Document:

exv10w1

 

Exhibit 10.1

AMENDED AND RESTATED

SYNERGETICS USA, INC.

2001 STOCK PLAN

     1. Purposes of the Plan. The purposes of this Stock Plan are to attract and retain
the best available personnel for positions of substantial responsibility, to provide additional
incentive to Employees, Non-Employee members of the Board of Directors and Consultants (sometimes
referred to herein as “Participants”) of the Company and its Subsidiaries and to promote the
success of the Company’s business.

     2. Certain Definitions. As used herein, the following definitions shall apply:

          (a) “Award” or “Awards,” except where referring to a particular
category of grant under the Plan, shall include Incentive Stock Options, Nonstatutory Stock
Options, Restricted Stock Awards and Stock Awards.

          (b) “Board” means the Board of Directors of the Company.

          (c) “Code” means the Internal Revenue Code of 1986, as amended, including
any successor law thereto.

          (d) “Committee” means any Committee appointed by the Board of Directors in
accordance with Section 4 of the Plan.

          (e) “Common Stock” means the Common Stock, $0.001 par value per share, of
the Company.

          (f) “Company” means Synergetics USA, Inc., a Delaware corporation.

          (g) “Consultant” means any person, including an advisor, including a
Non-Employee Director, who is engaged by the Company or any Parent or Subsidiary to render
services.

          (h) “Continuous Status as an Employee” means the absence of any interruption
or termination of the employment relationship by the Company or any Subsidiary. Continuous Status
as an Employee shall not be considered interrupted in the case of: (i) sick leave; (ii) military
leave; (iii) any other leave of absence approved by the Board, provided that such leave is for a
period of not more than ninety (90) days, unless re-employment upon the expiration of such leave is
guaranteed by contract or statute, or unless provided otherwise pursuant to Company policy adopted
from time to time; or (iv) transfers between locations of the Company or between the Company, its
Subsidiaries or its successor.

          (i) “Employee” means any person, including officers and Directors, employed
by the Company or any Parent or Subsidiary of the Company.

          (j) “Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

 

          (k) “Fair Market Value” means: (i) if the Common Stock is traded in the
over-the-counter market and bid and ask prices are reported by a nationally recognized service, the
Fair Market Value on any given date shall be the average of the highest bid and lowest asked prices
of the Common Stock reported for such date or, if no bid and asked prices were reported for such
date, for the last day preceding such date for which such prices were reported; or (ii) if the
Common Stock is admitted to trading on a United States securities exchange, the NASDAQ National
Market or the NASDAQ Capital Market, the Fair Market Value on any date shall be the closing price
reported for the Common Stock on such exchange or system for such date or, if no sales were
reported for such date, for the last day preceding such date for which a sale was reported; and
(iiii) in the absence of an established market for the Common Stock, the Fair Market Value thereof
shall be determined in good faith by the Plan Administrator.

          (l) “Incentive Stock Option” means an Option intended to qualify as an
incentive stock option within the meaning of Section 422 of the Code.

          (m) “Nonstatutory Stock Option” means an Option not intended to qualify as
an Incentive Stock Option.

          (n) “Option” means a stock option granted pursuant to the Plan.

          (o) “Optioned Stock” means the Common Stock subject to an Option.

          (p) “Optionee” means an Employee or Consultant who receives an Option.

          (q) “Parent” means a “parent corporation,” whether now or hereafter
existing, as defined in Section 424(e) of the Code.

          (r) “Plan” means this Amended and Restated Synergetics USA, Inc. 2001 Stock
Plan.

          (s) “Plan Administrator” means the Board or any of its Committees appointed
pursuant to Section 4 of the Plan.

          (t) “Restricted Stock” means shares of Common Stock acquired pursuant to a
Restricted Stock Award under Section 12 below.

          (u) “Restricted Stock Award” means any Award granted pursuant to Section 12
of the Plan.

          (v) “Share” means a share of the Common Stock, as may be adjusted from time
to time in accordance with Section 15 of the Plan.

          (w) “Stock Award” means any award granted pursuant to Section 13 of the
Plan.

          (x) “Subsidiary” means a “subsidiary corporation,” whether now or hereafter
existing, as defined in Section 424(f) of the Code.

          (y) “Termination for Cause” shall include, but not be limited to, a finding
by the Board of the Participant’s: (i) performance of duties in an incompetent manner; (ii)
commission of any act of fraud, insubordination, misappropriation or personal dishonesty relating
to or involving the
Company in any material way; (iii) gross negligence; (iv) violation of any express direction
of the Company or any material violation of any rule, regulation, policy or plan established by the
Company

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from time to time regarding the conduct of its employees or its business; (v) violation of
any obligation of Participant’s consulting relationship or Continuous Status as an Employee with
the Company that is demonstrably willful and deliberate on the Participant’s part; (vi) disclosure
or use of confidential information of the Company, other than as required in the performance of the
Participant’s duties; (vii) actions that are clearly contrary to the best interest of the Company;
(viii) conviction of a crime constituting a felony or any other crime involving moral turpitude, or
no conviction, but the substantial weight of credible evidence indicates that the Participant has
committed such a crime; or (ix) the Participant’s use of alcohol or any unlawful controlled
substance to an extent that it interferes with the performance of the Participant’s duties.

