Document:

First Amendment to Lease

 Exhibit 10.1 
 FIRST AMENDMENT TO LEASE 
 THIS FIRST AMENDMENT TO LEASE is executed effective
May 1, 2011 by and between St. Paul Fire and Marine Insurance Company, a Connecticut corporation (“Landlord”), and Planar Systems, Inc., an Oregon corporation (“Tenant”). 

RECITALS 
  

	 	A.	Landlord and Tenant are parties to that certain Lease dated December 27, 2006 (the “Lease”). Pursuant to the Lease, Tenant is leasing Premises located at
7210 NW Evergreen Parkway in Hillsboro, Oregon. Such Premises consists of approximately 61,309 rentable square feet. The defined, capitalized terms used in the Lease shall have the same meanings when used herein. 

 

	 	B.	Landlord and Tenant desire to amend the Lease as set forth in this Amendment. 

 NOW, THEREFORE, it is agreed as follows. 
  

	 	1.	Lease Term. The Lease Term is hereby extended for forty-nine (49) months on the terms and conditions set forth in the Lease, as modified by this Amendment.
The Term shall expire September 30, 2016. 

  

	 	2.	Base Rent. Commencing May 1, 2011, and continuing through the previously scheduled expiration and through the forty-nine (49) months extension period,
Base Rent shall be as follows, calculated at the initial rate of $9.75 per rentable square feet, then escalated 2.5% annually. 

  

			
	 Months
	  	 Monthly Amount

	   1 – 12
	  	$49,813.56
	 13 – 24
	  	$51,058.90
	 25 – 36
	  	$52,335.37
	 37 – 48
	  	$53,643.76
	 49 – 60
	  	$54,984.85
	 61 – 65
	  	$56,359.47

  

	 	3.	Cash Allowance. Tenant desires to install additional Tenant Improvements (as defined in Section 3 of the Lease). The Tenant Improvements will be installed
in accordance with Tenant Improvement Plans and otherwise in accordance with Section 3 of the Lease; provided, the Improvement Allowance to reimburse the Tenant Improvement Costs shall be $8.00 per rentable square foot ($490,472.00). Any
portion of the Improvement Allowance not used for Tenant Improvement Costs may be used by Tenant as a credit against rent that is due on or before May 1, 2012; any amount not used for Tenant Improvement Costs or rent before May 1, 2012
will be retained by Landlord. Landlord will not charge a fee for construction administration or oversight regarding the Tenant Improvements. 

	 	4.	Option to Extend. Tenant shall have a single option to extend the Term for a sixty (60) month period commencing October 1, 2016 upon no less than nine
(9) months notice. This option is otherwise granted on the terms of Section 4.5 of the Lease. This option is the only extension or renewal option of the Tenant and Tenant no longer has a separate renewal or extension right pursuant to
Section 4.4 or Section 4.5 of the Lease. 

  

	 	5.	Trash/Recycling Area. Tenant shall be allowed to retain its trash and recycling bins and storage area in the parking lot between 7210 NW Evergreen and the
neighbor’s property through August 31, 2012. At which time, Tenant may relocate its trash and recycling bins and storage area in the parking lot near Tenant’s warehouse and receiving area provided the new location is entirely on the
same tax lot as the Premises. Tenant shall pay the costs to relocate its trash and recycling bins and storage area and the cost or removing the same at the end of its Lease or any extension thereof, if required by Landlord. 

 

	 	6.	Acknowledgement. Tenant acknowledges and agrees that Landlord and all predecessor lessors have fully and timely performed each and all of their obligations under
the Lease. 

  

	 	7.	Effect of Amendment. Submission of this Amendment for review does not constitute an offer by Landlord to Tenant. This document may not be relied upon, nor may
any claim for reliance or estoppels be made based upon this document, unless and until this document is fully executed and delivered by each party. 

  

	 	8.	Representations. Tenant hereby represents and warrants to Landlord that (a) this Amendment constitutes the binding obligation of Tenant and is enforceable
against the Tenant in accordance with its terms, (b) Tenant has not made any assignment, sublease, transfer, conveyance or other disposition of its interest in the Lease or in the Premises (including assignments for security purposes),
(c) no consent of any third party is necessary for Tenant to execute, deliver and perform this Amendment, and (d) Tenant has dealt with no broker regarding this Amendment other than Cushman & Wakefield (representing Landlord) and
Cresa Partners (representing Tenant). The person executing this Amendment on behalf of Tenant warrants his or her authority to do so. 

  

	 	9.	Counterparts. This Amendment may be executed and delivered in counterparts; delivery by facsimile or pdf is sufficient. 

