Document:

Exhibit 10.12

 Exhibit 10.12 
 LIPOMED, INC. 
 STOCK OPTION PLAN 

 

	1.	Purpose. The LipoMed, Inc. Stock Option Plan (the “Plan”) is established to create an additional incentive for key employees, directors and consultants
or advisors of LipoMed, Inc. and any successor corporations thereto (collectively referred to as the “Company”), and any present or future parent and/or subsidiary corporations of such corporation (all of whom along with the Company being
individually referred to as a “Participating Company” and collectively referred to as the “Participating Company Group”), to promote the financial success and progress of the Participation Company Group. For purposes of the Plan,
a parent corporation and a subsidiary corporation shall be as defined in Sections 424(e) and 424(f) of the Internal Revenue Code of 1986, as amended (the “Code”). 

 

	2.	Administration. The Plan shall be administered by the Board of Directors of the Company (the “Board”) and/or by a duly appointed committee of the Board
having such powers as shall be specified by the Board. Any subsequent references herein to the Board shall also mean the committee if such committee has been appointed and, unless the powers of the committee have been specifically limited, the
committee shall have all of the powers of the Board granted herein, other than power to terminate or amend the Plan as provided in section 12 hereof, subject to the terms of the Plan and any applicable limitations imposed by law. All questions of
interpretation of the Plan or of any option granted under the Plan (an “Option”) shall be determined by the Board, and such determinations shall be final and binding upon all persons having an interest in the Plan and/or any Option.
Options may be either incentive stock options as defined in Section 422 of the Code (“Incentive Stock Options”) or nonqualified stock options. Any officer of a Participating Company shall have the authority to act on behalf of the
Company with respect to any matter, right, obligation, or election which is the responsibility of or which is allocated to the Company herein, provided the officer has apparent authority with respect to such matter, right, obligation, or election.

  

	3.	Eligibility. The Options may be granted only to employees (including officers) and directors of the Participating Company Group or to individuals who are
rendering services as consultants, advisors or other independent contractors to the Participating Company Group. The Board, in its sole discretion, shall determine which persons shall be granted Options (an “Optionee”). A director of the
Company shall be eligible to be granted only a nonqualified stock option unless the director is also an employee of the Company. An individual who is rendering services as a consultant, advisor, or other independent contractor shall be eligible to
be granted only a nonqualified stock option. An Optionee may, if otherwise eligible, be granted additional Options. 

  

	4.	 Shares Subject to Option. Options shall be options for the purchase of the authorized but unissued common stock of the Company (the
“Stock”), subject to adjustment as provided in paragraph 10 below. The maximum number of shares of Stock which may be issued under the Plan shall be two hundred fifty thousand (250,000) shares. In the event that

	 	 
any outstanding Option for any reason expires or is terminated or cancelled and/or shares of Stock subject to repurchase are repurchased by the Company, the shares allocable to the unexercised
portion of such Option, or such repurchased shares, may again be subject to an Option grant. It is intended that the Plan shall constitute a written compensatory benefit plan within the meaning of Rule 701 promulgated under the Securities Act of
1933, as amended (“Rule 701”), and that the Plan shall otherwise be administered in compliance with the requirements of Rule 701. To ensure such compliance, the Board shall maintain a record of shares subject to outstanding Options under
the Plan and the exercise price of such Options, plus a record of all shares of Common Stock issued upon the exercise of such Options and the exercise price of such Options. 

 

	5.	Time for Granting Options. All Options shall be granted, if at all, within ten (10) years from the earlier of the date the Plan is adopted by the Board or
the date the Plan is duly approved by the shareholders of the Company. 

  

	6.	Terms, Conditions and Form of Options. Subject to the provisions of the Plan, the Board shall determine for each Option (which need not be identical) the number
of shares of Stock for which the Option is granted, whether the Option is to be treated as an Incentive Stock Option or as a nonqualified stock option and all other terms and conditions of the Option not inconsistent with the Plan. Options granted
pursuant to the Plan shall comply with and be subject to the following terms and conditions: 

  

	 	(a)	Option Price. The option price for each Option shall be established in the sole discretion of the Board; provided, however, that (i) the option price per
share for an Incentive Stock Option shall be not less than the fair market value of a share of Stock on the date of the granting of the Incentive Stock Option and (ii) the option price per share of an Incentive Stock Option granted to an
Optionee who at the time the Incentive Stock Option is granted owns stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of a Participating Company within the meaning of section 422(b)(6) of
the Code (a “Ten Percent Owner Optionee”) shall be not less than one hundred ten percent (110%) of the fair market value of a share of Stock on the date the Option is granted. For this purpose, “fair market value” means the
value assigned to the stock for a given day by the Board, as determined pursuant to a reasonable method established by the Board that is consistent with the requirements of sections 422 and 424 of the Code and the regulations thereunder (which
method may be changed from time to time). Notwithstanding the foregoing, an Option (whether an Incentive Stock Option or a nonqualified stock option) may be granted by the Board in its discretion with an exercise price lower than the minimum
exercise price set forth above if such Option is granted pursuant to an assumption or substitution for another option in a manner qualifying with the provisions of section 424(a) of the Code. Nothing hereinabove shall require that any such
assumption or modification will result in the Option having the same characteristics, attributes or tax treatment as the Option for which it is substituted. 

	 	(b)	Exercise Period of Options. The Board shall have the power to set the time or times within which each Option shall be exercisable or the event or events upon the
occurrence of which all or a portion of each Option shall be exercisable and the term of each Option; provided, however, that (i) no Incentive Stock Option shall be exercisable after the expiration of ten (10) years after the date such
Incentive Stock Option is granted, (ii) no Incentive Stock Option granted to a Ten Percent Owner Optionee shall be exercisable after the expiration of five (5) years after the date such Incentive Stock Option is granted and (iii) no
Incentive Stock Option shall be exercisable after the date the Optionee’s employment with the Participating Company Group is terminated for cause (as determined in the sole discretion of the Board); and provided, further, an Option shall
terminate and cease to be exercisable no later than three (3) months after the date on which the Optionee terminates employment with the Participating Company Group, unless the Optionee’s employment with the Participating Company Group
shall have terminated as a result of the Optionee’s death or disability (within the meaning of Section 22(e)(3) of the Code), in which event the Option shall terminate and cease to be exercisable no later than twelve (12) months from
the date on which the Optionee’s employment terminated. For this purpose, an Optionee’s employment shall be deemed to have terminated on account of death if the Optionee dies within three (3) months following the Optionee’s
termination of employment. 

  

	 	(c)	Payment of Option Price. Payment of the option price for the number of shares of Stock being purchased pursuant to any Option shall be made in cash, by check or
cash equivalent. 

  

	 	(d)	$100,000 Limitation. The aggregate fair market value, determined as of the date on which an Incentive Stock Option is granted, of the shares of Stock with
respect to which incentive stock options (determined without regard to this subsection) are first exercisable during any calendar year (under this Plan or under any other plan of the Participating Company Group) by any Optionee shall not exceed
$100,000. If such limitation would be exceeded with respect to an Optionee for a calendar year, the Incentive Stock Option shall be deemed a nonqualified stock option to the extent of such excess. 

 

	7.	Standard Form of Stock Option Agreement. All Options shall be evidenced by a written award agreement in the form of the nonqualified stock option agreement
attached hereto as Exhibit A or the incentive stock option award agreement attached hereto as Exhibit B, as applicable, both of which are incorporated herein by reference (the “Standard Option Agreements”).

