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Exhibit 10.52

PROTEONOMIX, INC. AND PROTEODERM, INC.

 KISHORE AHUJA, M.D.

MULTI-CENTER COSMECEUTICAL STUDY AGREEMENT

THIS AGREEMENT is made and entered into as of the 1st day of March, 2010, by and-among Proteonomix, Inc., a Delaware corporation and Proteoderm, Inc., a New York corporation, both with offices at 187 Mill Lane, Mountainside, NJ 07092 (respectively "PX" and "PD," collectively “PX/PD"); and Kishore Ahuja, M.D., with offices at One Woodbridge Center Suite 400, Woodbridge, New Jersey 07095 ("Dr. Ahuja”) (collectively the "Parties").

WHEREAS, PX is a biomedical company engaged in the fields of stem cell therapies and regenerative medicine; and

WHEREAS, PX's subsidiary, PD, has developed a line of cosmeceutical skin care products containing its patent-pending molecule Matrix NC-138"tm (the "Products"); and

WHEREAS, PD wishes to conduct a clinical study on the use of the Products and their effect on aging and aged skin, and particularly with regard to wrinkles (the "Study"); and

WHEREAS, Dr. Ahuja is an allergist and immunologist in private medical practice; and

WHISEAS, Dr. Ahuja has offered to serve as a clinical investigator for the Study (“Clinical Investigator”); and

WHEREAS, the Parties wish to set forth and clarify the terms of their respective involvement in the Study;

NOW, THEREFORE, in consideration of the mutual premises and the consideration herein set forth, the Parties agree as follows:

l.

Nature and Purpose of the Study. The Study shall be conducted in order to document the clinical benefits of the Products on aging and aged skin, particularly with regard to wrinkles.

2.

Parameters of the Study. The "Proposal for Design and Implementation of Multi-Center Proteoderm Study” is attached hereto as Exhibit A (the 'Proposal") and is incorporated into this Agreement as if set forth in its entirety below.

3.

Roles and Responsibilities. In his role as a Clinical Investigator for the Study, Dr. Ahuja shall fulfill the duties set forth in the Proposal at sites in Woodbridge, New Jersey, Paramus, New Jersey and The Bronx, New York. PX/PD will provide a sufficient number of cosmeceutical kits as set forth in the Proposal, and will provide technical support as requested from Dr. Ahuja from time to time. PX/PD will also retain the services of a statistician to compile the data from the Study and prepare a written report, unless, as set forth in the Proposal, Dr. Ahuja should choose to be responsible to compile the data and prepare a report.

4.

Compensation. For his participation in the Study through the date of completion, together with any post-Study matters set forth in the Proposal, Dr. Ahuja shall be entitled to compensation as follows:

 

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Dr. Ahuja shall receive fifteen (15,000) thousand options (“Options”) to purchase shares of the common stock of PX. The Options will vest as follows: 5,000 Options upon signing this Agreement; 5,000 Options upon the entry of a minimum of 150 patients who have signed the consent form to participate in the Study and 5,000 Options upon delivery of the report at the conclusion of the Study involving a minimum of 150 patients among the three sites. The Options shall be exercisable to purchase shares of the common stock of PX for a period of five years from the date of issuance at $3.50 per share.

Upon the exercise of any Options granted hereunder, Dr. Ahuja shall receive certificates bearing a legend restricting public sale of the restricted shares of the common stock of PX unless and until there exists an effective registration statement relating to the shares of common stock underlying the Options or an exemption therefrom.

In addition, Dr. Ahuja will receive cash compensation as follows:

$5,000 per center once all patients in a specific center as set forth in paragraph 3 above are enrolled and $15,000 at the completion of the study involving the three centers.

5.

Additional Benefit. Dr. Ahuja shall be allowed to keep data including copies of all photographs taken of patients during the Study (the “Data”), for his own medical use which he may employ to show future patients the beneficial effects of the Products following conclusion of the Study; and any other usage is prohibited without the written consent of PX or PD. All intellectual property rights to the Data are owned by PX and PD.

