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Exhibit 10.116    
    

 
 

CRDENTIA CORP.
  
    2004 STOCK INCENTIVE PLAN
  
    (as Amended and Restated October     , 2007)    
    

        1.    Purposes of the Plan.    The purposes of this Plan are to attract and retain the best available personnel, to
provide additional incentives to Employees, Directors and Consultants and to promote the success of the Company's business. 

        2.    Definitions.    The following definitions shall apply as used herein and in the individual Award Agreements
except as defined otherwise in an individual Award Agreement. In the event a term is separately defined in an individual Award Agreement, such definition shall supercede the definition contained in
this Section 2. 

        (a)   "Administrator" means the Board or any of the Committees appointed to administer the Plan. 

        (b)   "Affiliate" and "Associate" shall have the respective meanings ascribed
to such terms in Rule 12l-2 promulgated under the Exchange Act. 

        (c)   "Applicable Laws" means the legal requirements relating to the Plan and the Awards under applicable provisions of federal
securities laws, state corporate and securities laws, the Code, the rules of any applicable stock exchange or national market system, and the rules of any non-U.S. jurisdiction applicable
to Awards granted to residents therein. 

        (d)   "Assumed" means that pursuant to a Corporate Transaction either (i) the Award is expressly affirmed by the Company
or (ii) the contractual obligations represented by the Award are expressly assumed (and not simply by operation of law) by the successor entity or its Parent in connection with the Corporate
Transaction with appropriate adjustments to the number and type of securities of the successor entity or its Parent subject to the Award and the exercise or purchase price thereof which at least
preserves the compensation element of the Award existing at the time of the Corporate Transaction as determined in accordance with the instruments evidencing the agreement to assume the Award. 

        (e)   "Award" means the grant of an Option, SAR, Dividend Equivalent Right, Restricted Stock, Restricted Stock Unit or other
right or benefit under the Plan. 

        (f)    "Award Agreement" means the written agreement evidencing the grant of an Award executed by the Company and the Grantee,
including any amendments thereto. 

        (g)   "Board" means the Board of Directors of the Company. 

        (h)   "Cause" means, with respect to the termination by the Company or a Related Entity of the Grantee's Continuous Service,
that such termination is for "Cause" as such term is expressly defined in a then-effective written agreement between the Grantee and the Company or such Related Entity, or in the absence
of such then-effective written agreement and definition, is based on, in the determination of the Administrator, the Grantee's: (i) performance of any act or failure to perform any
act in bad faith and to the detriment of the Company or a Related Entity; (ii) dishonesty, intentional misconduct or material breach of any agreement with the Company or a Related Entity; or
(iii) commission of a crime involving dishonesty, breach of trust, or physical or emotional harm to any person. 

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        (i)    "Change in Control" means a change in ownership or control of the Company effected through either of the following
transactions: 

        (i)    the
direct or indirect acquisition by any person or related group of persons (other than an acquisition from or by the Company or by a Company-sponsored employee benefit
plan or by a person that directly or indirectly controls, is controlled by, or is under common control with, the Company) of beneficial ownership (within the meaning of Rule 13d-3
of the Exchange Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Company's outstanding securities pursuant to a tender or exchange offer made
directly to the Company's stockholders which a majority of the Continuing Directors who are not Affiliates or Associates of the offeror do not recommend such stockholders accept, or 

        (ii)   a
change in the composition of the Board over a period of thirty-six (36) months or less such that a majority of the Board members (rounded up to the
next whole number) ceases, by reason of one or more contested elections for Board membership, to be comprised of individuals who are Continuing Directors. 

        (j)    "Code" means the Internal Revenue Code of 1986, as amended. 

        (k)   "Committee" means any committee composed of members of the Board appointed by the Board to administer the Plan. 

        (l)    "Common Stock" means the common stock of the Company. 

        (m)  "Company" means Crdentia Corp., a Delaware corporation, or any successor corporation that adopts the Plan in connection
with a Corporate Transaction. 

        (n)   "Consultant" means any person (other than an Employee or a Director, solely with respect to rendering services in such
person's capacity as a Director) who is engaged by the Company or any Related Entity to render consulting or advisory services to the Company or such Related Entity. 

        (o)   "Continuing Directors" means members of the Board who either (i) have been Board members continuously for a period
of at least thirty-six (36) months or (ii) have been Board members for less than thirty-six (36) months and were elected or nominated for election as Board
members by at least a majority of the Board members described in clause (i) who were still in office at the time such election or nomination was approved by the Board. 

        (p)   "Continuous Service" means that the provision of services to the Company or a Related Entity in any capacity of Employee,
Director or Consultant is not interrupted or terminated. In jurisdictions requiring notice in advance of an effective termination as an Employee, Director or Consultant, Continuous Service shall be
deemed terminated upon the actual cessation of providing services to the
Company or a Related Entity notwithstanding any required notice period that must be fulfilled before a termination as an Employee, Director or Consultant can be effective under Applicable Laws.
Continuous Service shall not be considered interrupted in the case of (i) any approved leave of absence, (ii) transfers among the Company, any Related Entity, or any successor, in any
capacity of Employee, Director or Consultant, or (iii) any change in status as long as the individual remains in the service of the Company or a Related Entity in any capacity of Employee,
Director or Consultant (except as otherwise provided in the Award Agreement). An approved leave of absence shall include sick leave, military leave, or any other authorized personal leave. For
purposes of each Incentive Stock Option granted under the Plan, if such leave exceeds ninety (90) days, and reemployment upon expiration of such leave is not guaranteed by statute or contract,
then the Incentive Stock Option shall be treated as a Non-Qualified Stock Option on the day three (3) months and one (1) day following the expiration of such ninety
(90) day period. 

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        (q)   "Corporate Transaction" means any of the following transactions: 

        (i)    a
merger or consolidation in which the Company is not the surviving entity, except for a transaction the principal purpose of which is to change the state in which the
Company is incorporated; 

        (ii)   the
sale, transfer or other disposition of all or substantially all of the assets of the Company; 

        (iii)  the
complete liquidation or dissolution of the Company; 

        (iv)  any
reverse merger or series of related transactions culminating in a reverse merger (including, but not limited to, a tender offer followed by a reverse merger) in
which the Company is the surviving entity but (A) the shares of Common Stock outstanding immediately prior to such merger are converted or exchanged by virtue of the merger into other property,
whether in the form of securities, cash or otherwise, or (B) in which securities possessing more than forty percent (40%) of the total combined voting power of the Company's outstanding
securities are transferred to a person or persons different from those who held such securities immediately prior to such merger or the initial transaction culminating in such merger, but excluding
any such transaction or series of related transactions that the Administrator determines shall not be a Corporate Transaction; or 

        (v)   acquisition
in a single or series of related transactions by any person or related group of persons (other than the Company or by a Company-sponsored employee benefit
plan) of beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the
Company's outstanding securities
but excluding any such transaction or series of related transactions that the Administrator determines shall not be a Corporate Transaction. 

