Document:

v0215_exhibit.htm

    Exhibit
10-65

     

    

     

                                                    LEASE
AGREEMENT

     

    THIS
AGREEMENT OF LEASE IS MADE AT ISLAMABAD, This 15th day of
February, 2008 between THE CAPITAL DEVELOPMENT AUTHORITY, (herein after called
as the "LESSOR" which term and expression shall include, unless the context
other wise requires, its successors, legal representatives and assigns), a body
corporate, established under the Capital Development Authority Ordinance, 1960,
(herein after referred to as the "ORDINANCE") having its principal office and
business at G-7/4, Islamabad, of the ONE PART;

     

    And

     

    M/s En
Pointe Technologies, Inc., a company incorporated in the State of Delaware USA,
with its principal place of business located at 18701 S. Figueroa Street,
Gardena, California USA, (herein referred to as the "LESSEE" which term and
expression shall include, unless the context otherwise requires, its successors,
legal representatives and assigns) of the SECOND PART.

     

    WHEREAS the
LESSOR, being the lawful owner in exclusive possession of piece and parcel of
land, more particularly described in Schedule "A"
appended hereunder, (herein after referred to as the "PLOT"), comprising
of the specified area as defined in section 2(p) of the ordinance is entitled to
lease out the said PLOT in accordance with section 4 of the ORDINANCE and the
LESSEE have, respectively, agreed to give and take the said PLOT on LEASE, on
the following, mutually agreed terms and conditions:

     

    TERMS
AND CONDITIONS

     

    
      	 a)	The
      period of the LEASE on rent basis shall be up to Ninety-Nine (99) YEARS
      from the date of delivery of vacant possession  of the PLOT to the
      LESSEE  and will renew 

    

    
              
in increments of 33 years;

    

     

    
      	
              b)

            	
              The
      lease rental of the PLOT shall be at the rate of Rs. 2,200/- (Pak
      Rupees Two thousand and Two hundred only) per square yard for the purpose
      of constructing thereon

            

    

    and
operating thereat an Information Technology Campus and Institute (THE
"TECHNOLOGY CAMPUS") for multiple educational,  training and conferences
which may include but is not limited to technical labs; including research,
data, and development labs and centers for all types of IT services: data
processing facilities; disaster and data recovery centers; knowledge and
business processing outsourcing; training across various market segments;
managed services and help desk support for all levels (1, 2, and 3 and advanced
support); general customer services and sales support and; related collateral or
ancillary  services. The TECHNOLOGY CAMPUS will include accommodations
for the faculty, students, staff, as well as visiting foreign and domestic
guests, and business and professional people; auditoriums, conference centers,
recreational facility, special dedicated commerce teaching and training blocks
for advanced courses for multinational companies such as Microsoft, Cisco, and
numerous other manufacturers and software publishers or their resellers or
agents who would establish their respective units, and train people: restaurants
and cafeteria for the convenience of the students, residents, faculty and
visitors (as the institution would work round the clock). To enhance and in;
furtherance of the world-wide prestige, viability, recognition and attraction of
the TECHNOLOGY CAMPUS to students, instructors, business leaders and other
professionals, it is contemplated that the TECHNOLOGY CAMPUS will provide
on-the-job practical and real­business internships employment and
work-practice environments, development of help desk, "back office" services,
business process services, and the like through organizations who have agreed le
provide internships and apprenticeships to students and other candidates of the
TECHNOLOGY CAMPUS, and food service facilities, Internet "café" facilities,
banking, visitor and/or student and instructor facilities, dry-cleaning arid
laundry facilities, fitness center, and such other personal, business, and
professional services that would commonly be found at and in association with
first-class educational institutions and businesses of world-wide
recognition;

     

    
      	 c)	The
      consideration of the rent of Pak Rupees which shall be paid by the LESSEE
      to the LESSOR, pursuant to Schedule "B" as an
      admission and acknowledgement for the

    

        payment by the
LESSEE;

    
    

     

    
      	 d)	The LESSOR covenants
      with the LESSEE that the LESSOR has good valid and legal title to the PLOT
      which is unencumbered and is entitled to lease the PLOT to the LESSEE
      

    

            
on the terms and conditions herein contained and to permit the use and
occupation thereof by the LESSEE for the purposes aforesaid;

     

    
      	 e)	The LESSOR hereby
      further covenants with the LESSEE that the LESSEE having paid the rent
      shall peaceably hold and enjoy the PLOT without any interruption or
    

