Document:

1992 Incentive Stock Plan

 Exhibit 10.22 
 ALSIUS CORPORATION 
 1992 INCENTIVE STOCK PLAN 
 (Amended and Restated as of November 8, 2002) 
 1. Purposes of the Plan. The
purposes of this Incentive Stock Plan are to attract and retain the best available personnel, to provide additional incentive to the Employees of Alsius Corporation (the “Company”) and to promote the success of the Company’s business.

 Options granted hereunder may be either Incentive Stock Options or Nonstatutory Stock Options, at the discretion of the
Board and as reflected in the terms of the written option agreement. The Board also has the discretion to grant Stock Purchase Rights. 
 2.
Definitions. As used herein, the following definitions shall apply: 
 (a) “Board” shall mean the Committee, if one
has been appointed, or the Board of Directors of the Company, if no Committee is appointed. 
 (b) “Code” shall mean
the Internal Revenue Code of 1986, as amended. 
 (c) “Committee” shall mean the Committee appointed by the Board of
Directors in accordance with Section 4(a) of the Plan, if one is appointed. 
 (d) “Common Stock” shall mean
the Common Stock of the Company. 
 (e) “Company” shall mean Alsius Corporation, a California corporation.

 (f) “Consultant” shall mean any person who is engaged by the Company or any Parent or Subsidiary to render
consulting services and is compensated for such consulting services, and any director of the Company whether compensated for such services or not. 
 (g) “Continuous Status as an Employee or Consultant” shall mean the absence of any interruption or termination of service as an Employee or Consultant, as applicable. Continuous Status as an Employee or
Consultant shall not be considered interrupted in the case of sick leave, military leave, or any other leave of absence approved by the Board; provided that such leave is for a period of not more than 90 days or reemployment upon the expiration of
such leave is guaranteed by contract or statute. 
 (h) “Employee” shall mean any person, including officers and
directors, employed by the Company or any Parent or Subsidiary of the Company. The payment of a director’s fee by the Company shall not be sufficient to constitute “employment” by the Company. 
 (i) “Incentive Stock Option” shall mean an Option intended to qualify as an incentive stock option within the meaning of
Section 422 of the Code. 
 (j) “Nonstatutory Stock Option” shall mean an Option not intended to qualify as an
Incentive Stock Option. 
 (k) “Option” shall mean a stock option granted pursuant to the Plan. 
 (l) “Optioned Stock” shall mean the Common Stock subject to an Option. 

 (m) “Optionee” shall mean an Employee or Consultant who receives an Option.

 (n) “Parent” shall mean a “parent corporation,” whether now or hereafter existing, as defined in
Section 425(e) of the Code. 
 (o) “Plan” shall mean this 1992 Incentive Stock Plan. 
 (p) “Purchaser” shall mean an Employee or Consultant who exercises a Stock Purchase Right. 
 (q) “Share” shall mean a share of the Common Stock, as adjusted in accordance with Section 11 of the Plan. 
 (r) “Stock Purchase Right” shall mean a right to purchase Common Stock pursuant to the Plan or the right to receive a bonus of
Common Stock for past services. 
 (s) “Subsidiary” shall mean a “subsidiary corporation,” whether now or
hereafter existing, as defined in Section 425(f) of the Code. 
 3. Stock Subject to the Plan. Subject to the provisions of
Section 11 of the Plan, the maximum aggregate number of Shares under the Plan is 5,100,000 shares of Common Stock. The Shares may be authorized, but unissued, or reacquired Common Stock. The 5,100,000 share figure is comprised of (i) the
initial share reserve of 600,000 shares authorized on January 8, 1992 (which reflects the four-for-one stock split approved on April 8, 1996), (ii) an additional increase of 2,000,000 shares authorized on November 20, 1996,
(iii) an additional increase of 1,000,000 shares authorized on November 2, 1998, (iv) an additional increase of 1,500,000 shares authorized on November 1, 2000 and (v) an additional increase of 400,000 shares authorized on
November 8, 2002. The 5,500,000 shares of Common Stock authorized under the Plan includes shares issued or issuable pursuant to options or direct share grants made under the Plan prior to the most recent increase in the size of the Plan on
November 8, 2002. 
 If an Option or Stock Purchase Right should expire or become unexercisable for any reason without having been
exercised in full, then the unpurchased Shares which were subject thereto shall, unless the Plan shall have been terminated, become available for future grant or sale under the Plan. Notwithstanding any other provision of the Plan, Shares issued
under the Plan and later repurchased by the Company shall not become available for future grant or sale under the Plan. 
 4. Administration
of the Plan. 
 (a) Procedure. The Plan shall be administered by the Board of Directors of the Company. 
 (i) The Board of Directors may appoint a Committee consisting of not less than two members of the Board of Directors to administer the
Plan on behalf of the Board of Directors, subject to such terms and conditions as the Board of Directors may prescribe. Once appointed, the Committee shall continue to serve until otherwise directed by the Board of Directors. Members of the Board
who are either eligible for Options and/or Stock Purchase Rights or have been granted Options and/or Stock Purchase Rights may vote on any matters affecting the administration of the Plan or the grant of any Options and/or Stock Purchase Rights
pursuant to the Plan, except that no such member shall act upon the granting of an Option and/or Stock Purchase Right to such member, but any such member may be counted in determining the existence of a quorum at any meeting of the Board during
which action is taken with respect to the granting of Options and/or Stock Purchase Rights to the member. 

 (ii) Subject to the foregoing subparagraph (i), from time to time the Board of Directors
may increase the size of the Committee and appoint additional members thereof, remove members (with or without cause) and appoint new members in substitution therefore, fill vacancies however caused, or remove all members of the Committee and
thereafter directly administer the Plan. 
 (b) Powers of the Board. Subject to the provisions of the Plan, the Board shall
have the authority, in its discretion: (i) to grant Incentive Stock Options, Nonstatutory Stock Options or Stock Purchase Rights; (ii) to determine, upon review of relevant information and in accordance with Section 7 of the Plan, the
fair market value of the Common Stock; (iii) to determine the exercise price per Share of Options or Stock Purchase Rights, to be granted, which exercise price shall be determined in accordance with Section 7 of the Plan; (iv) to determine
the Employees or Consultants to whom, and the time or times at which, Options or Stock Purchase Rights shall be granted and the number of Shares to be represented by each Option or Stock Purchase Right; (v) to interpret the Plan; (vi) to
prescribe, amend and rescind rules and regulations relating to the Plan; (vii) to determine the terms and provisions of each Option and Stock Purchase Right granted (which need not be identical) and, with the consent of the holder thereof,
modify or amend each Option or Stock Purchase Right; (viii) to authorize any person to execute on behalf of the Company any instrument required to effectuate the grant of an Option or Stock Purchase Right previously granted by the Board; and
(ix) to make all other determinations deemed necessary or advisable for the administration of the Plan. 
 (c) Effect of Board’s
Decision. All decisions, determinations and interpretations of the Board shall be final and binding on all Optionees, Purchasers and any other holders of any Options or Stock Purchase Rights granted under the Plan. 
 5. Eligibility. 
 (a) Options
and Stock Purchase Rights may be granted to Employees and Consultants, provided that Incentive Stock Options may only be granted to Employees. An Employee or Consultant who has been granted an Option or Stock Purchase Right may, if such Employee or
Consultant is otherwise eligible, be granted additional Option(s) or Stock Purchase Right(s). 
 (b) No Incentive Stock Option
may be granted to an Employee which, when aggregated with all other incentive stock options granted to such Employee by the Company or any Parent or Subsidiary, would result in Shares having an aggregate fair market value (determined for each Share
as of the date of grant of the Option covering such Share) in excess of $100,000 becoming first available for purchase upon exercise of one or more incentive stock options during any calendar year. 
 (c) Section 5(b) of the Plan shall apply only to an Incentive Stock Option evidenced by an “Incentive Stock Option
Agreement” which sets forth the intention of the Company and the Optionee that such Option shall qualify as an incentive stock option. Section 5(b) of the Plan shall not apply to any Option evidenced by a “Nonstatutory Stock Option
Agreement” which sets forth the intention of the Company and the Optionee that such Option shall be a Nonstatutory Stock Option. 
 (d) The Plan shall not confer upon any Optionee or holder of a Stock Purchase Right any right with respect to continuation of employment by or the rendition of consulting services to the Company, nor shall it
interfere in any way with his or her right or the Company’s right to terminate his or her employment or services at any time, with or without cause. 

 6. Term of Plan. The Plan shall become effective upon the earlier to occur of its adoption by the Board
of Directors or its approval by vote of the holders of a majority of the outstanding Shares of the Company entitled to vote on the adoption of the Plan. It shall continue in effect for a term of ten (10) years unless sooner terminated under
Section 13 of the Plan. 
 7. Exercise Price and Consideration. 
 (a) The per Share exercise price for the Shares to be issued pursuant to exercise of an Option or Stock Purchase Right shall be such price
as is determined by the Board, but shall be subject to the following: 
 (i) In the case of an Incentive Stock Option

 (A) granted to an Employee who, at the time of the grant of such Incentive Stock Option, owns stock representing more than
ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price shall be no less than 110% of the fair market value per Share on the date of grant. 
 (B) granted to any Employee, the per Share exercise price shall be no less than 100% of the fair market value per Share on the date of
grant. 
 (ii) In the case of a Nonstatutory Stock Option 
 (A) granted to a person who, at the time of the grant of such Option, owns stock representing more than ten percent (10%) of the
voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price shall be no less than 110% of the fair market value per Share on the date of the grant. 
 (B) granted to any person, the per Share exercise price shall be no less than 85% of the fair market value per Share on the date of
grant. 
 (iii) In the case of a Stock Purchase Right granted to any person, the per Share exercise price shall be no less
than 85% of the fair market value per Share on the date of grant. 
 (b) The fair market value shall be determined by the Board in its
discretion; provided, however, that where there is a public market for the Common Stock, the fair market value per Share shall be the mean of the bid and asked prices (or the closing price per Share if the Common Stock is listed on the National
Association of Securities Dealers Automated Quotation (“NASDAQ”) National Market System of the Common Stock for the date of grant, as reported in the Wall Street Journal (or, if not so reported, as otherwise reported by the NASDAQ System)
or, in the event the Common Stock is listed on a stock exchange, the fair market value per Share shall be the closing price on such exchange on the date of grant of the Option or Stock Purchase Right, as reported in the Wall Street Journal.

 (c) The consideration to be paid for the Shares to be issued upon exercise of an Option or Stock Purchase Right, including the method of
payment, shall be determined by the Board and may consist of (1) cash, (2) check, (3) promissory note, (4) other Shares which (x) in the case of Shares acquired upon exercise of an Option, have been owned by the Optionee for
more than six months on the date of surrender, and (y) have a fair market value on the date of surrender equal to the aggregate exercise price of the Shares as to which such Option shall be exercised, (5) consideration received by the
Company under a cashless exercise program implemented by the Company in connection with the Plan, or (6) any combination of the foregoing methods of payment. In making its determination as to the type of consideration to accept, the Board shall
consider if acceptance of such consideration may be reasonably expected to benefit the Company (Section 315(b) of the California General Corporation Law). 

 8. Options. 
 (a) Term of Option. The term of each Incentive Stock Option shall be ten (10) years from the date of grant thereof or such shorter term as may be provided in the Incentive Stock Option Agreement. The term of each
Option that is not an Incentive Stock Option shall be ten (10) years from the date of grant thereof or such shorter term as may be provided in the Stock Option Agreement. However, in the case of an Incentive Stock Option granted to an Employee
who, at the time the Option is granted, owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the term of the Option shall be five (5) years from the
date of grant thereof or such shorter time as may be provided in the Stock Option Agreement. 
 (b) Exercise of Option.

 (i) Procedure for Exercise; Rights as a Shareholder. Any Option granted hereunder shall be exercisable at such times and
under such conditions as determined by the Board, including performance criteria with respect to the Company and/or the Optionee, and as shall be permissible under the terms of the Plan. Except in the case of Options granted to officers, directors
and Consultants, Options shall become exercisable at a rate of no less than 20% per year over five (5) years from the date the Options are granted. 
 An Option may not be exercised for a fraction of a Share. 
 An Option shall be deemed to be exercised when written notice of such exercise has been given to the Company in accordance with the terms
of the Option by the person entitled to exercise the Option and full payment for the Shares with respect to which the Option is exercised has been received by the Company. Full payment may, as authorized by the Board, consist of any consideration
and method of payment allowable under Section 7 of the Plan. Until the issuance (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company) of the stock certificate evidencing such
Shares, no right to vote or receive dividends or any other rights as a shareholder shall exist with respect to the Optioned Stock, notwithstanding the exercise of the Option. The Company shall issue (or cause to be issued) such stock certificate
promptly upon exercise of the Option. No adjustment will be made for a dividend or other right for which the record date is prior to the date the stock certificate is issued, except as provided in Section 11 of the Plan. 
 Exercise of an Option in any manner shall result in a decrease in the number of Shares which thereafter may be available, both for
purposes of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised. 
 (ii)
Termination of Status as an Employee or Consultant. In the event of termination of an Optionee’s Continuous Status as an Employee or Consultant (as the case may be), such Optionee may, but only within thirty (30) days (or such other period
of time not exceeding three (3) months in the case of an Incentive Stock Option, as is determined by the Board, with such determination in the case of an Incentive Stock Option being made at the time of grant of the Option) after the date of
such termination (but in no event later than the date of expiration of the term of such Option as set forth in the Option Agreement, exercise the Option to the extent that such Employee or Consultant was entitled to exercise it at the date of such
termination. To the extent that such Employee or Consultant was not entitled to exercise the Option at the date of such termination, or if such Employee or Consultant does not exercise such Option (which such Employee or Consultant was entitled to
exercise) within the time specified herein, the Option shall terminate. 

 (iii) Disability of Optionee. Notwithstanding the provisions of Section 8(b)(ii)
above, in the event of termination of an Optionee’s Continuous Status as an Employee or Consultant as a result of such Employee’s or Consultant’s total and permanent disability (as defined in Section 22(e)(3) of the Code), such
Employee or Consultant may, but only within six (6) months (or such other period of time not exceeding twelve (12) months as is determined by the Board, with such determination in the case of an Incentive Stock Option being made at the
time of grant of the Option) from the date of such termination (but in no event later than the date of expiration of the term of such Option as set forth in the Option Agreement), exercise the Option to the extent such Employee or Consultant was
entitled to exercise it at the date of such termination. To the extent that such Employee or Consultant was not entitled to exercise the Option at the date of termination, or if such Employee or Consultant does not exercise such Option (which such
Employee or Consultant was entitled to exercise) within the time specified herein, the Option shall terminate. 
 (iv) Death
of Optionee. In the event of the death of an Optionee: 
 (A) during the term of the Option who is at the time of his or her
death an Employee or Consultant of the Company and who shall have been in Continuous Status as an Employee or Consultant since the date of grant of the Option, the Option may be exercised, at any time within six (6) months (or such other period
of time as is determined by the Board at the time of grant of the Option) following the date of death (but in no event later than the date of expiration of the term of such Option as set forth in the Option Agreement), by the Optionee’s estate
or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent of the right to exercise that would have accrued had the Optionee continued living and remained in Continuous Status as an Employee or
Consultant six (6) months (or such other period of time as is determined by the Board at the time of grant of the Option) after the date of death, subject to the limitation set forth in Section 5(b); or 
 (B) within thirty (30) days (or such other period of time not exceeding three (3) months as is determined by the Board, with
such determination in the case of an Incentive Stock Option being made at the time of grant of the Option) after the termination of Continuous Status as an Employee or Consultant, the Option may be exercised, at any time within six (6) months
(or such other period of time as is determined by the Board at the time of grant of the Option) following the date of death (but in no event later than the date of expiration of the term of such Option as set forth in the Option Agreement), by the
Optionee’s estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent of the right to exercise that had accrued at the date of termination. 
 9. Stock Purchase Rights. 
 (a) Rights to Purchase. After the Board of Directors determines that it will offer an Employee or Consultant a Stock Purchase Right, it shall deliver to the offeree a stock purchase agreement or stock bonus agreement, as the case may be,
setting forth the terms, conditions and restrictions relating to the offer, including the number of Shares which such person shall be entitled to purchase, and the time within which such person must accept such offer, which shall in no event exceed
six (6) months from the date upon which the Board of Directors or its Committee made the determination to grant the Stock Purchase Right. The terms of the offer shall comply in all respects with Section 260.140.42 of Title 10 of the
California Code of Regulations. The offer shall be accepted by execution of a stock purchase agreement or stock bonus agreement in the form determined by the Board of Directors. 

