Document:

exv10w1

EXHIBIT 10.1

SEPARATION AND RELEASE AGREEMENT

     This Separation and Release Agreement (the “Agreement”) is effective March 11, 2009,
by and between Stephen J. Hadden (the “Executive”) and Devon Energy Corporation (the
“Company”).

RECITALS

     WHEREAS, the Executive is employed as the Executive Vice President, Exploration and Production
of the Company;

     WHEREAS, the Executive and the Company have into entered an Amended and Restated Employment
Agreement with an effective date of December 15, 2008 (the “Employment Agreement”); and

     WHEREAS, the parties desire to enter this Agreement to reflect their mutual undertakings,
promises and agreements concerning the Executive’s resignation of his employment with the Company
and payments and benefits to the Executive upon or by reason of such resignation.

     NOW, THEREFORE, in exchange for the valuable consideration paid or given under this Agreement,
the receipt, adequacy and sufficiency of which is hereby acknowledged, the parties knowingly and
voluntarily agree to the following terms:

TERMS

	1.	 	Separation Date and Effect of Separation. Capitalized terms not defined by this
Agreement shall have the same meaning ascribed to them in the Employment Agreement unless
specifically denoted otherwise. The Executive hereby resigns from the Company effective March
11, 2009 (the “Separation Date”). The Company and the Executive agree that such
resignation from the Company shall result in a Separation from Service under the Employment
Agreement.
	 
	2.	 	Enforceability of Employment Agreement. Nothing in this Agreement shall be construed
to limit, supersede or cancel any of the Company’s or the Executive’s rights or obligations
under the Employment Agreement, all of which shall remain in full force and effect.
	 
	3.	 	Final Pay and Benefits. The Company and the Executive agree that the Executive’s
employment with the Company is being terminated under circumstances that would entitle him to
the benefits provided in Section 4(b) of the Employment Agreement. Upon the Executive’s
Separation from Service on the Separation Date, Executive shall receive all Accrued
Obligations in accordance with Section 4(a) of the Employment Agreement. In addition,
contingent upon (i) the Executive’s execution of a General Release in the form attached as
Exhibit A (the “Release”) between the date of the Executive’s Separation from
Service and the twenty-first (21st) day following his Separation from Service (the
“Consideration Period”) and (ii) non-revocation of such Release within the seven (7)
day period after the date the Executive executes the Release (the “Revocation
Period”), the Executive shall be entitled to the payments and benefits outlined in Section
4(b) of the Employment Agreement (the “Severance Benefits”).

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	4.	 	Accelerated Vesting of Restricted Stock and Stock Options. In connection with the
Executive’s participation in the Company’s 2005 Long-Term Incentive Plan, the Executive has
received awards of the Company’s restricted stock and stock options (the “Stock
Awards”). If the Executive signs and returns the Release during the Consideration Period
and does not revoke the Release, all unvested Stock Awards shall vest and become exercisable
in accordance with the terms of the applicable award agreements effective upon the date the
Revocation Period has expired without the Executive having revoked the Release. If the
Executive fails to sign and return the Release within the Consideration Period or revokes such
Release within the Revocation Period, the unvested portion of the Stock Awards shall be
forfeited.
	 
	5.	 	Return of Property. The Executive agrees that, on or before the Separation Date, he
shall return to the Company any and all items of the Company’s or any of its Affiliates’
physical or personal property, including, without limitation, keys, badge/access cards,
computers, software, cellular telephones and personal digital devices, equipment, credit
cards, files, documents, manuals, correspondence, business records, personnel data, lists of
employees, salary and benefits information, lists of suppliers and vendors, price lists,
contracts, contract information, training materials, computer tapes and diskettes or other
portable media, computer-readable files and data stored on any hard drive or other installed
device, and data processing reports, and any and all other documents, property, or
Confidential Information that he has had possession of or control over during his employment
with the Company. The Executive’s obligations to return property shall not apply to and the
Executive may retain a copy of personnel, benefit or payroll documents concerning only him.
	 
	6.	 	Waiver of Certain Rights.

	 	(a)	 	Right to Relief Not Provided in This Agreement. The Executive irrevocably
waives any right to monetary recovery from the Company or its Affiliates, whether sought
directly by him or any administrative agency or other public authority, individual or
group of individuals that should pursue any claim on his behalf. The Executive shall not
request or accept from the Company or its Affiliates, as compensation or damages related
to his employment or the termination of his employment with the Company, anything of
value that is not provided for in this Agreement.
	 