    

           
disturbance
from or by the LESSOR during the period of the Lease hereby granted and any
renewals thereof; 

           
The LESSOR hereby further covenants to keep the lessee safe, harmless
and indemnified against all losses and damages whatsoever occasioned to or
suffered by the LESSEE

             
owing to any claim, suit or demand preferred by anyone pertaining to
the title or right of the LESSOR in or to all or LESSEE on
the terms and conditions herein contained
or

               
to permit the use and occupation thereof by the LESSEE for the purposes
aforesaid. Whereas, in case of violation of any of the terms and conditions of
this lease agreement,

                 
the LESSOR shall have the right to terminate the lease after issuing a notice to
the LESSEE at least Ninety (90) days to remedy the breach. If the satisfactory
remedial measures

                   
are not taken by the LESSEE within stipulated time period, the lease shall be
terminated forthwith;

          

           

        

    
b

    
      	 f)	The LESSEE shall pay
      to the LESSOR, Annual Ground Rent (AGR) which will be levied at the rate
      of Rs. 4/- (Pak Rupees Four only) per square yard, and all other property
      

    

    
              
related and/or commercial taxes levied by the LESSOR under the law; in no event
shall such taxes levied be greater than those levied on other such
institutions;

    

     

    
      	 g)	 Lease of the
      said 'Plot' as mentioned above shall be
      non-transferable.  However, the LESSEE shall have the right to
      outsource and sublet its premises have the right to

    

    
      
                
outsource and sublet its premises have the right to mortgage or charge the this
lease agreement in favour of a lender for raising finances for the
construction/development of 

                
the project and would inform to the LESSOR in writing in this
regard;

      

    

     

    
      	 h)	The PLOT shall only
      be used for the aforementioned purposes of constructing thereon and
      operating thereat the TECHNOLOGY CAMPUS and related facilities as
      described  

    

            in
(b)
above;

     

    
      The
LESSEE shall be responsible for the internal development of the PLOT at its own
cost according to the construction/development plan approved by the LESSOR which
approval shall not be unreasonably withheld. Any objections to the submitted
plan will be communicated to the LESSEE within a period of 30 days. The LESSEE
shall submit to the LESSOR revised plan within 15 days of objections
communicated by the LESSOR. Should such revised plan not be approved within
thirty (30) days after submission, such plan shall be deemed to have been
accepted and approved by the LESSOR. However, unless approved by the LESSOR in
writing through an authorized person, no building, or other structures shall be
constructed by the LESSEE on the PLOT. Furthermore, no building, or other
structures shall be constructed on the PLOT by the LESSEE, in violation of the
layout plans approved by the LESSOR and against the CDA Building and Zoning
Laws, bye-Laws and Rules and Regulations;

    

     

    
      	 i)	The LESSEE shall
      complete Construction on the PLOT within a period of thirty-six (36)
      months after taking possession of the PLOT, subject to necessary
      permission and 

    

             The
LESSEE shall complete Construction on the PLOT within a period of thirty-six
(36) months after taking possession of the PLOT, subject to necessary permission
and 

            
licenses to be obtained by the LESSEE; and infrastructure to the extent of road
access, and the LESSOR shall facilitate the LESSEE in obtaining connections for
power, gas and 

           
water. The LESSOR and LESSEE acknowledge and agree that the construction and
development of the TECHNOLOGY CAMPUS will be ongoing and adjustments are 

    
             
contemplated based on the development of new technology and infrastructure
requirements to support the same;

       

    

    
      	 j)	The
      LESSEE shall submit to the LESSOR the stage of completion of the project
      and activity reports at the end of every six months until final completion
      certificate is issued;

    

     

    
      	 k)	The LESSOR may at
      any time and form time to time extend any period or time provided for in
      this Agreement of Lease for doing or completing any act, deed or thing or
      for 

    

           
making payment hereunder or pursuant hereto upon such terms and conditions as
may be agreed between the LESSOR and the LESSEE provided that such extension
shall not 

    
              be
granted where failure for doing or completing any act, deed or thing is due to
any willful default or neglect on the part of the LESSEE;

    

     

    
      	 l)	The LESSEE shall be
      responsible and liable for all applicable taxes, including taxes which are
      now, or at any time hereafter during the period of the lease assessed,
      charged, or 

