Document:

Form of Stock Option Agreement

 Exhibit 10.3 
 NEITHER THIS SECURITY NOR THE SHARES OF STOCK ISSUABLE UPON EXERCISE HEREOF HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (AS AMENDED, THE “SECURITIES ACT”) OR UNDER THE SECURITIES LAWS OF ANY STATE. NEITHER THIS
SECURITY NOR THE SHARES OF STOCK ISSUED UPON EXERCISE HEREOF MAY BE TRANSFERRED, SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND EXEMPTION OR QUALIFICATION UNDER ANY
APPLICABLE STATE SECURITIES LAWS AND, IF REQUESTED BY THE COMPANY, DELIVERY TO THE COMPANY OF AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED. ANY ATTEMPT TO TRANSFER, SELL, PLEDGE OR HYPOTHECATE
THIS SECURITY OR SUCH SHARES IN VIOLATION OF THESE RESTRICTIONS SHALL BE VOID. THE TRANSFER OF THIS SECURITY AND THE SHARES OF STOCK ISSUABLE UPON EXERCISE HEREOF ARE ALSO RESTRICTED BY THIS AGREEMENT. 
 DIAMETRICS MEDICAL, INC. 
 STOCK
OPTION AGREEMENT 
 PURSUANT TO 2006 INCENTIVE COMPENSATION PLAN 
                              (the “Optionee”) is hereby granted an
option (the “Option”) to purchase shares of the Common Stock of Diametrics Medical, Inc., a Minnesota corporation (the “Company”) pursuant to this Stock Option Agreement (this “Agreement”) and the
Company’s 2006 Incentive Compensation Stock Option Plan (the “Plan”), the provisions of which are incorporated herein by reference. 
 1. TERMS OF GRANT. 
 “Date of Option Grant” means August 11, 2006.

 “Option Shares” means              shares of the
Company’s Common Stock; par value $1.00 per share. 
 “Exercise Price” means
$             per share of Common Stock. 
 “Vesting
Date” means                     , 2006. 
 “Option Expiration Date” means March 15, 2007. 
 2. DEFINITIONS AND
CONSTRUCTION. 
 2.1 Definitions. Unless otherwise defined herein, capitalized terms shall have the meanings assigned to such
terms in the Plan. 
 2.2 Construction. Captions and titles contained herein are for convenience only and shall not affect the meaning
or interpretation of any provision of this Agreement. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the singular. Use of the term “or” is not intended to be exclusive,
unless the context clearly requires otherwise. 
 3. TAX CONSEQUENCES. 
 The Option is intended to constitute an “incentive stock option” as that term is used in Code Section 422. To the extent that the aggregate
fair market value (determined at the time of grant) of Option Shares with respect to which incentive stock options are exercisable for the first time by the Participant during any calendar year under all plans of the Company and its subsidiaries
exceeds $100,000, the options or portions thereof which exceed such limit (according to the order in which they 
  

