraw  from
participation in the Plan at any time before the last day of an Interim Offering
Period by filing the  prescribed  form with the payroll  office.  At the time of
withdrawal  the  amount  credited  to the  Participant's  Plan  Account  will be
refunded in cash,  without  interest.  Upon withdrawal from the Plan accumulated
payroll deductions,  if any, shall be returned to the withdrawn  Participant and
the withdrawn Participant's interest in the Plan shall terminate. In the event a
Participant  voluntarily  elects to withdraw from the Plan, such Participant may
not resume  participation in the Plan until after the expiration of one complete
Interim Offering Period;  re-enrollment  shall be made in the same manner as set
forth above for initial participation in the Plan.

         5. PRO RATA  ALLOCATION.  In the  event  that the  aggregate  number of
shares  which all  Participants  elect to  purchase  during an Interim  Offering
Period shall exceed the number of shares remaining  available for issuance under
the Plan, the number of shares to which each  Participant  shall become entitled
shall be determined by multiplying  the number of shares  available for issuance
by a  fraction,  the  numerator  of which is the sum of the number of shares the
Participant  has elected to purchase and the  denominator of which is the sum of
the number of shares which all Participants have elected to purchase.

         6. EFFECT OF TERMINATION OF EMPLOYMENT.  Termination of a Participant's
employment for any reason,  including  retirement or death,  or the failure of a
Participant  to remain an  Eligible  Employee  shall be treated as a  withdrawal
under  the Plan.  In the event of the  Participant's  death,  the  refund of the
Participant's   Plan  Account   shall  be  paid,   without   interest,   to  the
representative of the Participant's estate. A transfer by a Participant from the
Company to a

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<PAGE>

Subsidiary,  from one Subsidiary to another, or from a Subsidiary to the Company
shall not be treated as a termination of employment.

         7. RIGHTS NOT TRANSFERABLE.  The rights or interests of any Participant
in the Plan, in any Option  granted under the Plan, or in any Stock or moneys to
which he or she may be entitled under the Plan,  shall not be,  transferable  by
voluntary  or  involuntary  assignment  or by  operation of law, or by any other
manner   otherwise  than  by  will  or  the  applicable   laws  of  descent  and
distribution. If the Participant shall in any manner attempt to transfer, assign
or otherwise  encumber his or her rights or interests under the Plan, other than
by will, such act shall be treated as a withdrawal from the Plan.

         8.  RECAPITALIZATION,  ETC.  Subject  to  any  required  action  by the
shareholders  of the  Company,  the  number of shares of Stock  covered  by each
Option under the Plan which has not yet been  exercised and the number of shares
of Stock which have been authorized for issuance under the Plan but have not yet
been placed under an Option (collectively the "Reserves"),  as well as the price
per share of Stock  covered by each Option under the Plan which has not yet been
exercised, shall be proportionately adjusted for any increase or decrease in the
number of issued  shares of Stock  resulting  from a stock split,  reverse stock
split, stock dividend,  combination or  reclassification  of Stock, or any other
increase or decrease in the number of shares of Stock effected  without  receipt
of  consideration  by the Company;  provided,  however,  that  conversion of any
convertible securities of the Company shall not be deemed to have been "effected
without receipt of  consideration."  Such adjustment shall be made by the Board,
whose  determination  in that respect  shall be final,  binding and  conclusive.
Except as expressly  provided  herein,  no issue by the Company of the shares of
Stock of any class shall affect,  and no  adjustment by reason  thereof shall be
made with  respect  to,  the  number or price of shares of Stock  subject  to an
Option.

         In the event of the proposed dissolution or liquidation of the Company,
the Offering Period will terminate immediately prior to the consummation of such
proposed  action,  unless  otherwise  provided  by the Board.  In the event of a
proposed sale of all or substantially  all of the assets of the Company,  of the
merger of the Company  with or into another  corporation,  each option under the
Plan shall be assumed  or an  equivalent  option  shall be  substituted  by such
successor corporation,  unless the Board determines, in the exercise of its sole
discretion and in lieu of such assumption or substitution,  that the Participant
shall  have the right to  exercise  the  Option as to all of the  opined  Stock,
including  shares as to which the Option would not otherwise be exercisable.  If
the  Board  makes  an  Option  fully   exercisable  in  lieu  of  assumption  or
substitution in the event of a merger or sale of assets,  the Board shall notify
the  Participant  that the  Option  shall be fully  exercisable  for a period of
thirty (30) days from the date of such  notice,  and the Option  will  terminate
upon the expiration of such period.

