Document:

Agreement

 Exhibit 10.28 
  
 AGREEMENT 
  
 This Agreement (the “Agreement”) by and between Midas International Corporation, a Delaware corporation (“Midas”) and Norauto S.A., an
entity organized under the laws of France, (“Norauto”), is entered into on September     , 2004 by and between Midas and Norauto. 
  
 WHEREAS, Midas and Magneti Marelli Services S.p.A., an entity organized under the laws of Italy (“MMS”) are
parties to an Agreement for Strategic Alliance by and between Midas and MMS, dated as of October 1, 1998, as amended (the “Strategic Agreement”), and a License Agreement, dated October 30, 1998, as amended (the “License
Agreement”); and 
  
 WHEREAS, Norauto and Magneti Marelli
Holding S.p.A., an entity organized under the laws of Italy (“MMH”) have entered into a Share Purchase Agreement, dated as of July 29, 2004, whereby Norauto has purchased all the outstanding shares of MMS (the “Transaction”); and

  
 WHEREAS, Norauto and Midas desire to enter into this Agreement
to formalize certain understandings and agreements set forth in the letter to MMH and Norauto from Midas, dated July 28, 2004 (the “Letter”). 
  
 Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings set forth in the Strategic Agreement or the License
Agreement. 
  
 NOW, THEREFORE, in consideration of the premises
and mutual covenants of the parties set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 
  
 1. Midas Waiver. Midas acknowledges that it has received and is
satisfied with the Audited Financials (as such term is defined in the Letter) and any consent regarding the Transaction which may be required from Midas under the Strategic Agreement and the License Agreement, is hereby granted. Midas hereby
irrevocably waives any and all rights of first refusal it may have pursuant to Article II, Section 5.5 of the Strategic Agreement, as such rights may relate to the Transaction. The consent and waiver provided by Midas in this paragraph shall be null
and void if the Transaction does not close on or before December 31, 2004. 
  
 2. Guaranty. Norauto hereby guarantees and agrees to be jointly and severally liable with MMS to Midas for the payment of the shop opening fees and royalty payments owing by MMS to Midas under the Strategic
Agreement and the License Agreement. If MMS shall fail to pay the shop opening fees and royalty payments, if and when due, then Norauto shall pay the shop opening fees and royalty payments pursuant to the terms of the Strategic Agreement and the
License Agreement, as the case may be. Midas may assign the guaranty obligation of Norauto under this paragraph if: (a) the guaranty obligation is transferred along with the Strategic Agreement and (b) Midas assigns the guaranty obligation to a
subsidiary, which subsidiary is at least fifty percent (50%) owned by Midas. In the event that after such assignment by Midas to a subsidiary that is at least fifty percent (50%) owned by Midas, Midas no longer owns at least 

  

 
fifty percent (50%) of such subsidiary, the guaranty obligation of Norauto under this paragraph shall terminate and be of no further force or effect.