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 were granted) shall be treated as nonstatutory stock options. It should be understood that there is no assurance that the
Option will, in fact, be treated as an incentive stock option. The Optionee should consult with the Optionee’s own tax advisor regarding the tax effects of this Option (and any requirements necessary to obtain favorable income tax treatment
under Code Section 422, including, but not limited to, holding period requirements). If the Option is treated as an Incentive Stock Option in part and as a Nonstatutory Stock Option in part by reason of the limitation set forth in this
Section 3, the Optionee may designate which portion of such Option the Optionee is exercising. 
 4. EXERCISE OF THE
OPTION. 
 4.1 Right to Exercise. Except as otherwise provided herein, the Option shall be exercisable in full on and after the
Vesting Date and prior to the termination of the Option (as provided in Section 6). 
 4.2 Method of Exercise. Exercise of the
Option shall be by written notice to the Company in the form of Exhibit A and Exhibit B hereto. The written notice must be signed by the Optionee and must be delivered in person, by certified or registered mail, return receipt
requested, by confirmed facsimile transmission, or by such other means as the Company may permit, to the Chief Executive Officer of the Company, or other authorized representative of the Company, prior to the termination of the Option as set forth
in Section 6, accompanied by full payment of the aggregate Exercise Price for the number of Option Shares being purchased. The Option shall be deemed to be exercised upon receipt by the Company of such written notice and the aggregate Exercise
Price. 
 4.3 Payment of Exercise Price. 
 (a) Forms of Consideration Authorized. Except as otherwise provided below, payment of the aggregate Exercise Price for the number of Option Shares for which the Option is being exercised shall be made
(i) in cash, by check or cash equivalent, (ii) by tender to the Company of whole Option Shares owned by the Optionee having a Fair Market Value not less than the aggregate Exercise Price (iii) by retention by the Company of that
number of Options Shares (the “Retained Shares”) having an aggregate Fair Market Value on the date of exercise equal to the aggregate exercise price for all Option Shares for which the Option is being exercised, so that the Optionee
receives the number of Option Shares for which the Option is exercised less the Retained Shares or (iv) by any combination of the foregoing. If the Retained Shares include a fractional share, the Retained Shares will be rounded up to the
nearest whole share. 
 (b) Limitations on Forms of Consideration. Notwithstanding the foregoing, the Option may not be
exercised by tender to the Company of Option Shares to the extent such tender, or attestation to the ownership, of Stock would constitute a violation of the provisions of any law, regulation or agreement restricting the redemption of the
Company’s stock. The Option may not be exercised by tender to the Company of shares of Stock unless such shares either have been owned by the Optionee for more than six (6) months or were not acquired, directly or indirectly, from the
Company. 
 4.4 Tax Withholding. At the time the Option is exercised, in whole or in part, or at any time thereafter as requested by
the Company, the Optionee hereby authorizes withholding from payroll and any other amounts payable to the Optionee, and otherwise agrees to make adequate provision for any sums required to satisfy the federal, state, local and foreign tax
withholding obligations of the Company, if any, which arise in connection with the Option, including, without limitation, obligations arising upon (i) the exercise, in whole or in part, of the Option, (ii) the transfer, in whole or in
part, of any Option Shares acquired upon exercise of the Option, (iii) the operation of any law or regulation providing for the imputation of interest, or (iv) the lapsing of any restriction with respect to any shares acquired upon
exercise of the Option. The Optionee is cautioned that the Option is not exercisable unless the tax withholding obligations of the Company are satisfied. Accordingly, the Optionee may not be able to exercise the Option when desired even though the
Option is vested, and the Company shall have no obligation to issue a certificate for such shares. 
  

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 4.5 Certificate Registration. The certificate for the Option Shares as to which the Option is
exercised shall be registered in the name of the Optionee, or, if applicable, the Optionee’s heirs. 
 4.6 Restrictions on Grant of
the Option and Issuance of Shares. The grant of the Option and the issuance of Option Shares upon exercise of the Option shall be subject to compliance with all applicable requirements of federal, state or foreign law with respect to such
securities. The Option may not be exercised if the issuance of Option Shares upon exercise would constitute a violation of any applicable federal, state or foreign securities laws or other law or regulations or the requirements of any stock exchange
or market system upon which the Stock may then be listed. In addition, the Option may not be exercised unless (i) a registration statement under the Securities Act shall at the time of exercise of the Option be in effect with respect to the
shares issuable upon exercise of the Option or (ii) in the opinion of legal counsel to the Company, the shares issuable upon exercise of the Option may be issued in accordance with the terms of an applicable exemption from the registration
requirements of the Securities Act. THE OPTIONEE IS CAUTIONED THAT THE OPTION MAY NOT BE EXERCISED UNLESS THE FOREGOING CONDITIONS ARE SATISFIED. ACCORDINGLY, THE OPTIONEE MAY NOT BE ABLE TO EXERCISE THE OPTION WHEN DESIRED EVEN THOUGH THE OPTION IS
VESTED. The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel to be necessary to the lawful issuance and sale of any shares subject to the Option shall
relieve the Company of any liability in respect of the failure to issue or sell such shares as to which such requisite authority shall not have been obtained. As a condition to the exercise of the Option, the Company may require the Optionee to
satisfy any qualifications that may be necessary or appropriate, to evidence compliance with any applicable law or regulation and to make any representation or warranty with respect thereto as may be requested by the Company. 
 4.7 Fractional Shares. The Company shall not be required to issue fractional shares upon the exercise of the Option. 
 5. NONTRANSFERABILITY OF THE OPTION AND OPTION SHARES. 
 5.1 Who May Exercise. The Option may be exercised during the lifetime of the Optionee only by the Optionee or the Optionee’s guardian or legal representative and may not be assigned or transferred in any
manner except by will or by the laws of descent and distribution. Following the death of the Optionee, the Option, to the extent provided in Section 7, may be exercised by the Optionee’s legal representative or by any person empowered to
do so under the deceased Optionee’s will or under the then applicable laws of descent and distribution. 
 6. TERMINATION OF THE
OPTION. 
 The Option shall terminate and may no longer be exercised on the first to occur of (a) the Option Expiration Date or
(b) the last date for exercising the Option following termination of the Optionee’s Service as described in Section 7. 
 7.
EFFECT OF TERMINATION OF SERVICE. 
 7.1 Option Exercisability. 
 (a) Disability. If the Optionee’s employment with or service to the Company (“Service”) is terminated because of the
Disability of the Optionee, the Option, to the extent unexercised and exercisable on the date on which the Optionee’s Service terminated, may be exercised by the Optionee (or the Optionee’s guardian or legal representative) at any time
prior to the expiration of six (6) months after the date on which the Optionee’s Service terminated, but in any event no later than the Option Expiration Date. (NOTE: If an Incentive Stock Option is exercised more than three
(3) months after the date on which the Optionee’s Service as an Employee terminated as a result of a Disability other than a permanent and total disability as defined in Section 22(e)(3) of the Code, the Option will be treated as a
Nonstatutory Stock Option and not as an Incentive Stock Option to the extent required by Section 422 of the Code.) 
  