     3. Stock Subject to the Plan. Subject to the provisions of Section 15 of the Plan,
the maximum number of shares of Common Stock that may be issued under the Plan shall be One Million
Three Hundred Forty Five Thousand (1,345,000) shares. The shares of Common Stock underlying any
Awards which are forfeited, canceled, reacquired by the Company, satisfied without the issuance of
Common Stock or otherwise terminated (other than by exercise) shall be added back to the number of
shares of Common Stock available for issuance under the Plan. Notwithstanding the foregoing,
Options with respect to no more than One Hundred Thousand (100,000) shares of Common Stock may be
granted to any one individual Participant during any one (1) calendar year period. Common Stock to
be issued under the Plan may be either authorized and unissued shares or shares held in treasury by
the Company.

     4. Administration of the Plan. The Plan shall be administered by: (i) the full Board;
or (ii) a committee of the Board comprised of two or more “Non-Employee Directors” within the
meaning of Rule 16b-3(b)(3) promulgated under the Exchange Act. Subject to the provisions of the
Plan, the Plan Administrator is authorized to:

	 	(a)	 	construe the Plan and any Award under the Plan;
	 
	 	(b)	 	select the Officers, Employees and Consultants of the Company
and its Subsidiaries to whom Awards may be granted;
	 
	 	(c)	 	determine the number of shares of Common Stock to be covered by
any Award;
	 
	 	(d)	 	determine and modify from time to time the terms and
conditions, including restrictions, of any Award and to approve the form of
written instrument evidencing Awards;
	 
	 	(e)	 	accelerate at any time the exercisability or vesting of all or
any portion of any Award and/or to include provisions in awards providing for
such acceleration;
	 
	 	(f)	 	impose limitations on Awards, including limitations on transfer
and repurchase provisions;
	 
	 	(g)	 	extend the exercise period within which Options may be exercised; and
	 
	 	(h)	 	determine at any time whether, to what extent, and under what
circumstances Common Stock and other amounts payable with respect to an Award
shall be deferred either automatically or at the election of the Participant
and whether and to what extent the Company shall pay or credit amounts
constituting interest (at rates determined by the Plan Administrator) or
dividends or deemed dividends on such deferrals.

     The determination of the Plan Administrator on any such matters shall be conclusive.

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     5. Delegation of Authority to Grant Awards. The Plan Administrator, in its
discretion, may delegate to the Chief Executive Officer of the Company all or part of the Plan
Administrator’s authority and duties with respect to granting Awards to individuals who are not
subject to the reporting provisions of Section 16 of the Act or “covered employees” within the
meaning of Section 162(m) of the Code. The Plan Administrator may revoke or amend the terms of
such a delegation at any time, but such revocation shall not invalidate prior actions of the Chief
Executive Officer that were consistent with the terms of the Plan.

     6. Eligibility.

          (a) Officers, Employees and Consultants of the Company or its Subsidiaries who, in the opinion
of the Plan Administrator, are mainly responsible for the continued growth and development and
future financial success of the business shall be eligible to participate in the Plan.

          (b) The Plan shall not confer upon any Participant any right with respect to continuation of
employment or consulting relationship with the Company, nor shall it interfere in any way with his
or her right or the Company’s right to terminate his or her employment or consulting relationship
at any time, with or without cause.

     7. Stock Options.

          (a) Options granted pursuant to the Plan may be either Options which are Incentive Stock
Options or Nonstatutory Stock Options. Incentive Stock Options and Nonstatutory Stock Options
shall be granted separately hereunder. The Plan Administrator, shall determine whether and to what
extent Options shall be granted under the Plan and whether such Options granted shall be Incentive
Stock Options or Nonstatutory Stock Options; provided, however, that: (i) Incentive
Stock Options may be granted only to Employees of the Company or any Subsidiary; and (ii) no
Incentive Stock Option may be granted following the tenth (10th) anniversary of the effective date
of the Plan. The provisions of the Plan and any Option Agreement pursuant to which Incentive Stock
Options shall be issued shall be construed in a manner consistent with Section 422 of the Code (or
any successor provision) and rules and regulations promulgated thereunder.

