Document:

ex10-2.htm

    
      

    

     

    Exhibit
10.2

    

    RESTRICTED
STOCK AWARD

    PURSUANT
TO THE THERAGENICS CORPORATION

    2006
STOCK INCENTIVE PLAN

    

    THIS AGREEMENT (sometimes referred to
as this “Award”) is made as of the Grant Date, by Theragenics Corporation (the
“Company”) to ____________ (the “Recipient”) subject to acceptance by the
Recipient.

    

    Upon and subject to the Terms and
Conditions attached hereto and incorporated herein by reference as part of this
Agreement, the Company hereby awards as of the Grant Date to the Recipient a
Stock Award consisting the Restricted Shares (the “Restricted Stock
Grant”).  Underlined and capitalized terms in items A through D below
shall have the meanings there ascribed to them.

    

    
      	
               
      

            	
              A.

            	
              Grant Date:
       February 19,
      2008

            

    

    

    
      	
               
      

            	
              B.

            	
              Plan (under which
      Restricted Stock Grant is granted): Theragenics Corporation 2006
      Stock Incentive Plan.

            

    

    

    
      	
               
      

            	
              C.

            	
              Restricted
      Shares: ________ shares of the Company’s common stock (“Common
      Stock”), subject to adjustment as provided in the attached Terms and
      Conditions.

            

    

    

    
      	
               
      

            	
              D.

            	
              Vesting
      Schedule:  The Restricted Shares shall vest in accordance
      with Exhibit
      1 hereto.  The Restricted Shares which have become vested
      pursuant to the Vesting Schedule are herein referred to as the “Vested
      Restricted Shares.”

            

    

    

    

    IN WITNESS WHEREOF, the Company and the
Recipient have executed this Agreement as of the Grant Date set forth
above.

    

    

    
      	 	RECIPIENT	THERAGENICS
      CORPORATION	 
	 	 	 	 
	 	 	By: _________________________	 
	 	____________________________	 	 
	 	[Signature]	Title:
      ________________________	 

    

     

             

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    TERMS
AND CONDITIONS TO THE

    RESTRICTED
STOCK AGREEMENT

    PURSUANT
TO THE THERAGENICS CORPORATION

    2006
STOCK INCENTIVE PLAN

    

    1.           Restricted Shares Held by
the Share Custodian.  The Recipient hereby authorizes and
directs the Company to deliver any share certificate issued by the Company to
evidence Restricted Shares to the Secretary of the Company or such other officer
of the Company as may be designated by the Committee (the “Share Custodian”) to
be held by the Share Custodian until the Restricted Shares become Vested
Restricted Shares in accordance with the Vesting Schedule.  When the
Restricted Shares become Vested Restricted Shares, the Share Custodian shall
deliver the Restricted Shares to the Recipient.  In the event that the
Recipient forfeits any of the Restricted Shares, and the number of Vested
Restricted Shares includes a fraction of a share, the Share Custodian shall not
be required to deliver the fractional share, and the Company may pay the
Recipient the amount determined by the Company to be the estimated fair market
value therefor.  The Recipient hereby irrevocably appoints the Share
Custodian and any successor thereto, as the true and lawful attorney-in-fact of
the Recipient with full power and authority to execute any stock transfer power
or other instrument necessary to transfer the Restricted Shares to the Company
in accordance with this Award, in the name, place, and stead of the
Recipient.  The term of such appointment shall commence on the date of
the Restricted Stock Grant and shall continue until the Restricted Shares are
delivered to the Recipient as provided above. In the event the number of shares
of Common Stock is increased or reduced by a change in the par value, split-up,
stock split, reverse stock split, reclassification, merger, reorganization,
consolidation, or otherwise, the Recipient agrees that any certificate
representing shares of Common Stock or other securities of the Company issued as
a result of any of the foregoing shall be delivered to the Share Custodian and
shall be subject to all of the provisions of this Award as if initially granted
thereunder.  To effect the provisions of this Section, the Recipient
shall complete an irrevocable stock power in favor of the Share Custodian in the
form attached hereto as Exhibit
2.

    

    2.           Rights of a
Shareholder.  During the period that the Share Custodian holds
the shares of Common Stock subject to Section 1, the Recipient shall be entitled
to all rights applicable to shares of Common Stock not so held, except as
otherwise provided in this award, including the right to receive dividends paid
on Common Stock notwithstanding that all or some of the Restricted Shares may
not be Vested Restricted Shares.