	 	(b)	 	Right to a Jury Trial. To the extent permitted by law, the Executive
irrevocably waives the right to trial by jury with respect to any claim against the
Company or its Affiliates, including without limitation any claim arising from this
Agreement. The Executive’s obligations under this subsection shall supplement, rather
than supplant, the Executive’s arbitration obligations under Section 10 of the Employment
Agreement.
	 
	 	(c)	 	Right to Class-Action or Collective-Action Initiation or Participation.
The Executive irrevocably waives the right to initiate or participate in any class or
collective action with respect to any claim against the Company or its Affiliates.

	7.	 	Non-Prosecution. Except as requested by the Company, the Executive shall not assist,
cooperate with, or supply information of any kind to any individual or private-party litigant
or their agents or attorneys (i) in any proceeding, investigation or inquiry raising issues
involving the Company or its Affiliates, or (ii) in any other litigation against the Company
or its Affiliates. The Executive may truthfully respond to inquiries by government agencies
or to inquiries by any person through a subpoena or other valid judicial process without
violating this Section 7, provided that the Executive delivers written notice of such
inquiries to the Company promptly upon receipt, unless such notice to the Company is
prohibited by applicable law, court order, subpoena, process or governmental decree.

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	8.	 	No Violations. The Executive represents that he has not informed the Company of, and
that he is unaware of, any alleged violations of law, the Company’s standards of business
conduct or personnel policies, or other misconduct by Company that have not been resolved
satisfactorily by the Company.
	 
	9.	 	Breach of This Agreement or Employment Agreement. Notwithstanding any other
provision in this Agreement, the Company’s obligation to provide the Severance Benefits to the
Executive shall be subject to the condition that the Executive complies with his continuing
obligations under this Agreement and the Employment Agreement. The Company shall have the
right to suspend or cease providing any part of the Severance Benefits, as well as to seek
restitution of the value of any such payments and benefits already provided, if the Company
determines, in its discretion, the Executive has breached any such obligations. If the
Executive breaches this Agreement or his continuing obligations under the Employment
Agreement, or if a dispute arises between the parties based on or involving this Agreement or
the Employment Agreement, the Company shall be entitled to recover from the Executive its
reasonable attorneys’ fees, court costs and expenses to the extent it prevails in enforcing
such rights or resolving such dispute against the Executive. The Company’s rights under this
Section 9 shall be in addition to any other available rights and remedies should the Executive
breach any of his obligations under this Agreement or the Employment Agreement. In construing
the Executive’s obligations pursuant to Section 9(f) of the Employment Agreement, the
Executive and the Company agree that the Executive shall not be in violation of Section 9(f)
of the Employment Agreement if a company that employs Executive after the date of this
Agreement (i) hires any employee of the Company or its Affiliates through such company’s
general advertisement or job posting processes or (ii) solicits for employment any employee of
the Company or its Affiliates if the Executive has no knowledge of or role in such
solicitation.
	 
	10.	 	Non-Admission of Liability or Wrongdoing. This Agreement shall not in any manner
constitute an admission of liability or wrongdoing on the part of the Company or its
Affiliates and the Company and its Affiliates expressly deny any such liability or wrongdoing.
Except to the extent necessary to enforce this Agreement, neither this Agreement nor any part
of it may be construed, used or admitted into evidence in any judicial, administrative or
arbitration proceedings as an admission of any kind by the Company or its Affiliates.
	 
	11.	 	Capacity to Execute. The Executive represents and warrants that he has the capacity
to execute this Agreement.
	 
	12.	 	Governing Law; Severability; Interpretation. This Agreement and the rights and
duties of the parties under it shall be governed by the laws of the State of Oklahoma, without
regard to any conflicts of laws principles. If any provision of this Agreement is held to be
unenforceable, that provision shall (a) be considered separate, distinct and severable from
the other remaining provisions of this Agreement, and (b) not affect the validity or
enforceability of such other remaining provisions, and, in all other respects, this Agreement
shall remain in full force and effect. If any provision of this Agreement is held to be
unenforceable as written but may be made to be enforceable by limitation, that provision shall
be enforceable to the maximum extent permitted by applicable law. The language of all parts
of this Agreement shall in all cases be construed as a whole, according to its fair meaning,
and not strictly for or against any of the parties.

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	13.	 	Assignment. The Executive’s obligations, rights and benefits under this Agreement
are personal to the Executive and shall not be assigned to any person or entity without
written permission from the Company. This Agreement shall be binding upon and inure to the
benefit of the parties and their respective heirs, legal representatives, successors and
permitted assigns.
	 
