Document:

ex10-1.htm

 

AMENDMENT AGREEMENT

 

THIS AGREEMENT is dated for reference June 25, 2010.

 

BETWEEN:

 

YALE RESOURCES LTD., a corporation organized under the laws of the Province of British Columbia, Canada

 

(“Yale”)

 

AND:

 

DEL TORO SILVER CORP. (formerly Candev Resource Exploration Inc.), a corporation organized under the laws of the State of Nevada, U.S.A.

 

(“Del Toro”)

 

WHEREAS:

 

	
A.

	
Pursuant to an Option Agreement between Yale and Del Toro dated July 7, 2009 (the “Option Agreement”), Yale granted an option to Del Toro to acquire 80% of Yale’s undivided right, title and interest in and to the Dos Naciones Property (as such term defined in the Option Agreement).

 

B.          The Parties have agreed to amend certain provisions of the Option Agreement as set out herein.

 

NOW THEREFORE, in consideration of the sum of $10.00 paid by each party to the other and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by each party, the parties hereto agree as follows:

 

1.           Unless otherwise defined in this Agreement, all capitalized terms used in this Agreement have the meaning ascribed to such term in the Option Agreement.

 

2.           Subsection 2.2.2 (i) of the Option Agreement is hereby deleted in its entirety and subsection 2.2.2 (ii) is hereby replaced with the following:

 

“on or before the date which is two (2) years after the Effective Date, Del Toro (formerly Candev) will fund Expenditures aggregating CDN $400,000 on the Property, and”

 

3.           Upon the issuance of 150,000 shares of the common stock of Del Toro the Option Agreement will be deemed to be amended in all manners and respects in order to give full force and effect to this Agreement and, in all other respects, the Option Agreement will remain unchanged and in full force and effect.

 

4.           This Agreement may be executed in multiple counterparts and all counterparts taken together shall be deemed to constitute one and the same document.  This Agreement may be executed and delivered by facsimile or electronic transmission.

 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written.

 

	
YALE RESOURCES LTD.

	
DEL TORO SILVER CORP.

	
 

Per:  /s/ signed

	
 

Per:  Mark McLeary

	
Authorized Signatory

	
Authorized SignatoryExhibit 10.1

 

THE SPECTRANETICS CORPORATION

2010 EMPLOYEE STOCK PURCHASE PLAN

 

ARTICLE I.

PURPOSE, SCOPE AND ADMINISTRATION OF THE PLAN

 

1.1           Purpose and Scope.  The purpose of this Spectranetics Corporation
2010 Employee Stock Purchase Plan (the “Plan”) is to assist employees of
The Spectranetics Corporation and its Designated Subsidiaries in acquiring a
stock ownership interest in the Company pursuant to a plan which is intended to
qualify as an “employee stock purchase plan” under Section 423 of the
Internal Revenue Code of 1986, as amended.

 

1.2           Administration of Plan.  The Plan shall be administered by the
Committee.  The Committee shall have the
power to make, amend and repeal rules and regulations for the
interpretation and administration of the Plan consistent with the qualification
of the Plan under Section 423 of the Code, and the Committee is also
authorized to change the Offering Periods and Exercise Dates under the Plan by
providing notice to all Eligible Employees as soon as practicable prior to the
date on which such changes will take effect. 
The Committee may delegate administrative tasks under the Plan to one or
more Employees of the Company.  The
Committee’s interpretation and decisions with respect to the Plan shall be
final and conclusive.

 

ARTICLE II.

DEFINITIONS

 

Whenever
the following terms are used in the Plan, they shall have the meaning specified
below unless the context clearly indicates to the contrary.  The singular pronoun shall include the plural
where the context so indicates.

 

2.1           “Administrator” shall
mean the Committee, or such individuals to which authority to administer the
Plan has been delegated under Section 1.2.

 

2.2           “Board” shall mean
the Board of Directors of the Company.

 

2.3           “Code” shall mean the
Internal Revenue Code of 1986, as amended.

 

2.4           “Committee” shall
mean the Compensation Committee of the Board.

 

2.5           “Common Stock” shall
mean shares of common stock, par value $.001, of the Company.

 

2.6           “Company” shall mean
The Spectranetics Corporation, a Delaware corporation.