    

    3.           Withholding.  To
the extent required by law, the Company shall have the right to require the
Recipient to remit to the Company an amount sufficient to satisfy any federal,
state and local withholding tax requirement, if any, upon the earlier of the
vesting of the Restricted Shares or the effective date of an election pursuant
to Section 83(b) of the Internal Revenue Code with respect to such Restricted
Shares.  The Recipient must pay the withholding tax (i) in cash; (ii)
by certified check; or (iii) by tendering shares of Common Stock which have been
owned by the Recipient for at least six (6) months prior to the date of exercise
having a Fair Market Value equal to the withholding obligation.

    
      
         

      

      
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    4.           Restrictions on Transfer of
Restricted Shares.  Except for the transfer of any Restricted
Shares by bequest or inheritance, the Recipient shall not have the right to make
or permit to exist any transfer or hypothecation, whether outright or as
security, with or without consideration, voluntary or involuntary, of all or any
part of any right, title or interest in or to any unvested Restricted
Shares.  Any such disposition not made in accordance with this Award
shall be deemed null and void.  Any permitted transferee under this
Section shall be bound by the terms of this Award.

    

    5.           Additional Restrictions on
Transfer.  Certificates evidencing the Restricted Shares shall
have noted conspicuously on the certificate a legend required under applicable
securities laws or otherwise determined by the Company to be appropriate, such
as:

    

    Transfer is
restricted

    

    The
securities evidenced by this certificate are subject to restrictions on transfer
and forfeiture provisions which also apply to the transferee as set forth in a
restricted stock agreement dated february 19, 2008, a copy of which is available
from the Company.

    

    
      	
               
      

            	
              6.

            	
              Change in
      Capitalization.

            

    

    

    (a)           The
number and kind of Restricted Shares shall be proportionately adjusted for
nonreciprocal transactions between the Company and the holders of capital stock
of the Company that causes the per share value of the shares of Common Stock to
change, such as a stock dividend, stock split, spinoff, rights offering, or
recapitalization through a large, nonrecurring cash dividend (each, an “Equity
Restructuring”).

    

    (b)           In
the event of a merger, consolidation, extraordinary dividend, sale of
substantially all of the Company’s assets or other material change in the
capital structure of the Company, or a tender offer for shares of Common Stock,
or a Change in Control, that in each case is not an “Equity Restructuring,” the
Committee shall take such action to make such adjustments with respect to the
unvested Restricted Shares or the terms of this Award as the Committee, in its
sole discretion, determines in good faith is necessary or appropriate,
including, without limitation, adjusting the number and class of securities
subject to the unvested portion of the Award, substituting cash or other
securities, or other property to replace the unvested portion of the Award, or
removing of restrictions on unvested Restricted Shares.  All
determinations and adjustments made by the Committee pursuant to this Section
6(b) will be final and binding on the Recipient. Any action taken by the
Committee need not treat all recipients of awards under the Plan
equally.

    

    (c)           The
existence of the Plan and this Award shall not affect in any way the right or
power of the Company to make or authorize any adjustment, reclassification,
reorganization or other change in its capital or business structure, any merger
or consolidation of the Company, any issue of debt or equity securities having
preferences or priorities as to the Common Stock or the rights thereof, the
dissolution or liquidation of the Company, any sale or transfer of all or any
part of its business or assets, or any other corporate act or
proceeding.

    
      
         

      

      
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    7.           Governing
Laws.  This Award shall be construed, administered and enforced
according to the laws of the State of Georgia; provided, however, no Restricted
Shares shall be issued except, in the reasonable judgment of the Committee, in
compliance with exemptions under applicable state securities laws of the state
in which Recipient resides, and/or any other applicable securities
laws.

    

    8.           Successors.  This
Award shall be binding upon and inure to the benefit of the heirs, legal
representatives, successors, and permitted assigns of the parties.

    

    9.           Notice.  Except
as otherwise specified herein, all notices and other communications under this
Award shall be in writing and shall be deemed to have been given if personally
delivered or if sent by registered or certified United States mail, return
receipt requested, postage prepaid, addressed to the proposed recipient at the
last known address of the recipient.  Any party may designate any
other address to which notices shall be sent by giving notice of the address to
the other parties in the same manner as provided herein.