	14.	 	Consultation with an Attorney. The Executive has the right, and is encouraged by the
Company, to consult with an attorney before signing this Agreement.
	 
	15.	 	Knowing and Voluntary Agreement. The Executive acknowledges that (a) he has had a
reasonable period in which to deliberate regarding the terms of this Agreement and to consider
whether to sign this Agreement, (b) he fully understands the meaning and effect of signing
this Agreement, and (c) his signing of this Agreement is knowing and voluntary. The Executive
further acknowledges that the Company has not made any promise or representation to him
concerning this Agreement that is not expressed in this Agreement, and that, in signing this
Agreement, he is not relying on any statement or representation by Company or its Affiliates,
but is instead relying solely on his own judgment and the consultation with and advice of his
attorney, if any.
	 
	16.	 	Independent Consideration; Common-Law Duties. Whether expressly stated in this
Agreement or not, all obligations the Executive assumes and undertakings he makes by signing
this Agreement are understood to be in consideration of the mutual promises and undertakings
in this Agreement. The Executive further acknowledges and agrees that his obligations under
this Agreement supplement, rather than supplant, his common-law duties owed to the Company.
	 
	17.	 	Modification. No provision of this Agreement may be amended, modified or waived
unless such amendment, modification or waiver is agreed to in writing and signed by the
Executive and by a duly authorized officer of the Company.
	 
	18.	 	Internal Revenue Code Section 409A; Consultation With a Tax Advisor. The parties
have drafted this Agreement in accordance with Section 409A of the Internal Revenue Code and
intend that it comply with Section 409A of the Code and any related rules, regulations or
other guidance. This Agreement shall be interpreted and construed to comply with Section 409A
of the Code. The parties shall cooperate and work together in good faith to take all actions
reasonably necessary to effectuate the intent of this section. Notwithstanding the preceding
sentence, the Executive shall be solely responsible for any risk that the tax treatment of all
or part of the Severance Benefits may be affected by Section 409A of the Code and impose
significant adverse tax consequences on him, including accelerated taxation, a 20% additional
tax, and interest. Because of the potential tax consequences, the Executive has the right,
and is encouraged by the Company, to consult with a tax advisor before signing this Agreement.
	 
	19.	 	Notice of Termination. The Company and the Executive agree that this Agreement shall
constitute the Notice of Termination required pursuant to Section 3(g) of the Employment
Agreement with respect to the termination of the Executive’s employment.
	 
	20.	 	Entire Agreement. This Agreement and the Employment Agreement constitute the entire
agreement among the parties with respect to the subject matters hereof and thereof and
supersede any and all prior or contemporaneous oral and written agreements and understandings
with respect to such subject matters.

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	21.	 	Section Headings. The section headings in this Agreement are for convenience of
reference only, form no part of this Agreement, and shall not affect its interpretation.
	 
	22.	 	Counterparts. This Agreement may be executed in one or more counterparts, each of
which shall be deemed an original and all of which together shall be considered one and the
same agreement.

     IN WITNESS WHEREOF, this Separation and Release Agreement has been agreed to and executed to
be effective as of the day and year first above written.

	 	 	 	 	 
	EXECUTIVE 	 	DEVON ENERGY CORPORATION	 	 
	 
	 	 	 	 
	/s/ Stephen J. Hadden                              
 

Stephen J. Hadden

	 	 /s/ John Richels                                            
 

John Richels 

President
           
	 	 

5exv10w56

			
	[Performance Vesting Option – Employee Form]
	 	Exhibit 10.56

THE SPECTRANETICS CORPORATION

2006 INCENTIVE AWARD PLAN

STOCK OPTION GRANT NOTICE AND 

STOCK OPTION AGREEMENT 

     The Spectranetics Corporation, a Delaware corporation (the “Company”), pursuant to its 2006
Incentive Award Plan (the “Plan”), hereby grants to the holder listed below (“Participant”), an
option to purchase the number of shares of the Company’s common stock, par value $0.001 per share
(“Stock”), set forth below (the “Option”). This Option is subject to all of the terms and
conditions set forth herein and in the Stock Option Agreement attached hereto as Exhibit A
(the “Stock Option Agreement”) and the Plan, which are incorporated herein by reference. Unless
otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in
this Grant Notice and the Stock Option Agreement.