  

	8.	 Transfer of Control. Upon a merger, consolidation, corporate reorganization, or any transaction in which all or substantially all of the assets
of the Company are sold, leased, transferred or otherwise disposed of (other than a mere reincorporation transaction or one in which the holders of capital stock of the Company immediately prior to such merger or consolidations continue to hold at
least a majority of the voting power of the surviving corporation) (a “Transfer of Control”), then any unexercisable portion of an outstanding 

	 	 
Option shall become immediately exercisable as of a date prior to the Transfer of Control, which date shall be determined by the Board. The exercise of any Option that was permissible solely by
reason of this paragraph 8 shall be conditioned upon the consummation of the Transfer of Control. The Board may further elect, in its sole discretion to provide that any Options which became exercisable solely by reason of this paragraph 8 and which
are not exercised as of the date of the Transfer of Control shall terminate effective as of the date of the Transfer of Control. 

  

	9.	Authority to Vary Terms. The Board shall have the authority from time to time to vary the terms of the Standard Option Agreements either in connection with the
grant of an individual Option or in connection with the authorization of a new standard form or forms; provided, however, that the terms and conditions of such revised or amended standard form or forms of stock option agreement shall be in
accordance with the terms of the Plan. Such authority shall include, but not by way of limitation, the authority to grant Options which are not immediately exercisable. 

 

	10.	Effect of Change in Stock Subject to Plan. The Board shall make appropriate adjustments in the number and class of shares of Stock subject to the Plan and to any
outstanding Options and in the option price of any outstanding Options in the event of a stock dividend, stock split, reverse stock split, combination, reclassification or like change in the capital structure of the Company.

  

	11.	Options Non-Transferable. During the lifetime of the Optionee, the Option shall be exercisable only by the Optionee. No Option shall be assignable or
transferable by the Optionee, except by will or by the laws of descent and distribution. 

  

	12.	Termination or Amendment of Plan. The Board may terminate or amend the Plan at any time; provided however, that without the approval of the Company’s
shareholders, there shall be (a) no increase in the total number of shares of Stock covered by the Plan (except by operation of the provisions of paragraph 10 above), (b) no change in the class of persons eligible to receive Incentive
Stock Options, and (c) no extension of the period during which Incentive Stock Options may be granted beyond the date which is ten (10) years following the date the Plan is adopted by the Company or the date the Plan is approved by the
shareholders of the Company. In any event, no amendment may adversely affect any then outstanding Option or any unexercised portion thereof, without the consent of the Optionee, unless such amendment is required to enable an Option designated as an
Incentive Stock Option to qualify as an Incentive Stock Option. 

  

	13.	Miscellaneous 

 (a)
Nothing in this Plan or any Option granted hereunder shall confer upon any Optionee any right to continue in the employ of the Participating Company Group, or to serve as a director thereof, or interfere in any way with the right of a Participating
Company to terminate his or her employment at any time. Unless specifically provided otherwise, no grant of an Option shall be deemed salary or compensation for the purpose of computing benefits under any employee benefit

 
plan or other arrangement of a Participating Company for the benefit of its employees unless the Participating Company shall determine otherwise. No Optionee shall have any claim to an Option
until it is actually granted under the Plan. To the extent that any person acquires a right to receive payments from the Company under the Plan, such right shall, except as otherwise provided by the Board, be no greater than the right of an
unsecured general creditor of the Company. All payments to be made hereunder shall be paid from the general funds of the Company, and no special or separate fund shall be established and no segregation of assets shall be made to assure payment of
such amounts, except as otherwise provided by the Committee. 
 (b) The Plan and the grant of Options hereunder shall be subject
to all applicable federal and state laws, rules, and regulations and to such approvals by any United States government or regulatory agency as may be required. 
 (c) The terms of the Plan shall be binding upon the Company, and its successors and assigns. 
 (d) This Plan and all actions taken hereunder shall be governed by the laws of the State of North Carolina. 
 (e) With respect to any payments not yet made to a Optionee by the Company, nothing contained herein shall give any such Optionee any rights that are greater than those of a general creditor of the
Company. 
 (f) If any provision of this Plan or a Standard Option Agreement is or becomes or is deemed invalid, illegal or
unenforceable in any jurisdiction, or would disqualify the Plan or any Standard Option Agreement under any law deemed applicable by the Board, such provision shall be construed or deemed amended to conform to applicable laws or if it cannot be
construed or deemed amended without, in the determination of the Board, materially altering the intent of the Plan or the Standard Option Agreement, it shall be stricken and the remainder of the Plan or the Standard Option Agreement shall remain in
full force and effect. 
 IN WITNESS WHEREOF, the undersigned Secretary of the Company certifies that the
foregoing Plan was duly adopted by the Board of Directors of the Company on the 12th day of September, 1997. 
  

			
	LIPOMED, INC.
		
	By:	 	 /s/ James D. Otvos

		 	James D. Otvos, Secretary

 FIRST AMENDMENT 

OF LIPOMED, INC. 
 STOCK OPTION PLAN 
 THIS FIRST AMENDMENT of LipoMed, Inc. Stock Option Plan
is dated as of May 27, 1998. 
 WHEREAS, the Board of Directors of LipoMed, Inc. (the “Company”) has adopted and
the shareholders of the Company have approved the LipoMed, Inc. Stock Option Plan (the “Plan”); and 
 WHEREAS, the
Board of Directors deems it to be in the best interest of the Company to amend the Plan in order to increase the maximum number of shares issuable pursuant to options granted under the Plan from 250,000 to 450,000. 

NOW, THEREFORE, the Plan shall be amended as follows: 
 6. The second sentence of Paragraph 4 of the Plan shall be deleted in its entirety and the following substituted in lieu thereof: 
 “The maximum number of shares of Stock which may be issued under the Plan shall be Four Hundred Fifty Thousand (450,000) shares.” 

2. Except as herein amended, the terms and provisions of the Plan shall remain in full force and effect as originally adopted and
approved. 
 IN WITNESS WHEREOF, the undersigned hereby certifies that this First Amendment was duly adopted
by the Board of Directors of the Company on the 27th day
of May, 1998 and by the shareholders of the Company on the 27th day of May, 1998. 
  

									
		 		 		 	LIPOMED, INC.
	[CORPORATE SEAL]	 		 		 	
					
		 		 		 	By:	 	 /s/ Richard A. Franco

	ATTEST:	 		 		 	Richard A. Franco
		 		 		 		 	President
					
	By:	 	 /s/ James D. Otvos
	 		 		 	
		 	James D. Otvos	 		 		 	
		 	Secretary	 		 		 	

 SECOND AMENDMENT 

OF LIPOMED, INC. 
 STOCK OPTION PLAN 
 THIS SECOND AMENDMENT of LipoMed, Inc. Stock Option
Plan is dated as of June 15, 1999. 
 WHEREAS, the Board of Directors of LipoMed, Inc. (the “Company”) has
adopted and the shareholders of the Company have approved the LipoMed, Inc. Stock Option Plan, as amended (the “Plan”); and 
 WHEREAS, the Board of Directors deems it to be in the best interest of the Company to amend the Plan in order to increase the maximum number of shares issuable pursuant to options granted under the Plan
from 450,000 to 550,000. 
 NOW, THEREFORE, the Plan shall be amended as follows: 

5. The second sentence of Paragraph 4 of the Plan shall be deleted in its entirety and the following substituted in lieu thereof:

 “The maximum number of shares of Stock which may be issued under the Plan shall be Five Hundred Fifty Thousand
(550,000) shares.” 
 2. Except as herein amended, the terms and provisions of the Plan shall remain in full force and
effect as originally adopted and approved. 
 IN WITNESS WHEREOF, the undersigned hereby certifies that this
Second Amendment was duly adopted by the Board of Directors of the Company on the 15th day of June, 1999 and by the shareholders of the Company on the
15th day of June, 1999. 