          (b) To the extent that Options designated as Incentive Stock Options (under all plans of the
Company or any Parent or Subsidiary) become exercisable by a Participant for the first time during
any calendar year for Common Stock having a Fair Market Value greater than One Hundred Thousand
Dollars ($100,000), the portion of such Options which exceeds such amount shall be treated as
Nonstatutory Stock Options. For purposes of this Section 7, Options designated as Incentive Stock
Options shall be taken into account in the order in which they were granted, and the Fair Market
Value of Common Stock shall be determined as of the time the Option with respect to such Common
Stock is granted. If the Code is amended to provide for a different limitation from that set forth
in this Section 7, such different limitation shall be deemed incorporated herein effective as of
the amendment date and with respect to such Options as required or permitted by such amendment to
the Code. If an Option is treated as an Incentive Stock Option in part and as a Nonstatutory Stock
Option in part by reason of the limitation set forth in this Section 7, the Participant may
designate which portion of such Option the participant is exercising. In the absence of such
designation, the Participant shall be deemed to have exercised the Incentive Stock Option portion
of the Option first. Separate certificates representing each such portion shall be issued upon the
exercise of the Option.

     8. Term of Plan. The Plan shall become effective on January 16, 2001, provided the
Plan has been previously adopted by the Board and approved by the stockholders of the Company as
described in Section 22 of the Plan. The Plan shall remain in effect until terminated under
Section 18 of the Plan.

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     9. Term of Options. The term of each Option shall be the term stated in the Option
Agreement; provided, however, that in the case of an Incentive Stock Option, the
term shall be no more than ten (10) years from the date of grant thereof or such shorter term as
may be provided in the Option Agreement. In the case of an Incentive Stock Option granted to an
Optionee who, at the time the Option is granted, owns stock representing more than ten percent
(10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the
term of the Option shall be five (5) years from the date of grant thereof or such shorter term as
may be provided in the Option Agreement.

     10. Option Exercise Price and Consideration.

          (a) The per share exercise price for the Shares to be issued pursuant to exercise of an Option
shall be such price as is determined by the Board, but shall be subject to the following:

          (i) In the case of an Incentive Stock Option:

               (A) granted to an Employee who, at the time of the grant of such Incentive
Stock Option, owns stock representing more than ten percent (10%) of the voting power of all
classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price
shall be no less than one hundred ten percent (110%) of the Fair Market Value per Share on
the date of grant.

               (B) granted to any Employee, the per Share exercise price shall be no less
than one hundred percent (100%) of the Fair Market Value per Share on the date of grant.

          (ii) In the case of a Nonstatutory Stock Option granted to any person, the
per Share exercise price shall be no less than eighty-five percent (85%) of the Fair Market
Value per Share on the date of grant.

          (b) The Option exercise price of each share purchased pursuant to an Option shall be paid in
full at the time of each exercise of the Option: (i) in cash; (ii) by check; (iii) by cash
equivalent; (iv) by delivering to the Company a notice of exercise with an irrevocable direction to
a broker-dealer registered under the Exchange Act to sell a sufficient portion of the shares and
deliver the sale proceeds directly to the Company to pay the exercise price; (v) in the discretion
of the Plan Administrator, through the delivery to the Company of previously-owned shares of Common
Stock having an aggregate Fair Market Value equal to the Option exercise price of the shares being
purchased pursuant to the exercise of the Option; provided, however, that shares of
Common Stock delivered in payment of the exercise price must have been held by the Participant for
at least six (6) months in order to be utilized to pay the exercise price; or (vi) in the
discretion of the Plan Administrator, through any combination of the foregoing methods of payment.

     11. Exercise of Option.

          (a) Procedure for Exercise; Rights as a Stockholder. Any Option granted hereunder
shall be exercisable at such times and under such conditions as determined by the Plan
Administrator, including performance criteria with respect to the Company and/or the Optionee, and
as shall be permissible under the terms of the Plan.

               An Option may not be exercised for a fraction of a Share.

               An Option shall be deemed to be exercised when written notice of such exercise has been given
to the Company in accordance with the terms of the Option by the person entitled to exercise the
Option and full payment for the Shares with respect to which the Option is exercised has been
received by the Company through a method of payment allowable under Section 10(b) of the Plan.

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Until the issuance (as evidenced by the appropriate entry on the books of the Company or of a
duly authorized transfer agent of the Company) of the stock certificate evidencing such Shares, no
right to vote or receive dividends or any other rights as a stockholder shall exist with respect to
the Optioned Stock, notwithstanding the exercise of the Option. The Company shall issue (or cause
to be issued) such stock certificate promptly upon exercise of the Option. No adjustment will be
made for a dividend or other right for which the record date is prior to the date the stock
certificate is issued, except as provided in Section 15 of the Plan.

