Document:

exv10w31

 

Exhibit 10.31

RESTRICTED STOCK AGREEMENT

OXiGENE, INC.

     AGREEMENT made as of the                     
day of                                         
, 200                    
(the “Grant Date”), between
OXiGENE, Inc., a Delaware corporation having its principal place of business at 230 Third Avenue,
Waltham, Massachusetts 02451 (the “Company”), and                                        
(the “Participant”).

     WHEREAS, the Company has adopted the 2005 Stock Plan (the “Plan”) to promote the interests of
the Company by providing an incentive for employees, directors and consultants of the Company or
its Affiliates;

     WHEREAS, pursuant to the provisions of the Plan, the Company desires to offer for sale to the
Participant shares of the Company’s common stock, $0.01 par value per share (“Common Stock”), in
accordance with the provisions of the Plan, all on the terms and conditions hereinafter set forth;

     WHEREAS, Participant wishes to accept said offer; and

     WHEREAS, the parties hereto understand and agree that any terms used and not defined herein
have the meanings ascribed to such terms in the Plan.

     NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein and
for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:

     1. Terms of Purchase. The Participant hereby accepts the offer of the Company to
issue to the Participant, in accordance with the terms of the Plan and this Agreement,
                                        
Shares of the Company’s Common Stock (such shares, subject to adjustment pursuant
to Section 24 of the Plan and Subsection 2.1(h) hereof, the “Granted Shares”) at a purchase price
per share of $[0.01] (the “Purchase Price”), receipt of which is hereby acknowledged by the
Participant’s prior service to the Company and which amount will be reported as income on the
Participant’s W-2 for this calendar year.

     2.1. Company’s Lapsing Repurchase Right.

     (a) Lapsing Repurchase Right. In the event that for any reason the Participant is no
longer an employee, director or consultant of the Company or an Affiliate prior to
                                        
(the “Termination”), the Participant (or the Participant’s Survivor) shall, on
the date of Termination, immediately forfeit to the Company (or its designee) all of the Granted
Shares which have not yet lapsed in accordance with the schedule set forth below (the “Lapsing
Repurchase Right”).

 

 

     The Company’s Lapsing Repurchase Right is as follows:

          (i) If the Participant’s Termination is prior to [the first anniversary of the Grant
Date], all of the Granted Shares shall be forfeited to the Company.

          (ii) If the Participant’s Termination is on or after [the first anniversary of the
Grant Date] but prior to     
           
          
           
    ,       
              %
of the Granted Shares shall be forfeited to
the Company.

     (b) Effect of Termination for Disability or upon Death. The following rules apply if
the Participant’s Termination is by reason of Disability or death: to the extent the Company’s
Lapsing Repurchase Right has not lapsed as of the date of Disability or death, as case may be, the
Participant shall forfeit to the Company any or all of the Granted Shares subject to such Lapsing
Repurchase Right; provided, however, that the Company’s Lapsing Repurchase Right shall be deemed to
have lapsed to the extent of a pro rata portion of the Granted Shares through the date of
Disability or death, as would have lapsed had the Participant not become Disabled or died, as the
case may be. The proration shall be based upon the number of days accrued in such current vesting
period prior to the Participant’s date of Disability or death, as the case may be.

     (c) Effect of a For Cause Termination. Notwithstanding anything to the contrary
contained in this Agreement, in the event the Company or an Affiliate terminates the Participant’s
employment or service for Cause (as defined in the Plan) or in the event the Administrator
determines, within one year after the Participant’s termination, that either prior or subsequent to
the Participant’s termination the Participant engaged in conduct that would constitute Cause, all
of the Granted Shares then held by the Participant shall be forfeited to the Company immediately as
of the time the Participant is notified that he or she has been terminated for Cause or that he or
she engaged in conduct which would constitute Cause.

     (d) Effect of Change of Control. Except as otherwise provided in Subsection 2.1(c)
above, the Company’s Lapsing Repurchase Right shall terminate, and the Participant’s ownership of
all Granted Shares then owned by the Participant shall become vested immediately prior to a change
of control of the Company. See the Adjustments section B. Corporate Transactions of the Plan Description for a description of a
change of control of the Company.