 (b) Issuance of Shares. Forthwith after payment therefore, the Shares purchased shall be
duly issued; provided, however, that the Board may require that the Purchaser make adequate provision for any Federal and State withholding obligations of the Company as a condition to the Purchaser purchasing such Shares. 
 (c) Repurchase Option. Unless the Board determines otherwise, the stock purchase agreement or stock bonus agreement shall grant the
Company a repurchase option exercisable upon the voluntary or involuntary termination of the Purchaser’s employment with the Company for any reason (including death or disability). If the Board so determines, the purchase price for Shares
repurchased may be paid by cancellation of any indebtedness of the Purchaser to the Company. The repurchase option shall lapse at such rate as the Board may determine. Except with respect to Shares purchased by officers, directors and Consultants,
the repurchase option shall in no case lapse at a rate of less than 20% per year over five (5) years after the date of purchase. 
 (d) Other Provisions. The stock purchase agreement or stock bonus agreement shall contain such other terms, provisions and conditions not inconsistent with the Plan as may be determined by the Board of Directors.

 10. Non-Transferability of Options and Stock Purchase Rights. The Options and Stock Purchase Rights may not be sold, pledged, assigned,
hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Optionee or Purchaser, only by the Optionee or Purchaser. 
 11. Adjustments Upon Changes in Capitalization, Merger or Asset Sale. 
 (a) Changes in Capitalization. Subject to any required action by the shareholders of the Company, the number of Shares covered by each
outstanding Option and Stock Purchase Right, and the number of Shares which have been authorized for issuance under the Plan but as to which no Options or Stock Purchase Rights have yet been granted or which have been returned to the Plan upon
cancellation or expiration of an Option or Stock Purchase Right, or repurchase of Shares from a Purchaser upon termination of employment, as well as the price per Share covered by each such outstanding Option or Stock Purchase Right, 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 of the Company or the payment
of a stock dividend with respect to the Common Stock or any other increase or decrease in the number of issued 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 Board, 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 subject to an Option or Stock Purchase Right. 
 (b) Dissolution or Liquidation. In the event of the proposed
dissolution or liquidation of the Company, the Board shall notify each Optionee as soon as practicable prior to the effective date of such proposed transaction. The Board in its discretion may provide for an Optionee to have the right to exercise
his or her Option or Stock Purchase Right until fifteen (15) days prior to such transaction as to all of the Common Stock covered thereby, including Shares as to which the Option or Stock Purchase Right would not otherwise be exercisable. In
addition, the Board may provide that any Company repurchase option applicable to any Shares purchased upon exercise of an Option or Stock Purchase Right shall lapse as to all such Shares, provided the proposed dissolution or liquidation takes place
at the time and in the manner contemplated. To the extent it has not been previously exercised, an Option or Stock Purchase Right will terminate immediately prior to the consummation of such proposed action. 

 (c) Merger or Asset Sale. In the event of a merger of the Company with or into another
corporation, or the sale of substantially all of the assets of the Company, each outstanding Option and Stock Purchase Right shall be assumed or an equivalent option or right 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 or Stock Purchase Right, the Optionee shall fully vest in and have the right to exercise the Option or Stock Purchase Right as to all
of the Common Stock covered thereby, including Shares as to which it would not otherwise be vested or exercisable. If an Option or Stock Purchase Right becomes fully vested and exercisable in lieu of assumption or substitution in the event of a
merger or sale of assets, the Board shall notify the Optionee in writing or electronically that the Option or Stock Purchase Right shall be fully exercisable for a period of fifteen (15) days from the date of such notice, and the Option or
Stock Purchase Right shall terminate upon the expiration of such period. For the purposes of this paragraph, the Option or Stock Purchase Right shall be considered assumed if, following the merger or sale of assets, the option or right confers the
right to purchase or receive, for each Share subject to the Option or Stock Purchase Right immediately prior to the merger or sale of assets, the consideration (whether stock, cash, or other securities or property) received in the merger or sale of
assets by holders of Common Stock for each share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding shares);
provided, however, that if such consideration received in the merger or sale of assets is not solely common stock of the successor corporation or its parent, the Board may, with the consent of the successor corporation, provide for the consideration
to be received upon the exercise of the Option or Stock Purchase Right, for each Share subject to the Option or Stock Purchase Right, to be solely common stock of the successor corporation or its parent equal in fair market value to the per share
consideration received by holders of Common Stock in the merger or sale of assets. 
 12. Time of Grant. The date of grant of an Option or
Stock Purchase Right shall, for all purposes, be the date on which the Board makes the determination granting such Option or Stock Purchase Right. Notice of the determination shall be given to each Employee or Consultant to whom an Option or Stock
Purchase Right is so granted within a reasonable time after the date of such grant. 
 13. Amendment and Termination of the Plan. 

(a) Amendment and Termination. The Board may amend or terminate the Plan from time to time in such respects as the Board may deem
advisable; provided that, the following revisions or amendments shall require approval of the shareholders of the Company in the manner described in Section 17 of the Plan: 
 (i) any increase in the number of Shares subject to the Plan, other than in connection with an adjustment under Section 11 of the
Plan; or 
 (ii) any change in the designation of the class of persons eligible to be granted Options and Stock Purchase
Rights. 

 (b) Shareholder Approval. If any amendment requiring shareholder approval under
Section 13(a) of the Plan is made subsequent to the first registration of any class of equity securities by the Company under Section 12 of the Exchange Act, such shareholder approval shall be solicited as described in Section 17 of
the Plan. 
 (c) Effect of Amendment or Termination. Any such amendment or termination of the Plan shall not affect Options or
Stock Purchase Rights already granted and such Options or Stock Purchase Rights shall remain in full force and effect as if this Plan had not been amended or terminated, unless mutually agreed otherwise between the Optionee or Purchaser (as the case
may be) and the Board, which agreement must be in writing and signed by the Optionee or Purchaser (as the case may be) and the Company. 
 14. Conditions Upon Issuance of Shares. Shares shall not be issued pursuant to the exercise of an Option or Stock Purchase Rights unless the exercise of such Option or Stock Purchase Rights and the issuance and delivery of such Shares
pursuant thereto shall comply with all relevant provisions of law, including, without limitation, the Securities Act of 1933, as amended, the Exchange Act, the rules and regulations promulgated thereunder, and the requirements of any stock exchange
upon which the Shares may then be listed, and shall be further subject to the approval of counsel for the Company with respect to such compliance. 
 As a condition to the exercise of an Option or Stock Purchase Rights, the Company may require the person exercising such Option or Stock Purchase Rights to represent and warrant at the time of any such exercise that
the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is required by any of the aforementioned relevant provisions
of law. 
 15. Reservation of Shares. The Company, during the term of this Plan, will at all times reserve and keep available such number of
Shares as shall be sufficient to satisfy the requirements of the Plan. 
 The inability of the Company to obtain authority from any
regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to issue or
sell such Shares as to which such requisite authority shall not have been obtained. 
 16. Option, Stock Purchase and Stock Bonus Agreements.
Options shall be evidenced by written option agreements in such form as the Board shall approve. Upon the exercise of Stock Purchase Rights, the Purchaser shall sign a stock purchase agreement or stock bonus agreement in such form as the Board shall
approve. 
 17. Shareholder Approval. 
 (a) Continuance of the Plan shall be subject to approval by the shareholders of the Company within twelve (12) months before or after the date the Plan is adopted. If such shareholder approval is obtained at a
duly held shareholders’ meeting, it must be obtained by the affirmative vote of the holders of a majority of the outstanding shares of the Company, or if such shareholder approval is obtained by written consent, it must be obtained by the
unanimous written consent of all shareholders of the Company; provided, however, that approval at a meeting or by written consent may be obtained by a lesser degree of shareholder approval, if the Board determines, in its discretion 

 
after consultation with the Company’s legal counsel, that such a lesser degree of shareholder approval will comply with all applicable laws and will not
adversely affect the qualification of the Plan under Section 422 of the Code. 
 (b) If and in the event that the Company
registers any class of equity securities pursuant to Section 12 of the Exchange Act, any required approval of the shareholders of the Company obtained after such registration shall be solicited substantially in accordance with
Section 14(a) of the Exchange Act and the rules and regulations promulgated thereunder. 
 (c) If any required approval
by the shareholders of the Plan itself or of any amendment thereto is solicited at any time otherwise than in the manner described in Section 17(b) hereof, then the Company shall, at or prior to the first annual meeting of shareholders held
subsequent to the later of (1) the first registration of any class of equity securities of the Company under Section 12 of the Exchange Act or (2) the granting of an Option hereunder to an officer or director after such registration,
do the following: 
 (i) furnish in writing to the holders entitled to vote for the Plan substantially the same information
which would be required (if proxies to be voted with respect to approval or disapproval of the Plan or amendment were then being solicited) by the rules and regulations in effect under Section 14(a) of the Exchange Act at the time such
information is furnished; and 
 (ii) file with, or mail for filing to, the Securities and Exchange Commission four copies of
the written information referred to in subsection (i) hereof not later than the date on which such information is first sent or given to shareholders. 
 18. Information to Optionees and Purchasers. The Company shall provide to each Optionee and Purchaser, during the period for which such Optionee or Purchaser has one or more Options or Stock Purchase Rights
outstanding, copies of all annual reports and other information which are provided to all shareholders of the Company. The Company shall not be required to provide such information if the issuance of Options or Stock Purchase Rights under the Plan
is limited to key employees whose duties in connection with the Company assure their access to equivalent information. 

 ALSIUS CORPORATION 
 1992 INCENTIVE STOCK PLAN 
 STOCK OPTION AGREEMENT 
 Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Option Agreement. 
  

	I.	NOTICE OF STOCK OPTION GRANT 

  

			
	[NAME]  	 	  

			
	[ADDRESS]  	 	  

 The undersigned Optionee has been granted an Option to purchase Common Stock of the Company,
subject to the terms and conditions of the Plan and this Option Agreement, as follows: 
  

			
	                Grant Number  	 	  

			
	                Date of Grant  	 	  

			
	                Vesting Commencement Date  	 	  

			
	                Exercise Price per Share  	 	  

			
	                Total Number of Shares Granted  	 	  

			
	                Total Exercise Price  	 	  

 Type of Option:
                                        
                                ____Incentive Stock Option 
                                        
                                        
                       ____Nonstatutory Stock Option 
 Term/Expiration Date: 6/18/11 
 Vesting Schedule: 
 This Option shall be exercisable, in whole or in part, according to the following vesting schedule: 
 Twelve forty-eighths (12/48) of the Shares subject to the Option shall vest twelve months after the Vesting Commencement Date and one forty-eighth
(1/48) of the Shares subject to the Option shall vest at the end of each full month thereafter, until all such Shares are exercisable. 
 Termination Period: 
 This Option shall be exercisable for thirty (30) days after the termination of Optionee’s
Continuous Status as an Employee or Consultant. This Option shall be exercisable for six (6) months after the termination of Optionee’s Continuous Status as an Employee or Consultant as a result of Optionee’s death or disability. In
no event may Optionee exercise this Option after the Term/Expiration Date as provided above. 
  

	II.	AGREEMENT 

 1. Grant of Option. The Company hereby grants
to the Optionee named in the Notice of Grant (the “Optionee”), an option (the “Option”) to purchase the number of Shares set forth in the Notice of Grant, at the exercise price per Share set forth in the Notice of Grant (the
“Exercise Price”), and subject to the terms and conditions of the Plan, which is incorporated herein by reference. Subject to Section 13(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and this
Option Agreement, the terms and conditions of the Plan shall prevail. 
 If designated in the Notice of Grant as an Incentive Stock Option
(“ISO”), this Option is intended to qualify as an Incentive Stock Option as defined in Section 422 of the Code. Nevertheless, to the extent that it exceeds 

 
the $100,000 rule of Code Section 422(d), this Option shall be treated as a Nonstatutory Stock Option (“NSO”). 
 2. Exercise of Option. 
 (a)
Right to Exercise. This Option shall be exercisable during its term in accordance with the Vesting Schedule set out in the Notice of Grant and with the applicable provisions of the Plan and this Option Agreement. 
 (b) Method of Exercise. This Option shall be exercisable by delivery of an exercise notice in the form attached as Exhibit A (the Exercise
Notice) which shall state the election to exercise the Option, the number of Shares with respect to which the Option is being exercised, and such other representations and agreements as may be required by the Company. The Exercise Notice shall be
accompanied by payment of the aggregate Exercise Price as to all Exercised Shares. This Option shall be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by the aggregate Exercise Price.

 No Shares shall be issued pursuant to the exercise of an Option unless such issuance and such exercise complies with all relevant
provisions of law and the requirements of any stock exchange upon which the Shares may then be listed. Assuming such compliance, for income tax purposes the Shares shall be considered transferred to the Optionee on the date on which the Option is
exercised with respect to such Shares. 
 3. Optionee’s Representations. In the event the Shares have not been registered under the
Securities Act of 1933, as amended, at the time this Option is exercised, the Optionee shall, if required by the Company, concurrently with the exercise of all or any portion of this Option, deliver to the Company his or her Investment
Representation Statement in the form attached hereto as Exhibit B. 
 4. Lock-Up Period. Optionee hereby agrees that, if so requested by the
Company or any representative of the underwriters (the “Managing Underwriter”) in connection with any registration of the offering of any securities of the Company under the Securities Act, Optionee shall not sell or otherwise transfer any
Shares or other securities of the Company during the 180-day period (or such other period as may be requested in writing by the Managing Underwriter and agreed to in writing by the Company) (the “Market Standoff Period”) following the
effective date of a registration statement of the Company filed under the Securities Act. Such restriction shall apply only to the first registration statement of the Company to become effective under the Securities Act that includes securities to
be sold on behalf of the Company to the public in an underwritten public offering under the Securities Act. The Company may impose stop-transfer instructions with respect to securities subject to the foregoing restrictions until the end of such
Market Standoff Period. 
 5. Method of Payment. Payment of the aggregate Exercise Price shall be by cash or check. 
 6. Restrictions on Exercise. This Option may not be exercised until such time as the Plan has been approved by the shareholders of the Company, or if the
issuance of such Shares upon such exercise or the method of payment of consideration for such shares would constitute a violation of any applicable federal or state securities or other law or regulation. 