 

									
		 		 		 	LIPOMED, INC.
	[CORPORATE SEAL]	 		 		 	
					
		 		 		 	By:	 	 /s/ Richard A. Franco

	ATTEST:	 		 		 	Richard A. Franco
		 		 		 		 	President
					
	By:	 	 /s/ James D. Otvos
	 		 		 	
		 	James D. Otvos	 		 		 	
		 	Secretary	 		 		 	

 THIRD AMENDMENT 

OF LIPOMED, INC. 
 STOCK OPTION PLAN 
 THIS THIRD AMENDMENT of LipoMed, Inc. Stock Option Plan
is effective as of June 15, 2000. 
 WHEREAS, the Board of Directors of LipoMed, Inc. (the “Company”) has adopted
and the stockholders of the Company have approved the LipoMed, Inc. Stock Option Plan, as amended (the “Plan”); and 

WHEREAS, the Board of Directors deems it to be in the best interest of the Company to further amend the Plan in order to increase the
maximum number of shares issuable pursuant to options granted under the Plan from 1,100,000 (as adjusted to reflect the Company’s 1-for-1 stock dividend effective September 28, 1999) to 2,300,000. 

NOW, THEREFORE, the Plan shall be amended as follows: 
 4. The second sentence of Paragraph 4 of the Plan shall be deleted in its entirety and the following substituted in lieu thereof: 
 “The maximum number of shares of Stock which may be issued under the Plan shall be Two Million Three Hundred Thousand (2,300,000) shares.” 

2. Except as herein amended, the terms and provisions of the Plan shall remain in full force and effect as originally adopted and
approved. 
 IN WITNESS WHEREOF, the undersigned hereby certifies that this Third Amendment was duly adopted by the Board of
Directors and the Stockholders of the Company and shall be effective as of June 15, 2000. 
  

									
		 		 		 	LIPOMED, INC.
	[CORPORATE SEAL]	 		 		 	
					
		 		 		 	By:	 	 /s/ Richard A. Franco

	ATTEST:	 		 		 	Richard A. Franco
		 		 		 		 	President
					
	By:	 	 /s/ James D. Otvos
	 		 		 	
		 	James D. Otvos	 		 		 	
		 	Secretary	 		 		 	

 FOURTH AMENDMENT 

OF LIPOMED, INC. 
 STOCK OPTION PLAN 
 THIS FOURTH AMENDMENT of LipoMed, Inc. Stock Option
Plan is effective as of July 25, 2001. 
 WHEREAS, the Board of Directors of LipoMed, Inc. (the “Company”) has
adopted and the stockholders of the Company have approved the LipoMed, Inc. Stock Option Plan, as amended (the “Plan”); and 
 WHEREAS, the Board of Directors deems it to be in the best interest of the Company to further amend the Plan in order to increase the maximum number of shares issuable pursuant to options granted under
the Plan from 2,300,000 to 3,650,000. 
 NOW, THEREFORE, the Plan shall be amended as follows: 

3. The second sentence of Paragraph 4 of the Plan shall be deleted in its entirety and the following substituted in lieu thereof:

 “The maximum number of shares of Stock which may be issued under the Plan shall be Three Million Six Hundred Fifty
Thousand (3,650,000) shares.” 
 2. Except as herein amended, the terms and provisions of the Plan shall remain in
full force and effect as originally adopted and approved. 
 IN WITNESS WHEREOF, the undersigned hereby certifies that this
Fourth Amendment was duly adopted by the Board of Directors and the Stockholders of the Company and shall be effective as of July 25, 2001. 
  

									
		 		 		 	LIPOMED, INC.
	[CORPORATE SEAL]	 		 		 	
					
		 		 		 	By:	 	 /s/ Richard A. Franco

	ATTEST:	 		 		 	Richard A. Franco
		 		 		 		 	President
					
	By:	 	 /s/ James D. Otvos
	 		 		 	
		 	James D. Otvos	 		 		 	
		 	Secretary	 		 		 	

 FIFTH AMENDMENT 

OF LIPOSCIENCE, INC. 
 STOCK OPTION PLAN 
 THIS FIFTH AMENDMENT of LipoScience, Inc. Stock Option
Plan is effective as of September 27, 2001. 
 WHEREAS, the Board of Directors of LipoScience, Inc. (the
“Company”) has adopted and the stockholders of the Company have approved the LipoScience, Inc. Stock Option Plan, as amended (the “Plan”); and 
 WHEREAS, in connection with the initial public offering of common stock contemplated by the Company (the “IPO”), the Board of Directors has adopted and approved a new plan, the LipoScience, Inc.
2001 Stock Incentive Plan (the “New Plan”), such New Plan to be effective as of the effective date of the registration statement on Form S-1 filed in connection with the IPO; and 

WHEREAS, the Board of Directors Corporation deems it to be in the best interests of the Company to reduce the maximum number of shares of
common stock of the Company (“Common Stock”) issuable under the Plan to the number of shares issuable under the Plan as of the consummation of the IPO and to cease the granting of any additional options under the Plan, effective as of the
consummation of the IPO and the effectiveness of the New Plan. 
 1. NOW, THEREFORE, the Plan is hereby amended so as to
decrease the maximum number of shares of Common Stock issuable under the Plan to the number of shares (as appropriately adjusted to reflect stock splits and similar events) that shall be issuable pursuant to options outstanding under the Plan
immediately prior to the closing of the IPO, with such number to be further reduced by the number of shares subject to awards under the Plan which may expire, terminate or be otherwise surrendered. 

2. Except as herein amended, the terms and provisions of the Plan shall remain in full force and effect as originally adopted and
approved. 
 IN WITNESS WHEREOF, the undersigned hereby certifies that this Fifth Amendment was duly adopted by the Board of Directors on
September 27, 2001. 
  

									
		 		 		 	LIPOSCIENCE, INC.
	[CORPORATE SEAL]	 		 		 	
					
		 		 		 	By:	 	 /s/ F. Ronald Stanton

	ATTEST:	 		 		 	F. Ronald Stanton
		 		 		 		 	President
					
	By:	 	 /s/ James D. Otvos
	 		 		 	
		 	James D. Otvos, Secretary	 		 		 	

 SIXTH AMENDMENT 

OF LIPOSCIENCE, INC. 
 STOCK OPTION PLAN 
 THIS SIXTH AMENDMENT of LipoScience, Inc. Stock Option
Plan (“Sixth Amendment”) is effective April 25, 2002. 
 WHEREAS, the Board of Directors of LipoScience, Inc., a
Delaware corporation (the “Company”) has adopted and the stockholders of the Company have approved the LipoScience, Inc. Stock Option Plan, as amended (the “Plan”); and 

WHEREAS, pursuant to Section 12 of the Plan, the Board of Directors deems it to be in the best interest of the Company to amend the
Plan to permit the transfer of nonqualified stock options to certain permitted transferees as approved by the Board, the Compensation Committee of the Board or other duly appointed committee of the Board. 