     (e) Escrow. The certificates representing all Granted Shares acquired by the
Participant hereunder which from time to time are subject to the Lapsing Repurchase Right shall be
delivered to the Company and the Company shall hold such Granted Shares in escrow as provided in
this Subsection 2.1(e). The Company shall promptly release from escrow and deliver to the
Participant a certificate for the whole number of Granted Shares, if any, as to which the Company’s
Lapsing Repurchase Right has lapsed. In the event of forfeiture to the Company of Granted Shares
subject to the Lapsing Repurchase Right, the Company shall release from escrow and cancel a
certificate for the number of Granted Shares so forfeited. Any securities distributed in respect
of the Granted Shares held in escrow, including, without limitation, shares issued as a result of
stock splits, stock dividends or other recapitalizations, shall also be held in escrow in the same
manner as the Granted Shares.

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     (f) Prohibition on Transfer. The Participant recognizes and agrees that all Granted
Shares which are subject to the Lapsing Repurchase Right may not be sold, transferred, assigned,
hypothecated, pledged, encumbered or otherwise disposed of, whether voluntarily or by operation of
law, other than to the Company (or its designee). However, the Participant, with the approval of
the Administrator, may transfer the Granted Shares for no consideration to or for the benefit of
the Participant’s Immediate Family (including, without limitation, to a trust for the benefit of
the Participant’s Immediate Family or to a partnership or limited liability company for one or more
members of the Participant’s Immediate Family), subject to such limits as the Administrator may
establish, and the transferee shall remain subject to all the terms and conditions applicable to
this Agreement prior to such transfer and each such transferee shall so acknowledge in writing as a
condition precedent to the effectiveness of such transfer. The term “Immediate Family” shall mean
the Participant’s spouse, former spouse, parents, children, stepchildren, adoptive relationships,
sisters, brothers, nieces and nephews and grandchildren (and, for this purpose, shall also include
the Participant). The Company shall not be required to transfer any Granted Shares on its books
which shall have been sold, assigned or otherwise transferred in violation of this Subsection
2.1(f), or to treat as the owner of such Granted Shares, or to accord the right to vote as such
owner or to pay dividends to, any person or organization to which any such Granted Shares shall
have been so sold, assigned or otherwise transferred, in violation of this Subsection 2.1(f).

     (g) Failure to Deliver Granted Shares to be Repurchased. In the event that the
Granted Shares to be forfeited to the Company under this Agreement are not in the Company’s
possession pursuant to Subsection 2.1(e) above or otherwise and the Participant or the
Participant’s Survivor fails to deliver such Granted Shares to the Company (or its designee), the
Company may immediately take such action as is appropriate to transfer record title of such Granted
Shares from the Participant to the Company (or its designee) and treat the Participant and such
Granted Shares in all respects as if delivery of such Granted Shares had been made as required by
this Agreement. The Participant hereby irrevocably grants the Company a power of attorney which
shall be coupled with an interest for the purpose of effectuating the preceding sentence.

     (h) Adjustments. The Plan contains provisions covering the treatment of Shares in a
number of contingencies such as stock splits and mergers. Provisions in the Plan for adjustment
with respect to the Granted Shares and the related provisions with respect to successors to the
business of the Company are hereby made applicable hereunder and are incorporated herein by
reference.

     2.2 General Restrictions on Transfer of Granted Shares.

     (a) If in connection with a registration statement filed by the Company pursuant to the
Securities Act of 1933, as amended (the “1933 Act”), the Company or its underwriter so requests,
the Participant will agree not to sell any of his or her Granted Shares whether or not the Lapsing
Repurchase Right has lapsed for a period not to exceed the lesser of: (i) 180 days following the
effectiveness of such registration statement or (ii) such period as the officers and directors of
the Company agree not to sell their Common Stock of the Company.

3

 

     (b) The Participant acknowledges and agrees that neither the Company nor, its shareholders nor
its directors and officers, has any duty or obligation to disclose to the Participant any material
information regarding the business of the Company or affecting the value of the Shares before, at
the time of, or following a Termination, including, without limitation, any information concerning
plans for the Company to make a public offering of its securities or to be acquired by or merged
with or into another firm or entity.

     3. Securities Law Compliance. The Participant specifically acknowledges and agrees
that any sales of Granted Shares shall be made in accordance with the requirements of the 1933 Act.