    

            
imposed upon the LESSEE by the LESSOR and the Federal Government in connection
with the PLOT which, however, shall not be greater than those imposed upon other
such 

    
              
institutions;

       

    

    
      	 m)	The LESSEE shall
      permit the LESSOR, or any other authorized person, or competent
      officers/authorities, on behalf of the LESSOR, to enter upon the PLOT and
      the building and 

    

           
structures thereon, at all reasonable times, for the purpose of inquiry or
inspections;

     

    
      	n)	The LESSOR shall
      grant to, and/or assist the LESSEE in applying for securing, and
      maintaining all such permissions, authorizations, approvals, consents and
      licenses, as may 

    

    
      
        
          
                    be
necessary, or required by the LESSEE, subject to the conditions of this
Agreement and under the applicable laws/Bye-Laws, Rules and Regulations, for

                     
and in connections with setting up, operations and maintenance of its
contractual obligations and purposes as aforementioned.  Should any
of the aforementioned laws/Bye-       
Laws/Rules and Regulations change, then LESSOR shall provide LESSEE with written
copies of such changes, through registered post,
within ten (10) days of such change;

            

          

        

      

    

    
       

    

    
      	 o)	Both the LESSOR and
      the LESSEE shall carry out their contractual  obligations
      throughout the lease period, peacefully without any undue and unreasonable
      hindrance from 

    

    
              
any of the parties to this lease Agreement;

    

     

    
      	 p)	Notwithstanding
      anything contained in this Agreement, the lease in respect of the PLOT
      shall be renewable on the terms and conditions set forth in paragraph
      TERMS AND 

    

    
              CONDITIONS
(a) above;

       

    

    
      	 q)	The Registration fee
      and stamp duty on this lease agreement or any other such documents
      relating to the renewal of the lease Agreement if any , shall be born and
      payable by 

    

            
the LESSEE;

     

    
      	 r)	The obligations of
      each of the parties hereunder shall be suspended during the period and to
      the extent that the party is prevented or hindered from complying herewith
      by 

    

           
"Force Majeure" (as hereinafter defined). In such event, the party shall give
notice of suspension as soon as reasonably possible to the other party stating
the date and extent 

    
              of
such suspension and the cause thereof. Any of the Parties whose obligations have
been suspended as aforesaid shall resume the performance of such obligations

               
as soon as reasonably possible after the removal of the cause and shall so
notify such other party. "Force Majeure" means any cause beyond the reasonable
control of the 

               
Party including (in so far as beyond such control but without prejudice to the
generality of the foregoing expressions) strikes, lock-outs, labor
disputes and compliance

                 
with any law within Pakistan;

        

      

       

    

    
      	 s)	The LESSOR with
      above terms and conditions having been agreed to by the LESSEE, hereby
      demises unto the LESSEE all the said PLOT together with all rights of
      easements 

    

           
and appurtenants thereto coupled with its contractual lease privileges and
benefits up till the period of the aforementioned period of ninety-nine (99)
years including any 

    
             
renewals thereof with the delivery of the vacant possession of the PLOT for the
purpose mentioned herein above;

    

     

    
      	 t)	This lease agreement
      shall be governed by and construed in accordance with the Laws of Pakistan
      and is subject to any Pakistani Act, Ordinance, Rule, Regulation,
      Direction, 

    

           
Instruction, Policy including but not limited to the environment protection etc;
as amended from time to time; of the Government of Pakistan and the LESSOR, as
the case

             
may be provided it is applied across the board and LESSEE is not singled
out;

    

     

    
      	 u)	In case of any
      dispute between the LESSOR and the LESSEE in respect of any contractual
      obligation(s) , the matter shall be referred to an arbitrator , to be
      appointed with 

    

    
              may be
provided it is applied across the board and LESSEE is not singled
out;

    

     

    
      	 v)	Any notice,
      approval, request or other communication required or permitted to be given
      or made under this agreement shall be in writing in the English language
      and delivered 

    

            to
the address through post or by hand or sent to the facsimile number or the
LESSOR or the LESSEE, as the case may be, shown below or to such other address,
or facsimile 

           
number as either Party may have notified the sender and shall be deemed to be
duly given or made when delivered to the recipient at such address or facsimile
number which is 

           
duly acknowledged:-

     

    
      	
                      To
      LESSOR:

            	
              Capital
      Development Authority

            

    

    
      	
               
      

            	
              G-
      7/4, Islamabad

            

    

    
      	
               
      