 

	 	10.	Status of Lease. Except as expressly amended hereby the Lease remains in full force and effect and is hereby ratified and confirmed. 

[Signature page to follow] 

 IN WITNESS WHEREOF, this Amendment has been executed as of the date first above written.

  

									
		 	LANDLORD:	 		 	St. Paul Fire and Marine Insurance Company,
				
		 		 		 	a Connecticut corporation
					
		 		 		 	By:	 	  

					
		 		 		 	Name:	 	  

					
		 		 		 	Its:	 	  

				
		 	 TENANT:
	 		 	Planar Systems, Inc., an Oregon corporation
					
		 		 		 	By:	 	  

					
		 		 		 	Name:	 	  

					
		 		 		 	Its:Angiodynamics, Inc. Fiscal Year 2011 Senior Executive Cash Incentive Program

 Exhibit 10.27 
 

 
 FY2011 Sr. Executive Incentive Compensation Program 

PURPOSE 
 AngioDynamics is
committed to providing competitive cash compensation and benefit programs to all levels of employees. For those in leadership positions, a performance-based Sr. Executive Cash Incentive Compensation Program (SEICP) is provided in addition to
competitive base salaries. Under the SEICP, AngioDynamics pays an incentive annually based on the achievement of corporate and individual financial objectives as well as non-financial objectives for some participants. 

Objectives for the SEICP at AngioDynamics include: 
  

	 	•	 	 Build a strong relationship between incentive pay and company performance 

 

	 	•	 	 Align leadership behavior and results to goals that drive organization success 

 

	 	•	 	 Attract, reward and retain leadership talent, while discouraging a sense of “entitlement” 

 

	 	•	 	 Offer “upside” reward potential when AngioDynamics’ targeted results are exceeded 

 

	 	•	 	 Inspire investor confidence by ensuring that pay governance processes are measured, transparent and aligned with AngioDynamics financial success

 ELIGIBILITY 
 Only members of the AngioDynamics Global Leadership Team are eligible to participate in the SEICP. Participation in the SEICP must be approved by the CEO and the Compensation Committee of the Board of
Directors. 
 TARGET INCENTIVE LEVELS 
 The target cash incentive bonus will typically be targeted to the following schedule, while considering a person’s job title, overall scope of responsibility, and current compensation package.

  

			
	 Title/Position
	  	 Standard Incentive Levels

	 President/CEO
	  	80% of base salary
	 Executive Vice President/CFO
	  	60% of base salary
	 Sr. Vice President/GM
	  	55% of base salary
	 Sr. Vice President/GM International, CTO
	  	45% of base salary
	 Sr. Vice President’s NBD, Ops
	  	40% of base salary
	 Vice President QA/RA/CR
	  	30% of base salary

 These target incentives levels are reviewed annually by the Compensation Committee and changes are generally effective
June 1, the beginning of the fiscal year. Any change to a participant’s total annual SEICP target requires the approval of the CEO and the Compensation Committee of the Board of Directors. 

PROGRAM COMPONENTS 
 This is an
annual incentive compensation program, such that any amounts earned under the program are paid following completion of the annual financial audit of the Corporation and upon the approval of the Compensation Committee or the Board of
Directors, as may be required. 

 There are two components to the AngioDynamics SEICP program: 

Corporate Financial Objectives 

80% of the participant’s total target incentive opportunity is based on the achievement of the Total Company Sales and Operating Income
Targets or, in the case of executives with primary responsibility for a Division or Segment, the achievement of the Divisional or Segment Sales and Operating Income Targets. (The Financial Objectives). Each Financial Objective represents one-half
(or 40%) of the target incentive opportunity. 
 Payouts for the achievement of the Financial Objectives are governed by the following:

  

	 	1.	No incentive for either Financial Objective is earned unless at least 93% of the Total Company Operating Income Target has been achieved. 

 

	 	2.	Upon the achievement of 95% of the Net Sales Target, incentive is earned and the payout is 50% of the incentive opportunity. Upon the achievement of 93% of the
Operating Income Target, incentive is earned and the payout is 50% of the incentive opportunity. 

  

	 	3.	The payout is prorated such that at 100% achievement of the Financial Objective, the payout is 100% of the incentive opportunity. 

 

	 	4.	For achievement of the Net Sales Target above 100%, the payout is prorated such that 150% is paid for 105% achievement. 

 

	 	5.	For achievement of the Operating Income Target above 100%, the payout is prorated such that 150% is paid for 120% achievement. 

