Document:

exv10w1

Exhibit 10.1

BIOCLINICA, INC.

2010 STOCK INCENTIVE PLAN

ARTICLE ONE

GENERAL PROVISIONS

     I. PURPOSE OF THE PLAN

          The 2010 Stock Incentive Plan is intended to promote the interests of BioClinica, Inc., a
Delaware corporation, by providing eligible persons in the Corporation’s service with the
opportunity to acquire a proprietary interest, or otherwise increase their proprietary interest, in
the Corporation as an incentive for them to remain in such service.

          The Plan shall serve as the successor to the Corporation’s 2002 Stock Incentive Plan (the
“Predecessor Plan”), and no further stock option grants, restricted stock unit awards or other
stock-based awards shall be made under the Predecessor Plan on or after the Plan Effective Date.
However, all option grants and restricted stock unit awards outstanding under the Predecessor Plan
on the Plan Effective Date shall continue in full force and effect in accordance with their terms,
and no provision of this Plan shall be deemed to affect or otherwise modify the rights or
obligations of the holders of those awards with respect to their acquisition of shares of Common
Stock thereunder.

          Capitalized terms shall have the meanings assigned to such terms in the attached Appendix.

     II. STRUCTURE OF THE PLAN

          The Plan shall consist of a Discretionary Grant Program under which eligible persons may, at
the discretion of the Plan Administrator, be granted (i) options, (ii) stock appreciation rights,
(iii) stock awards, (iv) restricted stock units, (v) performance shares, (vi) cash incentive awards
and (vii) dividend equivalent rights.

     III. ADMINISTRATION OF THE PLAN

          A. The Compensation Committee shall have sole and exclusive authority to administer
the Discretionary Grant Program with respect to Section 16 Insiders. Administration of the
Discretionary Grant Program with respect to all other persons eligible to participate in that
program may, at the Board’s discretion, be vested in the Compensation Committee or a Secondary
Board Committee, or the Board may retain the power to administer the program with respect to all
such persons. However, any discretionary Awards for members of the Compensation Committee must be
authorized by a disinterested majority of the Board.

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          B. To the extent permitted by applicable law, the Board may delegate to one or more
executive officers of the Corporation the power to grant options under the Plan to one or more
Employees and to exercise such other powers under the Plan as the Board may determine; provided,
however, that, the Board shall fix the terms of the option grants to be made by such executive
officers (including the exercise price of any awarded options, which may include a formula by which
such exercise price is to be determined, the applicable vesting schedules and the maximum option
term) and the maximum number of shares for which options may be granted by such executive officers.
In no event, however, shall any executive officer be authorized to make option grants to any
Section 16 Insider.

          C. Members of the Compensation Committee or any Secondary Board Committee and any
executive officers delegated Plan administration authority by the Board shall serve for such period
of time as the Board may determine and may be removed by the Board at any time. The Board may also
at any time terminate the functions of any Secondary Board Committee or executive officers and
reassume all powers and authority previously delegated to such committee or officers.

          D. Each Plan Administrator shall, within the scope of its administrative functions
under the Plan, have full power and authority (subject to the provisions of the Plan) to establish
such rules and regulations as it may deem appropriate for proper administration of the
Discretionary Grant Program and to make such determinations under, and issue such interpretations
of, the provisions of that program and any outstanding Awards thereunder as it may deem necessary
or advisable. Decisions of the Plan Administrator within the scope of its administrative functions
under the Plan shall be final and binding on all parties who have an interest in the Discretionary
Grant Program under its jurisdiction or any Award thereunder.

          E. Service as a Plan Administrator by the members of the Compensation Committee or
the Secondary Board Committee shall constitute service as Board members, and the members of each
such committee shall accordingly be entitled to full indemnification and reimbursement as Board
members for their service on such committee. No member of the Compensation Committee or the
Secondary Board Committee shall be liable for any act or omission made in good faith with respect
to the Plan or any Award thereunder.

     IV. ELIGIBILITY

          A. The persons eligible to participate in the Discretionary Grant Program are as
follows:

               (i) Employees,

               (ii) non-employee members of the Board or the board of directors of any Parent
or Subsidiary, and

               (iii) consultants and other independent advisors who provide services to the
Corporation (or any Parent or Subsidiary).

          B. The Plan Administrator shall have full authority to determine which eligible
persons are to receive Awards under the Plan, the time or times when those Awards are to be made,
the number of shares to be covered by each such Award, the time or times when the Award is to
become exercisable, the status of an option for federal tax purposes, the maximum term for which an

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option or stock appreciation right is to remain outstanding, the vesting and issuance
schedules applicable to the shares which are the subject of the Award, the cash consideration (if
any) payable for those shares and the form (cash or shares of Common Stock) in which the Award is
to be settled and, with respect to performance–based Awards, the performance objectives for each
such Award, the amounts payable at designated levels of attained performance, any applicable
service vesting requirements, and the payout schedule for each such Award.

     V. STOCK SUBJECT TO THE PLAN

          A. The stock issuable under the Plan shall be shares of authorized but unissued or
reacquired Common Stock, including shares repurchased by the Corporation on the open market. The
number of shares of Common Stock initially reserved for issuance over the term of the Plan shall be
limited to One Million One Hundred Twenty-One Thousand Six Hundred and Sixteen (1,121,616) shares.
Such share reserve is comprised of (i) the number of shares of Common Stock estimated to remain
available for issuance under the Predecessor Plan on the Plan Effective Date, including the portion
of those shares subject to options and restricted stock units outstanding under the Predecessor
Plan on that date, plus (ii) an additional Seven Hundred Fifty Thousand (750,000)-share increase
which was approved by the Board on March 29, 2010.

          B. To the extent any options outstanding under the Predecessor Plan on the Effective
Date expire, are forfeited or cancelled or terminate unexercised or any unvested restricted stock
unit awards outstanding under the Predecessor Plan on the Plan Effective Date are forfeited or
cancelled, the number of shares of Common Stock at the time subject to those expired, forfeited,
cancelled or terminated options and the number of shares of Common Stock at the time subject to
those forfeited or cancelled restricted stock unit awards shall be added to the share reserve under
this Plan and shall accordingly be available for award and issuance hereunder, up to a maximum of
an additional Two Hundred Fifty Thousand (250,000) shares.

          C. The maximum number of shares of Common Stock for which Incentive Stock Options
may be granted over the term of the Plan shall be One Million One Hundred Twenty-One Thousand Six
Hundred and Sixteen (1,121,616) shares increased by up to Two Hundred Fifty Thousand (250,000)
shares for any increase in the share reserve by reason of the expiration, forfeiture, cancellation
or termination of awards under the Predecessor Plan. Such limits shall be subject to adjustment
under Section V.F. of this Article One.

          D. Each person participating in the Plan shall be subject to the following
limitations:

          - for Awards denominated in terms of shares of Common Stock (whether payable in
Common Stock, cash or a combination of both), the maximum number of
shares of Common Stock for which such Awards may be made to such
person in any calendar year shall not exceed in the aggregate Two
Hundred Thousand (200,000) shares of Common Stock; and

          - for Awards denominated in cash (whether payable in cash, Common Stock
or a combination of both) and subject to one or more performance
conditions, the maximum dollar amount for which such Awards may be
made in the aggregate to such person shall not exceed One Million
Dollars ($1,000,000.00) for each calendar year within the applicable
performance measurement period.

