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Key Employee Incentive Stock Option Plan dated June 11, 1993

 EXHIBIT 10.7 
 ANALOGIC CORPORATION 
 KEY EMPLOYEE 
 INCENTIVE STOCK OPTION PLAN 
 JUNE 11,
1993 
 AS AMENDED OCTOBER 12, 2000 AND 
 SEPTEMBER 20, 2006 
 1. Purpose. The purpose of this Plan (the “Plan”) is to further
the growth and development of Analogic Corporation and any subsidiary corporations, as hereinafter defined (referred to, unless the context otherwise requires, as the “Company”), by granting to certain officers, directors, and key
employees of the Company and any subsidiary corporations, as an incentive and encouragement to stock ownership, options to purchase shares of Common Stock of the Company and thereby obtain a proprietary interest in the enterprise and a more direct
stake in its continuing welfare. 
 2. Administration. The Plan shall be administered by a Stock Plan Committee (the
“Committee”) appointed by the Board of Directors of the Company. The Committee shall serve at the pleasure of the Board and shall consist of the Chairman of the Board and not less than two additional directors, each of whom shall be
ineligible to participate in the Plan and shall not have received during the one year prior to service as a member of the Committee a discretionary grant or award of equity securities pursuant to the Plan or any other plan of the Company or any of
its affiliates. The Committee may, from time to time, interpret the Plan and options granted pursuant thereto, and may make, and amend, such regulations concerning the same as it may deem appropriate. 
 3. Grant of Options. The Committee may grant options within the limits of the Plan only in accordance with the recommendations of the Committee
with respect to the identity of the employees to receive options, the times when they shall receive them (subject to the limits hereinafter set forth), the number of shares to be subject to each option, the dates upon which options granted may be
exercised, and other terms of the options to be granted (which terms need not be identical) to the extent not inconsistent with the provisions of Section 422 of the Internal Revenue Code (the “Code”) and the Plan. Options for the
purchase of no more than 20,000 shares may be granted to any one Participant cumulatively under the Plan. 
 Notwithstanding any provision
hereof to the contrary, the aggregate fair market value of stock with respect to which incentive stock options (determined without regard to Section 422(d) of the Code) are exercisable for the first time by any Participant during any calendar
year shall not exceed $100,000. For purposes of the preceding sentence, the fair market value of any stock shall be determined as of the time the option with respect to such stock is granted; and application of said $100,000 limitation shall be made
taking options into account in the order in which they were granted. 
 4. Shares Subject to the Plan. The shares to be optioned may
be authorized and unissued shares of Common Stock of the Company, of the par value of $.05 each, or treasury shares, as the Committee may determine, not exceeding in the aggregate 500,000 shares of Common Stock; provided however, that no options may
be granted under the Plan if the aggregate number of shares subject to (i) options then outstanding under the Plan, (ii) other options granted by the Company and then outstanding, and (iii) the options proposed to be granted under the
Plan, would exceed an amount equal to 10% of the then issued and outstanding shares of Common Stock of the Company (excluding treasury shares). All shares subject to options that shall have terminated for any reason (other than by surrender for
cancellation upon any exercise of all or part of such options) will be available for subsequent optioning. 

 5. Participants. All officers, directors, and key employees of the Company and its wholly-owned
subsidiary corporations other than the Chairman of the Board and the Vice ~Chairman of the Board shall be eligible to receive options and thereby become Participants in the Plan. No officer or director who is not also a key employee shall be
eligible to participate, nor shall any person owning 10% or more of the Common Stock be to receive options and thereby become Participants in the Plan. No officer or director who is not also a key employee shall be eligible to participate, nor shall
any person owning 10% or more of the Common Stock be eligible. In granting options, the Committee may include or exclude previous Participants in the Plan and/or in any of the Company’s other stock option plans. 
 6. Option Price. The price at which shares may from time to time be optioned shall be not less than the fair market value at the time the option
is granted. The fair market value shall be determined in good faith by the Committee at each time that such options are granted by it. 
 7.
Option Period. Subject to Section 15, the period for exercising an option (the “Exercise Period”) shall be the period beginning two years and ending seven years from the date the option is granted, except that: 
 1. If an option shall have been granted in connection with the termination of a previously granted option under the Plan, the Exercise
Period of such subsequently granted option shall be the period beginning the day after the expiration of the option period applicable to the said previously granted option and ending seven years from the date such subsequently granted option is
granted. 
 2. If a replacement option is granted to a previous Participant under the Plan, unless otherwise determined by the
Committee at the time of grant, the Exercise Period shall commence two years after the date of the grant being replaced under the Plan. 
 3. If a Participant retires during the Exercise Period, such option shall be exercisable by him only during the three months following his retirement, but in no event after the expiration of the Exercise Period.