            	
              Tel.
      NO. +92-51-9253021

            

    

    
      	
               
      

            	
              Fax
      No.  +92-51-2891043

            

    

    
      	 	 
	
                      To
      LESSEE:

            	
              EN
      POINTE Technologies

            

    

    
      	
               
      

            	
              18701-S
      Figueroa Street

            

    

    
      	
               
      

            	
              Gardena,
      CA 90248-4506

            

    

    
      	
               
      

            	
              Tel.
      No.   310 . 337 .
5200

            

    

    
      	
               
      

            	
              Fax
      No.   310 . 258 .
2304

            

    

    

    IN
WITNESS WHEREOF BOTH THE LESSOR AND LESSE, hereto have executed these presents
on the 15th day of
February, 2008 and have put their signatures/thumbs hereunder on it in the
presence of the following witnesses at Islamabad.

     

     

    
      
        	
                /s/ Dr. Faisal Awan
        

              	 
      	
                /s/ Robert A. Mercer

              
	
                Director
      Project Management

              	 
      	
                Robert
      A. Mercer

              
	
                CDA
      Islamabad

              	 
      	
                V.
      P. Finance & Taxation

              
	 
      	 
      	
                En
      Pointe Technologies Inc.

              

      

    

     

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

                                   SCHEDULE
"A"

     

    
 

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

     

    SCHEDULE
"B"

     

    10% in
the receipt of letter of intent from CDA

     

    15% on
signing of the lease agreement

     

    75% on
ten annual equal installments together with interest based on six (6) months
KIBOR (average of ask and bid) for the previous three (3) months. If, for any
reason, KIBOR is no longer valid or applicable, the State Bank of Pakistan
average discount rate shall apply for the respective installments.forms8ctereednonqual_ex10-1.htm

    

      Exhibit
10.1

      CARDIOTECH
INTERNATIONAL, INC.

      NONQUALIFIED
STOCK OPTION AGREEMENT

      

       

      
        	
                Option
      Agreement Number:

              	
                NSO-03

              
	
                Date
      of Grant/Award:

              	
                March
      20, 2006

              
	
                Name
      of Optionee:

              	
                Andrew
      Reed

              
	
                Optionee’s
      Social Security Number:

              	
                ###-##-####

              
	
                Vesting
      Date:

              	
                March
      20, 2006

              
	
                Initial
      Exercise Date:

              	
                March
      20, 2006

              
	
                Expiration
      Date:

              	
                March
      20, 2016

              

      

      

      

      1. Dated as
of the Date of Grant/Award set forth above (the “Grant Date”), a Stock
Option (the “Option”) is hereby
granted to the above-named Optionee.  The award of this Option (the
“Award”)
conveys to the Optionee the right to purchase from Cardiotech International,
Inc. (the “Company”) up to
160,000 shares of common stock (the “Option Shares”) at an
exercise price of $2.57 per share, the fair market value of the Company’s common
stock on the last business day prior to the Grant Date.  The Option
Shares are fully vested on the Vesting Date. The Option awarded hereunder is
intended to be a nonqualified stock option and is specifically not intended to
be treated as an Incentive Stock Option as such term is defined under Section
422 of the Internal Revenue Code.

       

      

       

      2. DEFINITIONS Whenever
used herein, the following terms shall have their respective meanings set forth
below:

       

      (a)
“Change in Control” shall mean an Ownership Change Event or a series of related
Ownership Change Events (collectively, a “Transaction”) wherein the stockholders
of the Company, immediately before a Transaction, do not retain immediately
after a Transaction, in substantially the same proportions as their ownership of
shares of the Company's voting stock immediately before a Transaction, direct or
indirect beneficial ownership of more than fifty percent (50%) of the total
combined voting power of the outstanding voting securities of the Company or, in
the case of a Transaction involving the sale, exchange or transfer of all or
substantially all of the Company's assets, the corporation or other business
entity to which the assets of the Company were transferred (the “Transferee”),
as the case may be. For purposes of the preceding sentence, indirect beneficial
ownership shall include, without limitation, an interest resulting from
ownership of the voting securities of one or more corporations or other business
entities which own the Company or the Transferee, as the case may be, either
directly or through one or more subsidiary corporations
or other business entities. The Board of Directors of the Company (the “Board”)
shall have the right to determine whether multiple sales or exchanges of the
voting securities of the Company or multiple Ownership Change Events are
related, and its determination shall be final, binding and
conclusive.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      (b)
“Code” means the Internal Revenue Code of 1986, as amended, and any applicable
regulations promulgated thereunder.