          (b) Termination of Employment. Except as set forth below, in the event of termination
of an Optionee’s Continuous Status as an Employee or consulting relationship with the Company (as
the case may be), such Optionee may, but only within ninety (90) days (or such other period of time
as is determined by the Board, with such determination in the case of an Incentive Stock Option
being made at the time of grant of the Option and not exceeding ninety (90) days) after the date of
such termination (but in no event later than the expiration date of the term of such Option as set
forth in the Option Agreement), exercise his or her Option to the extent that Optionee was entitled
to exercise it at the date of such termination. To the extent that Optionee was not entitled to
exercise the Option at the date of such termination, or if Optionee does not exercise such Option
to the extent so entitled within the time specified herein, the Option shall terminate.

          (c) Disability of Optionee. Notwithstanding the provisions of Section 11(b) above, in
the event of termination of an Optionee’s Continuous Status as an Employee or consulting
relationship with the Company (as the case may be) as a result of his or her total and permanent
disability (as defined in Section 22(e)(3) of the Code), Optionee may, but only within twelve (12)
months from the date of such termination (but in no event later than the expiration date of the
term of such Option as set forth in the Option Agreement), exercise the Option to the extent the
Optionee was otherwise entitled to exercise it at the date of such termination. To the extent that
Optionee was not entitled to exercise the Option at the date of termination, or if Optionee does
not exercise such Option to the extent so entitled within the time specified herein, the Option
shall terminate.

          (d) Death of Optionee.

               (i) In the event of the death of an Optionee during the term of Optionee’s Continuous Status
as an Employee or consulting relationship with the Company (as the case may be), the Option may be
exercised, at any time within twelve (12) months following the date of death (but in no event later
than the expiration date of the term of such Option as set forth in the Option Agreement), by the
Optionee’s estate or by a person who acquired the right to exercise the Option by bequest or
inheritance, but only to the extent the Optionee was entitled to exercise the Option at the date of
death. To the extent that Optionee was not entitled to exercise the Option at the date of death,
or if the Option is not exercised by the Optionee’s estate or by a person who acquired the right to
exercise the Option by bequest or inheritance to the extent so entitled within the time specified
herein, the Option shall terminate.

               (ii) In the event of the death of an Optionee within thirty (30) days after the termination of
Optionee’s Continuous Status as an Employee or consulting relationship with the Company (as the
case may be) pursuant to Section 11(b) above, the Option may be exercised, at any time within six
(6) months following the date of death (but in no event later than the expiration date of the term
of such Option as set forth in the Option Agreement), by the Optionee’s estate or by a person who
acquired the right to exercise the Option by bequest or inheritance, but only to the extent the
Optionee was entitled to exercise the Option at the date of death. To the extent that Optionee was
not entitled to exercise the Option at the date of death, or if the Option is not exercised by the
Optionee’s estate or by a person who acquired the right to exercise the Option by bequest or
inheritance to the extent so entitled within the time specified herein, the Option shall terminate.

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          (e) Termination for Cause or Post-Termination Relationship with Competing Business.
Notwithstanding the provisions of Section 11(b) above, in the event of “Termination for Cause” of
an Optionee’s Continuous Status as an Employee or consulting relationship with the Company (as the
case may be), any Option held by the Optionee, whether vested or unvested, shall forthwith
terminate. In addition to the immediate forfeiture of all Options upon the occurrence of the
events specified in the preceding sentence, Optionee shall automatically forfeit all shares
underlying any exercised portion of an Option for which the Company has not yet delivered the share
certificates, upon refund by the Company of the exercise price paid by the Optionee for such
Shares.

     12. Restricted Stock Awards.

          (a) The Plan Administrator may grant Restricted Stock Awards to any officer, Employee or
Consultant of the Company and its Subsidiaries. A Restricted Stock Award entitles the recipient to
acquire shares of Common Stock subject to such restrictions and conditions as the Plan
Administrator may determine at the time of grant. Conditions may be based on continuing employment
(or other business relationship) and/or achievement of pre-established performance goals and
objectives.

          (b) Upon execution of a written instrument setting forth the Restricted Stock Award and paying
any applicable purchase price, a Participant shall have the rights of a stockholder with respect to
the Common Stock subject to the Restricted Stock Award, including, but not limited to, the right to
vote and receive dividends with respect thereto; provided, however, that shares of
Common Stock subject to Restricted Stock Awards that have not vested shall be subject to the
restrictions on transferability described in Section 12(d) below. Unless the Plan Administrator
shall otherwise determine, certificates evidencing the Restricted Stock shall remain in the
possession of the Company until such Restricted Stock is vested as provided in Section 12(c) below.

          (c) The Plan Administrator at the time of grant shall specify the date or dates and/or the
attainment of pre-established performance goals, objectives and other conditions on which
Restricted Stock shall become vested, subject to such further rights of the Company or its assigns
as may be specified in the instrument evidencing the Restricted Stock Award. If the grantee or the
Company, as the case may be, fails to achieve the designated goals or the grantee’s relationship
with the Company is terminated prior to the expiration of the vesting period, the grantee shall
forfeit all shares of Common Stock subject to the Restricted Stock Award which have not then
vested.