         The Board may also,  if it so  determines  in the  exercise of its sole
discretion,  make provision for adjusting the Reserves, as well as the price per
share of Stock covered by each outstanding Option, in the event that the Company
effects one or more  reorganizations,  recapitalizations,  rights  offerings  or
other  increases or reductions of shares of its  outstanding  Stock,  and in the
event  of  the  Company  being  consolidated  with  or  merged  into  any  other
corporation.

                                      -6-
<PAGE>

         9. LIMITATION ON STOCK OWNERSHIP.  Notwithstanding any provision herein
to the  contrary,  no  Participant  shall be granted a right to  purchase  Stock
pursuant  to  Section  4  -  "Eligibility  and  Participation"  -  if  (i)  such
Participant,  immediately after electing to purchase such Stock, would own Stock
possessing  five (5) percent or more of the total combined voting power or value
of all  classes  of stock of the  Company  or any  parent or  Subsidiary  of the
Company,  or (ii)  under the terms of the Plan the  rights  of the  employee  to
purchase Stock under this and all other qualified  employee stock purchase plans
of the Company or its  Subsidiaries  would accrue at a rate that exceeds $20,000
of fair market value of such Stock  (determined  on the Offering  Date) for each
calendar year for which such right is  outstanding  at any time. For purposes of
this Section 9, ownership of Stock shall be determined by the attribution  rules
of Section  424(d) of the Code and  Participants  shall be considered to own any
Stock  which  they have a right or option to  purchase  under  this or any other
stock purchase plan.

         10. LIMITATIONS ON OFFICERS AND DIRECTORS.  Participants subject to the
provisions  of Section 16 of the Exchange Act (Company  officers and  directors)
must  comply  with the  following  requirements:

            (a) Shares of Stock purchased  pursuant to the Plan must be held and
may not be transferred for a period of six (6) months from the date of purchase,
provided,  however,  that  distributions  in connection with death,  retirement,
disability,  termination of employment,  or a qualified domestic relations order
as  defined  by the  Code,  or the  rules  thereunder,  are not  subject  to the
requirement set forth in this subparagraph 10(a).

            (b) Officer and director Participants who cease participation in the
Plan may not participate again for a period of at least six (6) months.

            (c) Shares of Stock purchased  pursuant to the Plan must be held for
at least six (6) months from the date the Purchase Price is fixed.

         11.  RIGHTS AS AN  EMPLOYEE.  Nothing in the Plan shall be construed to
give any  Participant  the  right to remain in the  employ of the  Company  or a
Subsidiary  or to affect the right of the  Company and its  Subsidiaries  or the
Participant to terminate such employment at any time with or without cause.

         12. RIGHTS AS A  SHAREHOLDER.  A Participant  shall have no rights as a
shareholder  with  respect  to any shares of Stock he or she may have a right to
purchase  under the Plan until the date of  issuance of a stock  certificate  to
such Participant for shares issued pursuant to the Plan.

         13. COVENANTS OF THE COMPANY.

            (a)  During  the terms of the  rights  granted  under the Plan,  the
Company shall keep available at all times the number of shares of stock required
to satisfy such rights.

            (b) The Company shall seek to obtain from each regulatory commission
or agency having jurisdiction over the Plan such authority as may be required to
issue and sell  shares of Stock upon  exercise of the rights  granted  under the
Plan. If the Company is unable to obtain from any such regulatory  commission or
agency the  authority  which  counsel for the Company  deems  necessary  for the
lawful issuance and sale of stock under the Plan, the Company

                                      -7-
<PAGE>

shall be relieved  from any  liability  for failure to issue and sell stock upon
exercise of such rights unless and until such authority is obtained.

