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Exhibit 10.3    
    

 
 

INVESTMENT MANAGEMENT TRUST AGREEMENT    
    

        This Agreement is made as of August    , 2006 by and between Restaurant Acquisition Partners, Inc., a Delaware corporation (the
"Company"), and Continental Stock Transfer & Trust Company, a            corporation
(the
"Trustee"). 

        WHEREAS,
the Company's Registration Statement, No. 333-129316 on Form S-1 ("Registration
Statement"), for its initial public offering of securities ("IPO") has been declared effective as of the date hereof by the
Securities and Exchange Commission ("Effective Date"); and 

        WHEREAS,
as described in the Company's Registration Statement, and in accordance with the Company's Second Amended and Restated Certificate of Incorporation, $28,040,000 of the gross
proceeds of the IPO ($33,325,000 if the underwriters' over-allotment option is exercised in full) will be delivered to the Trustee to be deposited and held in a trust account for the
benefit of the Company and the holders of the Company's common stock, par value $.0001 per share, issued in the IPO as hereinafter provided (the amount to be delivered to the Trustee will be referred
to herein as the "Property;" the stockholders for whose benefit the Trustee shall hold the Property will be referred to as the
"Public Stockholders," and the Public Stockholders and the Company will be referred to together as the
"Beneficiaries"); and 

        WHEREAS,
the Company and the Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the Property; 

        IT
IS AGREED: 

        1.    Agreements and Covenants of Trustee.    The Trustee hereby agrees and covenants: 

        (a)   That
the recitals above are made a part of this Agreement; 

        (b)   To
hold the Property in trust for the Beneficiaries in accordance with the terms of this Agreement, including the terms of
Section 11-51-302(6) of the Colorado Revised Statutes, in a segregated trust account ("Trust Account") established by the
Trustee at JPMorgan Chase; 

        (c)   To
manage, supervise and administer the Trust Account subject to the terms and conditions set forth herein; 

        (d)   In
a timely manner, upon the instruction of the Company, to invest and reinvest the Property in any "Government
Security." As used herein, Government Security means any Treasury Bill issued by the United States, having a maturity of one hundred and eighty days or less; 

        (e)   To
collect and receive, when due, all principal and income arising from the Property, which shall become part of the "Property," as such term is used herein; 

        (f)    To
release to the Company from time to time, upon the instruction of the Company, interest and other earnings on the Trust Account, up to maximum aggregate amount of
$1,750,000, after giving effect to applicable taxes. 

        (g)   To
notify the Company of all communications received by it with respect to any Property requiring action by the Company; 

        (h)   To
supply any necessary information or documents as may be requested by the Company in connection with the Company's preparation of the tax returns for the Trust
Account; 

        (i)    To
participate in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when instructed by the Company to do so; 

        (j)    To
render to the Company, at the addresses specified in Section 5(e) of this Agreement, and to such other person as the Company may instruct, monthly written
statements of the activities 

 

of
and amounts in the Trust Account reflecting all receipts and disbursements of the Trust Account; and 

        (k)   To
commence liquidation of the Trust Account only after receipt of and only in accordance with the terms of a letter ("Termination
Letter"), in a form substantially similar to that attached hereto as either Exhibit A or  Exhibit B, signed on behalf of
the Company by its Chief Executive Officer, President, Secretary or Chairman of the Board, and complete the
liquidation of the Trust Account and distribute the Property in the Trust Account only as directed in the Termination Letter and the other documents referred to therein. 

        2.    Agreements and Covenants of the Company.    The Company hereby agrees and covenants to: 

        (a)   Give
all instructions to the Trustee hereunder in writing, signed by the Company's Chief Executive Officer, President, Secretary or Chairman of the Board. In addition,
except with respect to its duties under paragraph 1(j) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction
which it in good faith believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in writing; 

        (b)   Hold
the Trustee harmless and indemnify the Trustee from and against, any and all expenses, including reasonable counsel fees and disbursements, or loss suffered by the
Trustee in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand which in any way arises out of or relates to
this Agreement, the services of the Trustee hereunder or the Property or any income earned from investment of the Property, except for expenses and losses resulting from the Trustee's breach of any
provision of this Agreement or gross negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding,
pursuant to which the Trustee intends to seek indemnification under this paragraph, it shall notify the Company in writing of such claim (hereinafter referred to as the
"Indemnified Claim"), and the Company shall have no liability for any Indemnified Claim to the extent prejudiced by the failure of the Trustee to give
notice promptly. The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim, provided, that the Trustee shall obtain the prior written consent of the Company
with respect to both the selection of counsel and the settlement of any claim, which consent shall not be unreasonably withheld. The Company may participate in such action with its own counsel; and 

        (c)   Pay
the Trustee an initial acceptance fee of $1,000 and an annual fee of $1,200 (it being expressly understood that the Property shall not be used to pay such fee). The
Company shall pay the Trustee
the initial acceptance fee and first year's fee at the consummation of the IPO and thereafter on the anniversary of the Effective Date. The Trustee shall refund to the Company the fee (on a pro rata
basis) with respect to any period after the liquidation of the Trust Fund. The Company shall not be responsible for any other fees or charges of the Trustee except as may be provided in
paragraph 2(b) hereof (it being expressly understood that the Property shall not be used to make any payments to the Trustee under such paragraph). 