NOW, THEREFORE, the Plan shall be amended as follows: 
 2. Paragraph 11 shall be deleted in its entirety and the following substituted in lieu thereof: 
 11. Transferability of Options. Except as otherwise provided in this paragraph 11, no Option shall be transferable or assignable except by will or by the laws of descent and distribution and the
Option shall be exercisable, during the Optionee’s lifetime, only by the Optionee. Subject to the approval of the Board or a duly appointed committee of the Board (the “Committee”), an Optionee may transfer nonqualified stock options
granted hereunder for no consideration to or for the benefit of a Permitted Transferee, subject to such limits as the Board or the Committee may establish. For the purposes of this paragraph 11, “Permitted Transferee” shall mean any child,
stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law, including adoptive relationships, any person sharing
the Optionee’s household (other than a tenant or employee), a trust in which any of the foregoing persons have more than fifty percent of the beneficial interest, a foundation in which any of the foregoing persons or the Optionee control the
management of the assets, and any other entity in which any of the foregoing persons or the Optionee own more than fifty percent of the voting interests. 
 2. Except as herein amended, the terms and provisions of the Plan shall remain in full force and effect as originally adopted and approved. 

IN WITNESS WHEREOF, the undersigned hereby certifies that this Sixth Amendment was duly adopted by the Board of
Directors, this the 25th day of April, 2002. 

									
		 		 		 	LIPOSCIENCE, INC.
	[CORPORATE SEAL]	 		 		 	
					
		 		 		 	By:	 	 /s/ F. Ronald Stanton

	ATTEST:	 		 		 	F. Ronald Stanton, President
					
	By:	 	 /s/ Holly A. Coldiron
	 		 		 	
		 	Holly A. Coldiron, Assistant Secretary	 		 		 	

 SEVENTH AMENDMENT 

OF 

LIPOSCIENCE, INC. STOCK OPTION PLAN 
 THIS SEVENTH AMENDMENT (“Seventh Amendment”) of the LipoScience, Inc. Stock Option Plan (the “Plan”) is effective as of July 15, 2003. 

WHEREAS, the Board of Directors of LipoScience, Inc., a Delaware corporation (the “Company”), has adopted and the stockholders
of the Company have approved the Plan; and 
 WHEREAS, pursuant to Section 12 of the Plan, the Board of Directors has the
authority and deems it to be in the best interest of the Company to: (i) increase the maximum number of shares issuable pursuant to options granted under the Plan from 4,380,000 (as adjusted to reflect the 1.5-for-1 stock split effected by the
Company on August 22, 2001 and the 4-for-5 reverse stock split effected by the Company on September 18, 2002) to 4,580,000; and (ii) to modify the Transfer of Control provisions set forth in Paragraph 8 of the Plan. 

NOW, THEREFORE, the Plan shall be amended as follows: 
 1. The second sentence of Paragraph 4 of the Plan shall be deleted in its entirety and the following substituted in lieu thereof: 
 “The maximum number of shares of Stock which may be issued under the Plan shall be Four Million Five Hundred Eighty Thousand (4,580,000) shares.” 

2. Paragraph 8 (Transfer of Control) shall be deleted in its entirety and the following substituted in lieu thereof: 

“8. Transfer of Control. Upon a merger, consolidation, corporate reorganization, or any transaction in which all or
substantially all of the assets or stock of the Company are sold, leased, transferred or otherwise disposed of (other than a mere reincorporation transaction or one in which the holders of the capital stock of the Company immediately prior to such
merger, consolidation, reorganization or sale of all or substantially all of the assets or stock of the Company continue to hold at least a majority of the voting power of the surviving/resulting corporation/entity) (a “Transfer of
Control”), then, except as may be otherwise provided in an individual stock option award agreement, 
 (i)
each outstanding Option shall be assumed by the surviving, acquiring or successor corporation (or parent thereof) (collectively, the “Acquiring Corporation”), replaced with a comparable option to purchase shares of the capital stock of the
Acquiring Corporation, or replaced with a cash incentive program of the Acquiring Corporation which preserves the spread existing on each unvested Option at the time of such Transfer of Control and provides for subsequent payout in accordance with
the same vesting schedule applicable to such Option (a “Cash Incentive Program”); 

 
provided, however, that if, on or prior to the twelve (12) month anniversary of the date of the consummation of the Transfer of Control, the employment of an Optionee who was employed by the
Company as of the effective time of the Transfer of Control is terminated for Good Reason by the Optionee or is terminated without Cause by the Company or the Acquiring Corporation, then any unexercisable portion of each of such Optionee’s
assumed or substituted options shall immediately become exercisable as of a date prior to such termination. 

(ii) Notwithstanding the provisions of subparagraph 8 (i), if the Acquiring Corporation does not agree to assume, or
replace with a comparable option, or replace with a Cash Incentive Program, each outstanding Option upon the occurrence of a Transfer of Control, then the Board shall provide that, in lieu of the provisions described in subparagraph (i) above,
any unexercisable portion of an outstanding Option shall become immediately exercisable as of a date prior to the Transfer of Control, which date shall be determined by the Board, and, to the extent not exercised prior to the Transfer of Control,
each outstanding Option shall terminate and cease to be outstanding as of the effective time of the Transfer of Control. The exercise of any Option that was permissible solely by reason of this Paragraph 8 shall be conditioned upon the consummation
of the Transfer of Control. 
 For purposes of this Paragraph 8, “Good Reason” shall mean a material reduction in the
annual cash compensation payable to the Optionee after such Transfer of Control (other than in connection with a general reduction of annual cash compensation applicable to all Optionees in similar positions), or the relocation of the place of
business at which the Optionee is principally located to a location that is greater than fifty (50) miles from the current site. “Cause” shall mean any (i) failure by Optionee to consistently perform Optionee’s duties for
the Company; (ii) material act of malfeasance, fraud, dishonesty or breach of fiduciary duty by Optionee; (iii) conviction of Optionee for a felony or other crime of moral turpitude; or (iv) willful misconduct by the Optionee which
adversely affects the business or reputation of the Company. 
 3. Except as herein amended, the terms and provisions of the
Plan shall remain in full force and effect as originally adopted and approved. 

 IN WITNESS WHEREOF, the undersigned hereby certifies that this Seventh Amendment was
duly adopted by the Board of Directors, this the 15th day
of July, 2003. 
  

									
		 		 		 	LIPOSCIENCE, INC.
	[CORPORATE SEAL]	 		 		 	
					
		 		 		 	By:	 	 /s/ Richard O. Brajer

	ATTEST:	 		 		 	Richard O. Brajer
		 		 		 		 	President and Chief Executive Officer
					
	By:	 	 /s/ Timothy J. Williams
	 		 		 	
		 	Timothy J. Williams, Secretary	 		 		 	

 Pursuant to a Unanimous Written Consent of the Board of Directors dated as of June 26, 2007 and a
Written Consent of the Stockholders dated October 21, 2008, the maximum number of shares of Stock which could be issued under the 1997 Stock Option Plan was further increased to 5,580,000 shares.Exhibit 10.13

 Exhibit 10.13 
 THE SECURITY REPRESENTED BY THIS CERTIFICATE HAS BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISPOSITION MAY BE
EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 

 
  

LIPOSCIENCE, INC. 
 INCENTIVE STOCK OPTION AGREEMENT 
 LipoScience, Inc. (the
“Company”) granted to the individual named below an option to purchase certain shares of common stock of the Company pursuant to the LipoScience, Inc. Stock Option Plan, in the manner and subject to the provisions of this Option Agreement.