 4. If a Participant dies during the Exercise Period, such option shall be exercisable by the executors, administrators,
legatees or distributees of his estate only during the six months following the appointment of a fiduciary of his or her estate, but in no event after the expiration of the Exercise Period. 
 5. If a Participant ceases to be an employee of the Company for any cause other than retirement or death, such option shall terminate as
of the date of the cessation of his employment. 
 6. The Committee may at the time of grant of any option designate a
different Exercise Period for such option. 
 8. Exercise of Option. Subject to Sections 7, 14 and 15, options granted under the Plan
may be exercised at any time and from time to time during the Exercise Period except that each option granted under the Plan may be exercised commencing: 
  

	 	•	 	two years from the date of that grant under the Plan only to the extent of 25% of the total number of option shares granted to the Participant under that grant;

  

	 	•	 	three years from the date of that grant under the Plan only to the extent of 50% of the total number of option shares granted to the Participant under that grant;

  

	 	•	 	four years from the date of that grant under the Plan only to the extent of 75% of the total number of option shares granted to the Participant under that grant; and

  

	 	•	 	five and subsequent years from the date of that grant under the Plan, the Participant may exercise all unexercised options granted under that grant. 

 Notwithstanding the foregoing provisions of this Section 8, the Committee may at the time of grant of any option designate a different schedule upon
which such option shall become exercisable and may at any time determine that one or more then outstanding options shall become exercisable (in whole or in such part as may be specified in the Committee vote) more quickly than such option(s) would
become exercisable under the schedule otherwise applicable thereto. 
  

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 The foregoing exercise schedule is subject always to the provisions of Section 11 of the Plan and to
the condition that any unexercised option shall expire seven years from the date of grant of that option. 
 If one of the events referred to
in Section 7(c) or 7(d) occurs, the option shall be exercisable, subject to Section 15, under this Section during the three months following retirement, or during the six month period following the appointment of a fiduciary of the estate
of a deceased employee, as the case may be, only as to the number of shares, if any, as to which it was exercisable immediately prior to said retirement or death. 
 9. Payment for Shares. Full payment for shares purchased, together with the amount of any tax or excise due in respect of the sale and issue thereof, shall be made (i) in cash (ii) by delivering
shares of stock, or (iii) by any combination of cash and such stock, as the Participant may determine at the time of the exercise of the option in whole or in part. The Company will issue no certificates for shares until full payment therefor
has been made, and a Participant shall have none of the rights of a stockholder until certificates for the shares purchased are issued to him. 
 10. Nonassignability. Each option by its terms shall not be transferable otherwise than by will or the laws of descent and distribution, and shall be exercisable, during a Participant’s lifetime, only by him. 
 11. Conditions to Exercise of Options. The Committee may, in its discretion, require as conditions to the exercise of options and the issuance of
shares thereunder (a) that a registration statement under the Securities Act of 1933, as amended, with respect to the shares to be issued on the exercise of the options, containing such current information as is required by the Rules and
Regulations under said Act, shall have become, and continue to be, effective, or (b) that the Participant (i) shall have represented, warranted and agreed, in form and substance satisfactory to the Company, both that he is acquiring the
option and, at the time of exercising the option, that he is acquiring the shares for his own account, for investment or not with a view to or in connection with any distribution, (ii) shall have agreed to restrictions on transfer, in form and
substance satisfactory to the Company, and (iii) shall have agreed to an endorsement which makes appropriate reference to such representations, warranties, agreements and restrictions both on the option and on the certificate representing the
shares. 
 12. Conditions to Effectiveness of the Plan. The Plan was adopted by the Board of Directors on June 11, 1993 and was
approved by the stockholders of the Company on January 24, 1994. No option shall be granted or exercised if the grant of the option, or the exercise and the issuance of shares pursuant thereto, would be contrary to law or the regulations of any
duly constituted authority having jurisdiction. 
 13. Alteration, Termination, Discontinuance, Suspension or Amendment. The Plan
shall terminate on June 10, 2003 and no options shall be granted under the Plan after such date. The Board may alter, terminate, discontinue, suspend or amend the Plan. Neither the Board nor the Committee may, however, increase the maximum
number of shares in the aggregate that may be offered for sale under options or change the manner of determining the option price or, without the consent of the Participant, alter or impair any option previously granted to him under the Plan, except
as provided in Section 15. In no way shall the termination of the Plan impair or alter the rights of the Participant to exercise options granted under the Plan or alter the rights of the Committee under Section 8 of the Plan. The Committee
may issue new options in exchange for outstanding options. 
 14. Effect of Changes in Common Stock. If by reason of recapitalization,
reclassification, stock split-up, combination of shares, separation (including a spin-off) or dividend on the stock of the Company payable in stock, the outstanding shares of stock of the Company are increased or decreased or changed into or
exchanged for a different number or kind of shares or other securities of the Company, the Committee shall conclusively determine the equitable adjustment in the exercise prices of outstanding options and in the number and kind of shares as to which
outstanding options shall be exercisable, and the total number of shares of stock of the Company in which options may be granted under this Plan shall be equitably adjusted by the Committee. 
  