	 	 	 	 	 	 	 	 	 
	Participant:
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Grant Date:
	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 
	Vesting Commencement Date:
	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 
	Exercise Price per Share:

	 	$ 	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Total Exercise Price:

	 	$ 	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Total Number of Shares
	 	 	 	 	 	 	 	 
	Subject to the Option:

	 	 	 		 shares	 		 
	 

	 	 

	 	 	 	 
	Expiration Date:
	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 

			
	Type of Option:

	 	þ      Incentive Stock Option      o     Non-Qualified Stock Option
	 
	 	 
	Vesting Schedule:

	 	The shares subject to the Option shall vest and become exercisable as set forth in Article III of the Stock
Option Agreement.

     By his or her signature, the Participant agrees to be bound by the terms and conditions of the
Plan, the Stock Option Agreement and this Grant Notice. The Participant has reviewed the Stock
Option Agreement, the Plan and this Grant Notice in their entirety, has had an opportunity to
obtain the advice of counsel prior to executing this Grant Notice and fully understands all
provisions of this Grant Notice, the Stock Option Agreement and the Plan. Participant hereby
agrees to accept as binding, conclusive and final all decisions or interpretations of the Committee
upon any questions arising under the Plan or relating to the Option.

	 	 	 	 	 	 	 	 	 
	THE SPECTRANETICS CORPORATION	 	PARTICIPANT	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	 	 	By:	 	 	 	 
	 

	 	 

	 	 
	 

	 	 
	Print Name:

	 	 	 	Print Name:	 	 	 	 
	 

	 	 

	 	 	 	 	 	 
	Title:
	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 	 	 
	Address:

	 	 	 	Address:	 	 	 	 
	 

	 	 

	 	 
	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 

	 	 

 

 

EXHIBIT A

TO STOCK OPTION GRANT NOTICE

THE SPECTRANETICS CORPORATION STOCK OPTION AGREEMENT

     Pursuant to the Stock Option Grant Notice (the “Grant Notice”) to which this Stock Option
Agreement (this “Agreement”) is attached, The Spectranetics Corporation, a Delaware corporation
(the “Company”), has granted to the Participant an option under the Company’s 2006 Incentive Award
Plan (as amended from time to time, the “Plan”) to purchase the number of shares of Stock indicated
in the Grant Notice.

ARTICLE I.

GENERAL

     1.1 Defined Terms. Wherever the following terms are used in this Agreement they shall
have the meanings specified below, unless the context clearly indicates otherwise. Capitalized
terms not specifically defined herein shall have the meanings specified in the Plan and the Grant
Notice.

          (a) “Administrator” shall mean the Board or the Committee responsible for conducting the
general administration of the Plan in accordance with Article 12 of the Plan; provided that if the
Participant is an Independent Director, “Administrator” shall mean the Board.

          (b) The “Performance Target” shall be deemed to have been achieved if and when, prior to the
expiration, cancellation or other termination of the Option, (i) the average of the closing trading
prices (on the principal stock exchange on which the Stock is then listed) of a share of Stock for
a period of ten (10) consecutive trading days equals or exceeds $9.00 per share, or (ii) the
highest price per share of Stock paid in a transaction that results in a Change in Control equals
or exceeds $9.00.

          (c) “Service” shall mean the Participant’s service with the Company as an officer, employee or
consultant of the Company, or member of the Board. For purposes of this Agreement, the Participant
shall be deemed to remain in continuous Service with the Company so long as he remains either an
employee, consultant or member of the Board, and in the event that Participant is both an employee
of the Company and a member of the Board, Participant shall not be deemed to have incurred a
Termination of Service (as defined below) with the Company unless and until his status as both an
employee and a member of the Board has terminated.

          (d) “Termination of Service” shall mean a termination of the Participant’s Service for any
reason, with or without cause, including, without limitation, a termination by resignation,
discharge, death, disability or retirement, but excluding: (a) a termination where there is a
simultaneous reemployment or continuing employment of the Participant by the Company or any
Subsidiary, and (b) a termination where there is a simultaneous establishment of a consulting
relationship or continuing consulting relationship between the Participant and the Company or any
Subsidiary. The Administrator, in its absolute discretion, shall determine the effect of all
matters and questions relating to a Termination of Service, including, without limitation, the
question of whether a particular leave of absence constitutes a Termination of Service.

     1.2 Incorporation of Terms of Plan. The Option is subject to the terms and conditions
of the Plan which are incorporated herein by reference. In the event of any inconsistency between
the Plan and this Agreement, the terms of the Plan shall control.

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ARTICLE II.