        (r)   "Covered Employee" means an Employee who is a "covered employee" under Section 162(m)(3) of the Code. 

        (s)   "Director" means a member of the Board or the board of directors of any Related Entity. 

        (t)    "Disability" means as defined under the long-term disability policy of the Company or the Related Entity to
which the Grantee provides services regardless of whether the Grantee is covered by such policy. If the Company or the Related Entity to which the Grantee provides service does not have a
long-term disability plan in place, "Disability" means that a Grantee is unable to carry out the responsibilities and functions of the position held by the Grantee by reason of any
medically determinable physical or mental impairment for a period of not less than ninety (90) consecutive days. A Grantee will not be considered to have incurred a Disability unless he or she
furnishes proof of such impairment sufficient to satisfy the Administrator in its discretion. 

        (u)   "Dividend Equivalent Right" means a right entitling the Grantee to compensation measured by dividends paid with respect
to Common Stock. 

        (v)   "Employee" means any person, including an Officer or Director, who is in the employ of the Company or any Related Entity,
subject to the control and direction of the Company or any Related Entity as to both the work to be performed and the manner and method of performance. The payment of a director's fee by the Company
or a Related Entity shall not be sufficient to constitute "employment" by the Company. 

        (w)  "Exchange Act" means the Securities Exchange Act of 1934, as amended. 

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        (x)   "Fair Market Value" means, as of any date, the value of Common Stock determined as follows: 

        (i)    If
the Common Stock is listed on one or more established stock exchanges or national market systems, including without limitation The NASDAQ Global Select Market, The
NASDAQ Global
Market or The NASDAQ Capital Market of The NASDAQ Stock Market LLC, its Fair Market Value shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on
the principal exchange or system on which the Common Stock is listed (as determined by the Administrator) on the date of determination (or, if no closing sales price or closing bid was reported on
that date, as applicable, on the last trading date such closing sales price or closing bid was reported), as reported in The Wall Street Journal or such other source as the Administrator deems
reliable; 

        (ii)   If
the Common Stock is regularly quoted on an automated quotation system (including the OTC Bulletin Board) or by a recognized securities dealer, its Fair Market Value
shall be the closing sales price for such stock as quoted on such system on the date of determination, but if selling prices are not reported, the Fair Market Value of a share of Common Stock shall be
the mean between the high bid and low asked prices for the Common Stock on the date of determination (or, if no such prices were reported on that date, on the last date such prices were reported), as
reported in The Wall Street Journal or such other source as the Administrator deems reliable; or 

        (iii)  In
the absence of an established market for the Common Stock of the type described in (i) and (ii), above, the Fair Market Value thereof shall be determined by
the Administrator in good faith. 

        (y)   "Grantee" means an Employee, Director or Consultant who receives an Award under the Plan. 

        (z)   "Incentive Stock Option" means an Option intended to qualify as an incentive stock option within the meaning of
Section 422 of the Code 

        (aa) "Non-Qualified Stock Option" means an Option not intended to qualify as an Incentive Stock Option. 

        (bb) "Officer" means a person who is an officer of the Company or a Related Entity within the meaning of Section 16 of
the Exchange Act and the rules and regulations promulgated thereunder. 

        (cc) "Option" means an option to purchase Shares pursuant to an Award Agreement granted under the Plan. 

        (dd) "Parent" means a "parent corporation", whether now or hereafter existing, as defined in Section 424(e) of the
Code. 

        (ee) "Performance-Based Compensation" means compensation qualifying as "performance-based compensation" under
Section 162(m) of the Code. 

        (ff)  "Plan" means this 2004 Stock Incentive Plan. 

        (gg) "Related Entity" means any Parent or Subsidiary of the Company and any business, corporation, partnership, limited
liability company or other entity in which the Company or a Parent or a Subsidiary of the Company holds a substantial ownership interest, directly or indirectly. 

        (hh) "Replaced" means that pursuant to a Corporate Transaction the Award is replaced with a comparable stock award or a cash
incentive program of the Company, the successor entity (if applicable) or Parent of either of them which preserves the compensation element of such Award existing at the time of the Corporate
Transaction and provides for subsequent payout in 

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accordance
with the same (or a more favorable) vesting schedule applicable to such Award. The determination of Award comparability shall be made by the Administrator and its determination shall be
final, binding and conclusive. 

        (ii)   "Restricted Stock" means Shares issued under the Plan to the Grantee for such consideration, if any, and subject to such
restrictions on transfer, rights of first refusal, repurchase provisions, forfeiture provisions, and other terms and conditions as established by the Administrator. 

        (jj)   "Restricted Stock Units" means an Award which may be earned in whole or in part upon the passage of time or the
attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by
the Administrator. 

        (kk) "Rule 16b-3" means Rule 16b-3 promulgated under the Exchange Act or any successor
thereto. 

        (ll)   "SAR" means a stock appreciation right entitling the Grantee to Shares or cash compensation, as established by the
Administrator, measured by appreciation in the value of Common Stock. 

        (mm)    "Share" means a share of the Common Stock. 

        (nn)   "Subsidiary" means a "subsidiary corporation", whether now or hereafter existing, as defined in
Section 424(f) of the Code. 

        3.    Stock Subject to the Plan.    

        (a)   Subject
to the provisions of Section 10, below, the maximum aggregate number of Shares which may be issued pursuant to all Awards (including Incentive Stock
Options) is 2,080,000 Shares, plus an annual increase to be added on the first business day of each calendar year beginning in 2008 equal to the lesser of (x) 1,500,000 Shares, (y) three
percent (3%) of the number of Shares outstanding as of such date, or (z) a lesser number of Shares determined by the Administrator. The Shares to be issued pursuant to Awards may be authorized,
but unissued, or reacquired Common Stock. 

        (b)   Any
Shares covered by an Award (or portion of an Award) which is forfeited, canceled or expires (whether voluntarily or involuntarily) shall be deemed not to have been
issued for purposes of determining the maximum aggregate number of Shares which may be issued under the Plan. Shares that actually have been issued under the Plan pursuant to an Award shall not be
returned to the Plan and shall not become available for future issuance under the Plan, except that if unvested Shares are forfeited, or repurchased by the Company at the lower of their original
purchase price or their Fair Market Value at the time of repurchase, such Shares shall become available for future grant under the Plan. To the extent not prohibited by Section 422(b)(1) of the
Code (and the corresponding regulations thereunder), the listing requirements of The NASDAQ Stock Market LLC (or other established stock exchange or national market system on which the Common Stock is
traded) and Applicable Law, any Shares covered by an Award which are surrendered (i) in payment of the Award exercise or purchase price or (ii) in satisfaction of tax withholding
obligations incident to the exercise of an Award shall be deemed not to have been issued for purposes of determining the maximum number of Shares which may be issued pursuant to all Awards under the
Plan, unless otherwise determined by the Administrator. 