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 Reorganization. If the Company is a party to any merger or consolidations, any purchase or
acquisition of property or stock, or any separation, reorganization or liquidation, the Committee (or, if the Company is not the surviving corporation, the Board of Directors of the surviving corporation) shall have the power to make arrangements,
which shall be binding upon the holders of unexpired options, for the substitution of new options for, or the assumption by another corporation of, any unexpired options then outstanding hereunder, and the total number of shares of stock in which
options may be granted under this Plan shall be appropriately adjusted by the Committee. 
 15. Securities Laws. With respect to
persons subject to Section 16 of the Securities Exchange Act of 1934 (“1934 Act”), transactions under this Plan are intended to comply with all applicable conditions of Rule 16b-3 or its successors under the 1934 Act. To the extent
any provision of the Plan or action by the Committee or the Board of Directors fails to so comply, it shall be deemed null and void, to the extent permitted by law and deemed advisable by the Committee. 
  

 41997 Non-Qualified Stock Option Plan for Non-Employee Directors

 EXHIBIT 10.8 
 ANALOGIC CORPORATION 
 1997 NON-QUALIFIED STOCK OPTION PLAN 
 FOR NON-EMPLOYEE DIRECTORS 
 DATED
JANUARY 31, 1997, 
 AS AMENDED DECEMBER 8, 2003 AND SEPTEMBER 20, 2006 
  

	1.	Purpose 

 The purpose of this 1997 Non-Qualified
Stock Option Plan for Non-Employee Directors is to attract and retain the services of experienced and knowledgeable independent directors of the Corporation for the benefit of the corporation and its stockholders and to provide additional incentives
for such independent directors to continue to work for the best interests of the Corporation and its stockholders through continuing ownership of its common stock. 
  

	2.	Definitions 

 As used herein, each of the following
terms has the indicated meaning: 
 “Corporation” means Analogic Corporation. 
 “Fair Market Value” means high and low sale price quoted on the NASDAQ or such other national securities exchange on which the shares may be
traded on the date of the granting of the Option. 
 “Option” means the contractual right to purchase shares upon the specific
terms set forth in this Plan. 
 “Option Exercise Period” means the period commencing one (1) year after the date of grant of
an Option pursuant to this Plan and ending ten (10) years from the date of grant. 
 “Plan” means this Analogic Corporation
1997 Non-Qualified Stock Option Plan for Non-Employee Directors. 
 “Shares” means the Common Stock, $.05 par value, of the
Corporation. 
 “Subsidiary” means any corporation in an unbroken chain of corporations beginning with the Corporation if, at the
time of grant of the Option, each of the corporations other than the last in the unbroken chain owns stock representing fifty (50%) percent or more of the total combined voting power of all classes of stock in one of the other corporations in
such chain. 
  

	3.	Stock Subject to the Plan 

 The aggregate number of
Shares that may be issued and sold under the Plan shall be 150,000 shares. The Shares to be issued upon exercise of Options granted under this Plan shall be made available, at the discretion of the Board of Directors, from (i) treasury shares
and Shares reacquired by the Corporation for such purposes, including Shares purchased in the open market, (ii) authorized but unissued Shares, and (iii) Shares previously reserved for issuance upon exercise of Options which have expired
or been terminated. If any Option granted under this Plan shall expire or terminate for any reason without having been exercised in full, the unpurchased Shares covered thereby shall become available for grant under additional Options under the Plan
so long as it shall remain in effect. 