  
 3. Midas Right of First Refusal. 
  
 a. In the event that (i) Norauto or (ii) an entity which
owns the MMS Shares (as defined below) that is either directly or indirectly owned by Norauto proposes to (A) effect any sale of fifty (50%) or more of the shares of MMS (including any additional future shares distributed by MMS or any securities
received by MMS’ shareholders or MMS in exchange for the shares of MMS, including shares distributed from a legal successor of MMS) (the “MMS Shares”) or (B) sell at least fifty percent (50%) of the entity that owns the MMS Shares,
which entity is either directly or indirectly owned by Norauto, in a single transaction or series of related transactions to a third party not owned or either directly or indirectly controlled by, or in common control with, Norauto (a “Share
Transfer”), Norauto shall deliver to Midas a written notice (attention: President and CEO with a copy to the General Counsel) (the “Transfer Notice”) of the Share Transfer, which Transfer Notice shall include (i) the price and the
other relevant financial conditions, (ii) the terms and conditions of Share Transfer, (iii) the name of the intended purchaser of the MMS Shares (the “Proposed Transferee”) and (iv) the form of purchase agreement setting forth the terms
and conditions of the proposed transaction to be used to purchase the MMS Shares (the “Purchase Agreement”). The rights set forth in this paragraph 3 shall be exercised by Midas, if at all, by written notice to Norauto (attention:
President du Directoire with a copy to the President of the Supervisory Board) (the “Exercise Notice”) delivered not later than sixty (60) calendar days after the receipt by Midas of the Transfer Notice in accordance with the terms and
conditions stated therein. Together with the Exercise Notice, Midas shall deliver an executed Purchase Agreement. The right of Midas to deliver an Exercise Notice together with an executed Purchase Agreement shall expire at the end of the
60th calendar day after the date of the delivery to Midas of the Transfer Notice. In the event Midas elects to
deliver an Exercise Notice together with an executed Purchase Agreement, the purchase of the MMS Shares by Midas shall be subject to necessary regulatory approvals and such other conditions as may be set forth in the Purchase Agreement. For purposes
of this Agreement, the term “MMS Shares” includes the shares of any successor of MMS permitted under Article IV, Section 4 of the Strategic Agreement, which successor is majority owned by Norauto. 
  
 b. In the event that (i) Midas does not deliver an Exercise
Notice together with an executed Purchase Agreement within sixty (60) calendar days after its receipt of the Transfer Notice or (ii) Midas does deliver an Exercise Notice together with an executed Purchase Agreement within sixty (60) calendar days
after its receipt of the Transfer Notice but the closing of the sale of the MMS Shares to Midas does not occur for any reason whatsoever (other than through a material fault or action of Norauto) by the later of (A) four (4) months after the date of
the Exercise Notice and (B) any closing date that may be set forth in the Purchase Agreement, Norauto may, without prejudice to any possible rights or remedies that Norauto may have under applicable law, consummate a Share Transfer to the Proposed
Transferee upon the terms and conditions set forth in the Transfer Notice and the Purchase Agreement. 
  
 c. In the event that (i) Midas does not deliver an Exercise Notice together with an executed Purchase Agreement but a Share Transfer to
the Proposed Transferee does not occur on substantially the same terms and conditions as set forth in the Purchase Agreement within six (6) months after the date of the Transfer Notice or (ii) Midas delivers an Exercise Notice together with an
executed Purchase Agreement 

  

 -2- 

 
but (a) the closing of the sale of the MMS Shares to Midas does not occur within the applicable time period specified in paragraph b. (ii) above, and (b) a
closing of the sale of the MMS Shares to the Proposed Transferee does not occur on substantially the same terms and conditions as set forth in the Purchase Agreement within ten (10) months after the date of the Transfer Notice, Midas’ rights
under this paragraph 3 shall again become effective and the procedures set forth in this paragraph 3 shall be applicable to any future Share Transfer whether to the Proposed Transferee or otherwise. 
  
 d. The parties agree that the rights contained in this
paragraph 3 shall apply only to Norauto and any directly or indirectly owned entity of Norauto that owns the MMS Shares, and the rights of Midas under this paragraph 3 shall terminate following the completion of the Share Transfer by Norauto or any
directly or indirectly owned entity of Norauto that owns the MMS Shares to the Proposed Transferee. 
  
 e. The rights contained in this paragraph 3 are in addition to, and do not amend or replace, the rights contained in Article II, Section
5.5 of the Strategic Agreement as such rights relate to Midas’ right to acquire the assets and rights relevant to the Midas System in any particular country where Norauto or MMS choose to no longer operate the Midas System, other than through a
majority owned affiliate of Norauto. 
  
 4. Non-Competition
Restrictions. For the avodiance of doubt, Midas agrees that the non-competition restrictions contained in Article II, Section 8 of the Strategic Agreement will not prevent Norauto from freely continuing to own, operate and develop Norauto’s
retail, maintenance and service businesses, including, without limitation, any franchising arrangements, which Norauto now or hereafter operates under its existing and future trademarks. 
  