 

2.7           “Compensation” shall
mean the base salary or wages, including commissions paid to sales employees,
overtime pay and shift premiums but excluding bonuses and other incentive
payments, paid to an Employee by the Company or a Designated Subsidiary in
accordance with established payroll procedures.

 

 

2.8           “Designated
Subsidiary” shall mean the Subsidiaries that have been
designated by the Committee from time to time in its sole discretion as
eligible to participate in the Plan, including any Subsidiary in existence on
the Effective Date and any Subsidiary formed or acquired following the
Effective Date.

 

2.9           “Effective Date”
shall mean the date the Plan is adopted by the Board, subject to its approval
by stockholders of the Company in accordance with the Company’s bylaws,
articles of incorporation and applicable state law within twelve months
following the date the Plan is adopted by the Board.

 

2.10         “Eligible Employee”
means an Employee of the Company or any Designated Subsidiary who does not,
immediately after the Option is granted, own (directly or through attribution)
stock possessing five percent or more of the total combined voting power or
value of all classes of Stock or other stock of the Company, a Parent
Corporation or a Subsidiary Corporation (as determined under Section 423(b)(3) of
the Code).  For purposes of the
foregoing, the rules of Section 424(d) of the Code with regard
to the attribution of stock ownership shall apply in determining the stock
ownership of an individual, and stock which an Employee may purchase under
outstanding options shall be treated as stock owned by the Employee.  Notwithstanding the foregoing, the
Administrator may determine in its discretion, and if so determined, shall set forth
in the terms of the applicable Offering, that an Employee of the Company or any
Designated Subsidiary shall not be eligible to participate in such Offering if:
(1) such Employee has been in the employ of the Company or any Designated
Subsidiary for less than two years (or any shorter period); (2) such
Employee’s customary employment with the Company or any Designated Subsidiary
is twenty hours or less per week and/or not more than five months per calendar
year (or any lesser number of hours per week or months per calendar year); (3) such
Employee is a “highly compensated employee” of the Company or any Designated
Subsidiary (within the meaning of Section 414(q) of the Code), or is
such a “highly compensated employee” (A) with compensation above a
specified level, (B) who is an officer and/or (C) is subject to the
disclosure requirements of Section 16(a) of the Exchange Act; and/or (4) such
employee is a citizen or resident of a foreign jurisdiction and the grant of an
Option under the Plan or Offering is prohibited under the laws of such foreign
jurisdiction, or compliance with the laws of such foreign jurisdiction would
cause the Plan or Offering to violate the requirements of Section 423 of
the Code; provided, that any exclusion in clauses (1), (2), (3) and (4) shall
be applied in an identical manner under each Offering to all employees of the
Company and all Designated Subsidiaries, in accordance with Treasury Regulation
Section 1.423-2(e).

 

2.11         “Employee” shall mean
any person who renders services to the Company or a Designated Subsidiary in
the status of an employee within the meaning of Section 3401(c) of
the Code.  “Employee” shall not include
any director of the Company or a Designated Subsidiary who does not render
services to the Company or a Designated Subsidiary as an employee within the
meaning of Section 3401(c) of the Code.  For purposes of the Plan, the employment
relationship shall be treated as continuing intact while the individual is on
sick leave or other leave of absence approved by the Company or Designated
Subsidiary and meeting the requirements of Treasury Regulation Section 1.421-1(h)(2)
Where the period of leave exceeds three (3) months and the individual’s
right to reemployment is not guaranteed either by statute or

 

2

 

by contract, the employment relationship shall be
deemed to have terminated on the first day immediately following such three
(3)-month period.

 

2.12         “Enrollment Date” shall mean the first
Trading Day of each Offering Period.

 

2.13         “Exchange Act” shall
mean the Securities Exchange Act of 1934, as amended.

 

2.14         “Exercise Date”
except as provided in Section 5.2, shall mean the last Trading Day of each
Offering Period.

 

2.15         “Fair Market Value” mean, as of any date, the
value of a share of Common Stock determined as follows:

 

(a)           If the Common Stock is
listed on any established stock exchange or a national market system, including
without limitation the Nasdaq National Market or The Nasdaq SmallCap Market of
The Nasdaq Stock Market, its Fair Market Value shall be the closing sales price
for such stock (or the closing bid, if no sales were reported) as quoted on
such exchange or system on the Exercise Date, as reported in The Wall Street Journal or such other source as the
Administrator deems reliable;

 

(b)           If the Common Stock is
regularly quoted by a recognized securities dealer but selling prices are not
reported, its Fair Market Value shall be the mean of the closing bid and asked
prices for the Common Stock on the Exercise Date as reported in The Wall Street Journal or such other source as the
Administrator deems reliable; or

 

(c)           In the absence of an
established market for the Common Stock, the Fair Market Value thereof shall be
determined in good faith by the Administrator.