        3.    Limitations of Liability.    The Trustee shall have no responsibility or liability to: 

        (a)   Take
any action with respect to the Property, other than as directed in paragraph 1 hereof and the Trustee shall have no liability to any party except for
liability arising out of its own gross negligence or willful misconduct; 

        (b)   Institute
any proceeding for the collection of any principal and income arising from, or institute, appear in or defend any proceeding of any kind with respect to, any
of the Property unless and until it shall have received instructions from the Company given as provided herein to 

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do
so and the Company shall have advanced or guaranteed to it funds sufficient to pay any expenses incident thereto; 

        (c)   Change
the investment of any Property, other than in compliance with paragraph 1(c); 

        (d)   Refund
any depreciation in principal of any Property; 

        (e)   Assume
that the authority of any person designated by the Company to give instructions hereunder shall not be continuing unless provided otherwise in such designation,
or unless the Company shall have delivered a written revocation of such authority to the Trustee; 

        (f)    The
other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted, in good faith and in the exercise
of its own best judgment, except for the Trustee's breach of any provision of this Agreement or its gross negligence or willful misconduct. The Trustee may rely conclusively and shall be protected in
acting upon any order, notice, demand, certificate, opinion or advice of counsel (including counsel chosen by the Trustee), statement, instrument, report or other paper or document (not only as to its
due execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability of any information therein contained) which is believed by the Trustee, in good faith, to
be genuine and to be signed or presented
by the proper person or persons. The Trustee shall not be bound by any notice or demand, or any waiver, modification, termination or rescission of this agreement or any of the terms hereof, unless
evidenced by a written instrument delivered to the Trustee signed by the proper party or parties and, if the duties or rights of the Trustee are affected, unless it shall give its prior written
consent thereto; 

        (g)   Verify
the correctness of the information set forth in the Registration Statement or to confirm or assure that any acquisition made by the Company or any other action
taken by it is as contemplated by the Registration Statement; and 

        (h)   Pay
any taxes on behalf of the Trust Account (it being expressly understood that the Property shall not be used to pay any such taxes and that such taxes, if any, shall
be paid by the Company from funds not held in the Trust Account). 

        4.    Termination.    This Agreement shall terminate as follows: 

        (a)   If
the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable efforts to locate a successor
trustee. At such time that the Company notifies the Trustee that a successor trustee has been appointed by the Company and has agreed to become subject to the terms of this Agreement, the Trustee
shall transfer the management of the Trust Account to the successor trustee, including but not limited to the transfer of copies of the reports and statements relating to the Trust Account, whereupon
this Agreement shall terminate; provided, however, that, in the event that the Company does not locate a successor trustee within ninety days of receipt of the resignation notice from the Trustee, the
Trustee may submit an application to have the Property deposited with the United States District Court for the Southern District of New York and upon such deposit, the Trustee shall be immune from any
liability whatsoever; 

        (b)   At
such time that the Trustee has completed the liquidation of the Trust Account in accordance with the provisions of paragraph 1(j) hereof, and distributed the
Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate except with respect to Paragraph 2(b); or 

        (c)   On
such date after August    , 2008, when the Trustee deposits the Property with the United States District Court for the Southern District of New York in the
event that, prior to such date, the Trustee has not received a Termination Letter from the Company pursuant to paragraph 1(j). 

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        5.    Miscellaneous.    

        (a)   The
Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to funds transferred from the Trust
Account. Upon receipt of written instructions, the Trustee will confirm such instructions with an Authorized Individual at an Authorized Telephone Number listed on the attached  Exhibit C. The
Company and the Trustee will each restrict access to confidential information relating to such security procedures to authorized
persons. Each party must notify the other party immediately if it has reason to believe unauthorized persons may have obtained access to such information, or of any change in its authorized personnel.
In executing funds transfers, the Trustee will rely upon account numbers or other identifying numbers of a beneficiary, beneficiary's bank or intermediary bank, rather than names. The Trustee shall
not be liable for any loss, liability or expense resulting from any error in an account number or other identifying number, provided it has accurately transmitted the numbers provided. 

        (b)   This
Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflict of laws. It may be
executed in several counterparts, each one of which shall constitute an original, and together shall constitute but one instrument. 

        (c)   This
Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. This Agreement or any provision hereof
may only be changed, amended or modified by a writing signed by each of the parties hereto. As to any claim, cross-claim or counterclaim in any way relating to this Agreement, each party waives the
right to trial by jury. 

        (d)   The
parties hereto consent to the jurisdiction and venue of any state or federal court located in the State of New York for purposes of resolving any disputes hereunder. 

        (e)   Any
notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing and shall be sent by express mail or
similar private courier service, by certified mail (return receipt requested), by hand delivery or by facsimile transmission: 

if
to the Trustee, to: 

Continental Stock Transfer & Trust Company

17 Battery Place

New York, NY 10004

Tel: [(    )    -    ]

Fax: [(    )    -    ] 

if
to the Company, to: 

Restaurant
Acquisition Partners, Inc.

5950 Hazeltine National Drive, Suite 290

Orlando, Florida 32822

Attn: Christopher R. Thomas, Chief Executive Officer and President

Tel: (407) 240-9190

Fax: (407) 240-9176 

With
a copy to: 

Pillsbury
Winthrop Shaw Pittman LLP

1540 Broadway

New York, New York 10036

Attn: Ronald A. Fleming, Jr., Esq.

Tel: (212) 858-1000

Fax: (212) 298-9931 

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        (f)    This
Agreement may not be assigned by the Trustee without the prior consent of the Company. 

        (g)   Each
of the Trustee and the Company hereby represents that it has the full right and power and has been duly authorized to enter into this Agreement and to perform its
respective obligations as contemplated hereunder. 