    

    10.           Severability.  In
the event that any one or more of the provisions or portion thereof contained in
this Award shall for any reason be held to be invalid, illegal, or unenforceable
in any respect, the same shall not invalidate or otherwise affect any other
provisions of this Award, and this Award shall be construed as if the invalid,
illegal or unenforceable provision or portion thereof had never been contained
herein.

    

    11.           Entire
Agreement.  Subject to the terms and conditions of the Plan,
this Award expresses the entire understanding and agreement of the parties with
respect to the subject matter.

    

    12.           Specific
Performance.  In the event of any actual or threatened default
in, or breach of, any of the terms, conditions and provisions of this Award, the
party or parties who are thereby aggrieved shall have the right to specific
performance and injunction in addition to any and all other rights and remedies
at law or in equity, and all such rights and remedies shall be
cumulative.

    

    13.           No Right to Continued
Retention.  Neither the establishment of the Plan nor the award
of Restricted Shares hereunder shall be construed as giving Recipient the right
to continued employment with the Company or an Affiliate.

    

    14.           Headings and Capitalized
Terms.  Paragraph headings used herein are for convenience of
reference only and shall not be considered in construing this
Award.  Capitalized terms used, but not defined, in this Award shall
be given the meaning ascribed to them in the Plan.

    
      
         

      

      
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    15.           Definitions.  As
used in these Terms and Conditions and this Award:

    

    “Cause” shall have the
meaning set forth in the employment agreement then in effect between the
Recipient and the Company or, if there is none, then Cause shall mean the
occurrence of any of the following events: (i) willful and continued
failure (other than such failure resulting from his incapacity during physical
or mental illness) by the Recipient to substantially perform his duties with the
Company or an Affiliate; (ii) conduct by the Recipient that amounts to willful
misconduct or gross negligence; (iii) any act by the Recipient of fraud,
misappropriation, dishonesty, embezzlement or similar conduct against the
Company or an Affiliate; (iv) commission by the Recipient of a felony or
any other crime involving dishonesty; or (v) illegal use by the Recipient
of alcohol or drugs.

    

    “Change in Control”
means any one of the following events which occurs following the Grant
Date:

     

     

    
      
        	
                 

              	
                

                  (1)    the acquisition
      by any individual, entity or group (within the meaning of Section 13(d)(3)
      or 14(d)(2) of the Securities Exchange Act of 1934, as amended
      (the“Exchange Act”)) (a
      “Person”) of beneficial ownership (within the meaning of Rule 13d-3
      promulgated under the Exchange Act) of voting securities of the
      corporation where such acquisition causes such person to own thirty-five
      percent (35%) or more of the combined voting power of the then outstanding
      voting securities of the Company entitled to vote generally in the
      election of directors (the “Outstanding Company Voting Securities”);
      provided, however, that for purposes of this Subsection (1), the following
      acquisitions shall not be deemed to result in a Change in
      Control:  (i) any acquisition directly from the Company,
      (ii) any acquisition by the Company, (iii) any acquisition by
      any employee benefit plan (or related trust) sponsored or maintained by
      the Company or any corporation controlled by the Company or (iv) any
      acquisition by any corporation pursuant to a transaction that complies
      with clauses (i), (ii) and (iii) of Subsection (3) below; and provided,
      further, that if any Person’s beneficial ownership of the Outstanding
      Company Voting Securities reaches or exceeds thirty-five percent (35%) as
      a result of a transaction described in clause (i) or (ii) above, and such
      Person subsequently acquires beneficial ownership of additional voting
      securities of the Company, such subsequent acquisition shall be treated as
      an acquisition that causes such Person to own thirty-five percent (35%) or
      more of the Outstanding Company Voting Securities;
  or

                

              

      

    

             

    
      	
               

