Document:

1990 Stock Option Plan

 Exhibit 10.4 
  
 DIAMETRICS MEDICAL, INC. 
 AMENDED AND RESTATED 
 1990 STOCK OPTION PLAN 
 (as amended April 29, 2004) 
  
 1. Purpose of Plan. 
  
 This Plan shall be known as the “DIAMETRICS MEDICAL, INC. 1990 STOCK OPTION PLAN” and is hereinafter referred to as the “Plan.”
The purpose of the Plan is to aid in maintaining and developing personnel capable of assuring the future success of Diametrics Medical, Inc., a Minnesota corporation (the “Company”), to offer such personnel additional incentives to put
forth maximum efforts for the success of the business, and to afford them an opportunity to acquire a proprietary interest in the Company through stock options and other long-term incentive awards as provided herein. Options granted under this Plan
may be either incentive stock options (“Incentive Stock Options”) within the meaning of Section 422 of the Internal Revenue Code of 1986 (the “Code”), or options which do not qualify as Incentive Stock Options. Awards granted
under this Plan shall be SARs, restricted stock or performance awards as hereinafter described. 
  
 2. Stock Subject to Plan. 
  
 Subject to the provisions of Section 15 hereof, the stock to be subject to options or other awards under the Plan shall be the Company’s authorized
but unissued shares of Common Stock, par value $.01 per share. Such shares may be either authorized but unissued shares, or issued shares which have been reacquired by the Company. Subject to adjustment as provided in Section 15 hereof, the maximum
number of shares on which options may be exercised or other awards issued under this Plan shall be 7,200,000 shares. If an option or award under the Plan expires, or for any reason is terminated or unexercised with respect to any shares, such shares
shall again be available for options or awards thereafter granted during the term of the Plan. 
  
 3. Administration of Plan. 
  
 (a) The Plan shall be administered by a committee (the “Committee”) of two or more members of the Board of Directors of the Company, none of
whom shall be officers or employees of the Company and all of whom shall be “disinterested persons” with respect to the Plan within the meaning of Rule 16b-3 under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), or any successor rule or regulation thereto. The members of any such committee shall be appointed by and serve at the pleasure of the Board of Directors. 
  
 (b) The Committee shall have plenary authority in its discretion, but subject to the express provisions of the Plan: (i) to
determine the purchase price of the Common Stock covered by each option or award, (ii) to determine the employees to whom and the time or times at which such options and awards shall be granted and the number of shares to be subject to each, (iii)
to determine the form of payment to be made upon the exercise of an SAR or in connection with performance awards, either cash, Common Stock of the Company or a combination thereof, (iv) to determine the terms of exercise of each option and award,
(v) to accelerate the time at which all or any part of an option or award may be exercised, (vi) to amend or modify the terms of any option or award with the consent of the optionee, (vii) to interpret the Plan, (viii) to prescribe, amend and
rescind rules and regulations relating to the Plan, (ix) to determine the terms and provisions of each option and award agreement under the Plan (which agreements need not be identical), including the designation of those options intended to be
Incentive Stock Options, and (x) to make all other determinations necessary or advisable for the administration of the Plan, subject to the exclusive authority of the Board of Directors under Section 16 herein to amend or terminate the Plan.

  
 (c) The Committee shall select one of its members as its
Chairman and shall hold its meetings at such times and places as it may determine. A majority of its members shall constitute a quorum, provided that if the Committee is comprised of no more than two members, all of its members must be present to
constitute a quorum. All 

  

 1 

 
determinations of the Committee shall be made by not less than a majority of its members, provided that if the Committee is comprised of no more than two
members, such determinations may not be made by less than all of its members. Any decision or determination reduced to writing and signed by all of the members of the Committee shall be fully effective as if it had been made by a majority vote at a
meeting duly called and held. The grant of an option or award shall be effective only if a written agreement shall have been duly executed and delivered by and on behalf of the Company following such grant. The Committee may appoint a Secretary and
may make such rules and regulations for the conduct of business as it shall deem advisable. 
  
 (d) The Chief Executive Officer of the Company shall have the authority, as granted by the Committee pursuant to clause (ix) of subsection (b) of this Section 3, to grant, pursuant to the Plan, options or other awards
to eligible persons who are not considered by the Company as its officers or directors for purposes of Section 16 of the Securities Exchange Act of 1934, as amended. The Chief Executive Officer of the Company shall provide information as to any
grants made pursuant to this subsection to the Committee at their next meeting. 
  