GRANT OF OPTION

     2.1 Grant of Option. In consideration of the Participant’s past and/or continued
employment with or service to the Company or a Subsidiary and for other good and valuable
consideration, effective as of the Grant Date set forth in the Grant Notice (the “Grant Date”), the
Company irrevocably grants to the Participant the Option to purchase any part or all of an
aggregate of the number of shares of Stock set forth in the Grant Notice, upon the terms and
conditions set forth in the Plan and this Agreement. Unless designated as a Non-Qualified Stock
Option in the Grant Notice, the Option shall be an Incentive Stock Option to the maximum extent
permitted by law.

     2.2 Exercise Price. The exercise price of the shares of Stock subject to the Option
shall be as set forth in the Grant Notice, without commission or other charge; provided, however,
that the price per share of the shares of Stock subject to the Option shall not be less than 100%
of the Fair Market Value of a share of Stock on the Grant Date. Notwithstanding the foregoing, if
this Option is designated as an Incentive Stock Option and the Participant owns (within the meaning
of Section 424(d) of the Code) more than 10% of the total combined voting power of all classes of
stock of the Company or any “subsidiary corporation” of the Company or any “parent corporation” of
the Company (each within the meaning of Section 424 of the Code), the price per share of the shares
of Stock subject to the Option shall not be less than 110% of the Fair Market Value of a share of
Stock on the Grant Date.

     2.3 Consideration to the Company. In consideration of the grant of the Option by the
Company, the Participant agrees to render faithful and efficient services to the Company or any
Subsidiary. Nothing in the Plan or this Agreement shall confer upon the Participant any right to
continue in the employ or service of the Company or any Subsidiary or shall interfere with or
restrict in any way the rights of the Company and its Subsidiaries, which rights are hereby
expressly reserved, to discharge or terminate the services of the Participant at any time for any
reason whatsoever, with or without Cause, except to the extent expressly provided otherwise in a
written agreement between the Company or a Subsidiary and the Participant.

ARTICLE III.

PERIOD OF EXERCISABILITY

     3.1 Commencement of Exercisability.

          (a) Subject to Sections 3.2, 3.3 and 3.4, the Option shall vest and become exercisable as
follows:

          (i) In the event that the Performance Target is achieved, the Option shall thereupon
vest with respect to that number of shares that would have been vested as of such date had
the Option been subject to the Time Vesting Schedule (as defined below), and the remaining
unvested portion (if any) of the Option shall thereafter vest in accordance with the Time
Vesting Schedule as if the Option had been subject to the Time Vesting Schedule since the
Grant Date.

          (ii) For purposes of this Agreement, “Time Vesting Schedule” shall mean a vesting
schedule providing for vesting of the Option with respect to 1/48th of the shares
subject thereto on the first monthly anniversary of the Vesting Commencement Date set forth
above (the “Vesting Commencement Date”) and with respect to an additional 1/48th
of the shares subject

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thereto on each monthly anniversary of the Vesting Commencement Date thereafter up to
and including the monthly anniversary of the Vesting Commencement Date occurring on the four
year anniversary of the Vesting Commencement Date.

          (b) Except as expressly provided in Section 3.2 below, in no event shall the Option vest or
become exercisable to any extent if the Performance Target is not achieved.

          (c) No portion of the Option which has not become vested and exercisable at the date of the
Participant’s Termination of Service shall thereafter become vested and exercisable, except as may
be otherwise provided by the Administrator or as set forth in a written agreement between the
Company and the Participant.

     3.2 Acceleration of Exercisability. Notwithstanding Section 3.1(a) above, the Option
shall, to the extent not theretofore expired, cancelled or terminated, become fully vested and
exercisable in the event of (i) the achievement of the Performance Target upon a Change in Control
that occurs on or prior to the second anniversary of the Grant Date or (ii) a Change in Control
that occurs after the second anniversary of the Grant Date (irrespective of whether the Performance
Target is achieved).

     3.3 Duration of Exercisability. The installments provided for in the vesting schedule
set forth in Section 3.1 are cumulative. Each such installment which becomes vested and
exercisable pursuant to the vesting schedule set forth in Section 3.1 shall remain vested and
exercisable until it becomes unexercisable under Section 3.4.

     3.4 Expiration of Option. The Option may not be exercised to any extent by anyone
after the first to occur of the following events:

          (a) The expiration of ten years from the Grant Date;

          (b) If this Option is designated as an Incentive Stock Option and the Participant owned
(within the meaning of Section 424(d) of the Code), at the time the Option was granted, more than
10% of the total combined voting power of all classes of stock of the Company or any “subsidiary
corporation” of the Company or any “parent corporation” of the Company (each within the meaning of
Section 424 of the Code), the expiration of five years from the Grant Date;

          (c) The expiration of one year from the date of the Participant’s Termination of Service,
unless such termination occurs by reason of the Participant’s death or Disability; or

          (d) The expiration of one year from the date of the Participant’s Termination of Service by
reason of the Participant’s death or Disability.