        (h)   The
Trustee acknowledges and agrees that it shall not make any claims or proceed against the Trust Account, including by way of set-off, and shall not be
entitled to any funds in the Trust Account under any circumstance. 

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        IN
WITNESS WHEREOF, the parties have duly executed this Investment Management Trust Agreement as of the date first written above. 

	 	 	Continental Stock Transfer & Trust Company
	

 	
 	

By:	
 	

          

	 	 	Name:

Title:	 	 
	

 	
 	

RESTAURANT ACQUISITION PARTNERS, INC.
	 	 	By:	 	          

	 	 	Name:

Title:	 	 

[SIGNATURE
PAGE TO INVESTMENT MANAGEMENT AGREEMENT] 

6

 
 
 

EXHIBIT A    
    
    RESTAURANT ACQUISITION PARTNERS, INC.    
    

[Insert Date]

	

	

	

Attn:

Re:
Trust Account No. [                        ]—Termination Letter 

Ladies
and Gentlemen: 

        Pursuant
to paragraph 1(j) of the Investment Management Trust Agreement between Restaurant Acquisition Partners, Inc., a Delaware corporation
("Company"), and Continental Stock Transfer & Trust Company Transfer Agent, a
            corporation ("Trustee"), dated as of August    , 2006 ("Trust Agreement"),
this is to advise you that the Company has entered into an agreement ("Business Agreement") with            ("Target
Business") to consummate a business combination with Target Business ("Business Combination") on or about [Insert
Date]. The Company shall notify you at least 48 hours in advance of the actual date of the consummation of the Business Combination ("Consummation
Date"). 

        In
accordance with the terms of the Trust Agreement, we hereby authorize you to commence liquidation of the Trust Account to the effect that, on the Consummation Date, all of the funds
held in the Trust Account will be immediately available for transfer to the account or accounts that the Company shall direct on the Consummation Date. 

        On
the Consummation Date (i) the Company shall deliver to you written notification that (a) the Business Combination has been consummated and (b) the provisions of
Section 11-51-302(6) and Rule 51-3.4 of the Colorado Revised Statutes have been met, and (ii) the Company shall deliver to you written instructions with respect to the transfer of
the funds held in the Trust Account ("Instruction Letter"). [Such Instruction Letter to include instructions to pay the deferred
underwriting discount the deferred non-accountable expense to the Underwriters.] You are hereby directed and authorized to transfer the funds held in the Trust Account
immediately upon your receipt of the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event that certain deposits held in the Trust Account may not be liquidated by
the Consummation Date without penalty, you will notify the Company of the same and the Company shall issue written instructions directing you as to whether such funds should remain in the Trust
Account and distributed after the Consummation Date to the Company. Upon the distribution of all the funds in the Trust Account pursuant to the terms hereof, the Trust Agreement shall be terminated. 

        In
the event that the Business Combination is not consummated on the Consummation Date described in the notice thereof and we have not notified you on or before the original Consummation
Date of a new Consummation Date, then the funds held in the Trust Account shall be reinvested as provided in the Trust Agreement on the business day immediately following the Consummation Date as set
forth in the notice. 

	 	 	Very truly yours,
	

 	
 	

Restaurant Acquisition Partners, Inc.
	

 	
 	

By:	
 	

          

	

 	
 	

By:	
 	

          

7

 
 
 

EXHIBIT B    
    
    RESTAURANT ACQUISITION PARTNERS, INC.    
    

[Insert Date]

	

	

	

Attn:

Re:
Trust Account No. [            ]—Termination Letter 

Ladies
and Gentlemen: 

        Pursuant
to paragraph 1(j) of the Investment Management Trust Agreement between Restaurant Acquisition Partners, Inc., a Delaware corporation
("Company"), and Continental Stock Transfer & Trust Company, a            corporation
("Trustee"), dated as of August    , 2006 ("Trust Agreement"), this is to advise you that the
Board of Directors of the Company has voted to dissolve and liquidate the Company. Attached hereto is a copy of the minutes of the meeting of the Board of Directors of the Company relating thereto,
certified by the Secretary of the Company as true and correct and in full force and effect. 

        In
accordance with the terms of the Trust Agreement, we hereby (a) certify to you that the provisions of Section 11-51-302(6) and Rule 51-3.4 of the Colorado Revised
Statutes have been met and (b) authorize you, to commence liquidation of the Trust Account. You will notify the Company and JPMorgan Chase ("Designated Paying
Agent") in writing as to when all of the funds in the Trust Account will be available for immediate transfer ("Transfer Date"). 

        The
Designated Paying Agent shall thereafter notify you as to the account or accounts of the Designated Paying Agent that the funds in the Trust Account should be transferred to on the
Transfer Date so that the Designated Paying Agent may commence distribution of such funds in accordance with the Company's instructions. You shall have no obligation to oversee the Designated Paying
Agent's distribution of the funds. Upon the payment to the Designated Paying Agent of all the funds in the Trust Account, the Trust Agreement shall be terminated. 

	 	 	Very truly yours,
	

 	
 	

Restaurant Acquisition Partners, Inc.
	

 	
 	

By:	
 	

          

	

 	
 	

By:	
 	

          

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EXHIBIT C    
    
    AUTHORIZED INDIVIDUAL(S)
  AUTHORIZED FOR TELEPHONE CALL BACK TELEPHONE NUMBER(S)    
    

COMPANY: 

Restaurant
Acquisition Partners, Inc.

