Document:

exv10w1

Exhibit 10.1

EMPLOYMENT AGREEMENT

     THIS EMPLOYMENT AGREEMENT (the “Agreement”), effective as of October 21, 2008 (the “Effective
Date”), is entered into on November 21, 2008 (the “Execution Date”) by and between The
Spectranetics Corporation, a Delaware corporation (the “Company”), and Emile Geisenheimer (the
“Executive”).

     WHEREAS, the Company desires to employ the Executive as its President and Chief Executive
Officer, and the Executive desires to be employed by the Company in such capacities, in accordance
with the terms and conditions set forth in this Agreement.

     NOW, THEREFORE, in consideration of the mutual agreements set forth herein, the parties hereto
hereby agree as follows:

     1. Term. Subject to earlier termination as hereinafter provided, Executive’s
employment hereunder shall be for a period (the “Employment Period”) commencing on the Effective
Date and ending on the third anniversary of the Effective Date (the “Initial Termination Date”).
If not previously terminated, the Employment Period shall automatically be extended for one
additional year on the Initial Termination Date and on each subsequent anniversary of the Initial
Termination Date, unless either Executive or the Company elects not to so extend the Employment
Period by notifying the other party, in writing, of such election not less than sixty (60) days
prior to the last day of the then current Employment Period.

     2. Position, Duties and Responsibilities.

          (a) Position. Effective on the Effective Date, the Company shall employ Executive,
and Executive hereby agrees to serve the Company, as President and Chief Executive Officer of the
Company. Executive shall perform such employment duties as are usual and customary for such
positions and shall report to the Board of Directors of the Company (the “Board”). Subject to the
provisions of Section 2(c) below, Executive shall devote his best efforts and his full business
time and attention to the performance of services hereunder for the Company and its subsidiaries
and affiliates and as may reasonably be requested by the Board. In addition, during the Employment
Period, the Company shall use its best efforts to cause the Executive to be nominated to stand for
election to the Board at any meeting of stockholders of the Company during which any such election
is held and the Executive’s term as director will expire if he is not reelected; provided, however,
that the Company shall not be so obligated if any of the events constituting Cause (as defined
below) have occurred and not been cured. Subject to election by the Board, Executive shall serve
as the Chairman of the Board.

          (b) Place of Employment. During the Employment Period, Executive’s principal place of
employment shall be the Company’s offices in Connecticut, provided that Executive shall travel
to/from and work at the Company’s principal business offices located in Colorado Springs, Colorado
as necessary or desirable to perform the duties and responsibilities contemplated hereby.
Notwithstanding the foregoing, the Company may from time to time require Executive to travel
temporarily to other locations on the Company’s business.

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          (c) Exclusivity. Except with the prior written approval of the Board (which the Board
may grant or withhold in its sole and absolute discretion), during the Employment Period, Executive
shall not (i) accept any other employment or consultancy, (ii) serve on more than two boards of
directors or similar bodies of any other entity, or (iii) engage, directly or indirectly, in any
other business activity (whether or not pursued for pecuniary advantage), in each case that is or
may be competitive with, or that might place him in a competing position to, that of the Company or
any of its subsidiaries or affiliates; provided, however, that nothing in this Agreement shall (1)
limit Executive’s ability to provide services to or participate in non-profit, charitable or civic
organizations or to manage personal investments, or (2) preclude Executive from conducting the
affairs of Madison Investment Partners, Inc. and its affiliates, in each case, to the extent that
such activities do not materially interfere with Executive’s performance of his duties hereunder.

     3. Compensation and Related Matters.

          (a) Salary. During the Employment Period, the Company shall pay Executive an annual
base salary of not less than $500,000 per year (the “Base Salary”), which shall be paid to
Executive in accordance with the Company’s standard payroll practices. Executive’s Base Salary
shall be subject to review by the Board or the Compensation Committee of the Board on an annual
basis commencing no later than October 21, 2009.

