Document:

exv10w1

Exhibit 10.1

CARDIOGENESIS CORPORATION

RESTRICTED STOCK PURCHASE AGREEMENT

UNDER

STOCK OPTION PLAN

     THIS RESTRICTED STOCK PURCHASE AGREEMENT (the “Agreement”) is entered into as of
                    ,
20___ by and between                                          (hereinafter referred to as
“Purchaser”), and Cardiogenesis Corporation, a California corporation (hereinafter referred
to as the “Company”), pursuant to the Company’s Stock Option Plan, as amended from time to
time (the “Plan”). Any capitalized term not defined herein shall have the same meaning
ascribed to it in the Plan.

R E C I T A L S:

     A. Purchaser is an Employee or Consultant, and in connection therewith has rendered services
for and on behalf of the Company.

     B. The Company desires to issue shares of Common Stock to Purchaser for the consideration set
forth herein to provide an incentive for Purchaser to remain an Employee or Consultant of the
Company and to exert added effort towards its growth and success.

     NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth, and for other
good and valuable consideration, the parties agree as follows:

     1. Issuance of Shares. The Company hereby sells to Purchaser, and Purchaser hereby
purchases from the Company, an aggregate of                                          (                    ) shares of Common Stock of the
Company (the “Shares”) on the terms and conditions set forth in this Agreement and the
Plan.

     2. [Consideration. The purchase price (the “Purchase Price”) for the Shares shall be
$      per share, or a total of $                    .]

     3. Vesting of Shares.

          (a) Subject to Section 4(f) below, the Shares acquired hereunder shall vest and become
“Vested Shares” as to                      percent (___%) of the Shares on the first anniversary of the
date of this Agreement,                      percent (___%) of the Shares on the second anniversary of the date
of this Agreement and                                          percent (___%) of the Shares on the third anniversary of the date
of this Agreement, at which time 100% of the Shares shall be Vested Shares. Shares which have not
yet become vested are herein called “Unvested Shares.” No additional shares shall vest
after the date of termination of Purchaser’s Continuous Status as an Employee or Consultant.

          (b) Notwithstanding Section 3(a), the Administrator may determine that if Purchaser holds
Shares at the time of a merger of the Company with or into another corporation, or the sale of
substantially all of the assets of the Company, the Repurchase Option shall automatically terminate
immediately prior to the consummation of such transaction, and the Shares subject to the terminated
Repurchase Option shall immediately vest in full, except to the extent that this Agreement is
continued, assumed, or substituted for by the acquiring or successor entity (or parent thereof) in
connection with such transaction. If the Administrator does not make such determination, the
Shares

 

will cease vesting upon the consummation of such transaction (except as provided for in
subsection (c) below) and Purchaser shall not have any right or title in any Unvested Shares.

          (c) However, if in the event of a transaction described in subsection (b) above, the acquiring
or successor entity (or parent thereof) provides for the continuance or assumption of this
Agreement or the substitution for this Agreement of a new agreement of comparable value covering
shares of a successor corporation (with appropriate adjustments as to the number and kind of shares
and the purchase price), then the Repurchase Option shall not terminate, and vesting of the Shares
shall not accelerate in connection with such transaction.

     4. Repurchase Option Upon Termination of Employment.

          (a) Repurchase Option. The Company shall have the right (but not the obligation) to
repurchase (the “Repurchase Option”) any or all of the Shares upon the voluntary or
involuntary termination of the Purchaser’s employment with the Company for any reason (including
death or Disability). Upon exercise of the Repurchase Option, the Purchaser shall be obligated to
sell his or her Shares to the Company, as provided in this Section 4.

          (b) Consideration for Repurchase Option. The repurchase price of the Shares purchased
pursuant to the Company’s Repurchase Option (the “Repurchase Price”) shall be equal to the
Purchase Price paid by the Purchaser. The Repurchase Price shall be payable, at the option of the
Company, by check or by cancellation of all or a portion of any outstanding indebtedness of
Purchaser to the Company, or by any combination thereof.