 7. Non-Transferability of Option. This Option may not be transferred in any manner otherwise than by will
or by the laws of descent or distribution and may be exercised during the lifetime of Optionee only by Optionee. The terms of the Plan and this Option Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of
the Optionee. 
 8. Term of Option. This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised
during such term only in accordance with the Plan and the terms of this Option. 
 9. Tax Consequences. Set forth below is a brief summary as
of the date of this Option of some of the federal tax consequences of exercise of this Option and disposition of the Shares. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. THE OPTIONEE SHOULD CONSULT
A TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING OF THE SHARES. 
 (a) Exercise of ISO. If this Option qualifies as an
ISO, there will be no regular federal income tax liability upon the exercise of the Option, although the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price will be treated as an adjustment to the
alternative minimum tax for federal tax purposes and may subject the Optionee to the alternative minimum tax in the year of exercise. 
 (b) Exercise of Nonstatutory Stock Option. There may be a regular federal income tax liability upon the exercise of a Nonstatutory Stock Option. The Optionee will be treated as having received compensation income
(taxable at ordinary income tax rates) equal to the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price. If Optionee is an Employee or a former Employee, the Company will be required to withhold
from Optionee’s compensation or collect from Optionee and pay to the applicable taxing authorities an amount in cash equal to a percentage of this compensation income at the time of exercise, and may refuse to honor the exercise and refuse to
deliver Shares if such withholding amounts are not delivered at the time of exercise. 
 (c) Disposition of Shares. In the
case of an NSO, if Shares are held for at least one year, any gain realized on disposition of the Shares will be treated as long-term capital gain for federal income tax purposes. In the case of an ISO, if Shares transferred pursuant to the Option
are held for at least one year after exercise and of at least two years after the Date of Grant, any gain realized on disposition of the Shares will also be treated as long-term capital gain for federal income tax purposes. If Shares purchased under
an ISO are disposed of within one year after exercise or two years after the Date of Grant, any gain realized on such disposition will be treated as compensation income (taxable at ordinary income rates) to the extent of the difference between the
Exercise Price and the lesser of (1) the Fair Market Value of the Shares on the date of exercise, or (2) the sale price of the Shares. Any additional gain will be taxed as capital gain, short-term or long-term depending on the period that
the ISO Shares were held. 
 (d) Notice of Disqualifying Disposition of ISO Shares. If the Option granted to Optionee herein
is an ISO, and if Optionee sells or otherwise disposes of any of the Shares acquired pursuant to the ISO on or before the later of (1) the date two years after the Date of Grant, or (2) the date one year after the date of exercise, the
Optionee shall immediately notify the Company in writing of such disposition. Optionee agrees that Optionee may be subject to income tax withholding by the Company on the compensation income recognized by the Optionee. 

 10. Entire Agreement; Governing Law. The Plan is incorporated herein by reference. The Plan and this
Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Optionee with respect to the subject matter hereof,
and may not be modified adversely to the Optionee’s interest except by means of a writing signed by the Company and Optionee. This agreement is governed by the internal substantive laws but not the choice of law rules of California. 

11. No Guarantee of Continued Service. OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED
ONLY BY CONTINUING SERVICE AS AN EMPLOYEE OR CONSULTANT AT THE WILL OF THE COMPANY (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE
TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS AN EMPLOYEE OR SONSULTANT FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT
INTERFERE IN ANY WAY WITH OPTIONEE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE OPTIONEE’S RELATIONSHIP AS AN EMPLOYEE OR CONSULTANT AT ANY TIME, WITH OR WITHOUT CAUSE. 
 Optionee acknowledges receipt of a copy of the Plan and represents that he or she is familiar with the terms and provisions thereof, and hereby accepts
this Option subject to all of the terms and provisions thereof. Optionee has reviewed the Plan and this Option in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Option and fully understands all
provisions of the Option. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the administrator of the Plan upon any questions arising under the Plan or this Option. Optionee further agrees to notify
the Company upon any change in the residence address indicated below. 
  

					
	 OPTIONEE:
	 		 	 ALSIUS CORPORATION

	   	 		 	   
	Signature	 		 	By
	   	 		 	   
	 Print Name
	 		 	President and CEO.
	  	 		 	Title
	  	 		 	

 Residence Address 

 EXHIBIT A 
 ALSIUS CORPORATION 
 EXERCISE NOTICE 
 Alsius Corporation 
 15770 Laguna Canyon Road 
 Irvine, California 92618 
 Attention: President 
 1.
Exercise of Option. Effective as of today,                     ,         , the undersigned
(“Optionee”) hereby elects to exercise Optionee’s option to purchase                  shares of the Common Stock (the “Shares”) of Alsius
Corporation (the “Company”) under and pursuant to the 1992 Incentive Stock Plan (the “Plan”) and the Stock Option Agreement dated
                    ,          (the “Option Agreement”). 
 2. Delivery of Payment. Purchaser herewith delivers to the Company the full purchase price of the Shares, as set forth in the Option Agreement.

 3. Representations of Optionee. Optionee acknowledges that Optionee has received, read and understood the Plan and the Option Agreement
and agrees to abide by and be bound by their terms and conditions. 
 4. Rights as Shareholder. Until the issuance of the Shares (as
evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a shareholder shall exist with respect to the Optioned Stock,
notwithstanding the exercise of the Option. The Shares shall be issued to the Optionee as soon as practicable after the Option is exercised. No adjustment shall be made for a dividend or other right for which the record date is prior to the date of
issuance except as provided in Section 11 of the Plan. 
 5. Company’s Right of First Refusal. Before any Shares held by Optionee
or any transferee (either being sometimes referred to herein as the “Holder”) may be sold or otherwise transferred (including transfer by gift or operation of law), the Company or its assignee(s) shall have a right of first refusal to
purchase the Shares on the terms and conditions set forth in this Section (the “Right of First Refusal”). 
 (a)
Notice of Proposed Transfer. The Holder of the Shares shall deliver to the Company a written notice (the “Notice”) stating: (i) the Holder’s bona fide intention to sell or otherwise transfer such Shares; (ii) the name of
each proposed purchaser or other transferee (“Proposed Transferee”); (iii) the number of Shares to be transferred to each Proposed Transferee; and (iv) the bona fide cash price or other consideration for which the Holder proposes
to transfer the Shares (the “Offered Price”), and the Holder shall offer the Shares at the Offered Price to the Company or its assignee(s). 
 (b) Exercise of Right of First Refusal. At any time within thirty (30) days after receipt of the Notice, the Company and/or its assignee(s) may, by giving written notice to the Holder, elect to purchase all, but
not less than all, of the Shares proposed to be transferred to any one or more of the Proposed Transferees, at the purchase price determined in accordance with subsection (c) below. 
 (c) Purchase Price. The purchase price (“Purchase Price”) for the Shares purchased by the Company or its assignee(s) under this
Section shall be the Offered Price. If the Offered Price includes consideration other than cash, the cash equivalent value of the non-cash consideration shall be determined by the Board of Directors of the Company in good faith. 
 (d) Payment. Payment of the Purchase Price shall be made, at the option of the Company or its assignee(s), in cash (by check), by
cancellation of all or a portion of any outstanding indebtedness of the Holder to the Company 

 
(or, in the case of repurchase by an assignee, to the assignee), or by any combination thereof within 30 days after receipt of the Notice or in the manner
and at the times set forth in the Notice. 
 (e) Holder’s Right to Transfer. If all of the Shares proposed in the Notice
to be transferred to a given Proposed Transferee are not purchased by the Company and/or its assignee(s) as provided in this Section, then the Holder may sell or otherwise transfer such Shares to that Proposed Transferee at the Offered Price or at a
higher price, provided that such sale or other transfer is consummated within 120 days after the date of the Notice, that any such sale or other transfer is effected in accordance with any applicable securities laws and that the Proposed Transferee
agrees in writing that the provisions of this Section shall continue to apply to the Shares in the hands of such Proposed Transferee. If the Shares described in the Notice are not transferred to the Proposed Transferee within such period, a new
Notice shall be given to the Company, and the Company and/or its assignees shall again be offered the Right of First Refusal before any Shares held by the Holder may be sold or otherwise transferred. 
 (f) Exception for Certain Family Transfers. Anything to the contrary contained in this Section notwithstanding, the transfer of any or all
of the Shares during the Optionee’s lifetime or on the Optionee’s death by will or intestacy to the Optionee’s immediate family or a trust for the benefit of the Optionee’s immediate family shall be exempt from the provisions of
this Section. “Immediate Family” as used herein shall mean spouse, lineal descendant or antecedent, father, mother, brother or sister. In such case, the transferee or other recipient shall receive and hold the Shares so transferred subject
to the provisions of this Section, and there shall be no further transfer of such Shares except in accordance with the terms of this Section. 
 (g) Termination of Right of First Refusal. The Right of First Refusal shall terminate as to any Shares upon the first sale of Common Stock of the Company to the general public pursuant to a registration statement
filed with and declared effective by the Securities and Exchange Commission under the Securities Act of 1933, as amended. 
 6. Tax
Consultation. Optionee understands that Optionee may suffer adverse tax consequences as a result of Optionee’s purchase or disposition of the Shares. Optionee represents that Optionee has consulted with any tax consultants Optionee deems
advisable in connection with the purchase or disposition of the Shares and that Optionee is not relying on the Company for any tax advice. 
 7. Restrictive Legends and Stop-Transfer Orders. 
 (a) Legends. Optionee understands and agrees that the Company
shall cause the legends set forth below or legends substantially equivalent thereto, to be placed upon any certificate(s) evidencing ownership of the Shares together with any other legends that may be required by the Company or by state or federal
securities laws: 
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND MAY
NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF COMPANY COUNSEL SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR
HYPOTHECATION IS IN COMPLIANCE THEREWITH. 

 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND A RIGHT OF
FIRST REFUSAL HELD BY THE ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN THE EXERCISE NOTICE BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH TRANSFER RESTRICTIONS AND
RIGHT OF FIRST REFUSAL ARE BINDING ON TRANSFEREES OF THESE SHARES. 
 (b) Stop-Transfer Notices. Optionee agrees that, in
order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate “stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make
appropriate notations to the same effect in its own records. 
 (c) Refusal to Transfer. The Company shall not be required
(i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of any of the provisions of this Agreement or (ii) to treat as owner of such Shares or to accord the right to vote or pay dividends to any
purchaser or other transferee to whom such Shares shall have been so transferred. 
 8. Successors and Assigns. The Company may assign any of
its rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Agreement shall be binding
upon Optionee and his or her heirs, executors, administrators, successors and assigns. 
 9. Interpretation. Any dispute regarding the
interpretation of this Agreement shall be submitted by Optionee or by the Company forthwith to the administrator of the plan which shall review such dispute at its next regular meeting. The resolution of such a dispute by the administrator of the
plan shall be final and binding on all parties. 
 10. Governing Law; Severability. This Agreement is governed by the internal substantive
laws but not the choice of law rules, of California. 
 11. Entire Agreement. The Plan and Option Agreement are incorporated herein by
reference. This Agreement, the Plan, the Option Agreement and the Investment Representation Statement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and
agreements of the Company and Optionee with respect to the subject matter hereof, and may not be modified adversely to the Optionee’s interest except by means of a writing signed by the Company and Optionee. 
  

					
	Submitted by:	 		 	Accepted by:
			
	 OPTIONEE:
	 		 	ALSIUS CORPORATION:
			
	   	 		 	   
	 Signature
	 		 	By
			
	   	 		 	   
	 Print Name
	 		 	Its
			
	 Address:
	 		 	Address:
	  	 		 	 15770 Laguna Canyon Road, Suite 150

	  	 		 	 Irvine, California 92618

			
		 		 	  
		 		 	Date Received

 EXHIBIT B 
 INVESTMENT REPRESENTATION STATEMENT 
 OPTIONEE:
                     
 COMPANY: ALSIUS
CORPORATION 
 SECURITY: COMMON STOCK 
 AMOUNT:
                     
 DATE:
                     
 In connection with the
purchase of the above-listed Securities, the undersigned Optionee represents to the Company the following: 
 (a) Optionee is
aware of the Company’s business affairs and financial condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Securities. Optionee is acquiring these Securities for
investment for Optionee’s own account only and not with a view to, or for resale in connection with, any “distribution” thereof within the meaning of the Securities Act of 1933, as amended (the “Securities Act”). 

(b) Optionee acknowledges and understands that the Securities constitute “restricted securities” under the Securities Act and
have not been registered under the Securities Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of Optionee’s investment intent as expressed herein. In this connection,
Optionee understands that, in the view of the Securities and Exchange Commission, the statutory basis for such exemption may be unavailable if Optionee’s representation was predicated solely upon a present intention to hold these Securities for
the minimum capital gains period specified under tax statutes, for a deferred sale, for or until an increase or decrease in the market price of the Securities, or for a period of one year or any other fixed period in the future. Optionee further
understands that the Securities must be held indefinitely unless they are subsequently registered under the Securities Act or an exemption from such registration is available. Optionee further acknowledges and understands that the Company is under
no obligation to register the Securities. Optionee understands that the certificate evidencing the Securities will be imprinted with a legend which prohibits the transfer of the Securities unless they are registered or such registration is not
required in the opinion of counsel satisfactory to the Company, a legend prohibiting their transfer without the consent of the Commissioner of Corporations of the State of California and any other legend required under applicable state securities
laws. 

 (c) Optionee is familiar with the provisions of Rule 701 and Rule 144, each promulgated
under the Securities Act, which, in substance, permit limited public resale of “restricted securities” acquired, directly or indirectly from the issuer thereof, in a non-public offering subject to the satisfaction of certain conditions.
Rule 701 provides that if the issuer qualifies under Rule 701 at the time of the grant of the Option to the Optionee, the exercise will be exempt from registration under the Securities Act. In the event the Company becomes subject to the reporting
requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, ninety (90) days thereafter (or such longer period as any market stand-off agreement may require) the Securities exempt under Rule 701 may be resold, subject to
the satisfaction of certain of the conditions specified by Rule 144, including: (1) the resale being made through a broker in an unsolicited “broker’s transaction” or in transactions directly with a market maker (as said term is
defined under the Securities Exchange Act of 1934); and, in the case of an affiliate, (2) the availability of certain public information about the Company, (3) the amount of Securities being sold during any three month period not exceeding
the limitations specified in Rule 144(e), and (4) the timely filing of a Form 144, if applicable. 
 In the event that the Company does
not qualify under Rule 701 at the time of grant of the Option, then the Securities may be resold in certain limited circumstances subject to the provisions of Rule 144, which requires the resale to occur not less than two years after the later of
the date the Securities were sold by the Company or the date the Securities were sold by an affiliate of the Company, within the meaning of Rule 144; and, in the case of acquisition of the Securities by an affiliate, or by a non-affiliate who
subsequently holds the Securities less than three years, the satisfaction of the conditions set forth in sections (1), (2), (3) and (4) of the paragraph immediately above. 
 (d) Optionee further understands that in the event all of the applicable requirements of Rule 701 or 144 are not satisfied, registration
under the Securities Act, compliance with Regulation A, or some other registration exemption will be required; and that, notwithstanding the fact that Rules 144 and 701 are not exclusive, the Staff of the Securities and Exchange Commission has
expressed its opinion that persons proposing to sell private placement securities other than in a registered offering and otherwise than pursuant to Rules 144 or 701 will have a substantial burden of proof in establishing that an exemption from
registration is available for such offers or sales, and that such persons and their respective brokers who participate in such transactions do so at their own risk. Optionee understands that no assurances can be given that any such other
registration exemption will be available in such event. 
  

