Document:

Unassociated Document

Exhibit 10.15

IVAX DIAGNOSTICS, INC.

Form of

Nonqualified Stock Option Award Agreement

(Independent Director)

1.           Grant of Stock Option.  In accordance with and subject to the terms and conditions of (a) the IVAX Diagnostics, Inc. 2009 Equity Incentive Plan, as it may be amended from time to time (the “Plan”), a copy of which is attached hereto as Exhibit A, and (b) this Nonqualified Stock Option Award Agreement (the “Award Agreement”), IVAX Diagnostics, Inc., a Delaware corporation (the “Company”), grants to the optionee identified on Schedule 1 attached hereto (the “Optionee”) a nonqualified stock option (the “Stock Option”) to purchase the number of shares (the “Shares”) of the Company’s common stock, par value $0.01 per share, set forth on Schedule 1, at the per Share exercise price set forth on Schedule 1.

2.           Acceptance by Optionee.  The exercise of the Stock Option, or any portion thereof, is conditioned upon acceptance by the Optionee of the terms and conditions of this Award Agreement, as evidenced by the Optionee’s execution of Schedule 1, and the delivery to the Company of a copy of Schedule 1 which has been executed by the Optionee.

3.           Vesting of Stock Option.  The Stock Option shall become exercisable in accordance with the vesting schedule set forth on Schedule 1.

4.           Expiration of Stock Option.  The Stock Option shall expire on, and may not be exercised after, the expiration date set forth on Schedule 1 (the “Expiration Date”). Notwithstanding the foregoing, if, prior to the Expiration Date, the Optionee’s service as a director of the Company ceases for any reason (including, without limitation, by reason of the Optionee’s retirement or resignation, whether with or without good reason, the Optionee’s refusal to stand for re-election as a director of the Company for any reason whatsoever, the removal of the Optionee as a director of the Company by the Company’s stockholders, whether with or without cause, the Optionee’s failure to be re-elected to serve as a director of the Company upon the expiration of his or her term or the Optionee’s death or “disability,” as determined under the procedures established by the Compensation Committee of the Board of Directors of the Company for purposes of the Plan), then the Stock Option shall expire on the earlier of (i) the Expiration Date and (ii) the date which is thirty (30) days after the effective date of the cessation of the Optionee’s service as a director of the Company.

 

  

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5.           Procedure for Exercise.  The Stock Option may be exercised for the number of Shares specified in a written notice which has been executed by the Optionee and delivered to the Company at least ten (10) days prior to the date on which purchase is requested, accompanied by full payment for the Shares with respect to which the Stock Option is being exercised, in the manner and subject to the terms and conditions set forth in the Plan.  Notwithstanding the foregoing, the Stock Option may not be exercised as to less than ten (10) Shares at any time or, if less than ten (10) Shares, the number of Shares subject to the Stock Option.  If any applicable law, rule or regulation requires the Company to take any action with respect to the Shares specified in such notice or if any action remains to be taken under the Certificate of Incorporation or Bylaws of the Company, as they may be amended from time to time, to effect due issuance of the Shares, then the Company shall take such action and the day for delivery of such Shares shall be extended for the period necessary to take such action.  Neither the Optionee nor any other Person entitled to exercise the Stock Option, if any, shall be, or have any rights or privileges of, a stockholder of the Company in respect of any of the Shares issuable upon exercise of the Stock Option, unless and until the Shares are issued to the Optionee by the Company.

6.           No Right to Employment.  Neither the grant of the Stock Option nor the issuance of any Shares pursuant to the Stock Option shall give the Optionee any right to be employed or retained in the employ of the Company.

7.           Representations as to Purchase of Shares.  As a condition of the Company’s obligation to issue Shares upon exercise of the Stock Option, if requested by the Company, then the Optionee shall, concurrently with the delivery of the stock certificate representing the Shares so purchased, give such written assurances to the Company, in the form and substance that the Company’s counsel reasonably requests, to the effect that the Optionee is acquiring the Shares for investment and without any present intention of reselling or redistributing the same in violation of any applicable law, rule or regulation.  If the Company elects to register, or has registered, the Shares under the Securities Act of 1933, as amended, and any applicable state laws, rules and regulations, then the issuance of such Shares shall not be subject to the aforementioned conditions contained in this Section 7.

8.           Compliance with Applicable Law.  The issuance of the Shares pursuant to the exercise of this Stock Option is subject to compliance with all applicable laws, rules and regulations, including, without limitation, laws, rules and regulations governing withholding from employees and nonresident aliens for income tax purposes.

IN WITNESS WHEREOF, the Company has caused this Award Agreement to be executed as of the date of grant set forth on Schedule 1.

	
IVAX Diagnostics, Inc.

