Document:

WWW.EXFILE.COM -- 15048 -- MATRITECH, INC. -- EXHIBIT 10.1 TO FORM 8-K

    EXHIBIT
      10.1

     

    MATRITECH,
      INC.

    INCENTIVE
      STOCK OPTION AGREEMENT

    

    Matritech,
      Inc. (the “Company”)
      hereby grants the following stock option pursuant to its 2006 Equity and
      Incentive Plan.  The terms and conditions attached hereto are also a
      part hereof.

    

    
      
        	
                Name
                  of optionee (the “Optionee”):

              	 
	 	 
	
                Date
                  of this option grant:

              	 
	 	 
	
                Number
                  of shares of the Company’s Common Stock subject to this option
                  (“Shares”):

              	 
	 	 
	
                Option
                  exercise price per Share:

              	 
	 	 
	
                Scheduled
                  expiration date:

              	 
	 	 
	
                Vesting
                  Start Date: one year anniversary of grant

              	 

      

    

    

      Vesting
      Schedule:

    
      
        	
                One year
                  from Grant Date (25% of Shares):

              	 
	 	 
	
                Two years
                  from Grant Date (Additional 25% of Shares):

              	 
	 	 
	
                Three years
                  from Grant Date (Additional 25% of Shares):

              	 
	 	 
	
                Four
                  years from Grant Date (Final 25% of Shares):

              	 
	 	 
	
                All
                  vesting is dependent on the continuation of a Business Relationship
                  with
                  the Company, as provided herein.

              
	
                Payment
                  alternatives (specify any or all of Section 7(a)(i) though
                  (iii)):

              	
                Section
                  7(a) (i) through (iii)

              

      

    

    

    This
      option satisfies in full all commitments that the Company has to the Optionee
      with respect to the issuance of stock, stock options or other equity
      securities.

    

    
      	 	
               

              Matritech,
                Inc.

            
	
              ____________________________________

            	 
	
              Signature
                of Optionee

            	
              By:____________________________

            
	
              ____________________________________

            	
                    Name
                of Officer:

            
	
              Street
                Address

            	
                    Title:

            
	
              ____________________________________

            	 
	
              City/State/Zip
                Code

            	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Matritech,
      Inc.

    

    INCENTIVE STOCK
      OPTION AGREEMENT -- INCORPORATED TERMS AND CONDITIONS

    

    1.           Grant
      Under Plan.  This option is granted pursuant to and is governed by
      the Company’s 2006 Equity and Incentive Plan, as amended September 15, 2006 (the
“Plan”) and, unless the context otherwise requires, terms used herein
      shall have the same meaning as in the Plan.

    

    2.           Grant
      as Incentive Stock Option.  This option is intended to qualify as
      an incentive stock option under Section 422 of the Internal Revenue Code of
      1986, as amended, and the regulations thereunder (the
“Code”).

    

    3.           Vesting
      of Option.

    

    Vesting
      if Business Relationship
      Continues. If the Optionee has continuously maintained a Business
      Relationship (as defined below) with the Company through the dates listed on
      the
      vesting schedule set forth on the cover page hereof, the Optionee may exercise
      this option for the number of Shares of Common Stock set opposite the applicable
      vesting date.  “Business Relationship” means service to the
      Company or its successor in the capacity of an employee, officer, director
      or
      consultant.  Notwithstanding the foregoing, the Board may, in its
      discretion, accelerate the date that any installment of this option becomes
      exercisable.  The foregoing rights are cumulative and may be exercised
      only before the date which is seven years from the date of this option grant
      (the scheduled expiration date set forth on the cover page hereof).

    

    4.           Termination
      of Business Relationship.

    

    (a)           Termination.  If
      the Optionee’s Business Relationship with the Company ceases, voluntarily or
      involuntarily, with or without cause, no further installments of this option
      shall become exercisable, and this option shall expire (may no longer be
      exercised) after the passage of three months from the date of termination,
      but
      in no event later than the scheduled expiration date set forth on the cover
      page
      hereof.  Any determination under this agreement as to the status of a
      Business Relationship or other matters referred to above shall be made in good
      faith by the Board of Directors of the Company.