     The Participant acknowledges that an Incentive Stock Option exercised more that three months
after the Participant’s termination of employment, other than by reason of death or total and
permanent disability (within the meaning of Section 22(e)(3) of the Code), will be taxed as a
Non-Qualified Stock Option.

     3.5 Special Tax Consequences. The Participant acknowledges that, to the extent that
the aggregate Fair Market Value (determined as of the time the Option is granted) of all shares of
Stock with respect to which Incentive Stock Options, including the Option (if applicable), are
exercisable for the first time by the Participant in any calendar year exceeds $100,000, the Option
and such other options shall be Non-Qualified Stock Options to the extent necessary to comply with
the limitations imposed by Section 422(d) of the Code. The Participant further acknowledges that
the rule set forth in the preceding sentence

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shall be applied by taking the Option and other “incentive stock options” into account in the
order in which they were granted, as determined under Section 422(d) of the Code and the Treasury
Regulations thereunder.

ARTICLE IV.

EXERCISE OF OPTION

     4.1 Person Eligible to Exercise. Except as provided in Section 5.2(b), during the
lifetime of the Participant, only the Participant may exercise the Option or any portion thereof.
After the death of the Participant, any exercisable portion of the Option may, prior to the time
when the Option becomes unexercisable under Section 3.4, be exercised by the Participant’s personal
representative or by any person empowered to do so under the deceased Participant’s will or under
the then applicable laws of descent and distribution.

     4.2 Partial Exercise. Any exercisable portion of the Option or the entire Option, if
then wholly exercisable, may be exercised in whole or in part at any time prior to the time when
the Option or portion thereof becomes unexercisable under Section 3.4.

     4.3 Manner of Exercise. The Option, or any exercisable portion thereof, may be
exercised solely by delivery to the Secretary of the Company (or any third party administrator or
other person or entity designated by the Company) of all of the following prior to the time when
the Option or such portion thereof becomes unexercisable under Section 3.4:

          (a) An Exercise Notice in a form specified by the Administrator, stating that the Option or
portion thereof is thereby exercised, such notice complying with all applicable rules established
by the Administrator;

          (b) The receipt by the Company of full payment for the shares of Stock with respect to which
the Option or portion thereof is exercised, including payment of any applicable withholding tax,
which may be in one or more of the forms of consideration permitted under Section 4.4;

          (c) Any other written representations as may be required in the Administrator’s reasonable
discretion to evidence compliance with the Securities Act or any other applicable law rule, or
regulation; and

          (d) In the event the Option or portion thereof shall be exercised pursuant to Section 4.1 by
any person or persons other than the Participant, appropriate proof of the right of such person or
persons to exercise the Option.

Notwithstanding any of the foregoing, the Company shall have the right to specify all conditions of
the manner of exercise, which conditions may vary by country and which may be subject to change
from time to time.

     4.4 Method of Payment. Payment of the exercise price shall be by any of the
following, or a combination thereof, at the election of the Participant:

          (a) Cash;

          (b) Check;

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          (c) With the consent of the Administrator, delivery of a notice that the Participant has
placed a market sell order with a broker with respect to shares of Stock then issuable upon
exercise of the Option, and that the broker has been directed to pay a sufficient portion of the
net proceeds of the sale to the Company in satisfaction of the aggregate exercise price; provided,
that payment of such proceeds is then made to the Company at such time as may be required by the
Company, but in any event not later than the settlement of such sale;

          (d) With the consent of the Administrator, surrender of other shares of Stock which have a
fair market value on the date of surrender equal to the aggregate exercise price of the shares of
Stock with respect to which the Option or portion thereof is being exercised;

          (e) With the consent of the Administrator, surrendered shares of Stock issuable or
transferable upon the exercise of the Option having a fair market value on the date of exercise
equal to the aggregate exercise price of the shares of Stock with respect to which the Option or
portion thereof is being exercised; or

          (f) With the consent of the Administrator, property of any kind which constitutes good and
valuable consideration.