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          E. Shares of Common Stock subject to outstanding Awards made under the Plan shall be
available for subsequent grant under the Plan to the extent those Awards expire or terminate for
any reason prior to the issuance of the shares of Common Stock subject to those Awards. Unvested
shares issued under the Plan and subsequently forfeited or repurchased by the Corporation, at a
price per share not greater than the original issue price paid per share, pursuant to the
Corporation’s repurchase rights under the Plan shall be added back to the number of shares of
Common Stock reserved for issuance under the Plan and shall accordingly be available for subsequent
reissuance. Should the exercise price of an option under the Plan be paid with shares of Common
Stock, then the authorized reserve of Common Stock under the Plan shall be reduced by the gross
number of shares for which that option is exercised, and not by the net number of shares issued
under the exercised stock option. Upon the exercise of any stock appreciation right under the
Plan, the share reserve shall be reduced by the gross number of shares as to which such right is
exercised, and not by the net number of shares actually issued by the Corporation upon such
exercise. If shares of Common Stock otherwise issuable under the Plan are withheld by the
Corporation in satisfaction of the withholding taxes incurred in connection with the exercise,
vesting, issuance or settlement of an Award, then the number of shares of Common Stock available
for issuance under the Plan shall be reduced on the basis of the gross number of shares issuable,
vested or settled, calculated in each instance prior to any such share withholding.

          F. If any change is made to the Common Stock by reason of any stock split, stock
dividend, recapitalization, combination of shares, exchange of shares, spin-off transaction or
other change affecting the outstanding Common Stock as a class without the Corporation’s receipt of
consideration, or should the value of outstanding shares of Common Stock be substantially reduced
as a result of a spin-off transaction or an extraordinary dividend or distribution, then the
Compensation Committee shall make equitable adjustments to: (i) the maximum number and/or class of
securities issuable under the Plan; (ii) the maximum number and/or class of securities by which the
share reserve under the Plan may increase by reason of the expiration, forfeiture, cancellation or
termination of awards under the Predecessor Plan; (iii) the maximum number and/or class of
securities that may be issued under the Plan pursuant to Incentive Options; (iv) the maximum number
and/or class of securities for which any one person may be granted Common Stock denominated Awards
in the aggregate under the Plan per calendar year; (v) the number and/or class of securities and
the exercise or base price per share in effect under each outstanding option or stock appreciation
right; (vi) the number and/or class of securities subject to each outstanding Award under the Plan
and the cash consideration (if any) payable per share; and (vii) the number and/or class of
securities subject to the Corporation’s outstanding repurchase rights under the Plan and the
repurchase price payable per share. Such adjustments shall be made by the Compensation Committee
in such manner as it deems appropriate, and the adjustments shall be final, binding and conclusive
upon each person holding an Award under the Plan.

          G. Outstanding Awards granted pursuant to the Plan shall in no way affect the right
of the Corporation to adjust, reclassify, reorganize or otherwise change its capital or business
structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its
business or assets.

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ARTICLE TWO

DISCRETIONARY GRANT PROGRAM

     I. OPTION TERMS

          Each option shall be evidenced by one or more documents in the form approved by the Plan
Administrator; provided, however, that each such document shall comply with the terms specified
below. Each document evidencing an Incentive Option shall, in addition, be subject to the
provisions of the Plan applicable to such options.

          A. Exercise Price.

               1. The exercise price per share shall be fixed by the Plan Administrator; provided,
however, that such exercise price shall not be less than one hundred percent (100%) of the Fair
Market Value per share of Common Stock on the grant date.

               2. The exercise price shall become immediately due upon exercise of the option and
shall, subject to the provisions of the documents evidencing the option, be payable in one or more
of the forms specified below:

               (i) cash or check made payable to the Corporation,

               (ii) shares of Common Stock held for the requisite period (if any) necessary to
avoid any resulting charge to the Corporation’s earnings for financial reporting
purposes and valued at Fair Market Value on the Exercise Date, or

               (iii) to the extent the option is exercised for vested shares, through a
special sale and remittance procedure pursuant to which the Optionee shall
concurrently provide instructions to (a) a brokerage firm (reasonably satisfactory
to the Corporation for purposes of administering such procedure in compliance with
the Corporation’s pre-clearance/pre-notification policies) to effect the immediate
sale of the purchased shares and remit to the Corporation, out of the sale proceeds
available on the settlement date, sufficient funds to cover the aggregate exercise
price payable for the purchased shares plus all applicable income and employment
taxes required to be withheld by the Corporation by reason of such exercise and (b)
the Corporation to deliver the certificates for the purchased shares directly to
such brokerage firm on such settlement date in order to complete the sale.

          Except to the extent such sale and remittance procedure is utilized, payment of the exercise
price for the purchased shares must be made on the Exercise Date.

          B. Exercise and Term of Options. Each option shall be exercisable at such
time or times, during such period and for such number of shares as shall be determined by the Plan
Administrator and set forth in the documents evidencing the option. However, no option granted
under the Plan shall have a term in excess of ten (10) years measured from the option grant date.

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          C. Effect of Termination of Service.

               1. The following provisions shall govern the exercise of any options granted
pursuant to the Discretionary Grant Program that are outstanding at the time of the Optionee’s
cessation of Service or death:

               (i) Any option outstanding at the time of the Optionee’s cessation of Service
for any reason shall remain exercisable for such period of time thereafter as shall
be determined by the Plan Administrator and set forth in the documents evidencing
the option, but no such option shall be exercisable after the expiration of the
option term.

               (ii) Any option held by the Optionee at the time of the Optionee’s death may,
to the extent vested and exercisable at that time, be subsequently exercised by the
personal representative of the Optionee’s estate or by the person or persons to whom
the option is transferred pursuant to the Optionee’s will or the laws of inheritance
or by the Optionee’s designated beneficiary or beneficiaries of that option.

               (iii) Should the Optionee’s Service be terminated for Misconduct or should the
Optionee otherwise engage in Misconduct while holding one or more outstanding
options granted under this Article Two, then all of those options shall terminate
immediately and cease to be outstanding.

               (iv) During the applicable post-Service exercise period, the option may not be
exercised for more than the number of vested shares for which the option is at the
time exercisable. No additional shares shall vest under the option following the
Optionee’s cessation of Service, except to the extent (if any) specifically
authorized by the Plan Administrator in its sole discretion pursuant to an express
written agreement with the Optionee. Upon the expiration of the applicable exercise
period or (if earlier) upon the expiration of the option term, the option shall
terminate and cease to be outstanding for any shares for which the option has not
been exercised.

               2. The Plan Administrator shall have complete discretion, exercisable either at the
time an option is granted or at any time while the option remains outstanding, to:

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               (i) extend the period of time for which the option is to remain exercisable
following the Optionee’s cessation of Service from the limited exercise period
otherwise in effect for that option to such greater period of time as the Plan
Administrator shall deem appropriate, but in no event beyond the expiration of the
option term,

               (ii) include an automatic extension provision whereby the specified
post-Service exercise period in effect for any option granted under this Article Two
shall automatically be extended by an additional period of time equal in duration to
any interval within the specified post-Service exercise period during which the
exercise of that option or the immediate sale of the shares acquired under such
option could not be effected in compliance with applicable federal and state
securities laws, but in no event shall such an extension result in the continuation
of such option beyond the expiration date of the term of that option, and/or

               (iii) permit the option to be exercised, during the applicable post-Service
exercise period, not only with respect to the number of vested shares of Common
Stock for which such option is exercisable at the time of the Optionee’s cessation
of Service but also with respect to one or more additional installments in which the
Optionee would have vested had the Optionee continued in Service.

          D. Stockholder Rights. The holder of an option shall have no stockholder
rights with respect to the shares subject to the option until such person shall have exercised the
option, paid the exercise price and become a holder of record of the purchased shares.
Notwithstanding the foregoing, in the event the outstanding shares of Common Stock are split by
means of a stock dividend and the exercise price of and the number of shares subject to outstanding
options under the Plan are to be adjusted as of the date of the distribution of the dividend
(rather than as of the record date for such dividend), then an Optionee who exercises such an
option between the record date and the distribution date for that stock dividend shall be entitled
to receive, on the distribution date, the stock dividend with respect to the shares of Common Stock
acquired upon the exercise of such Option, notwithstanding the fact that such shares were not
outstanding as of the close of business on the record date for such stock dividend.