  

	1.	Definitions: 

  

	 	(a)	“Code” shall mean the Internal Revenue Code of 1986, as amended. (All citations to sections of the Code are to such sections as they may from time to time be
amended or renumbered.) 

  

	 	(b)	“Commencement Date” shall mean
                    . 

  

	 	(c)	“Company” shall mean LipoScience, Inc., a Delaware corporation, and any successor corporation thereto. 

 

	 	(d)	“Date of Option Grant” shall mean
                    . 

  

	 	(e)	“Disability” shall mean disability within the meaning of section 22(e)(3) of the Code, as determined by the Board in its discretion under procedures
established by the Board of Directors of the Company. 

  

	 	(f)	“Exercise Price” shall mean              ($    ) per share
as adjusted from time to time pursuant to paragraph 9 below. 

  

	 	(g)	“Number of Option Shares” shall mean
                    (            ) shares of common stock of the Company as
adjusted from time to time pursuant to paragraph 9 below. 

  

	 	(h)	“Option Term Date” shall mean the date ten (10) years after the Date of Option Grant. 

 

	 	(i)	“Optionee” shall mean             . 

	 	(j)	“Participating Company” shall mean (i) the Company and (ii) any present or future parent and/or subsidiary corporation of the Company while such
corporation is a parent or subsidiary of the Company. For purposes of this Option Agreement, a parent corporation and a subsidiary corporation shall be as defined in sections 424(e) and 424(f) of the Code. 

 

	 	(k)	“Participating Company Group” shall mean at any point in time all corporations collectively which are then a Participating Company. 

 

	 	(l)	“Plan” shall mean the LipoScience, Inc. Stock Option Plan, as amended. 

 

	2.	Status of the Option. This Option is intended to be an incentive stock option as described in section 422 of the Code, but the Company does not represent or
warrant that this Option qualifies as such. The Optionee should consult with the Optionee’s own tax advisors regarding the tax effects of this Option and the requirements necessary to obtain favorable income tax treatment under section 422 of
the Code, including, but not limited to, holding period requirements. 

  

	3.	Administration. All questions of interpretation concerning this Option Agreement shall be determined by the Board of Directors of the Company (the
“Board”) and/or by a duly appointed committee of the Board having such powers as shall be specified by the Board. Any subsequent references herein to the Board shall also mean the committee if such committee has been appointed and, unless
the powers of the committee have been specifically limited, the committee shall have all of the powers of the Board granted in the Plan, other than the power to terminate or amend the Plan as provided in paragraph 12 of the Plan, subject to the
terms of the Plan and any applicable limitations imposed by law. All determinations by the Board shall be final and binding upon all persons having an interest in the Option. Any officer of a Participating Company shall have the authority to act on
behalf of the Company with respect to any matter, right, obligation or election which is the responsibility of or which is allocated to the Company herein, provided the officer has apparent authority with respect to such matter, right, obligation or
election. 

  

	4.	Exercise and Vesting of the Option. 

  

	 	(a)	Right to Exercise. The Option shall vest and become exercisable from time to time, subject to the schedule set forth below, in whole or in part, subject to the
termination provisions of paragraphs 6 and 7 hereof and the Optionee’s agreement that any shares purchased upon exercise are subject to the Company’s repurchase rights set forth in paragraph 11 below: 

 

	 	(i)	[On and after the first anniversary of the Commencement Date, the Option may be exercised to purchase up to 25% of the Number of Option Shares, subject to
Optionee’s continuous service as an employee of the Company; and 

  

					
	H&M:127295.01	 	2	 	

	 	(ii)	On and after each additional full calendar month after the first anniversary of the Commencement Date, the Option may be exercised to purchase up to an additional
2.084% of the Number of Option Shares, subject to Optionee’s continuous service as an employee of the Company.] 

 The schedule set forth above is cumulative, so that shares as to which the Option has become exercisable on and after a date indicated by the schedule may be purchased pursuant to exercise of the Option
at any subsequent date prior to termination of the Option. The Option may be exercised at any time and from time to time to purchase up to the number of shares as to which it is then exercisable. 

Notwithstanding the foregoing, if the aggregate fair market value, determined as of the Date of Option Grant, of the stock with respect to
which the Optionee may exercise incentive stock options (determined without regard to this provision) for the first time during any calendar year (under this Plan or under any other plan of the Participating Company Group), as determined in
accordance with section 422(d) of the Code, shall exceed one hundred thousand dollars ($100,000), the Option shall be deemed a nonqualified stock option to the extent of such excess. 

 

	 	(b)	Method of Exercise. The Option shall be exercised by written notice to the Company in the form of Exhibit A hereto stating the election to exercise the
Option, the number of shares for which the Option is being exercised and such other representations and agreements as to the Optionee’s investment intent with respect to such shares as may be required by the Company. The written notice must be
signed by the Optionee and must be delivered in person or by certified or registered mail, return receipt requested, to the Chief Financial Officer of the Company, or other authorized representative of the Participating Company Group, prior to the
termination of the Option as set forth in paragraph 6 below, accompanied by (i) full payment of the exercise price for the number of shares being purchased and (ii) an executed copy, if required herein, of the then current form of joint
escrow instructions referenced below. 

  

	 	(c)	Form of Payment of Option Price. Such payment shall be made in cash, check or cash equivalent or in any other form as may be permitted by the Board in its
discretion. 

  

	 	(d)	Withholding. At the time the Option is exercised, in whole or in part, or at any time thereafter as requested by the Company, the Optionee hereby authorizes
payroll withholding and otherwise agrees to make adequate provision for foreign, federal and state tax withholding obligations of the Company, if any, which arise in connection with the Option, including, without limitation, obligations arising upon
(i) the exercise, in whole or in part, of the Option, (ii) the transfer, in whole or in part, of any shares acquired on exercise of the Option, (iii) the operation of any law or regulation providing for the imputation of interest, or
(iv) the lapsing of any restriction with respect to any shares acquired on exercise of the Option. 

  

					
	H&M:127295.01	 	3	 	

	 	(e)	Certificate Registration. The certificate or certificates for the shares as to which the Option shall be exercised shall be registered in the name of the
Optionee, or, if applicable, the heirs of the Optionee. 

  

	 	(f)	Restrictions on Grant of the Option and Issuance of Shares. The grant of the Option and the issuance of the shares upon exercise of the Option shall be subject
to compliance with all applicable requirements of federal or state law with respect to such securities. The Option may not be exercised if the issuance of shares upon such exercise would constitute a violation of any applicable federal or state
securities laws or other law or regulations. In addition, no Option may be exercised unless (i) a registration statement under the Securities Act of 1933, as amended (the “Securities Act”), shall at the time of exercise of the Option
be in effect with respect to the shares issuable upon exercise of the Option or (ii) in the opinion of legal counsel to the Company, the shares issuable upon exercise of the Option may be issued in accordance with the terms of an applicable
exemption from the registration requirements of the Securities Act. 

 THE OPTIONEE IS CAUTIONED THAT THE
OPTION MAY NOT BE EXERCISABLE UNLESS THE FOREGOING CONDITIONS ARE SATISFIED. ACCORDINGLY, THE OPTIONEE MAY NOT BE ABLE TO EXERCISE THE OPTION WHEN DESIRED EVEN THOUGH THE OPTION IS VESTED. 