     4.5 Conditions to Issuance of Stock Certificates. The shares of Stock deliverable
upon the exercise of the Option, or any portion thereof, may be either previously authorized but
unissued shares of Stock or issued shares of Stock which have then been reacquired by the Company.
Such shares of Stock shall be fully paid and nonassessable. The Company shall not be required to
issue or deliver any shares of Stock purchased upon the exercise of the Option or portion thereof
prior to fulfillment of all of the following conditions:

          (a) The admission of such shares of Stock to listing on all stock exchanges on which such
Stock is then listed;

          (b) The completion of any registration or other qualification of such shares of Stock under
any state or federal law or under rulings or regulations of the Securities and Exchange Commission
or of any other governmental regulatory body, which the Administrator shall, in its absolute
discretion, deem necessary or advisable;

          (c) The obtaining of any approval or other clearance from any state or federal governmental
agency which the Administrator shall, in its absolute discretion, determine to be necessary or
advisable;

          (d) The receipt by the Company of full payment for such shares of Stock, including payment of
any applicable withholding tax, which may be in one or more of the forms of consideration permitted
under Section 4.4; and

          (e) The lapse of such reasonable period of time following the exercise of the Option as the
Administrator may from time to time establish for reasons of administrative convenience.

     4.6 Rights as Stockholder. The holder of the Option shall not be, nor have any of the
rights or privileges of, a stockholder of the Company in respect of any shares of Stock purchasable
upon the exercise of any part of the Option unless and until such shares of Stock shall have been
issued by the Company to such holder (as evidenced by the appropriate entry on the books of the
Company or of a duly authorized transfer agent of the Company). No adjustment will be made for a
dividend or other right for

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which the record date is prior to the date the shares of Stock are issued, except as provided
in Section 11.1 of the Plan.

ARTICLE V.

OTHER PROVISIONS

     5.1 Administration. The Administrator shall have the power to interpret the Plan and
this Agreement and to adopt such rules for the administration, interpretation and application of
the Plan as are consistent therewith and to interpret, amend or revoke any such rules. All actions
taken and all interpretations and determinations made by the Administrator in good faith shall be
final and binding upon Participant, the Company and all other interested persons. No member of the
Committee or the Board shall be personally liable for any action, determination or interpretation
made in good faith with respect to the Plan, this Agreement or the Option.

     5.2 Option Not Transferable.

          (a) Subject to Section 5.2(b), the Option may not be sold, pledged, assigned or
transferred in any manner other than by will or the laws of descent and distribution, unless and
until the shares of Stock underlying the Option have been issued, and all restrictions applicable
to such shares of Stock have lapsed. Neither the Option nor any interest or right therein shall be
liable for the debts, contracts or engagements of Participant or his or her successors in interest
or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance,
assignment or any other means whether such disposition be voluntary or involuntary or by operation
of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings
(including bankruptcy), and any attempted disposition thereof shall be null and void and of no
effect, except to the extent that such disposition is permitted by the preceding sentence.

          (b) Notwithstanding any other provision in this Agreement, with the consent of the
Administrator, the Participant may transfer the Option (or any portion thereof) to any one or more
Permitted Transferees (as defined below), subject to the following terms and conditions: (i) any
portion of the Option transferred to a Permitted Transferee shall not be assignable or transferable
by the Permitted Transferee other than by will or the laws of descent and distribution; (ii) any
portion of the Option which is transferred to a Permitted Transferee shall continue to be subject
to all the terms and conditions of the Option as applicable to the Participant (other than the
ability to further transfer the Option); and (iii) the Participant and the Permitted Transferee
shall execute any and all documents requested by the Administrator, including, without limitation
documents to (A) confirm the status of the transferee as a Permitted Transferee, (B) satisfy any
requirements for an exemption for the transfer under applicable federal and state securities laws
and (C) evidence the transfer. For purposes of this Section 5.2(b), “Permitted Transferee” shall
mean, with respect to a Participant, any child, stepchild, grandchild, parent, stepparent,
grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law,
son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships,
any person sharing the Participant’s household (other than a tenant or employee), a trust in which
these persons (or the Participant) control the management of assets, charitable institutions, or
trusts or other entities whose beneficiaries or beneficial owners are these persons (or the
Participant) and/or charitable institutions, and any other entity in which these persons (or the
Participant) own more than fifty percent of the voting interests, or any other transferee
specifically approved by the Administrator after taking into account any state or federal tax or
securities laws applicable to transferable Options. Notwithstanding the foregoing, (i) in no event
shall the Option be transferable by the Participant to a third party (other than the Company) for
consideration, and (ii) no transfer of an Incentive Stock Option will be permitted to the extent
that

A-6

 

such transfer would cause the Incentive Stock Option to fail to qualify as an “incentive stock
option” under Section 422 of the Code.

     5.3 Adjustments. The Participant acknowledges that the Option is subject to
adjustment, modification and termination in certain events as provided in this Agreement and
Article 11 of the Plan.