							
	 Signature of Optionee:

	
	  
	 Date:
	 	  	 	 ,2004 Stock Incentive Plan

 Exhibit 10.23 
 ALSIUS CORPORATION 
 2004 STOCK INCENTIVE PLAN 
 ADOPTED BY THE BOARD EFFECTIVE MARCH 17, 2004 
 APPROVED BY THE SHAREHOLDERS EFFECTIVE MARCH 17, 2004 
 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 SECTION 1. PURPOSE
	  	1
		
	 SECTION 2. DEFINITIONS
	  	1
	 2.1
	  	“Board”	  	1
	 2.2
	  	“Change in Control”	  	1
	 2.3
	  	“Code”	  	2
	 2.4
	  	“Committee”	  	2
	 2.5
	  	“Company”	  	2
	 2.6
	  	“Consultant”	  	2
	 2.7
	  	“Disability”	  	2
	 2.8
	  	“Employee”	  	2
	 2.9
	  	“Exchange Act”	  	2
	 2.10
	  	“Exercise Price”	  	2
	 2.11
	  	“Fair Market Value”	  	2
	 2.12
	  	“ISO”	  	2
	 2.13
	  	“NSO”	  	2
	 2.14
	  	“Option”	  	2
	 2.15
	  	“Optionee”	  	3
	 2.16
	  	“Outside Director”	  	3
	 2.17
	  	“Parent”	  	3
	 2.18
	  	“Plan”	  	3
	 2.19
	  	“Purchase Price”	  	3
	 2.20
	  	“Purchaser”	  	3
	 2.21
	  	“Restricted Share Agreement”	  	3
	 2.22
	  	“Securities Act”	  	3
	 2.23
	  	“Service”	  	3
	 2.24
	  	“Share”	  	3
	 2.25
	  	“Stock”	  	3
	 2.26
	  	“Stock Option Agreement”	  	3
	 2.27
	  	“Subsidiary”	  	3
	 2.28
	  	“Ten-Percent Shareholder”	  	4
		
	 SECTION 3. ADMINISTRATION
	  	4
	 3.1
	  	General Rule	  	4
	 3.2
	  	Board Authority and Responsibility	  	4
		
	 SECTION 4. ELIGIBILITY
	  	4
	 4.1
	  	General Rule	  	4
		
	 SECTION 5. STOCK SUBJECT TO PLAN
	  	4
	 5.1
	  	Share Limit	  	4
	 5.2
	  	Additional Shares	  	4

  

 -i- 

					
	 SECTION 6. RESTRICTED SHARES
	  	5
	 6.1
	  	Restricted Share Agreement	  	5
	 6.2
	  	Duration of Offers and Nontransferability of Purchase Rights	  	5
	 6.3
	  	Purchase Price	  	5
	 6.4
	  	Repurchase Rights and Transfer Restrictions	  	5
		
	 SECTION 7. STOCK OPTIONS
	  	5
	 7.1
	  	Stock Option Agreement	  	5
	 7.2
	  	Number of Shares; Kind of Option	  	5
	 7.3
	  	Exercise Price	  	5
	 7.4
	  	Term	  	6
	 7.5
	  	Exercisability	  	6
	 7.6
	  	Repurchase Rights and Transfer Restrictions	  	6
	 7.7
	  	Transferability of Options	  	7
	 7.8
	  	Exercise of Options on Termination of Service	  	7
	 7.9
	  	No Rights as a Shareholder	  	7
	 7.10
	  	Modification, Extension and Renewal of Options	  	7
		
	 SECTION 8. PAYMENT FOR SHARES
	  	7
	 8.1
	  	General	  	7
	 8.2
	  	Surrender of Stock	  	7
	 8.3
	  	Services Rendered	  	8
	 8.4
	  	Promissory Notes	  	8
	 8.5
	  	Exercise/Sale	  	8
	 8.6
	  	Exercise/Pledge	  	8
	 8.7
	  	Other Forms of Payment	  	8
		
	 SECTION 9. ADJUSTMENT OF SHARES
	  	8
	 9.1
	  	General	  	8
	 9.2
	  	Dissolution or Liquidation	  	9
	 9.3
	  	Mergers and Consolidations	  	9
	 9.4
	  	Reservation of Rights	  	9
		
	 SECTION 10. REPURCHASE RIGHTS
	  	9
	 10.1
	  	Company’s Right To Repurchase Shares	  	9
		
	 SECTION 11. WITHHOLDING TAXES
	  	10
	 11.1
	  	General	  	10
	 11.2
	  	Share Withholding	  	10
	 11.3
	  	Cashless Exercise/Pledge	  	10
	 11.4
	  	Other Forms of Payment	  	10
		
	 SECTION 12. SECURITIES LAW REQUIREMENTS
	  	10
	 12.1
	  	General	  	10
	 12.2
	  	Voting and Dividend Rights	  	10
	 12.3
	  	Financial Reports	  	11
		
	 SECTION 13. NO RETENTION RIGHTS
	  	11
		
	 SECTION 14. DURATION AND AMENDMENTS
	  	11
	 14.1
	  	Term of the Plan	  	11
	 14.2
	  	Right to Amend or Terminate the Plan	  	11
	 14.3
	  	Effect of Amendment or Termination	  	11
		
	 SECTION 15. EXECUTION
	  	12

  

 -ii- 

 ALSIUS CORPORATION 
 2004 STOCK INCENTIVE PLAN 
 SECTION 1. PURPOSE. 
 The Plan was adopted by the Board of Directors effective March ____, 2004. The purpose of the Plan is to offer selected service providers the opportunity
to acquire equity in the Company through awards of Options (which may constitute incentive stock options or nonstatutory stock options) and the award or sale of Shares. 
 The award of Options and the award or sale of Shares under the Plan is intended to be exempt from the securities qualification requirements of the California Corporations Code by satisfying the exemption under section
25102(o) of the California Corporations Code. However, awards of Options and the award or sale of Shares may be made in reliance upon other state securities law exemptions. To the extent that such other exemptions are relied upon, the terms of this
Plan which are included only to comply with section 25102(o) shall be disregarded to the extent provided in the Stock Option Agreement or Restricted Share Agreement. 
 SECTION 2. DEFINITIONS. 
  

	2.1	“Board” shall mean the Board of Directors of the Company, as constituted from time to time. 

  

	2.2	“Change in Control” shall mean the occurrence of any of the following events: 

  

	 	(a)	The consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, if persons who were not shareholders of the Company
immediately prior to such merger, consolidation or other reorganization own immediately after such merger, consolidation or other reorganization fifty percent (50%) or more of the voting power of the outstanding securities of each of (A) the
continuing or surviving entity and (B) any direct or indirect parent corporation of such continuing or surviving entity; 

  

	 	(b)	The consummation of the sale, transfer or other disposition of all or substantially all of the Company’s assets or the shareholders of the Company approve a plan of complete
liquidation of the Company; or 

  

	 	(c)	Any “person” (as defined below) who, by the acquisition or aggregation of securities, 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 fifty percent (50%) or more of the combined voting power of the Company’s then outstanding securities ordinarily (and apart from rights accruing under special
circumstances) having the right to vote at elections of directors (the “Base Capital Stock”); except that any change in the relative beneficial ownership of the Company’s securities by any person resulting solely from a reduction in
the aggregate number of outstanding shares of Base Capital Stock, and any decrease thereafter in such person’s ownership of securities, shall be disregarded until such person increases in any manner, directly or indirectly, such person’s
beneficial ownership of any securities of the Company. 

  

 -1- 

 For purposes of Section 2.2 (c), the term “person” shall have the same meaning as when used in sections
13(d) and 14(d) of the Exchange Act but shall exclude (1) a trustee or other fiduciary holding securities under an employee benefit plan maintained by the Company or a Parent or Subsidiary and (2) a corporation owned directly or indirectly
by the shareholders of the Company in substantially the same proportions as their ownership of the Stock. 
 Notwithstanding the foregoing, the term
“Change in Control” shall not include a transaction the sole purpose of which is (a) to change the state of the Company’s incorporation, (b) to form a holding company that will be owned in substantially the same proportions
by the persons who held the Company’s securities immediately before such transaction; or (c) to make an initial public offering of the Company’s Stock. 
  

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

  

	2.4	“Committee” shall mean the committee designated by the Board, which is authorized to administer the Plan, as described in Section 3 hereof. 

 

	2.5	“Company” shall mean Alsius Corporation, a California corporation. (1) 

  

	2.6	“Consultant” shall mean a consultant or advisor who is not an Employee or Outside Director and who performs bona fide services for the Company, a Parent or Subsidiary.

  

	2.7	“Disability” shall mean a condition that renders an individual unable to engage in substantial gainful activity by reason of any medically determinable physical or mental
impairment. 

  

	2.8	“Employee” shall mean any individual who is a common-law employee of the Company, a Parent or a Subsidiary and who is an “employee” within the meaning of section
3401 (c) of the Code and regulations issued thereunder. 

  

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

  

	2.10	“Exercise Price” shall mean the amount for which one Share may be purchased upon the exercise of an Option, as specified in a Stock Option Agreement.

  

	2.11	“Fair Market Value” means, with respect to a Share, the market price of one Share of Stock, determined by the Board in good faith. Such determination shall be conclusive
and binding on all persons. 

  

	2.12	“ISO” shall mean an incentive stock option described in section 422(b) of the Code. 

  

	2.13	“NSO” shall mean a stock option that is not an ISO. 

  

	2.14	“Option” shall mean an ISO or NSO granted under the Plan and entitling the holder to purchase Shares. 

	(1)	California corporation: change to California 

  

 -2- 

	2.15	“Optionee” shall mean an individual or estate that holds an Option. 

  

	2.16	“Outside Director” shall mean a member of the Board of the Company, a Parent or a Subsidiary who is not an Employee. 

  

	2.17	“Parent” shall mean any corporation (other than the Company) in an unbroken chain of corporations ending with the Company, if each of the corporations other than the
Company owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. A corporation that attains the status of a Parent on a date after the adoption
of the Plan shall be considered a Parent commencing as of such date. 

  

	2.18	“Plan” shall mean the ALSIUS CORPORATION 2004 Stock Incentive Plan. 

  

	2.19	“Purchase Price” shall mean the consideration for which one Share may be acquired under the Plan (other than upon exercise of an Option). 

  

	2.20	“Purchaser” shall mean a person to whom the Board has offered the right to acquire Shares under the Plan (other than upon exercise of an Option). 

 

	2.21	“Restricted Share Agreement” shall mean the agreement between the Company and a Purchaser who acquires Shares under the Plan that contains the terms, conditions and
restrictions pertaining to the acquisition of such Shares. 

  

	2.22	“Securities Act” shall mean the Securities Act of 1933, as amended. 

  

	2.23	“Service” shall mean service as an Employee, a Consultant or an Outside Director. Service shall be deemed to continue during a bona fide leave of absence approved by the
Company in writing if and to the extent that continued crediting of Service for purposes of the Plan is expressly required by the terms of such leave or by applicable law, as determined by the Company. However, for purposes of determining whether an
Option is entitled to ISO status, and to the extent required under the Code, an Employee’s Service will be treated as terminating ninety (90) days after such Employee went on leave, unless such Employee’s right to return to active
work is guaranteed by law or by a contract or such Employee immediately returns to active work. 

  

	2.24	“Share” shall mean one share of Stock, as adjusted in accordance with Section 9 (if applicable). 

  

	2.25	“Stock” shall mean the common stock of the Company. 

  

	2.26	“Stock Option Agreement” shall mean the agreement between the Company and an Optionee which contains the terms, conditions and restrictions pertaining to the
Optionee’s Option. 

  

 -3- 

	2.27	“Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company, if each of the corporations other than the
last corporation in the unbroken chain owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. A corporation that attains the status of a
Subsidiary on a date after the adoption of the Plan shall be considered a Subsidiary commencing as of such date. 

  

	2.28	“Ten-Percent Shareholder” means an individual who owns more than ten percent (10%) of the total combined voting power of all classes of outstanding stock of the
Company, its Parent or any of its Subsidiaries. In determining stock ownership for purposes of this Section 2.28, the attribution rules of section 424(d) of the Code shall be applied. 

 SECTION 3. ADMINISTRATION. 
  

	3.1	General Rule. The Plan shall be administered by the Board. However, the Board may delegate any or all administrative functions under the Plan otherwise exercisable by the Board to
one or more Committees. Each Committee shall consist of two or more members of the Board who have been appointed by the Board. Each Committee shall have the authority and be responsible for such functions as the Board has assigned to it. If a
Committee has been appointed, any reference to the Board in the Plan shall be construed as a reference to the Committee to whom the Board has assigned a particular function. 

  

	3.2	Board Authority and Responsibility. Subject to the provisions of the Plan, the Board shall have full authority and discretion to take any actions it deems necessary or advisable for
the administration of the Plan. All decisions, interpretations and any other actions of the Board with respect to the Plan shall be final and binding on all persons deriving rights under the Plan. 

 SECTION 4. ELIGIBILITY. 
  

	4.1	General Rule. Only Employees shall be eligible for the grant of ISOs. Only Employees, Consultants and Outside Directors shall be eligible for the grant of NSOs or the award or sale
of Shares. 

 SECTION 5. STOCK SUBJECT TO PLAN. 
  

	5.1	Share Limit. Subject to Sections 5.2 and 9, the aggregate number of Shares which may be issued under the Plan shall not exceed 1,800,000 Shares. The number of Shares which are
subject to Options or other rights outstanding at any time shall not exceed the number of Shares which then remain available for issuance under the Plan. The Company, during the term of the Plan, shall at all times reserve and keep available
sufficient Shares to satisfy the requirements of the Plan. Shares offered under the Plan may be authorized but unissued Shares. 

  

	5.2	Additional Shares. In the event that any outstanding Option or other right expires or is canceled for any reason, the Shares allocable to the unexercised portion of such Option or
other right shall remain available for issuance pursuant to the Plan. If a Share previously issued under the Plan is reacquired by the Company pursuant to a forfeiture provision, right of repurchase or right of first refusal, then such Share shall
again become available for issuance under the Plan. 

  

 -4- 

 SECTION 6. RESTRICTED SHARES. 
  

	6.1	Restricted Share Agreement. Each award or sale of Shares under the Plan (other than upon exercise of an Option) shall be evidenced by a Restricted Share Agreement between the
Purchaser and the Company. Such award or sale shall be subject to all applicable terms and conditions of the Plan and may be subject to any other terms and conditions imposed by the Board, as set forth in the Restricted Share Agreement, that are not
inconsistent with the Plan. The provisions of the various Restricted Share Agreements entered into under the Plan need not be identical. 