    

    (b)           Employment
      Status. For purposes hereof, with respect to employees of the Company,
      employment shall not be considered as having terminated during
      any leave of absence if such leave of absence has been approved in
      writing by the Company and if such written approval contractually obligates
      the
      Company to continue the employment of the Optionee after the approved period
      of
      absence; in the event of such an approved leave of absence, vesting of this
      option shall be suspended (and the period of the leave of absence shall be
      added
      to all vesting dates) unless otherwise provided in the Company’s written
      approval of the leave of absence. For purposes hereof, a termination of
      employment followed by another Business Relationship shall be deemed a
      termination of 

     

    
      
        
        

      

      
        
        

        
          
-2-

      

      
        
        

      

    

    the
      Business Relationship with all vesting to cease unless the Company enters into
      a
      written agreement related to such other Business Relationship in which it is
      specifically stated that there is no termination of the Business Relationship
      under this agreement. This option shall not be affected by any change of
      employment within or among the Company and its Subsidiaries so long as the
      Optionee continuously remains an employee of the Company or any
      Subsidiary.

    

    5.           Death;
      Disability.

    

    (a)           Death.  Upon
      the death of the Optionee while the Optionee is maintaining a Business
      Relationship with the Company, this option may be exercised, to the extent
      of
      the number of Shares with respect to which the Optionee could have exercised
      it
      immediately prior to the Optionee’s death, by the Optionee’s estate, personal
      representative or beneficiary to whom this option has been transferred pursuant
      to Section 10, only at any time within 180 days after the date of
      death, but not later than the scheduled expiration date set forth on the cover
      page hereof.

    

    (b)           Disability.  If
      the Optionee ceases to maintain a Business Relationship with the Company by
      reason of his or her disability, this option may be exercised, to the extent
      of
      the number of Shares with respect to which the Optionee could have exercised
      it
      immediately prior to the termination of the Optionee’s Business Relationship
      with the Company, only at any time within 180 days after such termination,
      but not later than the scheduled expiration date set forth on the cover page
      hereof.  For purposes hereof, “disability” means “permanent
      and total disability” as defined in Section 22(e)(3) of the
      Code.

    

    (c)           Change
      of Control. In the event of an Acquisition (as defined herein) prior to
      the full vesting of this option, the vesting of the option shall be accelerated
      and the Optionee shall have the right to exercise the option in full, at the
      moment immediately preceding the consummation of the Acquisition.  For
      purposes of this Plan, an “Acquisition” shall mean: (x) the sale of the Company
      by merger in which the shareholders of the Company in their capacity as such
      no
      longer own a majority of the outstanding equity securities of the Company (or
      its successor); or (y) any sale of all or substantially all of the assets or
      capital stock of the Company (other than in a spin-off or similar transaction)
      or (z) any other acquisition of the business of the Company, as determined
      by
      the Board.

    

    6.           Partial
      Exercise.  This option may be exercised in part at any time and
      from time to time within the above limits, except that this option may not
      be
      exercised for a fraction of a Share.

    

    7.           Payment
      of Exercise Price.

    

    (a)            Payment
      Options.  The exercise price shall be paid by one or any
      combination of the following forms of payment that are applicable to this
      option, as indicated on the cover page hereof:

    

    
      
        
        

      

      
        
        

        
          
-3-

      

      
        
        

      

    

    
      	
               

            	
              (i)

            	
              by
                cash or check payable to the order of the Company;
                or

            

    

    

    
      	
               

            	
              (ii)

            	
              if
                the Common Stock is then traded on a national securities exchange
                or on
                the Nasdaq Stock Market (or successor trading system), delivery of
                an
                irrevocable and unconditional undertaking, satisfactory in form and
                substance to the Company, by a creditworthy broker to deliver promptly
                to
                the Company sufficient funds to pay the exercise price, or delivery
                by the
                Optionee to the Company of a copy of irrevocable and unconditional
                instructions, satisfactory in form and substance to the Company,
                to a
                creditworthy broker to deliver promptly to the Company cash or a
                check
                sufficient to pay the exercise price;
                or

            

    

    

    
      	
               

            	
              (iii)

            	
              subject
                to Section 7(b) below, if the Common Stock is then traded on a
                national securities exchange or on the Nasdaq Stock Market (or successor
                trading system), by delivery of shares of Common Stock having a fair
                market value equal as of the date of exercise to the option
                price.

            

    

    

    In
      the
      case of (iii) above, fair market value as of the date of exercise shall be
      determined as of the last business day for which such prices or quotes are
      available prior to the date of exercise and shall mean (x) the last
      reported sale price (on that date) of the Common Stock on the principal national
      securities exchange on which the Common Stock is traded, if the Common Stock
      is
      then traded on a national securities exchange; or (y) the last reported
      sale price (on that date) of the Common Stock on the Nasdaq Stock Market (or
      successor trading system), if the Common Stock is not then traded on a national
      securities exchange.

