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Exhibit 10.9

CONSULTING AGREEMENT 

 

This Agreement (hereinafter referred to as "Agreement") is made and entered into by and between HR Asset Partners (hereinafter referred to as “Consultant”) located at 109 Pine Tree Lane, Altamonte Springs, FL 32714, and Bel Fuse Inc. (hereinafter referred to as “Bel”) located at 206 Van Vorst Street, Jersey City, NJ 07302.

 

Bel desires to retain Consultant to render consulting and advisory services on the terms and conditions set forth in this Agreement, and Consultant desires to be retained by Bel on such terms and conditions.

 

 

Now, therefore, Bel and Consultant agree as follows:

 

Retention of Consultant; Services to be Performed. Bel hereby retains Consultant for the term of this Agreement to perform the consulting services set forth in Schedule A for Bel ("Services").

 

In rendering Services hereunder, Consultant shall act as an independent contractor and not as an employee or agent of Bel. As independent contractors, neither Consultant nor Bel shall have any authority, express or implied, to commit or obligate the other in any manner whatsoever, except as specifically authorized from time to time in writing by an authorized representative of Consultant or Bel, which authorization may be general or specific. Nothing contained in this Agreement shall be construed or applied to create a partnership. Consultant shall be responsible for paying all federal, state, or local taxes payable concerning all amounts paid to Consultant under this Agreement. 

 

Compensation for Consulting Services. For Services hereunder, Bel shall pay to Consultant fees outlined in Schedule A, and in any other amendments to Schedule A which are agreed to in writing by both parties.

 

Bel may at any time request in writing changes to the work in the form of modifications, additions, or omissions. If such changes result in increases to the assessment cost, the Consultant will provide Bel with a revised written estimate, based on the revised scope of work, for Bel’s approval in writing.

 

 

Billing. Refer to Schedule A for billing procedures related to this Agreement.

 

 

Confidentiality and Non-Disclosure. The Consultant acknowledges and agrees that the information provided by Bel is confidential and proprietary and will not disclose any of the Confidential Information for its use or for any other purpose whatsoever, other than that required for discussions with Bel-approved employees, without prior written consent.

 

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Legal Disputes. In the event a dispute shall arise between the parties to this Agreement, the parties agree to participate in at least four hours of mediation in accordance with the mediation procedures of United States Arbitration & Mediation. The parties agree to share equally in the costs of the mediation.

 

Termination. This Agreement shall be terminated when either party gives at least 15 days written notice to the other party of the intent to terminate this Agreement. 

 

Entire Agreement. This Agreement embodies the entire Agreement and understanding between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings relating to the subject matter hereof.

 

Authority. The parties executing this Agreement represent and certify that they are of lawful age and authorized to enter into this Agreement on behalf of their respective companies. The parties certify that they are officers of their respective corporations and have the authority to execute this Agreement by their signature.

 

Miscellaneous. All the terms of this Agreement, whether so expressed or not, shall be binding upon the respective successors and assigns of the parties hereto and shall be enforceable by the parties hereto and their respective successors and assigns.

 

By signing this Agreement, Bel acknowledges that it has read and agrees to the proposal, project objectives, assessment design, project scope and schedule, project compensation, and terms outlined for the Organization Development Risk Assessment. The Consultant agrees to perform the work as outlined in the proposal.

 

The parties hereby acknowledge their acceptance of the terms of this Agreement as evidenced by the execution of their signatures below:

 

	
			ACKNOWLEDGED AND ACCEPTED:

			 

			/s/ Jacqueline Brito

				 	
			/s/ Sherry L. Urban

			
	
			Authorized Signature for Consultant

				 	
			Authorized Signature for Bel Fuse Inc.

			
	 	 	 
	
			Jacqueline Brito, Principal and Founder

				 	Sherry L. Urban
	
			Printed Name                                            

				 	
			Printed Name

			
	 	 	 
	
			10/15/2021

				 	
			10/15/2021

			
	
			Date (“Effective Date”)

				 	
			Date (“Effective Date”)

			

PLEASE SIGN WITH BLUE PEN

 

 

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SCHEDULE A – SERVICES TO BE PERFORMED

 

INTRODUCTION

 

HR Asset Partners LLC is an organization development consulting firm that believes in building legacies that promote the ethical integrity, emotional intelligence, and fiscal wellbeing of individuals, organizations, and communities. We establish mutual trust, identify your unique needs, and deliver informed recommendations for tangible results.