5950 Hazeltine National Drive, Suite 290

Orlando, Florida 32822

Attn: Christopher R. Thomas, Chief Executive Officer and President 

TRUSTEE:

Continental Stock Transfer & Trust Company

17 Battery Place

New York, NY 10004

Attention: [                        ] 

9

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Exhibit 10.3

INVESTMENT MANAGEMENT TRUST AGREEMENT

EXHIBIT A RESTAURANT ACQUISITION PARTNERS, INC.

EXHIBIT B RESTAURANT ACQUISITION PARTNERS, INC.

EXHIBIT C AUTHORIZED INDIVIDUAL(S) AUTHORIZED FOR TELEPHONE CALL BACK TELEPHONE NUMBER(S)QuickLinks
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Exhibit 10.1  

 
 

XTENT, INC.    
    
    INDEMNIFICATION AGREEMENT    
    

        THIS AGREEMENT is entered into, effective as
of                        , 2006 by and between Xtent, Inc., a Delaware corporation (the
"Company"), and                        ("Indemnitee"), effective as of the date that the Registration Statement
on Form S-1 related to the initial public offering of the Company's Common Stock is declared effective by the United States Securities and Exchange Commission. 

        WHEREAS,
it is essential to the Company to retain and attract as directors and officers the most capable persons available; 

        WHEREAS,
Indemnitee is a director and/or officer of the Company; 

        WHEREAS,
both the Company and Indemnitee recognize the increased risk of litigation and other claims currently being asserted against directors and officers of corporations; 

        WHEREAS,
the Certificate of Incorporation and Bylaws of the Company require the Company to indemnify and advance expenses to its directors and officers to the fullest extent permitted
under Delaware law, and the Indemnitee has been serving and continues to serve as a director and/or officer of the Company in part in reliance on the Company's Certificate of Incorporation and Bylaws;
and 

        WHEREAS,
in recognition of Indemnitee's need for (i) substantial protection against personal liability based on Indemnitee's reliance on the aforesaid Certificate of Incorporation
and Bylaws, (ii) specific contractual assurance that the protection promised by the Certificate of Incorporation and Bylaws will be available to Indemnitee (regardless of, among other things,
any amendment to or revocation of the Certificate of Incorporation and Bylaws or any change in the composition of the Company's Board of
Directors or acquisition transaction relating to the Company) and (iii) an inducement to provide effective services to the Company as a director and/or officer, the Company wishes to provide in
this Agreement for the indemnification of and the advancing of expenses to Indemnitee to the fullest extent (whether partial or complete) permitted under Delaware law and as set forth in this
Agreement, and, to the extent insurance is maintained, to provide for the continued coverage of Indemnitee under the Company's directors' and officers' liability insurance policies. 

        NOW,
THEREFORE, in consideration of the above premises and of Indemnitee continuing to serve the Company directly or, at its request, with another enterprise, and intending to be legally
bound hereby, the parties agree as follows: 

        1.     Certain
Definitions: 

        (a)   "Board" shall mean the Board of Directors of the Company. 

        (b)   "Affiliate" shall mean any corporation or other person or entity that directly, or indirectly through one or more
intermediaries, controls or is controlled by or is under common control with, the person specified, including, without limitation, with respect to the Company, any direct or indirect subsidiary of the
Company. 

        (c)   A
"Change in Control" shall be deemed to have occurred if (i) any "person" (as such term is used in Sections 13(d)
and 14(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act")) (other than a trustee or other fiduciary holding securities under an
employee benefit plan of the Company or a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company,
and other than any person holding shares of the Company on the date that the Company first registers under the Act or any transferee of such individual if such transferee is a spouse or lineal
descendant of the transferee or a trust for the benefit of the individual, his or her spouse or lineal descendants), is or becomes the "beneficial owner" (as defined in Rule 13d-3
under the Exchange 

 

Act),
directly or indirectly, of securities of the Company representing 30% or more of the total voting power represented by the Company's then outstanding Voting Securities, (ii) during any
period of two consecutive years, individuals who at the beginning of such period constitute the Board and any new director whose election by the Board or nomination for election by the Company's
stockholders was approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period or whose
election or nomination for election was previously so approved, cease for any reason to constitute a majority of the Board, (iii) the stockholders of the Company approve a merger or
consolidation of the Company with any other entity, other than a merger or consolidation that would result in the Voting Securities of the Company outstanding immediately prior thereto continuing to
represent (either by remaining outstanding or by being converted into Voting Securities of the surviving entity) at least 80% of the total voting power represented by the Voting Securities of the
Company or such surviving entity outstanding immediately after such merger or consolidation or (iv) the stockholders of the Company approve a plan of complete liquidation of the Company or an
agreement for the sale or disposition by the Company (in one transaction or a series of transactions) of all or substantially all of the Company's assets. 

        (d)   "Expenses" shall mean any expense, liability or loss, including attorneys' fees, judgments, fines, ERISA excise taxes and
penalties, amounts paid or to be paid in settlement, any interest, assessments or other charges imposed thereon, any federal, state, local or foreign taxes imposed as a result of the actual or deemed
receipt of any payments under this Agreement and all other costs and obligations, paid or incurred in connection with investigating, defending, being a witness in, participating in (including on
appeal) or preparing for any of the foregoing in, any Proceeding relating to any Indemnifiable Event. 