As a condition to the exercise of the Option, the Company may require the Optionee to satisfy any qualifications that may be necessary or
appropriate, to evidence compliance with any applicable law or regulation and to make any representation or warranty with respect thereto as may be requested by the Company. 

 

	 	(g)	Fractional Shares. The Company shall not be required to issue fractional shares upon the exercise of the Option. 

 

	5.	Non-Transferability of the Option. The Option may be exercised during the lifetime of the Optionee only by the Optionee and may not be assigned or transferred in
any manner except by will or by the laws of descent and distribution. 

  

	6.	Termination of the Option. The Option shall terminate and may no longer be exercised on the first to occur of (a) the Option Term Date as defined above and
(b) the last date for exercising the Option following termination of employment as described in paragraph 7 below. 

  

					
	H&M:127295.01	 	4	 	

	7.	Termination of Employment. 

  

	 	(a)	Termination of the Option. If the Optionee ceases to be an employee of the Participating Company Group for any reason except death or Disability, the Option, to
the extent unexercised and exercisable by the Optionee on the date on which the Optionee ceased to be an employee, may be exercised by the Optionee within three (3) months after the date on which the Optionee’s employment terminates, but
in any event no later than the Option Term Date. If the Optionee’s employment with the Participating Company Group is terminated because of the death or Disability of the Optionee, the Option, to the extent unexercised and exercisable by the
Optionee on the date on which the Optionee ceased to be an employee, may be exercised by the Optionee (or the Optionee’s legal representative) at any time prior to the expiration of twelve (12) months from the date the Optionee’s
employment terminated, but in any event no later than the Option Term Date. The Optionee’s employment shall be deemed to have terminated on account of death if the Optionee dies within three (3) months after the Optionee’s termination
of employment. This paragraph shall be interpreted such that the Option ceases to vest on the date on which the Optionee ceases to be an employee of the Participating Company Group (pursuant to this paragraph 7) for any reason, notwithstanding any
period after such cessation of employment during which the Option may remain exercisable as provided in this paragraph 7. 

  

	 	(b)	Termination of Employment Defined. For purposes of this paragraph 7, the Optionee’s employment shall be deemed to have terminated either upon an actual
termination of employment or upon the Optionee’s employer ceasing to be a Participating Company. 

  

	 	(c)	Exercise Prevented by Law. Except as provided in this paragraph 7, the Option shall terminate and may not be exercised after the Optionee’s employment with
the Participating Company Group terminates unless the exercise of the Option in accordance with this paragraph 7 is prevented by the provisions of paragraph 4(f) above. If the exercise of the Option is so prevented, the Option shall remain
exercisable until three (3) months after the date the Optionee is notified by the Company that the Option is exercisable, but in any event no later than the Option Term Date. 

 

	 	(d)	Optionee Subject to Section 16(b). Notwithstanding the foregoing, if the exercise of the Option within the applicable time periods set forth above would
subject the Optionee to suit under Section 16(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Option shall remain exercisable until the earliest to occur of (i) the tenth (10th) day following
the date on which the Optionee would no longer be subject to such suit, (ii) the one hundred and ninetieth (190th) day after the Optionee’s termination of employment, or (iii) the Option Term Date. 

  

					
	H&M:127295.01	 	5	 	

	 	(e)	Leave of Absence. For purposes hereof, the Optionee’s employment with the Participating Company Group shall not be deemed to terminate if the Optionee takes
any military leave, sick leave, or other bona fide leave of absence approved by the Company of ninety (90) days or less. In the event of a leave in excess of ninety (90) days, the Optionee’s employment shall be deemed to terminate on
the ninety-first (91st) day of the leave unless the Optionee’s right to reemployment with the Participating Company Group remains guaranteed by statute or contract. 

 

	8.	Transfer of Control. The provisions of Paragraph 8 of the Plan shall apply with respect to the any Transfer of Control (as defined in the Plan).

  

	9.	Effect of Change in Stock Subject to the Option. The Board shall make appropriate adjustments in the number, exercise price and class of shares of stock subject
to the Option in the event of a stock dividend, stock split, reverse stock split, combination, reclassification, or like change in the capital structure of the Company. In the event a majority of the shares which are of the same class as the shares
that are subject to the Option are exchanged for, converted into, or otherwise become (whether or not pursuant to a Transfer of Control) shares of another corporation (the “New Shares”), the Board may unilaterally amend the Option to
provide that the Option is exercisable for New Shares. In the event of any such amendment, the number of shares and the exercise price shall be adjusted in a fair and equitable manner. 

 

	10.	Rights as a Stockholder or Employee. The Optionee shall have no rights as a stockholder with respect to any shares covered by the Option until the date of the
issuance of a certificate or certificates for the shares for which the Option has been exercised. No adjustment shall be made for dividends or distributions or other rights for which the record date is prior to the date such certificate or
certificates are issued, except as provided in paragraph 9 above. Nothing in the Option shall confer upon the Optionee any right to continue in the employ of a Participating Company or interfere in any way with any right of the Participating Company
Group to terminate the Optionee’s employment at any time. 

  

	11.	Right of First Refusal. 

  

	 	(a)	Right of First Refusal. In the event the Optionee proposes to sell, pledge, or otherwise transfer any shares acquired upon exercise of the Option (the
“Transfer Shares”) to any person or entity, including, without limitation, any stockholder of the Participating Company Group, the Company shall have the right to repurchase the Transfer Shares under the terms and subject to the conditions
set forth in this paragraph 11 (the “Right of First Refusal”). 

  

	 	(b)	Notice of Proposed Transfer. Prior to any proposed transfer of the Transfer Shares, the Optionee shall give a written notice (the “Transfer Notice”) to
the Company describing fully the proposed transfer, including the number of Transfer Shares, the name and address of the proposed transferee (the “Proposed Transferee”) and, if the transfer is voluntary, the proposed transfer price and
containing such information necessary to show the bona fide nature of the 

  

					
	H&M:127295.01	 	6	 	

	 	proposed transfer. In the event of a bona fide or involuntary transfer, the proposed transfer price shall be deemed to be the fair market value of the Transfer Shares
as determined by the Company in good faith. In the event the Optionee proposes to transfer any Transfer Shares to more than one (1) Proposed Transferee, the Optionee shall provide a separate Transfer Notice for the proposed transfer to each
Proposed Transferee. The Transfer Notice shall be signed by both the Optionee and the Proposed Transferee and must constitute a binding commitment of the Optionee and the Proposed Transferee for the transfer of the Transfer Shares to the Proposed
Transferee subject only to the Right of First Refusal. 

  

	 	(c)	Bona Fide Transfer. In the event that the Company shall determine that the information provided by the Optionee in the Transfer Notice is insufficient to
establish the bona fide nature of a proposed voluntary transfer, the Company shall give the Optionee written notice of the Optionee’s failure to comply with the procedure described in this paragraph 11 and the Optionee shall have no right to
transfer the Transfer Shares without first complying with the procedures described in this paragraph 11. The Optionee shall not be permitted to transfer the Transfer Shares if the proposed transfer is not bona fide. 