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 (b) Death. If the Optionee’s Service is terminated because of the death of the
Optionee, the Option, to the extent unexercised and exercisable on the date on which the Optionee’s Service terminated, may be exercised by the Optionee’s legal representative or other person who acquired the right to exercise the Option
by reason of the Optionee’ s death at any time prior to the expiration of six (6) months after the date on which the Optionee’s Service terminated, but in any event no later than the Option Expiration Date. The Optionee’s Service
shall be deemed to have terminated on account of death if the Optionee dies within thirty (30) days after the Optionee’s termination of Service (other than for Cause). 
 (c) Cause. If the Optionee’s Service is terminated for Cause, the Option shall terminate and cease to be exercisable immediately upon
such termination of Service. 
 (d) Other Termination of Service. If the Optionee’s Service terminates for any reason,
except Disability, death or for Cause, the Option, to the extent unexercised and exercisable by the Optionee on the date on which the Optionee’s Service terminated, may be exercised by the Optionee within thirty (30) days (or such other
longer period of time as determined by the Board of Directors of the Company (the “Board”), in its sole discretion) after the date on which the Optionee’s Service terminated, but in any event no later than the Option Expiration
Date. 
 7.2 Extension if Exercise Prevented by Law. Notwithstanding the foregoing, if the exercise of the Option within the
applicable time periods set forth in Section 7.1 is prevented by the provisions of Section 4.6, the Option shall remain exercisable until thirty (30) days after the date the Optionee is notified by the Company that the Option is
exercisable, but in any event no later than the Option Expiration Date. The Company makes no representation as to the tax consequences of any such delayed exercise. The Optionee should consult with the Optionee’s own tax advisor as to the tax
consequences of any such delayed exercise. 
 7.3 Extension if Optionee Subject to Section 16(b). Notwithstanding the foregoing,
if a sale within the applicable time periods set forth in Section 7.1 of shares acquired upon the exercise of the Option would subject the Optionee to suit under Section 16(b) of the Exchange Act, the Option shall remain exercisable until
the earliest to occur of (i) the tenth (10th) day following the date on which a sale of such shares by the Optionee would no longer be subject to such suit, (ii) the one hundred and ninetieth (190th) day after the Optionee’s
termination of Service, or (iii) the Option Expiration Date. The Company makes no representation as to the tax consequences of any such delayed exercise. The Optionee should consult with the Optionee’s own tax advisor as to the tax
consequences of any such delayed exercise. 
 8. RIGHTS AS A STOCKHOLDER, EMPLOYEE OR CONSULTANT. 
 The Optionee shall have no rights as a stockholder with respect to any shares covered by the Option until the date of the issuance of a certificate for
the shares for which the Option has been exercised (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company). No adjustment shall be made for dividends, distributions or other rights
for which the record date is prior to the date such certificate is issued, except as provided in Section 4.2 of the Plan. If the Optionee is an Employee, the Optionee understands and acknowledges that, except as otherwise provided in a
separate, written employment agreement between the Company and the Optionee, the Optionee’s employment is “at will” and is for no specified term. Nothing in this Agreement shall confer upon the Optionee any right to continue in
Optionee’s Service or interfere in any way with any right of the Company to terminate the Optionee’s Service at any time. 
  