        (e)   "Indemnifiable Event" shall mean any event or occurrence that takes place either prior to or after the execution of this
Agreement, related to the fact that Indemnitee is or was a director or officer of the Company or an Affiliate of the Company, or while a director or officer is or was serving at the request of the
Company or an Affiliate of the Company as a director, officer, employee, trustee, agent or fiduciary of another foreign or domestic corporation, partnership, joint venture, employee benefit plan,
trust or other enterprise or was a director, officer, employee or agent of a foreign or domestic corporation that was a predecessor corporation of the Company or of another enterprise at the request
of such predecessor corporation, or related to anything done or not done by Indemnitee in any such capacity, whether or not the basis of the Proceeding is alleged action in an official capacity as a
director, officer, employee or agent or in any other capacity while serving as a director, officer, employee or agent of the Company or an Affiliate of the Company, as described above. 

        (f)    "Independent Counsel" shall mean the person or body appointed in connection with Section 3. 

        (g)   "Proceeding" shall mean any threatened, pending or completed action, suit or proceeding or any alternative dispute
resolution mechanism (including an action by or in the right of the Company or an Affiliate of the Company) or any inquiry, hearing or investigation, whether conducted by the Company or an Affiliate
of the Company or any other party, that Indemnitee in good faith believes might lead to the institution of any such action, suit or proceeding, whether civil, criminal, administrative, investigative
or other. 

        (h)   "Reviewing Party" shall mean the person or body appointed in accordance with Section 3. 

        (i)    "Voting Securities" shall mean any securities of the Company that vote generally in the election of directors. 

2

 

        2.    Agreement to Indemnify.    

        (a)    General Agreement.    In the event Indemnitee was, is or becomes a party to or witness or other participant in,
or is threatened to be made a party to or witness or other participant in, a Proceeding by reason of (or arising in part out of) an Indemnifiable Event, the Company shall indemnify Indemnitee from and
against any and all Expenses to the fullest extent permitted by law, as the same exists or may hereafter be amended or interpreted (but in the case of any such amendment or interpretation, only to the
extent that such amendment or interpretation permits the Company to provide broader indemnification rights than were permitted prior thereto). The parties hereto intend that this Agreement shall
provide for indemnification in excess of that expressly permitted by statute, including, without limitation, any indemnification provided by the Company's Certificate of Incorporation, its Bylaws,
vote of its stockholders or disinterested directors or applicable law. 

        (b)    Initiation of Proceeding.    Notwithstanding anything in this Agreement to the contrary, Indemnitee shall not
be entitled to indemnification pursuant to this Agreement in connection with any Proceeding initiated by Indemnitee against the Company or any director or officer of the Company unless (i) the
Company has joined in or the Board has consented to the initiation of such Proceeding, (ii) the Proceeding is one to enforce indemnification rights under Section 5 or (iii) the
Proceeding is instituted after a Change in Control (other than a Change in Control approved by a majority of the directors on the Board who were directors immediately prior to such Change in Control)
and Independent Counsel has approved its initiation. 

        (c)    Expense Advances.    If so requested by Indemnitee, the Company shall advance (within thirty (30) days
of such request) any and all Expenses to Indemnitee (an "Expense Advance"). The Indemnitee shall qualify for such Expense Advances upon the execution and delivery to the Company of this Agreement
which shall constitute an undertaking providing that the Indemnitee undertakes to repay such Expense Advances if and to the extent that it is ultimately determined by a court of competent jurisdiction
in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the Company. Indemnitee's obligation to reimburse the Company for Expense Advances shall be unsecured
and no interest shall be charged thereon. This Section 2(c) shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 2(b) or 2(f). 

        (d)    Mandatory Indemnification.    Notwithstanding any other provision of this Agreement, to the extent that
Indemnitee has been successful on the merits or otherwise in defense of any Proceeding relating in whole or in part to an Indemnifiable Event or in defense of any issue or matter therein, Indemnitee
shall be indemnified against all Expenses incurred in connection therewith. 

        (e)    Partial Indemnification.    If Indemnitee is entitled under any provision of this Agreement to indemnification
by the Company for some or a portion of Expenses, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is
entitled. 

        (f)    Prohibited Indemnification.    No indemnification pursuant to this Agreement shall be paid by the Company on
account of any Proceeding in which a final judgment is rendered against Indemnitee or Indemnitee enters into a settlement, in each case (i) for an accounting of profits made from the purchase
or sale by Indemnitee of securities of the Company pursuant to the provisions of Section 16(b) of the Exchange Act or similar provisions of any federal, state or local laws; (ii) for
which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except with respect to any excess beyond the amount paid under any insurance
policy or other indemnity provision; or (iii) for which payment is prohibited by law. Notwithstanding anything to the contrary stated or implied in this Section 2(f), 

3

 

indemnification
pursuant to this Agreement relating to any Proceeding against Indemnitee for an accounting of profits made from the purchase or sale by Indemnitee of securities of the Company pursuant
to the provisions of Section 16(b) of the Exchange Act or similar provisions of any federal, state or local laws shall not be prohibited if Indemnitee ultimately establishes in any Proceeding
that no recovery of such profits from Indemnitee is permitted under Section 16(b) of the Exchange Act or similar provisions of any federal, state or local laws. 