          (b) Annual Bonus. Provided that the Executive remains employed by the Company on the
last day of the applicable fiscal year of the Company, during the Employment Period, Executive will
be eligible to receive an annual bonus under the Company’s incentive bonus plan applicable to
similarly situated executives of the Company. The amount of Executive’s annual bonus (the “Annual
Bonus”) will be based on the attainment of annual performance criteria established and evaluated by
the Compensation Committee of the Board in accordance with the terms of such bonus plan as in
effect from time to time, provided that, subject to the terms of such bonus plan, Executive’s
Annual Bonus at target performance will be 50% of Executive’s Base Salary for such year. Any
Annual Bonus payable to the Executive with respect to the 2008 fiscal year shall be pro rated based
on the Base Salary actually paid for such partial fiscal year and shall be based on the 2008 bonus
targets for executive officers that were set by the Compensation Committee of the Board in early
2008 and include quantitative targets weighted at 75% of the Annual Bonus and qualitative targets
weighted at 25% of the Annual Bonus. Any Annual Bonus that becomes payable to the Executive shall
be paid as soon as practicable following the end of the year for which the Annual Bonus is earned,
but in no event later than June 30 of such following year.

          (c) Equity Compensation. The Company shall, on the Execution Date, grant Executive
the following stock options (the “Options”) to purchase shares of common stock of the Company under
the Company’s 2006 Incentive Award Plan (the “Incentive Plan”), in each case at an exercise price
per share equal to the Fair Market Value (as defined in the Incentive Plan) of a share of Company
common stock on the date of grant:

               (i) An option to purchase 250,000 shares of common stock of the

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Company (the “Time Vesting
Option”). The terms and conditions of the Time Vesting Option, including, without limitation, such
option’s vesting and exercisability, shall be set forth in a stock option agreement to be entered
into by the Company and Executive substantially in the form attached hereto as Exhibit A
(the “Time Vesting Option Agreement”).

               (ii) An option to purchase 150,000 shares of common stock of the Company (the “Conditional
Time Vesting Option”). The terms and conditions of the Conditional Time Vesting Option, including,
without limitation, such option’s vesting and exercisability, shall be set forth in a stock option
agreement to be entered into by the Company and Executive substantially in the form attached hereto
as Exhibit B (the “Conditional Time Vesting Option Agreement”).

               (iii) An option to purchase 400,000 shares of common stock of the Company (the “Conditional
Performance Vesting Option”). The terms and conditions of the Conditional Performance Vesting
Option, including, without limitation, such option’s vesting and exercisability, shall be set forth
in a stock option agreement to be entered into by the Company and Executive substantially in the
form attached hereto as Exhibit C (the “Conditional Performance Vesting Option Agreement,”
and collectively with the Time Vesting Option Agreement and the Conditional Time Vesting Option
Agreement, the “Option Agreements”).

The parties acknowledge and agree that the Options will be granted prior to approval by the
Company’s stockholders of the Plan Amendment (as defined below). The Company shall submit the Plan
Amendment for approval by the Company’s stockholders at the next annual meeting of the Company’s
stockholders following the Execution Date. Notwithstanding anything contained in this Agreement or
any Option Agreement, neither the Conditional Time Vesting Option nor the Conditional Performance
Vesting Option shall be exercisable to any extent by anyone prior to the time when the Plan
Amendment is approved by the Company’s stockholders, and if such approval is not obtained at such
annual meeting (or by the end of the twelve month period immediately following the date on which
the Board adopted the Plan Amendment, if earlier), each of the Conditional Time Vesting Option and
the Conditional Performance Vesting Option shall thereupon automatically be canceled and become
null and void.

For purposes of this Agreement, “Plan Amendment” shall mean that certain Sixth Amendment to The
Spectranetics Corporation 2006 Incentive Award Plan which was adopted by the Board as of November
19, 2008, subject to approval thereof by the Company’s stockholders.

          (d) Housing and Automobile Allowance. During the Employment Period, the Company shall
pay Executive a combined monthly housing and automobile allowance in an aggregate amount equal to
$5,000 per month, payable on the first regular Company payroll date of each month.