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 9. NOTICE OF SALES UPON DISQUALIFYING DISPOSITION. 
 If the Option is an Incentive Stock Option, the Optionee shall comply with the provisions of this Section 9. The Optionee shall promptly notify the
Chief Financial Officer of the Company if the Optionee disposes of any of the shares acquired pursuant to the Option within one (1) year after the date of the Optionee exercises all or part of the Option or within two (2) years after the
Date of Grant. Until such time as the Optionee disposes of such shares in a manner consistent with the provisions of this Agreement, unless otherwise expressly authorized by the Company, the Optionee shall hold all shares acquired pursuant to the
Option in the Optionee’s name (and not in the name of any nominee) for the one-year period immediately after the exercise of the Option and the two-year period immediately after Date of Grant. At any time during the one-year or two-year periods
set forth above, the Company may place a legend on any certificate representing shares acquired pursuant to the Option requesting the transfer agent for the Company’s stock to notify the Company of any such transfers. The obligation of the
Optionee to notify the Company of any such transfer shall continue notwithstanding that a legend has been placed on the certificate pursuant to the preceding sentence. 
 10. LEGENDS. 
 The Company may at any time place legends referencing the this Agreement and any
applicable federal, state or foreign securities law restrictions on all certificates representing Option Shares subject to the provisions of this Agreement. The Optionee shall, at the request of the Company, promptly present to the Company any and
all certificates representing Option Shares acquired pursuant to the Option in the possession of the Optionee in order to carry out the provisions of this Section 10. Unless otherwise specified by the Company, legends placed on such
certificates may include, but shall not be limited to, the following: 
 10.1 “THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT COVERING SUCH SECURITIES, THE SALE IS MADE IN ACCORDANCE WITH
RULE 144 OR RULE 701 UNDER THE ACT, OR THE COMPANY RECEIVES AN OPINION OF COUNSEL FOR THE HOLDER OF THESE SECURITIES REASONABLY SATISFACTORY TO THE COMPANY, STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION IS EXEMPT FROM THE
REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.” 
 10.2 “THE TRANSFER, SALE, ASSIGNMENT, PLEDGE,
MORTGAGE, HYPOTHECATION, ENCUMBRANCE, GIFT OR OTHER DISPOSITION OF SHARES REPRESENTED BY THIS CERTIFICATE IS RESTRICTED BY A STOCK OPTION AGREEMENT, A COPY OF WHICH MAY BE OBTAINED FROM THE COMPANY.” 
 10.3 If Option Shares are issued with respect to an Incentive Stock Option: “THE SHARES EVIDENCED BY THIS CERTIFICATE WERE ISSUED BY THE COMPANY
TO THE REGISTERED HOLDER UPON EXERCISE OF AN INCENTIVE STOCK OPTION AS DEFINED IN SECTION 422 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (“ISO”).” 
 11. REPRESENTATIONS AND WARRANTIES OF THE OPTIONEE. 
 11.1 Optionee hereby confirms, that this Option is and the Option Shares will be acquired for investment for the Optionee’s own account, not as a nominee or agent, and not with a view to the resale or
distribution of any part thereof, and that the Optionee has no present intention of selling, granting any participation in, or otherwise distributing such Option Shares. Optionee further represents that he does not presently have any contract,
undertaking, agreement or arrangement with any Person to sell, transfer or grant participations to any Person, with respect to this Option or any of the Option Shares. 
  