 

	 	6.	The maximum possible payout for the achievement of a Financial Objective (Sales or Operating Income) is 150% of the incentive opportunity. 

The Financial Objectives (Sales and Operating Income Targets) on which incentive compensation is determined are those approved by the Board of Directors
in the Company’s Annual Business Planning Process. Possible exceptions can be granted by the Compensation Committee at any point during the fiscal year. Exceptions can be recommended by the CEO as well as the Compensation Committee. The
approved fiscal 2011 Financial Objectives for AngioDynamics and its U.S. and International Divisions are shown in the attached schedules. 

Individual Objectives 
 Also known
as MBO’s (Management by Objectives), this component will constitute the remaining 20% of the employees’ total target incentive each year. The MBO segment of the incentive will be calculated and any earned payment is made following
the completion of fiscal year-end audit. 
 1) Each SEICP participant shall complete the appropriate MBO form, incorporating the
appropriate goals and objectives such that the weight of all objectives totals 100%. The guideline is to have a total of 3-4 MBO’s. Certain MBO’s can be shared between all leadership team members. 

 When developing objectives, the following criteria must be followed: 

All objectives need to have the following elements:
 Specific | Measurable | Actionable | Relevant | Time bound 
 Well-formulated objectives should:

  

	 	•	 	 be supportive of overall company goals 

  

	 	•	 	 benefit the company and stakeholders 

  

	 	•	 	 include target dates for beginning and completing 

  

	 	•	 	 be within the individual’s ability achieve/influence 

 Overachievement of MBO’s is generally not possible, unless a specific metric for over-/under achievement has been approved by the Compensation Committee. 

MBO’s should be reviewed and approved by the CEO. The CEO’s MBO’s are approved by the chairman of the Compensation Committee and the
chairman of the Board of Directors. The MBO forms are administered by the HR department. 
 At the end of the fiscal year, each participant is
responsible for summarizing in specific, measured terms the completion status of each objective on the MBO form. This form will be reviewed and approved during the annual performance review of the participant. All final forms must be approved by and
then forwarded to HR. 
 Payment for any earned MBO incentive will occur at the end of the fiscal year, after completion of the financial audit,
and the release of our results to the general public and upon the approval of the Compensation Committee. 
 PLAN ADMINISTRATION

 This plan is not intended and shall not be construed to create or imply a guarantee of employment for any specified period of time.
Nothing in this Plan should modify, limit or restrict the standard terms and conditions governing the employment relationship between AngioDynamics and the Plan Participant. 
 The administration of the Plan and the responsibility for carrying out and interpreting its provisions shall be the responsibility of the Human Resources management. In the case of disputes regarding this
Plan or the interpretation of this Plan, the decisions of the VP—Human Resources and CEO will be final. 
 AngioDynamics, at its sole
discretion, retains the right to amend the Plan in whole or in part at any time. Amendments must be stated in writing and are binding. Normally, amendments are intended to be prospective in nature; however, AngioDynamics reserves the right to make
retroactive changes. 
 The following criteria will apply to participation and payments: 

 

	 	1.	Participation in the plan commences on the first fiscal quarter following hire date. 

 

	 	2.	Employees who change roles within the period must revise non-financial objectives and obtain appropriate approvals within 30 days of the change in position or
responsibilities. 

  

	 	3.	During an approved leave of absence the SEICP may be prorated. 

	 	4.	If a participant dies or becomes totally disabled (as defined in the Company’s disability Plan), the Participant will be eligible to receive a pro-rated payment
for the non-financial portion based on the individual’s accomplishment as of the termination or disability date. 

  

	 	5.	Employees must be in good standing (as defined by the AngioDynamics employee handbook) for the entire year for which the incentive is being paid. Receipt of a written
warning, a performance plan of action, or other disciplinary action may nullify an employees’ incentive opportunity. 

  

	 	6.	To be eligible for payment of any incentive earned under this program, employees must be considered “Active” at the time the incentive payment is actually
made and not have resigned or given notice of resignation prior to the payment date. 

  

	 	7.	In the event of a restatement of the Company’s financial results for any year in the 3 prior fiscal years following the payment of incentive compensation, the
Company reserves the right to claim back from the Participant any incentive compensation paid for Financial Objectives that would otherwise not have been earned as a result of the restated financial results. 

After the completion of a fiscal year the compensation committee will meet and approve the actual payout levels of the executive cash bonus. This will
only be after closing of the financial books of the company, as well as after completion of the annual performance appraisal for individual executives as performed by the CEO. The CEO will recommend an actual individual payout based on attainment of
financial objectives as well as individual MBO’s.

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