     4. Rights as a Stockholder. The Participant shall have all the rights of a
stockholder with respect to the Granted Shares, including voting and dividend rights, subject to
the transfer and other restrictions set forth herein and in the Plan.

     5. Legend. In addition to any legend required pursuant to the Plan, all certificates
representing the Granted Shares to be issued to the Participant pursuant to this Agreement shall
have endorsed thereon a legend substantially as follows:

“The shares represented by this certificate are subject to restrictions set forth in a
Restricted Stock Agreement dated as of                                         
with this Company, a copy of
which Agreement is available for inspection at the offices of the Company or will be
made available upon request.”

     6. Incorporation of the Plan. The Participant specifically understands and agrees
that the Granted Shares issued under the Plan are being sold to the Participant pursuant to the
Plan, a copy of which Plan the Participant acknowledges he or she has read and understands and by
which Plan he or she agrees to be bound. The provisions of the Plan are incorporated herein by
reference.

     7. Tax Liability of the Participant and Payment of Taxes. The Participant acknowledges
and agrees that any income or other taxes due from the Participant with respect to the Granted
Shares issued pursuant to this Agreement, including, without limitation, the Lapsing Repurchase
Right, shall be the Participant’s responsibility. Without limiting the foregoing, the Participant
agrees that, to the extent that the lapsing of restrictions on disposition of any of the Granted
Shares or the declaration of dividends on any such shares before the lapse of such restrictions on
disposition results in the Participant’s being deemed to be in receipt of earned income under the
provisions of the Code, the Company shall be entitled to immediate payment from the Participant of
the amount of any tax required to be withheld by the Company.

     Upon execution of this Agreement, the Participant may file an election under Section 83 of the
Code in substantially the form attached as Exhibit B. The Participant acknowledges that if
she does not file such an election, as the Granted Shares are released from the Lapsing Repurchase
Right in accordance with Section 2.1, the Participant will have income for tax

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purposes equal to
the fair market value of the Granted Shares at such date, less the price paid for the Granted
Shares by the Participant.1

     [The Participant shall be required to deposit with the Company an amount of cash equal to the
amount determined by the Company to be required with respect to the statutory minimum of the
Participant’s estimated total federal, state and local tax obligations associated with the
termination of the Lapsing Repurchase right with respect to the Granted Shares. In connection with
the foregoing, the Participant agrees that the Company shall authorize a registered broker(s) (the
“Broker”) to sell on the date that the Granted Shares shall be released from the Lapsing Repurchase
Right such number of Granted Shares as the Company instructs the Broker to sell to satisfy the
Company’s withholding obligations, after deduction of the Broker’s commission, and the Broker shall
remit to the Company the cash necessary in order for the Company to satisfy its withholding
obligation. The Company shall not deliver any of the Granted Shares until the deposit required
herein for withholding has been made. In connection with such sale of Granted Shares, the
Participant shall execute any such documents requested by Broker in order to effectuate the sale of
the Granted Shares and payment of the withholding obligation to the Company.]

     8. Equitable Relief. The Participant specifically acknowledges and agrees that in the
event of a breach or threatened breach of the provisions of this Agreement or the Plan, including
the attempted transfer of the Granted Shares by the Participant in violation of this Agreement,
monetary damages may not be adequate to compensate the Company, and, therefore, in the event of
such a breach or threatened breach, in addition to any right to damages, the Company shall be
entitled to equitable relief in any court having competent jurisdiction. Nothing herein shall be
construed as prohibiting the Company from pursuing any other remedies available to it for any such
breach or threatened breach.

     9. No Obligation to Maintain Relationship. The Company is not by the Plan or this
Agreement obligated to continue the Participant as an employee, director or consultant of the
Company or an Affiliate. The Participant acknowledges: (i) that the Plan is discretionary in
nature and may be suspended or terminated by the Company at any time; (ii) that the grant of the
Shares is a one-time benefit which does not create any contractual or other right to receive future
grants of shares, or benefits in lieu of shares; (iii) that all determinations with respect to any
such

 

			
	1	 	If the Shares are purchased at fair market value then the 83(b) election would be protective in nature
and would not result in any additional tax on purchase of the Shares. If the Shares are being purchased at a
discount from fair market value, the 83(b) election accelerates the timing of the taxation
to the time of the grant, and later dispositions are
taxed at capital gain rates. If the 83(b) election is not made then
the tax is paid at the time the restrictions
lapse (which could result in a higher possible taxable spread at that time).
An 83(b) election must be made within 30 days of the grant.
	 