       

      (c) An
“Ownership Change Event” shall be deemed to have occurred if any of the
following occurs with respect to the Company: (i) the direct or indirect
sale or exchange in a single or series of related transactions by the
stockholders of the Company of more than fifty percent (50%) of the voting stock
of the Company; (ii) a merger or consolidation in which the Company is a
party; (iii) the sale, exchange, or transfer of all or substantially all of
the assets of the Company; or (iv) a liquidation or dissolution of the
Company.

       

      (d)
“Parent Corporation” means any present or future “parent corporation” of the
Company, as defined in Section 424(e) of the Code.

       

      (e)
“Participating Company” means the Company or any Parent Corporation or
Subsidiary Corporation.

       

      (f)
“Service” means the Optionee’s employment or service with the Company, whether
in the capacity of an employee, a director or a consultant. The Optionee’s
Service shall not be deemed to have terminated merely because of a change in the
capacity in which the Optionee renders Service to the Company or a change in the
Participating Company for which the Optionee renders such Service, provided that
there is no interruption or termination of the Optionee’s Service. Furthermore,
the Optionee’s Service with the Company shall not be deemed to have terminated
if the Optionee takes any military leave, sick leave, or other bona fide leave
of absence approved by the Company; provided, however, that if any such leave
exceeds ninety (90) days, on the ninety-first (91st) day of such leave the
Optionee’s Service shall be deemed to have terminated unless the Optionee’s
right to return to Service with the Company is guaranteed by statute or
contract. Notwithstanding the foregoing, unless otherwise designated by the
Company or required by law, a leave of absence shall not be treated as Service
for purposes of this Agreement unless determined otherwise by the
Company.  The Optionee’s Service shall be deemed to have terminated
either upon an actual termination of service or upon the corporation for which
the Optionee performs services ceasing to be a Participating Company. Subject to
the foregoing, the Company, in its discretion, shall determine whether the
Optionee’s Service has terminated and the effective date of such
termination.

       

      

       

      3. To the
extent not previously exercised, the Option and all rights with respect thereto,
shall terminate and become null and void when the Option Term (hereinafter
defined) expires.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      4. The
Option may be exercised, in whole or in part, at any time or from time to time
prior to the Expiration Date set forth above (the “Option Term”).  The
Option Term is contingent upon the continued service of the Optionee with the
Participating Company.  The Option shall be exercisable after the
Optionee’s termination of Service only during the applicable time period
determined in accordance with the following provisions and thereafter shall
terminate:

       

      (a) DISABILITY.
If the Optionee’s Service terminates because of the Disability of the Optionee,
an Option, to the extent unexercised and exercisable on the date on which the
Optionee’s Service terminated, may be exercised by the Optionee (or the
Optionee’s guardian or legal representative) at any time prior to the expiration
of twelve (12) months after the date on which the Optionee’s Service
terminated, but in any event no later than the Expiration Date.

       

      (b)  DEATH.
If the Optionee’s Service terminates because of the death of the Optionee, an
Option, to the extent unexercised and exercisable on the date on which the
Optionee’s Service terminated, may be exercised by the Optionee’s legal
representative or other person who acquired the right to exercise the Option or
Right by reason of the Optionee’s death at any time prior to the Expiration
Date.

       

      (c) OTHER
TERMINATION OF SERVICE. If the Optionee’s Service terminates for any reason,
except Disability or death, an Option, to the extent unexercised and exercisable
by the Optionee on the date on which the Optionee’s Service terminated, may be
exercised by the Optionee at any time prior to the expiration of three
(3) months after the date on which the Optionee’s Service terminated, but
in no event any later than the Expiration Date.

       

      5. The grant
of Awards under the Plan shall in no way affect the right of the Company to
adjust, reclassify, reorganize or otherwise change its capital or business
structure or to merge, consolidate, dissolve, liquidate or sell or transfer all
or any part of its business or assets.