    

    (b)           Limitations
      on Payment by Delivery of Common Stock.  If Section 7(a)(iii) is
      applicable, and if the Optionee delivers Common Stock held by the Optionee
      (“Old Stock”) to the Company in full or partial payment of the exercise
      price and the Old Stock so delivered is subject to restrictions or limitations
      imposed by agreement between the Optionee and the Company, an equivalent number
      of Shares shall be subject to all restrictions and limitations applicable to
      the
      Old Stock to the extent that the Optionee paid for the Shares by delivery of
      Old
      Stock, in addition to any restrictions or limitations imposed by this
      agreement.  Notwithstanding the foregoing, the Optionee may not pay
      any part of the exercise price hereof by transferring Common Stock to the
      Company unless such Common Stock has been owned by the Optionee free of any
      substantial risk of forfeiture for at least six months.

    

    8.           Securities
      Laws Restrictions on Resale. Until registered under the Securities Act of
      1933, as amended, or any successor statute (the “Securities Act”), the
      Shares will be illiquid and will be deemed to be “restricted securities” for
      purposes of the Securities Act.  Accordingly, such Shares must be sold
      in compliance with the registration requirements of the Securities Act or an
      exemption therefrom and may need to be held indefinitely.  Unless the
      Shares have been registered under the Securities Act, each certificate
      evidencing any of the Shares shall bear a restrictive legend specified by the
      Company.

    

    
      
        
        

      

      
        
        

        
          
-4-

      

      
        
        

      

    

    9.           Method
      of Exercising Option.  Subject to the terms and conditions of this
      agreement, this option may be exercised by written notice to the Company at
      its
      principal executive office, or to such transfer agent as the Company shall
      designate.  Such notice shall state the election to exercise this
      option and the number of Shares for which it is being exercised and shall be
      signed by the person or persons so exercising this option.  Such
      notice shall be accompanied by payment of the full purchase price of such
      Shares, and the Company shall deliver a certificate or certificates representing
      such Shares as soon as practicable after the notice shall be
      received.  Such certificate or certificates shall be registered in the
      name of the person or persons so exercising this option (or, if this option
      shall be exercised by the Optionee and if the Optionee shall so request in
      the
      notice exercising this option, shall be registered in the name of the Optionee
      and another person jointly, with right of survivorship). In the event this
      option shall be exercised, pursuant to Section 5 hereof, by any person or
      persons other than the Optionee, such notice shall be accompanied by appropriate
      proof of the right of such person or persons to exercise this
      option.

    

    10.           Option
      Not Transferable.  This option is not transferable or assignable
      except by will or by the laws of descent and distribution.  During the
      Optionee’s lifetime only the Optionee can exercise this option.

    

    11.           No
      Obligation to Exercise Option.  The grant and acceptance of this
      option imposes no obligation on the Optionee to exercise it.

    

    12.           No
      Obligation to Continue Business Relationship.  Neither the Plan,
      this agreement, nor the grant of this option imposes any obligation on the
      Company to continue the Optionee in employment or other Business
      Relationship.

    

    13.           No
      Severance or Termination Rights.  With respect to employees of the
      Company, awards under this Plan do not form part of an Optionee’s contract of
      employment and do not entitle an Optionee to any benefit other than that granted
      under this Plan.  Any benefits granted under this Plan are not part of
      an Optionee’s ordinary salary, and shall not be considered as part of such
      salary for pension purposes or in the event of severance, redundancy or
      resignation.  If Optionee’s employment is terminated for whatever
      reason the Optionee agrees that he or she shall not be entitled by way of
      damages for breach of contract, dismissal or compensation for loss of office
      or
      otherwise to any sum, Shares or other benefits to compensate for the loss or
      diminution in value of any actual or prospective right, benefits or expectation
      under or in relation to the Plan.

    

    14.           Adjustments.  Except
      as is expressly provided in the Plan with respect to certain changes in the
      capitalization of the Company, no adjustment shall be made for dividends or
      similar rights for which the record date is prior to such date of
      exercise.

    

    15.           Withholding
      Taxes.  If the Company in its discretion determines that it is
      obligated to withhold any tax in connection with the grant, vesting or exercise
      of this option, or in connection with the transfer of, or the lapse of
      restrictions on, any Common Stock or other property acquired pursuant to this
      option, the Optionee hereby agrees that the Company may 

     

    
      
        
        

      

      
        
        

        
          
-5-

      

      
        
        

      

    

    withhold
      from the Optionee’s wages or other remuneration the appropriate amount of tax.
      At the discretion of the Company, the amount required to be withheld may be
      withheld in cash from such wages or other remuneration or in kind from the
      Common Stock or other property otherwise deliverable to the Optionee on exercise
      of this option.  The Optionee further agrees that, if the Company does
      not withhold an amount from the Optionee’s wages or other remuneration
      sufficient to satisfy the withholding obligation of the Company, the Optionee
      will make reimbursement on demand, in cash, for the amount
      underwithheld.