          (e) Business and Travel Expenses. During the Employment Period, the Company shall
reimburse Executive for reasonable business expenses actually incurred by Executive in connection
with the conduct of the Company’s business, and shall reimburse Executive for reasonable travel
expenses actually incurred by Executive for travel by him (but not any member of his family or any
other party) between Connecticut and the Company’s

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offices in Colorado Springs, Colorado, in each
case upon presentation of proper documentation of such expenses consistent with the Company’s
policies as in effect from time to time.

          (f) Health Care Premiums. During the Employment Period, provided that Executive is
not then participating in the Company’s health insurance plan, the Company shall reimburse
Executive in an amount not to exceed $23,000 per year for premium costs actually incurred by
Executive for family health insurance coverage under a plan not sponsored or maintained by the
Company. Executive’s right to such reimbursement shall be subject to and conditioned on his
submission to the Company of proper documentation evidencing such expenditures not later than the
30th day following the end of the calendar quarter in which such expense was incurred.

          (g) Other Benefits. During the Employment Period, Executive shall be eligible to
participate in all savings and retirement plans, and all group welfare benefit plans maintained by
the Company from time to time which are applicable to the Company’s senior executive officers,
subject to the terms and conditions of such plans. Notwithstanding the foregoing, nothing herein
is intended, or shall be construed to require the Company to institute or continue any, or any
particular, plan or benefits.

          (h) Vacation, Etc.. During the Employment Period, Executive shall be entitled to
vacation, sick leave, holidays and other paid time-off benefits provided by the Company from time
to time which are applicable to the Company’s senior executive officers.

          (i) Taxes. Except to the extent otherwise required by applicable law, Executive shall
be solely responsible for any and all income and other taxes with respect to the amounts payable to
him under Section 3(d) and 3(e), and the Company shall not have any obligation or liability with
respect thereto or any obligation or liability to make any additional payments to Executive to
cover any such taxes.

     4. Termination. Executive’s employment hereunder shall be terminated, or may be
terminated, as the case may be, under the following circumstances:

          (a) Death. Executive’s employment hereunder shall automatically terminate upon his
death.

          (b) Disability. The Company may terminate Executive’s employment hereunder in the
event of his physical or mental disability or infirmity which, in the opinion of a competent
physician selected by the Board, renders Executive unable to perform his duties under this
Agreement for more than 90 days during any 180-day period.

          (c) Cause. The Company may terminate Executive’s employment hereunder for Cause. For
purposes of this Agreement, “Cause” shall mean (i) a failure by Executive to render services to the
Company or its subsidiaries in accordance with his assigned duties and responsibilities, and such
failure of performance continues for a period of more than fifteen days after notice thereof has
been provided to Executive by the Company (other than any such failure resulting from Executive’s
disability); (ii) any action or omission by Executive involving willful

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misconduct or gross
negligence relating to his duties and responsibilities to the Company or its affiliates, including
without limitation, disloyalty, dishonesty or breach of fiduciary duty; (iii) Executive’s
commission of (as determined by the Company) or indictment for a crime, either in connection with
the performance of his obligations to the Company or its affiliates or which otherwise shall
significantly adversely affect his ability to perform such obligations or which shall significantly
adversely affect the business activities, reputation, goodwill or image of the Company or its
affiliates; (iv) Executive’s breach of any material obligation he has under any written agreement
with the Company or its affiliates or which have been delegated to him by the Company which, if
capable of cure, is not cured within five days from receipt of notice from the Company; or (v) any
act of fraud, embezzlement, theft or misappropriation from the Company or its affiliates by
Executive.

          (d) Non-Cause Termination. Subject to Section 5(c) below, the Company may terminate
Executive’s employment hereunder without Cause. Notwithstanding anything contained herein, in no
event shall the expiration of the Employment Period or the Company’s election not to renew the
Employment Period constitute a termination of Executive’s employment by the Company without Cause.