 

2.16         “Offering” means each
distinct offering of Options made under this Plan, within the meaning of
Treasury Regulation 1.423-2(a).

 

2.17         “Offering Period”
shall mean (i) the period commencing on July 1 and ending on the last
Trading Day of the Semiannual Period in which such date occurs, and (ii) thereafter,
the period commencing on the first day of each subsequent Semiannual Period and
terminating on the last Trading Day of such Semiannual Period.

 

2.18         “Option” shall mean
the right to purchase shares of Common Stock pursuant to the Plan during each
Offering Period.

 

2.19         “Option Price” shall
mean the purchase price of a share of Common Stock hereunder as provided in Section 4.2
below.

 

2.20         “Parent” means any
corporation, other than the Company, in an unbroken chain of corporations ending
with the Company if, at the time of the determination, each of the

 

3

 

corporations other than the Company owns stock
possessing 50% or more of the total combined voting power of all classes of
stock in one of the other corporations in such chain.

 

2.21         “Participant” shall
mean any Eligible Employee who elects to participate in the Plan.

 

2.22         “Plan” shall mean
this Spectranetics Corporation 2010 Employee Stock Purchase Plan, as it may be
amended from time to time.

 

2.23         “Plan Account” shall
mean a bookkeeping account established and maintained by the Company in the
name of each Participant.

 

2.24         “Semiannual Period”
shall mean, as applicable, the six-month period commencing on January 1
and ending on June 30, or the six-month period commencing on July 1
and ending on December 31.

 

2.25         “Subsidiary” shall
mean any corporation, other than the Company, in an unbroken chain of
corporations beginning with the Company if, at the time of the determination,
each of the corporations other than the last corporation in an unbroken chain
owns stock possessing 50% or more of the total combined voting power of all
classes of stock in one of the other corporations in such chain; provided,
however, that a limited liability company or partnership may be treated as a
Subsidiary to the extent either (i) such entity is treated as a
disregarded entity under Treasury Regulation Section 301.7701-3(a) by
reason of the Company or any other Subsidiary which is a corporation being the sole
owner of such entity, or (ii) such entity elects to be classified as a
corporation under Treasury Regulation Section 301.7701-3(a) and such
entity would otherwise qualify as a Subsidiary.

 

2.26         “Trading Day” shall
mean a day on which national stock exchanges are open for trading.

 

ARTICLE III.

PARTICIPATION

 

3.1           Eligibility.

 

(a)           Any Eligible Employee who
shall be employed by the Company or a Designated Subsidiary on a given
Enrollment Date for an Offering Period shall be eligible to participate in the
Plan during such Offering Period, subject to the requirements of Articles IV
and V, and the limitations imposed by Section 423(b) of the Code and
the Treasury Regulations thereunder.

 

(b)           No Eligible Employee shall
be granted an Option under the Plan which permits his rights to purchase stock
under the Plan, and to purchase stock under all other employee stock purchase
plans of the Company, any Parent or any Subsidiary subject to the Section 423,
to accrue at a rate which exceeds $25,000 of Fair Market Value of such stock
(determined at the time the option is granted) for each calendar year in which
the Option is outstanding at any time. 
For purposes of the limitation imposed by this subsection, the right to
purchase stock under an Option accrues when the Option (or any portion thereof)
first becomes

 

4

 

exercisable during the calendar year, the right to
purchase stock under an Option accrues at the rate provided in the Option, but
in no case may such rate exceed $25,000 of Fair Market Value of such stock
(determined at the time such option is granted) for any one calendar year, and
a right to purchase stock which has accrued under an Option may not be carried
over to any other Option.  This
limitation shall be applied in accordance with Section 423(b)(8) of
the Code and the Treasury Regulations thereunder.

 

3.2           Election to Participate;
Payroll Deductions

 

(a)           Except as provided in Section 3.3,
an Eligible Employee may participate in the Plan only by means of payroll
deduction.  An Eligible Employee may
elect to participate in the Plan by delivering to the Company by such time designated by the Administrator
preceding the Enrollment Date for such Offering Period a payroll deduction
authorization in such manner as prescribed by the Administrator.