     5.4 Notices. Any notice to be given under the terms of this Agreement to the Company
shall be addressed to the Company in care of the Secretary of the Company at the address given
beneath the signature of the Company’s authorized officer on the Grant Notice, and any notice to be
given to Participant shall be addressed to Participant at the address given beneath Participant’s
signature on the Grant Notice. By a notice given pursuant to this Section 5.4, either party may
hereafter designate a different address for notices to be given to that party. Any notice which is
required to be given to Participant shall, if Participant is then deceased, be given to the person
entitled to exercise his or her Option pursuant to Section 4.1 by written notice under this Section
5.4. Any notice shall be deemed duly given when sent via email or when sent by certified mail
(return receipt requested) and deposited (with postage prepaid) in a post office or branch post
office regularly maintained by the United States Postal Service.

     5.5 Titles. Titles are provided herein for convenience only and are not to serve as a
basis for interpretation or construction of this Agreement.

     5.6 Governing Law; Severability. The laws of the State of Delaware shall govern the
interpretation, validity, administration, enforcement and performance of the terms of this
Agreement regardless of the law that might be applied under principles of conflicts of laws.

     5.7 Conformity to Securities Laws. The Participant acknowledges that the Plan and
this Agreement are intended to conform to the extent necessary with all provisions of the
Securities Act and the Exchange Act and any and all regulations and rules promulgated by the
Securities and Exchange Commission thereunder, and state securities laws and regulations.
Notwithstanding anything herein to the contrary, the Plan shall be administered, and the Option is
granted and may be exercised, only in such a manner as to conform to such laws, rules and
regulations. To the extent permitted by applicable law, the Plan and this Agreement shall be
deemed amended to the extent necessary to conform to such laws, rules and regulations.

     5.8 Amendments, Suspension and Termination. To the extent permitted by the Plan, this
Agreement may be wholly or partially amended or otherwise modified, suspended or terminated at any
time or from time to time by the Committee or the Board, provided, that, except as may otherwise be
provided by the Plan, no amendment, modification, suspension or termination of this Agreement shall
adversely effect the Option in any material way without the prior written consent of the
Participant.

     5.9 Successors and Assigns. The Company may assign any of its rights under this
Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the
successors and assigns of the Company. Subject to the restrictions on transfer herein set forth in
Section 5.2, this Agreement shall be binding upon Participant and his or her heirs, executors,
administrators, successors and assigns.

     5.10 Notification of Disposition. If this Option is designated as an Incentive Stock
Option, Participant shall give prompt notice to the Company of any disposition or other transfer of
any shares of Stock acquired under this Agreement if such disposition or transfer is made (a)
within two years from the Grant Date with respect to such shares of Stock or (b) within one year
after the transfer of such shares of Stock to Participant. Such notice shall specify the date of
such disposition or other transfer and the

A-7

 

amount realized, in cash, other property, assumption of indebtedness or other consideration,
by Participant in such disposition or other transfer.

     5.11 Limitations Applicable to Section 16 Persons. Notwithstanding any other
provision of the Plan or this Agreement, if Participant is subject to Section 16 of the Exchange
Act, the Plan, the Option and this Agreement shall be subject to any additional limitations set
forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any
amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such
exemptive rule. To the extent permitted by applicable law, this Agreement shall be deemed amended
to the extent necessary to conform to such applicable exemptive rule

     5.12 Not a Contract of Employment. Nothing in this Agreement or in the Plan shall
confer upon the Participant any right to continue to serve as an employee or other service provider
of the Company or any of its Subsidiaries.

     5.13 Entire Agreement. The Plan, the Grant Notice and this Agreement (including all
Exhibits thereto) constitute the entire agreement of the parties and supersede in their entirety
all prior undertakings and agreements of the Company and Participant with respect to the subject
matter hereof.

     5.14 Section 409A. This Option is not intended to constitute “nonqualified deferred
compensation” within the meaning of Section 409A of the Code (“Section 409A”). However,
notwithstanding any other provision of the Plan, this Agreement or the Grant Notice, if at any time
the Committee determines that the Option (or any portion thereof) may be subject to Section 409A,
the Committee shall have the right, in its sole discretion, to adopt such amendments to the Plan,
this Agreement or the Grant Notice or adopt other policies and procedures (including amendments,
policies and procedures with retroactive effect), or take any other actions, as the Committee
determines are necessary or appropriate either for the Option to be exempt from the application of
Section 409A or to comply with the requirements of Section 409A.

A-8

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