    

    16.           Early
      Disposition.  The Optionee agrees to notify the Company in writing
      immediately after the Optionee transfers any Shares, if such transfer occurs
      on
      or before the later of (a) the date that is two years after the date of
      this agreement or (b) the date that is one year after the date on which the
      Optionee acquired such Shares.  The Optionee also agrees to provide
      the Company with any information concerning any such transfer required by the
      Company for tax purposes.  The Company may, at its option, require
      that a restrictive legend be included on any certificate representing Shares
      which have been held by an Optionee for less than two years from the date of
      this agreement or less than one year from the date on which the Optionee
      acquired such Shares.

    

    17.           Provision
      of Documentation to Optionee.  By signing this agreement the
      Optionee acknowledges receipt of a copy of this agreement and a copy of the
      Plan.

    

    18.           Transfer
      of Data Waiver.  By signing this agreement the Optionee
      acknowledges that in order to perform its requirements under the Plan, the
      Company may process personal data and/or sensitive personal data about the
      Optionee.  Such data includes, but is not limited to, the information
      provided in this grant package and any changes thereto, other appropriate
      personal and financial data about the Optionee, and information about the
      Optionee’s participation in the Plan and Shares exercised under the Plan from
      time to time.  The Optionee hereby gives explicit consent to the
      Company to process any such personal data and/or sensitive personal
      data.  The Optionee also gives explicit consent to the Company to
      transfer any such personal data and/or sensitive personal data outside the
      country in which the Optionee works and to the United States.  The
      legal persons for whom the personal data is intended include the Company and
      any
      of its subsidiaries, the outside plan administrator as selected by the Company
      from time to time, and any other person that the Company may find in its
      administration of the Plan appropriate.  By signing this agreement,
      the Optionee acknowledges that he has been informed of his right of access
      to
      and correction of personal data by contacting the local Human Resources
      Representative.  Optionee further acknowledges that the transfer of
      the information outlined here is important to the administration of the Plan
      and
      failure to consent to the transmission of such information may limit or prohibit
      participation under the Plan.

    

    19.           Miscellaneous.

    

    (a)           Notices.  All
      notices hereunder shall be in writing and shall be deemed given when sent by
      mail, if to the Optionee, to the address set forth below or at the address
      shown
      on the records of the Company, and if to the Company, to the Company’s principal
      executive offices, attention of the Corporate Secretary.

    

    
      
        
        

      

      
        
        

        
          
-6-

      

      
        
        

      

    

    (b)           Entire
      Agreement; Modification.  This agreement constitutes the entire
      agreement between the parties relative to the subject matter hereof, and
      supersedes all proposals, written or oral, and all other communications between
      the parties relating to the subject matter of this agreement. This agreement
      may
      be modified, amended or rescinded only by a written agreement executed by both
      parties.

    

    (c)           Fractional
      Shares. If this option becomes exercisable for a fraction of a Share because
      of the adjustment provisions contained in the Plan, such fraction shall be
      rounded down.

    

    (d)           Issuances
      of Securities; Changes in Capital Structure. Except as expressly provided
      herein or in the Plan, no issuance by the Company of shares of stock of any
      class, or securities convertible into shares of stock of any class, shall
      affect, and no adjustment by reason thereof shall be made with respect to,
      the
      number or price of Shares subject to this option.  No adjustments need
      be made for dividends paid in cash or in property other than securities of
      the
      Company. If there shall be any change in the Common Stock of the Company through
      merger, consolidation, reorganization, recapitalization, stock dividend, stock
      split, combination or exchange of shares, spin-off, split-up or other similar
      change in capitalization or event, the restrictions contained in this agreement
      shall apply with equal force to additional and/or substitute securities, if
      any,
      received by the Optionee in exchange for, or by virtue of his or her ownership
      of, Shares, except as otherwise determined by the Board.

    

    (e)           Severability.  The
      invalidity, illegality or unenforceability of any provision of this agreement
      shall in no way affect the validity, legality or enforceability of any other
      provision.