 5. MMS Compliance. Midas hereby confirms, to its knowledge, that MMS was, until the date of the Letter, in compliance
with the Strategic Agreement and the License Agreement. 
  
 6.
Condition Precedent. This Agreement shall be effective upon the closing of the Transaction; provided, that this Agreement shall be null and void if the closing of the Transaction does not occur on or before December 31, 2004. 
  
 7. Counterparts. This Agreement may be executed in any number of
counterparts, and each such counterpart shall be deemed to be an original instrument, but all such counterparts together shall constitute a single agreement. 
  
 [signatures appear on the following page] 
  

 -3- 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their respective
officers or representatives thereunto duly authorized, as of the date first above written. 
  

					
	MIDAS INTERNATIONAL CORPORATION
		
	By:	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 

  

					
	NORAUTO S.A.
		
	By:	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 

  

 -4-Form of Incentive Stock Option Agreement under the 2002 Stock Incentive Plan

 Exhibit 10.1 
  
 INCENTIVE STOCK OPTION AGREEMENT 
 UNDER 
 STEREOTAXIS, INC. 
 2002 STOCK INCENTIVE PLAN 
  
 THIS AGREEMENT, made this      day of             , 20    , by and between Stereotaxis,
Inc. (the “Company”), and                      (“Optionee”); 
  
 WITNESSETH THAT: 
  
 WHEREAS, the Board of Directors of the Company (the “Board of Directors”) has adopted the Stereotaxis, Inc. 2002 Stock Incentive Plan
(the “Plan”) pursuant to which options covering an aggregate of                  shares of the common stock of the Company may be granted to employees
of the Company and its subsidiaries and certain other individuals; and 
  
 WHEREAS, the Company desires to grant to Optionee the option to purchase certain shares of its stock under the terms of the Plan; 
  
 NOW, THEREFORE, in consideration of the premises, and of the mutual agreements hereinafter set forth, it is covenanted and agreed as follows:

  
 1. Grant Subject to Plan. This option is
granted under and is expressly subject to, all the terms and provisions of the Plan, which terms are incorporated herein by reference. The Committee referred to in Paragraph 4 of the Plan (“Committee”) has been appointed by the Board of
Directors, and designated by it, as the Committee to make grants of options. 
  
 2. Grant and Terms of Option. Pursuant to action of the Committee, which action was taken on
                    , 200     (“Date of Grant”), the Company grants to Optionee the option to purchase
all or any part of                      (            ) shares of the
common stock of the Company, for a period of ten (10) years from the Date of Grant, at the purchase price of $              per share; provided, however, that the right to exercise
such option shall be, and is hereby, restricted so that no shares may be purchased prior to the first anniversary of the Date of Grant; that at any time during the term of this option on or after the first anniversary of the Date of Grant, Optionee
may purchase up to 25% of the total number of shares to which this option relates; that as of the first day of each calendar month after the first anniversary of the Date of Grant during the term of this option, Optionee may purchase up to an
additional 2.0833% of the total number of shares to which this option relates; so on the fourth anniversary of the Date of Grant during the term hereof, Optionee will have become entitled to purchase the entire number of shares to which this option
relates. Notwithstanding the foregoing, in the event of a Change of Control (as hereinafter defined) and if Optionee’s employment is terminated in contemplation of, or within one (1) year after, the Change of Control, Optionee may purchase 100%
of the total number of shares to which this option relates. However, in no event may this option or any part thereof be exercised after the expiration of ten (10) years from the Date of Grant. The purchase 