 

	 	(d)	Exercise of the Right of First Refusal. In the event the proposed transfer is deemed to be bona fide, the Company shall have the right to purchase all, but not
less than all, of the Transfer Shares at the purchase price and on the terms set forth in the Transfer Notice by delivery to the Optionee of a notice of exercise of the Right of First Refusal within thirty (30) days after the date the Transfer
Notice is delivered to the Company. The Company’s exercise or failure to exercise the Right of First Refusal with respect to any proposed transfer described in a Transfer Notice shall not affect the Company’s ability to exercise the Right
of First Refusal with respect to any proposed transfer described in any other Transfer Notice, whether or not such other Transfer Notice is issued by the Optionee or issued by a person other than the Optionee with respect to a proposed transfer to
the same Proposed Transferee. If the Company exercises the Right of First Refusal, the Company and the Optionee shall thereupon consummate the sale of the Transfer Shares to the Company on the terms set forth in the Transfer Notice; provided
however, that in the event that the Transfer Notice provides for the payment for the Transfer Shares other than in cash, the Company shall have the option of paying for the Transfer Shares by the discounted cash equivalent of the consideration
described in the Transfer Notice as reasonably determined by the Company. For purposes of the foregoing, cancellation of any indebtedness of the Optionee to any Participating Company shall be treated as payment to the Optionee in cash to the extent
of the unpaid principal and any accrued interest cancelled. 

  

	 	(e)	 Failure to Exercise the Right of First Refusal. If the Company fails to exercise the Right of First Refusal in full within the period specified
in paragraph 11(d) above, the Optionee may conclude a transfer to the Proposed Transferee of the Transfer 

  

					
	H&M:127295.01	 	7	 	

	 	Shares on the terms and conditions described in the Transfer Notice, provided such transfer occurs not later than one hundred twenty (120) days following delivery
to the Company of the Transfer Notice. The Company shall have the right to demand further assurances from the Optionee and the Proposed Transferee (in a form satisfactory to the Company) that the transfer of the Transfer Shares was actually carried
out on the terms and conditions described in the Transfer Notice. No Transfer Shares shall be transferred on the books of the Company until the Company has received such assurances, if so demanded, and has approved the proposed transfer as bona
fide. Any proposed transfer on terms and conditions different from those described in the Transfer Notice, as well as any subsequent proposed transfer by the Optionee, shall again be subject to the Right of First Refusal and shall require compliance
by the Optionee with the procedure described in this paragraph 11. 

  

	 	(f)	Transferees of the Transfer Shares. All transferees of the Transfer Shares or any interest therein, other than the Company, shall be required as a condition of
such transfer to agree in writing (in a form satisfactory to the Company) that such transferee shall receive and hold such Transfer Shares or interests subject to the provisions of this paragraph 11 providing for the Right of First Refusal with
respect to any subsequent transfer. Any sale or transfer of any shares acquired upon exercise of the Option shall be void unless the provisions of this paragraph 11 are met. 

 

	 	(g)	Transfers Not Subject to the Right of First Refusal. The Right of First Refusal shall not apply to any transfer or exchange of the shares acquired pursuant to
the exercise of the Option if (i) such transfer is in connection with a Transfer of Control, (ii) such transfer is to one or more members of the Optionee’s immediate family (or a trust for their benefit) provided all such transferees
agree in writing to the restrictions of paragraph 11(f), or (iii) such transfer has been approved by the Board, which approval may be granted or withheld in its complete discretion. If the consideration received pursuant to such transfer or
exchange consists of stock of a Participating Company, such consideration shall remain subject to the Right of First Refusal unless the provisions of paragraph 11(i) below result in a termination of the Right of First Refusal.

  

	 	(h)	Assignment of the Right of First Refusal. The Company shall have the right to assign the Right of First Refusal at any time, whether or not the Optionee has
attempted a transfer, to one (1) or more persons as may be selected by the Company. 

  

	 	(i)	Stock Dividends Subject to Option Agreement. If, from time to time, there is any stock dividend, stock split, or other change in the character or amount of any
of the outstanding stock of the Company, the stock of which is subject to the provisions of this Option Agreement, then, in such event, any and all new substituted or additional securities to which the Optionee is entitled by reason of the
Optionee’s ownership of the shares acquired upon exercise of the Option shall be immediately subject to the Right of First Refusal with the same force and effect as the shares subject to the Right of First Refusal immediately before such event.

  

					
	H&M:127295.01	 	8	 	

	 	(j)	Early Termination of the Right of First Refusal. The other provisions of this paragraph 11 notwithstanding, the Right of First Refusal shall terminate, and be of
no further force and effect, upon (i) the occurrence of a Transfer of Control, unless the surviving, continuing, successor, or purchasing corporation, as the case may be, assumes the Company’s rights and obligations under the Plan, or
(ii) the existence of a public market for the class of shares subject to the Right of First Refusal. A “public market” shall be deemed to exist if (x) such stock is listed on a national securities exchange (as that term is used
in the Exchange Act) or (y) such stock is traded on the over-the-counter market and prices therefor are published daily on business days in a recognized financial journal. 

 

	12.	Escrow. 

  

	 	(a)	Establishment of Escrow. To insure shares subject to the Right of First Refusal will be available for repurchase, the Company may require the Optionee to deposit
the certificate or certificates evidencing the shares which the Optionee purchases upon exercise of the Option with an escrow agent designated by the Company under the terms and conditions of an escrow agreement approved by the Company. If the
Company does not require such deposit as a condition of exercise of the Option, the Company reserves the right at any time to require the Optionee to so deposit the certificate or certificates in escrow. The Company shall bear the expenses of the
escrow. 

  

	 	(b)	Delivery of Shares to Optionee. As soon as practicable after the expiration of the Right of First Refusal, the escrow agent shall deliver to the Optionee the
shares no longer subject to such restrictions. 

  

	 	(c)	Notices and Payments. In the event the shares held in escrow are subject to the Company’s exercise of the Right of First Refusal, the notices required to be
given to the Optionee shall be given to the escrow agent and any payment required to be given to the Optionee shall be given to the escrow agent. Within thirty (30) days after payment by the Company, the escrow agent shall deliver the shares
which the Company has purchased to the Company and shall deliver the payment received from the Company to the Optionee. 

  

	13.	 Notice of Sales Upon Disqualifying Disposition. The Optionee shall dispose of the shares acquired pursuant to the Option only in accordance with
the provisions of this Option Agreement. In addition, the Optionee shall promptly notify the Chief Financial Officer of the Company if the Optionee disposes of any of the shares acquired pursuant to the Option within one (1) year from the date
the Optionee exercises all or part of the Option or within two (2) years of the date of grant of the Option. Until such time as the Optionee disposes of such shares in a manner consistent with the provisions of this Option Agreement, the
Optionee shall hold all shares acquired pursuant to the Option in the Optionee’s name (and 

  

					
	H&M:127295.01	 	9	 	

	 	 
not in the name of any nominee) for the one-year period immediately after exercise of the Option and the two-year period immediately after grant of the Option. At any time during the one-year or
two-year periods set forth above, the Company may place a legend or legends on any certificate or certificates representing shares acquired pursuant to the Option requesting the transfer agent for the Company’s stock to notify the Company of
any such transfers. The obligation of the Optionee to notify the Company of any such transfer shall continue notwithstanding that a legend has been placed on the certificate or certificates pursuant to the preceding sentence.