 4. Eligibility. 
  
 Incentive Stock Options may only be granted under this Plan to any full or part-time employee (which term as used herein includes, but is not limited to,
officers and directors who are also employees) of the Company and of its present and future subsidiary corporations within the meaning of Section 424(f) of the Code (herein called “subsidiaries”). Full or part-time employees, non-employee
directors, consultants or independent contractors to the Company or one of its subsidiaries shall be eligible to receive options which do not qualify as Incentive Stock Options and awards. In determining the persons to whom options and awards shall
be granted and the number of shares subject to each, the Committee may take into account the nature of services rendered by the respective employees or consultant their present and potential contributions to the success of the Company and such other
factors as the Committee in its discretion shall deem relevant. A person who has been granted an option or award under this Plan may be granted additional options or awards under the Plan if the Committee shall so determine; provided, however, that
for Incentive Stock Options granted after December 31, 1986, to the extent the aggregate fair market value (determined at the time the Incentive Stock Option is granted) of the Common Stock with respect to which all Incentive Stock Options are
exercisable for the first time by an employee during any calendar year (under all plans described in subsection (d) of Section 422 of the Code of his employer corporation and its parent and subsidiary corporations) exceeds $100,000, such options
shall be treated as options which do not qualify as Incentive Stock Options. Nothing in the Plan or in any agreement thereunder shall confer on any employee any right to continue in the employ of the Company or any of its subsidiaries or affect, in
any way, the right of the Company or any of its subsidiaries to terminate his or her employment at any time. 
  
 5. Price. 
  
 The option price for all Incentive Stock Options granted under the Plan shall be determined by the Committee but shall not be less than 100% of the fair
market value of the Common Stock at the date of grant of such option. The option price for options granted under the Plan which do not qualify as Incentive Stock Options and, if applicable, the price for all awards shall also be determined by the
Committee. For purposes of the preceding sentence and for all other valuation purposes under the Plan, the fair market value of shares of Common Stock shall be (i) the closing price of the Common Stock as reported for composite transactions if the
Common Stock is then traded on a national securities exchange, (ii) the last sale price if the Common Stock is then quoted on the NASDAQ National Market System, or (iii) the average of the closing representative bid and asked prices of the Common
Stock as reported on NASDAQ on the date as of which the fair market value is being determined. If on the date of grant of any option or award hereunder the Common Stock is not traded on an established securities market, the Committee shall make a
good faith attempt to satisfy the requirements of this Section 5 and in connection therewith shall take such action as it deems necessary or advisable. 
  

 2 

 6. Term. 
  
 Each option and award and all rights and obligations thereunder shall expire on the date determined by the Committee and
specified in the option or award agreement. The Committee shall be under no duty to provide terms of like duration for options or awards granted under the Plan, but the term of an Incentive Stock Option may not extend more than ten (10) years from
the date of grant of such option and the term of options granted under the Plan which do not qualify as Incentive Stock Options may not extend more than fifteen (15) years from the date of granting of such option. 
  
 7. Exercise of Option or Award. 
  
 (a) The Committee shall have full and complete authority to determine
whether an option or award will be exercisable in full at any time or from time to time during the term thereof, or to provide for the exercise thereof in such installments, upon the occurrence of such events (such as termination of employment for
any reason) and at such times during the term of the option as the Committee may determine and specify in the option or award agreement. 
  
 (b) The exercise of any option or award granted hereunder shall only be effective at such time that the sale of Common Stock pursuant to such exercise
will not violate any state or federal securities or other laws. Only to the extent required in order to comply with Rule 16b-3 under the Exchange Act, in the case of an option or other award granted to a person considered by the Company as one of
its officers or directors for purposes of Section 16 of the Exchange Act, the terms of the option or other award will require that such shares are not disposed of by such officer or director for a period of at least six months from the date of
grant. 
  
 (c) An optionee or grantee electing to exercise an
option or award shall give written notice to the Company of such election and of the number of shares subject to such exercise. The full purchase price of such shares shall be tendered with such notice of exercise. Payment shall he made to the
Company in cash (including bank check, certified check, personal check, or money order), or, at the discretion of the Committee and as specified by the Committee, (i) by delivering certificates for the Company’s Common Stock already owned by
the optionee or grantee having a fair market value as of the date of grant equal to the full purchase price of the shares, or (ii) by delivering the optionee’s or grantee’s promissory note, which shall provide for interest at a rate not
less than the minimum rate required to avoid the imputation of income, original issue discount or a below-market-rate loan pursuant to Sections 483, 1274 or 7872 of the Code or any successor provisions thereto, provided, however, that the interest
rate shall not be less than the market rate that would otherwise be available to the optionee or grantee from a third-party lender on the date of exercise of the option or award, as determined by the Committee, or (iii) a combination of cash, the
optionee’s or grantee promissory note and such shares. The fair market value of such tendered shares shall be determined as provided in Section 5 herein. The optionee’s or grantee’s promissory note shall be a full recourse liability
of the optionee and may, at the discretion of the Committee, be secured by a pledge of the shares being purchased. Until such person has been issued the shares subject to such exercise, he or she shall possess no rights as a shareholder with respect
to such shares. 
  