            	
              (2)    individuals who
      as of the date hereof, constitute the Board of Directors (the “Incumbent
      Board”) cease for any reason to constitute at least a majority of the
      Board of Directors; provided, however, that any individual becoming a
      director subsequent to the date hereof whose election, or nomination for
      election by the Company’s shareholders, was approved by a vote of at least
      two-thirds of the directors then comprising the Incumbent Board shall be
      considered as though such individual were a member of the Incumbent Board,
      but excluding, for this purpose, any such individual whose initial
      assumption of office occurs as a result of an actual or threatened
      election contest with respect to the election
      or removal of directors or other actual or threatened solicitation of
      proxies or consents by or on behalf of a Person other than the Board of
      Directors; or

            

    

    
      
         

      

      
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              (3)    approval by the
      shareholders of the Company of a reorganization, merger or consolidation
      or sale or other disposition of all or substantially all of the assets of
      the Company (“Business Combination”) or, if consummation of such Business
      Combination is subject, at the time of such approval by shareholders, to
      the consent of any government or governmental agency, the obtaining of
      such consent (either explicitly or implicitly by consummation); excluding,
      however, such a Business Combination pursuant to which (i) all or
      substantially all of the individuals and entities who were the beneficial
      owners of the Outstanding Company Voting Securities immediately prior to
      such Business Combination beneficially own, directly or indirectly, more
      than sixty percent (60%) of, respectively, the then outstanding shares of
      common stock and the combined voting power of the then outstanding voting
      securities entitled to vote generally in the election of directors, as the
      case may be, of the corporation resulting from such Business Combination
      (including, without limitation, a corporation that as a result of such
      transaction owns the Company or all or substantially all of the Company’s
      assets either directly or through one or more subsidiaries) in
      substantially the same proportions as their ownership, immediately prior
      to such Business Combination of the Outstanding Company Voting Securities,
      (ii) no Person (excluding any employee benefit plan (or related
      trust) of the Company or such corporation resulting from such Business
      Combination) beneficially owns, directly or indirectly, thirty-five
      percent (35%) or more of, respectively, the then outstanding shares of
      common stock of the corporation resulting from such Business Combination
      or the combined voting power of the then outstanding voting securities of
      such corporation except to the extent that such ownership existed prior to
      the Business Combination and (iii) at least a majority of the members
      of the board of directors of the corporation resulting from such Business
      Combination were members of the Incumbent Board at the time of the
      execution of the initial agreement, or of the action of the Board,
      providing for such Business Combination;
or

            

    

    

    
      	
               

            	
              (4)    approval by the
      shareholders of the Company of a complete liquidation or dissolution of
      the Company.

            

    

    

    Notwithstanding
the foregoing, no Change in Control shall be deemed to have occurred for
purposes of this Agreement by reason of any actions or events in which the
Recipient participates in a capacity other than in his capacity as an employee
or director of the Company or an Affiliate.

    

    

    
      
         

      

      
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    EXHIBIT
1

    

    

    VESTING
SCHEDULE

    

    
      	
              A.

            	
              One-fourth
      of the Restricted Shares shall become Vested Restricted Shares on each
      anniversary of the Grant Date; provided the Recipient is continuously an
      employee or director of the Company or an Affiliate from the Grant Date
      through the applicable vesting
      date.

            

    

    

    
      	
              B.

            	
              Notwithstanding
      Section A above, all of the Restricted Shares shall become Vested
      Restricted Shares upon the earlier of the following
  events:

            

    

     

    
    

    
      
        	
                 
      

              	
                1.

              	
                
                  the
      date of the occurrence of a Change in Control;
  or

                

              

      

       

    

    
      	
               
      

            	
              2.

            	
              the
      date of the Recipient’s retirement (i.e., voluntary resignation) upon or
      after reaching age 65.

            

    

     

    
      	
              C.

            	
              Notwithstanding
      Sections A and B above, upon the earliest of the following
      events:

            

    

     

    
      	
               
      

            	
              1.

            	
              the
      date of the Recipient’s death;

            

    

     

    
      	
               
      

            	
              2.

            	
              the
      date of the Recipient’s Disability;
or

            

    

     

    
      	
               
      

            	
              3.

            	
              the
      date the Company terminates the Recipient’s employment or service without
      Cause;

            

    

     

    the
Restricted Shares shall become Vested Restricted Shares in the same proportion
that the number of full days elapsed between the Grant Date and the date the
Recipient ceases to be an employee or director of the Company or an Affiliate
bears to the total number of days in the vesting period.

     

    
      	
              D.