 price of the shares subject to the option may be paid for (i) in cash, (ii) in the discretion of the Committee, by tender
of shares of Common Stock already owned by Optionee, or (iii) in the discretion of the Committee, by a combination of methods of payment specified in clauses (i) and (ii). In addition, Optionee may effect a “cashless exercise” of this
option in which the option shares are sold through a broker and a portion of the proceeds to cover the exercise price is paid to the Company, or otherwise, all in accordance with the rules and procedures adopted by the Committee. Provided, however,
that no shares of Common Stock may be tendered in exercise of this option if such shares were acquired by Optionee through the exercise of an Incentive Stock Option, unless (i) such shares have been held by Optionee for at least one year, and (ii)
at least two years have elapsed since such Incentive Stock Option was granted. For the purposes of this Agreement, a Change of Control means: 
  
 a. The purchase or other acquisition (other than from the Company) by any person, entity or group of persons, within the meaning of
Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (excluding, for this purpose, the Company or its subsidiaries or any employee benefit plan of the Company or its subsidiaries), of beneficial
ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either the then-outstanding shares of common stock of the Company or the combined voting power of the Company’s then-outstanding voting securities
entitled to vote generally in the election of directors; or 
  
 b. Individuals who, as of the date hereof, constitute the Board of Directors of the Company (the “Board” and, as of the date hereof, the “Incumbent Board”) cease for any reason to constitute at
least a majority of the Board, provided that any person who becomes a director subsequent to the date hereof whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the
directors then comprising the Incumbent Board (other than an individual whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of directors of the Company, as such terms are used in
Rule 14a-11 of Regulation 14A promulgated under the Exchange Act) shall be, for purposes of this section, considered as though such person were a member of the Incumbent Board; or 
  
 c. The consummation of a reorganization, merger or consolidation, in each case with respect to which persons
who were the stockholders of the Company immediately prior to such reorganization, merger or consolidation do not, immediately thereafter, own more than 50% of, respectively, the common stock and the combined voting power entitled to vote generally
in the election of directors of the reorganized, merged or consolidated corporation’s then-outstanding voting securities, or of a liquidation or dissolution of the Company or of the sale of all or substantially all of the assets of the Company.

  
 3. Anti-Dilution Provisions. In the event
that, during the term of this Agreement, there is any change in the number or kind of shares of outstanding Common Stock of 
  

 2 

 the Company by reason of stock dividends, recapitalizations, mergers, consolidations, split-ups, combinations or
exchanges of shares and the like, the number of shares covered by this option agreement and the price thereof shall be adjusted, to the same proportionate number of shares and price as in this original agreement. 
  
 4. Investment Purpose. Optionee represents that, in the
event of the exercise by him of the option hereby granted, or any part thereof, he intends to purchase the shares acquired on such exercise for investment and not with a view to resale or other distribution; except that the Company, at its election,
may waive or release this condition in the event the shares acquired on exercise of the option are registered under the Securities Act of 1933, or upon the happening of any other contingency which the Company shall determine warrants the waiver or
release of this condition. Optionee agrees that the certificates evidencing the shares acquired by him on exercise of all or any part of this option, may bear a restrictive legend, if appropriate, indicating that the shares have not been registered
under said Act and are subject to restrictions on the transfer thereof, which legend may be in the following form (or such other form as the Company shall determine to be proper), to-wit: 
  
 “The shares represented by this certificate have not been registered
under the Securities Act of 1933, but have been issued or transferred to the registered owner pursuant to the exemption afforded by Section 4(2) of said Act. No transfer or assignment of these shares by the registered owner shall be valid or
effective, and the issuer of these shares shall not be required to give any effect to any transfer or attempted transfer of these shares, including without limitation, a transfer by operation of law, unless (a) the issuer shall have received an
opinion of its counsel that the shares may be transferred without requirement of registration under said Act, or (b) there shall have been delivered to the issuer a ‘no-action’ letter from the staff of the Securities and Exchange
Commission, or (c) the shares are registered under said Act.” 
  
 5. Non-Transferability. Neither the option hereby granted nor any rights thereunder or under this Agreement may be assigned, transferred or in any manner encumbered except by will or the laws of descent and
distribution, and any attempted assignment, transfer, mortgage, pledge or encumbrance except as herein authorized, shall be void and of no effect. The option may be exercised during Optionee’s lifetime only by him. 
  