 8. Stock Appreciation
Rights. 
  
 (a) Grant. At the time of grant of an
option or award under the Plan (or at any other time), the Committee, in its discretion, may grant a Stock Appreciation Right (“SAR”) evidenced by an agreement in such form as the Committee shall from time to time approve. Any such SAR may
be subject to restrictions on the exercise thereof as may be set forth in the agreement representing such SAR, which agreement shall comply with and be subject to the following terms and conditions and any additional terms and conditions established
by the Committee that are consistent with the terms of the Plan. 
  
 (b) Exercise. An SAR shall be exercised by the delivery to the Company of a written notice which shall state that the holder thereof elects to exercise his or her SAR as to the number of shares specified in the notice and which shall
further state what portion, if any, of the SAR exercise amount (hereinafter defined) the holder thereof requests be 

  

 3 

 
paid to in cash and what portion, if any, is to be paid in Common Stock of the Company. The Committee promptly shall cause to be paid to such holder the SAR
exercise amount either in cash, in Common Stock of the Company, or any combination of cash and shares as the Committee may determine. Such determination may be either in accordance with the request made by the holder of the SAR or in the sole and
absolute discretion of the Committee. The SAR exercise amount is the excess of the fair market value of one share of the Company’s Common Stock on the date of exercise over the per share exercise price in respect of which the SAR was granted,
multiplied by the number of shares as to which the SAR is exercised. For the purposes hereof, the fair market value of the Company’s shares of Common Stock shall be determined as provided in Section 5 herein. 
  
 9. Restricted Stock Awards. 
  
 Awards of Common Stock subject to forfeiture and transfer restrictions may
be granted by the Committee. Any restricted stock award shall be evidenced by an agreement in such form as the Committee shall from time to time approve, which agreement shall comply with and be subject to the following terms and conditions and any
additional terms and conditions established by the Committee that are consistent with the terms of the Plan: 
  
 (a) Grant of Restricted Stock Awards. Each restricted stock award made under the Plan shall be for such number of shares of Common Stock as shall
be determined by the Committee and set forth in the agreement containing the terms of such restricted stock award. Such agreement shall set forth a period of time during which the grantee must remain in the continuous employment of the Company in
order for the forfeiture and transfer restrictions to lapse. If the Committee so determines, the restrictions may lapse during such restricted period in installments with respect to specified portions of the shares covered by the restricted stock
award. The agreement may also, in the discretion of the Committee, set forth performance or other conditions that will subject the Common Stock to forfeiture and transfer restrictions. The Committee may, at its discretion, waive all or any part of
the restrictions applicable to any or all outstanding restricted stock awards. 
  
 (b) Delivery of Common Stock and Restrictions. At the time of a restricted stock award, a certificate representing the number of shares of Common Stock awarded thereunder shall be registered in the name of the
grantee. Such certificate shall be held by the Company or any custodian appointed by the Company for the account of the grantee subject to the terms and conditions of the Plan, and shall bear such a legend setting forth the restrictions imposed
thereon as the Committee, in its discretion, may determine. The grantee shall have all rights of a shareholder with respect to the Common Stock, including the right to receive dividends and the right to vote such shares, subject to the following
restrictions: (i) the grantee shall not be entitled to delivery of the stock certificate until the expiration of the restricted period and the fulfillment of any other restrictive conditions set forth in the restricted stock agreement with respect
to such Common Stock; (ii) none of the shares of Common Stock may be sold, assigned, transferred, pledged, hypothecated or otherwise encumbered or disposed of during such restricted period or until after the fulfillment of any such other restrictive
conditions; and (iii) except as otherwise determined by the Committee, all of the Common Stock shall be forfeited and all rights of the grantee to such Common Stock shall terminate, without further obligation on the part of the Company, unless the
grantee remains in the continuous employment of the Company for the entire restricted period in relation to which such shares of Common Stock were granted and unless any other restrictive conditions relating to the restricted stock award are met.
Any Common Stock, any other securities of the Company and any other property (except for cash dividends) distributed with respect to the Common Stock subject to restricted stock awards shall be subject to the same restrictions, terms and conditions
as such restricted Common Stock. 
  
 (c) Termination of
Restrictions. At the end of the restricted period and provided that any other restrictive conditions of the restricted stock award are met, or at such earlier time as otherwise determined by the Committee, all restrictions set forth in the
agreement relating to the restricted stock award or in the Plan shall lapse as to the restricted Common Stock subject thereto, and a stock certificate for the appropriate number of shares of Common Stock, free of the restrictions and the restricted
stock legend, shall be delivered to the grantee or his beneficiary or estate, as the case may be. 

  

 4 

 10. Performance Awards. 
  
 The Committee is further authorized to grant performance awards
(“Performance Award”). Subject to the terms of this Plan and any applicable award agreement, Performance Awards granted under the Plan (i) may be denominated or payable in cash, Common Stock (including, without limitation, restricted
stock), other securities, other awards, or other property and (ii) shall confer on the holder thereof rights valued as determined by the Committee, in its discretion, and payable to, or exercisable by, the holder of the Performance Awards, in whole
or in part, upon the achievement of such performance goals during such performance periods as the Committee, in its discretion, shall establish. Subject to the terms of this Plan and any applicable award agreement, the performance goals to be
achieved during any performance period, the length of any performance period, the amount of any Performance Awards granted, and the amount of any payment or transfer to be made by the grantee and by the Company under any Performance Awards shall be
determined by the Committee. 
  