6.

Confidentiality. PX and PD and Dr. Ahuja shall enter into a non-disclosure and confidentiality agreement prior to the commencement of his participation as a Clinical Investor for the Study. 

7.

Time Devoted to Performance. Dr. Ahuja shall devote sufficient time with regard to his other commitments to perform the duties as set forth in the Proposal.

8.

Applicable Law. This Agreement shall be interpreted in accordance with the internal laws of the State of New York without regard to its conflicts of interest laws.

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written.

PROTEONOMIX, INC.

PROTEODERM, INC.

By: /s/ Michael Cohen 

By: /s/ Michael Cohen

       Michael Cohen, 

         Michael Cohen,

       President 

         President

/s/ Kishore Ahuja, M.D.

Kishore Ahuja, M.D.

-3-EXHIBIT 10.1

 

CORNELL
COMPANIES, INC.

 

RESTRICTED STOCK AWARD AGREEMENT

 

(Profitability & Time-Based)

 

This
Award Agreement is made effective as of April 1, 2010 (the “Date of Grant”)
by CORNELL COMPANIES, INC. (the “Company”) to                              (the “Participant”).

 

1.             Grant.

 

(a)           Shares.  Pursuant to the Company’s 2006 Incentive Plan,
as amended and restated (the “Plan”),                                    contingent, profitability
and time-based restricted shares (the “Restricted Shares”) of the Company’s
common stock, par value $0.001 (the “Common Stock”), will be issued as
hereinafter provided in the Participant’s name. 
Such Restricted Shares shall be subject to certain restrictions as
hereinafter described pursuant to the Plan and this Award Agreement.  The Restricted Shares will accumulate (but
not vest) in accordance with the provisions of Section 2(d) and will
vest in accordance with the provisions of Section 2(e).  The exact number of Restricted Shares that
will actually accumulate and thereafter vest and be earned by you (if any) is
expressly subject to the accumulation and vesting requirements described below.

 

(b)           Issuance of Shares.  The Restricted Shares will be issued upon
acceptance of this Award Agreement by the Participant.  The Restricted Shares may, in the discretion
of the Company, be issued in either book entry or certificate form.  During the period the Restricted Shares are
subject to the prohibitions and restrictions set forth herein with respect to
the sale or other disposition of the Restricted Shares and the obligation to
forfeit and surrender such Restricted Shares to the Company (the “Forfeiture
Restrictions”) any certificates representing the Restricted Shares shall bear a
restrictive legend to the effect that ownership of such Restricted Shares (and
any such Retained Distributions (as that term is defined below)), and the
enjoyment of all rights appurtenant thereto, are subject to the restrictions,
terms, and conditions provided in the Plan and this Award Agreement.  The Participant shall have the right to vote
the Restricted Shares awarded to the Participant and to receive and retain all
cash dividends with respect to such Restricted Shares, and to exercise all
other rights, powers and privileges of a holder of the Common Stock, with
respect to such Restricted Shares, with the exception that (a) the Participant
shall not be entitled to delivery of the stock certificate or certificates
representing such Restricted Shares or electronic delivery of the such
Restricted Shares until the Forfeiture Restrictions applicable thereto shall
have expired, (b) the Company shall retain custody of all Retained
Distributions made or declared with respect to the Restricted Shares (and such
Retained Distributions shall be subject to the same 

 

 