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        4.    Administration of the Plan.    

        (a)   Plan Administrator. 

        (i)    Administration with Respect to Directors and Officers. With respect to grants of Awards to Directors or Employees who are
also Officers or Directors of the Company, the Plan shall be administered by
(A) the Board or (B) a Committee designated by the Board, which Committee shall be constituted in such a manner as to satisfy the Applicable Laws and to permit such grants and related
transactions under the Plan to be exempt from Section 16(b) of the Exchange Act in accordance with Rule 16b-3. Once appointed, such Committee shall continue to serve in its
designated capacity until otherwise directed by the Board. 

        (ii)   Administration With Respect to Consultants and Other Employees. With respect to grants of Awards to Employees or
Consultants who are neither Directors nor Officers of the Company, the Plan shall be administered by (A) the Board or (B) a Committee designated by the Board, which Committee shall be
constituted in such a manner as to satisfy the Applicable Laws. Once appointed, such Committee shall continue to serve in its designated capacity until otherwise directed by the Board. The Board may
authorize one or more Officers to grant such Awards and may limit such authority as the Board determines from time to time. 

        (iii)  Administration With Respect to Covered Employees. Notwithstanding the foregoing, grants of Awards to any Covered
Employee intended to qualify as Performance-Based Compensation shall be made only by a Committee (or subcommittee of a Committee) which is comprised solely of two or more Directors eligible to serve
on a committee making Awards qualifying as Performance-Based Compensation. In the case of such Awards granted to Covered Employees, references to the "Administrator" or to a "Committee" shall be
deemed to be references to such Committee or subcommittee. 

        (iv)  Administration Errors. In the event an Award is granted in a manner inconsistent with the provisions of this subsection
(a), such Award shall be presumptively valid as of its grant date to the extent permitted by the Applicable Laws. 

        (b)   Powers of the Administrator. Subject to Applicable Laws and the provisions of the Plan (including any other powers given
to the Administrator hereunder), and except as otherwise provided by the Board, the Administrator shall have the authority, in its discretion: 

        (i)    to
select the Employees, Directors and Consultants to whom Awards may be granted from time to time hereunder; 

        (ii)   to
determine whether and to what extent Awards are granted hereunder; 

        (iii)  to
determine the number of Shares or the amount of other consideration to be covered by each Award granted hereunder; 

        (iv)  to
approve forms of Award Agreements for use under the Plan; 

        (v)   to
determine the terms and conditions of any Award granted hereunder; 

        (vi)  to
amend the terms of any outstanding Award granted under the Plan, provided that (A) any amendment that would adversely affect the Grantee's rights under an
outstanding Award shall not be made without the Grantee's written consent, (B) the reduction of the exercise price of any Option awarded under the Plan shall be subject to stockholder approval
and (C) canceling an Option at a time when its exercise price exceeds the Fair Market Value of the underlying Shares, in exchange for another Option, Restricted Stock, or other Award shall be
subject to stockholder approval, unless the cancellation and exchange occurs in connection with a Corporate Transaction; 

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        (vii) to
construe and interpret the terms of the Plan and Awards, including without limitation, any notice of award or Award Agreement, granted pursuant to the Plan; 

        (viii)      to
grant Awards to Employees, Directors and Consultants employed outside the United States on such terms and conditions different from those specified
in the Plan as may, in the judgment of the Administrator, be necessary or desirable to further the purpose of the Plan; and 

        (ix)  to
take such other action, not inconsistent with the terms of the Plan, as the Administrator deems appropriate. 

        (c)   Indemnification. In addition to such other rights of indemnification as they may have as members of the Board or as
Officers or Employees of the Company or a Related Entity, members of the Board and any Officers or Employees of the Company or a Related Entity to whom authority to act for the Board, the
Administrator or the Company is delegated shall be defended and indemnified by the Company to the extent permitted by law on an after-tax basis against all reasonable expenses, including
attorneys' fees, actually and necessarily incurred in connection with the defense of any claim, investigation, action, suit or proceeding, or in connection with any appeal therein, to which they or
any of them may be a party by reason of any action taken or failure to act under or in connection with the Plan, or any Award granted hereunder, and against all amounts paid by them in settlement
thereof (provided such settlement is approved by the Company) or paid by them in satisfaction of a judgment in any such claim, investigation, action, suit or proceeding, except in relation to matters
as to which it shall be adjudged in such claim, investigation, action, suit or proceeding that such person is liable for gross negligence, bad faith or intentional misconduct; provided, however, that
within thirty (30) days after the institution of such claim, investigation, action, suit or proceeding, such person shall offer to the Company, in writing, the opportunity at the Company's
expense to defend the same. 

        5.    Eligibility.    Awards other than Incentive Stock Options may be granted to Employees, Directors and
Consultants. Incentive Stock Options may be granted only to Employees of the Company or a Parent or a Subsidiary of the Company. An Employee, Director or Consultant who has been granted an Award may,
if otherwise eligible, be granted additional Awards. Awards may be granted to such Employees, Directors or Consultants who are residing in non-U.S. jurisdictions as the Administrator may
determine from time to time. 

        6.    Terms and Conditions of Awards.    

        (a)   Types of Awards. The Administrator is authorized under the Plan to award any type of arrangement to an Employee, Director
or Consultant that is not inconsistent with the provisions of the Plan and that by its terms involves or might involve the issuance of (i) Shares, (ii) cash or (iii) an Option, a
SAR, or similar right with a fixed or variable price related to the Fair Market Value of the Shares and with an exercise or conversion privilege related to the passage of time, the occurrence of one
or more events, or the satisfaction of performance criteria or other conditions. Such awards include, without limitation, Options, SARs, sales or bonuses of Restricted Stock, Restricted Stock Units or
Dividend Equivalent Rights, and an Award may consist of one such security or benefit, or two (2) or more of them in any combination or alternative. 

        (b)   Designation of Award. Each Award shall be designated in the Award Agreement. In the case of an Option, the Option shall
be designated as either an Incentive Stock Option or a Non-Qualified Stock Option. However, notwithstanding such designation, to the extent that the aggregate Fair Market Value of Shares
subject to Options designated as Incentive Stock Options which become exercisable for the first time by a Grantee during any calendar year (under all plans of the Company or any Parent or Subsidiary
of the Company) exceeds $100,000, such excess Options, to the extent of the Shares covered thereby in excess of the foregoing limitation, shall be 

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treated
as Non-Qualified Stock Options. For this purpose, Incentive Stock Options shall be taken into account in the order in which they were granted, and the Fair Market Value of the
Shares shall be determined as of the grant date of the relevant Option. 