 11. Income
Tax Withholding and Tax Bonuses. 
  
 (a) In order to comply
with all applicable federal or state income tax laws or regulations, the Company may take such action as it deems appropriate to ensure that applicable federal or state payroll, withholding, income or other taxes, which are the sole and absolute
responsibility of an optionee or grantee under the Plan, are withheld or collected from such optionee or grantee at the required tax withholding rate. In order to assist an optionee or grantee in paying all federal and state taxes to be withheld or
collected upon exercise of an option or award which does not qualify as an Incentive Stock Option hereunder, the Committee, in its absolute discretion and subject to such additional terms and conditions as it may adopt, shall permit the optionee or
grantee to satisfy such tax obligation by (i) electing to have the Company withhold a portion of the shares otherwise to be delivered upon exercise of such option or award with a fair market value, determined in accordance with Section 5 herein,
equal to the required tax withholding or (ii) delivering to the Company Common Stock other than the shares issuable upon exercise of such option or award with a fair market value, determined in accordance with Section 5, equal to the required tax
withholding. The “required” tax withholding is the employer’s minimum statutory withholding based on minimum statutory withholding rates for federal and state tax purposes, including employee payroll taxes, that are applicable to an
optionee’s or grantee’s taxable income generated upon exercise of an option or award. Withholdings in excess of the required tax withholding are not allowed. 
  
 (b) The Committee shall have the authority, at the time of grant of an option under the Plan or at any time thereafter, to
approve tax bonuses to designated optionees or grantees to be paid upon their exercise of options or awards granted hereunder. The amount of any such payments shall be determined by the Committee. The Committee shall have full authority in its
absolute discretion to determine the amount of any such tax bonus and the terms and conditions affecting the vesting and payment thereafter. 
  
 12. Additional Restrictions. 
  
 The Committee shall have full and complete authority to determine whether all or any part of the Common Stock of the Company acquired upon exercise of any
of the options or awards granted under the Plan shall be subject to restrictions on the transferability thereof or any other restrictions affecting in any manner the optionee’s or grantee’s rights with respect thereto, but any such
restriction shall be contained in the agreement relating to such options or awards. 
  
 13. Ten Percent Shareholder Rule. 
  
 Notwithstanding any other provision in the Plan, if at the time an option is otherwise to be granted pursuant to the Plan the optionee owns directly or
indirectly (within the meaning of Section 424(d) of the Code) Common Stock of the Company possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or its parent or subsidiary corporations, if
any (within the meaning of Section 422(b)(6) of the Code), then any Incentive Stock Option to be granted to such optionee pursuant to the Plan shall satisfy the requirements of Section 

  

 5 

 
422(c)(5) of the Code, and the option price shall be not less than 110% of the fair market value of the Common Stock of the Company determined as described
herein, and such option by its terms shall not be exercisable after the expiration of five (5) years from the date such option is granted. 
  
 14. Non-Transferability. 
  
 No option may be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than (i) by will or by the laws of descent or
distribution, or (ii) in the case of options that are not Incentive Stock Options, to members of the optionee’s immediate family or to one or more trusts for the benefit of the optionee or members of his or her immediate family, and the option
may be exercised, during the lifetime of the Optionee, only by the optionee or a permitted transferee. 
  
 15. Dilution or Other Adjustments. 
  
 If there shall be any change in the Common Stock through merger, consolidation, reorganization, recapitalization, dividend in the form of stock (of
whatever amount), stock split or other change in the corporate structure, appropriate adjustments in the Plan and outstanding options and awards shall be made by the Committee. In the event of any such changes, adjustments shall include, where
appropriate, changes in the aggregate number of shares subject to the Plan, the number of shares and the price per share subject to outstanding options and awards and the amount payable upon exercise of outstanding awards, in order to prevent
dilution or enlargement of option or award rights. 
  
 16. Amendment or Discontinuance of Plan. 
  
 The
Board of Directors may amend or discontinue the Plan at any time. Subject to the provisions of Section 15 no amendment of the Plan, however, shall without shareholder approval: (i) increase the maximum number of shares under the Plan as provided in
Section 2 herein, (ii) decrease the minimum price provided in Section 5 herein, (iii) extend the maximum term under Section 6, or (iv) modify the eligibility requirements for participation in the Plan. The Board of Directors shall not alter or
impair any option or award theretofore granted under the Plan without the consent of the holder of the option. 
  
 17. Time of Granting. 
  
 Nothing contained in the Plan or in any resolution adopted or to be adopted by the Board of Directors or by the shareholders of the Company, and no action
taken by the Committee or the Board of Directors (other than the execution and delivery of an option or award agreement), shall constitute the granting of an option or award hereunder. 
  