restrictions,
terms and conditions as are applicable to the Restricted Shares) until such
time, if ever, as the Restricted Shares with respect to which such Retained
Distributions shall have been made, paid, or declared shall have become vested,
and such Retained Distributions shall not bear interest or be segregated in
separate accounts and (c) the Participant may not sell, assign, transfer,
pledge, exchange, encumber, or dispose of the Restricted Shares or any Retained
Distributions during the period in which the Restricted Shares may not be sold,
assigned, transferred, pledged, or otherwise encumbered (the “Restricted Period”).  Upon issuance of any certificates for the Restricted
Shares such certificate shall be delivered to the Secretary of the Company or
to such other depository as may be designated by the Company as a depository
for safekeeping until the forfeiture of such Restricted Shares occurs or the
Forfeiture Restrictions lapse, together with stock powers or other instruments
of assignment, each endorsed in blank, which will permit transfer to the
Company of all or any portion of the Restricted Shares and any securities
constituting Retained Distributions which shall be forfeited in accordance with
the Plan and this Award Agreement.  For purposes of
this Award Agreement, the term “Retained Distribution” means any securities or
other property (other than cash dividends) distributed by the Company in
respect of the Restricted Shares during any Restricted Period.  To the extent that all or a portion of the
Restricted Shares vest as provided in this Agreement, the Company will
distribute such vested Shares to the Participant in a reasonable time period
after vesting, which may consist of share certificates or electronic transfer
to brokerage accounts required to be established by the Participant and such
shares of the Common Stock shall be transferable by the Participant  (except to the extent that any proposed
transfer would, in the opinion of counsel satisfactory to the Company,
constitute a violation of applicable securities law).  The Participant agrees that the Participant
may be required to open a brokerage account as directed by the Company for
administration of the Participants equity awards from the Company.

 

(c)           Plan Incorporated.  The Participant acknowledges receipt of a
copy of the Plan, and agrees that this grant of the Restricted Shares shall be
subject to all of the terms and provisions of the Plan, including future
amendments thereto, if any.

 

2.                                       Restrictions. The Participant hereby accepts the
Restricted Shares when issued and agrees with respect thereto as follows:

 

(a)           In the event of termination of the Participant’s
employment with the Company and all Affiliates as a result of an involuntary
termination without Cause (as hereinafter defined) by the Company and such
Affiliates, death or disability (each, an “Involuntary Event”), the Participant
shall vest (i) in any Restricted Shares accumulated through the date of
such event, (ii) if such event occurs following the completion of a calendar
year but prior to the time the performance determination is made and finalized
for such year, in any Restricted Shares that would otherwise have been
accumulated for that fiscal year, and (iii) in a proportionate amount
(based on the number of days in the fiscal year to the date such Involuntary
Event occurs) of Restricted Shares that would have accumulated in the fiscal
year during which the Involuntary Event occurs if positive income is achieved
(such vesting in (iii) to occur only if it is determined that positive
income is achieved for 

 

2

 

such
year). The Participant shall, for no consideration, forfeit to the Company any
remaining Restricted Shares that do not vest as described in the preceding
sentence.

 

(b)           “Cause” shall mean any of the
following events:

 

(i)            the conviction
of the Participant or a plea of guilty or of nolo
contendere by the Participant, whether or not appeal be taken, of
any misdemeanor, or felony crime, involving personal dishonesty, moral
turpitude or willfully violent conduct;

(ii)           the commission
of any act of theft, fraud, embezzlement or wrongful diversion of funds of the
Company or any Affiliate by the Participant, regardless of whether a criminal
conviction is pursued or obtained;

(iii)          gross business
misconduct by the Participant, provided that this shall not include any
negligence, omissions, actions or judgments, if made in good faith by the
Participant;

(iv)          the willful
violation by the Participant of federal or state securities laws, as determined
in good faith by the Company’s Board of Directors;

(v)           the violation
of the Company’s policies and procedures, provided such conduct results in
substantial harm to the Company or any Affiliate;

(vi)          the material
breach by the Participant of his or her fiduciary and loyal duties to the
Company or any Affiliate;

(vii)         if the
Participant and the Company or any Affiliate have entered into an employment
agreement, the material breach by the Participant of any provision of such
agreement not fully remedied within twenty (20) days of written notice from
Company or such Affiliate.

 

To
the extent that the Participant and the Company or any Affiliate have entered
into an employment agreement that requires certain determinations or procedures
by the Company, such Affiliate, its Board or Directors or the Participant prior
to a finding of cause, then such determinations and/or procedures shall be
deemed incorporated into this definition of Cause for so long as such
employment agreement is in force.