          (d) Unvested Restricted Stock may not be sold, assigned transferred, pledged or otherwise
encumbered or disposed of except as specifically provided herein or in the written instrument
evidencing the Restricted Stock Award.

     13. Stock Awards. The Plan Administrator may, in its sole discretion, grant (or sell
at a purchase price determined by the Plan Administrator) a Stock Award to any officer, Employee or
Consultant of the Company or its Subsidiaries, pursuant to which such individual may receive shares
of Common Stock free of any vesting restrictions (a “Stock Award”) under the Plan. Stock Awards may
be granted or sold as described in the preceding sentence in respect of past services or other
valid consideration, or in lieu of any cash compensation due to such individual.

     14. Withholding Tax Obligations.

          (a) Whenever Shares are to be issued under the Plan, the Company shall have the right to
require the Participant to remit to the Company an amount sufficient to satisfy applicable federal,
state and local tax withholding requirements prior to the delivery of any certificate for Shares;
provided, however, that in the case of a Participant who receives an Award of
Shares under the Plan which is not fully vested, the Participant shall remit such amount on the
first business day following the Tax Date. The “Tax Date” for purposes of this Section 14 shall be
the date on which the amount of tax to be

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withheld is determined. If a Participant makes a disposition of shares acquired upon the
exercise of an Incentive Stock Option within either two (2) years after the Option was granted or
one (1) year after its exercise by the Participant, the Participant shall promptly notify the
Company and the Company shall have the right to require the Participant to pay to the Company an
amount sufficient to satisfy federal, state and local tax withholding requirements.

          (b) A Participant who is obligated to pay the Company an amount required to be withheld under
applicable tax withholding requirements may pay such amount: (i) in cash; (ii) in the discretion of
the Plan Administrator, through the delivery to the Company of previously-owned shares of Common
Stock having an aggregate Fair Market Value on the Tax Date equal to the tax obligation, provided
that the previously owned shares delivered in satisfaction of the withholding obligations must have
been held by the Participant for at least six (6) months; or (iii) in the discretion of the Plan
Administrator, through a combination of the procedures set forth in subsections (i) and (ii) of
this Section 14(b).

          (c) A Participant who is obligated to pay to the Company an amount required to be withheld
under applicable tax withholding requirements in connection with either the exercise of a
Nonstatutory Stock Option, the receipt of a Restricted Stock Award or Stock Award under the Plan
may, in the discretion of the Plan Administrator, elect to satisfy this withholding obligation, in
whole or in part, by requesting that the Company withhold shares of stock otherwise issued to the
Participant having a Fair Market Value on the Tax Date equal to the amount of the tax required to
be withheld; provided, however, that shares may be withheld by the Company only if
such withheld shares have vested. Any fractional amount shall be paid to the Company by the
Participant in cash or shall be withheld from the Participant’s next regular paycheck.

          (d) An election by a Participant to have shares of stock withheld to satisfy federal, state
and local tax withholding requirements pursuant to Section 14(c) must be in writing and delivered
to the Company prior to the Tax Date.

     15. Adjustment of Number and Price of Shares.

          Any other provision of the Plan notwithstanding:

          (a) If, through or as a result of any merger, consolidation, sale of all or substantially all
of the assets of the Company, reorganization, recapitalization, reclassification, stock dividend,
stock split, reverse stock split or other similar transaction, the outstanding shares of Common
Stock are increased or decreased or are exchanged for a different number or kind of shares or other
securities of the Company, or additional shares or new or different shares or other securities of
the Company or other non-cash assets are distributed with respect to such shares of Common Stock or
other securities, the Plan Administrator shall make an appropriate or proportionate adjustment in:
(i) the number of Options that can be granted to any one individual Participant; (ii) the number
and kind of shares or other securities subject to any then outstanding Awards under the Plan; (iii)
the price for each share subject to any then outstanding Options under the Plan, without changing
the aggregate exercise price (i.e., the exercise price multiplied by the number of shares) as to
which such Options remain exercisable; and (iv) the maximum number of shares that may be issued
under the Plan. The adjustment by the Plan Administrator shall be final, binding and conclusive.

          (b) In the event that, by reason of a corporate merger, consolidation, acquisition of property
or stock, separation, reorganization or liquidation, the Board shall authorize the issuance or
assumption of an Option or Options in a transaction to which Section 424(a) of the Code applies,
then, notwithstanding any other provision of the Plan, the Plan Administrator may grant an Option
or Options upon such terms and conditions as it may deem appropriate for the purpose of assumption
of the old

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Option, or substitution of a new Option for the old Option, in conformity with the provisions
of Code Section 424(a) and the rules and regulations thereunder, as they may be amended from time
to time.

          (c) No adjustment or substitution provided for in this Section 15 shall require the Company to
issue or to sell a fractional share under any Option Agreement or share award agreement and the
total adjustment or substitution with respect to each Option and share award agreement shall be
limited accordingly.