	 	 	If the Company pays cash dividends and an 83(b) election is filed, dividends receive dividend tax treatment.
However, if no 83(b) election is made (as is the case with most public companies) the Employee will pay
ordinary income tax rates on the cash dividend payments until the restrictions on the shares
underlying those dividends lapse.
	 
	 	 	If no 83(b) election is filed consider adding the following to the Agreement: The Participant
has agreed not to file an election with respect to the Granted Shares under Section 83 of the Code
and has obtained the advice or has been given the opportunity to obtain the advice of his or her tax
advisors with respect to the tax consequences of the purchase of the Granted Shares and the
provisions of this Agreement.

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future grants, including, but not limited to, the times when shares shall be granted, the
number of shares to be granted, the purchase price, and the time or times when each share shall be
free from a lapsing repurchase right, will be at the sole discretion of the Company; (iv) that the
Participant’s participation in the Plan is voluntary; (v) that the value of the Shares is an
extraordinary item of compensation which is outside the scope of the Participant’s employment
contract, if any; and (vi) that the Shares are not part of normal or expected compensation for
purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses,
long-service awards, pension or retirement benefits or similar payments.

     10. Notices. Any notices required or permitted by the terms of this Agreement or the
Plan shall be given by recognized courier service, facsimile, registered or certified mail, return
receipt requested, addressed as follows:

     If to the Company at the principal business office listed on the first page of this Agreement.

     If to the Participant:

EMPLOYEE NAME AND ADDRESS

or to such other address or addresses of which notice in the same manner has previously been given.
Any such notice shall be deemed to have been given on the earliest of receipt, one business day
following delivery by the sender to a recognized courier service, or three business days following
mailing by registered or certified mail.

     11. Benefit of Agreement. Subject to the provisions of the Plan and the other
provisions hereof, this Agreement shall be for the benefit of and shall be binding upon the heirs,
executors, administrators, successors and assigns of the parties hereto.

     12. Governing Law. This Agreement shall be construed and enforced in accordance with
the laws of the State of Delaware, without giving effect to the conflict of law principles thereof.
For the purpose of litigating any dispute that arises under this Agreement, whether at law or in
equity, the parties hereby consent to exclusive jurisdiction in the Commonwealth of Massachusetts
and agree that such litigation shall be conducted in the courts of the Commonwealth of
Massachusetts or the federal courts of the United States for the District of Massachusetts.

     13. Severability. If any provision of this Agreement is held to be invalid or
unenforceable by a court of competent jurisdiction, then such provision or provisions shall be
modified to the extent necessary to make such provision valid and enforceable, and to the extent
that this is impossible, then such provision shall be deemed to be excised from this Agreement, and
the validity, legality and enforceability of the rest of this Agreement shall not be affected
thereby.

     14. Entire Agreement. This Agreement, together with the Plan, constitutes the entire
agreement and understanding between the parties hereto with respect to the subject matter hereof

6

 

and supersedes all prior oral or written agreements and understandings relating to the subject
matter hereof. No statement, representation, warranty, covenant or agreement not expressly set
forth in this Agreement shall affect or be used to interpret, change or restrict the express terms
and provisions of this Agreement provided, however, in any event, this Agreement shall be subject
to and governed by the Plan.

     15. Modifications and Amendments; Waivers and Consents. The terms and provisions of
this Agreement may be modified or amended as provided in the Plan. Except as provided in the Plan,
the terms and provisions of this Agreement may be waived, or consent for the departure therefrom
granted, only by written document executed by the party entitled to the benefits of such terms or
provisions. No such waiver or consent shall be deemed to be or shall constitute a waiver or
consent with respect to any other terms or provisions of this Agreement, whether or not similar.
Each such waiver or consent shall be effective only in the specific instance and for the purpose
for which it was given, and shall not constitute a continuing waiver or consent.