 

(c)           Except as may be otherwise provided
in the Plan or this Award Agreement, in the event of termination of the
Participant’s employment with the Company and all Affiliates prior to April 1,
2013 for any reason other than an Involuntary Event, the Participant shall, for
no consideration, forfeit to the Company all Restricted Shares, including any
Restricted Shares that may have accumulated prior to the time of termination.

 

The Committee may, in its
discretion and pursuant to the Plan, accelerate the time at which vesting
conditions have been achieved with respect to any Restricted Shares that have
previously been accumulated under Section 2(d).

 

(d)           Subject in all respects to
this Agreement, the Restricted Shares shall accumulate (but not vest) as
follows:  one-third (1/3) of the
Restricted Shares shall accumulate for each calendar year of the performance
period (eg, 2010, 2011 and 2012) for which the 

 

3

 

Company achieves positive net income provided that the
Participant remains employed with the Company at the date of determination of
performance results as described below, except as otherwise provided in Section 2(a).
 Except as otherwise provided in Section 2(a),
accumulated Restricted Shares are not earned or vested until three (3) years
following the Date of Grant as provided in Section 2(e).

 

(e)           Determination of Performance
Results.  Income shall be calculated and
determined by the Company.  The
Compensation Committee of the Board of Directors of the Company, in its sole
and exclusive discretion, may, within ninety (90) days of the beginning of the
applicable performance period (in accordance with Section 162(m) of
the Internal Revenue Code of 1986, as amended) adjust the calculation of net
income for items similar to (but not limited to):

 

i.      Changes to accounting standards as required by GAAP or
Financial Accounting Standard Board (FASB) after the performance goal has been
set;

 

ii.     Unbudgeted capital transactions, including the
expenses related to the transaction;

 

iii.    Any profit or loss attributable to the business
operations of any entity acquired by the Company during the year with greater
than 5% impact to net income that was unbudgeted.

 

Any
and all adjustments made by the Compensation Committee as set forth above shall
be made for each calculation of net income during the performance period.

 

The Participant expressly agrees that (i) the Company shall, in its
sole and absolute discretion, so calculate and determine net income, and (ii) Company’s
determination will be conclusive, final and binding.

 

(f)    Except as otherwise provided
in Section 2(a), the
Restricted Shares, to the extent accumulated, will vest on April 1, 2013,
provided that the Participant remains employed with the Company at April 1,
2013.  Any shares of Restricted
Stock that did not accumulate on or prior to April 1, 2013 shall be
forfeited and shall revert back to the Company without any payment to you, and
you shall not thereafter have any rights with respect to such shares of
Restricted Stock.

 

3.             Transfer Restrictions.  The Restricted Shares granted hereunder are
not transferable by the Participant and may not be sold, assigned, pledged,
exchanged, hypothecated or otherwise transferred, encumbered or disposed of
(other than by will or the applicable laws of descent and distribution) to the
extent then subject to the Forfeiture Restrictions.  Any such attempted sale, assignment, pledge,
exchange, hypothecation, transfer, encumbrance or disposition in violation of
this Agreement shall be void and the Company shall not be bound thereby.  Further, the Restricted Shares granted hereby
that are no longer subject to Forfeiture Restrictions may not be sold or
otherwise disposed of in any manner that would constitute a violation of any
applicable 

 

4

 

federal
or state securities laws.  The Participant
also agrees (a) that the Company may refuse to cause the transfer of the
Restricted Shares to be registered on the applicable stock transfer records if
such proposed transfer would in the opinion of counsel satisfactory to the
Company constitute a violation of any applicable securities law and (b) that
the Company may give related instructions to the transfer agent, if any, to
stop registration of the transfer of the Restricted Shares.

 

4.             Taxes.  All distributions under this Award are subject to
withholding of all applicable taxes. 
Subject to the rules as may be established by the Committee, such
withholding obligations may be satisfied through the surrender of Restricted Shares
that the Participant is otherwise entitled to under the Plan.