          (d) In the case of the dissolution or liquidation of the Company, the Plan and all Awards
granted hereunder shall terminate. In the event of such proposed termination, each Participant
shall be notified of such termination and shall be permitted to exercise for a period of at least
fifteen (15) days prior to the date of such termination all Options held by such Participant which
are then exercisable.

          (e) In the case of: (i) a merger, reorganization or consolidation in which the Company is
acquired by another person or entity (other than a holding company formed by the Company); (ii) the
sale of all or substantially all of the assets of the Company to an unrelated person or entity
which is not an “affiliate” (as defined in Rule 144 of the Securities Act of 1933, as amended) of
the Company; or (iii) the sale of all of the capital stock of the Company to an unrelated person or
entity which is not an “affiliate” of the Company (in each case, a “Fundamental Transaction”), all
Options shall be assumed or equivalent options shall be substituted by such successor corporation
or a parent or subsidiary of such successor corporation. For the purposes of this paragraph, the
Options shall be considered assumed if, following the Fundamental Transaction, the Options confer
the right to purchase, for each Share subject to the Options immediately prior to the Fundamental
Transaction, the consideration (whether stock, cash, or other securities or property) received in
the Fundamental Transaction by holders of Common Stock for each Share held on the effective date of
the Fundamental Transaction (and if holders were offered a choice of consideration, the type of
consideration chosen by the holders of a majority of the outstanding Shares); provided,
however, that if such consideration received in the Fundamental Transaction was not solely
common stock of the successor corporation or its Parent, the Board may, with the consent of the
successor corporation and the Participant, provide for the consideration to be received upon the
exercise of the Options, for each Share subject to the Options, to be solely common stock of the
successor corporation or its Parent equal in Fair Market Value to the per share consideration
received by holders of Common Stock in the Fundamental Transaction.

          In the event that such successor corporation does not agree to assume the Options or to
substitute equivalent options, the Board shall provide for each Optionee to have the right to
exercise all Options then held by such Optionee, including Options which would not otherwise be
exercisable. In such event, the Board shall notify each Optionee that such Options shall be fully
exercisable for a period of fifteen (15) days from the date of receipt of such notice, and that
such Options will terminate upon the expiration of such period.

          Notwithstanding anything in the Plan to the contrary, the acceleration of exercisability in
this Section shall not occur in the event that such acceleration would, in the opinion of the
Company’s independent auditors, make the Fundamental Transaction ineligible for pooling of
interests accounting treatment and the Company intends to use such treatment with respect to such
transaction. The Board shall obtain a written statement from the Company’s independent auditors
with respect to the effect of accelerated exercisability of outstanding Options prior to providing
any Optionee with the notice contemplated by this Section.

          (f) In the event that the Company shall be merged or consolidated with another corporation or
entity, other than with a corporation or entity which is an “affiliate” of the Company, under the
terms of which holders of capital stock of the Company will receive upon consummation thereof a
cash payment for each share of capital stock of the Company surrendered pursuant to such
transaction (the “Cash Purchase Price”), the Board may provide that all outstanding options shall

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terminate upon consummation of such transaction and each Optionee shall receive, in exchange
therefor, a cash payment equal to the amount (if any) by which (i) the Cash Purchase Price
multiplied by the number of shares of Capital Stock of the Company subject to outstanding options
held by such optionee exceeds (ii) the aggregate exercise price of such options.

     16. Nontransferability. A Participant’s rights under the Plan, including the right to
any shares or amounts payable may not be assigned, pledged, or otherwise transferred except, in the
event of a Participant’s death, to the Participant’s designated beneficiary or, in the absence of
such a designation, by will or by the laws of descent and distribution; provided,
however, that the Plan Administrator may, in its discretion, at the time of grant of a
Nonstatutory Stock Option or by amendment of an Option Agreement for an Incentive Stock Option or a
Nonstatutory Stock Option, provide that Options granted to or held by a Participant may be
transferred, in whole or in part, to one or more transferees and exercised by any such transferee,
provided further that: (i) any such transfer must be without consideration; (ii) each transferee
must be a member of such Participant’s “immediate family” (as defined below) or a trust, family
limited partnership or other estate planning vehicle established for the exclusive benefit of one
or more members of the Participant’s immediate family; and (iii) such transfer is specifically
approved by the Plan Administrator following the receipt of a written request for approval of the
transfer; and provided further that any Incentive Stock Option which is amended to permit transfers
during the lifetime of the Participant shall, upon the effectiveness of such amendment, be treated
thereafter as a Nonstatutory Stock Option. In the event an Option is transferred as contemplated
in this Section, such transfer shall become effective when approved by the Plan Administrator and
such Option may not be subsequently transferred by the transferee other than by will or the laws of
descent and distribution. Any transferred Option shall continue to be governed by and subject to
the terms and conditions of this Plan and the relevant Option Agreement, and the transferee shall
be entitled to the same rights as the Participant as if no transfer had taken place. As used in
this Section, “immediate family” shall mean, with respect to any person, any spouse, child,
stepchild or grandchild, and shall include relationships arising from legal adoption.