          (e) Resignation. Executive may resign his position and terminate his employment with
the Company at any time with or without Good Reason by delivery of a written notice of resignation
to the Company (the “Notice of Resignation”). In the event of a resignation without Good Reason,
the Notice of Resignation shall set forth the date such resignation shall become effective, which
date shall, in any event, be at least thirty (30) days and no more than such number of days as the
Company may determine following the date the Notice of Resignation is delivered to the Company.
For purposes of this Agreement, “Good Reason” shall mean (i) a material diminution in the
authority, duties or responsibilities of the Executive as President and Chief Executive Officer of
the Company, or (ii) a material reduction of Executive’s Base Salary; provided, however, that
no resignation shall constitute a resignation for Good Reason unless and until (1) Executive has
first provided the Company with written notice specifically identifying the acts or omissions
constituting the grounds for “Good Reason” within thirty days after the initial existence of the
facts or circumstances constituting Good Reason, (2) the Company has not cured such acts or
omissions within thirty days of its actual receipt of such notice, and (3) the effective date of
Executive’s termination for Good Reason occurs no later than ninety days after the initial
existence of the facts or circumstances constituting Good Reason.

     5. Obligations upon Termination.

          (a) Executive’s Termination Obligations. Upon termination of the Employment Period
for any reason, Executive shall be deemed to have resigned from all offices and directorships, if
any, then held with the Company or any subsidiary or affiliate, and, at the Company’s request,
Executive shall execute such documents as are necessary or desirable to effectuate such
resignations; provided, however, that this Section 5(a) shall not apply to Executive’s position as
a member of the Board.

          (b) Payments of Accrued Obligations Upon Termination of Employment. In the event of
Executive’s termination of employment with the Company for any reason, the

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Company shall pay
Executive or Executive’s estate or legal representative (as applicable) (i) all unpaid salary and
unpaid vacation accrued by Executive through the date of termination, (ii) any accrued, unpaid
bonuses for any fiscal year of the Company ended prior to the date of termination, and (iii) any
unreimbursed business expenses incurred by Executive, in accordance with Company policy for senior
executives, prior the date of termination (the “Accrued Obligations”).

          (c) Severance upon Termination Without Cause or for Good Reason. Subject to Section
5(d) below, in the event that Executive incurs a “separation from service” from the Company (within
the meaning of Section 409A(a)(2)(A)(i) of the Internal Revenue Code of 1986, as amended (the
“Code”), and Treasury Regulation Section 1.409A-1(h)) (a “Separation from Service”) by reason of a
termination of Executive’s employment by the Company without Cause or by Executive for Good Reason,
then, subject to Section 5(e) below, the Company shall pay Executive within 60 days after the date
of such Separation from Service (the “Termination Date”) (with the exact payment date to be
determined by the Company in its discretion), a lump-sum payment (the “Severance Payment”) in an
amount equal to 100% of the Executive’s Base Salary as in effect on the date of termination of
Executive’s employment.

          (d) General Release. The Executive’s right to receive the Severance Payment is
conditioned on and subject to the Executive’s execution within 21 days (or, to the extent required
by applicable law, 45 days) following the Termination Date and non-revocation within 7 days
thereafter of a general release of claims against the Company, its subsidiaries and affiliates in a
form prescribed by the Company.

          (e) Six-Month Delay. Notwithstanding anything to the contrary in this Agreement, no
compensation or benefits, including without limitation the Severance Payment, shall be paid to
Executive during the six (6)-month period following the Termination Date to the extent that paying
such amounts at the time or times indicated in this Agreement would result in a prohibited
distribution under Section 409A(a)(2)(b)(i) of the Code. If the payment of any such amounts is
delayed as a result of the previous sentence, then on the first business day following the end of
such six-month period, the Company shall pay Executive a lump-sum amount equal to the cumulative
amount that would have otherwise been payable to Executive during such six-month period.