        3.    Reviewing Party.    Prior to any Change in Control, the Reviewing Party shall be any appropriate person or body
consisting of a member or members of the Board or any other person or body appointed by the Board who is not a party to the particular Proceeding with respect to which Indemnitee is seeking
indemnification; provided that if all members of the Board are parties to the particular Proceeding with respect to which Indemnitee is seeking indemnification, the Independent Counsel referred to
below shall become the Reviewing Party; after a Change in Control, the Independent Counsel referred to below shall become the Reviewing Party. With respect to all matters arising before a Change in
Control for which Independent Counsel shall be the Reviewing Party and all matters arising after a Change in Control, in each case concerning the rights of Indemnitee to indemnity payments and Expense
Advances under this Agreement or any other agreement or under applicable law or the Company's Certificate of Incorporation or Bylaws now or hereafter in effect relating to indemnification for
Indemnifiable Events, the Company shall seek legal advice only from Independent Counsel selected by Indemnitee and approved by the Company (which approval shall not be unreasonably withheld or
delayed), and who has not otherwise performed services for the Company or the Indemnitee (other than in connection with indemnification matters) within the last five years. The Independent Counsel
shall not include any person who, under the applicable standards of professional conduct then
prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee's rights under this Agreement. Such counsel, among other things,
shall render its written opinion to the Company and Indemnitee as to whether and to what extent the Indemnitee should be permitted to be indemnified under applicable law. The Company agrees to pay the
reasonable fees of the Independent Counsel and to indemnify fully such counsel against any and all expenses (including attorneys' fees), claims, liabilities, loss and damages arising out of or
relating to this Agreement or the engagement of Independent Counsel pursuant hereto. 

        4.    Indemnification Process and Appeal.    

        (a)    Indemnification Payment.    Indemnitee shall be entitled to indemnification of Expenses, and shall receive
payment thereof, from the Company in accordance with this Agreement as soon as practicable after Indemnitee has made written demand on the Company for indemnification, but in no event later than
thirty (30) business days after demand, unless the Reviewing Party has given a written opinion to the Company that Indemnitee is not entitled to indemnification under applicable law. Indemnitee
shall cooperate with the Reviewing Party making a determination with respect to Indemnitee's entitlement to indemnification, including providing to the Reviewing Party upon reasonable advance request
any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. 

        (b)    Suit to Enforce Rights.    Regardless of any action by the Reviewing Party, if Indemnitee has not received full
indemnification within thirty (30) days after making a demand in accordance with Section 4(a), Indemnitee shall have the right to enforce its indemnification rights under this Agreement
by commencing litigation in any court in the State of California or the State of Delaware having subject matter jurisdiction thereof seeking an initial determination by the court or challenging any
determination by the Reviewing Party or any aspect thereof. The Company hereby consents to service of process and to appear in any such proceeding. Any determination by the Reviewing Party not
challenged by the Indemnitee shall be binding on the Company and 

4

 

Indemnitee.
The Company shall be precluded from asserting in any such proceeding that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in
any such court that the Company is bound by all the provisions of this Agreement. The remedy provided for in this Section 4 shall be in addition to any other remedies available to Indemnitee at
law or in equity. 

        (c)    Defense to Indemnification, Burden of Proof, and Presumptions.    It shall be a defense to any action brought
by Indemnitee against the Company to enforce this Agreement (other than an action brought to enforce a claim for Expenses incurred in defending a Proceeding in advance of its final disposition) that
it is not permissible under applicable law for the Company to indemnify Indemnitee for the amount claimed. In connection with any such action or any determination by the Reviewing Party or otherwise
as to whether Indemnitee is entitled to be indemnified hereunder, the burden of proving such a defense or determination shall be on the Company. Neither the failure of the Reviewing Party
or the Company (including its Board, independent legal counsel or its stockholders) to have made a determination prior to the commencement of such action by Indemnitee that indemnification of the
claimant is proper under the circumstances because Indemnitee has met the standard of conduct set forth in applicable law, nor an actual determination by the Reviewing Party or Company (including its
Board, independent legal counsel or its stockholders) that the Indemnitee had not met such applicable standard of conduct, shall be a defense to the action or create a presumption that the Indemnitee
has not met the applicable standard of conduct. For purposes of this Agreement, the termination of any claim, action, suit or proceeding, by judgment, order, settlement (whether with or without court
approval), conviction or upon a plea of nolo contendere or its equivalent, shall not create a presumption that Indemnitee did not meet any particular standard of conduct or have any particular belief
or that a court has determined that indemnification is not permitted by applicable law. For purposes of any determination of good faith under any applicable standard of conduct, Indemnitee shall be
deemed to have acted in good faith if Indemnitee's action is based on the records or books of account of the Company, including financial statements, or on information supplied to Indemnitee by the
officers of the Company in the course of their duties, or on the advice of legal counsel for the Company or the Board or counsel selected by any committee of the Board or on information or records
given or reports made to the Company by an independent certified public accountant or by an appraiser, investment banker or other expert selected with reasonable care by the Company or the Board or
any committee of the Board. The provisions of the preceding sentence shall not be deemed to be exclusive or to limit in any way the other circumstances in which the Indemnitee may be deemed to have
met the applicable standard of conduct. The knowledge and/or actions, or failure to act, or any director, officer, agent or employee of the Company shall not be imputed to Indemnitee for purposes of
determining the right to indemnification under this Agreement. 

        5.    Indemnification for Expenses Incurred in Enforcing Rights.    The Company shall indemnify Indemnitee against any
and all Expenses that are incurred by Indemnitee in connection with any action brought by Indemnitee for 

        (i)    indemnification
or advance payment of Expenses by the Company under this Agreement or any other agreement or under applicable law or the Company's Certificate of
Incorporation or Bylaws now or hereafter in effect relating to indemnification for Indemnifiable Events, and/or 

        (ii)   recovery
under directors' and officers' liability insurance policies maintained by the Company; but only in the event that Indemnitee ultimately is determined to be
entitled to such indemnification or insurance recovery, as the case may be. In addition, the Company shall, if so requested by Indemnitee, advance the foregoing Expenses to Indemnitee, subject to and
in accordance with Section 2(c). 