 

SITUATIONAL OVERVIEW

 

Founded in 1949, Bel continues to design, manufacture, and market a broad array of products that power, protect and connect electronic circuits.1 Their developments impact every facet of our existence from commercial aerospace, military, medical, space, and beyond.

 

Established as a “formidable competitor on a global basis”2, turnover at Bel has increased in both professional and non-professional positions during the past year. To maintain its competitive edge and ensure market share, Bel is interested in procuring a professional services consulting firm, HR Asset Partners, in conducting an organization risk assessment.

 

ASSESSMENT OBJECTIVES

 

The primary objectives of the organization risk assessment are to:

 

	 	
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			Determine Bel’s culture (and potential sub-cultures) that could be impacting turnover.

			

	 	
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			Assess its strengths, weaknesses, opportunities, and threats.

			

	 	
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			Identify barriers – real or perceived – to a healthy work environment.

			

	 	
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			Establish a baseline of information to help inform the Company of the assumptions, norms, philosophies, and values of their executive leadership team and front-line employees.  

			

	 	
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			Provide recommendations to address existing barriers to prevent risks to a healthy, sustainable organizational culture that fosters quality recruitment and retention efforts.

			

 

ASSESSMENT DESIGN

 

Following a discovery process to include reviewing pertinent historical data provided by Bel, the recommended design will consist of the following:

 

Phase I – Key Influencer Interviews (Qualitative Study)

The recommendation is to conduct 15 virtual interviews with key influencers (including the CEO). This step will yield a baseline understanding of their collective values, beliefs, and perceptions and how they have the potential to influence the behavior of others. Each one-on-one conversation will last approximately 45 - 60 minutes.

 

 

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Phase II – Employee Focus Groups (Qualitative Study)

 

The recommendation is to convene 7 focus groups of 5 - 7 employees. This approach will provide opportunities to delve deeply into identifying the “real issues;” attitudes most prevalent in Bel. A comprehensive moderator’s guide outlining the core objectives of each group and modifying questions. Each session will last approximately 90 – 120 minutes.

 

Phase III – Online Risk Assessment Survey (Quantitative Study)

The recommendation is to provide every Bel employee who didn’t participate in Phase I or II the opportunity to contribute through this anonymous feedback tool. Plus, the survey will validate significant perceptions discovered in the qualitative assessments.

 

PROJECT SCOPE  

 

	 	
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			Consulting and project management

			

	 	
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			Conduct 15 individual key influencer interviews (45 - 60 minutes each)

			

	 	
			●

				
			Facilitate 7 employee focus group sessions of 5-7 employees (90-120 minutes each)

			

	 	
			●

				
			Develop influencer interview questions and comprehensive focus group moderator guide(s)

			

	 	
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			Online survey questionnaire design, programming, testing, deployment, and field management

			

	 	
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			Data processing and analysis

			

	 	
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			Final report of key findings and recommendations

			

 

PROJECT SCHEDULE 

The project duration is estimated to span approximately 11 weeks (considering Bel-approved employee holidays included).

 

	 	
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			The following represents a general project duration.  

			

	 	
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			Should estimation or calendar dates change for any reason after the project schedule is approved, an updated schedule will be provided.

			

	
			 

			Task

				
			 October

				
			November

				
			 December

				
			January

			
	
			Discovery

				X	 	 	 
	
			Influencer Interviews

				 	X	 	 
	
			Facilitated Focus Groups

				 	X	 	 
	
			Survey Development, Review & Approval

				 	X	 	 
	
			Survey Testing

				 	X	 	 
	
			Administer Online Survey

				 	 	X	 
	
			Data Analysis

				 	 	X	 
	
			Report of Key Findings & Recommendations

				 	 	 	X

 

Note expected delivery of the Report of Key Findings by January 7, 2022.

 

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HR Asset Partners will provide the services outlined for the sole purpose of conducting an organization risk assessment. Consultant agrees not to perform any human resource functions or act as an agent of Bel when receiving information from their employees in connection with Consultant’s services. Consultant agrees to not hold itself out as an agent of Bel to its employees. 

 

PROJECT COMPENSATION: $88,953.00

 

TERMS: A project deposit of 33.3% of the total lump sum fee invoiced upon approval of the Agreement and 33.3% at the beginning of Phase III. The project balance will be invoiced upon delivery of the report of key findings.

 

__________________________________________

 

	 	
			1.

				
			https://www.belfuse.com/home/about-us 

			

 

 

	 	
			2.