     6. Confidential and Proprietary Information. As a condition of Executive’s employment
with the Company, Executive agrees that during the Employment Period and thereafter, Executive will
not directly or indirectly disclose or appropriate to Executive’s own use, or the use of any third
party, any trade secret or confidential information concerning the Company, its subsidiaries or
affiliates or their businesses, whether or not developed by Executive, except as it is required in
connection with Executive’s services rendered for the Company. Executive further agrees that, upon
termination of Executive’s employment, Executive will not receive or remove from the files or
offices of the Company any originals or copies of documents or other materials maintained in the
course of business of the Company, and that Executive will return any such documents or materials
otherwise in Executive’s possession. Executive hereby acknowledges that irreparable injury will
result to the Company in the event of a breach by Executive of Executive’s obligations under this
Section 6 or Section 7 below, that

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monetary damages for such breach would not be readily
calculable, and that the Company would not have an adequate remedy at law therefor. Executive
further acknowledges, consents and agrees that in the event of such breach, or the threat thereof,
the Company shall be entitled, in addition to any other legal remedies and damages available, to
specific performance thereof and to temporary and permanent injunctive relief (without the
necessity of posting a bond) to restrain the violation or threatened violation of such obligations
by Executive. The provisions of this Section 6 and of Section 7 below, and Executive’s obligations
under such sections, shall survive the termination of Executive’s employment and the termination of
this Agreement.

     7. Non-Solicitation. Executive further agrees that during the Employment Period and
for a period of one year after Executive’s employment is terminated, Executive will not directly or
indirectly solicit, induce, or encourage any employee, consultant, agent, customer, vendor, or
other parties doing business with the Company to terminate their employment, agency, or other
relationship with the Company or to render services for or transfer their business from the Company
and Executive will not initiate discussion with any such person for any such purpose or authorize
or knowingly cooperate with the taking of any such actions by any other individual or
entity.1

     8. Notice. Any notice or other communication required or permitted under this
Agreement shall be effective only if it is in writing and delivered personally or sent by fax,
email or registered or certified mail, postage prepaid, addressed as follows (or if it is sent
through any other method agreed upon by the parties):

If to the Company:

The Spectranetics Corporation

9965 Federal Drive

Colorado Springs, Colorado 80921

Attention: General Counsel

          If to Executive: at Executive’s most recent address on the books and records of the
Company.

     9. Withholding. All amounts payable under this Agreement shall be subject to
reduction to reflect such federal, state, local or foreign taxes as shall be required to be
withheld pursuant to any applicable law or regulation.

     10. Code Section 409A.

          (a) To the extent applicable, this Agreement shall be interpreted and applied consistent and
in accordance with Section 409A of the Code and Department of Treasury regulations and other
interpretive guidance issued thereunder. Notwithstanding any provision of this Agreement to the
contrary, if the Company determines that any compensation or benefits payable under this Agreement
may not be either exempt from or compliant with Section 409A of the Code and related Department of
Treasury guidance, the Company may in its sole discretion

 

			
	1	 	Subject to review by local counsel.

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adopt such amendments to this Agreement
or take such other actions that the Company determines are necessary or appropriate to (i) exempt
the compensation and benefits payable under this Agreement from Section 409A of the Code and/or
preserve the intended tax treatment of such compensation and benefits, or (ii) comply with the
requirements of Section 409A of the Code and related Department of Treasury guidance; provided,
however, that this Section 10(a) shall not create any obligation on the part of the Company to
adopt any such amendment or take any other action.

          (b) To the extent permitted under Section 409A of the Code, any separate payment or benefit
under this Agreement or otherwise shall not be deemed “nonqualified deferred compensation” subject
to Section 409A of the Code and Section 5(d) hereof to the extent provided in the exceptions in
Treasury Regulation Section 1.409A-1(b)(4), Section 1.409A-1(b)(9) or any other applicable
exception or provision of Section 409A of the Code.

          (c) To the extent that any payments or reimbursements provided to Executive under this
Agreement, including, without limitation, the payments and benefits under Sections 3(d), 3(e) and
3(f), are deemed to constitute compensation to which Treasury Regulation Section 1.409A-3(i)(1)(iv)
would apply, such amounts shall be paid or reimbursed to Executive reasonably promptly, but not
later than December 31 of the year following the year in which the expense was incurred. The
amounts of any such payments eligible for reimbursement in one year shall not affect the payments
or expenses that are eligible for payment or reimbursement in any other taxable year, and
Executive’s right to such payments or reimbursement shall not be subject to liquidation or exchange
for any other benefit.