     16. Consent of Spouse/Domestic Partner. If the Participant has a spouse or domestic
partner as of the date of this Agreement, the Participant’s spouse or domestic partner shall
execute a Consent of Spouse/Domestic Partner in the form of Exhibit A hereto, effective as
of the date hereof. Such consent shall not be deemed to confer or convey to the spouse or domestic
partner any rights in the Granted Shares that do not otherwise exist by operation of law or the
agreement of the parties. If the Participant subsequent to the date hereof, marries, remarries or
applies to the Company for domestic partner benefits, the Participant shall, not later than 60 days
thereafter, obtain his or her new spouse/domestic partner’s acknowledgement of and consent to the
existence and binding effect of all restrictions contained in this Agreement by having such
spouse/domestic partner execute and deliver a Consent of Spouse/Domestic Partner in the form of
Exhibit A.

     17. Counterparts. This Agreement may be executed in one or more counterparts, and by
different parties hereto on separate counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument.

     18. Data Privacy. By entering into this Agreement, the Participant: (i) authorizes
the Company and each Affiliate, and any agent of the Company or any Affiliate administering the
Plan or providing Plan record keeping services, to disclose to the Company or any of its Affiliates
such information and data as the Company or any such Affiliate shall request in order to facilitate
the grant of Shares and the administration of the Plan; (ii) waives any data privacy rights he or
she may have with respect to such information; and (iii) authorizes the Company and each Affiliate
to store and transmit such information in electronic form.

[THE NEXT PAGE IS THE SIGNATURE PAGE]

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     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first above written.

	 	 	 	 	 	 	 
	 	 	OXiGENE, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: James Murphy	 	 
	 	 	Title: Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	Participant:	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Print Name:	 	 
	 
	 	 	 	 	 	 
	 	 	Date
Signed: 
	 	 

8

 

EXHIBIT A

CONSENT OF SPOUSE/DOMESTIC PARTNER

     I,                                         
, spouse or domestic partner of      
                                   
, acknowledge that I have read the RESTRICTED STOCK AGREEMENT dated
as of                      (the
“Agreement”) to which this Consent is attached as Exhibit A and that I know its contents.
Capitalized terms used and not defined herein shall have the meanings assigned to such terms in the
Agreement. I am aware that by its provisions the Granted Shares granted to my spouse/domestic
partner pursuant to the Agreement are subject to a Lapsing Repurchase Right in favor of OXiGENE,
Inc. (the “Company”) and that, accordingly, I may be required to forfeit to the Company any or all
of the Granted Shares of which I may become possessed as a result of a gift from my spouse/domestic
partner or a court decree and/or any property settlement in any domestic litigation.

     I hereby agree that my interest, if any, in the Granted Shares subject to the Agreement shall
be irrevocably bound by the Agreement and further understand and agree that any community property
interest I may have in the Granted Shares shall be similarly bound by the Agreement.

     I agree to the Lapsing Repurchase Right described in the Agreement and I hereby consent to the
forfeiture of the Granted Shares to the Company by my spouse/domestic partner or my spouse/domestic
partner’s legal representative in accordance with the provisions of the Agreement. Further, as
part of the consideration for the Agreement, I agree that at my death, if I have not disposed of
any interest of mine in the Granted Shares by an outright bequest of the Granted Shares to my
spouse or domestic partner, then the Company shall have the same rights against my legal
representative to exercise its rights to the Granted Shares with respect to any interest of mine in
the Granted Shares as it would have had pursuant to the Agreement if I had acquired the Granted
Shares pursuant to a court decree in domestic litigation.

     I AM AWARE THAT THE LEGAL, FINANCIAL AND RELATED MATTERS CONTAINED IN THE AGREEMENT ARE
COMPLEX AND THAT I AM FREE TO SEEK INDEPENDENT PROFESSIONAL GUIDANCE OR COUNSEL WITH RESPECT TO
THIS CONSENT. I HAVE EITHER SOUGHT SUCH GUIDANCE OR COUNSEL OR DETERMINED AFTER REVIEWING THE
AGREEMENT CAREFULLY THAT I WILL WAIVE SUCH RIGHT.

     Dated
as of the                      day of                                         
, 200_.

	 	 	 	 	 
	 

	 	 

Print name:
	 	 

A-1

 

EXHIBIT B

Election to Include Gross Income in Year

of Transfer Pursuant to Section 83(b)

of the Internal Revenue Code of 1986, as amended

     In accordance with Section 83(b) of the Internal Revenue Code of 1986, as amended (the
“Code”), the undersigned hereby elects to include in his gross income as compensation for services
the excess, if any, of the fair market value of the property (described below) at the time of
transfer over the amount paid for such property.