          E. Repurchase Rights. The Plan Administrator shall have the discretion to
grant options which are exercisable for unvested shares of Common Stock. Should the Optionee cease
Service while such shares are unvested, the Corporation shall have the right to repurchase any or
all of those unvested shares at a price per share equal to the lower of (i) the exercise price paid
per share or (ii) the Fair Market Value per share of Common Stock at the time of repurchase. The
terms upon which such repurchase right shall be exercisable (including the period and procedure for
exercise and the appropriate vesting schedule for the purchased shares) shall be established by the
Plan Administrator and set forth in the document evidencing such repurchase right.

          F. Transferability of Options. The transferability of options granted under
the Plan shall be governed by the following provisions:

               (i) Incentive Options: During the lifetime of the Optionee, Incentive Options shall
be exercisable only by the Optionee and shall not be assignable or transferable other than by will
or the laws of inheritance following the Optionee’s death.

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               (ii) Non-Statutory Options. Non-Statutory Options shall be subject to the same
limitation on transfer as Incentive Options, except that the Plan Administrator may structure one
or more Non-Statutory Options so that the option may be assigned in whole or in part during the
Optionee’s lifetime, by gift or pursuant to a domestic relations order, to one or more Family
Members of the Optionee or to a trust established exclusively for one or more such Family Members.
The assigned portion may only be exercised by the person or persons who acquire a proprietary
interest in the option pursuant to the assignment. The terms applicable to the assigned portion
shall be the same as those in effect for the option immediately prior to such assignment and shall
be set forth in such documents issued to the assignee as the Plan Administrator may deem
appropriate.

               (iii) Beneficiary Designations. Notwithstanding the foregoing, the Optionee may designate one
or more persons as the beneficiary or beneficiaries of his or her outstanding options under this
Article Two (whether Incentive Options or Non-Statutory Options), and those options shall, in
accordance with such designation, automatically be transferred to such beneficiary or beneficiaries
upon the Optionee’s death while holding those options. Such beneficiary or beneficiaries shall
take the transferred options subject to all the terms and conditions of the applicable agreement
evidencing each such transferred option, including (without limitation) the limited time period
during which the option may be exercised following the Optionee’s death.

          G. Incentive Options. The terms specified below shall be applicable to all
Incentive Options. Except as modified by the provisions of this Paragraph G, all the provisions of
Articles One, Two and Five shall be applicable to Incentive Options. Options which are
specifically designated as Non-Statutory Options when issued under the Plan shall not be subject to
the terms of this Paragraph G.

               1. Eligibility. Incentive Options may only be granted to Employees.

               2. Dollar Limitation. The aggregate Fair Market Value of the shares of
Common Stock (determined as of the respective date or dates of grant) for which one or more options
granted to any Employee under the Plan (or any other option plan of the Corporation or any Parent
or Subsidiary) may for the first time become exercisable as Incentive Options during any one
calendar year shall not exceed the sum of One Hundred Thousand Dollars ($100,000).

               To the extent the Employee holds two (2) or more such options which become exercisable for the
first time in the same calendar year, then for purposes of the foregoing limitations on the
exercisability of those options as Incentive Options, such options shall be deemed to become first
exercisable in that calendar year on the basis of the chronological order in which they were
granted, except to the extent otherwise provided under applicable law or regulation.

               3. 10% Stockholder. If any Employee to whom an Incentive Option is granted
is a 10% Stockholder, then the exercise price per share shall not be less than one hundred ten
percent (110%) of the Fair Market Value per share of Common Stock on the option grant date, and the
option term shall not exceed five (5) years measured from the option grant date.

     II. STOCK APPRECIATION RIGHTS

          A. Authority. The Plan Administrator shall have full power and authority,
exercisable in its sole discretion, to grant stock appreciation rights in accordance with this
Section II to selected Optionees under the Discretionary Grant Program.

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          B. Types. Two types of stock appreciation rights shall be authorized for
issuance under this Section III: (i) tandem stock appreciation rights (“Tandem Rights”) and (ii)
stand-alone stock appreciation rights (“Stand-alone Rights”).

          C. Tandem Rights. The following terms and conditions shall govern the grant
and exercise of Tandem Rights.

               1. One or more Optionees may be granted a Tandem Right, exercisable upon such terms
and conditions as the Plan Administrator may establish, to elect between the exercise of the
underlying option for shares of Common Stock or the surrender of that option in exchange for a
distribution from the Corporation in an amount equal to the excess of (i) the Fair Market Value (on
the option surrender date) of the number of shares in which the Optionee is at the time vested
under the surrendered option (or surrendered portion thereof) over (ii) the aggregate exercise
price payable for such vested shares.

               2. Any distribution to which the Optionee becomes entitled upon the exercise of a
Tandem Right may be made in (i) shares of Common Stock valued at Fair Market Value on the option
surrender date, (ii) cash or (iii) a combination of cash and shares of Common Stock, as specified
in the applicable Award agreement.

          D. Stand-Alone Rights. The following terms and conditions shall govern the
grant and exercise of Stand-alone Rights:

               1. One or more individuals eligible to participate in the Discretionary Grant
Program may be granted a Stand-alone Right not tied to any underlying option. The Stand-alone Right
shall relate to a specified number of shares of Common Stock and shall be exercisable upon such
terms and conditions as the Plan Administrator may establish. In no event, however, may the
Stand-alone Right have a maximum term in excess of ten (10) years measured from the grant date.
The provisions and limitations of Paragraphs C.1 and C.2 of Section I of this Article Two shall
also be applicable to any Stand-Alone Right awarded under the Plan.

               2. Upon exercise of the Stand-alone Right, the holder shall be entitled to receive a
distribution from the Corporation in an amount equal to the excess of (i) the aggregate Fair Market
Value (on the exercise date) of the shares of Common Stock underlying the exercised right over
(ii) the aggregate base price in effect for those shares.

               3. The number of shares of Common Stock underlying each Stand-alone Right and the
base price in effect for those shares shall be determined by the Plan Administrator in its sole
discretion at the time the Stand-alone Right is granted. In no event, however, may the base price
per share be less than the Fair Market Value per underlying share of Common Stock on the grant
date.

               4. Stand-alone Rights shall be subject to the same transferability restrictions
applicable to Non-Statutory Options and may not be transferred during the holder’s lifetime, except
for a gratuitous transfer to one or more Family Members of the holder or to a trust established for
the holder and/or one or more such Family Members or a transfer to one or more such Family Members
pursuant to a domestic relations order covering the Stand-alone Right as marital property. In
addition, one or more
beneficiaries may be designated for an outstanding Stand-alone Right in accordance with
substantially the same terms and provisions as set forth in Section I.F. of this Article Two.

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               5. The distribution with respect to an exercised Stand-alone Right may be made in
(i) shares of Common Stock valued at Fair Market Value on the exercise date, (ii) cash or (iii) a
combination of cash and shares of Common Stock, as specified in the applicable Award agreement.

               6. The holder of a Stand-alone Right shall have no stockholder rights with respect
to the shares subject to the Stand-alone Right unless and until such person shall have exercised
the Stand-alone Right and become a holder of record of the shares of Common Stock issued upon the
exercise of such Stand-alone Right.

          E. Post-Service Exercise. The provisions governing the exercise of Tandem
and Stand-alone Rights following the cessation of the recipient’s Service shall be substantially
the same as those set forth in Section I.C.1 of this Article Two for the options granted under the
Discretionary Grant Program, and the Plan Administrator’s discretionary authority under Section
I.C.2 of this Article Two shall also extend to any outstanding Tandem or Stand-alone Appreciation
Rights.

     III. CHANGE IN CONTROL

          A. In the event of a Change in Control, each outstanding option and stock
appreciation right may be (i) assumed by the successor corporation (or parent thereof) or otherwise
to continued in full force and effect pursuant to the terms of the Change in Control transaction or
(ii) replaced with a cash retention program of the successor corporation which preserves the spread
existing at the time of the Change in Control on any shares as to which the Award is not otherwise
at that time exercisable and provides for subsequent vesting and payout of that spread in
accordance with the same exercise/vesting schedule applicable to that Award, but only if such
replacement cash program would not result in treatment of the Award as an item of deferred
compensation subject to Code Section 409A. However, to the extent the Award is not to be so
assumed, continued or replace, the Award shall, immediately prior to the effective date of that
Change in Control, become exercisable as to all the shares of Common Stock at the time subject to
such Award and may be exercised as to any or all of those shares as fully vested shares of Common
Stock, except to the extent the acceleration of such Award is subject to other limitations imposed
by the Plan Administrator.