        (c)   Conditions of Award. Subject to the terms of the Plan, the Administrator shall determine the provisions, terms, and
conditions of each Award including, but not limited to, the Award vesting schedule, repurchase provisions, rights of first refusal, forfeiture provisions, form of payment (cash, Shares, or other
consideration) upon settlement of the Award, payment contingencies, and satisfaction of any performance criteria. The performance criteria established by the Administrator may be based on any one of,
or combination of, the following: (i) increase in share price, (ii) earnings per share, (iii) total stockholder return, (iv) operating margin, (v) gross margin,
(vi) return on equity, (vii) return on assets, (viii) return on investment, (ix) operating income, (x) net operating income, (xi) pre-tax profit,
(xii) cash flow, (xiii) revenue, (xiv) expenses, (xv) earnings before interest, taxes and depreciation, (xvi) economic value added, (xvii) market share,
(xviii) personal management
objectives, and (xix) other measures of performance selected by the Administrator. Partial achievement of the specified criteria may result in a payment or vesting corresponding to the degree
of achievement as specified in the Award Agreement. 

        (d)   Acquisitions and Other Transactions. The Administrator may issue Awards under the Plan in settlement, assumption or
substitution for, outstanding awards or obligations to grant future awards in connection with the Company or a Related Entity acquiring another entity, an interest in another entity or an additional
interest in a Related Entity whether by merger, stock purchase, asset purchase or other form of transaction. 

        (e)   Deferral of Award Payment. The Administrator may establish one or more programs under the Plan to permit selected
Grantees the opportunity to elect to defer receipt of consideration upon exercise of an Award, satisfaction of performance criteria, or other event that absent the election would entitle the Grantee
to payment or receipt of Shares or other consideration under an Award. The Administrator may establish the election procedures, the timing of such elections, the mechanisms for payments of, and
accrual of interest or other earnings, if any, on amounts, Shares or other consideration so deferred, and such other terms, conditions, rules and procedures that the Administrator deems advisable for
the administration of any such deferral program. 

        (f)    Separate Programs. The Administrator may establish one or more separate programs under the Plan for the purpose of
issuing particular forms of Awards to one or more classes of Grantees on such terms and conditions as determined by the Administrator from time to time. 

        (g)   Individual Limitations on Awards. 

        (i)    Individual Limit for Options and SARs. The maximum number of Shares with respect to which Options and SARs may be granted
to any Grantee in any calendar year shall be 2,000,000 Shares. In connection with a Grantee's commencement of Continuous Service, a Grantee may be granted Options or SARs for up to an additional
2,000,000 Shares which shall not count against the limit set forth in the previous sentence. The foregoing limitations shall be adjusted proportionately in connection with any change in the Company's
capitalization pursuant to Section 10, below. To the extent required by Section 162(m) of the Code or the regulations thereunder, in applying the foregoing limitations with respect to a
Grantee, if any Option or SAR is canceled, the canceled Option or SAR shall continue to count against the maximum number of Shares with respect to which Options and SARs may be granted to the Grantee.
For this purpose, the repricing of an Option (or in the case of a SAR, the base amount on which the stock appreciation is calculated is reduced to reflect a reduction in the Fair Market Value of the
Common Stock) shall be treated as the cancellation of the existing Option or SAR and the grant of a new Option or SAR. 

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        (ii)   Individual Limit for Restricted Stock and Restricted Stock Units. For awards of Restricted Stock and Restricted Stock
Units that are intended to be Performance-Based Compensation, the maximum number of Shares with respect to which such Awards may be granted to any Grantee in any calendar year shall be 2,000,000
Shares. The foregoing limitation shall be adjusted proportionately in connection with any change in the Company's capitalization pursuant to Section 10, below. 

        (iii)  Deferral. If the vesting or receipt of Shares under an Award is deferred to a later date, any amount (whether
denominated in Shares or cash) paid in addition to the original number of Shares subject to such Award will not be treated as an increase in the number of Shares subject to the Award if the additional
amount is based either on a reasonable rate of interest or on one or more predetermined actual investments such that the amount payable by the Company at the later date will be based on the actual
rate of return of a specific investment (including any decrease as well as any increase in the value of an investment). 

        (h)   Early Exercise. The Award Agreement may, but need not, include a provision whereby the Grantee may elect at any time
while an Employee, Director or Consultant to exercise any part or all of the Award prior to full vesting of the Award. Any unvested Shares received pursuant to such exercise may be subject to a
repurchase right in favor of the Company or a Related Entity or to any other restriction the Administrator determines to be appropriate. 

        (i)    Term of Award. The term of each Award shall be the term stated in the Award Agreement, provided, however, that the term
of an Incentive Stock Option shall be no more than ten (10) years from the date of grant thereof. However, in the case of an Incentive Stock Option granted to a Grantee who, at the time the
Option is granted, owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary of the Company, the term of the Incentive
Stock Option shall be five (5) years from the date of grant thereof or such shorter term as may be provided in the Award Agreement. Notwithstanding the foregoing, the specified term of any
Award shall not include any period for which the Grantee has elected to defer the receipt of the Shares or cash issuable pursuant to the Award. 

        (j)    Transferability of Awards. Incentive Stock Options may not be sold, pledged, assigned, hypothecated, transferred, or
disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Grantee, only by the Grantee. Other Awards shall be transferable
(i) by will and by the laws of descent and distribution and (ii) during the lifetime of the Grantee, to the extent and in the manner authorized by the Administrator. Notwithstanding the
foregoing, the Grantee may designate one or more beneficiaries of the Grantee's Award in the event of the Grantee's death on a beneficiary designation form provided by the Administrator. 

        (k)   Time of Granting Awards. The date of grant of an Award shall for all purposes be the date on which the Administrator
makes the determination to grant such Award, or such other date as is determined by the Administrator. 

        7.    Award Exercise or Purchase Price, Consideration and Taxes.    

        (a)   Exercise or Purchase Price. The exercise or purchase price, if any, for an Award shall be as follows: 

        (i)    In
the case of an Incentive Stock Option: 

        (A)  granted
to an Employee who, at the time of the grant of such Incentive Stock Option owns stock representing more than ten percent (10%) of the voting power of all
classes of stock of the Company or any Parent or Subsidiary of the Company, the per 

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Share
exercise price shall be not less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant; or 

        (B)  granted
to any Employee other than an Employee described in the preceding paragraph, the per Share exercise price shall be not less than one hundred percent (100%) of
the Fair Market Value per Share on the date of grant. 

        (ii)   In
the case of Options or SARs intended to qualify as Performance-Based Compensation, the exercise or base appreciation amount shall be not less than one hundred
percent (100%) of the Fair Market Value per Share on the date of grant. 

        (iii)  In
the case of other Awards, such price as is determined by the Administrator. 

        (iv)  Notwithstanding
the foregoing provisions of this Section 7(a), in the case of an Award issued pursuant to Section 6(d), above, the exercise or purchase
price for the Award shall be determined in accordance with the provisions of the relevant instrument evidencing the agreement to issue such Award. 