     17. Termination — Certain Forfeitures. Notwithstanding any other provision of the
Plan to the contrary, a Participant shall have no right to exercise any Option or vest or receive
payment of any Restricted Stock Award or Stock Award if the Participant is Terminated for Cause.

     18. Amendment and Termination of the Plan.

          (a) Amendment and Termination. The Board may at any time amend, alter, suspend or
discontinue the Plan, but no amendment, alteration, suspension or discontinuation shall be made
which would impair the rights of any Optionee under any grant theretofore made, without his or her
consent. In addition, to the extent necessary and desirable to comply with Rule 16b-3 under the
Exchange Act or with Section 422 of the Code (or any other applicable law or regulation, including
the requirements of the NASD or an established stock exchange), the Company shall obtain
stockholder approval of any Plan amendment in such a manner and to such a degree as required.

          (b) Effect of Amendment or Termination. Any such amendment or termination of the Plan
shall not affect Options already granted and such Options shall remain in full force and effect as
if this Plan had not been amended or terminated, unless mutually agreed otherwise between the
Optionee and the Board, which agreement must be in writing and signed by the Optionee and the
Company.

     19. Conditions Upon Issuance of Shares. Shares shall not be issued pursuant to the
any Award under the Plan unless the issuance and delivery of such Shares pursuant thereto shall
comply with all relevant provisions of law, including, without limitation, the Securities Act of
1933, as amended, the Exchange Act, the rules and regulations promulgated thereunder, and the
requirements of any stock exchange upon which the Shares may then be listed, and shall be further
subject to the approval of counsel for the Company with respect to such compliance.

-10-

 

          As a condition to the exercise of an Option, the Company may require the person exercising
such Option to represent and warrant at the time of any such exercise that the Shares are being
purchased only for investment and without any present intention to sell or distribute such Shares
if, in the opinion of counsel for the Company, such a representation is required by any of the
aforementioned relevant provisions of law.

     20. Reservation of Shares. The Company, during the term of this Plan, will at all
times reserve and keep available such number of Shares as shall be sufficient to satisfy the
requirements of the Plan.

          The inability of the Company to obtain authority from any regulatory body having jurisdiction,
which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale
of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to
issue or sell such Shares as to which such requisite authority shall not have been obtained.

     21. Agreements. Options and Restricted Stock Awards shall be evidenced by written
agreements in such form as the Board shall approve from time to time.

     22. Stockholder Approval. Continuance of the Plan shall be subject to approval by the
stockholders of the Company within twelve (12) months before or after the date the Plan is adopted.
Such stockholder approval shall be obtained in the degree and manner required under applicable
state and federal law.

     23. Information to Optionees. The Company shall provide to each Optionee, during the
period for which such Optionee has one or more Options outstanding, copies of all annual reports
and other information which are provided to all stockholders of the Company. The Company shall not
be required to provide such information if the issuance of Options under the Plan is limited to key
employees whose duties in connection with the Company assure their access to equivalent
information.

* * * *

-11-exv10w2

 

Exhibit 10.2

FORM OF

	 	 	 	 	 
	SYNERGETICS USA, INC.

	 	Date of Grant:	 	 
	 

	 	 	 	 
	Employee Restricted Stock Agreement

	 	Employee:	 	 
	 

	 	 	 	 
	 

	 	No. of Shares:	 	 
	 

	 	 	 	 

     This Agreement will certify that the employee named above (“Employee”) is awarded the
number of restricted shares of common stock, $0.001 par value per share (the “Common Stock”), of
Synergetics USA, Inc. (the “Company”), designated above (the “Restricted Stock”), pursuant to the
Company’s Amended and Restated 2001 Stock Plan (the “Plan”), as of the date indicated above (the
“Grant Date”) and subject to the terms, conditions and restrictions in the Plan and those set forth
below. Any capitalized, but undefined, term used in this Agreement shall have the meaning ascribed
to it in the Plan. Employee’s signature below constitutes Employee’s acceptance of this award and
acknowledgment of Employee’s agreement to all the terms, conditions and restrictions contained in
the Plan and this Agreement.