     11. Severability. The invalidity or unenforceability of any provision or provisions
of this Agreement shall not affect the validity or enforceability of any other provision of this
Agreement, which shall remain in full force and effect.

     12. Assignment. This Agreement may not be assigned by Executive, but may be assigned
by the Company to any subsidiary or affiliate thereof or to any successor to its business or
assets, and shall inure to the benefit and be binding upon any such entities.

     13. Counterparts. This Agreement may be executed in several counterparts, each of
which shall be deemed to be an original but all of which together shall constitute one and the same
instrument.

     14. Choice of Law. This Agreement (including any claim or controversy arising out of
or relating to this Agreement) shall be construed, interpreted and the rights of the parties
determined in accordance with the laws of the State of Colorado (without regard to conflict of law
principles that would result in the application of any law other than the law of the State of
Colorado).

     15. Entire Agreement. Effective as of the Effective Date, this Agreement replaces,
terminates and supersedes all prior understandings or agreements between Executive and the Company
regarding the subject matter hereof. Executive hereby agrees that as of the Effective Date, any
other such agreement or understanding is hereby terminated and shall be of no further

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force or
effect. This Agreement may be modified only by a further writing that is duly executed by both
parties.

     16. Executive’s Acknowledgment. Executive acknowledges (a) that he has consulted
with or has had the opportunity to consult with independent counsel of his own choice concerning
this Agreement and has been advised to do so by the Company, and (b) that he has read and
understands the Agreement, is fully aware of its legal effect, and has entered into it freely based
on his own judgment.

[Signature page follows]

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     IN WITNESS WHEREOF, the parties have executed this Agreement on the date and year indicated
above.

	 	 	 	 	 	 	 
	 	 	THE SPECTRANETICS CORPORATION.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ David G. Blackburn
	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	David G. Blackburn	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	 	 	EXECUTIVE	 	 
	 
	 	 	 	 	 	 
	 	 	/s/ Emile Geisenheimer	 	 
	 	 	 	 	 
	 	 	Emile Geisenheimer	 	 

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EXHIBIT A

TIME VESTING OPTION AGREEMENT

 

 

EXHIBIT B

CONDITIONAL TIME VESTING OPTION AGREEMENT

 

 

EXHIBIT C

CONDITIONAL PERFORMANCE VESTING OPTION AGREEMENTexv10w2

Exhibit 10.2

 [Time Vesting Option]

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:

	 	Emile Geisenheimer
	 	 
	Grant Date:

	 	November 21, 2008
	 	 
	Vesting Commencement Date:

	 	October 21, 2008
	 	 
	Exercise Price per Share:

	 	$ 	 	 	 	 
	 

	 	 	 	 	 
	Total Exercise Price:

	 	$ 	 	 	 	 
	 

	 	 	 	 	 
	Total Number of Shares
	 	 	 	 	 	 
	Subject to the Option:

	 	250,000 shares
	 	 
	Expiration Date:

	 	November 20, 2018
	 	 

	 	 	 
	Type of Option:

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

	 	Subject to the Participant’s continued Service, the Option shall vest and become exercisable with respect to
1/36th of the shares subject thereto on each monthly anniversary of the Vesting Commencement Date
set forth above (the “Vesting Commencement Date”) such that the Option shall be vested and exercisable with
respect to 100% of the shares subject thereto on the third anniversary of the Vesting Commencement Date.

     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:
	 	Emile Geisenheimer	 	 
	 

	 	 	 	 	 	 	 	 
	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) “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.

          (c) “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 become vested and exercisable in
such amounts and at such times as are set forth in the Grant Notice.

          (b) 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) a Change in Control, or (ii) a termination of the Participant’s
employment by the Company without Cause or by the Participant for Good Reason (each as defined in
that certain Employment Agreement, effective as of October 21, 2008, between the Company and the
Participant).

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     3.3 Duration of Exercisability. The installments provided for in the vesting schedule
set forth in the Grant Notice are cumulative. Each such installment which becomes vested and
exercisable pursuant to the vesting schedule set forth in the Grant Notice 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 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.

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     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;

          (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.

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     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 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

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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 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.

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     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 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,

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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.

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