            	
              Notwithstanding
      any other provision of this Vesting Schedule, Restricted Shares which have
      not become Vested Restricted Shares as of the date the Recipient ceases to
      be an employee or director of the Company or an Affiliate shall be
      forfeited.

            

    

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
2

    

    

    IRREVOCABLE
STOCK POWER

    

    

    The
undersigned hereby assigns and transfers to Theragenics Corporation (the
“Company”), _________ shares of the Common Stock of the Company registered in
the name of the undersigned on the stock transfer records of the Company and
represented by Stock Certificate No. ____________________ of the Company; and
the undersigned does hereby irrevocably constitute and appoint Lynn Rogers,
his/her attorney-in-fact, to transfer the aforesaid shares on the books of the
Company, with full power of substitution; and the undersigned does hereby ratify
and confirm all that said attorney-in-fact lawfully shall do by virtue
hereof.

     

     

    
      	Date: ______________________________	 	Signed:
      ____________________________	 
	 	 	 	 
	 	 	Print Name:
      _________________________	 
	 	 	 	 
	IN THE PRESENCE
      OF:	 	 	 
	 	 	 	 
	 	 	 	 
	     (Print
      Name)	 	 	 
	 	 	 	 
	 	 	 	 
	     (Signature)ex10-3.htm

    
      

    

    Exhibit
10.3

    

    THERAGENICS
CORPORATION

    2008
LONG-TERM

    CASH
INCENTIVE PLAN

    

    SECTION
I.  INTRODUCTION

    

    1.1           Purpose.  The
purpose of the Theragenics Corporation 2008 Long-Term Cash Incentive Plan (the
“Plan”) set forth below is to provide cash incentive compensation to certain
employees of Theragenics Corporation (the “Company”) and its affiliates to
stimulate their efforts to attain certain cumulative revenue and EBITDA (as
defined in Section 4.2) goals of the Company over the period beginning on
January 1, 2008 and ending on December 31,
2010.

    

    1.2           Effective
Date.  This Plan is effective as of February 19, 2008 (the
“Effective Date”), the date it was approved by the Board of Directors of the
Company (the “Board”).

    

    SECTION
II.   ELIGIBILITY AND ADMINISTRATION

    

    2.1           Eligibility.  The
Board shall determine, in its sole discretion, the employees of the Company or
its Affiliates eligible to participate in the Plan (the
“Participants”).  As of the Effective Date, the Participants are set
forth in Exhibit
A.  The Board may designate additional Participants during the
Performance Period.  Once a person becomes a Participant in the Plan,
the Participant shall remain a Participant until any Cash Incentive Award
payable hereunder has been paid out or forfeited.

    

    2.2            Administration.  The
Plan shall be administered by the Compensation Committee of the Board (the
“Committee”).

    

    SECTION
III.   DEFINITIONS

    

    3.1           “Affiliate”
means:

    

    (a)           Any
Subsidiary or Parent,

    

    (b)           An
entity that directly or through one or more intermediaries controls, is
controlled by, or is under common control with the Company, as determined by the
Company, or

    

    (c)           Any
entity in which the Company has such a significant interest that the Company
determines it should be deemed an “Affiliate,” as determined in the sole
discretion of the Company.

    

    3.2           “Cash Incentive Award”
means an award of either or both a cumulative revenue cash award pursuant to
Section 4.1 hereof and a cumulative EBIDTA cash award pursuant to Section 4.2
hereof, but if Section 5.1 or 5.2 applies, as adjusted pursuant
thereto.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    3.3           “Cause” shall have the
meaning set forth in the employment agreement then in effect between the
Participant and the Company or, if there is none, then Cause shall mean the
occurrence of any of the following events: (i) willful and continued
failure (other than such failure resulting from his incapacity during physical
or mental illness) by the Participant to substantially perform his duties with
the Company or an affiliate; (ii) conduct by the Participant that amounts to
willful misconduct or gross negligence; (iii) any act by the Participant of
fraud, misappropriation, dishonesty, embezzlement or similar conduct against the
Company or an affiliate; (iv) commission by the Participant of a felony or
any other crime involving dishonesty; or (v) illegal use by the Participant
of alcohol or drugs.