 

(b)           Payroll deductions (i) shall
be equal to at least 2%, but not more than 15%,  of
the Participant’s Compensation; and (ii) must be expressed as a whole
number percentage, subject to the provisions of Section 3.1 hereof.  Amounts deducted from a Participant’s
Compensation pursuant to this Section 3.2 shall be credited to the
Participant’s Plan Account.

 

(c)           A Participant’s election to
participate in the Plan with respect to an Offering Period shall enroll such
Participant in the Plan for each successive Offering Period at the same payroll
deduction percentage as in effect at the termination of the prior Offering
Period, unless such Participant delivers to the Company a different election
with respect to the successive Offering Period by such time and in such manner
as is designated by the Administrator for enrollment in the Plan for such
successive Offering Period, or unless such Participant becomes ineligible for
participation in the Plan.

 

3.3           Leave of Absence.  During leaves of absence approved by the
Company meeting the requirements of Treasury Regulation Section 1.421-1(h)(2) under
the Code, a Participant may continue participation in the Plan by making cash
payments to the Company on his or her normal payday equal to his or her
authorized payroll deduction.

 

ARTICLE IV.

PURCHASE OF SHARES

 

4.1           Grant of Option.  Subject to the limitations of Section 3.1(b),
each Participant participating in such Offering Period shall be granted an
Option to purchase on the Exercise Date for such Offering Period (at the
applicable Option Price) up to a number of shares of Common Stock determined by
dividing such Participant’s payroll deductions accumulated prior to such
Exercise Date and retained in the Participant’s Plan Account on such Exercise
Date by the applicable Option Price; provided that in no event shall a
Participant be permitted to purchase during each Offering Period more than
2,500 shares of Common Stock (subject to any adjustment pursuant to Section 5.2).  The Administrator may, for future Offering
Periods, increase or decrease, in its absolute discretion, the maximum number
of shares of Common

 

5

 

Stock that a Participant may purchase during such
future Offering Periods.  The Option
shall expire on the last day of the Offering Period.

 

4.2           Option Price.  The Option Price per share of the Common
Stock sold to Participants hereunder shall be 85% of the Fair Market Value of
such share on either the Enrollment Date or the Exercise Date of the Offering
Period, whichever is lower, but in no event shall the Option Price per share be
less than the par value per share of the Common Stock.

 

4.3           Purchase of Shares.

 

(a)           On each Exercise Date on
which he or she is employed, each Participant will automatically and without
any action on his or her part be deemed to have exercised his or her Option to
purchase at the Option Price the largest number of whole shares of Common Stock
which can be purchased with the amount in the Participant’s Plan Account.  The balance, if any, remaining in the
Participant’s Plan Account (after exercise of his or her Option) as of an
Exercise Date shall be carried forward to the next Offering Period, unless the
Participant has elected to withdraw from the Plan pursuant to Section 6.1
below.

 

(b)           As soon as practicable
following each Exercise Date, the number of shares of Common Stock purchased by
such Participant pursuant to subsection (a) above will be delivered, in
the Company’s sole discretion, to either (i) the Participant, or (ii) an
account established in the Participant’s name at a stock brokerage or other
financial services firm designated by the Company.  If the Company is required to obtain from any
commission or agency authority to issue any such shares of Common Stock, the
Company will seek to obtain such authority. 
Inability of the Company to obtain from any such commission or agency
authority which counsel for the Company deems necessary for the lawful issuance
of any such shares shall relieve the Company from liability to any Participant
except to refund to him or her the amount withheld.

 

(c)           A Participant shall have the
right at any time to request in writing a certificate or certificates for all
or a portion of the whole shares of Common Stock purchased hereunder.  Upon receipt of a Participant’s written
request for any such certificate, the Company shall (or shall cause its agent
to), deliver any such certificate to the Participant as soon as practicable
thereafter.

 

4.4           Transferability Restrictions.

 

(a)           An Option granted under the
Plan shall not be transferable and is exercisable only by the Participant.   No option or
interest or right to the option shall be available to pay off any debts,
contracts or engagements of the Participant or his or her successors in
interest or shall be subject to disposition by pledge, encumbrance, assignment
or any other means whether such disposition be voluntary or involuntary or by
operation of law by judgment, levy, attachment, garnishment or any other legal
or equitable proceedings (including bankruptcy), and any attempt at disposition
of the option shall have no effect.