          B. All outstanding repurchase rights under the Discretionary Grant Program shall
automatically terminate, and the shares of Common Stock subject to those terminated rights shall
immediately vest in full, in the event of a Change in Control, except to the extent: (i) those
repurchase rights are to be assigned to the successor corporation (or parent thereof) or are
otherwise to continue in full force and effect pursuant to the terms of the Change in Control
transaction or (ii) such accelerated vesting is precluded by other limitations imposed by the Plan
Administrator.

          C. Immediately following the consummation of the Change in Control, all outstanding
options and stock appreciation rights under the Discretionary Grant Program shall terminate and
cease to be outstanding, except to the extent assumed by the successor corporation (or parent
thereof) or otherwise continued in full force and effect pursuant to the terms of the Change in
Control transaction.

          D. Each option or stock appreciation right which is assumed in connection with a
Change in Control or otherwise continued in effect shall be appropriately adjusted, immediately after such
Change in Control, to apply to the number and class of securities which would have been
issuable to the Optionee in consummation of such Change in Control had the Award been exercised
immediately prior to such Change in Control. Appropriate adjustments to reflect such Change in
Control shall also be made to

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(i) the exercise or base price payable per share under each
outstanding option, provided the aggregate exercise or base price payable for such securities shall
remain the same, (ii) the maximum number and/or class of securities available for issuance over the
remaining term of the Plan and (iii) the maximum number and/or class of securities for which any
one person may be granted Awards in the aggregate under the Plan per calendar year. To the extent
the actual holders of the Corporation’s outstanding Common Stock receive cash consideration for
their Common Stock in consummation of the Change in Control, the successor corporation may, in
connection with the assumption or continuation of the outstanding options or stock appreciation
rights under the Discretionary Grant Program, substitute one or more shares of its own common stock
with a fair market value equivalent to the cash consideration paid per share of Common Stock in
such Change in Control transaction.

          E. The Plan Administrator shall have the discretionary authority to structure one or
more outstanding options and stock appreciation rights under the Discretionary Grant Program so
that those Awards shall, immediately prior to the effective date of a Change in Control, become
exercisable as to all the shares of Common Stock at the time subject to those Awards and may be
exercised as to any or all of those shares as fully vested shares of Common Stock, whether or not
those options are to be assumed in the Change in Control transaction or otherwise continued in
effect. In addition, the Plan Administrator shall have the discretionary authority to structure
one or more of the Corporation’s repurchase rights under the Discretionary Grant Program so that
those rights shall immediately terminate upon the consummation of the Change in Control
transaction, and the shares subject to those terminated rights shall thereupon vest in full.

          F. The Plan Administrator shall have full power and authority to structure one or
more outstanding options and stock appreciation rights under the Discretionary Grant Program so
that those Awards shall become exercisable as to all the shares of Common Stock at the time subject
to those Awards in the event the Optionee’s Service is subsequently terminated by reason of an
Involuntary Termination within a designated period following the effective date of any Change in
Control transaction in which those Awards do not otherwise fully accelerate. In addition, the Plan
Administrator may structure one or more of the Corporation’s repurchase rights so that those rights
shall immediately terminate with respect to any shares held by the Optionee at the time of such
Involuntary Termination, and the shares subject to those terminated repurchase rights shall
accordingly vest in full at that time.

          G. The portion of any Incentive Option accelerated in connection with a Change in
Control shall remain exercisable as an Incentive Option only to the extent the applicable One
Hundred Thousand Dollar ($100,000) limitation is not exceeded. To the extent such dollar
limitation is exceeded, the accelerated portion of such option shall be exercisable as a
Non-statutory Option under the Federal tax laws.

     IV. PROHIBITION ON REPRICING PROGRAMS

          The Plan Administrator shall not (i) implement any cancellation/regrant program pursuant to
which outstanding options or stock appreciation rights under the Plan are cancelled and new options
or stock appreciation rights are granted in replacement with a lower exercise or base price per
share, (ii) cancel outstanding options or stock appreciation rights under the Plan with exercise or
base prices per share in excess of the then current Fair Market Value per share of Common Stock for
consideration payable in equity securities of the Corporation or (iii) otherwise directly reduce
the exercise or base price in effect for outstanding options under the Plan, without in each such
instance obtaining stockholder approval.

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     V. STOCK ISSUANCE TERMS

          A. Shares of Common Stock may also be issued under the Discretionary Grant Program,
either as vested or unvested shares, through direct and immediate issuances without any intervening
option grants and with or without cash consideration payable for the shares. Each such stock
issuance shall be evidenced by a Stock Issuance Agreement which complies with the terms specified
below. Shares of Common Stock may also be issued pursuant to performance shares or restricted
stock units which entitle the Participants to receive the shares underlying those Awards upon the
attainment of designated performance goals or the satisfaction of specified Service requirements or
upon the expiration of a designated time period following the vesting of those Awards. The terms
and conditions of each such Award (including, without limitation, the applicable vesting schedule
and vesting acceleration provisions) shall be determined by the Plan Administrator.

          B. The Plan Administrator shall also have the discretionary authority, consistent
with Code Section 162(m), to structure one or more restricted stock issuances or restricted stock
unit or performance share awards so that the shares of Common Stock subject to those Awards shall
vest (or vest and become issuable) upon the achievement of certain pre-established corporate
performance goals based on one or more of the following criteria: (1) return on total stockholder
equity; (2) earnings per share of Common Stock; (3) net income or operating income (before or after
taxes); (4) earnings before interest, taxes, depreciation and amortization; (5) earnings before
interest, taxes, depreciation, amortization and charges for stock-based compensation, (6) sales or
revenue targets; (7) return on assets, capital or investment; (8) cash flow; (9) market share; (10)
cost reduction goals; (11) budget comparisons; (12) measures of customer satisfaction; (13) any
combination of, or a specified increase in, any of the foregoing; (14) new product development or
successful completion of research and development projects; and (15) the formation of joint
ventures, research or development collaborations, or the completion of other corporate transactions
intended to enhance the Corporation’s revenue or profitability or enhance its customer base. In
addition, such performance goals may be based upon the attainment of specified levels of the
Corporation’s performance under one or more of the measures described above relative to the
performance of other entities and may also be based on the performance of any of the Corporation’s
business units or divisions or any Parent or Subsidiary. Performance goals may include a minimum
threshold level of performance below which no award will be earned, levels of performance at which
specified portions of an award will be earned and a maximum level of performance at which an award
will be fully earned.

          C. Any new, substituted or additional securities or other property (including money
paid other than as a regular cash dividend) which the Participant may have the right to receive
with respect to the Participant’s unvested shares of Common Stock by reason of any stock dividend,
stock split, recapitalization, combination of shares, exchange of shares, spin-off transaction,
extraordinary dividend or distribution or other change affecting the outstanding Common Stock as a
class without the Corporation’s receipt of consideration shall be issued subject to (i) the same
vesting requirements applicable to the Participant’s unvested shares of Common Stock and (ii) such
escrow arrangements as the Plan Administrator shall deem appropriate. Equitable adjustments to
reflect each such transaction shall also be made by the Plan Administrator to the repurchase price
payable per share by the Corporation
for any unvested securities subject to its existing repurchase rights under the Plan; provided
the aggregate repurchase price shall in each instance remain the same.