5

 

        6.    Notification and Defense of Proceeding.    

        (a)    Notice.    Promptly after receipt by Indemnitee of notice of the commencement of any Proceeding, Indemnitee
shall, if a claim in respect thereof is to be made against the Company under this Agreement, notify the Company of the commencement thereof; but the omission so to notify the Company will not relieve
the Company from any liability that it may have to Indemnitee, except as provided in Section 6(c). 

        (b)    Defense.    With respect to any Proceeding as to which Indemnitee notifies the Company of the commencement
thereof, the Company will be entitled to participate in the Proceeding at its own expense and except as otherwise provided below, to the extent the Company so wishes, it may assume the defense thereof
with counsel reasonably satisfactory to Indemnitee. After notice from the Company to Indemnitee of its election to assume the defense of any Proceeding, the Company shall not be liable to Indemnitee
under this Agreement or otherwise for any Expenses subsequently incurred by Indemnitee in connection with the defense of such Proceeding other than reasonable costs of investigation or as otherwise
provided below. Indemnitee shall have the right to employ legal counsel in such Proceeding, but all Expenses related thereto incurred after notice from the Company of its assumption of the defense
shall be at Indemnitee's expense unless: (i) the employment of legal counsel by Indemnitee has been authorized by the Company, (ii) Indemnitee has reasonably determined that there may be
a conflict of interest between Indemnitee and the Company in the defense of the Proceeding, (iii) after a Change in Control, the employment of counsel by Indemnitee has been approved by the
Independent Counsel or (iv) the Company shall not in fact have employed counsel to assume the defense of such Proceeding, in each of which cases all Expenses of the Proceeding shall be borne by
the Company. The Company shall not be entitled to assume the defense of any Proceeding brought by or on behalf of the Company, or as to which Indemnitee shall have made the determination provided for
in (ii) above or under the circumstances provided for in (iii) and (iv) above. 

        (c)    Settlement of Claims.    The Company shall not be liable to indemnify Indemnitee under this Agreement or
otherwise for any amounts paid in settlement of any Proceeding effected without the Company's written consent, such consent not to be unreasonably withheld; provided, however, that if a Change in
Control has occurred, the Company shall be liable for indemnification of Indemnitee for amounts paid in settlement if the Independent Counsel has approved the settlement. The Company shall not settle
any Proceeding in any manner that would impose any penalty or limitation on Indemnitee without Indemnitee's written consent. The Company shall not be liable to indemnify the Indemnitee under this
Agreement with regard to any judicial award if the Company was not given a reasonable and timely opportunity as a result of Indemnitees' failure to provide notice, at its expense, to participate in
the defense of such action, and the lack of such notice materially prejudiced the Company's ability to participate in defense of such action. The Company's liability hereunder shall not be excused if
participation in the Proceeding by the Company was barred by this Agreement. 

        7.    Establishment of Trust.    In the event of a Change in Control, the Company shall, upon written request by
Indemnitee, create a Trust for the benefit of the Indemnitee and from time to time upon written request of Indemnitee shall fund the Trust in an amount sufficient to satisfy any and all Expenses
reasonably anticipated at the time of each such request to be incurred in connection with investigating, preparing for, participating in, and/or defending any Proceeding relating to an Indemnifiable
Event. The amount or amounts to be deposited in the Trust pursuant to the foregoing funding obligation shall be determined by the Independent Counsel. The terms of the Trust shall provide that
(i) the Trust shall not be revoked or the principal thereof invaded without the written consent of the Indemnitee, (ii) the Trustee shall advance, within thirty (30) days of a
request by the Indemnitee, any and all Expenses to the Indemnitee (and the Indemnitee hereby agrees to reimburse the Trust under the same circumstances for which the Indemnitee would be required to
reimburse the 

6

 

Company
under Section 2(c) of this Agreement), (iii) the Trust shall continue to be funded by the Company in accordance with the funding obligation set forth above, (iv) the
Trustee shall promptly pay to the Indemnitee all amounts for which the Indemnitee shall be entitled to indemnification pursuant to this Agreement or otherwise no later than thirty (30) days
after notice pursuant to Section 4(a) and (v) all unexpended funds in the Trust shall revert to the Company upon a final determination by the Independent Counsel or a court of competent
jurisdiction, as the case may be, that the Indemnitee has been fully indemnified under the terms of this Agreement. The Trustee shall be chosen by the Indemnitee. Nothing in this Section 7
shall relieve the Company of any of its obligations under this Agreement. All income earned on the assets held in the Trust shall be reported as income by the Company for federal, state, local and
foreign tax purposes. The Company shall pay all costs of establishing and maintaining the Trust and shall indemnify the Trustee against any and all expenses (including attorneys' fees), claims,
liabilities, loss and damages arising out of or relating to this Agreement or the establishment and maintenance of the Trust. 

        8.    Non-Exclusivity.    The rights of Indemnitee hereunder shall be in addition to any other rights
Indemnitee may have under the Company's Certificate of Incorporation, Bylaws, applicable law or otherwise; provided, however, that this Agreement shall supersede any prior indemnification agreement
between the Company and the Indemnitee. To the extent that a change in applicable law (whether by statute or judicial decision) permits greater indemnification than would be afforded currently under
the Company's Certificate of Incorporation, Bylaws, applicable law or this Agreement, it is the intent of the parties that Indemnitee enjoy by this Agreement the greater benefits so afforded by such
change. 