 18. Effective Date and Termination of Plan. 
  
 (a) The Plan was approved by the Board of Directors on June 29, 1990 and
shall be approved by the shareholders of the Company within twelve (12) months thereof. 
  
 (b) Unless the Plan shall have been discontinued as provided in Section 16 hereof, the Plan shall terminate June 29, 2005. No option or award may be granted after such termination, but termination of the Plan shall
not, without the consent of the optionee or grantee, alter or impair any rights or obligations under any option or award theretofore granted. 
  

 61995 Employee Stock Purchase Plan

 Exhibit 10.5 
 DIAMETRICS MEDICAL, INC. 
 1995 EMPLOYEE STOCK PURCHASE PLAN 
 (as amended April 29, 2004) 
  
 ARTICLE I. INTRODUCTION 
  
 Section 1.01. Purpose. The purpose of the Diametrics Medical, Inc. 1995 Employee Stock Purchase Plan (the “Plan”) is to provide employees
of Diametrics Medical, Inc., a Minnesota corporation (the “Company”), and certain related corporations with an opportunity to share in the ownership of the Company by providing them with a convenient means for regular and systematic
purchases of the Company’s Common Stock, par value $.01 per share, and, thus, to develop a stronger incentive to work for the continued success of the Company. 
  
 Section 1.02. Rules of Interpretation. It is intended that the Plan be an “employee stock purchase plan” as
defined in Section 423(b) of the Internal Revenue Code of 1986, as amended (the “Code”), and Treasury Regulations promulgated thereunder. Accordingly, the Plan shall be interpreted and administered in a manner consistent therewith if so
approved. All Participants in the Plan will have the same rights and privileges consistent with the provisions of the Plan. 
  
 Section 1.03. Definitions. For purposes of the Plan, the following terms will have the meanings set forth below: 
  
 (a) “Acceleration Date” means the earlier
of the date of shareholder approval or approval by the Company’s Board of Directors of (i) any consolidation or merger of the Company in which the Company is not the continuing or surviving corporation or pursuant to which shares of Company
Common Stock would be converted into cash, securities or other property, other than a merger of the Company in which shareholders of the Company immediately prior to the merger have the same proportionate ownership of stock in the surviving
corporation immediately after the merger; (ii) any sale, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all of the assets of the Company; or (iii) any plan of liquidation or dissolution of
the Company. 
  
 (b) “Affiliate”
means any subsidiary corporation of the Company, as defined in Section 424(f) of the Code, whether now or hereafter acquired or established. 
  
 (c) “Committee” means the committee described in Section 10.01. 
  
 (d) “Company” means Diametrics Medical,
Inc., a Minnesota corporation, and its successors by merger or consolidation as contemplated by Article XI herein. 
  
 (e) “Current Compensation” means all regular base wage or salary payments paid by the Company to a Participant in accordance
with the terms of his or her employment, but excluding annual bonus payments and all other forms of special compensation. 
  
 (f) “Fair Market Value” as of a given date means such value of the Common Stock as reasonably determined by the
Committee, but shall not be less than (i) the closing price of the Common Stock as reported for composite transactions if the Common Stock is then traded on a national securities exchange, (ii) the last sale price if the Common Stock is then quoted
on the NASDAQ National Market System, or (iii) the average of the closing representative bid and asked prices of the Common Stock as reported on NASDAQ on the date as of which the fair market value is being determined. If on a given date the Common
Stock are not traded on an established securities market, the Committee shall make a good faith attempt to satisfy the requirements of this Section 1.03 and in connection therewith shall take such action as it deems necessary or advisable.

 (g) “Full-Time Employee” means an employee of the Company or a
Participating Affiliate as of the first day of a Purchase Period who has worked for the company for at least 90 days, including an officer or director who is also an employee, but excluding an employee whose customary employment is less than 20
hours per week, provided, however, that for the initial Purchase Period, all employees whose customary employment exceeds 20 hours per week shall be eligible to participate regardless of the number of days they have been employed by the Company.

  
 (h) “Participant” means a
Full-Time Employee who is eligible to participate in the Plan under Section 2.01 and who has elected to participate in the Plan. 
  
 (i) “Participating Affiliate” means an Affiliate which has been designated by the Committee in advance of the Purchase
Period in question as a corporation whose eligible Full-Time Employees may participate in the Plan. 
  
 (j) “Plan” means the Diametrics Medical, Inc. 1995 Employee Stock Purchase Plan, as amended, the provisions of which are
set forth herein. 
  
 (k) “Purchase
Period” means the approximate 3-month periods beginning on the first business day in January, April, July and October of each year and ending on the last business day in the following March, June, September and December, respectively;
provided that the initial Purchase Period will commence on July 3, 1995 and will terminate on September 29, 1995. 
  
 (l) “Common Stock” means the Company’s Common Stock, $.01 par value, as such stock may be adjusted for changes in
the Company as contemplated by Article XI herein. 
  