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 11.2 Optionee has had an opportunity to ask questions of and receive answers from the Company regarding
business, management and financial affairs of the Company and the terms and conditions of the offering of the this Option and the Option Shares. 
 11.3 Optionee understands that this Option is and the Option Shares not been registered under the Securities Act, by reason of a specific exemption from the registration provisions of the Securities Act which depends upon, among other
things, the bona fide nature of the investment intent and the accuracy of Optionee’s representations as expressed herein. Optionee understands that this Option is and the Option Shares are “restricted securities” under applicable
federal and state securities laws and that, pursuant to these laws, the Optionee must hold this Option is and the Option Shares indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such
registration and qualification requirements is available. Optionee acknowledges that if an exemption from registration or qualification is available, it may be conditioned on various requirements including, but not limited to, the time and manner of
sale, the holding period for the Option and the Option Shares, and on requirements relating to the Company that are outside of the Optionee’s control, and which the Company is under no obligation and may not be able to satisfy. 
 11.4 Optionee is an “accredited investor” as defined in Rule 501(a) of Regulation D promulgated under the Securities Act. 
 12. RESTRICTIONS ON TRANSFER OF SHARES. 
 No shares acquired upon exercise of the Option may be sold, exchanged, transferred (including, without limitation, any transfer to a nominee or agent of the Optionee), assigned, pledged, hypothecated or otherwise
disposed of, including by operation of law, in any manner which violates any of the provisions of this Agreement, and any such attempted disposition shall be void. The Company shall not be required (a) to transfer on its books any shares which
will have been transferred in violation of any of the provisions set forth in this Option Agreement or (b) to treat as owner of such shares or to accord the right to vote as such owner or to pay dividends to any transferee to whom such shares
will have been so transferred. 
 13. BINDING EFFECT. 
 Subject to the restrictions on transfer set forth herein, this Agreement shall inure to the benefit of and be binding upon the parties hereto and their
respective heirs, executors, administrators, successors and assigns. 
 14. TERMINATION OR AMENDMENT. 
 The Board may terminate or amend the Plan or the Option at any time; provided, however, that no such termination or amendment may adversely affect the
Option or any unexercised portion hereof without the consent of the Optionee unless such termination or amendment is necessary to comply with any applicable law or government regulation or is required to enable the Option designated as an Incentive
Stock Option in Section 1 to qualify as an Incentive Stock Option. No amendment or addition to this Agreement shall be effective unless in writing. 
 15. NOTICES. 
 Any notice required or permitted hereunder shall be given in writing and shall
be deemed effectively given (except to the extent that this Option Agreement provides for effectiveness only upon actual receipt of such notice) upon personal delivery or upon deposit in the United States Post Office, by registered or certified
mail, with postage and fees prepaid, addressed to the other party at the address set forth below or at such other address as such party may designate in writing from time to time to the other party. 
  

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 16. INTEGRATED AGREEMENT. 
 This Agreement and the Plan constitute the entire understanding and agreement of the Optionee and the Company with respect to the subject matter contained
herein and therein and there are no agreements, understandings, restrictions, representations, or warranties among the Optionee and the Company with respect to such subject matter other than those as set forth or provided for herein or therein. To
the extent contemplated herein or therein, the provisions of this Agreement shall survive any exercise of the Option and shall remain in full force and effect. 
 17. APPLICABLE LAW. 
 This Agreement shall be governed by the laws of the State of California
as such laws are applied to agreements between California residents entered into and to be performed entirely within the State of California. To the extent any provision of this Agreement is inconsistent with the terms and provisions of the Plan,
the terms and provisions of the Plan shall control. 
 By their signatures below, the parties hereto agree that the Option is governed by the
terms and conditions of the Plan as in effect on the Date of Option Grant, which is attached hereto. The Optionee acknowledges receipt of a copy of the Plan, represents that he or she is familiar with the provisions contained therein, and hereby
accepts the Option subject to all of the terms and conditions thereof. 
  

							
	OPTIONEE	 	DIAMETRICS MEDICAL, INC.
			