        9.    Liability Insurance.    To the extent the Company maintains an insurance policy or policies providing general
and/or directors' and officers' liability insurance, Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for
any Company director or officer. 

        10.    Period of Limitations.    No legal action shall be brought and no cause of action shall be asserted by or on
behalf of the Company or any Affiliate of the Company against Indemnitee, Indemnitee's spouse, heirs, executors or personal or legal representatives after the expiration of two (2) years from
the date of accrual of such cause of action or such longer period as may be required by state law under the
circumstances. Any claim or cause of action of the Company or its Affiliate shall be extinguished and deemed released unless asserted by the timely filing and notice of a legal action within such
period; provided, however, that if any shorter period of limitations is otherwise applicable to any such cause of action, the shorter period shall govern. 

        11.    Amendment of this Agreement.    No supplement, modification or amendment of this Agreement shall be binding
unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be binding unless in the form of a writing signed by the party against whom
enforcement of the waiver is sought, and no such waiver shall operate as a waiver of any other provisions hereof (whether or not similar), nor shall such waiver constitute a continuing waiver. Except
as specifically provided herein, no failure to exercise or any delay in exercising any right or remedy hereunder shall constitute a waiver thereof. 

        12.    Subrogation.    In the event of payment under this Agreement, the Company shall be subrogated to the extent of
such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and shall do everything that may be necessary to secure such rights, including the execution of such
documents necessary to enable the Company effectively to bring suit to enforce such rights. 

        13.    No Duplication of Payments.    The Company shall not be liable under this Agreement to make any payment in
connection with any claim made against Indemnitee to the extent Indemnitee has otherwise received payment (under any insurance policy, Bylaw or otherwise) of the amounts otherwise indemnifiable
hereunder. 

7

 

        14.    Duration of Agreement.    This Agreement shall continue until and terminate upon the later of (a) ten
(10) years after the date that Indemnitee shall have ceased to serve as a director or officer of the Company or (b) one (1) year after the final termination of any Proceeding,
including any appeal, then pending in respect of which Indemnitee is granted rights of indemnification or advancement of Expenses hereunder and of any proceeding commenced by Indemnitee pursuant to
Section 4(b) of this Agreement relating thereto. 

        15.    Binding Effect.    This Agreement shall be binding upon and inure to the benefit of and be enforceable by the
parties hereto and their respective successors (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of
the Company), assigns, spouses, heirs and personal and legal representatives. The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or
otherwise) to all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and
agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. The indemnification provided under this
Agreement shall continue as to Indemnitee for any action taken or not taken while serving in an indemnified capacity pertaining to an Indemnifiable Event even though Indemnitee may have ceased to
serve in such capacity at the time of any Proceeding. 

        16.    Severability.    If any provision (or portion thereof) of this Agreement shall be held by a court of competent
jurisdiction to be invalid, void or otherwise unenforceable, (a) the remaining provisions shall remain enforceable to the fullest extent permitted by law; (b) such provision or
provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent
possible, the provisions of this Agreement (including, without limitation, each portion of this Agreement containing any provision held to be invalid, void or otherwise unenforceable, that is not
itself invalid, void or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, void or unenforceable. 

        17.    Contribution.    To the fullest extent permissible under applicable law, whether or not the indemnification
provided for in this Agreement is available to Indemnitee for any reason whatsoever, the Company shall pay all or a portion of the amount that would otherwise be incurred by Indemnitee for Expenses in
connection with any claim relating to an Indemnifiable Event, as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative
benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Company (and its
directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s). 

        18.    Governing Law.    This Agreement shall be governed by and construed and enforced in accordance with the laws of
the State of Delaware applicable to contracts made and to be performed in such State without giving effect to its principles of conflicts of laws. The Company and Indemnitee hereby irrevocably and
unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement may be brought in the Delaware Court of Chancery, (ii) consent to submit to
the jurisdiction of the Delaware Court of Chancery for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) waive any objection to the laying of venue
of any such action or proceeding in the Delaware Court of Chancery, and (iv) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court
of Chancery has been brought in an improper or inconvenient forum. 

        19.    Notices.    All notices, demands and other communications required or permitted hereunder shall be made in
writing and shall be deemed to have been duly given if delivered by hand, against 

8

 

receipt
or mailed, postage prepaid, certified or registered mail, return receipt requested and addressed to the Company at: 

Xtent, Inc.

125 Constitution Drive

Menlo Park, CA 94025-1118

Attention: Chief Executive Officer 

and
to Indemnitee at the address set forth below Indemnitee's signature hereto. Notice of change of address shall be effective only when given in accordance with this Section. All notices complying
with this Section shall be deemed to have been received on the date of hand delivery or on the third business day after mailing. 

        20.    Counterparts.    This Agreement may be executed in one or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. 

*
* * * * 

9

        IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this Agreement as of the day specified above. 

	 	 	XTENT, INC.

a Delaware corporation
	

 	
 	

By:	

    

	

 	
 	

Print Name:	

    

	

 	
 	

Title:	

    

	

 	
 	
INDEMNITEE,

an individual
	

 	
 	

    
 Indemnitee
	

 	
 	

    
    
 (Address)

   

   

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XTENT, INC. INDEMNIFICATION AGREEMENT

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