 

(b)           Without the consent of the
Administrator, no shares of Common Stock purchased under the Plan may be sold,
pledged, assigned, hypothecated, transferred, or otherwise disposed of
(collectively, “Transfer”)
by the Participant or his or her successors prior

 

6

 

to the first anniversary of the Exercise Date with
respect to such shares, other than by will or pursuant to the laws of descent
and distribution; provided, however, that the
foregoing transfer restrictions shall not apply to any Transfer of shares to
the Company or any Designated Subsidiary or any Transfer in connection with any
transaction described in Section 5.2(b) or (c).

 

ARTICLE V.

PROVISIONS RELATING TO COMMON STOCK

 

5.1           Common Stock Reserved.  Subject to adjustment as provided in Section 5.2,
the maximum number of shares of Common Stock that shall be made available for
sale under the Plan shall be 300,000. 
Shares of Common Stock made available for sale under the Plan may be
authorized but unissued shares or treasury shares, or shares reacquired in
private transactions or open market purchases.

 

5.2           Adjustments Upon Changes in
Capitalization, Dissolution, Liquidation, Merger or Asset Sale.

 

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

 

(b)           Dissolution or Liquidation.  In the event of the proposed dissolution or
liquidation of the Company, the Offering Period then in progress shall be
shortened by setting a new Exercise Date (the “New Exercise Date”), and
shall terminate immediately prior to the consummation of such proposed
dissolution or liquidation, unless provided otherwise by the
Administrator.  The New Exercise Date
shall be before the date of the Company’s proposed dissolution or
liquidation.  The Administrator shall
notify each Participant in writing, at least ten (10) business days
prior to the New Exercise Date, that the Exercise Date for the Participant’s
Option has been changed to the New Exercise Date and that the Participant’s
Option shall be exercised automatically on the New Exercise Date, unless prior
to such date the Participant has withdrawn from the Offering Period as provided
in Section 6.1 hereof.

 

(c)           Merger or Asset Sale.  In the event of a proposed sale of all or
substantially all of the assets of the Company, or the merger of the Company
with or into another corporation, where the Company is not the surviving
entity, or any other similar corporate

 

7

 

transaction, each outstanding Option shall be
assumed or an equivalent Option substituted by the successor corporation or a
Parent or Subsidiary of the successor corporation.  In the event that the successor corporation
refuses to assume or substitute for the Option, any Offering Periods then in
progress shall be shortened by setting a New Exercise Date and any Offering
Periods then in progress shall end on the New Exercise Date.  The New Exercise Date shall be before the
date of the Company’s proposed sale or merger. 
The Administrator shall notify each Participant in writing, at least ten
(10) business days prior to the New Exercise Date, that the Exercise Date
for the Participant’s Option has been changed to the New Exercise Date and that
the Participant’s Option shall be exercised automatically on the New Exercise
Date, unless prior to such date the Participant has withdrawn from the Offering
Period as provided in Section 6.1 hereof.

 

5.3           Insufficient Shares.  If the Administrator determines that, on a
given Exercise Date, the number of shares with respect to which Options are to
be exercised may exceed (i) the number of shares of Common Stock that were
available for issuance under the Plan on the Enrollment Date of the applicable Offering
Period, or (ii) the number of shares available for sale under the Plan on
such Exercise Date, the Administrator shall make a pro rata allocation of the
shares of Common Stock available for issuance on such Exercise Date in as
uniform a manner as shall be practicable and as it shall determine in its sole
discretion to be equitable among all Participants exercising Options to
purchase Common Stock on such Exercise Date, and unless additional shares are
authorized for issuance under the Plan, no further Offering Periods shall take
place. The Company may make pro rata allocation of the shares available on the
Enrollment Date of any applicable Offering Period pursuant to the preceding
sentence, notwithstanding any authorization of additional shares for issuance
under the Plan by the Company’s shareholders subsequent to such Enrollment
Date.  In such event, then the balance of
the amount credited to the Participant’s Plan Account which has not been
applied to the purchase of shares of Common Stock shall be paid to such
Participant in one lump sum in cash as soon as reasonably practicable after
such Exercise Date, without any interest thereon.