  

	6.2	Duration of Offers and Nontransferability of Purchase Rights. Any right to acquire Shares (other than an Option) shall automatically expire if not exercised by the Purchaser within
thirty (30) days after the Company communicates the grant of such right to the Purchaser. Such right shall be nontransferable and shall be exercisable only by the Purchaser to whom the right was granted. 

  

	6.3	Purchase Price. The Purchase Price of Shares offered under the Plan shall not be less than eighty-five percent (85%) of the Fair Market Value of such Shares; provided, however,
if the Purchaser is a Ten-Percent Shareholder, the Purchase Price shall not be less than one hundred percent (100%) of the Fair Market Value of such Shares. Subject to the foregoing in this Section 6.3, the Board shall determine the amount
of the Purchase Price in its sole discretion. The Purchase Price shall be payable in a form described in Section 8. 

  

	6.4	Repurchase Rights and Transfer Restrictions. Each award or sale of Shares shall be subject to such forfeiture conditions, rights of repurchase, rights of first refusal and other
transfer restrictions as the Board may determine, subject to the requirements of Section 10. Such restrictions shall be set forth in the applicable Restricted Share Agreement and shall apply in addition to any restrictions otherwise applicable
to holders of Shares generally. 

 SECTION 7. STOCK OPTIONS. 
  

	7.1	Stock Option Agreement. Each grant of an Option under the Plan shall be evidenced by a Stock Option Agreement between the Optionee and the Company. The Option shall be subject to
all applicable terms and conditions of the Plan and may be subject to any other terms and conditions imposed by the Board, as set forth in the Stock Option Agreement, which are not inconsistent with the Plan. The provisions of the various Stock
Option Agreements entered into under the Plan need not be identical. 

  

	7.2	Number of Shares; Kind of Option. Each Stock Option Agreement shall specify the number of Shares that are subject to the Option and shall provide for the adjustment of such number
in accordance with Section 9. The Stock Option Agreement shall also specify whether the Option is intended to be an ISO or an NSO. 

  

	7.3	Exercise Price. Each Stock Option Agreement shall set forth the Exercise Price, which shall be payable in a form described in Section 8. Subject to the following requirements,
the Exercise Price under any Option shall be determined by the Board in its sole discretion: 

  

 -5- 

	 	(a)	Minimum Exercise Price for ISOs. The Exercise Price per Share of an ISO shall not be less than one hundred percent (100%) of the Fair Market Value of a Share on the date of
grant; provided, however, that the Exercise Price per Share of an ISO granted to a Ten-Percent Shareholder shall not be less than one hundred ten percent (110%) of the Fair Market Value of a Share on the date of grant. 

 

	 	(b)	Minimum Exercise Price for NSOs. The Exercise Price per Share of an NSO shall not be less than eighty-five percent (85%) of the Fair Market Value of a Share on the date of
grant; provided, however, that the Exercise Price per Share of an NSO granted to a Ten-Percent Shareholder shall not be less than one hundred ten percent (110%) of the Fair Market Value of a Share on the date of grant. 

 

	7.4	Term. Each Stock Option Agreement shall specify the term of the Option. The term of an Option shall in no event exceed ten (10) years from the date of grant. The term of an ISO
granted to a Ten-Percent Shareholder shall not exceed five (5) years from the date of grant. Subject to the foregoing, the Board in its sole discretion shall determine when an Option shall expire. 

  

	7.5	Exercisability. Each Stock Option Agreement shall specify the date when all or any installment of the Option is to become exercisable; provided, however, that no Option shall be
exercisable unless the Optionee has delivered to the Company an executed copy of the Stock Option Agreement. Subject to the following restrictions, the Board in its sole discretion shall determine when all or any installment of an Option is to
become exercisable and may, in its discretion, provide for accelerated exercisability in the event of a Change in Control or other events: 

  

	 	(a)	Options Granted to Employees. An Option granted to an Optionee who is not a Consultant or an officer or director of the Company, a Parent or a Subsidiary shall be exercisable at the
minimum rate of twenty percent (20%) per year for each of the first five (5) years starting from the date of grant, subject to reasonable conditions such as continued Service. 

  

	 	(b)	Options Granted to Outside Directors, Consultants or Officers. An Option granted to an Optionee who is a Consultant or an officer or director of the Company, a Parent or a
Subsidiary shall be exercisable at any time or during any period established by the Board, subject to reasonable conditions such as continued Service. 

  

	 	(c)	Early Exercise. A Stock Option Agreement may permit the Optionee to exercise the Option as to Shares that are subject to a right of repurchase by the Company in accordance with the
requirements of Section 10.1. 

  

	7.6	Repurchase Rights and Transfer Restrictions. Shares purchased on exercise of Options shall be subject to such forfeiture conditions, rights of repurchase, rights of first refusal
and other transfer restrictions as the Board may determine, subject to the requirements of Section 10. Such restrictions shall be set forth in the applicable Stock Option Agreement and shall apply in addition to any restrictions otherwise
applicable to holders of Shares generally. 

  

 -6- 

	7.7	Transferability of Options. During an Optionee’s lifetime, his or her Options shall be exercisable only by the Optionee or by the Optionee’s guardian or legal
representatives, and shall not be transferable other than by beneficiary designation, will or the laws of descent and distribution. Notwithstanding the foregoing, however, to the extent that a Stock Option Agreement so provides, an NSO may be
transferred by the Optionee to one or more family members or a trust established for the benefit of the Optionee and/or one or more family members to the extent permitted by section 260.140.41(d) of Title 10 of the California Code of Regulations and
Rule 701 of the Securities Act. 

  

	7.8	Exercise of Options on Termination of Service. Each Option shall set forth the extent to which the Optionee shall have the right to exercise the Option following termination of the
Optionee’s Service. Each Stock Option Agreement shall provide the Optionee with the right to exercise the Option following the Optionee’s termination of Service during the Option term, to the extent the Option was exercisable for vested
Shares upon termination of Service, for at least thirty (30) days if termination of Service is due to any reason other than cause, death or Disability, and for at least six (6) months after termination of Service if due to death or
Disability (but in no event later than the expiration of the Option term). If the Optionee’s Service is terminated for cause, the Stock Option Agreement may provide that the Optionee’s right to exercise the Option terminates immediately on
the effective date of the Optionee’s termination. To the extent the Option was not exercisable for vested Shares upon termination of Service, the Option shall terminate when the Optionee’s Service terminates. Subject to the foregoing, such
provisions shall be determined in the sole discretion of the Board, need not be uniform among all Options issued pursuant to the Plan, and may reflect distinctions based on the reasons for termination of Service. 

  

	7.9	No Rights as a Shareholder. An Optionee, or a transferee of an Optionee, shall have no rights as a shareholder with respect to any Shares covered by the Option until such person
becomes entitled to receive such Shares by filing a notice of exercise and paying the Exercise Price pursuant to the terms of the Option. No adjustments shall be made, except as provided in Section 9. 

  

	7.10	Modification, Extension and Renewal of Options. Within the limitations of the Plan, the Board may modify, extend or renew outstanding Options or may accept the cancellation of
outstanding Options (to the extent not previously exercised), whether or not granted hereunder, in return for the grant of new Options for the same or a different number of Shares and at the same or a different Exercise Price. The foregoing
notwithstanding, no modification of an Option shall, without the consent of the Optionee, impair his or her rights or increase the Optionee’s obligations under such Option. 

 SECTION 8. PAYMENT FOR SHARES. 
  

	8.1	General. The entire Purchase Price or Exercise Price of Shares issued under the Plan shall be payable in cash, cash equivalents or one of the other forms provided in this
Section 8. 

  

	8.2	 Surrender of Stock. To the extent that a Stock Option Agreement so provides, payment may be made in whole or in part by surrendering, or attesting to ownership of,
Shares 

  

 -7- 

	 	 
which have already been owned by the Optionee; provided, however, that payment may not be made in such form if such action would cause the Company to
recognize any (or additional) compensation expense with respect to the Option for financial reporting purposes. Such Shares shall be surrendered to the Company in good form for transfer and shall be valued at their Fair Market Value on the date of
Option exercise. 

  

	8.3	Services Rendered. As determined by the Board in its discretion, Shares may be awarded under the Plan in consideration of past services rendered to the Company, a Parent or
Subsidiary. 

  

	8.4	Promissory Notes. To the extent that a Stock Option Agreement or Restricted Share Agreement so provides, payment may be made in whole or in part with a full-recourse promissory note
executed by the Optionee or Purchaser; provided that the Optionee or Purchaser is an Employee or Outside Director. The interest rate payable under the promissory note shall not be less than the minimum rate required to avoid the imputation of income
for federal income tax purposes. Shares shall be pledged as security for payment of the principal amount of the promissory note, and interest thereon, and in no event shall the stock certificate(s) representing such Shares be released to the
Optionee or Purchaser until such note is paid in full. Subject to the foregoing, the Board shall determine the term, interest rate and other provisions of the note. 

  

	8.5	Exercise/Sale. To the extent that a Stock Option Agreement so provides and a public market for the Shares exists, payment may be made in whole or in part by delivery (on a form
prescribed by the Company) of an irrevocable direction to a securities broker approved by the Company to sell Shares and to deliver all or part of the sale proceeds to the Company in payment of all or part of the Exercise Price and any withholding
taxes. 

  

	8.6	Exercise/Pledge. To the extent that a Stock Option Agreement so provides and a public market for the Shares exists, payment may be made in whole or in part by delivery (on a form
prescribed by the Company) of an irrevocable direction to a securities broker or lender approved by the Company to pledge Shares, as security for a loan, and to deliver all or part of the loan proceeds to the Company in payment of all or part of the
Exercise Price and any withholding taxes. 

  

	8.7	Other Forms of Payment. To the extent provided in the Stock Option Agreement or Restricted Share Agreement, payment may be made in any other form that is consistent with applicable
laws, regulations and rules. 

 SECTION 9. ADJUSTMENT OF SHARES. 
  

	9.1	General. In the event of a subdivision of the outstanding Stock, a declaration of a dividend payable in Shares, a declaration of an extraordinary dividend payable in a form other
than Shares in an amount that has a material effect on the Fair Market Value of the Stock, a combination or consolidation of the outstanding Stock into a lesser number of Shares, a recapitalization, a spin-off, a reclassification, or a similar
occurrence, the Board shall make appropriate adjustments to one or more of the following: (i) the number of Shares available for future awards under Section 5; (ii) the number of Shares covered by each outstanding Option; or
(iii) the Exercise Price under each outstanding Option. 

  

 -8- 

	9.2	Dissolution or Liquidation. To the extent not previously exercised or settled, Options shall terminate immediately prior to the dissolution or liquidation of the Company.

  

	9.3	Mergers and Consolidations. In the event that the Company is a party to a merger or other consolidation, outstanding Options shall be subject to the agreement of merger or
consolidation. Such agreement may provide for one or more of the following: (i) the continuation of the outstanding Options by the Company, if the Company is a surviving corporation; (ii) the assumption of the Plan and outstanding Options
by the surviving corporation or its parent; (iii) the substitution by the surviving corporation or its parent of options with substantially the same terms for such outstanding Options; (iv) immediate exercisability of such outstanding Options
followed by the cancellation of such Options; or (v) settlement of the full value of the outstanding Options (whether or not then exercisable) in cash or cash equivalents followed by the cancellation of such Options; in each case without the
Optionee’s consent. 

  

	9.4	Reservation of Rights. Except as provided in this Section 9, an Optionee or offeree shall have no rights by reason of any subdivision or consolidation of shares of stock of any
class, the payment of any dividend or any other increase or decrease in the number of shares of stock of any class. Any issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall not
affect, and no adjustment by reason thereof shall be made with respect to, the number or Exercise Price of Shares subject to an Option. The grant of an Option pursuant to the Plan shall not affect in any way the right or power of the Company to make
adjustments, reclassifications, reorganizations or changes of its capital or business structure, to merge or consolidate or to dissolve, liquidate, sell or transfer all or any part of its business or assets. 

 SECTION 10. REPURCHASE RIGHTS. 
  

	10.1	Company’s Right To Repurchase Shares. The Company shall have the right to repurchase Shares that have been acquired through an award or sale of Shares or exercise of an Option
upon termination of the Purchaser’s or Optionee’s Service if provided in the applicable Restricted Share Agreement or Stock Option Agreement. Subject to the following restrictions, the Board in its sole discretion shall determine when the
right to repurchase shall lapse as to all or any portion of the Shares, and may, in its discretion, provide for accelerated vesting in the event of a Change in Control or other events. The following restrictions shall apply in the case of a
Purchaser or Optionee who is not a Consultant or an officer or director of the Company, a Parent or Subsidiary: 

  

	 	(a)	Repurchase Price. If the Company retains a right to repurchase the Shares at not less than the Fair Market Value of the Shares on the date that the Purchaser’s Service
terminates, then such repurchase right shall terminate when the Company’s Stock becomes publicly traded. If the Company retains a right to repurchase the Shares at the original Purchase Price or Exercise Price, then such repurchase right shall
lapse at the minimum rate of twenty percent (20%) per year over the five (5) year period starting on the date of the award or sale of Shares or grant of the Option. 

  

 -9- 

	 	(b)	Exercise of Repurchase Right. The Company’s right of repurchase under this Section 10.1 may be exercised only within ninety (90) days of the date on which the
Purchaser’s or Optionee’s Service terminates or, if the Optionee acquired the Shares upon exercise of an Option after the date of termination, within ninety (90) days from the date of exercise. 

  

	 	(c)	Payment of Repurchase Price. The Company shall pay the repurchase price in cash, cash equivalents or for cancellation of indebtedness incurred in purchasing the Shares.

 SECTION 11. WITHHOLDING TAXES. 
  

	11.1	General. An Optionee or Purchaser or his or her successor shall make arrangements satisfactory to the Board for the satisfaction of any federal, state, local or foreign withholding
tax obligations that may arise in connection with the Plan. The Company shall not be required to issue any Shares or make any cash payment under the Plan until such obligations are satisfied. 

  

	11.2	Share Withholding. The Board may permit an Optionee or Purchaser to satisfy all or part of his or her withholding or income tax obligations by having the Company withhold all or a
portion of any Shares that otherwise would be issued to him or her or by surrendering all or a portion of any Shares that he or she previously acquired; provided, however, that in no event may an Optionee or Purchaser surrender Shares in excess of
the legally required withholding amount. Such Shares shall be valued at their Fair Market Value on the date when taxes otherwise would be withheld in cash. Any payment of taxes by assigning Shares to the Company may be subject to restrictions,
including any restrictions required by rules of any federal or state regulatory body or other authority. 

  

	11.3	Cashless Exercise/Pledge. The Board may provide that if Company Shares are publicly traded at the time of exercise, arrangements may be made to meet the Optionee’s or
Purchaser’s withholding obligation by cashless exercise or pledge. 

  

	11.4	Other Forms of Payment. The Board may permit such other means of tax withholding as it deems appropriate. 

 SECTION 12. SECURITIES LAW REQUIREMENTS. 
  

	12.1	General. Shares shall not be issued under the Plan unless the issuance and delivery of such Shares complies with (or is exempt from) all applicable requirements of law, including
(without limitation) the Securities Act, the rules and regulations promulgated thereunder, state securities laws and regulations, and the regulations of any stock exchange or other securities market on which the Company’s securities may then be
listed. 