The following sets for the information required in accordance with the Code and the regulations
promulgated hereunder:

	1.	 	The name, address and social security number of the undersigned are:

Name:

Address:

Social Security No.:

	2.	 	The description of the property with respect to which the election is being made is as
follows:
	 
	 	 	                                        (                    ) shares (the “Shares”) of Common Stock, $0.01 par value per share, of
OXiGENE, Inc., a Delaware corporation (the “Company”).
	 
	3.	 	This election is made for the calendar year ___, with respect to the transfer of the
property to the Taxpayer on
                                        .
	 
	4.	 	Description of restrictions: The property is subject to the following restrictions:
	 
	 	 	In the event taxpayer’s employment with the Company or an Affiliate is terminated, the
Company may repurchase all or any portion of the Shares determined as set forth below at the
acquisition price paid by the taxpayer:

	 	A.	 	If the termination takes place on or prior to
                                        ,
the Purchase Option
will apply to all of the Shares.
	 
	 	B.	 	If the termination takes place after
                                        ,
200_, the number of Shares to
which the Purchase Option applies shall be                                         (                    ) Shares less
                                        (                    ) Shares for each full twelve (12) month period elapsed after
                                        ,
200___ if the taxpayer is employed by the Company or an Affiliate.

	5.	 	The fair market value at time of transfer (determined without regard to any restrictions
other than restrictions which by their terms will never lapse) of the property with respect to
which this election is being made was not more than
$         per Share.
	 
	6.	 	The amount paid by taxpayer for said property was
$         per Share.
	 
	7.	 	A copy of this statement has been furnished to the Company.

 

 

     Signed this                      day of                     , 200_.

	 	 	 	 	 
	 

	 	 

Print name:
	 	 

B-2<PAGE>

                                                                   EXHIBIT 10.67

September 7, 2005

Mr. David Manyak, Ph.D.
[address]

Dear David,

I am pleased to offer you continued employment with NovaScreen Biosciences
Corporation ("NovaScreen") upon the closing of the acquisition of NovaScreen by
Caliper Life Sciences, Inc. ("Caliper") (the "Closing"). After the Closing,
Caliper agrees that you will continue in your position as President of
NovaScreen and that you will be the "Surviving Corporation President" under the
terms of and as that term is defined in the Agreement and Plan of Merger entered
into by and among NovaScreen, Caliper and Caliper Services, Inc. (the "Merger
Agreement"). In addition, subject to approval by Caliper's Board of Directors,
you will serve Caliper as Executive Vice President, Drug Discovery Services,
reporting directly to me. We look forward to you applying your leadership skills
as a member of NovaScreen's and Caliper's Executive Teams. The offer embodied by
this offer letter is irrevocable so long as the Merger Agreement remains in
effect, but notwithstanding your prior acceptance of this offer letter, the
commencement of your employment with Caliper and NovaScreen as the surviving
corporation in the merger, and the effectiveness of this letter agreement, is
contingent upon the occurrence of the Closing under the Merger Agreement. The
offer embodied hereby, and any acceptance on your part , shall in any event be
null and void and have no force or effect upon the termination for any reason of
the Merger Agreement without the occurrence of a Closing thereunder.

To compensate you for your continued efforts in this position, you will receive
a compensation package, including base salary, target bonus and benefits, as set
forth in this offer letter.

Your base salary will be $9,916.67 per semi-monthly payroll (equivalent to
$238,000 per annum), with a target annual bonus of 45% of your aggregate salary
paid during any calendar year. Your actual bonus will be based on Caliper's
performance against corporate goals determined by Caliper's Board of Directors
and your individual performance, all in accordance with the terms of Caliper's
Performance Bonus Plan. Your annual bonus for 2005 will be pro-rated based on
the time period from the Closing to the end of the calendar year. Your actual
bonus is calculated by multiplying the bonus opportunity times the corporate
achievement factor times your individual performance factor. For the 2005 annual
bonus, the corporate achievement factor used to determine your bonus shall be
one (1) and the individual performance factor will be no less than seven-tenths
(.7). However, if the 2005 Milestone (as defined in the Merger Agreement) is
achieved, then the aggregate corporate and personal bonus factor for your 2005
annual bonus shall be no less than 1.4. You must be employed with NovaScreen on
the date that the bonus is paid in order to be eligible for the bonus. All
stated compensation is subject to standard payroll deductions and withholdings.