 (m) “Stock Purchase Account” means the account maintained on the books and records of the Company recording the amount received from each Participant through payroll deductions made under the Plan. 
  
 ARTICLE II. ELIGIBILITY AND PARTICIPATION 
  
 Section 2.01. Eligible Employees. All Full-Time Employees shall be
eligible to participate in the plan beginning on the first day of the first Purchase Period to commence after such person becomes a Full-Time Employee. Subject to the provisions of Article VI, each such employee will continue to be eligible to
participate in the Plan so long as he or she remains a Full-Time Employee. 
  
 Section 2.02. Election to Participate. An eligible Full-Time Employee may elect to participate in the Plan for a given Purchase Period by filing with the Company, in advance of that Purchase Period and in
accordance with such terms and conditions as the Committee in its sole discretion may impose, a form provided by the Company for such purpose which authorizes regular payroll deductions from Current Compensation beginning with the first payday in
that Purchase Period and continuing until the employee withdraws from the Plan or ceases to be eligible to participate in the Plan. 
  
 Section 2.03. Limits on Stock Purchase. No employee shall be granted any right to purchase Common Stock hereunder if such employee, immediately
after such right to purchase is granted, would own, directly or indirectly, within the meaning of Section 423(b)(3) and Section 424(d) of the Code, Common Stock possessing 5% or more of the total combined voting power or value of all the classes of
the capital stock of the Company or all Affiliates. 
  
 Section
2.04. Voluntary Participation. Participation in the Plan on the part of a Participant is voluntary and such participation is not a condition of employment nor does participation in the Plan entitle a Participant to be retained as an employee.

  

 2 

 ARTICLE III. PAYROLL DEDUCTIONS, COMPANY CONTRIBUTIONS AND STOCK PURCHASE ACCOUNT

  
 Section 3.01. Deduction from Pay. The form
described in Section 2.02 will permit a Participant to elect payroll deductions of any multiple of 1% but not less than 1% or more than 10% of such Participant’s Current Compensation for each pay period, subject to such other limitations as the
Committee in its sole discretion may impose. A Participant may cease making payroll deductions at any time, subject to such limitations as the Committee in its sole discretion may impose. 
  
 Section 3.02. Credit to Account. Payroll deductions will be credited to the Participant’s Stock Purchase Account
on each payday, and Company contributions will be credited to the Participant’s Stock Purchase Account on the last business day of the Purchase Period at the time of and in connection with the purchase of shares of Common Stock in accordance
with Article IV and V hereof. 
  
 Section 3.03. Interest.
No interest will be paid upon payroll deductions, Company contributions or on any amount credited to, or on deposit in, a Participant’s Stock Purchase Account. 
  
 Section 3.04. Nature of Account. The Stock Purchase Account is established solely for accounting purposes, and all
amounts credited to the Stock Purchase Account will remain part of the general assets of the Company or the Participating Affiliate (as the case may be). 
  
 Section 3.05. No Additional Contributions. A Participant may not make any payment into the Stock Purchase Account other than the payroll deductions
made pursuant to the Plan. 
  
 ARTICLE IV. RIGHT TO PURCHASE
SHARES 
  
 Section 4.01. Number of Shares. Each
Participant will have the right to purchase on the last business day of the Purchase Period all, but not less than all, of the largest number of whole shares of Common Stock that can be purchased at the price specified in Section 4.02 with the
entire credit balance in the Participant’s Stock Purchase Account, subject to the limitations that (a) no more than 2,000 shares of Common Stock may be purchased under the Plan by any one Participant for a given Purchase Period and
(b) in accordance with Section 423 (b)(8) of the Code, no more than $25,000 in Fair Market Value (determined at the beginning of each Purchase Period) of Common Stock and other stock may be purchased under the Plan and all other employee stock
purchase plans (if any) of the Company and the Affiliates by any one Participant for any calendar year. If the purchases for all Participants would otherwise cause the aggregate number of shares of Common Stock to be sold under the Plan to
exceed the number specified in Section 10.03, each Participant shall be allocated a pro rata portion of the Common Stock to be sold. 
  
 Section 4.02. Purchase Price. The purchase price for any Purchase Period shall be the lesser of (a) 85% of the Fair Market Value of the Common
Stock on the first business day of that Purchase Period or (b) 85% of the Fair Market Value of the Common Stock on the last business day of that Purchase Period, in each case rounded up to the next higher full cent. 
  
 ARTICLE V. EXERCISE OF RIGHT 
  
 Section 5.01. Purchase of Stock. On the last business day of a
Purchase Period, the entire credit balance in each Participant’s Stock Purchase Account will be used to purchase the largest number of whole shares of Common Stock purchasable with such amount (subject to the limitations of Section 4.01),
unless the Participant has filed with the Company, in advance of that date and subject to such terms and conditions as the Committee in its sole discretion may impose, a form provided by the Company which requests the distribution of the entire
credit balance in cash. 
  