	4.	Administration of the Plan 

 The Plan shall be
administered by the Board of Directors of the Corporation (the “Board”). The Board shall, subject to the provisions of the Plan, grant options under the Plan and shall have the power to construe the Plan, to determine all questions as to
eligibility, and to adopt and amend such rules and regulations for the administration of the Plan as it may deem desirable. 
  

	5.	Eligibility; Grant of Option 

 Options will be
granted only to directors of the Corporation or of a Subsidiary who are not otherwise employees of the Corporation or any Subsidiary (“Non-Employee Directors”). Each new Non-Employee Director who is elected to the Board shall be granted an
option to acquire 5,000 Shares, effective as of the date he or she is first elected to the Board. Every four (4) years from the date on which a Non-Employee Director was last granted a Non-Employee Director option under this Plan, that
Non-Employee Director shall be granted an option to acquire 5,000 Shares, effective as of the date of that fourth anniversary. 
  

	6.	Terms of Options and Limitations Thereon 

 (a)
Option Agreement. Each Option granted under this Plan shall be evidenced by an Option agreement between the Corporation and the Option holder and shall be upon such terms and conditions not inconsistent with this Plan, as the Board may
determine. 
 (b) Price. The price at which any Shares may be purchased pursuant to the exercise of an Option shall be the Fair Market
Value of the Shares on the date of grant, but in no event shall the price be less than the par value of the Shares. 
 (c) Exercise of
Option. Subject to Paragraphs 4 and 7 of this Plan, each Option granted under this Plan may be exercised in full at one time or in part from time to time only during the Option Exercise Period by the giving of written notice, signed by the
person or persons exercising the Option, to the Corporation stating the numbers of Shares with respect to which the option is being exercised, accompanied by full payment for such Shares pursuant to Section 7(b) hereof; provided however, if a
person to whom an Option has been granted retires or dies during the Option Exercise Period, such Option shall be exercisable by him or her or by the executors, administrators, legatees or distributees of his or her estate during the (i) twelve
(12) months following his or her retirement or death; and, (ii) if a person to whom an Option has been granted ceases to be a Non-Employee Director of the Corporation for any cause other than retirement or death, such Option shall be
exercisable during the seven month period following the date such person ceased to be a Non-Employee Director, but, in any event, only to the extent vested pursuant to Section 7(a) hereof. 
 (d) Non-Assignability. No Option or right or interest in an Option shall be assignable or transferable by the holder, except by will or the laws
of descent and distribution and during the lifetime of the holder, shall be exercisable only by him or her. 
  

	7.	Vesting; Payment 

 (a) Subject to Paragraphs 4 and 6
of this Plan, Options granted under this Plan may be exercised during the Option Exercise Period with respect to the following indicated percentage of the total number of shares of Stock subject to the Option at the expiration of the following
indicated periods from the date of grant of the Option: 33 1/3% of the number of Shares subject to the Option one (1) or more years after the date of grant; 66 2/3% of the number of Shares subject to the Option two (2) or more years
after the date of grant; and 100% of the Shares of Stock subject to the Option three (3) or more years after the date of grant. However, if one of the events referred to in clauses (i) and (ii) of Paragraph 6(c) occurs, the Option
shall be exercisable during the specified period following said retirement or death only as to the number of Shares as to which it was exercisable immediately prior to said retirement or death. 
  

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 (b) The purchase price of Shares upon exercise of an Option shall be paid by the Option holder in full
upon exercise and may be paid (i) in cash, (ii) by delivery of Shares, or (iii) any combination of cash and Shares, as the Board may determine. 
 (c) No Shares shall be issued or transferred upon exercise of any Option under this Plan unless and until all legal requirements applicable to the issuance or transfer of such shares and such other requirements as are
consistent with the Plan have been complied with to the satisfaction of the Board, including without limitation those requirements described in Paragraph 10 hereof. 
  