12

 

          D. The recipient shall have full stockholder rights with respect to any shares of
Common Stock issued to him or her under the Plan, whether or not the recipient’s interest in those
shares is vested. Accordingly, such individual shall have the right to vote such shares and to
receive any dividends paid on such shares, subject to any applicable vesting requirements. The
recipient shall not have any stockholder rights with respect to the shares of Common Stock subject
to a performance share or restricted stock unit until that Award vests and the shares of Common
Stock are actually issued thereunder. However, dividend-equivalent units may be paid or credited,
either in cash or in actual or phantom shares of Common Stock, on outstanding performance share or
restricted stock unit awards, subject to such terms and conditions as the Plan Administrator may
deem appropriate.

          E. Should the Participant cease to remain in Service while holding one or more
unvested shares of Common Stock issued under the Plan or should the performance objectives not be
attained with respect to one or more such unvested shares of Common Stock, then those shares shall
be immediately surrendered to the Corporation for cancellation, and the Participant shall have no
further stockholder rights with respect to those shares. To the extent the surrendered shares were
previously issued to the Participant for consideration paid in cash or cash equivalent, the
Corporation shall repay to the Participant the lower of (i) the cash consideration paid for the
surrendered shares or (ii) the Fair Market Value of those shares at the time of cancellation.

          F. The Plan Administrator may in its discretion waive the surrender and cancellation
of one or more unvested shares of Common Stock which would otherwise occur upon the cessation of
the recipient’s Service or the non-attainment of the performance objectives applicable to those
shares. Any such waiver shall result in the immediate vesting of the recipient’s interest in the
shares of Common Stock as to which the waiver applies. Such waiver may be effected at any time,
whether before or after the recipient’s cessation of Service or the attainment or non-attainment of
the applicable performance objectives. However, no vesting requirements tied to the attainment of
performance objectives may be waived with respect to shares which were intended at the time of
issuance to qualify as performance-based compensation under Code Section 162(m), except in
connection with a Change in Control.

          G. Outstanding Awards of performance shares or restricted stock units shall
automatically terminate, and no shares of Common Stock shall actually be issued in satisfaction of
those Awards, if the performance goals or Service requirements established for those Awards are not
attained or satisfied. The Plan Administrator, however, shall have the discretionary authority to
issue vested shares of Common Stock under one or more outstanding Awards of performance shares or
restricted stock units as to which the designated performance goals or Service requirements have
not been attained or satisfied. Any such waiver shall result in the immediate vesting of the
recipient’s interest in the shares of Common Stock as to which the waiver applies. However, no
vesting requirements tied to the attainment of performance objectives may be waived with respect to
Awards which were intended at the time of grant to qualify as performance-based compensation under
Code Section 162(m), except in connection with a Change in Control

          H. Each restricted stock, restricted stock units or performance share award
outstanding on the effective date of an actual Change in Control transaction may be (i) assumed by
the successor corporation (or parent thereof) or otherwise continued in full force and effect
pursuant to the
terms of the Change in Control transaction or (ii) replaced with a cash incentive program of
the successor corporation which preserves the Fair Market Value of the underlying shares of Common
Stock at the time of the Change in Control and provides for the subsequent vesting and payment of
that value in accordance

13

 

with the same vesting schedule in effect for those shares at the time of
such Change in Control. However, to the extent any such Award outstanding under the Plan on the
effective date of such Change in Control Transaction is not to be so assumed, continued or
replaced, that Award shall vest in full immediately prior to the effective date of the actual
Change in Control transaction and the shares of Common Stock underlying the portion of the Award
that vests on such accelerated basis shall be issued in accordance with the applicable Stock
Issuance Agreement, unless such accelerated vesting is precluded by other limitations imposed in
the Stock Issuance Agreement.

          I. Each such outstanding Award which is assumed in connection with a Change in
Control or otherwise continued in effect shall be adjusted immediately after the consummation of
that Change in Control so as to apply to the number and class of securities into which the shares
of Common Stock subject to that Award immediately prior to the Change in Control would have been
converted in consummation of such Change in Control had those shares actually been outstanding at
that time, and appropriate adjustments shall also be made to the cash consideration (if any)
payable per share thereunder, provided the aggregate amount of such cash consideration shall remain
the same. To the extent the actual holders of the Corporation’s outstanding Common Stock receive
cash consideration for their Common Stock in consummation of the Change in Control, the successor
corporation may, in connection with the assumption or continuation of the outstanding Awards and
with the consent of the Plan Administrator obtained prior to the Change in Control, substitute one
or more shares of its own common stock with a fair market value equivalent to the cash
consideration paid per share of Common Stock in such Change in Control transaction.

          J. The Plan Administrator shall have full power and authority to structure one or
more restricted stock or restricted stock unit or performance share awards under the Plan so that
those awards shall vest, and all the underlying shares shall become immediately issuable, upon the
effective date of a Change in Control transaction or in the event the individual’s Service is
terminated by reason of an Involuntary Termination within a designated period following the
effective date of the Change in Control transaction.

     VI. CASH INCENTIVE AWARDS AND DIVIDEND EQUIVALENT RIGHTS

          A. Cash Incentive Awards. The Plan Administrator shall have the discretionary
authority under the Plan to make cash bonus awards (“Cash Awards”) which are to vest in one or more
installments over the Participant’s continued Service with the Corporation or upon the attainment
of specified performance goals. Each such Cash Award shall be evidenced by one or more documents
in the form approved by the Plan Administrator; provided however, that each such document shall
comply with the terms specified below.

               1. The elements of the vesting schedule applicable to each Cash Award shall be
determined by the Plan Administrator and incorporated into the bonus award agreement.

               2. The Plan Administrator shall also have the discretionary authority, consistent
with Code Section 162(m), to structure one or more Cash Awards so that those Awards shall vest upon
the achievement of pre-established corporate performance objectives based upon one or more
Performance Goals measured over the performance period specified by the Plan Administrator at
the time of the Award.

14

 

               3. Outstanding Cash Awards shall automatically terminate, and no cash payment or
other consideration shall be due the holders of those Awards, if the performance goals or Service
requirements established for those Awards are not attained or satisfied. The Plan Administrator may
in its discretion waive the cancellation and termination of one or more unvested Cash Awards which
would otherwise occur upon the cessation of the Participant’s Service or the non-attainment of the
performance objectives applicable to those Awards. Any such waiver shall result in the immediate
vesting of the Participant’s interest in the Cash Award as to which the waiver applies. However,
no vesting requirements tied to the attainment of Performance Goals may be waived with respect to
Awards which were intended, at the time those Awards were made, to qualify as performance-based
compensation under Code Section 162(m), except in connection with a Change in Control.

               4. Cash Awards which become due and payable following the attainment of the
applicable performance goals or satisfaction of the applicable Service requirement (or the waiver
of such goals or Service requirement) may be paid in (i) cash, (ii) shares of Common Stock valued
at Fair Market Value on the payment date or (iii) a combination of cash and shares of Common Stock,
as set forth in the applicable Award Agreement.

          B. Dividend Equivalent Rights. The Plan Administrator shall have the
discretionary authority to grant dividend equivalent rights (“DER Awards”) under the Plan. Each
such DER Award shall be evidenced by one or more documents in the form approved by the Plan
Administrator; provided however, that each such document shall comply with the terms specified
below.

               1. The DER Awards may be made as stand-alone awards or in tandem with other Awards
made under the Plan. The term of each such DER Award shall be established by the Plan
Administrator at the time of grant, but no DER Award shall have a term in excess of ten (10) years.

               2. Each DER shall represent the right to receive the economic equivalent of each
dividend or distribution, whether paid in cash, securities or other property (other than shares of
Common Stock), which is made per issued and outstanding share of Common Stock during the term the
DER remains outstanding. A special account on the books of the Corporation shall be maintained for
each Participant to whom a DER Award is made, and that account shall, for each DER subject to the
Award, be credited with each dividend or distribution made per issued and outstanding share of
Common Stock during the term that DER remains outstanding.

               3. Payment of the amounts credited to such book account may be made to the
Participant either concurrently with the actual dividend or distribution made per issued and
outstanding share of Common Stock or upon the satisfaction of any applicable vesting schedule in
effect for the DER Award, or such payment may be deferred beyond the vesting date for a period
specified by the Plan Administrator at the time the DER Award is made or selected by the
Participant in accordance with the requirements of Code Section 409A.