       

      6. The
Option may be exercised with respect to all or any part of the number of vested
Option Shares by the giving of written notice (“Notice”) of the
intent to exercise to the Company.  The Notice shall specify the
exercise date and the number of Option Shares as to which the Option is to be
exercised.  Full payment of the Option exercise price by any of the
means of consideration shall be made on or before the exercise date specified in
the Notice.  Such full payment having occurred on or before the
exercise date specified in the Notice, or as soon thereafter as is practicable,
the Company shall cause to be delivered to the Optionee a certificate or
certificates for the Option Shares then being purchased.  If the
Optionee fails to pay for any of the Option Shares specified in the Notice, or
fails to accept delivery of Option Shares, the Optionee’s right to purchase such
Option Shares may be terminated by the Company.

       

      7. During
the Optionee’s lifetime, the Option granted hereunder shall be exercisable only
by the Optionee or by any guardian or legal representative of the Optionee, and
the Option shall not be transferable except, in the case of the death of the
Optionee, by will or by the laws of descent and distribution, nor shall the
Option be subject to attachment, execution or other similar
process.

       

      8. The
Company may unilaterally amend the Award at any time if the Company determines,
in its sole discretion that amendment is necessary or advisable in light of any
applicable addition to or change in the Internal Revenue Code, any regulations
issued thereunder, or any federal or state securities law or other applicable
law or regulation.

       

      9.  In
the event of a Change in Control, the surviving, continuing, successor, or
purchasing corporation or other business entity or parent thereof, as the case
may be (the “Acquiring Corporation”), may, without the consent of the Optionee,
either assume the Company's rights and obligations under outstanding Options or
substitute for such outstanding Options substantially equivalent options for, or
in relation to, the Acquiring Corporation's stock.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      10. Until the
date a stock certificate is issued to the Optionee, the Optionee shall have no
rights as a stockholder with respect to the Option Shares, and no adjustments
shall be made for dividends of any kind or nature, distributions, or other
rights for which the record date is prior to the date such stock certificate is
issued.

       

      11. Nothing
contained herein shall be deemed to give the Optionee any right to employment by
the Company or by a Participating Company, or to interfere with the right of the
Company or a Participating Company to discharge any person at any time without
regard to the effect that such discharge will have upon such person's rights or
potential rights, if any, under this Agreement. The provisions of this Agreement
are in addition to, and not a limitation on, any rights a Optionee may have
against the Company or a Participating Company by reason of any employment or
other agreement with the Company or a Participating Company.

       

      12. In the
event of any stock dividend, stock split, reverse stock split, recapitalization,
combination, reclassification or similar change in the capital structure of the
Company, appropriate adjustments shall be made in the exercise price per share
of any outstanding Option Shares.

       

      13. The
Optionee acknowledges having received and read a copy of this Agreement and
agrees to comply with all laws, rules and regulations applicable to the Award
and to the sale or other disposition of the Stock of the Company
received.

       

      14. Any
notice to the Company provided for in this Agreement shall be addressed to it in
care of its Secretary at its executive offices located at 229 Andover Street,
Wilmington, Massachusetts, 01887, and any notice to the Optionee shall be
addressed to the Optionee at the address currently shown on the payroll records
of the Company.  Any notice shall be deemed duly given if and when
properly addressed and posted by registered or certified mail, postage
prepaid.

       

      15. If any
provision of this Agreement is held to be illegal or invalid for any reason, the
remaining provisions are to remain in full force and effect and are to be
construed and enforced in accordance with the purposes of this Agreement as if
the illegal or invalid provision or provisions did not exist.

       

      16. Until the
Option Shares are registered, each certificate representing the Option Shares
shall be stamped or otherwise imprinted with a legend substantially in the
following form:

       

       

      THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR IF APPLICABLE, STATE SECURITIES
LAWS.  THESE SHARES MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR
HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH
SECURITIES ACT AND APPLICABLE STATE LAWS OR COMPLIANCE WITH AN APPLICABLE
EXEMPTION THEREFROM, SUCH COMPLIANCE, AT THE OPTION OF THE COMPANY, TO BE
EVIDENCED BY AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT
SUCH REGISTRATION IS NOT REQUIRED

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

       

      IN WITNESS WHEREOF, the
Company has caused its duly authorized officers to execute this nonqualified
Stock Option Agreement, and the Optionee has placed his or her signature hereon,
effective as of the Grant Date.

       

      CARDIOTECH
INTERNATIONAL, INC.

       

      By: /s/ Michael
Szycher

      Name:  Michael
Szycher

      Title:    Chief
Executive Officer

       

      

       

      ACCEPTED
AND AGREED TO:

       

      By: /s/ Andrew
Reed

      Andrew
Reed

      Optionee

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}]]