    

    3.4           “Change in Control”
means any one of the following events which occurs following the Grant
Date:

     

           
(a)           the
acquisition by any individual, entity or group (within the meaning of Section
13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of
Rule 13d-3 promulgated under the Exchange Act) of voting securities of the
corporation where such acquisition causes such person to own thirty-five percent
(35%) or more of the combined voting power of the then outstanding voting
securities of the Company entitled to vote generally in the election of
directors (the “Outstanding Company Voting Securities”); provided, however, that
for purposes of this Subsection (a), the following acquisitions shall not be
deemed to result in a Change in Control:  (i) any acquisition directly
from the Company, (ii) any acquisition by the Company, (iii) any
acquisition by any employee benefit plan (or related trust) sponsored or
maintained by the Company or any corporation controlled by the Company or
(iv) any acquisition by any corporation pursuant to a transaction that
complies with clauses (i), (ii) and (iii) of Subsection (c) below; and provided,
further, that if any Person’s beneficial ownership of the Outstanding Company
Voting Securities reaches or exceeds thirty-five percent (35%) as a result of a
transaction described in clause (i) or (ii) above, and such Person subsequently
acquires beneficial ownership of additional voting securities of the Company,
such subsequent acquisition shall be treated as an acquisition that causes such
Person to own thirty-five percent (35%) or more of the Outstanding Company
Voting Securities; or

    

    (b)           individuals
who as of the date hereof, constitute the Board of Directors (the “Incumbent
Board”) cease for any reason to constitute at least a majority of the Board of
Directors; provided, however, that any individual becoming a director subsequent
to the date hereof whose election, or nomination for election by the Company’s
shareholders, was approved by a vote of at least two-thirds of the directors
then comprising the Incumbent Board shall be considered as though such
individual were a member of the Incumbent Board, but excluding, for this
purpose, any such individual whose initial assumption of office occurs as a
result of an actual or threatened election contest with respect to the election
or removal of directors or other actual or threatened solicitation of proxies or
consents by or on behalf of a Person other than the Board of Directors;
or

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

       

    

    (c)           the
approval by the shareholders of the Company of a reorganization, merger or
consolidation or sale or other disposition of all or substantially all of the
assets of the Company (“Business Combination”) or, if consummation of such
Business Combination is subject, at the time of such approval by shareholders,
to the consent of any government or governmental agency, the obtaining of such
consent (either explicitly or implicitly by consummation); excluding, however,
such a Business Combination pursuant to which (i) all or substantially all of
the individuals and entities who were the beneficial owners of the Outstanding
Company Voting Securities immediately prior to such Business Combination
beneficially own, directly or indirectly, more than sixty percent (60%) of,
respectively, the then outstanding shares of common stock and the combined
voting power of the then outstanding voting securities entitled to vote
generally in the election of directors, as the case may be, of the corporation
resulting from such Business Combination (including, without limitation, a
corporation that as a result of such transaction owns the Company or all or
substantially all of the Company’s assets either directly or through one or more
subsidiaries) in substantially the same proportions as their ownership,
immediately prior to such Business Combination of the Outstanding Company Voting
Securities, (ii) no Person (excluding any employee benefit plan (or related
trust) of the Company or such corporation resulting from such Business
Combination) beneficially owns, directly or indirectly, thirty-five percent
(35%) or more of, respectively, the then outstanding shares of common stock of
the corporation resulting from such Business Combination or the combined voting
power of the then outstanding voting securities of such corporation except to
the extent that such ownership existed prior to the Business Combination and
(iii) at least a majority of the members of the board of directors of the
corporation resulting from such Business Combination were members of the
Incumbent Board at the time of the execution of the initial agreement, or of the
action of the Board, providing for such Business Combination; or

    

    (d)           approval
by the shareholders of the Company of a complete liquidation or dissolution of
the Company.

    

    Notwithstanding
the foregoing, no Change in Control shall be deemed to have occurred for
purposes of this Agreement by reason of any actions or events in which the
Participant participates in a capacity other than in his capacity as an employee
of the Company or an affiliate.

    

    3.5           “Disability” shall
have the meaning set forth in the employment agreement then in effect between
the Participant and the Company or, if there is none, Disability shall mean the
inability of the Participant to perform any of his duties for the Company and
its affiliates due to a physical, mental, or emotional impairment, as determined
by an independent qualified physician (who may be engaged by the Company), for a
ninety (90) consecutive day period or for an aggregate of one hundred eighty
(180) days during any three hundred sixty-five (365) day period.