  

	12.2	Voting and Dividend Rights. The holders of Shares acquired under the Plan shall have the same voting, dividend and other rights as the Company’s other shareholders. A
Restricted Share Agreement, however, may require that the holders of Shares invest any cash dividends received in additional Shares. Such additional Shares shall be subject to the same conditions and restrictions as the award with respect to which
the dividends were paid. 

  

 -10- 

	12.3	Financial Reports. At least annually, the Company shall furnish its financial statements, including a balance sheet regarding the Company’s financial condition and results of
operations, to Optionees, Purchasers and shareholders who have received Shares under the Plan, unless such persons are key employees whose duties at the Company assure them access to equivalent information. Financial statements need not be audited.

 SECTION 13. NO RETENTION RIGHTS. 
 No provision of the Plan, or any right or Option granted under the Plan, shall be construed to give any Optionee or Purchaser any right to become an
Employee, to be treated as an Employee, or to continue in Service for any period of time, or restrict in any way the rights of the Company (or Parent or subsidiary to whom the Optionee or Purchaser provides Service), which rights are expressly
reserved, to terminate the Service of such person at any time and for any reason, with or without cause, without thereby incurring any liability to him or her. 
 SECTION 14. DURATION AND AMENDMENTS. 
  

	14.1	Term of the Plan. The Plan, as set forth herein, shall become effective on the date of its adoption by the Board, subject to the approval of the Company’s shareholders. In the
event that the shareholders fail to approve the Plan within twelve (12) months after its adoption by the Board, any grants, exercises or sales that have already occurred under the Plan shall be rescinded, and no additional grants, exercises or
sales shall be made under the Plan after such date. The Plan shall terminate automatically ten (10) years after its adoption by the Board. The Plan may be terminated on any earlier date pursuant to Section 14.2 below.

  

	14.2	Right to Amend or Terminate the Plan. The Board may amend, suspend, or terminate the Plan at any time and for any reason. An amendment of the Plan shall not be subject to the
approval of the Company’s shareholders unless it (i) increases the number of Shares available for issuance under the Plan (except as provided in Section 9) or (ii) materially changes the class of persons who are eligible for the
grant of Options or the award or sale of Shares. At least two-thirds (2/3) of the Company’s Shares entitled to vote must affirmatively approve an increase in the number of Shares available for issuance if the total number of Shares that
may be issued upon the exercise of all outstanding Options and the total number of Shares provided under any stock bonus or similar plan of the Company exceed thirty percent (30%) of all outstanding Shares of the Company.

  

	14.3	Effect of Amendment or Termination. No Shares shall be issued or sold under the Plan after the termination thereof, except upon exercise of an Option granted prior to such
termination. The termination of the Plan, or any amendment thereof, shall not affect any Shares previously issued or any Option previously granted under the Plan. 

  

 -11- 

 SECTION 15. EXECUTION. 
 To record the adoption of the Plan by the Board on March 17, 2004, effective on such date, the Company has caused its authorized officer to execute
the same. 
  

			
	 Alsius Corporation,
 a California corporation

		
	 By 
	 	 /s/ William Worthen

		 	 William Worthen

		 	 President and CEO

  

 -12- 

 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933 OR THE
SECURITIES LAWS OF ANY STATE OR FOREIGN JURISDICTION, AND MAY BE OFFERED AND SOLD ONLY IF REGISTERED AND QUALIFIED PURSUANT TO THE RELEVANT PROVISIONS OF U.S. FEDERAL AND STATE OR APPLICABLE FOREIGN SECURITIES LAWS OR IF THE COMPANY IS PROVIDED AN
OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION AND QUALIFICATION UNDER U.S. FEDERAL AND STATE OR APPLICABLE FOREIGN SECURITIES LAWS IS NOT REQUIRED. 
 ALSIUS CORPORATION 
 2004 STOCK INCENTIVE PLAN 
 NOTICE OF STOCK OPTION GRANT 
 ALSIUS
CORPORATION (the “Company”) hereby grants you the following Option to purchase shares of its common stock (“Shares”). The terms and conditions of this Option are set forth in the Stock Option Agreement and the ALSIUS CORPORATION
2004 Stock Incentive Plan (the “Plan”), both of which are attached to and made a part of this document. 
  

			
	Date of Grant:	  	March 17, 2004
		
	Name of Optionee:	  	[Name of Optionee]
		
	Number of Option Shares:	  	[Number of Shares]
		
	Exercise Price per Share:	  	$                    
		
	Vesting Start Date:	  	[Vesting Start Date]
		
	Type of Option:	  	[Type of Grant: NSO/ISO]
		
	Vesting Schedule:	  	[The Option vests with respect to 1/___ of the Shares when the Optionee completes each full month of continuous Service after the Vesting Start Date.] OR [The Option vests with respect to the
first 25% of the Shares when the Optionee completes 12 months of continuous Service after the Vesting Start Date, and with respect to an additional 1/48th of the Shares when the Optionee completes each full month of continuous Service
thereafter.]
		
	Payment Forms:	  	By cash, cash equivalents, or Shares owned by the Optionee for at least six months, and if the Company’s Shares become publicly traded, by “cashless” exercise, as set forth in
the Stock Option Agreement.

  

 -13- 

 ALSIUS CORPORATION 
 NOTICE OF STOCK OPTION GRANT 
 BY SIGNING THIS DOCUMENT, YOU ACKNOWLEDGE RECEIPT OF A COPY OF THE
PLAN, AND AGREE THAT (A) YOU HAVE CAREFULLY READ, FULLY UNDERSTAND AND AGREE TO ALL OF THE TERMS AND CONDITIONS DESCRIBED IN THE ATTACHED STOCK OPTION AGREEMENT, THE PLAN DOCUMENT AND “NOTICE OF EXERCISE AND COMMON STOCK PURCHASE
AGREEMENT” (THE “EXERCISE NOTICE”); (B) YOU HEREBY MAKE THE PURCHASER’S INVESTMENT REPRESENTATIONS CONTAINED IN THE EXERCISE NOTICE WITH RESPECT TO THE GRANT OF THIS OPTION; (C) YOU UNDERSTAND AND AGREE THAT THIS STOCK
OPTION AGREEMENT, INCLUDING ITS COVER SHEET AND ATTACHMENTS, CONSTITUTES THE ENTIRE UNDERSTANDING BETWEEN YOU AND THE COMPANY REGARDING THIS OPTION, AND THAT ANY PRIOR AGREEMENTS, COMMITMENTS OR NEGOTIATIONS CONCERNING THIS OPTION ARE REPLACED AND
SUPERSEDED; AND (D) YOU HAVE BEEN GIVEN AN OPPORTUNITY TO CONSULT LEGAL COUNSEL WITH RESPECT TO ALL MATTERS RELATING TO THIS OPTION PRIOR TO SIGNING THIS COVER SHEET AND THAT YOU HAVE EITHER CONSULTED SUCH COUNSEL OR VOLUNTARILY DECLINED TO
CONSULT SUCH COUNSEL. 
  

									
	 NAME OF OPTIONEE
	 		 	 ALSIUS CORPORATION

				
	  	 		 	 By:
	 	  
		 		 		 	 Name:
	 	  
		 		 		 	 Title:
	 	  

  

 ALSIUS CORPORATION 
 NOTICE OF STOCK OPTION GRANT 
 -14- 

 ALSIUS CORPORATION 
 2004 STOCK INCENTIVE PLAN 
 STOCK OPTION AGREEMENT 
 SECTION 1. KIND OF OPTION. 
 This Option is intended
to be either an incentive stock option intended to meet the requirements of section 422 of the Internal Revenue Code (an “ISO”) or a non-statutory option (an “NSO”), which is not intended to meet the requirements of an ISO, as
indicated in the Notice of Stock Option Grant. Even if this Option is designated as an ISO, it shall be deemed to be an NSO to the extent required by the $100,000 annual limitation under Section 422(d) of the Code. 
 SECTION 2. VESTING. 
 Subject to the terms and
conditions of the Plan and this Stock Option Agreement (the “Agreement”), your Option and the Shares shall vest in accordance with the schedule set forth in the Notice of Stock Option Grant. After your Service terminates for any reason,
vesting of your Option and Shares immediately stops and your Option expires immediately as to the number of Shares that are not vested as of your Service termination date. 
 SECTION 3. TERM. 
 Your Option will expire in any event at the close of business at Company
headquarters on March 17, 2014; provided, however, that if your Option is an ISO it will expire within five (5) years of the Date of Grant if you are a Ten-Percent Shareholder of the Company. Also, your Option will expire earlier if your
Service terminates, as described below. 
 SECTION 4. REGULAR TERMINATION. 
  

	 	(a)	If your Service terminates for any reason except death or Disability, the vested portion of your Option will expire at the close of business at Company headquarters on the date
three (3) months after your termination of Service. During that three (3) month period, you may exercise the portion of your Option that was vested on your termination date. Notwithstanding the foregoing, the Option may not be exercised
after the expiration date determined under Section 3 above. 

  

	 	(b)	If your Option is an ISO and you exercise it more than three months after termination of your Service as an Employee for any reason other than death or Disability expected to result
in death or to last for a continuous period of at least twelve (12) months, your Option will cease to be eligible for ISO tax treatment. 

  

	 	(c)	 Your Option will cease to be eligible for ISO tax treatment if you exercise it more than three months after the 90th day of a bona fide leave of absence approved by

  

 ALSIUS CORPORATION 
 STOCK OPTION AGREEMENT 
 -15- 

	 	 
the Company, unless your right to reemployment after your leave was guaranteed by statute or contract. 

 SECTION 5. DEATH. 
 If you die while in Service with
the Company, the vested portion of your Option will expire at the close of business at Company headquarters on the date twelve (12) months after the date of your death. During that twelve (12) month period, your estate, legatees or heirs
may exercise that portion of your Option that was vested on the date of your death. Notwithstanding the foregoing, the Option may not be exercised after the expiration date determined under Section 3 above. 
 SECTION 6. DISABILITY. 
  

	 	(a)	If your Service terminates because of a Disability, the vested portion of your Option will expire at the close of business at Company headquarters on the date six (6) months
after your termination date. During that six (6) month period, you may exercise that portion of your Option that was vested on the date of your Disability. “Disability” means that you are unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment. Notwithstanding the foregoing, the Option may not be exercised after the expiration date determined under Section 3 above. 

  

	 	(b)	If your Option is an ISO and your Disability is not expected to result in death or to last for a continuous period of at least twelve (12) months, your Option will be eligible
for ISO tax treatment only if it is exercised within three (3) months following the termination of your Service as an Employee. 

 SECTION 7. EXERCISING YOUR OPTION. 
 Until your Option terminates or expires under Sections 3, 4, 5 and 6, you may exercise
it for some or all of the Shares that are vested. To exercise your Option, you must execute the Notice of Exercise and Common Stock Purchase Agreement (the “Exercise Notice”), attached as Exhibit A. You must submit this form, together with
full payment, to the Company. Your exercise will be effective when it is received by the Company. If someone else wants to exercise your Option after your death, that person must prove to the Company’s satisfaction that he or she is entitled to
do so. 
 SECTION 8. PAYMENT FORMS. 
 When
you exercise your Option, you must include payment of the Exercise Price for the Shares you are purchasing in one of the payment forms indicated in the cover sheet. To the extent that a public market for the Shares exists and to the extent permitted
by applicable law, in each case as determined by the Company, you also may exercise your Option by delivery (on a form prescribed by the Company) of an irrevocable direction to a securities broker to sell Shares and to deliver all or part of the
sale proceeds to the Company in payment of the aggregate 

  

 ALSIUS CORPORATION 
 STOCK OPTION AGREEMENT 
 -16- 

 
Exercise Price. The Company will provide the forms necessary to make such a cashless exercise. 
 SECTION 9. TAX WITHHOLDING AND REPORTING. 
  

	 	(a)	You will not be allowed to exercise this Option unless you make acceptable arrangements to pay any withholding or other taxes that may be due as a result of the Option exercise or
the sale of Shares acquired upon exercise of this Option. 

  

	 	(b)	If you sell or otherwise dispose of any of the Shares acquired pursuant to an ISO on or before the later of (i) two years after the grant date, or (ii) one year after the
exercise date, you shall immediately notify the Company in writing of such disposition. 

 SECTION 10. RIGHT OF FIRST REFUSAL.

 In the event that you propose to sell, pledge or otherwise transfer to a third party any Shares acquired under this Agreement, or any
interest in such Shares, the Company shall have a “Right of First Refusal” with respect to such Shares in accordance with the provisions of the Exercise Notice. 
 SECTION 11. RESALE RESTRICTIONS/MARKET STAND-OFF. 
 In connection with any underwritten public
offering by the Company of its equity securities pursuant to an effective registration statement filed under the U.S. Securities Act of 1933, as amended, including the Company’s initial public offering, you may be prohibited from engaging in
any transaction with respect to any of the Company’s common stock without the prior written consent of the Company or its underwriters in accordance with the provisions of the Exercise Notice. 
 SECTION 12. TRANSFER OF OPTION. 
 Prior to your death,
only you may exercise this Option. This Option and the rights and privileges conferred hereby cannot be sold, pledged or otherwise transferred (whether by operation of law or otherwise) and shall not be subject to sale under execution, attachment,
levy or similar process. For instance, you may not sell this Option or use it as security for a loan. If you attempt to do any of these things, this Option will immediately become invalid. You may, however, dispose of this Option in your will.
Regardless of any marital property settlement agreement, the Company is not obligated to honor an Exercise Notice from your spouse or former spouse, nor is the Company obligated to recognize such individual’s interest in your Option in any
other way. 
  