               4. Payment may be paid in (i) cash, (ii) shares of Common Stock or (iii) a
combination of cash and shares of Common Stock, as set forth in the applicable Award Agreement. If
payment is to be made in the form of Common Stock, the number of shares of Common Stock into which
the cash dividend or distribution amounts are to be converted for purposes of the Participant’s
book
account may be based on the Fair Market Value per share of Common Stock on the date of
conversion, a prior date or an average of the Fair Market Value per share of Common Stock over a
designated period, as set forth in the applicable award agreement.

15

 

               5. The Plan Administrator shall also have the discretionary authority, consistent
with Code Section 162(m), to structure one or more DER Awards so that those Awards shall vest only
after the achievement of pre-established corporate performance objectives based upon one or more
Performance Goals measured over the performance period specified by the Plan Administrator at the
time the Award is made.

          C. Change in Control. The Plan Administrator shall have the discretionary
authority to structure one or more Cash Awards or DER Awards so that those Awards shall
automatically vest in whole or in part immediately prior to the effective date of an actual Change
in Control transaction or upon the subsequent termination of the Participant’s Service by reason of
an Involuntary Termination within a designated period following the effective date of such Change
in Control. The Plan Administrator’s authority under this Paragraph C shall also extend to any
Award intended to qualify as performance-based compensation under Code Section 162(m), even though
the actual vesting of that Award may result in the loss of performance-based status under Code
Section 162(m).

16

 

ARTICLE THREE

MISCELLANEOUS

     I. TAX WITHHOLDING

          A. The Corporation’s obligation to deliver shares of Common Stock upon the exercise,
vesting or issuance of an Award shall be subject to the satisfaction of all applicable income and
employment tax withholding requirements.

          B. The Plan Administrator may, in its discretion, provide one or more participants
in the Plan with the right to use shares of Common Stock in satisfaction of all or part of the
Withholding Taxes to which such participants may become subject in connection with the exercise,
vesting or issuance of those Awards. Such right may be provided to any such participant in either
or both of the following formats:

               Stock Withholding: The election to have the Corporation withhold, from the vested
shares of Common Stock otherwise issuable upon the exercise, vesting, issuance or settlement of
such Award, a portion of those shares with an aggregate Fair Market Value equal to the percentage
of the Withholding Taxes (not to exceed one hundred percent (100%)) designated by such person.

               Stock Delivery: The election to deliver to the Corporation, at the time the exercise,
vesting, issuance or settlement of such Award, one or more shares of Common Stock previously
acquired by such person (other than in connection with the option exercise or share vesting or
issuance triggering the Withholding Taxes) with an aggregate Fair Market Value equal to the
percentage of the Withholding Taxes (not to exceed one hundred percent (100%)) designated by such
person.

     II. SHARE ESCROW/LEGENDS

          Unvested shares may, in the Plan Administrator’s discretion, be held in escrow by the
Corporation until the Participant’s interest in such shares vests or may be issued directly to the
Participant with restrictive legends on the certificates evidencing those unvested shares.

     III. EFFECTIVE DATE AND TERM OF THE PLAN

          A. The Plan shall become effective on the Plan Effective Date.

17

 

          B. The Plan shall serve as the successor to the Predecessor Plan, and no further option
grants or restricted stock unit awards shall be made under the Predecessor Plan if this Plan is
approved by the stockholders at the 2010 Annual Meeting. Such stockholder approval shall not affect
the option grants and restricted stock unit awards outstanding under the Predecessor Plan at the
time of the 2010 Annual Meeting, and those option grants and restricted stock unit awards shall
continue in full force and effect in accordance with their terms. However, should any of those
options expire or terminate unexercised or any unvested restricted stock units be forfeited, the
shares of Common Stock subject to those options at the time of expiration or termination and the
shares subject to those forfeited restricted stock units shall be added to the share reserve of
this Plan in accordance with the provisions of Section V.B of Article I.

          C. The Plan shall terminate upon the earliest to occur of (i) May 12, 2020, (ii) the
date on which all shares available for issuance under the Plan shall have been issued as fully
vested shares or (iii) the termination of all outstanding Awards in connection with a Change in
Control. Should the Plan terminate on May 12, 2020, then all Awards outstanding at that time shall
continue to have force and effect in accordance with the provisions of the documents evidencing
such Awards.

     IV. AMENDMENT OF THE PLAN

          A. The Board shall have complete and exclusive power and authority to amend or
modify the Plan in any or all respects, except with regard to Article II, Section IV hereof.
However, no such amendment or modification shall adversely affect the rights and obligations with
respect to Awards at the time outstanding under the Plan unless the Optionee or Participant
consents to such amendment or modification. In addition, amendments to the Plan will be subject to
stockholder approval to the extent required under applicable law or regulation or pursuant to the
listing standards of the Stock Exchange on which the Common Stock is at the time primarily traded.

          B. Awards may be granted under the Plan that in involve shares of Common Stock in
excess of the number of shares then available for issuance under the Plan, provided no shares shall
actually be issued pursuant to those Awards until the number of shares of Common Stock available
for issuance under the Plan is sufficiently increased by stockholder approval of an amendment of
the Plan authorizing such increase. If stockholder approval is required and is not obtained within
twelve (12) months after the date the first excess Award is made against such contingent increase,
then any Awards granted on the basis of such excess shares shall terminate and cease to be
outstanding.

     V. USE OF PROCEEDS

          Any cash proceeds received by the Corporation from the sale of shares of Common Stock under
the Plan shall be used for general corporate purposes.

     VI. REGULATORY APPROVALS

          A. The implementation of the Plan, the granting of any Awards under the Plan and the
issuance of any shares of Common Stock under the Plan shall be subject to the Corporation’s
procurement of all approvals and permits required by regulatory authorities having jurisdiction
over the Plan, the Awards granted under it and the shares of Common Stock issued pursuant to it.

18

 

          B. No shares of Common Stock or other assets shall be issued or delivered under the
Plan unless and until there shall have been compliance with all applicable requirements of
applicable securities laws, including the filing and effectiveness of the Form S-8 registration statement
for the shares of Common Stock issuable under the Plan, and all applicable listing requirements of
any Stock Exchange on which Common Stock is then listed for trading.

     VII. NO EMPLOYMENT/SERVICE RIGHTS

          Nothing in the Plan shall confer upon the Optionee or Participant any right to continue in
Service for any period of specific duration or interfere with or otherwise restrict in any way the
rights of the Corporation (or any Parent or Subsidiary employing or retaining such person) or of
the Optionee or Participant, which rights are hereby expressly reserved by each, to terminate such
person’s Service at any time for any reason, with or without cause.

19

 

APPENDIX

          The following definitions shall be in effect under the Plan:

          A. Award shall mean any of the following awards authorized for issuance or grant under
the Plan: stock options, stock appreciation rights, direct stock issuances, restricted stock or
restricted stock unit awards, performance shares, cash incentive awards and dividend-equivalent
rights.

          B. Board shall mean the Corporation’s Board of Directors.

          C. Change in Control shall mean a change in ownership or control of the Corporation
effected through any of the following transactions:

          (i) a merger, consolidation or other reorganization approved by the
Corporation’s stockholders, unless securities representing more than fifty percent
(50%) of the total combined voting power of the voting securities of the successor
corporation are immediately thereafter beneficially owned, directly or indirectly
and in substantially the same proportion, by the persons who beneficially owned the
Corporation’s outstanding voting securities immediately prior to such transaction,

          (ii) a stockholder-approved sale, transfer or other disposition of all or
substantially all of the Corporation’s assets, or

          (iii) the closing of any transaction or series of related transactions pursuant
to which any person or any group of persons comprising a “group” within the meaning
of Rule 13d-5(b)(1) of the 1934 Act (other than the Corporation or a person that,
prior to such transaction or series of related transactions, directly or indirectly
controls, is controlled by or is under common control with, the Corporation) becomes
directly or indirectly the beneficial owner (within the meaning of Rule 13d-3 of the
1934 Act) of securities possessing (or convertible into or exercisable for
securities possessing) more than fifty percent (50%) of the total combined voting
power of the Corporation’s securities (as measured in terms of the power to vote
with respect to the election of Board members) outstanding immediately after the
consummation of such transaction or series of related transactions, whether such
transaction involves a direct issuance from the Corporation or the acquisition of
outstanding securities held by one or more of the Corporation’s existing
stockholders.