 Section 5.02. Cash
Contributions. Any amount remaining in a Participant’s Stock Purchase Account after the last business day of a Purchase Period will be paid to the Participant in cash within 30 days after the end of that Purchase Period. 
  

 3 

 Section 5.03. Notice of Acceleration Date. The Company shall use its best efforts to notify each
Participant in writing at least ten days prior to any Acceleration Date that the then current Purchase Period will end on such Acceleration Date. 
  
 ARTICLE VI. WITHDRAWAL FROM PLAN: SALE OF STOCK 
  
 Section 6.01. Voluntary Withdrawal. A Participant may, in accordance with such terms and conditions as the Committee in its sole discretion may
impose, withdraw from the Plan and cease making a payroll deductions by filing with the Company a form provided for this purpose. In such event, the entire credit balance in the Participant’s Stock Purchase Account will be paid to the
Participant in cash within 30 days. A Participant who withdraws from the Plan will not be eligible to reenter the Plan until the beginning of the next Purchase Period following the date of such withdrawal. 
  
 Section 6.02. Death. Subject to such terms and conditions as the
Committee in its sole discretion may impose, upon the death of a Participant, no further amounts shall be credited to the Participant’s Stock Purchase Account. Thereafter, on the last business day of the Purchase Period during which such
Participant’s death occurred and in accordance with Section 5.01, the entire credit balance in such Participant’s Stock Purchase Account will be used to purchase Common Stock, unless such Participant’s estate has filed with the
Company, in advance of that day and subject to such terms and conditions as the Committee in its sole discretion may impose, a form provided by the Company which elects to have the entire credit balance in such Participant’s Stock Account
distributed in cash within 30 days after the end of that Purchase Period or at such earlier time as the Committee in its sole discretion may decide. Each Participant, however, may designate one or more beneficiaries who, upon death, are to receive
the Common Stock or the amount that otherwise would have been distributed or paid to the Participant’s estate and may change or revoke any such designation form time to time. No such designation, change or revocation will be effective unless
made by the Participant in writing and filed with the Company during the Participant’s lifetime. Unless the Participant has otherwise specified the beneficiary designation, the beneficiary or beneficiaries so designated will become fixed as of
the date of the death of the Participant so that, if a beneficiary survives the Participant but dies before the receipt of the payment due such beneficiary, the payment will be made to such beneficiary’s estate. 
  
 Section 6.03. Termination of Employment. Subject such terms and
conditions as the Committee in its sole discretion may impose, upon a Participant’s normal or early retirement with the consent of the Company under any pension or retirement plan of the Company or Participating Affiliate, no further amounts
shall be credited to the Participant’s Stock Purchase Account. Thereafter, on the last business day of the Purchase Period during which such Participant’s approved retirement occurred and in accordance with Section 5.01, the entire credit
balance in such Participant’s Stock Purchase Account will be used to purchase Common Stock, unless such Participant has filed with Company, in advance of that day and subject to such terms and conditions as the committee in its sole discretion
may impose, a form provided by the Company which elects to receive the entire credit balance in such Participant’s Stock Purchase Account in cash within 30 days after the end of that Purchase Period, provided that such Participant shall have no
right to purchase Common Stock in the event that the last day of such a Purchase Period occurs more than three months following the termination of such Participates employment with Company by reason of such an approved retirement. In the event of
any other termination of employment (other than death) with the Company or a participating Affiliate, participation the Plan will cease on the date the Participant ceases to be a Full-Time Employee for any reason. In such event, the entire credit
balance in such Participant’s Stock Purchase Account will be paid to the Participant in cash within 30 days. For purposes of this Section 6.03, a transfer of employment to any Affiliate, or a leave of absence which has been approved by the
Committee, will not be deemed a termination of employment as a Full-Time Employee. 
  
 ARTICLE VII. NON-TRANSFERABILITY 
  
 Section 7.01. Nontransferable Right to Purchase. The right to purchase Common Stock hereunder may not be assigned, transferred, pledged or hypothecated (whether by operation of law or otherwise), except as provided in Section 6.02,
and will not be subject to execution, attachment or similar process. Any attempted assignment, transfer, pledge, hypothecation or other disposition or levy of attachment or similar process upon the right to purchase will be null and void and without
effect. 
  

 4 

 Section 7.02. Nontransferable Account. as provided in Section 6.02, the amounts credited to a
Stock Purchase Account may not be assigned, transferred, pledged or hypothecated in any way, and any attempted assignment, transfer, pledge, hypothecation or other disposition of such amounts will be null and void and without effect. 
  
 ARTICLE VIII. STOCK CERTIFICATES 
  
 Section 8.01. Delivery. Promptly after the last day of each Purchase
Period and subject to such terms and conditions as the Committee in its sole discretion may impose, the Company will cause to be delivered to or for the benefit of the Participant a certificate representing the Common Stock purchased on the last
business day of such Purchase Period. 
  