         14.  USE OF  PROCEEDS  FROM  STOCK.  Proceeds  from  the  sale of stock
pursuant to rights granted under the Plan shall constitute  general funds of the
Company.

         15.  AMENDMENT OR TERMINATION OF THE PLAN. The Board of Directors shall
have the  right to  amend,  modify  or  terminate  the Plan at any time  without
notice,  provided that no Participant's  existing rights are adversely  affected
thereby,  and provided  further that no amendment of the Plan shall be effective
until such amendment is approved by a vote of the holders of at least a majority
of the  outstanding  shares of Common Stock of the Company  within twelve months
before  or after  the date  upon  which  such  action  is taken by the  Board of
Directors,  if such amendment would:

            (a)  Increase the  aggregate  number of shares of Stock to be issued
under the Plan  (except  as  provided  in Section 8  "Recapitalization,  Etc." -
hereof);

            (b)  Materially   modify  the   requirements   for   eligibility  to
participate in the Plan;

            (c)  Increase  the  maximum  number  of  shares  of  Stock  which  a
Participant may purchase in any Offering Period;

            (d) Extend the term of the Plan;

            (e) Alter the Purchase  Price  formula so as to reduce the price for
shares of Stock to be purchased under the Plan;

            (f)  Otherwise   materially   increase  the  benefits   accruing  to
Participants under the Plan; or

            (g) Cause the Plan to fail to meet the  requirements of an "employee
stock purchase plan" under Section 423 of the Code.

         16. TERMINATION OR SUSPENSION OF THE PLAN.

            (a) The Board may suspend or terminate the Plan at any time.  Unless
sooner  terminated,  the Plan shall  terminate  ten (10) years from the date the
Plan is adopted by the Board or approved  by the  stockholders  of the  Company,
whichever is earlier.  No rights may be granted under the Plan while the Plan is
suspended or after it is terminated.

            (b) Rights and  obligations  under any rights granted while the Plan
is in effect shall not be altered or impaired by  suspension or  termination  of
the Plan,  except  with the  consent  of the  person to whom  such  rights  were
granted.

         17.  EFFECTIVE  DATE OF PLAN.  The Plan  shall  become  effective  upon
adoption by the Board or the shareholders,  whichever is earlier. Rights granted
under the Plan shall be subject to revocation unless and until the Plan has been
approved by the shareholders of the Company.

                                      -8-
<PAGE>

                              POSITRON CORPORATION
                1999 EMPLOYEE STOCK PURCHASE PLAN ENROLLMENT FORM

         For the Offering Period beginning: _____________, _____________

         For the Interim (Three Month)
         Offering Period beginning:         _____________, _____________

_______ Application to begin participation
_______ Change in Payroll Deduction Rate

_______ Change of Beneficiary(ies)

         1.  _________________hereby  elects to participate in the 1999 Positron
Corporation  Employee  Stock  Purchase  Plan (the  "Stock  Purchase  Plan")  and
subscribes to purchase  shares of the Company's  Common Stock in accordance with
this Enrollment Form and the Employee Stock Purchase Plan.

         2. I hereby  authorize  payroll  deductions  from each  paycheck in the
amount of 2%, 4%, 6%, 8% or 10% (please  circle one) of my  Compensation  during
the Offering Period in accordance with the Stock Purchase Plan.

         3. I  understand  that said  deductions  shall be  accumulated  for the
purchase of shares of Common Stock at the applicable  Purchase Price  determined
in  accordance  with the Stock  Purchase  Plan.  I  understand  that if I do not
withdraw from an Offering  Period,  any accumulated  payroll  deductions will be
used to  automatically  purchase  shares.  I understand  that no interest  shall
accrue on any funds deducted under the terms of the Plan.

         4. I have received a copy of the complete  "1999  Positron  Corporation
Employee Stock Purchase Plan." I understand that my  participation  in the Stock
Purchase Plan is in all respects  subject to the terms of the Plan. I understand
that  participation  in the Stock  Purchase Plan under this  Enrollment  Form is
subject to obtaining shareholder approval of the Stock Purchase Plan.