          D. Code shall mean the Internal Revenue Code of 1986, as amended.

          E. Common Stock shall mean the Corporation’s common stock.

          F. Compensation Committee shall mean the Compensation Committee of the Board comprised
of two (2) or more non-employee Board members.

          G. Corporation shall mean BioClinica, Inc., a Delaware corporation, and any corporate
successor to all or substantially all of the assets or voting stock of BioClinica, Inc. which has
by appropriate action assumed the Plan.

 

 

          H. Discretionary Grant Program shall mean the discretionary grant program in effect
under Article Two of the Plan pursuant to which Awards may be granted to one or more eligible
individuals.

          I. Employee shall mean an individual who is in the employ of the Corporation (or any
Parent or Subsidiary, whether now existing or subsequently established), subject to the control and
direction of the employer entity as to both the work to be performed and the manner and method of
performance.

          J. Exercise Date shall mean the date on which the Corporation shall have received
written notice of the option exercise.

          K. Fair Market Value per share of Common Stock on any relevant date shall be
determined in accordance with the following provisions:

          (i) If the Common Stock is at the time traded on the Nasdaq Global Market, then
the Fair Market Value shall be the closing selling price per share of Common Stock
at the close of regular hours trading (i.e., before after- hours trading begins) on
such Stock Exchange on the date in question, as such price is reported by the
National Association of Securities Dealers. If there is no closing selling price for
the Common Stock on the date in question, then the Fair Market Value shall be the
closing selling price on the last preceding date for which such quotation exists.

          (ii) If the Common Stock is at the time listed on any other Stock Exchange,
then the Fair Market Value shall be the closing selling price per share of Common
Stock at the close of regular hours trading (i.e., before after-hours trading
begins) on the date in question on the Stock Exchange determined by the Plan
Administrator to be the primary market for the Common Stock, as such price is
officially quoted in the composite tape of transactions on such exchange. If there
is no closing selling price for the Common Stock on the date in question, then the
Fair Market Value shall be the closing selling price on the last preceding date for
which such quotation exists.

          L. Family Member means, with respect to a particular Optionee or other Plan
participant, 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,
bother-in-law or sister-in-law.

          M. Incentive Option shall mean an option which satisfies the requirements of Code
Section 422.

          N. Involuntary Termination shall mean the termination of the Service of any individual
which occurs by reason of:

          (i) such individual’s involuntary dismissal or discharge by the Corporation (or
any Parent or Subsidiary) for reasons other than Misconduct, or

          (ii) such individual’s voluntary resignation following (A) a change in his or
her position with the Corporation (or any Parent or Subsidiary) which materially
reduces his or her duties and responsibilities or the level of management to which
he or she reports, (B) a reduction in his or her level of compensation (including
base salary,

 

 

fringe benefits and target bonus under any corporate-performance based bonus or
incentive programs) by more than fifteen percent (15%) or (C) a relocation of such
individual’s place of employment by more than fifty (50) miles, provided and only if
such change, reduction or relocation is effected by the Corporation (or any Parent
or Subsidiary) without the individual’s consent.

          O. Misconduct shall mean the commission of any act of fraud, embezzlement or
dishonesty by the Optionee, any unauthorized use or disclosure by such person of confidential
information or trade secrets of the Corporation (or any Parent or Subsidiary), or any other
intentional misconduct by such person adversely affecting the business or affairs of the
Corporation (or any Parent or Subsidiary) in a material manner. The foregoing definition shall not
in any way preclude or restrict the right of the Corporation (or any Parent or Subsidiary) to
discharge or dismiss any Optionee or other person in the Service of the Corporation (or any Parent
or Subsidiary) for any other acts or omissions, but such other acts or omissions shall not be
deemed, for purposes of the Plan, to constitute grounds for termination for Misconduct.

          P. 1934 Act shall mean the Securities Exchange Act of 1934, as amended.

          Q. Non-Statutory Option shall mean an option not intended to satisfy the requirements
of Code Section 422.

          R. Optionee shall mean any person to whom an option or stock appreciation right is
granted under the Discretionary Grant Program.

          S. Parent shall mean any corporation (other than the Corporation) in an unbroken chain
of corporations ending with the Corporation, provided each corporation in the unbroken chain (other
than the Corporation) owns, at the time of the determination, stock possessing fifty percent (50%)
or more of the total combined voting power of all classes of stock in one of the other corporations
in such chain.

          T. Participant shall mean any person who is issued (i) shares of Common Stock,
restricted stock units, performance shares or other stock-based awards under the Plan or (ii) Cash
or DER Awards under the Plan.

          U. Permanent Disability or Permanently Disabled shall mean the inability of the
Optionee to engage in any substantial gainful activity by reason of any medically determinable
physical or mental impairment expected to result in death or to be of continuous duration of twelve
(12) months or more.

          V. Plan shall mean the Corporation’s 2002 Stock Incentive Plan, as amended and
restated in this document.

          W. Plan Administrator shall mean the particular entity, whether the Compensation
Committee, the Board or the Secondary Board Committee, which is authorized to administer the
Discretionary Grant Program with respect to one or more classes of eligible persons, to the extent
such entity is carrying out its administrative functions under that program with respect to the
persons under its jurisdiction.

          X. Plan Effective Date shall mean the date on which the Plan is approved by the
Corporation’s stockholders.

 

 

          Y. Secondary Board Committee shall mean a committee of one or more Board members
appointed by the Board to administer the Discretionary Grant Program with respect to eligible
persons other than Section 16 Insiders.

          Z. Section 16 Insider shall mean an officer or director of the Corporation subject to
the short-swing profit liabilities of Section 16 of the 1934 Act.

          AA. Service shall mean the performance of services for the Corporation (or any Parent
or Subsidiary, whether now existing or subsequently established) by a person in the capacity of an
Employee, a non-employee member of the board of directors or a consultant or independent advisor,
except to the extent otherwise specifically provided in the documents evidencing the option grant
or stock issuance. For purposes of the Plan, a person shall be deemed to cease Service immediately
upon the occurrence of the either of the following events: (i) the person no longer performs
services in any of the foregoing capacities for the Corporation or any Parent or Subsidiary or (ii)
the entity for which the person is performing such services ceases to remain a Parent or Subsidiary
of the Corporation, even though such person may subsequently continue to perform services for that
entity. Service shall not be deemed to cease during a period of military leave, sick leave or other
personal leave approved by the Corporation; provided, however, that should such leave of absence
exceed three (3) months, then for purposes of determining the period within which an Incentive
Option may be exercised as such under the federal tax laws, the Optionee’s Service shall be deemed
to cease on the first day immediately following the expiration of such three (3)-month period,
unless Optionee is provided with the right to return to Service following such leave either by
statute or by written contract. Except to the extent otherwise required by law or expressly
authorized by the Plan Administrator or the Corporation’s written policy governing leaves of
absence, no Service credit shall be given for vesting purposes for any period the person is on a
leave of absence.

          BB. Stock Exchange shall mean the American Stock Exchange, the Nasdaq Global or Global
Select Market or the New York Stock Exchange.

          CC. Subsidiary shall mean any corporation (other than the Corporation) in an unbroken
chain of corporations beginning with the Corporation, provided each corporation (other than the
last corporation) in the unbroken chain owns, at the time of the determination, stock possessing
fifty percent (50%) or more of the total combined voting power of all classes of stock in one of
the other corporations in such chain.