	 	 	 	 	 	 	 
	Accepted by Employee:	 	SYNERGETICS USA, INC.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	[Insert Electronic Signature]	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	[Name of Signatory]	 	 
	 

	 	 	 	[Title of Signatory]	 	 

Terms and Conditions

     1. Terms of Award. Pursuant to the terms of the Plan, the Company awards to the
Employee the number of shares of Restricted Stock set forth above. The Restricted Stock is
nontransferable by the Employee during the period described below and is subject to the risk of
forfeiture as described below. Prior to the time shares become transferable, any certificates
evidencing the shares of Restricted Stock shall bear a legend indicating their nontransferability,
and, subject to the terms of this Agreement, including those of the Plan, if the Employee
terminates service as an Employee of the Company prior to the time a restriction lapses, the
Employee shall forfeit any shares of Restricted Stock which are still subject to the restrictions
at the time of termination of such service.

     The restrictions on transfer and the risk of forfeiture described in this Section 1
shall lapse and be of no further force and effect as follows, as long as the Employee is still an
employee of the Company on the respective annual anniversary and has maintained Continuous Status
as an Employee during such 12-month period ending on the annual anniversary:

	 	 	 
	Date	 	Percent of Grant for which Restrictions Lapse on Indicated Date
	 
	 	 
	 
	 	 

     2. Cost of Restricted Stock. The purchase price of the shares of Restricted
Stock shall be $0.00.

     3. Acceleration. Upon the occurrence of an Acquisition Event (as defined below), the
restrictions on transfer and the risk of forfeiture described in Section 1 above shall
lapse and be of no further force and effect. An “Acquisition Event” shall be deemed to have
occurred only if any of the following events occur: (a) the stockholders of the Company approve a
merger or consolidation which results in the voting securities of the Company outstanding
immediately prior thereto representing thereafter (either by remaining outstanding or by being
converted into voting securities of the surviving or acquiring entity) less than 50% of the
combined voting power of the voting securities of the Company or such surviving or acquiring entity
outstanding immediately after such merger or consolidation; (b)

1

 

any sale of all or substantially all of the assets of the Company; (c) the complete liquidation of
the Company; or (d) the acquisition of “beneficial ownership” (as defined in Rule 13d-3 under the
Securities Exchange Act of 1934) of securities of the Company representing 50% or more of the
combined voting power of the Company’s then outstanding securities (other than through a merger or
consolidation or an acquisition of securities directly from the Company) by any “person”, as such
term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, other than the
Company, (or its successor), any trustee or other fiduciary holding securities under an employee
benefit plan of the Company or any corporation owned directly or indirectly by the stockholders of
the Company in substantially the same proportion as their ownership of stock of the Company.

     4. No Right to Continued Service. Nothing in this Agreement shall be deemed to create
any limitation or restriction on such rights as the Company otherwise would have to terminate the
service of the Employee.

     5. Compensation Committee Administration. This award has been made pursuant to a
determination made by the Compensation Committee, and the Compensation Committee or any successor
or substitute committee authorized by the Board of Directors or the Board of Directors itself,
subject to the express terms of this Agreement, shall have plenary authority to interpret any
provision of this Agreement and to make any determinations necessary or advisable for the
administration of this Agreement and may waive or amend any provisions hereof in any manner not
adversely affecting the rights granted to the Employee by the express terms hereof.

     6. Grant Subject to Plan. This award of Restricted Stock is granted under and is
expressly subject to all the terms and provisions of the Plan, and the terms of the Plan are
incorporated herein by reference. The Employee hereby acknowledges receipt of a copy of the Plan
and agrees to be bound by all the terms and provisions thereof. The Compensation Committee has
been appointed by the Board of Directors and designated by it, as the Compensation Committee to
make grants of restricted stock.

     7. Rights as Stockholder. The Employee shall be entitled to all of the rights of a
stockholder with respect to the shares of Restricted Stock, including the right to vote such shares
and to receive dividends and other distributions payable with respect to such shares since the
Grant Date. To the extent that shares of Restricted Stock are forfeited as provided in Section
1 of this Agreement, the Employee shall no longer be entitled to the rights of a stockholder
with respect to such forfeited shares.

     8. Escrow of Share Certificates. In the Company’s sole discretion, (a) certificates
for the Restricted Stock shall be issued in the Employee’s name and shall be held in escrow by the
Company until all restrictions lapse or such shares are forfeited as provided herein, or (b) the
Restricted Stock shall be evidenced on the books and records of the Company via book entry until
all restrictions lapse or such shares are forfeited as provided herein. A certificate or
certificates representing the Restricted Stock as to which restrictions have lapsed shall be
delivered to the Employee upon such lapse.

     9. Government Regulations. Notwithstanding anything contained herein to the contrary,
the Company’s obligation to issue or deliver certificates evidencing the Restricted Stock shall be
subject to all applicable laws, rules and regulations and to such approvals by any governmental
agencies or national securities exchanges as may be required.

     10. Withholding Taxes. The Company shall have the right to require the Employee to
remit to the Company, or to withhold from other amounts payable to the Employee, as compensation or
otherwise, an amount sufficient to satisfy all federal, state and local withholding tax
requirements.

     11. Governing Law. This Agreement shall be construed under the laws of the State of
Missouri.

2

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