    

    3.6           “Parent” means 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 50% or more of the total combined voting power of all classes of
stock in one of the other corporations in such chain.  A Parent shall
include any entity other than a corporation to the extent permissible under
Section 424(f) or regulations and rulings thereunder.

    

    3.7           “Performance Period”
shall mean the three-consecutive-year period beginning January 1, 2008 and ending on December
31, 2010.

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

       

    

    3.8           “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 50% or more of the total
combined voting power of all classes of stock in one of the other corporations
in the chain.  A “Subsidiary” shall include any entity other than a
corporation to the extent permissible under Section 424(f) or regulations or
rulings thereunder.

    

    IV.   CASH
INCENTIVE AWARD

    

    4.1           Amount of Cumulative Revenue
Cash Award.  The cumulative revenue cash award payable at the
end of the Performance Period shall be determined based upon the performance
level of the Company over the Performance Period according to the following
schedule:

    

    
      	
              Performance
      Level

              of the
      Company

            	
              Cumulative
      

              Revenue

            	
              Award
      

              Amount

            
	
              Maximum
      Performance 

              Level

            	
              Revenue
      level 

              associated
      with 

              maximum*

            	
              1xTarget

            
	
              Target
      Performance

              Level

            	
              Revenue
      level 

              associated
      with 

              target*

            	
              .5xTarget

            
	
              Threshold
      Performance 

              Level

            	
              Revenue
      level 

              associated
      with 

              threshold*

            	
              .25xTarget

            

    

    

           
For purposes of the above schedule, “Cumulative Revenue” means the Company’s
cumulative revenue for the Performance Period determined from the Company’s
audited financial statements.  No cumulative revenue cash award is
payable if the Cumulative Revenue is less than the Threshold Level.

     

            *
Cash award payable will be determined by linear interpolation for Cumulative
Revenue between (revenue level associated with maximum) and (revenue level
associated with target) or between (revenue level associated with target) and
(revenue level associated with threshold).

    

    4.2           Amount of Cumulative
Earnings Before Interest, Taxes, Amortization and Depreciation (EBITDA)
Award.  The EBITDA award payable at the end of the Performance
Period shall be determined based upon the performance level of the Company over
the Performance Period according to the following schedule:

    

    

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    

     

    

    
      	
              Performance
      Level

              of the
      Company

            	
              Cumulative
      

              EBITDA

            	
              Award
      

              Amount

            
	
              Maximum
      Performance 

              Level

            	
              EBITDA
      level 

              associated
      with 

              maximum**

            	
              1xTarget

            
	
              Target
      Performance

              Level

            	
              EBITDA
      level 

              associated
      with 

              target**

            	
              .5xTarget

            
	
              Threshold
      Performance 

              Level

            	
              EBITDA
      level 

              associated
      with 

              threshold**

            	
              .25xTarget

            

    

    

    For
purposes of the above schedule, “EBITDA” means the Company’s net earnings plus
interest expense, taxes, depreciation, amortization (including share based
compensation) and other non operating expense, less interest income and other
income, for the Performance Period and determined from the Company’s audited
financial statements.  No EBITDA award is payable if the Cumulative
EBITDA is less than the Threshold Level.

    

    **  Cash
award payable will be determined by linear interpolation for Cumulative EBITDA
between (EBITDA level associated with maximum) and (EBITDA level associated with
target) or between
(EBITDA level associated with target) and (EBITDA level associated with
threshold).

    

    4.3           Determination of
“Target.”  For purposes of calculating the award amount under
Sections 4.1 and 4.2, “Target” shall be determined by the Board for each
Participant; provided that, in the case of the employees who are Participants as
of the Effective Date, the Targets are set forth on Exhibit
A.

    

    4.4           Additional
Participants.  If employees other than those listed on Exhibit A hereto
become Participants in the Plan, the Board will determine whether any form of
proration will apply to determine his or her Cash Incentive Award.