	  
	 	By:	 	  

	Name:	 		 	Name:	 	
	Address:	 		 	Title:	 	
			
		 		 	 6033 West Century Blvd., Suite 850
 Los
Angeles, California 90045

 Attachment: 2006 Incentive Compensation Plan 
  

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 EXHIBIT A 
 OPTION EXERCISE NOTICE 
 Diametrics Medical, Inc. 
 6033 West Century Blvd., Suite 850 
 Los Angeles, CA 90045 
 Attn: Secretary 
 Ladies and Gentlemen: 
 This constitutes
notice that, as of the date this notice and payment of the exercise price is received by the Secretary of Diametrics Medical, Inc. (the “Company”), the Optionee is electing to exercise the stock option granted under Company’s
2006 Incentive Compensation Plan (the “Plan”) and identified below, and to purchase the number of shares for the price set forth below: 
  

			
	Grant Date of stock option:	 	                            
		
	If both incentive stock options and nonstatutory stock options were granted to the Participant on that date, indicate type of option being exercised:	 	      Incentive Stock Option
  
      Non-qualified Stock Option

		
	Number of shares as to which option is exercised:	 	                            
		
	Stock certificate to be issued in name of:	 	                                      
              
		
	Total exercise price:	 	$            
		
	Cash payment delivered with this election:	 	$            
		
	Principal amount of promissory note delivered with this election:	 	$            
		
	Value of              shares of Company common stock delivered with this election:1	 	$            

	1	This alternative applies only if shares meet the public trading requirements. Shares must be valued in accordance with the terms of the option being exercised, must
have been owned for the minimum period required in the option, and must be owned free and clear of any liens, claims, encumbrances or security interests. Certificates must be endorsed or accompanied by an executed assignment separate from the
certificate. 

 By this exercise, the Participant agrees (i) to provide such additional documents as the Company may
require pursuant to the terms of the Plan, and (ii) to provide for the payment to the Company (in the manner determined by the Company) of amounts required to satisfy the Company’s withholding obligation, if any, relating to this option
exercise. The Participant also acknowledges having received, read and understood the Plan, and agrees to abide by and be bound by its terms and conditions. 
  

							
	 Submitted by:
 PARTICIPANT
	  	 Accepted by:
 DIAMETRICS MEDICAL,
INC.

			
	  
	  	By:	 	  

	Signature	 		  		 	
			
	  
	  	Its:	 	  

	Print Name	 		  		 	

							
				
	Address:	 		  	         Date Received:
	 	  

	  
	  		 	
	  
	  		 	
	  
	  		 	

 EXHIBIT B 
 INVESTMENT REPRESENTATION STATEMENT 
 [This form is to be completed at the time option is
exercised, 
 unless stock is publicly traded at that time.] 
 Effective as of                      (the
“Effective Date”), the undersigned (“Optionee”) has elected to purchase              shares of the Common Stock, par value $1.00 per share (the
“Shares”), of Diametrics Medical, Inc., a Minnesota corporation (the “Company”) under and pursuant to the Company’s 2006 Incentive Compensation Plan (the “Plan”) and the Stock Option Agreement dated
                     [insert grant date of option] (the “Option Terms”). The Optionee hereby makes the following
certifications, representations, warranties and agreements with respect to the purchase of the Shares: 
 The Optionee acknowledges that he
or she is aware of the Company’s business affairs and financial condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Shares. The Optionee represents and warrants to
the Company that he or she is acquiring these Shares for investment for the Optionee’s own account only and not with a view to, or for resale in connection with, any “distribution” thereof within the meaning of the Securities Act of
1933, as amended (the “Securities Act”). 
 The Optionee further acknowledges that the Shares have not been registered under
the Securities Act, are deemed to constitute “restricted securities” under Rule 701 and Rule 144 promulgated under the Securities Act and must be held indefinitely unless they are subsequently registered under the Securities Act and
qualified under any applicable state securities laws or an exemption from such registration and qualification is available. The Optionee further acknowledges that the Company is under no obligation to register the Shares. 
 The Optionee further acknowledges that he or she is familiar with the provisions of Rule 701 and Rule 144, which Rules, in substance, permit limited
public resale of “restricted securities” acquired, directly or indirectly from the issuer thereof, in a non-public offering subject to the satisfaction of certain conditions. The Optionee understands that if the Company becomes subject to
the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Optionee will not be able to resell the Shares under Rule 701 (i) until at least ninety (90) days after the Company became subject to such
reporting requirements (or any longer stand-off period, as discussed below, may require) and (ii) unless such resale satisfies those provisions of Rule 144 that are specified in Rule 701(g)(3). Even if the Company is not subject to such
reporting requirements, the Shares may be resold in certain limited circumstances subject to satisfaction of all of the applicable provisions of Rule 144. The Optionee further acknowledges that in the event all of the applicable requirements of Rule
144 are not satisfied, registration under the Securities Act, compliance with Regulation A, or some other registration exemption will be required in order to resell the Shares. The Optionee understands that no assurances can be given that any such
registration will be made or any such exemption will be available in such event. 
 The Optionee further acknowledges and understands that
all certificates representing any of the Shares shall have endorsed thereon appropriate legends reflecting the foregoing limitations, as well as any legends reflecting any other restrictions pursuant to the Company’s Articles of Incorporation,
Bylaws, the Option Terms, the Plan and/or applicable securities laws. 
 The Optionee further agrees that, if so requested by the Company or
any representative of the underwriters (the “Managing Underwriter”) in connection with any registration of the offering of any securities of the Company under the Securities Act, the Optionee shall not sell or otherwise transfer any
Shares or other securities of the Company during the 180-day period, or such other period as may be requested in writing by the Managing Underwriter and agreed to in writing by the Company (the “Market Standoff Period”), following
the effective date of a registration statement of the Company filed under the Securities Act. Such restriction shall apply only to the first registration statement of the Company to become effective under the Securities Act that includes securities
to be sold on behalf of the Company to 