    

    (f)           Successors
      and Assigns.  This agreement shall be binding upon and inure to
      the benefit of the parties hereto and their respective successors and assigns,
      subject to the limitations set forth in Section 10 hereof.

    

    (g)           Governing
      Law.  This agreement shall be governed by and interpreted in
      accordance with the laws of the State of Delaware, without giving effect to
      the
      principles of the conflicts of laws thereof.WWW.EXFILE.COM -- 15048 -- MATRITECH, INC. -- EXHIBIT 10.2 TO FORM 8-K

     

    EXHIBIT
      10.2

    MATRITECH,
      INC.

    NON-QUALIFIED
      STOCK OPTION AGREEMENT

    

    Matritech,
      Inc. (the “Company”)
      hereby grants the following stock option pursuant to its 2006 Equity and
      Incentive Plan.  The terms and conditions attached hereto are also a
      part hereof.

    

    
      
        
          	
                  Name
                    of optionee (the “Optionee”):

                	 
	 	 
	
                  Date
                    of this option grant:

                	 
	 	 
	
                  Number
                    of shares of the Company’s Common Stock subject to this option
                    (“Shares”):

                	 
	 	 
	
                  Option
                    exercise price per Share:

                	 
	 	 
	
                  Scheduled
                    expiration date:

                	 
	 	 
	
                  Vesting
                    Start Date: one year anniversary of grant

                	 

        

      

    

    

      Vesting
      Schedule:

    
      
        	
                One year
                  from Grant Date (25% of Shares):

              	 
	 	 
	
                Two years
                  from Grant Date (Additional 25% of Shares):

              	 
	 	 
	
                Three years
                  from Grant Date (Additional 25% of Shares):

              	 
	 	 
	
                Four
                  years from Grant Date (Final 25% of Shares):

              	 
	 	 
	
                All
                  vesting is dependent on the continuation of a Business Relationship
                  with
                  the Company, as provided herein.

              
	
                Payment
                  alternatives (specify any or all of Section 7(a)(i) though
                  (iii)):

              	
                Section
                  7(a) (i) through (iii)

              

      

    

    

    This
      option satisfies in full all commitments that the Company has to the Optionee
      with respect to the issuance of stock, stock options or other equity
      securities.

    

    
      	 	
               

              Matritech,
                Inc.

            
	
              ____________________________________

            	 
	
              Signature
                of Optionee

            	
              By:____________________________

            
	
              ____________________________________

            	
                    Name
                of Officer:

            
	
              Street
                Address

            	
                    Title:

            
	
              ____________________________________

            	 
	
              City/State/Zip
                Code

            	 

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Matritech,
      Inc.

    

    NON-QUALIFIED
      STOCK OPTION AGREEMENT -- INCORPORATED TERMS AND CONDITIONS

    

    1.           Grant
      Under Plan.  This option is granted pursuant to and is governed by
      the Company’s 2006 Equity and Incentive Plan (the “Plan”) and, unless the
      context otherwise requires, terms used herein shall have the same meaning as
      in
      the Plan.

    

    2.           Grant
      as Non-Qualified Stock Option.  This option is not intended to
      qualify as an incentive stock option under Section 422 of the Internal
      Revenue Code of 1986, as amended, and the regulations thereunder (the
“Code”), and shall be treated for federal income tax purposes as a
      Non-Qualified Option (rather than an incentive stock option).

    

    3.           Vesting
      of Option.

    

    Vesting
      if Business Relationship
      Continues. If the Optionee has continuously maintained a Business
      Relationship (as defined below) with the Company through the dates listed on
      the
      vesting schedule set forth on the cover page hereof, the Optionee may exercise
      this option for the number of Shares of Common Stock set opposite the applicable
      vesting date.  “Business Relationship” means service to the
      Company or its successor in the capacity of an employee, officer, director
      or
      consultant.  Notwithstanding the foregoing, the Board may, in its
      discretion, accelerate the date that any installment of this option becomes
      exercisable.  The foregoing rights are cumulative and may be exercised
      only before the date which is seven years from the date of this option grant
      (the scheduled expiration date set forth on the cover page hereof).

    

    4.           Termination
      of Business Relationship.

    

    (a)           Termination.  If
      the Optionee’s Business Relationship with the Company ceases, voluntarily or
      involuntarily, with or without cause, no further installments of this option
      shall become exercisable, and this option shall expire (may no longer be
      exercised) after the passage of three months from the date of termination,
      but
      in no event later than the scheduled expiration date set forth on the cover
      page
      hereof.  Any determination under this agreement as to the status of a
      Business Relationship or other matters referred to above shall be made in good
      faith by the Board of Directors of the Company.