        (b)   Consideration. Subject to Applicable Laws, the consideration to be paid for the Shares to be issued upon exercise or
purchase of an Award including the method of payment, shall be determined by the Administrator (and, in the case of an Incentive Stock Option, shall be determined at the time of grant). In addition to
any other types of consideration the Administrator may determine, the Administrator is authorized to accept as consideration for Shares issued under the Plan the following, provided that the
portion of the consideration equal to the par value of the Shares must be paid in cash or other legal consideration permitted by the Delaware General Corporation Law: 

        (i)    cash; 

        (ii)   check; 

        (iii)  if
the exercise or purchase occurs on or after the Registration Date, surrender of Shares or delivery of a properly executed form of attestation of ownership of Shares
as the Administrator may require which have a Fair Market Value on the date of surrender or attestation equal to the aggregate exercise price of the Shares as to which said Award shall be exercised,
provided, however, that Shares acquired under the Plan or any other equity compensation plan or agreement of the Company must have been held by the Grantee for a period of more than six
(6) months (and not used for another Award exercise by attestation during such period); 

        (iv)  with
respect to Options, if the exercise occurs on or after the Registration Date, payment through a broker-dealer sale and remittance procedure pursuant to which the
Grantee (A) shall provide written instructions to a Company designated brokerage firm to effect the immediate sale of some or all of the purchased Shares and remit to the Company sufficient
funds to cover the aggregate exercise price payable for the purchased Shares and (B) shall provide written directives to the Company to deliver the certificates for the purchased Shares
directly to such brokerage firm in order to complete the sale transaction; or 

        (v)   any
combination of the foregoing methods of payment. 

The
Administrator may at any time or from time to time, by adoption of or by amendment to the standard forms of Award Agreement described in Section 4(b)(iv), or by other means, grant Awards
which do not permit all of the foregoing forms of consideration to be used in payment for the Shares or which otherwise restrict one or more forms of consideration. 

        (c)   Taxes. No Shares shall be delivered under the Plan to any Grantee or other person until such Grantee or other person has
made arrangements acceptable to the Administrator for the 

10

 

satisfaction
of any non-U.S., federal, state, or local income and employment tax withholding obligations, including, without limitation, obligations incident to the receipt of Shares or
the disqualifying disposition of Shares received on exercise of an Incentive Stock Option. Upon exercise of an Award the Company shall withhold or collect from Grantee an amount sufficient to satisfy
such tax obligations. 

        8.    Exercise of Award.    

        (a)   Procedure for Exercise; Rights as a Stockholder. 

        (i)    Any
Award granted hereunder shall be exercisable at such times and under such conditions as determined by the Administrator under the terms of the Plan and specified in
the Award Agreement. 

        (ii)   An
Award shall be deemed to be exercised when written notice of such exercise has been given to the Company in accordance with the terms of the Award by the person
entitled to exercise the Award and full payment for the Shares with respect to which the Award is exercised, including, to the extent selected, use of the broker-dealer sale and remittance procedure
to pay the purchase price as provided in Section 7(b)(iv). 

        (b)   Exercise of Award Following Termination of Continuous Service. 

        (i)    An
Award may not be exercised after the termination date of such Award set forth in the Award Agreement and may be exercised following the termination of a Grantee's
Continuous Service only to the extent provided in the Award Agreement. 

        (ii)   Where
the Award Agreement permits a Grantee to exercise an Award following the termination of the Grantee's Continuous Service for a specified period, the Award shall
terminate to the extent not exercised on the last day of the specified period or the last day of the original term of the Award, whichever occurs first. 

        (iii)  Any
Award designated as an Incentive Stock Option to the extent not exercised within the time permitted by law for the exercise of Incentive Stock Options following
the termination of a Grantee's
Continuous Service shall convert automatically to a Non-Qualified Stock Option and thereafter shall be exercisable as such to the extent exercisable by its terms for the period specified
in the Award Agreement. 

        9.    Conditions Upon Issuance of Shares.    

        (a)   Shares
shall not be issued pursuant to the exercise of an Award unless the exercise of such Award and the issuance and delivery of such Shares pursuant thereto shall
comply with all Applicable Laws, and shall be further subject to the approval of counsel for the Company with respect to such compliance. 

        (b)   As
a condition to the exercise of an Award, the Company may require the person exercising such Award to represent and warrant at the time of any such exercise that the
Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is required by
any Applicable Laws. 

        10.    Adjustments Upon Changes in Capitalization.    Subject to any required action by the stockholders of the
Company, the number of Shares covered by each outstanding Award, and the number of Shares which have been authorized for issuance under the Plan but as to which no Awards have yet been granted or
which have been returned to the Plan, the exercise or purchase price of each such outstanding Award, the maximum number of Shares with respect to which Awards may be granted to any Grantee in any
calendar year, as well as any other terms that the Administrator determines require adjustment shall be proportionately adjusted for (i) any increase or decrease in the number of 

11

 

issued
Shares resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the Shares, or similar transaction affecting the Shares, (ii) any other
increase or decrease in the number of issued Shares effected without receipt of consideration by the Company, or (iii) as the Administrator may determine in its discretion, any other
transaction with respect to Common Stock including a corporate merger, consolidation, acquisition of property or stock, separation (including a spin-off or other distribution of stock or
property), reorganization, liquidation (whether partial or complete) or any similar transaction; provided, however that conversion of any convertible securities of the Company shall not be deemed to
have been "effected without receipt of consideration." Such adjustment shall be made by the Administrator and its determination shall be final, binding and conclusive. Except as the Administrator
determines, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason hereof shall be made with
respect to, the number or price of Shares subject to an Award. 

        11.    Corporate Transactions and Changes in Control.    

        (a)   Termination of Award to Extent Not Assumed in Corporate Transaction. Effective upon the consummation of a Corporate
Transaction, all outstanding Awards under the Plan shall terminate. However, all such Awards shall not terminate to the extent they are Assumed in connection with the Corporate Transaction. 

        (b)   Acceleration of Award Upon Corporate Transaction or Change in Control. The Administrator shall have the authority,
exercisable either in advance of any actual or anticipated Corporate Transaction or Change in Control or at the time of an actual Corporate Transaction or Change in Control and exercisable at the time
of the grant of an Award under the Plan or any time while an Award remains outstanding, to provide for the full or partial automatic vesting and exercisability of one or more outstanding unvested
Awards under the Plan and the release from restrictions on transfer and repurchase or forfeiture rights of such Awards in connection with a Corporate Transaction or Change in Control, on such terms
and conditions as the Administrator may specify. The Administrator also shall have the authority to condition any such Award vesting and exercisability or release from such limitations upon the
subsequent termination of the Continuous Service of the Grantee within a specified period following the effective date of the Corporate Transaction or Change in Control. The Administrator may provide
that any Awards so vested or released from such limitations in connection with a Change in Control, shall remain fully exercisable until the expiration or sooner termination of the Award. 

        (c)   Effect of Acceleration on Incentive Stock Options. Any Incentive Stock Option accelerated under this Section 11 in
connection with a Corporate Transaction or Change in Control shall remain exercisable as an Incentive Stock Option under the Code only to the extent the $100,000 dollar limitation of
Section 422(d) of the Code is not exceeded. To the extent such dollar limitation is exceeded, the excess Options shall be treated as Non-Qualified Stock Options. 