 the public in an underwritten public offering under the Securities Act. The Company may impose stop-transfer instructions
with respect to securities subject to the foregoing restrictions until the end of such Market Standoff Period. 
 The Optionee further
acknowledge and agrees that the Company shall not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of any of the representations, warranties, agreements or other provisions contained
in this Notice of Exercise or (ii) to treat as owner of such Shares or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such Shares shall have been so transferred. 
  

	
	Submitted by Optionee:
	
	  

	Signature1st Amendment to Purchase Option

 Exhibit 10.8 
 FIRST AMENDMENT TO OPTION TO PURCHASE AGREEMENT 
 THIS FIRST AMENDMENT TO OPTION TO PURCHASE AGREEMENT
(“First Amendment”) is made and entered into as of April 13, 2006 (the “First Amendment Effective Date”), by and among BioZone Laboratories, Inc., a corporation formed under the laws of the State of California or its assigns
(individually and collectively, “BioZone”), and ALCiS Health, Inc., a corporation formed under the laws of the California (“ALCiS”). Except as noted below, the Option to Purchase Agreement
(“Agreement”), dated as of November 4, 2005, between the parties shall remain in full force and effect. 
 NOW THEREFORE, in
consideration of the representations and warranties, covenants and conditions set forth herein, and intending to be legally bound hereby, the parties hereto agree as follows: 
  

	 	A.	Section 3(a) of the Agreement shall be amended and replaced in its entirety with the following: 

  

	 	(a)	By April 15, 2006, BioZone shall receive warrants to purchase one hundred thousand (100,000) shares of ALCiS Common Stock at $2.00 per share, with an expiration date of 10
years from the date of issue. For clarification, on March 31, 2006, a merger (“Merger”) between ALCiS and Emerging Delta Corporation (“Delta”) was consummated and each share of ALCiS’ stock was exchanged for 0.16 share
of Delta’s common stock. Following the Merger, the post-Merger public entity is granting a stock dividend of 5.25 shares to each of its shareholders which has the effect of a 6.25 for 1 stock split, in effect restoring the number of shares
originally held by all ALCiS shareholders pre-Merger. This warrant to BioZone already incorporates any adjustment due for the 5.25 for 1 share dividend, and shall not be further adjusted as a result of such dividend. 

  

	 	B.	BioZone hereby directs and instructs ALCiS to title the warrants in Section 3(a), due under the provision as modified above, in the following names and amounts:

  

				
	 Owner Name
	  	%	 
		  		
		  		
		  		
	 Total
	  	100	%

 IN WITNESS WHEREOF, the parties hereto have duly executed this First Amendment as of the First
Amendment Effective Date set forth above. 
  

							
	ALCIS HEALTH, INC.	 	BIOZONE LABORATORIES, INC.
				
	By:	 	 /s/ Brian Berchtold
	 	By:	 	 /s/ Daniel Fisher

		 	Brian Berchtold	 		 	Daniel Fisher
		 	Chief Executive Officer	 		 	President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00108-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00108-of-00352.parquet"}]]