    

    (b)           Employment
      Status. For purposes hereof, with respect to employees of the Company,
      employment shall not be considered as having terminated during
      any leave of absence if such leave of absence has been approved in
      writing by the Company and if such written approval contractually obligates
      the
      Company to continue the employment of the Optionee after the approved period
      of
      absence; in the event of such an approved leave of absence, vesting of this
      option shall be suspended (and the period of the leave of absence shall be
      added
      to all vesting dates) unless otherwise provided in the Company’s written
      approval of the leave of absence. For purposes hereof, a termination of
      employment followed by another Business Relationship shall be deemed a
      termination 

     

    
      
         

      

      
         

        
          
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    of
      the
      Business Relationship with all vesting to cease unless the Company enters into
      a
      written agreement related to such other Business Relationship in which it is
      specifically stated that there is no termination of the Business Relationship
      under this agreement. This option shall not be affected by any change of
      employment within or among the Company and its Subsidiaries so long as the
      Optionee continuously remains an employee of the Company or any
      Subsidiary.

    

    5.           Death;
      Disability.

    

    (a)           Death.  Upon
      the death of the Optionee while the Optionee is maintaining a Business
      Relationship with the Company, this option may be exercised, to the extent
      of
      the number of Shares with respect to which the Optionee could have exercised
      it
      immediately prior to the Optionee’s death, by the Optionee’s estate, personal
      representative or beneficiary to whom this option has been transferred pursuant
      to Section 10, only at any time within 180 days after the date of
      death, but not later than the scheduled expiration date set forth on the cover
      page hereof.

    

    (b)           Disability.  If
      the Optionee ceases to maintain a Business Relationship with the Company by
      reason of his or her disability, this option may be exercised, to the extent
      of
      the number of Shares with respect to which the Optionee could have exercised
      it
      immediately prior to the termination of the Optionee’s Business Relationship
      with the Company, only at any time within 180 days after such termination,
      but not later than the scheduled expiration date set forth on the cover page
      hereof.  For purposes hereof, “disability” means “permanent
      and total disability” as defined in Section 22(e)(3) of the
      Code.

    

    (c)           Change
      of Control.  In the event of an Acquisition (as defined herein)
      prior to the full vesting of this option, the vesting of the option shall be
      accelerated and the Optionee shall have the right to exercise the option in
      full, at the moment immediately preceding the consummation of the
      Acquisition.  For purposes of this Plan, an “Acquisition” shall
      mean: (x) the sale of the Company by merger in which the shareholders of the
      Company in their capacity as such no longer own a majority of the outstanding
      equity securities of the Company (or its successor); or (y) any sale of all
      or
      substantially all of the assets or capital stock of the Company (other than
      in a
      spin-off or similar transaction) or (z) any other acquisition of the business
      of
      the Company, as determined by the Board.

    

    6.           Partial
      Exercise.  This option may be exercised in part at any time and
      from time to time within the above limits, except that this option may not
      be
      exercised for a fraction of a Share.

    

    7.           Payment
      of Exercise Price.

    

    (a)            Payment
      Options.  The exercise price shall be paid by one or any
      combination of the following forms of payment that are applicable to this
      option, as indicated on the cover page hereof:

    

    
      
         

      

      
         

        
          
-3-

      

      
         

      

    

    
      	
               

            	
              (i)

            	
              by
                cash or check payable to the order of the Company;
                or

            

    

    

    
      	
               

            	
              (ii)

            	
              if
                the Common Stock is then traded on a national securities exchange
                or on
                the Nasdaq Stock Market (or successor trading system), delivery of
                an
                irrevocable and unconditional undertaking, satisfactory in form and
                substance to the Company, by a creditworthy broker to deliver promptly
                to
                the Company sufficient funds to pay the exercise price, or delivery
                by the
                Optionee to the Company of a copy of irrevocable and unconditional
                instructions, satisfactory in form and substance to the Company,
                to a
                creditworthy broker to deliver promptly to the Company cash or a
                check
                sufficient to pay the exercise price;
                or

            

    

    

    
      	
               

            	
              (iii)

            	
              subject
                to Section 7(b) below, if the Common Stock is then traded on a
                national securities exchange or on the Nasdaq Stock Market (or successor
                trading system), by delivery of shares of Common Stock having a fair
                market value equal as of the date of exercise to the option
                price.