        12.    Effective Date and Term of Plan.    The Plan shall become effective upon its approval by the stockholders of
the Company. It shall continue in effect for a term of ten (10) years unless sooner terminated. Subject to Applicable Laws, Awards may be granted under the Plan upon its becoming effective. 

        13.    Amendment, Suspension or Termination of the Plan.    

        (a)   The
Board may at any time amend, suspend or terminate the Plan; provided, however, that no such amendment shall be made without the approval of the Company's
stockholders to the extent such approval is required by Applicable Laws, or if such amendment would change any of the provisions of Section 4(b)(vi) or this Section 13(a). 

12

 

        (b)   No
Award may be granted during any suspension of the Plan or after termination of the Plan. 

        (c)   No
suspension or termination of the Plan (including termination of the Plan under Section 11(b), above) shall adversely affect any rights under Awards already
granted to a Grantee. 

        14.    Reservation of Shares.    

        (a)   The
Company, during the term of the Plan, will at all times reserve and keep available such number of Shares as shall be sufficient to satisfy the requirements of the
Plan. 

        (b)   The
inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company's counsel to be necessary to the
lawful issuance and sale of any Shares hereunder, 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. 

        15.    No Effect on Terms of Employment/Consulting Relationship.    The Plan shall not confer upon any Grantee any
right with respect to the Grantee's Continuous Service, nor shall it interfere in any way with his or her right or the right of the Company or any Related Entity to terminate the Grantee's Continuous
Service at any time, with or without Cause, and with or without notice. The ability of the Company or any Related Entity to terminate the employment of a Grantee who is employed at will is in no way
affected by its determination that the Grantee's Continuous Service has been terminated for Cause for the purposes of this Plan. 

        16.    No Effect on Retirement and Other Benefit Plans.    Except as specifically provided in a retirement or other
benefit plan of the Company or a Related Entity, Awards shall not be deemed compensation for purposes of computing benefits or contributions under any retirement plan of the Company or a Related
Entity, and shall not affect any benefits under any other benefit plan of any kind or any benefit plan subsequently instituted under which the availability or amount of benefits is related to level of
compensation. The Plan is not a "Retirement Plan" or "Welfare Plan" under the Employee Retirement Income Security Act of 1974, as amended. 

        17.    Unfunded Obligation.    Grantees shall have the status of general unsecured creditors of the Company. Any
amounts payable to Grantees pursuant to the Plan shall be unfunded and unsecured obligations for all purposes, including, without limitation, Title I of the Employee Retirement Income Security Act of
1974, as amended. Neither the Company nor any Related Entity shall be required to segregate any monies from its general funds, or to create any trusts, or establish any special accounts with respect
to such obligations. The Company shall retain at all times beneficial ownership of any investments, including trust investments, which the Company may make to fulfill its payment obligations
hereunder.
Any investments or the creation or maintenance of any trust or any Grantee account shall not create or constitute a trust or fiduciary relationship between the Administrator, the Company or any
Related Entity and a Grantee, or otherwise create any vested or beneficial interest in any Grantee or the Grantee's creditors in any assets of the Company or a Related Entity. The Grantees shall have
no claim against the Company or any Related Entity for any changes in the value of any assets that may be invested or reinvested by the Company with respect to the Plan. 

        18.    Construction.    Captions and titles contained herein are for convenience only and shall not affect the meaning
or interpretation of any provision of the Plan. 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. 

        19.    Plan History.    The Plan was adopted by the Board in April 2004 and approved by the stockholders of the
Company in May 2004. On June 28, 2004, the Company executed a one-for-three reverse stock split of the Shares and on April 4, 2006, the Company executed a
one-for-ten reverse 

13

 

stock
split of the Shares. After giving effect to these stock splits, the 2,400,000 Shares that were originally authorized for issuance under the Plan became 80,000 Shares. In October 2007, the
Board approved an amendment and restatement of the Plan to increase (i) the maximum number of Shares that may be issued under the Plan from 80,000 Shares to 2,080,000 Shares, including the
number of Shares subject to the automatic annual formula increase (as set forth in Section 3(a) herein) from 100,000 Shares to 1,500,000 Shares; (ii) the maximum number of Shares subject
to Options and SARs that may be granted pursuant to Section 6(g)(i) herein from 33,333 Shares to 2,000,000 Shares; and (iii) the maximum number of Shares subject to awards of
Restricted Stock and Restricted Stock Units that may granted pursuant to Section 6(g)(ii) from 33,333 Shares to 2,000,000 Shares. These amendments to the Plan are subject to the approval
of the Company's stockholders. 

14

QuickLinks

Exhibit 10.116

CRDENTIA CORP. 2004 STOCK INCENTIVE PLAN (as Amended and Restated October , 2007)QuickLinks
 -- Click here to rapidly navigate through this document

 

 
 

Exhibit 10.10    
    

execution copy  

  
 

    STOCK ESCROW AGREEMENT    
    

        This STOCK ESCROW AGREEMENT, dated as of August 3, 2007 (the "Escrow Agreement") is
entered into by and among Healthcare Acquisition Corp., a Delaware corporation ("Parent"), MPM BioVentures III-QP, LP, as the
stockholders' representative, being the representative of the former securityholders of PharmAthene, Inc., a Delaware corporation (the "Stockholders'
Representative"), John Pappajohn being the representative of Parent ("Parent Representative") and Continental Stock Transfer & Trust Company (the
"Escrow Agent"). 

        WHEREAS, Parent has entered into an agreement and plan of merger (the "Merger Agreement"),
dated as of January 19, 2007, with PharmAthene, Inc. ("PAI"), pursuant to which, as of the date hereof, Parent is merging its wholly-owned
subsidiary into PAI as a result of which PAI will be the surviving corporation; and 

        WHEREAS, pursuant to Article VIII of the Merger Agreement, the stockholders and holders of options and warrants of PAI
(collectively, the "Stockholders") have agreed, in order to secure certain indemnification obligations
under the Merger Agreement, to deposit into escrow (the "Escrow Fund") an aggregate of 1,375,000 shares of common stock of Parent (collectively, the
"Escrow Shares") which they have received or have the right to receive pursuant to the terms of the Merger Agreement in the respective amounts set forth
opposite their names on Exhibit A attached hereto, which Escrow Shares shall be the sole and exclusive source for payment of any indemnification obligations contained in the Merger Agreement;
and 

        WHEREAS, the Stockholders have appointed the Stockholders' Representative as their attorney-in-fact and authorized
and empowered it to act for and on behalf of the Stockholders (with full power of substitution) in connection with responding to the assertion of any and all claims for indemnification by Parent
pursuant to this Escrow Agreement and the Merger Agreement; 

        WHEREAS, Parent has appointed the Parent Representative as its attorney-in- fact and authorized and empowered it
to act for and on behalf of Parent (with full power of substitution) in connection with responding to the assertion of any and all claims for indemnification Parent pursuant to this Escrow Agreement
and the Merger Agreement; and 

        WHEREAS, Parent and the Stockholders' Representative desire that the Escrow Agent establish the Escrow Fund and accept the Escrow Shares,
in escrow, to be held and disbursed as hereinafter provided; 

        Capitalized terms used and not otherwise defined herein shall have the meanings given such terms in the Merger Agreement. 