In addition, I will be recommending to Caliper's Board of Directors that you be
granted a Caliper common stock equity award pursuant to Caliper's 1999 Equity
Incentive Plan (the "Plan") in the form and amount of (i) an option to purchase
20,000 shares of common stock of Caliper, and (ii) 20,000 restricted stock units
of Caliper. Subject to obtaining Caliper's Board's approval, it is our intent
that the effective date of these grants will be the date of the Closing, and the
exercise price

<PAGE>

per share for the stock option will be the closing sale price of Caliper common
stock as reported on Nasdaq (or closing bid, if no sales are reported) on the
last trading day prior to the date of the grant. Restricted stock units do not
carry an exercise price, but they are subject to the terms and conditions of the
governing Plan document and applicable purchase agreement.

Your option(s) will vest over four (4) years, with 25% of the shares vesting one
(1) year from the grant date, and thereafter the shares shall vest at a rate of
1/16th per quarter at the end of each of the remaining 12 quarters. Your
restricted stock units will vest over four (4) years, with 25% of the shares
vesting one (1) year from the grant date and an additional 25% vesting annually
on the next three (3) anniversary dates of the grant. You may want to consult a
professional financial advisor regarding any tax implications associated with
these grants.

With regard to additional employment benefits, you will continue to receive the
benefits available to you as a regular full-time, exempt employee of NovaScreen,
provided that Caliper reserves the right to alter or eliminate these benefits in
the future as part of its integration of NovaScreen with Caliper, subject,
however, to the terms of the Merger Agreement (in which event you would receive
the benefits made available to regular full time, exempt employees of Caliper).
You will be eligible to participate in Caliper's Employee Stock Purchase Plan as
of December 1, 2005. You will also be eligible for additional, discretionary
Caliper common stock equity awards pursuant to the Plan. As a member of
Caliper's Executive Team, you will be a participant in Caliper's Key Employee
Change of Control and Severance Benefit Plan (the "CoC Plan").

In accordance with the Immigration Reform & Control Act of 1986, employment in
the United States is conditional upon proof of eligibility to legally work in
the United States. Upon the Closing, you will need to provide us with this
proof. If you do not have these documents, please contact Jill Maunder in our
Human Resources department at our Hopkinton office immediately.

Your continued employment with NovaScreen is voluntarily entered into and you
are free to resign at any time. Similarly, following the consummation of the
Closing under the Merger Agreement, NovaScreen is free to conclude its
employment relationship with you where NovaScreen believes it is in its interest
at any time without cause, subject, however to the provisions of the Merger
Agreement regarding the consequences of terminating the employment of the
Surviving Corporation President without "Cause" (as defined in the Merger
Agreement). While we hope our relationship will be mutually beneficial, it
should be recognized that, except to the extent that the offer embodied hereby
is irrevocable unless not accepted prior to the consummation of the Closing
under the Merger Agreement, or unless the Merger Agreement terminates for any
reason prior to the consummation of the Closing thereunder, neither you nor
NovaScreen has entered into any contract of employment either expressed or
implied. Our relationship following the Closing under the Merger Agreement is
and always will be one of voluntary employment "at will," with recognition,
however, of the provisions of the Merger Agreement bearing on the consequences
of terminating the employment of the Surviving Corporation President without
"Cause" (as defined in the Merger Agreement). Anything herein to the contrary
notwithstanding, it is the intention of Caliper hereunder to make an irrevocable
offer to you on behalf of NovaScreen as the surviving corporation in the Merger
for you to become the Surviving Corporation President concurrent with the
Closing under the Merger Agreement, and to that end the offer embodied herby
will remain irrevocable unless not accepted by you prior to the consummation of
the Closing under the Merger Agreement or unless the Merger Agreement terminates
for any reason prior to the consummation of the Closing thereunder

<PAGE>

As an employee of NovaScreen, you will have access to confidential information
and you may, during the course of your employment, develop information or
inventions that will be the property of NovaScreen or Caliper. To protect the
interests of Caliper, you will be required to sign Caliper's Employee
Proprietary Information and Inventions Agreement as a condition of your
continued employment with NovaScreen. A copy of this agreement is enclosed for
you to sign and return to me. The other copy of this agreement is for your
personal file.