 Section 8.02.
Securities Laws. The Company shall not be required to issue or deliver any certificate representing Common Stock prior to registration under the Securities Act of 1933, as amended, or registration or qualification under any state law if such
registrations required. The Company shall use its best efforts to accomplish such registration (if and to the extent required) not later than a reasonable time following the Purchase Period, and delivery of certificates may be deferred until such
registration is accomplished. 
  
 Section 8.03. Completion of
Purchase. A Participant shall have no interest in the Common Stock purchased until a certificate representing the same is issued to or for the benefit of the Participant. 
  
 Section 8.04. Form of Ownership. The certificates representing Common Stock issued under the Plan will be registered
in the name of the Participant or jointly in the name of the Participant and another person, as the Participant may direct on a form provided by the Company. 
  
 ARTICLE IX. EFFECTIVE DATE AMENDMENT AND TERMINATION OF PLAN 
  
 Section 9.01. Effective Date. The Plan was approved by the Board of Directors of the Company on April 19, 1995, and
will be approved by the shareholders within 12 months of such date. 
  
 Section 9.02. Plan Commencement. The initial Purchase Period under the Plan will commence on July 3,1995. Thereafter each succeeding Purchase Period will commence and terminate in accordance with Section 1.03(k). 
  
 Section 9.03. Powers of Board. The Board of Directors may amend or
discontinue the Plan at any time. No amendment or discontinuation of the Plan, however, shall without shareholder approval be made that (i) absent such shareholder approval, would cause Rule 16b-3 under the Securities Exchange Act of 1934, as
amended (the “Act”) to become unavailable with respect to the Plan, (ii) requires shareholder approval under any rules or regulations of the National Association of Securities Dealers, Inc. or any securities exchange that are applicable to
the Company, or (iii) permit the issuance of Common Stock before payment therefor in full. 
  
 Section 9.04. Automatic Termination. The Plan shall automatically terminate when all of the shares of Common Stock provided for in Section 10.03 have been sold. 
  
 ARTICLE X. ADMINISTRATION 
  
 Section 10.01. The Committee. The Plan shall be administered by a
committee (the “Committee”) of two or more directors of the none of whom shall be officers or employees of the Company and all of whom shall be “disinterested persons” with respect to the Plan within the meaning of Rule 16b-3
under the Act. The members of the committee shall be appointed by and serve at the pleasure of the Board of Directors. 
  
 Section 10.02. Powers of Committee. Subject to the provisions of the Plan, the Committee shall have full authority to administer the plan,
including authority to interpret and construe any provision of the Plan, to establish deadlines by which the various administrative forms must be received in order to be effective, and to adopt such other rules and regulations for administrating the
Plan as it may deem appropriate. The Committee shall have full 

  

 5 

 
and complete authority to determine whether all or any part of the Common Stock acquired pursuant to the Plan shall be subject to restriction on the
transferability thereof or any other restrictions affecting in any manner a Participant’s rights with respect thereto but any such restrictions shall be contained in the form by which a Participant elects to participate in the Plan pursuant to
Section 2.02. Decisions of the Committee will be final and binding on all parties who have an interest in the Plan. 
  
 Section 10.03. Stock to be Sold. The Common Stock to be issued and sold under the Plan may be treasury shares or authorized but unissued shares, or
the Company may purchase Common Stock in the market for sale under the Plan. Except as provided in Section 11.01, the aggregate number of shares of Common Stock to be sold under the Plan will not exceed 900,000 shares. 
  
 Section 10.04. Notices. Notices to the Committee should be addressed
as follows: 
  
 Compensation Committee

  
 Diametrics Medical, Inc. 
  
 3050 Centre Pointe Drive, Suite 150 
  
 Roseville, Minnesota 55113 
  
 ARTICLE XI. ADJUSTMENT FOR CHANGES IN STOCK OR COMPANY 
  
 Section 11.01. Stock dividend or Reclassification. If the outstanding
shares of Common Stock are increased, decreased, changed into or exchanged for a different number or kind of securities of the Company, or shares of a different par value or without par value, through reorganization, recapitalization,
reclassification, stock dividend, stock split, amendment to the Company’s certificate of Incorporation, reverse stock split or otherwise, and appropriate adjustment shall be made in the maximum numbers and kind of securities to be purchased
under the Plan with a corresponding adjustment in the purchase price to be paid therefor. 
  
 Section 11.02. Merger or Consolidation. If the Company is merged into or consolidated with one or more corporations during the term of the Plan, appropriate adjustments will be made to give effect thereto on an
equitable basis in terms of issuance of shares of the corporation surviving the merger or of the consolidated corporation, as the case may be. 
  
 ARTICLE XII. APPLICABLE LAW 
  
 Rights to purchase Common Stock granted under the Plan shall be construed and shall take effect in accordance with the laws of the State of Minnesota.

  

 6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00070-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00070-of-00352.parquet"}]]