        NOW THEREFORE, IT IS AGREED, in consideration of the covenants, promises and representations set forth herein, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 

        1.    Appointment of Escrow Agent.    Parent, Parent Representative and the Stockholders' Representative hereby
designate and appoint the Escrow Agent as escrow agent to establish the Escrow Fund and receive, hold and disburse the Escrow Shares and otherwise act in accordance with and subject to the terms of
this Escrow Agreement and the Merger Agreement and the Escrow Agent hereby accepts such appointment and agrees to act in accordance with and subject to such terms. The Escrow Agent shall treat the
Escrow Fund as a trust fund and not as the property of Parent. Its duties hereunder shall cease upon its distribution of the entire Escrow Fund in accordance with this Escrow Agreement. 

        2.    Deposit of Escrow Shares.    Parent has with the execution of this Escrow Agreement delivered to its transfer
agent instructions to deliver to the Escrow Agent certificates representing the Escrow Shares in the amounts and made out to the Stockholders (and with respect to certain shares attributable to
Company option and Company warrants, to Parent) set forth on Exhibit A, to be held and disbursed subject to the terms and conditions of this Escrow Agreement. The Stockholders' Representative
acknowledges, on behalf of each of the Stockholders, that the certificate representing his, her or its Escrow Shares will bear a legend to reflect the deposit of such Escrow Shares under this Escrow
Agreement, it being agreed that such legend shall be removed upon the disbursement of the Escrow Shares, as described in Section 3 below. 

        3.    Disbursement of the Escrow Shares.    

        3.1    Duration of Escrow; Release of Escrow Shares.    Subject to the terms and conditions of this Escrow Agreement,
the Escrow Agent shall hold the Escrow Shares in the Escrow Fund for a period of twelve months (the "Escrow Period"), and shall disburse the Escrow
Shares at the times and subject to the conditions and notices set forth in and required by this Escrow Agreement and the Merger Agreement. Upon the expiration of the Escrow Period, the Escrow Agent
shall release the remainder of the Escrow Shares, if any, less the number of Escrow Shares with a Fair Market Value equal to the amount of any Adverse Consequences set forth in any Indemnification
Notice from the Company with respect to any pending but unresolved claim for indemnification which release shall be allocated among the Stockholders (with certain shares reverting to Parent to be
reserved for issuance upon exercise of any Company Options and Company Warrants) in accordance with Exhibit A. The Escrow Agent shall have no further duties hereunder after the disbursement of
the Escrow Shares in accordance with this Section 3. 

        3.2    Disbursements under Escrow Fund.    All disbursements under this Escrow Agreement shall be made upon either a
certificate to the Escrow Agent signed by both Parent Representative and the Stockholders' Representative or a final determination of an arbitrator in connection with any dispute between Parent and
the Stockholders' Representative regarding disbursement under this Escrow Agreement as provided under Section 8.6(d) of the Merger Agreement. Any certificate of the parties regarding
disbursement shall indicate the number of Escrow Shares to be disbursed to Parent and how many shares are to be deducted from each Stockholder's holdings, if any. 

        3.3    Stockholder Option to Replace Escrow Shares with Cash.    At the time of any proposed disbursement to Parent of
Escrow Shares hereunder, each Stockholder shall have the option of replacing the Escrow Shares to be disbursed to Parent with a cash payment based upon the value of the Escrow Shares to be disbursed.
In the event that any Stockholder exercises such option and makes cash payment directly to Parent in lieu of Escrow Shares, the certificate issued to the Escrow Agent shall direct, in addition to how
many Escrow Shares are to be disbursed to Parent, the number of Escrow Shares to be disbursed to the Stockholder(s) who exercises such option. 

        4.    Rights of Stockholders in Escrow Shares.    

        4.1    Voting Rights as a Stockholder.    The Stockholders shall retain all of their rights as stockholders, option
holders and warrant holders of Parent, as the case may be, during the Escrow Period, including, without limitation, the right to vote their respective Escrow Shares, as applicable. The Escrow Agent
shall from time to time deliver to the Stockholders such proxies, consent or other documents as may be necessary, as applicable, to enable such Stockholders to exercise such rights. 

        4.2    Dividends and Other Distributions in Respect of the Escrow Shares.    During the Escrow Period, all dividends
payable in cash with respect to the Escrow Shares shall be paid to the Stockholders. In the event that Parent issues any additional shares of Parent Common Stock to the Stockholders for any reason,
including as dividends payable in Parent Common Stock with respect to the Escrow Shares, such additional shares of Parent Common Stock shall be issued in the name of such Stockholders, as applicable,
and shall not be subject to escrow. 

        4.3    Restrictions on Transfer.    During the Escrow Period, no sale, transfer or other disposition may be made of
any of the Escrow Shares. During the Escrow Period, the Stockholders shall not pledge or grant a security interest in the Escrow Shares or grant a security interest in their rights under this Escrow
Agreement. 

        5.    Concerning the Escrow Agent.    

        5.1    Good Faith Reliance.    The Escrow Agent shall not be liable for any action taken or omitted by it in good
faith and in the exercise of its own best judgment, and may rely conclusively, and shall be protected in acting upon, any order, notice, demand, certificate, opinion or advice of counsel (including
counsel chosen by the Escrow Agent), statement, instrument, report or other paper or document (not only as to its due execution and the validity and effectiveness of its provisions, but also as to the
truth and acceptability of any information therein contained), which is reasonably believed by the Escrow Agent to be genuine and to be signed or presented by the proper person or persons. The Escrow
Agent shall not be bound by any notice or demand, or any waiver, modification, termination or rescission of this Escrow Agreement, unless evidenced by a writing delivered to the Escrow Agent signed by
the proper party or parties and, if the duties or rights of the Escrow Agent are affected, unless the Escrow Agent shall have given its prior written consent thereto. 

        5.2    Indemnification.    The Escrow Agent shall be indemnified and held harmless by Parent from and against any
expenses, including attorneys' fees and expenses, or loss suffered by the Escrow Agent in connection with any action, suit or other proceeding involving any claim, which in any way, directly or
indirectly, arises out of or relates to this Escrow Agreement, the services of the Escrow Agent hereunder, or the Escrow Shares held by it hereunder, other than expenses or losses arising from the
gross negligence or willful misconduct of the Escrow Agent. 