				
			Ibid.Document

CONFORMIS, INC. NONSTATUTORY STOCK OPTION AGREEMENT

Inducement Grant

Conformis, Inc. (the “Company”) hereby grants the following stock option. The terms and conditions attached hereto are also a part hereof.

Notice of Grant

						
	Name of optionee (the “Participant”):
	Denise Pedulla
	Grant Date:
	March 14, 2022
	Number of shares of the Company’s Common Stock subject to this option (“Shares”):
	450,000
	Option exercise price per Share:
	0.61
	Vesting Start Date:
	March 14, 2022
	Final Exercise Date:
	March 14, 2032

Vesting Schedule:

						
	Vesting Date:
	Number of Options that Vest:

	March 14, 2023
	8% of the Shares
	March 14, 2024
	10% of the Shares
	March 14, 2025
	15% of the Shares
	March 14, 2026
	20% of the Shares
	March 14, 2027
	20% of the Shares
	March 14, 2028
	15% of the Shares
	March 14, 2029
	8% of the Shares
	March 14, 2030
	4% of the Shares
	Except as provided herein, all vesting is dependent on the Participant remaining an Eligible Participant, as provided herein.

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

						
	Participant	Conformis, Inc.
	

                    
Denise Pedulla
	

By:                    
      Mark Augusti
      President & CEO

	                    
Street Address
	
	

                    
City/State/Zip Code

			
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Conformis, Inc.

Nonstatutory Stock Option Agreement Incorporated Terms and Conditions

1.Grant of Option.

This agreement evidences the grant by the Company, on the grant date (the “Grant Date”) set forth in the Notice of Grant that forms part of this agreement (the “Notice of Grant”) to the Participant of an option to purchase, in whole or in part, on the terms provided herein, the number of Shares set forth in the Notice of Grant of common stock, $0.00001 par value per share, of the Company (“Common Stock”) at the exercise price per Share set forth in the Notice of Grant. Unless earlier terminated, this option shall expire at 5:00 p.m., Eastern time, on the Final Exercise Date set forth in the Notice of Grant (the “Final Exercise Date”).

The option evidenced by this agreement was granted to the Participant pursuant to the inducement grant exception under Nasdaq Stock Market Rule 5635(c)(4), and not pursuant to the Company’s 2015 Stock Incentive Plan (the “Plan”) or any other equity incentive plan of the Company, as an inducement that is material to the Participant entering into employment with the Company.

It is intended that the option evidenced by this agreement shall not be an incentive stock option as defined in Section 422 of the Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder (the “Code”). Except as otherwise indicated by the context, the term “Participant”, as used in this option, shall be deemed to include any person who acquires the right to exercise this option validly under its terms.

2.Vesting Schedule.

This option will become exercisable (“vest”) in accordance with the vesting schedule set forth on the Notice of Grant. Notwithstanding anything to the contrary in this agreement, this option shall be subject to the accelerated vesting provisions set forth in Section 3.5 of that certain employment agreement by and between the Company and the Participant effective as of February 28, 2022 (the “Employment Agreement”).

The right of exercise shall be cumulative so that to the extent the option is not exercised in any period to the maximum extent permissible it shall continue to be exercisable, in whole or in part, with respect to all Shares for which it is vested until the earlier of the Final Exercise Date or the termination of this option under Section 3 hereof.

3.Exercise of Option.

(a)Form of Exercise. Each election to exercise this option shall be in writing, in the form of the Stock Option Exercise Notice attached as Annex A, signed by the Participant, and received by the Company at its principal office, accompanied by this agreement, or in such other form (which may be electronic) as is approved by the Company, together with payment in full as follows:
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(1)in cash or by check, payable to the order of the Company;

(2)except as may otherwise be approved by the Board of Directors of the Company (the “Board”), in its sole discretion, by (i) delivery of an irrevocable and unconditional undertaking by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price and any required tax withholding or (ii) delivery by the Participant to the Company of a copy of irrevocable and unconditional instructions to a creditworthy broker to deliver promptly to the Company cash or a check sufficient to pay the exercise price and any required tax withholding;

(3)to the extent approved by the Board, in its sole discretion, by delivery (either by actual delivery or attestation) of shares of Common Stock owned by the Participant valued at their fair market value per share of Common Stock as determined by (or in a manner approved by) the Board (“Fair Market Value”), provided (i) such method of payment is then permitted under applicable law, (ii) such Common Stock, if acquired directly from the Company, was owned by the Participant for such minimum period of time, if any, as may be established by the Board in its discretion and (iii) such Common Stock is not subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements;

(4)to the extent approved by the Board in its sole discretion, by delivery of a notice of “net exercise” to the Company, as a result of which the Participant would receive (i) the number of shares underlying the portion of this option being exercised, less (ii) such number of shares as is equal to (A) the aggregate exercise price for the portion of this option being exercised divided by (B) the Fair Market Value on the date of exercise;

(5)to the extent permitted by applicable law and approved by the Board, in its sole discretion, by payment of such other lawful consideration as the Board may determine; or

(6)by any combination of the above permitted forms of payment.