     

           
4.5           Payment of Cash Incentive
Award.  The Committee shall certify the cumulative revenue and
EBITDA results before any Cash Incentive Award is paid.  Except as
provided in Sections 5.1 and 5.2, the Cash Incentive Award will be earned and
accrued and payable if the Participant is an employee of the Company or an
Affiliate on the last day of the Performance Period, regardless of whether the
Participant ceases to be an employee of the Company or an Affiliate before the
payment date for any reason whatsoever, including without limitation, a
termination by the Company for Cause or resignation by the
Participant.  Except as provided in Sections 5.1 and 5.2, any Cash
Incentive Award earned by a Participant over the Performance Period shall be
paid in cash in the year following the end of the Performance Period, but in no
event after the 15th day of
the third month of such year.

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

       

    

    V.   TERMINATION
OF EMPLOYMENT

     

           
5.1           Termination of
Employment.  If the Company or an Affiliate terminates the
Participant’s employment for Cause or the Participant resigns his employment
(except as provided below) with the Company or an Affiliate before the last day
of the Performance Period, the Participant shall not receive the Cash Incentive
Award.  If, before the last day of the Performance Period, the Company
or an Affiliate terminates the Participant’s employment without Cause, or the
Participant dies while employed by the Company or an Affiliate, or suffers a
Disability while employed by the Company or an Affiliate (each, a “Payment
Event”), the amount of the Cash Incentive Award will be determined as of the end
of the year in which the Payment Event occurs based on the following methodology
unless otherwise determined by the Board of Directors of the Company (or a
committee thereof):  Notwithstanding Sections 4.1 and 4.2, Cumulative
Revenue and Cumulative EBITDA for the Performance Period will be projected by
assuming that cumulative revenue and cumulative EBITDA for the period from the
beginning of the Performance Period through the end of the year in which the
Payment Event occurs continues at the same average rate through the end of the
Performance Period.  (For example, if a Participant dies in 2009 and
cumulative revenue from January 1, 2008 through December 31, 2009, is $50,
Cumulative Revenue for the Performance Period will be projected to be $75,
unless otherwise determined by the Board of Directors of the Company (or a
committee thereof).)  The amount of the Cash Incentive Award to which
the Participant is entitled shall be prorated in the same proportion that the
number of days elapsed from the beginning of the Performance Period through the
date the Participant ceases to be an employee of the Company or an Affiliate
bears to the total number of days in the Performance Period.  The
amount of the Cash Incentive Award to which the Participant is entitled shall be
paid in cash in the year following the year in which such Payment Event occurs,
but in no event later than the 15th day of
the third month of such year.

     

           
5.2           Change in
Control.  If a Change in Control occurs during the Performance
Period while the Participant is an employee of the Company or an Affiliate, the
Participant shall be paid on the date of the Change in Control the full value of
the Cash Incentive Award determined as if the Company had performed at the
Target Performance Level for the duration of the Performance Period and the
Participant had remained employed for the duration of the Performance
Period.

    

    VI.   MISCELLANEOUS

     

           
6.1           Taxes.  The
Company shall withhold the amount of taxes, which in the determination of the
Company are required to be withheld under federal, state and local laws and all
other applicable payroll withholding with respect to any amount payable under
the Plan.

     

            
6.2           No Right to Continued
Employment.  Neither the establishment of the Plan, nor the
participation in the Plan or any payment thereunder shall be deemed to
constitute an express or implied contract of employment of any Participant for
any period of time or in any way abridge the rights of the Company or an
Affiliate to determine the terms and conditions of employment or to terminate
the employment of any Participant with or without Cause at any
time.

     

            
6.3           Choice of
Law.  The laws of the State of Delaware shall govern the Plan,
to the extent not preempted by federal law, without reference to the principles
of conflict of laws.

    

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    

     

                                                    THERAGENICS
CORPORATION

     

     

                                                    By: /s/ Francis J.
Tarallo                             

     

     

                                                    Title: Chief Financial
Officer                       

     

     

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    

    EXHIBIT
A

    

     

    
      	
              Participants

            	 	
              Target

            
	 	 	 
	M. Christine
      Jacobs	 	$  175,000
	 	 	 
	Francis J.
      Tarallo	 	$    85,000
	 	 	 
	Bruce W.
      Smith	 	$    75,000
	 	 	 
	Patrick J.
      Ferguson	 	$    75,000
	 	 	 
	Michael F.
      Lang	 	$    75,000
	 	 	 
	Michael
      O’Bannon	 	$    40,000

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