 ALSIUS CORPORATION 
 STOCK OPTION AGREEMENT 
 -17- 

 SECTION 13. RETENTION RIGHTS. 
 This Agreement does not give you the right to be retained by the Company in any capacity. The Company reserves the right to terminate your Service at any time and for any reason without thereby incurring any liability
to you. 
 SECTION 14. SHAREHOLDER RIGHTS. 
 Neither you nor your estate or heirs have any rights as a shareholder of the Company until a certificate for the Shares acquired upon exercise of this Option has been issued. No adjustments are made for dividends or other rights if the
applicable record date occurs before your stock certificate is issued, except as described in the Plan. 
 SECTION 15. ADJUSTMENTS. 
 In the event of a stock split, a stock dividend or a similar change in the Company’s Stock, the number of Shares covered by this Option and the
Exercise Price per share may be adjusted pursuant to the Plan. Your Option shall be subject to the terms of the agreement of merger, liquidation or reorganization in the event the Company is subject to such corporate activity as set forth in the
Plan. 
 SECTION 16. LEGENDS. 
 All
certificates representing the Shares issued upon exercise of this Option shall, where applicable, have endorsed thereon the following legends: 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OR FOREIGN JURISDICTION, AND MAY BE OFFERED AND SOLD ONLY IF
REGISTERED AND QUALIFIED PURSUANT TO THE RELEVANT PROVISIONS OF U.S. FEDERAL AND STATE OR APPLICABLE FOREIGN SECURITIES LAWS OR IF THE COMPANY IS PROVIDED AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION AND QUALIFICATION UNDER
U.S. FEDERAL AND STATE OR APPLICABLE FOREIGN SECURITIES LAWS IS NOT REQUIRED. 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE
SOLD, TRANSFERRED, ENCUMBERED OR IN ANY MANNER DISPOSED OF, EXCEPT IN COMPLIANCE WITH THE TERMS OF A WRITTEN AGREEMENT BETWEEN THE COMPANY AND THE INITIAL HOLDER HEREOF. SUCH AGREEMENT PROVIDES FOR CERTAIN TRANSFER RESTRICTIONS, INCLUDING RIGHTS OF
FIRST REFUSAL UPON AN ATTEMPTED TRANSFER OF THE SECURITIES. THE SECRETARY OF 

  

 ALSIUS CORPORATION 
 STOCK OPTION AGREEMENT 
 -18- 

 
THE COMPANY WILL UPON WRITTEN REQUEST FURNISH A COPY OF SUCH AGREEMENT TO THE HOLDER HEREOF WITHOUT CHARGE. 
 If the Option is an ISO, then the following legend should be included: 
 THE SHARES REPRESENTED BY THIS CERTIFICATE WERE ISSUED UPON EXERCISE OF AN INCENTIVE STOCK OPTION, AND THE COMPANY MUST BE NOTIFIED IF THE SHARES SHALL BE TRANSFERRED BEFORE THE LATER OF THE TWO (2) YEAR
ANNIVERSARY OF THE DATE OF GRANT OF THE OPTION OR THE ONE (1) YEAR ANNIVERSARY OF THE DATE ON WHICH THE OPTION WAS EXERCISED. THE REGISTERED HOLDER MAY RECOGNIZE ORDINARY INCOME IF THE SHARES ARE TRANSFERRED BEFORE SUCH DATE. 
 SECTION 17. APPLICABLE LAW AND TAXES DISCLAIMER. 
 This Agreement will be interpreted and enforced under the laws of the State of California (without regard to their choice of law provisions). You agree that you are responsible for consulting your own tax advisor as to the tax consequences
associated with your Option. The tax rules governing options are complex, change frequently and depend on the individual taxpayer’s situation. Although the Company will make available to you general tax information about stock options, you
agree that the Company shall not be held liable or responsible for making such information available to you and any tax or financial consequences that you may incur in connection with your Option. 
 SECTION 18. THE PLAN AND OTHER AGREEMENTS. 
 The text
of the Plan is incorporated in this Agreement by reference. Certain capitalized terms used in this Agreement are defined in the Plan. The Notice of Stock Option Grant, this Agreement, including its attachments, and the Plan constitute the entire
understanding between you and the Company regarding this Option. Any prior agreements, commitments or negotiations concerning this Option are superseded. 
  

 ALSIUS CORPORATION 
 STOCK OPTION AGREEMENT 
 -19- 

 EXHIBIT A 
 ALSIUS CORPORATION 2004 STOCK INCENTIVE PLAN 
 NOTICE OF EXERCISE AND COMMON STOCK PURCHASE
AGREEMENT 
 THIS AGREEMENT is dated as of
                    ,         , between Alsius Corporation (the “Company”), and [Name
of Optionee] (“Purchaser”). 
 WITNESSETH: 
 WHEREAS, the Company and Purchaser are parties to a stock option agreement dated as of [Date] (the “Option Agreement”) under which Purchaser has the right to purchase up to [Number of Shares] shares of the
Company’s common stock (the “Option Shares”); and 
 WHEREAS, the Option is exercisable with respect to certain of the Option
Shares as of the date hereof; and 
 WHEREAS, pursuant to the Option Agreement, Purchaser desires to purchase shares of the Company as herein
described, on the terms and conditions set forth in this Agreement, the Option Agreement and the Alsius Corporation 2004 Stock Incentive Plan (the “Plan”). Certain capitalized terms used in this Agreement are defined in the Plan.

 NOW, THEREFORE, it is agreed between the parties as follows: 
 SECTION 1. PURCHASE OF SHARES. 
  

	 	(a)	Pursuant to the terms of the Option Agreement, Purchaser hereby agrees to purchase from the Company and the Company agrees to sell and issue to Purchaser
                     shares of the Company’s common stock (the “Common Stock”) for the Exercise Price per share specified in
the Option Agreement payable by personal check, cashier’s check, money order or otherwise as permitted by the Option Agreement. Payment shall be delivered at the Closing, as such term is defined below. 

  

	 	(b)	The closing (the “Closing”) under this Agreement shall occur at the offices of the Company as of the date hereof, or such other time and place as may be designated by the
Company (the “Closing Date”). 

 SECTION 2. ADJUSTMENT OF SHARES. 
 Subject to the provisions of the Articles of Incorporation of the Company, if (a) there is any stock dividend or liquidating dividend of cash and/or
property, stock split or other change in the character or amount of any of the outstanding securities of the Company, or (b) there is any consolidation, merger or sale of all or substantially all of the assets of the Company, then, in such
event, any and all new, substituted or additional securities or other property to which Purchaser is entitled by reason of Purchaser’s ownership of the shares shall be immediately subject to the Right of First Refusal, as defined below, with
the same force and effect as the shares subject to 

  

 ALSIUS CORPORATION 
 EXHIBIT A TO STOCK OPTION AGREEMENT 
 NOTICE OF EXERCISE AND COMMON STOCK PURCHASE AGREEMENT

 A-1 

 
the Right of First Refusal. Appropriate adjustments shall be made to the number and/or class of shares subject to the Right of First Refusal to reflect the
exchange or distribution of such securities. In the event of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, the Right of First Refusal may be exercised by the Company’s successor.

 SECTION 3. THE COMPANY’S RIGHT OF FIRST REFUSAL. 
 Before any shares of Common Stock registered in the name of Purchaser may be sold or transferred, such shares shall first be offered to the Company as follows (the “Right of First Refusal”): 
  

	 	(a)	Purchaser shall promptly deliver a notice (“Notice”) to the Company stating (i) Purchaser’s bona fide intention to sell or transfer such shares, (ii) the
number of such shares to be sold or transferred, and the basic terms and conditions of such sale or transfer, (iii) the price for which Purchaser proposes to sell or transfer such shares, (iv) the name of the proposed purchaser or
transferee, and (v) proof satisfactory to the Company that the proposed sale or transfer will not violate any applicable U.S. federal, state or foreign securities laws. The Notice shall be signed by both Purchaser and the proposed purchaser or
transferee and must constitute a binding commitment subject to the Company’s Right of First Refusal as set forth herein. 

  

	 	(b)	Within thirty (30) days after receipt of the Notice, the Company may elect to purchase all or any portion of the shares to which the Notice refers, at the price per share
specified in the Notice. If the Company elects not to purchase all or any portion of the shares, the Company may assign its right to purchase all or any portion of the shares. The assignees may elect within thirty (30) days after receipt by the
Company of the Notice to purchase all or any portion of the shares to which the Notice refers, at the price per share specified in the Notice. An election to purchase shall be made by written notice to Purchaser. Payment for shares purchased
pursuant to this Section 3 shall be made within thirty (30) days after receipt of the Notice by the Company and, at the option of the Company, may be made by cancellation of all or a portion of outstanding indebtedness, if any, or in cash
or both. 

  

	 	(c)	If all or any portion of the shares to which the Notice refers are not elected to be purchased, as provided in subparagraph 3(b), Purchaser may sell those shares to any person named
in the Notice at the price specified in the Notice, provided that such sale or transfer is consummated within sixty (60) days of the date of said Notice to the Company, and provided, further, that any such sale is made in compliance with
applicable U.S. federal, state and foreign securities laws and not in violation of any other contractual restrictions to which Purchaser is bound. The third-party purchaser shall be bound by, and shall acquire the shares of stock subject to, the
provisions of this Agreement, including the Company’s Right of First Refusal. 

  

 ALSIUS CORPORATION 
 EXHIBIT A TO STOCK OPTION AGREEMENT 
 NOTICE OF EXERCISE AND COMMON STOCK PURCHASE AGREEMENT

 A-2 

	 	(d)	Any proposed transfer on terms and conditions different from those set forth in the Notice, as well as any subsequent proposed transfer shall again be subject to the Company’s
Right of First Refusal and shall require compliance with the procedures described in this Section 3. 

  

	 	(e)	Purchaser agrees to cooperate affirmatively with the Company, to the extent reasonably requested by the Company, to enforce rights and obligations pursuant to this Agreement.

  

	 	(f)	Notwithstanding the above, neither the Company nor any assignee of the Company under this Section 3 shall have any right under this Section 3 at any time subsequent to the
closing of a public offering of the common stock of the Company pursuant to a registration statement declared effective under the U.S. Securities Act of 1933, as amended (the “Securities Act”). 

  

	 	(g)	This Section 3 shall not apply to (i) a transfer by will or intestate succession, or (ii) a transfer to one or more members of Purchaser’s Immediate Family
(defined below) or to a trust established by Purchaser for the benefit of Purchaser and/or one or more members of Purchaser’s Immediate Family, provided that the transferee agrees in writing on a form prescribed by the Company to be bound by
all of the provisions of this Agreement to the same extent as they apply to Purchaser. The transferee shall execute a copy of the attached Exhibit B and file the same with the Secretary of the Company. For purposes of this Agreement, Immediate
Family means any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law, and shall include adoptive relationships.

 SECTION 4. PURCHASER’S RIGHTS AFTER EXERCISE OF RIGHT OF FIRST REFUSAL. 
 If the Company makes available, at the time and place and in the amount and form provided in this Agreement, the consideration for the Common Stock to be
repurchased in accordance with the provisions of Section 3 of this Agreement, then from and after such time the person from whom such shares are to be repurchased shall no longer have any rights as a holder of such shares (other than the right
to receive payment of such consideration in accordance with this Agreement). Such shares shall be deemed to have been repurchased in accordance with the applicable provisions hereof, whether or not the certificate(s) therefor have been delivered as
required by this Agreement. 
 SECTION 5. LEGEND OF SHARES. 
 All certificates representing the Common Stock purchased under this Agreement shall, where applicable, have endorsed thereon the following legends and any other legends required by applicable securities laws:

  

 ALSIUS CORPORATION 
 EXHIBIT A TO STOCK OPTION AGREEMENT 
 NOTICE OF EXERCISE AND COMMON STOCK PURCHASE AGREEMENT

 A-3 

 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED OR QUALIFIED UNDER THE U.S.
SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OR FOREIGN JURISDICTION, AND MAY BE OFFERED AND SOLD ONLY IF REGISTERED AND QUALIFIED PURSUANT TO THE RELEVANT PROVISIONS OF U.S. FEDERAL AND STATE OR APPLICABLE FOREIGN
SECURITIES LAWS OR IF THE COMPANY IS PROVIDED AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION AND QUALIFICATION UNDER U.S. FEDERAL AND STATE OR APPLICABLE FOREIGN SECURITIES LAWS IS NOT REQUIRED. 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD, TRANSFERRED, ENCUMBERED OR IN ANY MANNER DISPOSED OF, EXCEPT IN COMPLIANCE WITH THE TERMS
OF A WRITTEN AGREEMENT BETWEEN THE COMPANY AND THE INITIAL HOLDER HEREOF. SUCH AGREEMENT PROVIDES FOR CERTAIN TRANSFER RESTRICTIONS, INCLUDING RIGHTS OF FIRST REFUSAL UPON AN ATTEMPTED TRANSFER OF THE SECURITIES. THE SECRETARY OF THE COMPANY WILL
UPON WRITTEN REQUEST FURNISH A COPY OF SUCH AGREEMENT TO THE HOLDER HEREOF WITHOUT CHARGE. 
 If the Option is an ISO, then the following
legend should be included: 
 THE SHARES REPRESENTED BY THIS CERTIFICATE WERE ISSUED UPON EXERCISE OF AN INCENTIVE STOCK OPTION, AND THE
COMPANY MUST BE NOTIFIED IF THE SHARES SHALL BE TRANSFERRED BEFORE THE LATER OF THE TWO (2) YEAR ANNIVERSARY OF THE DATE OF GRANT OF THE OPTION OR THE ONE (1) YEAR ANNIVERSARY OF THE DATE ON WHICH THE OPTION WAS EXERCISED. THE REGISTERED
HOLDER MAY RECOGNIZE ORDINARY INCOME IF THE SHARES ARE TRANSFERRED BEFORE SUCH DATE. 
 SECTION 6. PURCHASER’S INVESTMENT REPRESENTATIONS.

  

	 	(a)	 This Agreement is made with Purchaser in reliance upon Purchaser’s representation to the Company, which by Purchaser’s acceptance hereof Purchaser
confirms, that the Common Stock which Purchaser will receive will be acquired with Purchaser’s own funds for investment for an indefinite period for Purchaser’s own account, not as a nominee or agent, and not with a view to the sale or
distribution of any part thereof, and that Purchaser has no present intention of selling, granting participation in, or otherwise distributing the same, but subject, nevertheless, to any requirement of law that the disposition of Purchaser’s
property shall at all times be within Purchaser’s control. By executing this Agreement, Purchaser further represents that Purchaser does not have any contract, understanding or agreement with any person to sell, transfer, or grant 

  

 ALSIUS CORPORATION 
 EXHIBIT A TO STOCK OPTION AGREEMENT 
 NOTICE OF EXERCISE AND COMMON STOCK PURCHASE AGREEMENT

 A-4 

	 	 
participation to such person or to any third person, with respect to any of the Common Stock. 

  

	 	(b)	Purchaser understands that the Common Stock will not be registered or qualified under applicable U.S. federal, state or foreign securities laws on the ground that the sale provided
for in this Agreement is exempt from registration or qualification under applicable U.S. federal, state or foreign securities laws and that the Company’s reliance on such exemption is predicated on Purchaser’s representations set forth
herein. 

  

	 	(c)	Purchaser agrees that in no event shall Purchaser make a disposition of any of the Common Stock (including a disposition under Section 3 of this Agreement), unless and until
(i) Purchaser shall have notified the Company of the proposed disposition and shall have furnished the Company with a statement of the circumstances surrounding the proposed disposition and (ii) Purchaser shall have furnished the Company
with an opinion of counsel satisfactory to the Company to the effect that (A) such disposition will not require registration or qualification of such Common Stock under applicable U.S. federal, state or foreign securities laws or
(B) appropriate action necessary for compliance with the applicable U.S. federal, state or foreign securities laws has been taken or (iii) the Company shall have waived, expressly and in writing, its rights under clauses (i) and
(ii) of this Section. 

  

	 	(d)	With respect to a transaction occurring prior to such date as the Plan and Common Stock thereunder are covered by a valid Form S-8 or similar U.S. federal registration statement,
this Subsection shall apply unless the transaction is covered by the exemption in California Corporations Code section 25102(o) or a similar broad-based exemption. In connection with the investment representations made herein, Purchaser represents
that Purchaser is able to fend for himself or herself in the transactions contemplated by this Agreement, has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of Purchaser’s
investment, has the ability to bear the economic risks of Purchaser’s investment and has been furnished with and has had access to such information as would be made available in the form of a registration statement together with such additional
information as is necessary to verify the accuracy of the information supplied and to have all questions answered by the Company. 