The Participant may purchase less than the number of shares covered hereby, provided that no partial exercise of this option may be for any fractional share.

(b)Continuous Relationship with the Company Required. Except as otherwise provided in this Section 3, this option may not be exercised unless the Participant, at the time he exercises this option, is, and has been at all times since the Grant Date, an employee, director or officer of, or consultant or advisor to, the Company or any other entity the employees, officers, directors, consultants, or advisors of which are eligible to receive option grants under the Plan (an “Eligible Participant”).

(c)Termination of Relationship with the Company. If the Participant ceases to be an Eligible Participant for any reason, then, except as provided in paragraphs (d) and (e) below, the right to exercise this option shall terminate three months after such cessation (but in no event after the Final Exercise Date), provided that this option shall be exercisable only to the extent that the Participant was entitled to exercise this option on the date of such cessation. Notwithstanding the foregoing, if the Participant, prior to the Final Exercise Date, violates the

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non-competition or confidentiality provisions of any employment contract, confidentiality and nondisclosure agreement or other agreement between the Participant and the Company, the right to exercise this option shall terminate immediately upon such violation.

(d)Exercise Period Upon Death or Disability. If the Participant dies or becomes disabled (within the meaning of Section 22(e)(3) of the Code) prior to the Final Exercise Date while he is an Eligible Participant and the Company has not terminated such relationship for “cause” as specified in paragraph (e) below, this option shall be exercisable, within the period of one year following the date of death or disability of the Participant, by the Participant (or in the case of death by an authorized transferee), provided that this option shall be exercisable only to the extent that this option was exercisable by the Participant on the date of his or her death or disability, and further provided that this option shall not be exercisable after the Final Exercise Date.

(e)Termination for Cause. If, prior to the Final Exercise Date, the Participant’s employment or other relationship with the Company is terminated by the Company for Cause (as defined below), the right to exercise this option shall terminate immediately upon the effective date of such termination of employment or other relationship. “Cause” shall have the meaning set forth in any employment or other agreement between the Participant and the Company or, in the absence of such an agreement, shall mean, in the good faith determination of the Company, the Participant has: (i) committed gross negligence or willful malfeasance in the performance of the Participant’s work or duties; (ii) committed a breach of fiduciary duty or a breach of any non- competition, non-solicitation or confidentiality obligations to the Company; (iii) failed to follow the proper directions of the Participant’s direct or indirect supervisor after written notice of such failure; (iv) been convicted of, or pleaded “guilty” or “no contest” to, any misdemeanor relating to the affairs of the Company or any felony; (v) disregarded the material rules or material policies of the Company which has not been cured within 15 days after notice thereof from the Company; or (vi) engaged in intentional acts that have generated material adverse publicity toward or about the Company.

4.Withholding.

No Shares will be issued pursuant to the exercise of this option nor will the Company otherwise recognize ownership of Common Stock under this option unless and until the Participant pays to the Company, or makes provision satisfactory to the Company for payment of, any federal, state or local withholding taxes required by law to be withheld in respect of this option. The Company may decide to satisfy the withholding obligations through additional withholding on salary or wages. If the Company elects not to or cannot withhold from other compensation, the Participant must pay the Company the full amount, if any, required for withholding or have a broker tender to the Company cash equal to the withholding obligations. Payment of withholding obligations is due before the Company will issue any shares on exercise of this option or at the same time as payment of the exercise price, unless the Company determines otherwise. If approved by the Board in its sole discretion, the Participant may satisfy such tax obligations in whole or in part by delivery (either by actual delivery or attestation) of shares of Common Stock, including shares of Common Stock underlying this option, valued at their Fair Market Value; provided, however, except as otherwise provided by the Board, that the
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total tax withholding where stock is being used to satisfy such tax obligations cannot exceed the Company’s minimum statutory withholding obligations (based on minimum statutory withholding rates for federal and state tax purposes, including payroll taxes, that are applicable to such supplemental taxable income). Shares used to satisfy tax withholding requirements cannot be subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements.