 

5.4           Rights as Stockholders.  With respect to shares of Common Stock
subject to an Option, a Participant shall not be deemed to be a stockholder and
shall not have any of the rights or privileges of a stockholder.  A Participant shall have the rights and
privileges of a stockholder when, but not until, a certificate has been issued
to him or her, or book entry of such shares has been made in his or her name,
following exercise of his or her Option.

 

ARTICLE VI.

TERMINATION OF PARTICIPATION

 

6.1           Cessation of Contributions;
Voluntary Withdrawal.

 

(a)           A Participant may cease
payroll deductions during an Offering Period by delivering written notice of
such cessation to the Company in such form and at such time prior to the
Exercise Date for such Offering Period as may be established by the
Administrator.  Upon any such cessation,
the Participant may elect either to withdraw from the Plan pursuant to Section 6.2
below or to have amounts credited to his or her Plan Account held in the Plan
for the purchase of Common Stock pursuant to Section 4.3 for such Offering
Period.  Upon
receipt of a notice of withdrawal from the Plan, the Participant’s payroll
deduction authorization and his or her Option to purchase under the Plan shall
terminate.

 

8

 

(b)           A Participant’s withdrawal
from an Offering Period shall not have any effect upon his or her eligibility
to participate in any similar plan which may hereafter be adopted by the
Company or in succeeding Offering Periods which commence after the termination
of the Offering Period from which the Participant withdraws.

 

(c)           A Participant who ceases
contributions to the Plan during any Offering Period shall not be permitted to
resume contributions to the Plan during that Offering Period.

 

6.2           Termination of Eligibility.  Upon a Participant’s ceasing to be an
Eligible Employee, for any reason, he or she shall be deemed to have elected to
withdraw from the Plan and the Participant’s Plan Account shall be paid to such
Participant or, in the case of his or her death, to the person or persons
entitled thereto under Section 7.2 hereof, as soon as reasonably
practicable and such Participant’s Option for the Offering Period shall be
automatically terminated.

 

ARTICLE VII.

GENERAL PROVISIONS

 

7.1           Administration.

 

(a)           It shall be the duty of the
Administrator to conduct the general administration of the Plan in accordance
with the provisions of the Plan.  The
Administrator shall have the power to interpret the Plan and the terms of the
options and to adopt such rules for the administration, interpretation,
and application of the Plan as are consistent therewith and to interpret, amend
or revoke any such rules.  The
Administrator at its option may utilize the services of an agent to assist in
the administration of the Plan including establishing and maintaining an
individual securities account under the Plan for each Participant.  In its absolute discretion, the Board may at
any time and from time to time exercise any and all rights and duties of the
Administrator under the Plan.

 

(b)           All expenses and liabilities
incurred by the Administrator in connection with the administration of the Plan
shall be borne by the Company.  The
Administrator may, with the approval of the Committee, employ attorneys,
consultants, accountants, appraisers, brokers or other persons.  The Administrator, the Company and its
officers and directors shall be entitled to rely upon the advice, opinions or
valuations of any such persons.  All
actions taken and all interpretations and determinations made by the
Administrator in good faith shall be final and binding upon all Participants,
the Company and all other interested persons. 
No member of the Board or Administrator shall be personally liable for
any action, determination or interpretation made in good faith with respect to
the Plan or the options, and all members of the Board or Administrator shall be
fully protected by the Company in respect to any such action, determination, or
interpretation.

 

7.2           Designation of Beneficiary.

 

(a)           A Participant may file a
written designation of a beneficiary who is to receive any shares and cash, if
any, from the Participant’s Plan Account under the Plan in the event of such
Participant’s death subsequent to an Exercise Date on which the Option is

 

9

 

exercised but prior to delivery to such Participant
of such shares and cash.  In addition, a
Participant may file a written designation of a beneficiary who is to receive
any cash from the Participant’s Plan Account in the event of such Participant’s
death prior to exercise of the Option. 
If a Participant is married and the designated beneficiary is not the
spouse, spousal consent shall be required for such designation to be effective.