            

    

    

    In
      the
      case of (iii) above, fair market value as of the date of exercise shall be
      determined as of the last business day for which such prices or quotes are
      available prior to the date of exercise and shall mean (x) the last
      reported sale price (on that date) of the Common Stock on the principal national
      securities exchange on which the Common Stock is traded, if the Common Stock
      is
      then traded on a national securities exchange; or (y) the last reported
      sale price (on that date) of the Common Stock on the Nasdaq Stock Market (or
      successor trading system), if the Common Stock is not then traded on a national
      securities exchange.

    

    (b)           Limitations
      on Payment by Delivery of Common Stock.  If Section 7(a)(iii) is
      applicable, and if the Optionee delivers Common Stock held by the Optionee
      (“Old Stock”) to the Company in full or partial payment of the exercise
      price and the Old Stock so delivered is subject to restrictions or limitations
      imposed by agreement between the Optionee and the Company, an equivalent number
      of Shares shall be subject to all restrictions and limitations applicable to
      the
      Old Stock to the extent that the Optionee paid for the Shares by delivery of
      Old
      Stock, in addition to any restrictions or limitations imposed by this
      agreement.  Notwithstanding the foregoing, the Optionee may not pay
      any part of the exercise price hereof by transferring Common Stock to the
      Company unless such Common Stock has been owned by the Optionee free of any
      substantial risk of forfeiture for at least six months.

    

    8.           Securities
      Laws Restrictions on Resale. Until registered under the Securities Act of
      1933, as amended, or any successor statute (the “Securities Act”), the
      Shares will be illiquid and will be deemed to be “restricted securities” for
      purposes of the Securities Act.  Accordingly, such Shares must be sold
      in compliance with the registration requirements of the Securities Act or an
      exemption therefrom and may need to be held indefinitely.  Unless the
      Shares have been registered under the Securities Act, each certificate
      evidencing any of the Shares shall bear a restrictive legend specified by the
      Company.

    

    
      
         

      

      
         

        
          
-4-

      

      
         

      

    

    9.           Method
      of Exercising Option.  Subject to the terms and conditions of this
      agreement, this option may be exercised by written notice to the Company at
      its
      principal executive office, or to such transfer agent as the Company shall
      designate.  Such notice shall state the election to exercise this
      option and the number of Shares for which it is being exercised and shall be
      signed by the person or persons so exercising this option.  Such
      notice shall be accompanied by payment of the full purchase price of such
      Shares, and the Company shall deliver a certificate or certificates representing
      such Shares as soon as practicable after the notice shall be
      received.  Such certificate or certificates shall be registered in the
      name of the person or persons so exercising this option (or, if this option
      shall be exercised by the Optionee and if the Optionee shall so request in
      the
      notice exercising this option, shall be registered in the name of the Optionee
      and another person jointly, with right of survivorship). In the event this
      option shall be exercised, pursuant to Section 5 hereof, by any person or
      persons other than the Optionee, such notice shall be accompanied by appropriate
      proof of the right of such person or persons to exercise this
      option.

    

    10.           Option
      Not Transferable.  This option is not transferable or assignable
      except by will or by the laws of descent and distribution.  During the
      Optionee’s lifetime only the Optionee can exercise this option.

    

    11.           No
      Obligation to Exercise Option.  The grant and acceptance of this
      option imposes no obligation on the Optionee to exercise it.

    

    12.           No
      Obligation to Continue Business Relationship.  Neither the Plan,
      this agreement, nor the grant of this option imposes any obligation on the
      Company to continue the Optionee in employment or other Business
      Relationship.

    

    13.           No
      Severance or Termination Rights.  With respect to employees of the
      Company, awards under this Plan do not form part of an Optionee’s contract of
      employment and do not entitle an Optionee to any benefit other than that granted
      under this Plan.  Any benefits granted under this Plan are not part of
      an Optionee’s ordinary salary, and shall not be considered as part of such
      salary for pension purposes or in the event of severance, redundancy or
      resignation.  If Optionee’s employment is terminated for whatever
      reason the Optionee agrees that he or she shall not be entitled by way of
      damages for breach of contract, dismissal or compensation for loss of office
      or
      otherwise to any sum, Shares or other benefits to compensate for the loss or
      diminution in value of any actual or prospective right, benefits or expectation
      under or in relation to the Plan.

    

    14.           Adjustments.  Except
      as is expressly provided in the Plan with respect to certain changes in the
      capitalization of the Company, no adjustment shall be made for dividends or
      similar rights for which the record date is prior to such date of
      exercise.