	  	  
	
By:

	  
	
Name:

	  
	
Title:

	  

  

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Schedule 1

to

Form of Nonqualified Stock Option Award Agreement

(Independent Director)

	
Name of Optionee:

	__________________________________  
	
Number of Shares:

	__________________________________  
	
Exercise Price Per Share:

	
$_________________________________

	
Date of Grant:

	__________________________________  
	
Expiration Date:

	__________________________________  
	
Vesting Schedule:

	
Fully vested as of Date of Grant

 

The undersigned agrees to the terms and conditions of the Nonqualified Stock Option Award Agreement of which this Schedule 1 is a part, and acknowledges receipt of the prospectus relating to the Plan and of the Company’s most recent annual report to stockholders.

 

	_________________________________________  
	
Name:____________________________________

	
Social Security No.:_________________________

	
Date of Acceptance:_________________________

 

  

3Unassociated Document

Exhibit 10.14

 

FOURTH AMENDMENT TO LEASE AGREEMENT

 

This Fourth Amendment to Lease Agreement (this “Fourth Amendment”), dated as of March 4, 2011, for reference purposes only, is entered into by and between Health Research Association, Inc., a California non-profit public benefit corporation (“Landlord”) and Response Genetics, Inc., a Delaware corporation (“Tenant”).

 

RECITALS

 

A. Landlord and Tenant entered into an Office Lease Agreement dated as of September 16, 2004, as amended by that certain First Amendment to Office Lease dated February 1, 2006, that certain Second Amendment to Lease Agreement dated as of January 28, 2010, and that certain Third Amendment to Lease Agreement dated as of March 31, 2010 (collectively, the “Lease”), for those certain premises known as Suites 600, 620, 701, 702, 400, 400C., 400.2 and 410 (collectively, the “Premises”), located at 1640 Marengo Blvd., Los Angeles, California, 90033, all as more particularly set forth in the Lease.

 

B. Landlord and Tenant acknowledge that the Lease currently in effect shall terminate on March 31, 2011. Tenant wishes to extend the Term of the Lease for a period of one (1) year with a new termination date of March 31, 2012, and Landlord is willing to so extend the Term in accordance with the specific terms and conditions as set forth in this Fourth Amendment.

 

C. Upon execution of this Fourth Amendment, the Term of the Lease shall be extended for a one (1) year period and shall terminate on March 31, 2012, unless specific notice as provided herein is timely given to Landlord in accordance with the provisions of this Fourth Amendment and the Lease is further amended as specifically provided herein.

 

D. Landlord and Tenant mutually desire to amend the Lease to memorialize the Lease Term extension, as well as other matters, all in accordance with the specific terms and conditions hereof.

 

NOW THEREFORE, for good and valuable consideration received to the full satisfaction of the parties hereto, Landlord and Tenant do hereby covenant and agree as follows:

 

1. Recitals.  The foregoing recitals are hereby incorporated into and made a part of this Fourth Amendment by this reference.

 

2. Definitions.  All capitalized terms in this Fourth Amendment (including the Recitals), shall have the same meanings ascribed thereto in the Lease, unless otherwise provided for herein.

 

3. Effective Date. This Fourth Amendment shall be effective as of the date first above written (the “Effective Date”). As of the Effective Date, the Lease shall be deemed amended by this Fourth Amendment and, as so amended, shall continue in full force and effect.

 

4. Term.  The Term of the Lease for the Premises shall be extended for a one (1) year period which period shall commence on April 1, 2011, and shall terminate on March 31, 2012, unless a Fifth Amendment to Lease is executed by the parties hereto in accordance with Paragraph 8 below.

 

  

  

  

5. Base Rent.  Monthly Base Rent for the Premises during the Term shall be the sum of Thirty Eight Thousand Eight Hundred Eighty-Two Dollars and forty cents ($38,882.40) per month, provided however that payment of the aforesaid Monthly Base Rent shall be payable by Tenant to Landlord in the deferred allocation amounts specified below, it being specifically agreed, acknowledged and understood by Tenant that the deferred allocation amounts of the Monthly Base Rent as specified below does not in any way alter, modify or change the totality of Tenant’s Monthly Base Rent obligation to Landlord which annual sum for the Term is Four Hundred Sixty Six Thousand Five Hundred Eighty-Eight Dollars, eighty cents ($466,588.80). The deferred allocation of Monthly Base Rent as set forth below is due in full on the first day of each month and shall be in the amounts as follows:

 

	
April 1, 2011

	
Thirty Five Thousand Dollars ($35,000);

	
May 1, 2011

	
Thirty Five Thousand Dollars ($35,000);

	
June 1, 2011

	
Thirty Five Thousand Dollars ($35,000);

	
July 1, 2011

	
Thirty Thousand Dollars ($30,000);

	
August 1, 2011

	
Thirty Thousand Dollars ($30,000);

	
September 1, 2011

	
Thirty Thousand Dollars ($30,000)

	
September 1, 2011

	
Forty Thousand Dollars ($40,000);

	
October 1, 2011

	
Forty Thousand Dollars ($40,000);

	
November 1, 2011

	
Forty Thousand Dollars ($40,000);

	
December 1, 2011

	
Fifty Thousand Dollars ($50,000);

	
January 1, 2012

	
Fifty Thousand Dollars ($50,000);

	
February 1, 2012

	
Fifty Thousand Dollars ($50,000); and

	
March 1, 2012

	
Fifty One Thousand Five Hundred Fifty-Eight Dollars ($51,558).