 6. Termination of Employment. Optionee must exercise the
option prior to his termination of employment, except that if the employment of Optionee terminates without Cause (as hereinafter defined) Optionee may exercise this option, to the extent that he was entitled to exercise it at the date of such
termination of employment, at any time within thirty (30) days after such termination, but not after ten (10) years from the Date of Grant. For this purpose, “Cause” shall mean Optionee’s fraud or willful misconduct as determined by
the Committee. If Optionee terminates employment on account of disability he may exercise such option to the extent he was entitled to exercise it at the date of such termination at any time within one (1) year of the termination of his employment
but not after ten (10) years from the 
  

 3 

 Date of Grant. For this purpose Optionee shall be deemed to be disabled if he is permanently and totally disabled within
the meaning of Section 422(c)(6) of the Internal Revenue Code of 1986, as amended (“Code”), which, as of the date hereof, shall mean that he is unable to engage in any substantial gainful activity by reason of any medically determinable
physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months. Optionee shall be considered disabled only if he furnishes such proof of
disability as the Committee may require. The option hereby granted shall not be affected by any change of employment so long as Optionee continues to be an employee of the Company or a subsidiary thereof. Nothing herein shall confer on Optionee the
right to continue in the employ of the Company or any subsidiary or interfere in any way with the right of the Company or any subsidiary thereof to terminate his employment at any time. 
  
 7. Death of Optionee. In the event of the death of Optionee during the term of this Agreement and while
he is employed by the Company (or a subsidiary), or within thirty (30) days after the termination of his employment (or one (l) year in the case of the termination of employment if Optionee is disabled as determined under paragraph 6, above), this
option may be exercised, to the extent that he was entitled to exercise it at the date of his death, by a legatee or legatees of Optionee under his last will, or by his personal representatives or distributees, at any time within a period of one (1)
year after his death, but not after ten (10) years from the date hereof, and only if and to the extent that he was entitled to exercise the option at the date of his death. 
  
 8. Shares Issued on Exercise of Option. It is the intention of the Company that on any exercise of this
option it will transfer to Optionee shares of its authorized but unissued stock or transfer Treasury shares, or utilize any combination of Treasury shares and authorized but unissued shares, to satisfy its obligations to deliver shares on any
exercise hereof. 
  
 9. Committee
Administration. This option has been granted pursuant to a determination made by the Committee, and such Committee or any successor or substitute committee authorized by the Board of Directors or the Board of Directors itself, subject to the
express terms of this option, shall have plenary authority to interpret any provision of this option and to make any determinations necessary or advisable for the administration of this option and the exercise of the rights herein granted, and may
waive or amend any provisions hereof in any manner not adversely affecting the rights granted to Optionee by the express terms hereof. 
  
 10. Option an Incentive Stock Option. It is intended that this option shall be treated as an incentive stock option under Section 422 of the
Code. 
  
 11. Choice of Law. This Agreement shall be
governed by the laws of the State of Delaware, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of the Agreement to the substantive law of another jurisdiction. Optionee is deemed
to submit to the exclusive jurisdiction and venue of the federal or state courts of Missouri, County of St. Louis, to resolve any and all issues that may arise out of or relate to this Agreement. 
  

 4 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed on its behalf by its Vice
President and to be attested by its Secretary under the seal of the Company, pursuant to due authorization, and Optionee has signed this Agreement to evidence his acceptance of the option herein granted and of the terms hereof, all as of the date
hereof. 
  

					
	 	 	 STEREOTAXIS, INC.

			
	 	 	 By
	 	  

	 	 	 	 	 Vice President

	 ATTEST:
	 	 	 	 
	  
  

	 	 	 	 
	 Secretary
	 	 	 	  

	 	 	 	 	 Optionee

  

 5

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