         5.  Shares  purchased  for me under the Stock  Purchase  Plan should be
issued in the name(s) of (employee and/or spouse only):

         6. I understand that if I dispose of any shares received by me pursuant
to the Plan within 2 years after the applicable  Offering Date (the first day of
the Offering Period during which I purchased such shares) or within I year after
the final day of the applicable  Interim  Offering  Period (the date I purchased
such  shares),  I will be treated  for  federal  income tax  purposes  as having
received ordinary income at the time of such disposition in an amount equal

<PAGE>

to the excess of the fair  market  value of the  shares at the time such  shares
were delivered to me over the price which I paid for the shares.  I HEREBY AGREE
TO  NOTIFY  THE  COMPANY  IN  WRITING  WITHIN  30  DAYS  AFTER  THE  DATE OF ANY
DISPOSITION OF MY SHARES AND I WILL MAKE ADEQUATE  PROVISION FOR FEDERAL,  STATE
OR OTHER TAX WITHHOLDING  OBLIGATIONS,  IF ANY, WHICH ARISE UPON THE DISPOSITION
OF THE COMMON  STOCK.  The Company may, but will not be obligated  to,  withhold
from my  compensation  the amount  necessary to meet any applicable  withholding
obligation including any withholding  necessary to make available to the Company
any tax  deductions or benefits  attributable  to sale or early  disposition  of
Common Stock by me. If I dispose of such shares at any time after the expiration
of the holding period  described  above, I understand that I will be treated for
federal income tax purposes as having  received  income only at the time of such
disposition,  and that such income will be taxed as ordinary  income only to the
extent of an amount  equal to the  lesser of (1) the  excess of the fair  market
value of the  shares at the time of such  disposition  over the  purchase  price
which I paid for the shares or (2) 15% of the fair market value of the shares on
the first day of the applicable  Offering Period.  The remainder of the gain, if
any, recognized. on such disposition will be taxed as capital gain.

         7. I hereby agree to be bound by the terms of the Stock  Purchase Plan.
The  effectiveness  of this  Enrollment Form is dependent upon my eligibility to
participate in the Employee Stock Purchase Plan.

         8. In the event of my death,  I hereby  designate  the  following as my
beneficiary(ies)  to  receive  all  payments  and  shares due me under the Stock
Purchase Plan:

NAME: (Please print)
                           ----------------------------------------------------
                                (First)          (Middle)           (Last)
Relationship
                           ----------------------------------------------------
                           Relationship

                           ----------------------------------------------------
                           (Address)

NAME: (Please print)
                           ----------------------------------------------------
                                (First)          (Middle)           (Last)
Relationship
                           ----------------------------------------------------
                           Relationship

                           ----------------------------------------------------
                           (Address)

<PAGE>

                              POSITRON CORPORATION
                        1999 EMPLOYEE STOCK PURCHASE PLAN

                              NOTICE OF WITHDRAWAL

         The undersigned participant in the Offering Period of the 1999 Positron
Corporation  Employee Stock Purchase Plan which began on 19 (PLEASE INSERT DATE)
hereby  notifies the Company that he or she hereby  withdraws  from the Offering
Period. S/He hereby directs the Company to pay to the undersigned as promptly as
practicable  all the payroll  deductions  credited  to his or her  account  with
respect to such Offering Period. The undersigned understands and agrees that his
or her option for such Offering  Period will be  automatically  terminated.  The
undersigned  understands further that no further payroll deductions will be made
for the purchase of shares in the current  Offering  Period and the  undersigned
shall  be  eligible  to  participate  in  succeeding  Offering  Periods  only by
delivering to the Company a new  Enrollment  Form. The  undersigned  understands
that upon withdrawal from a particular  Offering Period,  he or she is precluded
from subsequent participation for a period of time specified in the Plan.

                                         Name and Address of Participant

                                         -------------------------------

                                         -------------------------------

                                         -------------------------------

                                         Signature

                                         -------------------------------

                                         Dated:
                                                ------------------------

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