	8.	Stock Adjustments 

 (a) If the Corporation is a
party to any merger or consolidation, any purchase or acquisition of property or stock, or any separation, reorganization or liquidation, the Board of Directors (or, if the Corporation is not the surviving corporation, the Board of Directors of the
surviving corporation) shall have the power to make arrangements, which shall be binding upon the holders of unexpired Options, for the substitution of new options for, or the assumption by another corporation of, any unexpired options then
outstanding hereunder. 
 (b) If by reason of recapitalization, reclassification, stock split-up, combination of shares, separation
(including a spin-off) or dividend on the stock payable in Shares, the outstanding Shares of the Corporation are increased or decreased or changed into or exchanged for a different number or kind of shares or other securities of the Corporation, the
Board of Directors shall conclusively determine the equitable adjustment in the exercise prices of outstanding Options and in the number and kind of shares as to which outstanding Options shall be exercisable. 
 (c) In the event of a transaction of the type described in Paragraphs (a) and (b) above, the total number of Shares on which Options may be
granted under this Plan shall be equitably adjusted by the Board of Directors. 
  

	9.	No Rights Other Than Those Expressly Created 

 Other
than Non-Employee Directors, no person affiliated with the Corporation or any Subsidiary or any other person shall have any claim or right to be granted an Option hereunder. Neither this Plan nor any action taken hereunder shall be construed as
(i) giving any Option holder any right to continue to be affiliated with Corporation, (ii) giving any Option holder any equity or interest of any kind in any assets of the Corporation, or (iii) creating a trust of any kind or a
fiduciary relationship of any kind between the Corporation and any such person. No Option holder shall have any of the rights of a stockholder with respect to Shares covered by an Option until such time as the Option has been exercised and Shares
have been issued to such person. 
  

	10.	Miscellaneous 

 (a) Withholding of Taxes.
Pursuant to applicable federal, state, local or foreign laws, the Corporation may be required to collect income or other taxes upon the grant of an Option to, or exercise of an Option by, a holder. The Corporation may require, as a condition to
the exercise of an Option, that the recipient pay the Corporation, at such time as the Board determines, the amount of any taxes which the Board may determine is required to be withheld. 
 (b) Securities Law Compliance. Upon exercise of an Option, the holder shall be required to make such representation and furnish such information
as may, in the opinion of counsel for the Corporation, be appropriate to permit the Corporation to issue or transfer the Shares in compliance with the provisions of applicable federal or state securities laws. The Corporation, in its discretion, may
postpone the issuance and delivery of Shares upon any exercise of an Option until completion of such registration or other qualification of such Shares under any federal or state laws, or stock exchange listing, as the Corporation may consider
appropriate. The Corporation is not obligated to register or qualify the Shares under federal or state securities laws and may refuse to issue such Shares if neither registration nor exemption therefrom is practical. The Board may require that prior
to the issuance or transfer of any Shares upon exercise of an Option, the recipient enter into a written agreement to 

  

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comply with any restriction on subsequent disposition that the Board or the Corporation deems necessary or advisable under any applicable federal and state
securities laws. Certificates representing the Shares issued hereunder may be legended to reflect such restrictions. 
 (c) Indemnity.
The Board of Directors shall not be liable for any act, omission, interpretation, construction or determination made in good faith in connection with their responsibilities with respect to the Plan, and the Corporation hereby agrees to indemnify
the members of the Board of Directors, in respect of any claim, loss, damage, or expense (including counsel fees) arising from any such act, omission, interpretation, construction or determination to the fullest extent permitted by law. 

 

	12.	Effective Date; Amendment; Termination 

 (a) The
“Effective Date” of this Plan was January 24, 1997. The effective date of the Plan, as amended on December 8, 2003, shall be the date on which the amendments hereto are approved by stockholders of the Corporation holding at least
a majority of the voting stock of the Corporation. 
 (b) The date of grant of any Option granted hereunder shall be as set forth in
Paragraph 5 of this Plan. 
 (c) Except as otherwise provided below, the Board of Directors of the Corporation may at any time, and from time
to time, amend, suspend or terminate this Plan in whole or in part. However, except as provided herein, no amendment, suspension or termination of this Plan may affect the rights of any person to whom an Option has been granted without such
person’s consent. Paragraphs 5, 6(a), and 6(b) of this Plan may not be amended more than once every six (6) months, other than to comply with changes in the Internal Revenue Code. 
 (d) This Plan shall terminate twenty (20) years from the Effective Date, and no Option shall be granted under this Plan thereafter, but such
termination shall not affect the validity of Options granted prior to the date of termination. 
 Date of Board of Director Adoption: June 12, 1996

 Date of Board of Director Adoption of Amendment: December 8, 2003 
 Date of Board of Director Adoption of Amendment: September 20, 2006 
  

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