 

5.             Binding.  This Award shall be binding upon and inure to the
benefit of any successor to the Company and all persons lawfully claiming under
the Participant.

 

6.             Defined Terms.  Unless otherwise specifically defined herein, each capitalized
term used herein which is defined in the Plan shall have the meaning assigned
such term in the Plan.

 

7.             Amendment;
Modification.  This Award may be amended by agreement of
the Participant and the Company, without the consent of any other person.  The Company shall have the rights of
amendment and modification set forth in the Plan.

 

8.             Governing Law.  This Award shall be governed by, and
construed in accordance with the laws of the State of Texas.

 

9.             Restrictions on Resale.  Other than the restrictions expressly
described herein, there are no additional restrictions imposed by the Plan on
the resale of vested Restricted Shares acquired under the Plan.  However, under the provisions of the
Securities Act of 1933 (the “Securities Act”) and the rules and
regulations of the Securities and Exchange Commission (the “SEC”), resales of
shares acquired under the Plan by certain officers and directors of the Company
who may be deemed to be “affiliates” of the Company must be made pursuant to an
appropriate effective registration statement filed with the SEC, pursuant to
the provisions of Rule 144 issued under the Securities Act, or pursuant to
another exemption from registration provided in the Securities Act.  At the present time, the Company does not
have a currently effective registration statement pursuant to which such
resales may be made by affiliates.  These
restrictions do not apply to persons who are not affiliates of the Company;
provided, however, that all employees are subject to the Company’s policies
against insider trading, and restrictions on resale may be imposed by the
Company from time-to-time as may be necessary under applicable law.

 

10.           Capital Adjustments and
Reorganizations.  The existence of
the Restricted Shares shall not affect in any way the right or power of the
Company or any company the stock of which is awarded pursuant to this Award Agreement
to make or authorize any adjustment, recapitalization, reorganization or other
change in its capital structure or its business, engage in any merger or
consolidation, issue any debt or equity securities, dissolve or liquidate, or
sell, 

 

5

 

lease,
exchange or otherwise dispose of all or any part of its assets or business, or
engage in any other corporate act or proceeding.

 

11.           Section 83(b) Election.  The Participant shall not exercise the
election permitted under section 83(b) of the Code with respect to the Restricted
Shares without the written approval of the Chief Financial Officer of the
Company.

 

12.           Legend.  The Participant consents to the placing on
the certificate for the Restricted Shares of an appropriate legend restricting
resale or other transfer of the Restricted Shares except in accordance with the
Securities Act of 1933 and all applicable rules thereunder.

 

13.           Effect on Other Benefits.  Income recognized by the Participant as a
result of the grant or vesting of the Restricted Shares or dividends on the
Restricted Shares will not be included in the formula for calculating benefits
under any of the Company’s retirement and disability plans or any other benefit
plans of the Company.

 

14.           Recoupment
of Awards. The Company’s Board of Directors adopted a
recoupment policy on April 30, 2009 (the “Policy”), that may require an officer of the Company to return
incentive compensation if there is a restatement of the financial results and
the Board determines that the restatement was due, in whole or in part, to the
fraudulent or intentional misconduct of such officer.  Participant acknowledges and agrees that, if
Participant is an officer, the Policy applies to this Award Agreement and that
any payments or issuances of Common Stock with respect to the Award Agreement
may be subject to recoupment pursuant to the terms of the Policy. This Award
Agreement shall be deemed to include the restrictions imposed by the Policy.

 

By signing this Award Agreement, the Participant
acknowledges acceptance of the terms and conditions set forth herein and in the
Plan.

 

 

PARTICIPANT

 

	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  CORNELL COMPANIES, INC.

  	
   

  

 

 

	
  By:

  	
   

  	
   

  
	
  Name:

  	
  Patrick N.
  Perrin

  	
   

  
	
   

  	
  Title:  Senior Vice President

  	
   

  
	
   

  	
  Chief
  Administrative Officer

  	
   

  
				

 

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