5.Transfer Restrictions; Clawback.

(a)This option may not be sold, assigned, transferred, pledged or otherwise encumbered by the Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the lifetime of the Participant, this option shall be exercisable only by the Participant; provided, however, that the Board may permit for the gratuitous transfer of this option by the Participant to or for the benefit of any immediate family member, family trust or other entity established for the benefit of the Participant and/or an immediate family member thereof if the Company would be eligible to use a Form S-8 under the Securities Act for the registration of the sale of the Common Stock subject to this option to such proposed transferee; provided further, that the Company shall not be required to recognize any such permitted transfer until such time as such permitted transferee shall, as a condition to such transfer, deliver to the Company a written instrument in form and substance satisfactory to the Company confirming that such transferee shall be bound by all of the terms and conditions of this option. For the avoidance of doubt, nothing contained in this Section 5 shall be deemed to restrict a transfer to the Company.

(b)In accepting this option, the Participant agrees to be bound by any clawback policy that the Company has in place or may adopt in future.

6.Adjustments for Changes in Common Stock and Certain Other Events.

(a)Changes in Capitalization. In the event of any stock split, reverse stock split, stock dividend, recapitalization, combination of shares, reclassification of shares, spin-off or other similar change in capitalization or event, or any dividend or distribution to holders of Common Stock other than an ordinary cash dividend, the number and class of securities and exercise price per share of this option shall be equitably adjusted by the Company in the manner determined by the Board. Without limiting the generality of the foregoing, in the event the Company effects a split of the Common Stock by means of a stock dividend and the exercise price of and the number of shares subject to this option are adjusted as of the date of the distribution of the dividend (rather than as of the record date for such dividend), then the Participant, if he exercises this option between the record date and the distribution date for such stock dividend, shall be entitled to receive, on the distribution date, the stock dividend with respect to the shares of Common Stock acquired upon exercise of this option, notwithstanding the fact that such shares were not outstanding as of the close of business on the record date for such stock dividend.

(b)Reorganization Events.

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(1)A “Reorganization Event” shall mean: (a) any merger or consolidation of the Company with or into another entity as a result of which all of the Common Stock of the Company is converted into or exchanged for the right to receive cash, securities or other property or is cancelled, (b) any transfer or disposition of all of the Common Stock of the Company for cash, securities or other property pursuant to a share exchange or other transaction or (c) any liquidation or dissolution of the Company.

(2)In connection with a Reorganization Event, the Board may take any one or more of the following actions with respect to this option (or any portion thereof) on such terms as the Board determines: (i) provide that this option shall be assumed, or substantially equivalent option shall be substituted, by the acquiring or succeeding corporation (or an affiliate thereof),
(ii) upon written notice to the Participant, provide that the unvested and/or unexercised portion of this option will terminate immediately prior to the consummation of such Reorganization Event unless exercised by the Participant (to the extent then exercisable) within a specified period following the date of such notice, (iii) provide that this option shall become exercisable, realizable, or deliverable, or restrictions applicable to this option shall lapse, in whole or in part prior to or upon such Reorganization Event, (iv) in the event of a Reorganization Event under the terms of which holders of Common Stock will receive upon consummation thereof a cash payment for each share surrendered in the Reorganization Event (the “Acquisition Price”), make or provide for a cash payment to the Participant with respect to this option equal to (A) the number of shares of Common Stock subject to the vested portion of this option (after giving effect to any acceleration of vesting that occurs upon or immediately prior to such Reorganization Event) multiplied by (B) the excess, if any, of (I) the Acquisition Price over
(II) the exercise price of this option and any applicable tax withholdings, in exchange for the termination of this option, (v) provide that, in connection with a liquidation or dissolution of the Company, this option shall convert into the right to receive liquidation proceeds (net of the exercise price thereof and any applicable tax withholdings) and (vi) any combination of the foregoing.

(3)For purposes of clause 6(b)(2)(i) above, this option shall be considered assumed if, following consummation of the Reorganization Event, this option confers the right to purchase, for each share of Common Stock subject to this option immediately prior to the consummation of the Reorganization Event, the consideration (whether cash, securities or other property) received as a result of the Reorganization Event by holders of Common Stock for each share of Common Stock held immediately prior to the consummation of the Reorganization Event (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding shares of Common Stock); provided, however, that if the consideration received as a result of the Reorganization Event is not solely common stock of the acquiring or succeeding corporation (or an affiliate thereof), the Company may, with the consent of the acquiring or succeeding corporation, provide for the consideration to be received upon the exercise of this option to consist solely of such number of shares of common stock of the acquiring or succeeding corporation (or an affiliate thereof) that the Board determined to be equivalent in value (as of the date of such determination or another date specified by the Board) to the per share consideration received by holders of outstanding shares of Common Stock as a result of the Reorganization Event.