Promptly
after the receipt by the Escrow Agent of notice of any demand or claim or the commencement of any action, suit or proceeding, the Escrow Agent shall notify the other parties hereto in
writing. In the event of the receipt of such notice, the Escrow Agent, in its sole discretion, may commence an action in the nature of interpleader in an appropriate court to determine ownership or
disposition of the Escrow Shares or it may deposit the Escrow Shares with the clerk of any appropriate court or it may retain the Escrow Shares pending receipt of a final, non-appealable
order of a court having jurisdiction over all of the parties hereto directing to whom and under what circumstances the Escrow Shares are to be disbursed and delivered. The provisions of this
Section 5.2 shall survive in the event the Escrow Agent resigns or is discharged pursuant to Sections 5.5 or 5.6 below. 

        5.3    Compensation.    The Escrow Agent shall be entitled to reasonable compensation from Parent for all services
rendered by it hereunder, as set forth on Exhibit B hereto. The Escrow Agent shall also be entitled to reimbursement from Parent for all reasonable expenses paid or incurred by it in the
administration of its duties hereunder including, but not limited to, all attorneys', advisors' and agents' fees and expenses and all taxes or other governmental charges. 

        5.4    Further Assurances.    From time to time on and after the date hereof, Parent and the Stockholders'
Representative shall deliver or cause to be delivered to the Escrow Agent such further documents and instruments and shall do or cause to be done such further acts as the Escrow Agent shall reasonably
request to carry out more effectively the provisions and purposes of this Escrow Agreement, to evidence compliance herewith or to assure itself that it is protected in acting hereunder. 

        5.5    Resignation.    The Escrow Agent may resign at any time and be discharged from its duties as escrow agent
hereunder by its giving the other parties hereto written notice and such resignation shall become effective as hereinafter provided. Such resignation shall become effective at such time that the
Escrow Agent shall turn over to a successor escrow agent mutually appointed by Parent Representative and the Stockholders' Representative, the Escrow Shares held hereunder. If no new escrow agent is
so appointed within the 60 day period following the giving of such notice of resignation, the Escrow Agent may deposit the Escrow Shares with any court it deems appropriate. 

        5.6    Discharge of Escrow Agent.    The Escrow Agent shall resign and be discharged from its duties as escrow agent
hereunder if so requested in writing at any time by the other parties hereto, jointly, provided, however, that such resignation shall become effective only upon acceptance of appointment by a
successor escrow agent as provided in Section 5.5 hereof. 

        5.7    Liability.    Notwithstanding anything herein to the contrary, the Escrow Agent shall not be relieved from
liability hereunder for its own gross negligence or its own willful misconduct. 

        6.    Miscellaneous.    

        6.1    Governing Law.    This Escrow Agreement shall for all purposes be deemed to be made under and shall be
construed in accordance with the laws of the State of Delaware. Each of the parties hereby agrees that any action, proceeding or claim against it arising out of or relating in any way to this Escrow
Agreement shall be brought and enforced in the courts of the State of Delaware, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. Each of the parties hereby waives
any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. 

        6.2    Entire Agreement.    This Escrow Agreement contains the entire agreement of the parties hereto with respect to
the subject matter hereof and, except as expressly provided herein, may not be changed or modified except by an instrument in writing signed by the party to the charged. 

        6.3    Headings.    The headings contained in this Escrow Agreement are for reference purposes only and shall not
affect in any way the meaning or interpretation thereof. 

        6.4    Binding Effect.    This Escrow Agreement shall be binding upon and inure to the benefit of the respective
parties hereto and their legal representatives, successors and assigns. 

        6.5    Notices.    Any notice or other communication required or which may be given hereunder shall be in writing and
either be delivered personally or by private national courier service, or be mailed, certified or registered mail, return receipt requested, postage prepaid, and shall be deemed given when so
delivered personally or, if sent by private national courier service, on the next business day after delivery to the courier, or, if mailed, two business days after the date of mailing, as follows: 

If
to Parent or Parent Representative, to: 

Healthcare
Acquisition Corp. 

666
Walnut Street, Suite 2116

Des Moines, Iowa 50309

Attn: Matthew P. Kinley

Phone: (515) 244-5746

Fax: (515) 244-2346 

With
a copy to: 

Ellenoff
Grossman & Schole LLP

370 Lexington Ave.

New York, New York 10017

Attn: Barry I. Grossman, Esq.

Phone: (212) 370-1300

Fax: (212) 370-7889 

If
to a Stockholder, to the Stockholders' Representative as follows: 

MPM
BioVentures III- QP, LP

MPM Capital

The John Hancock Tower

200 Clarendon Street, 54th floor

Boston, Massachusetts 02116

Attn: Steven St. Peter

Phone: (617) 425-9235

Fax: (617) 425-9201 

With
a copy to: 

Edwards
Angell Palmer & Dodge LLP

111 Huntington Avenue

Boston, Massachusetts 02116

Attn: James T. Barrett, Esq.

Phone: (617)239-0385

Fax: (617) 227-4420

and
if to the Escrow Agent, to: 

Continental
Stock Transfer & Trust Company

17 Battery Place

New York, New York 10004

Attn:

Phone: (212) 509-4000

Fax: (212) 509-5150

A
copy of any notice sent hereunder shall be sent to: 

PharmAthene, Inc.

175 Admiral Cochrane Drive, Suite #101 Annapolis, MD 21401

Attn: David P. Wright

President & Chief Executive Officer

Phone: (410) 571-8920

Fax: (410) 571-8927

with
a copy to 

McCarter &
English, LLP

Four Gateway Center

100 Mulberry Street

Newark, New Jersey 07102

Attn: Jeffrey A. Baumel, Esq.

Phone: (973) 639-5904

Fax: (973) 297-3814 

        The
parties may change the persons and addresses to which the notices or other communications are to be sent by giving written notice to any such change in the manner provided herein for
giving notice. 

        6.6    Counterparts.    This Escrow Agreement may be executed in several counterparts each one of which shall
constitute an original and may be delivered by facsimile transmission and together shall constitute one instrument. 

        [Signature
Page Follows] 

        WITNESS
the execution of this Escrow Agreement as of the date first above written. 

	 	 	HEALTHCARE ACQUISITION CORP.
 
	

 	
 	

By:	

/s/  MATTHEW KINLEY      
 Name: Matthew Kinley

Title: President
	

 	
 	
MPM BIOVENTURES III—QP, LP, as Stockholders' Representative
	

 	
 	

By:	

/s/  ANSBERT GADICKE      
 Name: Ansbert Gadicke

Title: Series A Member
	

 	
 	
CONTINENTAL STOCK TRANSFER & TRUST COMPANY,

as Escrow Agent
	

 	
 	

By:	

/s/  STEVEN NELSON      
 Name: Steven Nelson

Title: Chairman
	

 	
 	

/s/  JOHN PAPPAJOHN      
 John Pappajohn, as Parent Representative

QuickLinks

Exhibit 10.10

STOCK ESCROW AGREEMENT

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