During your employment with NovaScreen and for a period of one (1) year
following termination thereof, you will not directly or indirectly, whether as
an officer, director, stockholder, partner, proprietor, associate,
representative, consultant, or in any capacity whatsoever, engage in, become
financially interested in, be employed by or have any business connection with,
any person, corporation, firm, partnership or other entity whatsoever that
competes directly with NovaScreen or Caliper, throughout the United States, in
any line of business engaged in (or known to you during the term of your
employment to be planned to be engaged in) by NovaScreen or Caliper; provided,
however, that you may own, as a passive investor, securities of any competitor
corporation, so long as your direct holdings in any one such corporation shall
not in the aggregate constitute more than one percent (1%) of the voting stock
of such corporation.

Caliper shall have the right to terminate your employment at any time following
the Closing under the Merger Agreement (but subject to the terms thereof
relative to the Surviving Corporation President) with or without Cause. In the
event that your employment is terminated by Caliper without Cause at any time
other than within thirteen (13) months following a Change in Control (as defined
in the CoC Plan), and (i) you sign a release of claims (relative to only your
employment relationship) in favor of Caliper and allow that release to become
effective, and (ii) Caliper does not within fifteen (15) days following such
termination (or such longer period that you may agree to in your sole
discretion) waive its right to enforce your non-competition obligations set
forth in the immediately preceding paragraph hereto, then you shall receive the
following severance benefits: (i) an amount equivalent to your base salary,
payable as salary continuation in accordance with Caliper's ordinarily scheduled
payroll (less standard payroll deductions and withholdings), and (ii)
reimbursement for health insurance premiums at your then-current rate of
coverage, provided you timely elect continued coverage under COBRA, in each case
until the earlier of (A) twelve (12) months from the date of termination, or (B)
commencement of your full-time employment with another company. In the event
that your employment is terminated with Cause, you will not be entitled to any
severance pay, pay in lieu of notice or other such compensation or benefits
except as provided in this employment offer letter. "Cause" as used herein shall
mean (x) conduct that constitutes willful gross neglect or willful gross
misconduct in carrying out your duties, resulting, in either case, in material
economic harm to Caliper, unless you believed in good faith that such conduct
was in, or not opposed to, the best interest of Caliper, (y) any unjustified
refusal to follow reasonable directives by the Board or the CEO, or (z)
conviction of a felony crime involving moral turpitude.

You will receive indemnification as a corporate officer of NovaScreen and
Caliper to the maximum extent extended to the other officers and directors of
NovaScreen and Caliper. You will also be covered by Caliper's directors and
officers insurance policies, copies of which we have provided to you.

This written offer constitutes all conditions and agreements made on behalf of
Caliper and NovaScreen with respect to your employment, and supersedes any
previous verbal commitments by any employee of Caliper or NovaScreen with
respect to your employment. Anything herein to the contrary notwithstanding,
this written offer does not modify or amend in any manner the Merger Agreement,
including the provisions thereof regarding the employment of the Surviving

<PAGE>

Corporation President. Following the Closing under the Merger Agreement, Caliper
agrees to cause NovaScreen to perform the obligations of NovaScreen hereunder.

Please acknowledge your acceptance of this offer letter by signing the provided
copy of this offer letter and returning it to Jill Maunder as promptly as
practicable. The original letter may be returned by mail in the enclosed
self-addressed envelope or by confidential fax located in our Human Resources
office, 508-497-2685, while retaining the copy of this letter for your records.

Dave, I truly believe we are far along in the process of assembling a
world-class team and a broad as well as a deep technology and product portfolio.
Your experience and talents are needed and will be a strong addition to our
organization. I look forward to working closely with you and to you joining us
in building a strong organization and a preeminent global company.

Sincerely,

/s/ E. Kevin Hrusovsky
--------------------------------------
E. Kevin Hrusovsky
President and Chief Executive Officer

Accepted  By: /s/ David Manyak
              ------------------------
              David Manyak, Ph.D.

Date*: _______________________

*Original letter was signed but not dated. Dr. Manyak's employment became
effective October 3, 2005.

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