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7.Miscellaneous.

(a)No Right To Employment or Other Status. The grant of this option shall not be construed as giving the Participant the right to continued employment or any other relationship with the Company. The Company expressly reserves the right at any time to dismiss or otherwise terminate its relationship with the Participant free from any liability or claim hereunder, except as otherwise expressly provided herein or provided for in the Employment Agreement.

(b)No Rights As Stockholder. Subject to the provisions of this option,
the Participant shall not have any rights as a stockholder with respect to any shares of Common Stock to be distributed with respect to this option until becoming the record holder of such shares.

(c)Amendment. The Board may amend, modify or terminate this agreement, including but not limited to, substituting another option of the same or a different type and changing the date of exercise or realization. Notwithstanding the foregoing, the Participant’s consent to such action shall be required unless (i) the Board determines that the action, taking into account any related action, does not materially and adversely affect the Participant, or
(ii) the change is permitted under Section 6 hereof or by the Employment Agreement.

(d)Acceleration. The Board may at any time provide that this option shall become immediately exercisable in whole or in part, free of some or all restrictions or conditions, or otherwise realizable in whole or in part, as the case may be.

(e)Conditions on Delivery of Stock. The Company will not be obligated to deliver any shares of Common Stock pursuant to this agreement until (i) all conditions of this agreement have been met to the satisfaction of the Company, (ii) in the opinion of the Company’s counsel, all other legal matters in connection with the issuance and delivery of such shares have been satisfied, including any applicable securities laws and regulations and any applicable stock exchange or stock market rules and regulations, and (iii) the Participant has executed and delivered to the Company such representations or agreements as the Company may consider appropriate to satisfy the requirements of any applicable laws, rules or regulations.

(f)Administration by Board. The Board will administer this agreement and may construe and interpret the terms hereof. The Board may correct any defect, supply any omission or reconcile any inconsistency in this option in the manner and to the extent it shall deem expedient to carry this agreement into effect and it shall be the sole and final judge of such expediency. All decisions by the Board shall be made in the Board’s sole discretion and shall be final and binding on the Participant. No individual acting as a director, officer, employee or agent of the Company will be liable to the Participant or any other person for any claim, loss, liability, or expense incurred in connection with this option, nor will such individual be personally liable with respect to this option because of any contract or other instrument he or she executes in his or her capacity as a director, officer, employee or agent of the Company. The Company will indemnify and hold harmless each director, officer, employee or agent of the Company to whom any duty or power relating to the administration or interpretation of this
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option has been or will be delegated, against any cost or expense (including attorneys’ fees) or liability (including any sum paid in settlement of a claim with the Board’s approval) arising out of any act or omission to act concerning the option unless arising out of such person’s own fraud or bad faith.

(g)Appointment of Committees. To the extent permitted by applicable law, the Board may delegate any or all of its powers hereunder to one or more committees or subcommittees of the Board (a “Committee”). All references herein to the “Board” shall mean the Board or a Committee to the extent that the Board’s powers or authority hereunder have been delegated to such Committee.

(h)Entire Agreement. This Agreement, together with the Employment Agreement, constitutes the entire agreement between the parties, and supersedes all prior agreements and understandings, relating to the subject matter hereof.

(i)Governing Law. This agreement shall be governed by and interpreted in accordance with the laws of the State of Delaware, excluding choice-of-law principles of the law of such state that would require the application of the laws of a jurisdiction other than the State of Delaware.

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Conformis, Inc.
600 Technology Park Drive Billerica, MA 01821

ANNEX A

Conformis, Inc.

Stock Option Exercise Notice

			
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Dear Sir or Madam:

I,    (the “Participant”), hereby irrevocably exercise the right to purchase       shares of the Common Stock, $0.00001 par value per share (the “Shares”), of Conformis, Inc. (the “Company”) at $        per share pursuant to a stock option agreement with the Company dated        (the “Option Agreement”). Enclosed herewith is a payment of $  , the aggregate purchase price for the Shares. The certificate for the Shares should be registered in my name as it appears below or, if so indicated below, jointly in my name and the name of the person designated below, with right of survivorship.

Dated:

Signature Print Name:

Address:

Name and address of persons in whose name the Shares are to be jointly registered (if applicable):

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