          DD. 10% Stockholder shall mean the owner of stock (as determined under Code Section
424(d)) possessing more than ten percent (10%) of the total combined voting power of all classes of
stock of the Corporation (or any Parent or Subsidiary).

          EE. Withholding Taxes shall mean the applicable income and employment withholding
taxes to which the holder of an Award under the Plan may become subject in connection with the
grant, exercise, issuance, vesting or settlement of that Award.exv10w1

Exhibit 10.1

Execution Copy

AMENDMENT NO. 1 TO THE

SECURITYHOLDERS AND

REGISTRATION RIGHTS AGREEMENT

               This AMENDMENT NO. 1, dated as of August 5, 2010 (this “Amendment No. 1”), to the
SECURITYHOLDERS AND REGISTRATION RIGHTS AGREEMENT, dated as of July 19, 2007 (the
“Agreement”) by and between Doral Holdings Delaware, LLC, a Delaware limited liability
company (“Holdings”) and Doral Financial Corporation, a corporation organized under the
laws of the Commonwealth of Puerto Rico (the “Company”).

               WHEREAS, pursuant to a stock purchase agreement, dated as of April 19, 2010, by and among the
Company and the purchasers named therein (the “Stock Purchase Agreement”), the Company sold
(the “Offering”) $180 million of the Company’s Mandatory Convertible Non-Cumulative
Non-Voting Convertible Preferred Stock, $1.00 par value and $1,000 liquidation preference per share
(the “Preferred Stock”), which shares of Preferred Stock are mandatorily convertible into
shares of common stock of the Company (the “Common Stock”) at an initial conversion price
of $4.75 per share;

               WHEREAS, in connection with the Offering, the Company, Holdings, Doral Holdings, L.P. and
Doral GP Ltd. entered into a cooperation agreement, dated as of April 19, 2010 (the
“Cooperation Agreement”), pursuant to which, among other things, Holdings, Doral Holdings,
L.P. and Doral GP Ltd. agreed that, subject to the occurrence of certain events, Holdings and Doral
Holdings, L.P. will be dissolved and their assets distributed to their investors (the
“Dissolution”); and

               WHEREAS, pursuant to the Cooperation Agreement, the Company and Holdings have agreed to enter
into this Amendment No. 1 to address, among other things, the Dissolution and the registration of
shares of Common Stock currently held by Holdings on a registration statement to be filed by the
Company relating to (among other things) the shares of Common Stock issuable upon conversion of the
Preferred Stock (the “Resale Registration Statement”).

               NOW, THEREFORE, in consideration of the premises and of the mutual covenants and obligations
hereinafter set forth, the parties hereto hereby agree as follows:

ARTICLE I

DEFINITIONS

               Section 1.1. Certain Defined Terms. Unless otherwise specifically defined herein, each capitalized term used but not defined
herein shall have the meaning assigned to such term in the Agreement.

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ARTICLE II

AMENDMENT TO AGREEMENT

               Section 2.1. Addition of Section 4.12. A new Section 4.12 shall be added to the Agreement as follows:

               Section 4.12 Registration of Common Stock on the Resale Registration Statement;
Assignment.

               (a) The Company will include all Registrable Securities (as defined in the Stock Purchase
Agreement) (or such lesser amount as is requested by Holdings) in the Resale Registration Statement
to allow for resale of such shares by the direct or indirect investors in Holdings that receive
such shares in the Dissolution (the “Holdings Investors”); provided that the use by
the Holdings Investors of the Resale Registration Statement will be subject to the terms and
conditions set forth in Section 5 of the Stock Purchase Agreement, including the Company’s ability
to suspend its use of the Resale Registration Statement in accordance with the last paragraph of
Section 5.1 of the Stock Purchase Agreement. Each Holdings Investor that includes shares of Common
Stock in the Resale Registration Statement will be entitled to the benefit of all rights and
privileges of Holders (as defined in the Stock Purchase Agreement) set forth in Section 5 of the
Stock Purchase Agreement; provided, however, that, with respect to any shares included in
the Resale Registration Statement by or on behalf of any Holdings Investor, clause (ii) of the
definition of “Registrable Securities” contained in Section 5.1(a) of the Stock Purchase Agreement
shall be deemed to read “on and after the two-year anniversary of the Closing Date or, if none, the
Funding Date.” The provisions of this Section 4.12 shall not apply to any subsequent registration
under this Agreement, with respect to which the other provisions of this Agreement shall control.

               (b) The Company agrees that the Holdings Investors are intended to be direct beneficiaries of
this Section 4.12 and are entitled to enforce this Section 4.12 directly. The Company will enter
into such additional instruments as are reasonably requested by Holdings to effect the grant to the
Holdings Investors of all rights of Purchasers under Section 5 of the Stock Purchase Agreement,
assign the benefits of this Section 4.12 to such investors and facilitate the inclusion by such
investors of such shares in the Resale Registration Statement.

               Section 2.2. Amendment of Section 5.4. Section 5.4 is hereby amended by adding “who
have executed the Joinder attached to this Agreement as Exhibit A” at the end of “by the Holders of
a majority of the aggregate number of Registrable Shares then held by all Holders” in clause (ii)
of the first sentence and in the second sentence.

               Section 2.3. Amendment of Section 5.7. Section 5.7 is hereby amended by adding the following sentence at the end thereof:

               Clause (x) of the preceding sentence may be satisfied by (without limitation) delivery to the
Company by Holdings or the Holders’ Representative of a list of all Holdings

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Investors, and any
such Holdings Investor may at any time thereafter deliver the instrument required by clause (y) of
the preceding sentence.

               Section 2.4. Addition of Section 5.12. A new Section 5.12 shall be added to the Agreement as follows:

               Section 5.12 Action by Holdings or the Holders’ Representative Following Dissolution.
Following the consummation of the Dissolution, any action that would have been taken by Holdings or
the Holders’ Representative under this Agreement shall be taken by, at the option of Holdings,
either: (i) Irving Place Capital, as the initial identified designee of Holdings (or any other
Holder subsequently identified by such initial or subsequent designee) rather than by Holdings;
provided that in no event shall there be more than one designee of Holdings at any time;
provided further that if Holdings has elected to rely on this clause (i), then at
any time after such election and the dissolution of Holdings, the applicable designee may elect for
clause (ii) of this Section 5.12 to apply instead of this clause (i); or (ii) the holders of a
majority of the Registrable Securities who have executed the Joinder attached to this Agreement as
Exhibit A.

ARTICLE III

MISCELLANEOUS

               Section 3.1. Continuing Effect; No Other Waivers or Amendments. Except as modified by
this Amendment No. 1, the Agreement and all the covenants, agreements, terms, provisions and
conditions thereof shall remain unchanged and in full force and effect.

               Section 3.2. Counterparts; Execution by Facsimile Signature. This Amendment No. 1 may
be executed in any number of counterparts, each of which shall be an original, but all of which
together shall constitute one instrument. This Amendment No. 1 may be executed by facsimile
signature(s).

               Section 3.3. Governing Law. This Amendment No. 1 shall be governed in all respects by
the laws of the State of New York, except to the extent required by mandatory provisions of the
PRGCL.

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               IN WITNESS WHEREOF, the parties hereto have executed this Amendment No. 1 as of the date first
written above.

	 	 	 	 	 
	 	DORAL FINANCIAL CORPORATION

 	 
	 	By:  	/s/ Enrique R. Ubarri
 	 
	 	 	Name:  	Enrique R. Ubarri 	 
	 	 	Title:  	Executive Vice President and General Counsel 	 
	 
	 	DORAL HOLDINGS DELAWARE, LLC

 	 
	 	By:  	Doral Holdings L.P., its Managing Member
 	 
	 
	 	By:  	                       Doral GP Ltd., its General Partner
 	 
	 
	 	By:  	                         /s/ David E. King
 	 
	 	 	Name:  	David E. King 	 
	 	 	Title:  	Director 	 
	 

[Amendment No. 1 Signature Page]

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