6. Parking.  In addition to the Monthly Base Rent set forth in Paragraph 5 above, during the Term hereof Tenant shall pay to Landlord the sum of One Thousand Five Hundred Dollars ($1,500) per month for thirty (30) non-reserved parking spaces located at the Building plus the sum of Two Thousand Two Hundred Forty Dollars ($2,240.00) per month for thirty-two (32) unreserved L.A. County parking spaces located on the corner of Mission and Workman Avenues, Los Angeles and commonly known and referred to as ‘Lot 10’. Accordingly, the monthly total for parking during the Term shall be Three Thousand Seven Hundred Forty Dollars ($3,740.00) and shall be payable to Landlord as Additional Rent and is due on the first day of each month along with the Monthly Base Rent.

 

7. Notice of Extension.  In the event that Tenant wishes to remain at the Building at the expiration of the Term hereof then in such case, Tenant must give Landlord written notice of its intention by November 1, 2011. In such event, Tenant and Landlord shall execute a Fifth Amendment to Lease as provided in Paragraph 8 below. If no such written notice is given by Tenant to Landlord by November 1, 2011, then in such case, the Lease shall terminate on March 31, 2012 and be of no further force or effect whatsoever.

 

  

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8. Fifth Amendment to Lease.  If Tenant wishes to remain at the Building following the expiration of the Term as set forth in Paragraph 7 above and has given Landlord the requisite written notice as set forth in Paragraph 7 above, then in such case, and prior to December 1, 2011, Landlord and Tenant shall execute a Fifth Amendment to Lease memorializing the new terms and conditions.

 

9. Security Deposit.  The parties acknowledge that Landlord is currently holding as a Security Deposit the sum of Nineteen Thousand One Hundred One Dollars, ninety cents ($19, 101.90). As a condition of Landlord’s agreement to enter into this Fourth Amendment, Tenant has agreed and shall concurrently with Base Rent due on August 1, 2011 provide Landlord with an additional Security Deposit in the amount of Five Thousand Eight Hundred Ninety Eight Dollars, ten cents ($5,898.10) so that the total Security Deposit shall then be the sum of Twenty Five Thousand Dollars ($25,000.00). Although Tenant’s delivery of the additional Security Deposit is deferred until August 1, 2011, Tenant’s agreement to remit this additional Security Deposit to Landlord is a condition precedent to Landlord’s agreement to extend the Term of Tenant’s Lease. Accordingly, Tenant’s failure to deliver the additional Security Deposit to Landlord on August 1, 2011 shall be deemed a breach of the Lease terms with all of Landlord’s rights reserved as set forth in the Lease.

 

10. Effect of Fourth Amendment.  Except as specifically modified by this Fourth Amendment, all of the terms and conditions of the Lease shall continue in full force and effect. In the event of any conflict between the terms of this Fourth Amendment and the terms of the Lease, the terms of this Fourth Amendment shall prevail.

 

11. Counterparts.  This Fourth Amendment may be executed simultaneously in one (1) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one (1) and the same instrument. Each party may execute a facsimile counterpart signature page, which shall constitute a valid and binding obligation of the party signing such facsimile counterpart. Any party signing by facsimile agrees promptly to furnish to the other party, upon request, an original counterpart of this Fourth Amendment.

 

12. Entire Agreement.  This Fourth Amendment contains the entire understanding and agreement between the parties relating to the matters covered hereby and supersedes all prior or contemporaneous negotiations, arrangements, agreements, understandings, representations, and statements, whether oral or written, with respect to the matters covered hereby, all of which are merged herein and shall be of no further force or effect whatsoever.

 

  

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IN WITNESS WHEREOF, Landlord and Tenant have executed this Fourth Amendment as of the day and year first above written.

 

Landlord

HEALTH RESEARCH ASSOCIATION, INC.,

a California non-profit public benefit corporation

 

 

By: /s/ Dennis M. Lee                                           

       Dennis M. Lee

Its: Chief Financial Officer

Tenant

RESPONSE GENETICS, INC.,

a Delaware corporation

By:    /s/ David O’Toole                                        

Print Name: David O’Toole                                  

Title:  Chief Financial Officer                               

 

 

  

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