    

    15.           Withholding
      Taxes.  If the Company in its discretion determines that it is
      obligated to withhold any tax in connection with the grant, vesting or exercise
      of this option, or in connection with the transfer of, or the lapse of
      restrictions on, any Common Stock or other property acquired pursuant to this
      option, the Optionee hereby agrees that the Company may 

     

    
      
         

      

      
         

        
          
-5-

      

      
         

      

    

    withhold
      from the Optionee’s wages or other remuneration the appropriate amount of tax.
      At the discretion of the Company, the amount required to be withheld may be
      withheld in cash from such wages or other remuneration or in kind from the
      Common Stock or other property otherwise deliverable to the Optionee on exercise
      of this option.  The Optionee further agrees that, if the Company does
      not withhold an amount from the Optionee’s wages or other remuneration
      sufficient to satisfy the withholding obligation of the Company, the Optionee
      will make reimbursement on demand, in cash, for the amount
      underwithheld.

    

    16.           Provision
      of Documentation to Optionee.  By signing this agreement the
      Optionee acknowledges receipt of a copy of this agreement and a copy of the
      Plan.

    

    17.           Transfer
      of Data Waiver.  By signing this agreement the Optionee
      acknowledges that in order to perform its requirements under the Plan, the
      Company may process personal data and/or sensitive personal data about the
      Optionee.  Such data includes, but is not limited to, the information
      provided in this grant package and any changes thereto, other appropriate
      personal and financial data about the Optionee, and information about the
      Optionee’s participation in the Plan and Shares exercised under the Plan from
      time to time.  The Optionee hereby gives explicit consent to the
      Company to process any such personal data and/or sensitive personal
      data.  The Optionee also gives explicit consent to the Company to
      transfer any such personal data and/or sensitive personal data outside the
      country in which the Optionee works and to the United States.  The
      legal persons for whom the personal data is intended include the Company and
      any
      of its subsidiaries, the outside plan administrator as selected by the Company
      from time to time, and any other person that the Company may find in its
      administration of the Plan appropriate.  By signing this agreement,
      the Optionee acknowledges that he has been informed of his right of access
      to
      and correction of personal data by contacting the local Human Resources
      Representative.  Optionee further acknowledges that the transfer of
      the information outlined here is important to the administration of the Plan
      and
      failure to consent to the transmission of such information may limit or prohibit
      participation under the Plan.

    

    18.           Miscellaneous.

    

    (a)           Notices.  All
      notices hereunder shall be in writing and shall be deemed given when sent by
      mail, if to the Optionee, to the address set forth below or at the address
      shown
      on the records of the Company, and if to the Company, to the Company’s principal
      executive offices, attention of the Corporate Secretary.

    

    (b)           Entire
      Agreement; Modification.  This agreement constitutes the entire
      agreement between the parties relative to the subject matter hereof, and
      supersedes all proposals, written or oral, and all other communications between
      the parties relating to the subject matter of this agreement. This agreement
      may
      be modified, amended or rescinded only by a written agreement executed by both
      parties.

    

    (c)           Fractional
      Shares. If this option becomes exercisable for a fraction of a Share because
      of the adjustment provisions contained in the Plan, such fraction shall be
      rounded down.

    

    
      
         

      

      
         

        
          
-6-

      

      
         

      

    

    (d)           Issuances
      of Securities; Changes in Capital Structure. Except as expressly provided
      herein or in the Plan, no issuance by the Company of shares of stock of any
      class, or securities convertible into shares of stock of any class, shall
      affect, and no adjustment by reason thereof shall be made with respect to,
      the
      number or price of Shares subject to this option.  No adjustments need
      be made for dividends paid in cash or in property other than securities of
      the
      Company. If there shall be any change in the Common Stock of the Company through
      merger, consolidation, reorganization, recapitalization, stock dividend, stock
      split, combination or exchange of shares, spin-off, split-up or other similar
      change in capitalization or event, the restrictions contained in this agreement
      shall apply with equal force to additional and/or substitute securities, if
      any,
      received by the Optionee in exchange for, or by virtue of his or her ownership
      of, Shares, except as otherwise determined by the Board.

    

    (e)           Severability.  The
      invalidity, illegality or unenforceability of any provision of this agreement
      shall in no way affect the validity, legality or enforceability of any other
      provision.

    

    (f)           Successors
      and Assigns.  This agreement shall be binding upon and inure to
      the benefit of the parties hereto and their respective successors and assigns,
      subject to the limitations set forth in Section 10 hereof.

    

    (g)           Governing
      Law.  This agreement shall be governed by and interpreted in
      accordance with the laws of the State of Delaware, without giving effect to
      the
      principles of the conflicts of laws thereof.

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