 

(b)           Such designation of
beneficiary may be changed by the Participant at any time by written notice to
the Administrator.  In the event of the
death of a Participant and in the absence of a beneficiary validly designated
under the Plan who is living at the time of such Participant’s death, the
Company shall deliver such shares and/or cash to the executor or administrator
of the estate of the Participant, or if no such executor or administrator has
been appointed (to the knowledge of the Company), the Company, in its
discretion, may deliver such shares and/or cash to the spouse or to any one or
more dependents or relatives of the Participant, or if no spouse, dependent or
relative is known to the Company, then to such other person as the Company may
designate.

 

7.3           Reports.  Individual accounts shall be maintained for
each Participant in the Plan.  Statements
of Plan Accounts shall be given to Participants at least annually, which
statements shall set forth the amounts of payroll deductions, the Option Price,
the number of shares purchased and the remaining cash balance, if any.

 

7.4           Condition of Employment.  Neither the creation of the Plan nor an
Employee’s participation therein shall be deemed to create a contract of
employment, any right of continued employment or in any way affect the right of
the Company or a Subsidiary to terminate an Employee at any time with or
without cause.

 

7.5           Amendment and Termination of
the Plan

 

(a)           The Board may amend,
suspend, or terminate the Plan at any time and from time to time, provided that
approval by the Company’s stockholders shall be required to amend the Plan: (1) to
increase (other than an increase pursuant to Section 5.2(a) hereof)
the number of shares of Common Stock that may be sold pursuant to Options under
the Plan, or (2) in any manner that would cause the Plan to no longer be
an “employee stock purchase plan” within the meaning of Section 423(b) of
the Code.

 

(b)           Without stockholder consent
and without regard to whether any Participant rights may be considered to have
been “adversely affected,” the Administrator shall be entitled to change the
Offering Periods, limit the frequency and/or number of changes in the amount
withheld during an Offering Period, establish the exchange ratio applicable to
amounts withheld in a currency other than U.S. dollars, permit payroll
withholding in excess of the amount designated by a Participant in order to
adjust for delays or mistakes in the Company’s processing of properly completed
withholding elections, establish reasonable waiting and adjustment periods
and/or accounting and crediting procedures to ensure that amounts applied
toward the purchase of Common Stock for each Participant properly correspond
with amounts withheld from the Participant’s Compensation, and establish such
other limitations or procedures as the Administrator determines in its sole
discretion advisable which are consistent with the Plan.

 

10

 

(c)           In the event the Board
determines that the ongoing operation of the Plan may result in unfavorable
financial accounting consequences, the Board may, in its discretion and, to the
extent necessary or desirable, modify or amend the Plan to reduce or eliminate
such accounting consequence including, but not limited to:

 

(i)            altering the Option Price
for any Offering Period including an Offering Period underway at the time of
the change in Option Price;

 

(ii)           shortening any Offering
Period so that the Offering Period ends on a new Exercise Date, including an
Offering Period underway at the time of the Administrator action; and

 

(iii)          allocating shares of Common
Stock.

 

Such
modifications or amendments shall not require stockholder approval or the
consent of any Participant.

 

(d)           Upon termination of the
Plan, the balance in each Participant’s Plan Account shall be refunded as soon
as practicable after such termination, without any interest thereon.

 

7.6           Use of Funds; No Interest
Paid.  All funds received by the
Company by reason of purchase of Common Stock under the Plan will be included
in the general funds of the Company free of any trust or other restriction and
may be used for any corporate purpose. 
No interest will be paid to any Participant or credited under the Plan.

 

7.7           Term; Approval by
Stockholders.  The Plan
shall terminate on the tenth anniversary of the date of its initial adoption by
the Board, unless earlier terminated by action of the Board.  No Option may be granted during any period of
suspension of the Plan or after termination of the Plan.  The Plan will be submitted for the approval
of the Company’s stockholders within 12 months after the date of the Board’s
initial adoption of the Plan.  Options
may be granted prior to such stockholder approval; provided, however, that such
Options shall not be exercisable prior to the time when the Plan is approved by
the stockholders; provided further that if such approval has not been obtained
by the end of said 12-month period, all Options previously granted under the
Plan shall thereupon be canceled and become null and void.

 

7.8           Effect Upon Other Plans.  The adoption of the Plan shall not affect any
other compensation or incentive plans in effect for the Company or any
Subsidiary.  Nothing in the Plan shall be
construed to limit the right of the Company or any Subsidiary (a) to
establish any other forms of incentives or compensation for Employees of the
Company or any Subsidiary, or (b) to grant or assume Options otherwise
than under the Plan in connection with any proper corporate purpose, including,
but not by way of limitation, the grant or assumption of options in connection
with the acquisition, by purchase, lease, merger, consolidation or otherwise,
of the business, stock or assets of any corporation, firm or association.