  

	14.	Legends. The Company may at any time place legends referencing the Right of First Refusal set forth in paragraph 11 above and any applicable federal or state
securities law restriction on all certificates representing shares of stock subject to the provisions of this Option Agreement. The Optionee shall, at the request of the Company, promptly present to the Company any and all certificates representing
shares acquired pursuant to the Option in the possession of the Optionee in order to effectuate the provisions of this paragraph. Unless otherwise specified by the Company, legends placed on such certificates may include, but shall not be limited
to, the following: 

  

	 	(a)	THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED OR
HYPOTHECATED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT COVERING SUCH SHARES, THE SALE IS MADE IN ACCORDANCE WITH RULE 144 OR RULE 701 UNDER THE ACT, OR THE CORPORATION RECEIVES AN OPINION OF COUNSEL FOR THE HOLDER OF THESE
SHARES REASONABLY SATISFACTORY TO THE CORPORATION, STATING THAT SUCH SALE, TRANSFER ASSIGNMENT OR HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT. 

 

	 	(b)	THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A RIGHT OF FIRST REFUSAL OPTION IN FAVOR OF THE CORPORATION OR ITS ASSIGNEE SET FORTH IN AN AGREEMENT
BETWEEN THE CORPORATION AND THE REGISTERED HOLDER, OR SUCH HOLDER’S PREDECESSOR IN INTEREST, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF THIS CORPORATION. 

 

	 	(c)	 THE SHARES EVIDENCED BY THIS CERTIFICATE WERE ISSUED BY THE CORPORATION TO THE REGISTERED HOLDER UPON EXERCISE OF AN INCENTIVE STOCK OPTION AS
DEFINED IN SECTION 422 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. THE TRANSFER AGENT FOR THE SHARES EVIDENCED HEREBY SHALL NOTIFY THE CORPORATION IMMEDIATELY OF ANY TRANSFER OF THE SHARES BY THE REGISTERED HOLDER

  

					
	H&M:127295.01	 	10	 	

	 	 
HEREOF MADE ON OR BEFORE THE REGISTERED HOLDER SHALL HOLD ALL SHARES PURCHASED UNDER THE OPTION IN THE REGISTERED HOLDER’S NAME (AND NOT IN THE NAME OF ANY NOMINEE) FOR A PERIOD OF ONE YEAR
FROM THE DATE OF EXERCISE OF THE OPTION OR TWO YEARS FROM THE DATE OF GRANT OF THE OPTION. 

  

	15.	Initial Public Offering. The Optionee hereby agrees that in the event of an initial public offering of stock made by the Company under the Securities Act, the
Optionee shall not offer, sell, contract to sell, pledge, hypothecate, grant any option to purchase or make any short sale of, or otherwise dispose of any shares of stock of the Company or any rights to acquire stock of the Company for such period
of time as may be established by the underwriter for such initial public offering; provided, however, that such period of time shall not exceed one hundred eighty (180) days from the effective date of the registration statement to be filed in
connection with such initial public offering. The foregoing limitation shall not apply to shares registered under the Securities Act. 

  

	16.	Binding Effect. This Option Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, administrators,
successors and assigns. 

  

	17.	Termination or Amendment. The Board may terminate or amend this Option Agreement at any time; provided, however, that no such termination or amendment may
adversely affect the Option or any unexercised portion hereof without the consent of the Optionee unless such amendment is required to enable the Option to qualify as an Incentive Stock Option. 

 

	18.	Integrated Agreement. This Option Agreement constitutes the entire understanding and agreement of the Optionee and the Participating Company Group with respect
to the subject matter contained herein, and there are no other agreements, understandings, restrictions, representations, or warranties among the Optionee and the Company with respect to the subject matter contained herein other than those as set
forth or provided for herein. To the extent contemplated herein, the provisions of this Option Agreement shall survive any exercise of the Option and shall remain in full force and effect. 

 

	19.	Terms and Conditions of Plan. The terms and conditions included in the Plan are incorporated by reference herein, and to the extent that any conflict may exist
between any term or provision of this Option Agreement and any term or provision of the Plan, the term or provision of the Plan shall control. 

 

					
	 LIPOSCIENCE, INC.

		
	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

  

					
	H&M:127295.01	 	11	 	

 The Optionee represents that the Optionee is familiar with the terms and provisions of this
Option Agreement, including the Right of First Refusal set forth in paragraph 11, and hereby accepts the Option subject to all of the terms and provisions thereof. The Optionee hereby agrees to accept as binding, conclusive and final all decisions
or interpretations of the Board of Directors of the Company made in good faith upon any questions arising under this Option Agreement. 
 The undersigned hereby acknowledges receipt of a copy of the Plan. 
  

							
	Date:	 	  
	 	 	 	  

		 		 		 	(Signature of Optionee)
				
		 		 		 	  

		 		 		 	(Printed Name of Optionee)

  

					
	H&M:127295.01	 	12	 	

 EXHIBIT A 
 LipoScience, Inc. 
 2500 Sumner Blvd. 
 Raleigh, North Carolina 27612 
  

	 	Re:	Exercise of Incentive Stock Option 

 Dear Sirs:

 Pursuant to the terms and conditions of the Incentive Stock Option Award Agreement dated as of
                     (the “Agreement”), between
                     (“Optionee”) and LipoScience, Inc. (the “Company”), Optionee hereby agrees to purchase
             shares (the “Shares”) of the Common Stock of the Company and tender payment in full for such shares in accordance with the terms of the Agreement. 

The Shares are being issued to Optionee in a transaction not involving a public offering and pursuant to an exemption from registration
under the Securities Act of 1933, as amended (the “1933 Act”). In connection with such purchase, Optionee represents, warrants and agrees as follows: 
  

	 	1.	The Shares are being purchased for the Optionee’s own account and not for the account of any other person, with the intent of holding the Shares for investment and
not with the intent of participating, directly or indirectly, in a distribution or resale of the Shares or any portion thereof. 

  

	 	2.	The Optionee is not acquiring the Shares based upon any representation, oral or written, by any person with respect to the future value of, or income from, the Shares,
but rather upon independent examination and judgment as to the prospects of the Company. 

  

	 	3.	The Optionee has had complete access to and the opportunity to review all material documents related to the business of the Company, has examined all such documents as
the Optionee desired, is familiar with the business and affairs of the Company and realizes that any purchase of the Shares is a speculative investment and that any possible profit therefrom is uncertain. 

 

	 	4.	The Optionee has had the opportunity to ask questions of and receive answers from the Company and its executive officers and to obtain all information necessary for the
Optionee to make an informed decision with respect to the investment in the Company represented by the Shares. 

  

	 	5.	The Optionee is able to bear the economic risk of any investment in the Shares, including the risk of a complete loss of the investment, and the Optionee acknowledges
that he or she may need to continue to bear the economic risk of the investment in the Shares for an indefinite period. 

	 	6.	The Optionee understands and agrees that the Shares are being issued and sold to the Optionee without registration under any state or federal laws relating to the
registration of securities, in reliance upon exemptions from registration under appropriate state and federal laws based in part upon the representations of the Optionee made herein. 

 

	 	7.	The Company is under no obligation to register the Shares or to comply with any exemption available for sale of the Shares by the Optionee without registration, and the
Company is under no obligation to act in any manner so as to make Rule 144 promulgated under the Securities Act of 1933 available with respect to any sale of the Shares by the Optionee. 

 

	 	8.	The Optionee has not relied upon the Company or an employee or agent of the Company with respect to any tax consequences related to exercise of this Option or the
disposition of the Shares. The Optionee assumes full responsibility for all such tax consequences and the filing of all tax returns and elections the Optionee may be required to or find desirable to file in connection therewith.

 Date:
                                        

  

			
	Very truly yours,
	
	  

		
	Print Name:	 	  

	
	  

	
	  

	
	  

	(Address)

  

					
	H&M:127295.01	 	2

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