  

	 	(e)	 Purchaser understands that if the Company does not register with the U.S. Securities and Exchange Commission pursuant to section 12 of the U.S. Securities Exchange
Act of 1934, as amended, or if a registration statement covering the Common Stock (or a filing pursuant to the exemption from registration under Regulation A of the Securities Act) under the Securities Act is not in effect when Purchaser desires to
sell the Common Stock, Purchaser may be required to hold the Common Stock for an indeterminate period. Purchaser also acknowledges that Purchaser understands that any sale of the Common Stock which might be 

  

 ALSIUS CORPORATION 
 EXHIBIT A TO STOCK OPTION AGREEMENT 
 NOTICE OF EXERCISE AND COMMON STOCK PURCHASE AGREEMENT

 A-5 

	 	 
made by Purchaser in reliance upon Rule 144 under the Securities Act may be made only in limited amounts in accordance with the terms and conditions of that
Rule. 

 SECTION 7. NO DUTY TO TRANSFER IN VIOLATION OF THIS AGREEMENT. 
 The Company shall not be required (a) to transfer on its books any shares of Common Stock of the Company which shall have been sold or transferred in
violation of any of the provisions set forth in this Agreement or (b) to treat as owner of such shares or to accord the right to vote as such owner or to pay dividends to any transferee to whom such shares shall have been so transferred.

 SECTION 8. RIGHTS OF PURCHASER. 
  

	 	(a)	Except as otherwise provided herein, Purchaser shall, during the term of this Agreement, exercise all rights and privileges of a shareholder of the Company with respect to the
Common Stock. 

  

	 	(b)	Nothing in this Agreement shall be construed as a right by Purchaser to be retained by the Company, or a parent or subsidiary of the Company in any capacity. The Company reserves
the right to terminate Purchaser’s Service at any time and for any reason without thereby incurring any liability to Purchaser. 

 SECTION 9. RESALE RESTRICTIONS/MARKET STAND-OFF. 
 Purchaser hereby agrees that in connection with any underwritten public
offering by the Company of its equity securities pursuant to an effective registration statement filed under the Securities Act, including the Company’s initial public offering, Purchaser shall not, directly or indirectly, engage in any
transaction prohibited by the underwriter, or sell, make any short sale of, contract to sell, transfer the economic risk of ownership in, loan, hypothecate, pledge, grant any option for the purchase of, or otherwise dispose or transfer for value or
agree to engage in any of the foregoing transactions with respect to any Common Stock without the prior written consent of the Company or its underwriters, for such period of time after the effective date of such registration statement as may be
requested by the Company or such underwriters. Such period of time shall not exceed one hundred eighty (180) days and may be required by the underwriter as a market condition of the offering; provided, however, that if either (a) during
the last seventeen (17) days of such one hundred eighty (180) day period, the Company issues an earnings release or material news or a material event relating to the Company occurs or (b) prior to the expiration of such one hundred
eighty (180) day period, the Company announces that it will release earnings results during the sixteen (16) day period beginning on the last day of the one hundred eighty (180) day period, then the restrictions imposed during such
one hundred eighty (180) day period shall continue to apply until the expiration of the eighteen (18) day period beginning on the issuance of the earnings release or the occurrence of the material news or material event; provided, further,
that in the event the Company or the underwriter requests that the one hundred eighty (180) day period be extended or modified pursuant to then-applicable law, rules, regulations or trading policies, the restrictions imposed during the one
hundred eighty 

  

 ALSIUS CORPORATION 
 EXHIBIT A TO STOCK OPTION AGREEMENT 
 NOTICE OF EXERCISE AND COMMON STOCK PURCHASE AGREEMENT

 A-6 

 
(180) day period shall continue to apply to the extent requested by the Company or the underwriter to comply with such law, rules, regulations or trading
policies. Purchaser hereby agrees to execute and deliver such other agreements as may be reasonably requested by the Company or the underwriter which are consistent with the foregoing or which are necessary to give further effect thereto. To enforce
the provisions of this Section, the Company may impose stop-transfer instructions with respect to the Common Stock until the end of the applicable stand-off period. 
 SECTION 10. OTHER NECESSARY ACTIONS. 
 The parties agree to execute such further instruments and to
take such further action as may reasonably be necessary to carry out the intent of this Agreement. 
 SECTION 11. NOTICE. 
 Any notice required or permitted under this Agreement shall be given in writing and shall be deemed effectively given upon the earliest of personal
delivery, receipt or the third full day following deposit in the United States Post Office with postage and fees prepaid, addressed to the other party hereto at the address last known or at such other address as such party may designate by ten
(10) days’ advance written notice to the other party hereto. 
 SECTION 12. SUCCESSORS AND ASSIGNS. 
 This Agreement shall inure to the benefit of the successors and assigns of the Company and, subject to the restrictions on transfer herein set forth, be
binding upon Purchaser and Purchaser’s heirs, executors, administrators, successors and assigns. The failure of the Company in any instance to exercise the Right of First Refusal described herein shall not constitute a waiver of any other Right
of First Refusal that may subsequently arise under the provisions of this Agreement. No waiver of any breach or condition of this Agreement shall be deemed to be a waiver of any other or subsequent breach or condition, whether of a like or different
nature. 
 SECTION 13. APPLICABLE LAW. 
 This Agreement shall be governed by, and construed in accordance with, the laws of the State of California, as such laws are applied to contracts entered into and performed in such state. 
 SECTION 14. NO STATE QUALIFICATION. 
 THE SALE OF THE
SECURITIES WHICH ARE THE SUBJECT OF THIS AGREEMENT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA, AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION THEREFOR PRIOR
TO SUCH QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM QUALIFICATION BY SECTION 25100, 25102 OR 25105 OF THE CALIFORNIA CORPORATIONS CODE. THE 

  

 ALSIUS CORPORATION 
 EXHIBIT A TO STOCK OPTION AGREEMENT 
 NOTICE OF EXERCISE AND COMMON STOCK PURCHASE AGREEMENT

 A-7 

 
RIGHTS OF ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON SUCH QUALIFICATION BEING OBTAINED, UNLESS THE SALE IS SO EXEMPT. 
 SECTION 15. NO ORAL MODIFICATION. 
 No modification of
this Agreement shall be valid unless made in writing and signed by the parties hereto. 
 SECTION 16. ENTIRE AGREEMENT. 
 This Agreement, the Option Agreement and the Plan constitute the entire complete and final agreement between the parties hereto with regard to the subject
matter hereof. 
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written. 
  

									
	 ALSIUS CORPORATION
	 		 	 [Name of Optionee] (PURCHASER)

				
	 By:
	 	  	 		 	  
	 Name:
	 	  	 		 	 Signature

	 Title:
	 	  	 		 		 	

  

 ALSIUS CORPORATION 
 EXHIBIT A TO STOCK OPTION AGREEMENT 
 NOTICE OF EXERCISE AND COMMON STOCK PURCHASE AGREEMENT

 A-8 

 EXHIBIT B 
 ACKNOWLEDGMENT OF AND AGREEMENT TO BE BOUND 
 BY THE NOTICE OF EXERCISE AND COMMON STOCK PURCHASE
AGREEMENT 
 OF 
 ALSIUS CORPORATION 
 The undersigned, as transferee of shares of Alsius Corporation hereby acknowledges that he or she has
read and reviewed the terms of the Notice of Exercise and Common Stock Purchase Agreement of Alsius Corporation and hereby agrees to be bound by the terms and conditions thereof, as if the undersigned had executed said Agreement as an original party
thereto. 
  

	
	 Dated:
                                        
            ,             .

	
	   
	 (Signature of Transferee)

	
	   
	 (Printed Name of Transferee)

  

 ALSIUS CORPORATION 
 EXHIBIT B TO STOCK OPTION AGREEMENT 
 ACKNOWLEDGEMENT OF AND AGREEMENT TO BE BOUND BY THE NOTICE

 OF EXERCISE AND COMMON STOCK PURCHASE AGREEMENT 
 B-1 

 EXHIBIT C 
 U.S. FEDERAL TAX INFORMATION 
 (Current as of March 2004) 
 The following memorandum briefly summarizes current U.S. federal income tax law. The discussion is intended to be used solely for general information
purposes and does not make specific representations to any participant. A taxpayer’s particular situation may be such that some variation of the basic rules is applicable to him or her. In addition, the U.S. federal income tax laws and
regulations are revised frequently and may change again in the future. Each participant is urged to consult a tax advisor, both with respect to U.S. federal income tax consequences as well as any foreign, state or local tax consequences, before
exercising any option or before disposing of any shares of stock acquired under the Plan. 
 INITIAL GRANT OF OPTIONS 
 The grant of an option, whether a nonqualified or nonstatutory stock option (“NSO”) or an incentive stock option (“ISO”), is not a
taxable event for the optionee, and the Company obtains no deduction for the grant of the option. 
 NONQUALIFIED OR NONSTATUTORY STOCK OPTIONS

 The exercise of an NSO is a taxable event to the optionee. The amount by which the fair market value of the shares on the date of
exercise exceeds the exercise price (the “spread”) will be taxed to the optionee as ordinary income. The spread will also be considered “wages” for purposes of FICA taxes. The Company will be entitled to a deduction in the same
amount as the ordinary income recognized by the optionee from the exercise of the option that is reported to the IRS by the optionee or the Company. In general, the optionee’s tax basis in the shares acquired by exercising an NSO is equal to
the fair market value of such shares on the date of exercise. Upon a subsequent sale of any such shares in a taxable transaction, the optionee will realize capital gain or loss (long-term or short-term, depending on whether the shares were held for
the required holding period before the sale) in an amount equal to the difference between his or her basis in the shares and the sale price. 
 The capital gains holding periods are complex. If shares are held for more than one year, the maximum tax rate on the gain has been reduced from twenty percent (20%) to fifteen percent (15%) for gain recognized on or after
May 6, 2003, and before January 1, 2009. Because the rules are complex and can vary in individual circumstances, each participant should consider consulting his or her own tax advisor. 
 If an optionee exercises an NSO and pays the exercise price with previously acquired shares of stock, special rules apply. The transaction is treated as
a tax-free exchange of the old shares for the same number of new shares, except as described below with respect to shares acquired pursuant to ISOs. The optionee’s basis in the new shares is the same as his or her basis in the old shares, and
the capital gains holding period runs without interruption from the date 

  

 ALSIUS CORPORATION 
 EXHIBIT C TO STOCK OPTION AGREEMENT 
 U.S. FEDERAL TAX INFORMATION 
 C-1 

 
when the old shares were acquired. The value of any new shares received by the optionee in excess of the number of old shares surrendered minus any cash the
optionee pays for the new shares will be taxed as ordinary income. The optionee’s basis in the additional shares is equal to the fair market value of such shares on the date the shares were transferred, and the capital gain holding period
commences on the same date. The effect of these rules is to defer recognition of any gain in the old shares when those shares are used to buy new shares. Stated differently, these rules allow an optionee to finance the exercise of an NSO by using
shares of stock that he or she already owns, without paying current tax on any unrealized appreciation in those old shares. 
 INCENTIVE STOCK OPTIONS

 The holder of an ISO will not be subject to U.S. federal income tax upon the exercise of the ISO, and the Company will not be entitled
to a tax deduction by reason of such exercise, provided that the holder is employed by the Company on the exercise date (or the holder’s employment terminated within the three (3) months preceding the exercise date). Exceptions to this
exercise timing requirement apply in the event the optionee dies or becomes disabled. A subsequent sale of the shares received upon the exercise of an ISO will result in the realization of long-term capital gain or loss in the amount of the
difference between the amount realized on the sale and the exercise price for such shares, provided that the sale occurs more than one (1) year after the exercise of the ISO and more than two (2) years after the grant of the ISO. In
general, if a sale or disposition of the shares occurs prior to satisfaction of the foregoing holding periods (referred to as a “disqualifying disposition”), the optionee will recognize ordinary income and the Company will be entitled to a
corresponding deduction, generally equal to the amount of ordinary income recognized by the optionee from the disqualifying disposition that is reported to the IRS by the optionee or the Company. 
 Favorable tax treatment is accorded to an optionee only to the extent that the value of the shares (determined at the time of grant) covered by an ISO
first exercisable in any single calendar year does not exceed one hundred thousand dollars ($100,000). If ISOs for shares whose aggregate value exceeds one hundred thousand dollars ($100,000) become exercisable in the same calendar year, the excess
will be treated as NSOs. 
 A special rule applies if an optionee pays all or part of the exercise price of an ISO by surrendering shares of
stock that he or she previously acquired by exercising any other ISO. If the optionee has not held the old shares for the full duration of the applicable holding periods, then the surrender of such shares to fund the exercise of the new ISO will be
treated as a disqualifying disposition of the old shares. As described above, the result of a disqualifying disposition is the loss of favorable tax treatment with respect to the acquisition of the old shares pursuant to the previously exercised
ISO. 
 Where the applicable holding period requirements have been met, the use of previously acquired shares of stock to pay all or a
portion of the exercise price of an ISO may offer significant tax advantages. In particular, a deferral of the recognition of any appreciation in the surrendered shares is available in the same manner as discussed above with respect to NSOs.

  

 ALSIUS CORPORATION 
 EXHIBIT C TO STOCK OPTION AGREEMENT 
 U.S. FEDERAL TAX INFORMATION 
 C-2 

 ALTERNATIVE MINIMUM TAX 
 Alternative minimum tax is paid when such tax exceeds a taxpayer’s regular U.S. federal income tax. Alternative minimum tax is calculated based on alternative minimum taxable income, which is taxable income for
U.S. federal income tax purposes, modified by certain adjustments and increased by tax preference items. 
 The “spread” under an
ISO—that is, the difference between (a) the fair market value of the shares of stock at exercise and (b) the exercise price—is classified as alternative minimum taxable income for the year of exercise. Alternative minimum taxable
income may be subject to the alternative minimum tax. However, a disqualifying disposition of the shares of stock subject to the ISO during the same year in which the ISO was exercised will generally negate the alternative minimum taxable income
generated upon exercise of the ISO. 
 In general, when a taxpayer sells stock acquired through the exercise of an ISO, only the difference
between the fair market value of the shares on the date of exercise and the date of sale is used in computing any alternative minimum tax for the year of the sale. The portion of a taxpayer’s alternative minimum tax attributable to certain
items of tax preference (including the spread upon the exercise of an ISO) can be credited against the taxpayer’s regular liability in later years to the extent that liability exceeds the alternative minimum tax. 
 WITHHOLDING TAXES 
 Exercise of an NSO produces
taxable income which is subject to withholding. The Company will not deliver shares to the optionee unless the optionee has agreed to satisfactory arrangements for meeting all applicable U.S. federal, state and local withholding tax requirements.

 U.S. federal tax law currently does not require unrecognized gain on exercise of an ISO to be treated as “wages” for the
purposes of FICA taxes; however, this issue may be revisited in the future. If in the future U.S. federal tax laws require that the unrecognized gain on an ISO be treated as “wages,” then you will not be able to exercise your option unless
you make acceptable arrangements with the Company to satisfy the withholding requirement. 
 THIS TAX SUMMARY IS GENERAL IN NATURE AND SHOULD
NOT BE RELIED UPON BY ANY PERSON IN DECIDING WHETHER OR WHEN TO EXERCISE AN OPTION. EACH PERSON SHOULD CONSULT HIS OR HER OWN TAX ADVISOR REGARDING THESE MATTERS. 
  

 ALSIUS CORPORATION 
 EXHIBIT C TO STOCK OPTION AGREEMENT 
 U.S. FEDERAL TAX INFORMATION 
 C-3

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