 

7.9           Conformity to Securities
Laws.  Notwithstanding any other
provision of the Plan, the Plan and the participation in the Plan by any
individual who is then subject to

 

11

 

Section 16 of the Exchange Act shall be subject
to any additional limitations set forth in any applicable exemption rule under
Section 16 of the Exchange Act (including any amendment to Rule 16b-3
of the Exchange Act) that are requirements for the application of such
exemptive rule.  To the extent permitted
by applicable law, the Plan shall be deemed amended to the extent necessary to
conform to such applicable exemptive rule.

 

7.10         Notice of Disposition of
Shares.  The Company may require any
Participant to give the Company prompt notice of any disposition of shares of
Common Stock, acquired pursuant to the Plan, within two years after the
applicable Enrollment Date or within one year after the applicable Exercise
Date with respect to such shares.  The
Company may direct that the certificates evidencing shares acquired pursuant to
the Plan refer to such requirement.

 

7.11         Tax Withholding.  The Company shall be entitled to require
payment in cash or deduction from other compensation payable to each
Participant of any sums required by federal, state or local tax law to be
withheld with respect to any purchase of shares of Common Stock under the Plan
or any sale of such shares.

 

7.12         Governing Law.  The Plan and all rights and obligations
thereunder shall be construed and enforced in accordance with the laws of the
State of Delaware.

 

7.13         Notices.  All notices or other communications by a
Participant to the Company under or in connection with the Plan shall be deemed
to have been duly given when received in the form specified by the Company at
the location, or by the person, designated by the Company for the receipt
thereof.

 

7.14         Conditions To Issuance of
Shares.  The Company shall not be
required to issue or deliver any certificate or certificates for shares of
Common Stock purchased upon the exercise of Options prior to fulfillment of all
the following conditions:

 

(a)           The admission of such shares
to listing on all stock exchanges, if any, on which is then listed; and

 

(b)           The completion of any
registration or other qualification of such shares under any state or federal
law or under the rulings or regulations of the Securities and Exchange
Commission or any other governmental regulatory body, which the Administrator
shall, in its absolute discretion, deem necessary or advisable; and

 

(c)           The obtaining of any
approval or other clearance from any state or federal governmental agency which
the Administrator shall, in its absolute discretion, determine to be necessary
or advisable; and

 

(d)           The payment to the Company
of all amounts which it is required to withhold under federal, state or local
law upon exercise of the Option; and

 

(e)           The lapse of such reasonable
period of time following the exercise of the Option as the Administrator may
from time to time establish for reasons of administrative convenience.

 

12

 

7.15         Equal Rights and Privileges.  All Eligible Employees of the Company (or of
any Designated Subsidiary) will have equal rights and privileges under the Plan
so that the Plan qualifies as an “employee stock purchase plan” within the
meaning of Section 423 of the Code or applicable Treasury Regulations
thereunder.  Any provision of the Plan
that is inconsistent with Section 423 or applicable Treasury Regulations
thereunder will, without further act or amendment by the Company, the Board or
the Administrator, be reformed to comply with the equal rights and privileges
requirement of Section 423 or applicable Treasury Regulations thereunder.

 

7.16         Electronic Forms.  To the extent permitted by applicable state
law and in the discretion of the Administrator, an Eligible Employee may submit
any form or notice as set forth herein by means of an electronic form approved
by the Administrator.  Before the
commencement of an Offering Period, the Administrator shall prescribe the time
limits within which any such electronic form shall be submitted to the
Administrator with respect to such Offering Period in order to be a valid
election.

 

* * * * * *

 

I
hereby certify that the foregoing Spectranetics Corporation 2010 Employee Stock
Purchase Plan was duly approved by the Board of Directors of The Spectranetics
Corporation on March 9, 2010.

 

I
hereby certify that the foregoing Spectranetics Corporation 2010 Employee Stock
Purchase Plan was duly approved by the stockholders of The Spectranetics
Corporation on June 25, 2010.

 

Executed
on this 25th day of June, 2010.

 

	
   

  	
  /s/ Roger Wertheimer

  
	
   

  	
  Secretary

  

 

13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}]]