          (c) Procedure for Exercise of Repurchase Option. For ninety (90) days after the date of
voluntary or involuntary termination of the Purchaser’s employment with the Company for any reason
(including death or Disability), the Company may exercise its Repurchase Option by giving Purchaser
and/or any other person obligated to sell written notice of the number of Shares which the Company
desires to purchase.

          (d) Notification and Settlement. In the event that the Company has elected to exercise the
Repurchase Option as to part or all of the Shares within the period described above, Purchaser or
such other person shall deliver to the Company certificate(s) representing the Shares to be
acquired by the Company within thirty (30) days following the date of the notice from the Company.
The Company shall deliver to Purchaser against delivery of the Shares, checks of the Company
payable to Purchaser and/or any other person obligated to transfer the Shares in the aggregate
amount of the Repurchase Price to be paid as set forth in Section 4(b) above.

          (e) Deposit of Unvested Shares. Purchaser shall deposit with the Company certificates
representing the Unvested Shares, together with a duly executed stock assignment separate from
certificate in blank, which shall be held by the Secretary of the Company. Purchaser shall be
entitled to vote and to receive dividends and distributions on all such deposited Shares.

          (f) Termination. The provisions of this Section 4 shall automatically terminate and the
Shares shall not be subject to the Repurchase Option (and thus shall become Vested Shares) in
accordance with Section 3(b) above.

          (g) Assignment. The Company may assign its Repurchase Option under this Section 4 without the
consent of the Purchaser.

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     5. Adjustments Upon Changes in Capital Structure. Subject to any required action by
the shareholders of the Company, in the event that the outstanding shares of Common Stock of the
Company are hereafter increased or decreased or changed into or exchanged for a different number or
kind of shares or other securities of the Company by reason of a stock split, reverse stock split,
stock dividend, combination or reclassification of the Common Stock or any other increase or
decrease in the number of issued shares of Common Stock effected without the receipt of
consideration by the Company; provided, however that conversion of any convertible securities of
the Company shall not be deemed to have been “effected without receipt of consideration,” then
Purchaser shall be entitled to new or additional or different shares of stock or securities, in
order to preserve, as nearly as practical, but not to increase, the benefits of Purchaser under
this Agreement, in accordance with the provisions of Section 13(a) of the Plan. Such new,
additional or different shares shall be deemed “Shares” for purposes of this Agreement and subject
to all of the terms and conditions hereof.

     6. Shares Free and Clear. All Shares purchased by the Company pursuant to this
Agreement shall be delivered by Purchaser free and clear of all claims, liens and encumbrances of
every nature (except the provisions of this Agreement and any conditions concerning the Shares
relating to compliance with applicable federal or state securities laws), and the purchaser thereof
shall acquire full and complete title and right to all of such Shares, free and clear of any
claims, liens and encumbrances of every nature (again, except for the provisions of this Agreement
and such securities laws).

     7. Investment Representations. The Purchaser warrants and represents to the Company
as follows:

          (a) The Purchaser is purchasing the Shares solely for the Purchaser’s own account for
investment and not with a view to or for sale or distribution of the Shares or any portion thereof
and not with any present intention of selling, offering to sell or otherwise disposing of or
distributing the Shares or any portion thereof. The Purchaser also represents that the entire
legal and beneficial interest of the Shares the Purchaser is purchasing is being purchased for, and
will be held for the account of, the Purchaser only and neither in whole nor in part for any other
person.

          (b) The Purchaser has heretofore received all such information as the Purchaser deems
necessary and appropriate to enable the Purchaser to evaluate the financial risk inherent in making
an investment in the Shares of the Company and the Purchaser further represents and warrants that
the Purchaser has received satisfactory and complete information concerning the business and
financial condition of the Company in response to all inquiries in respect thereof.

          (c) The Purchaser realizes that the purchase of the Shares is a highly speculative investment
and represents that the Purchaser is able, without impairing the Purchaser’s financial condition,
to hold the Shares for an indefinite period of time and to suffer a complete loss on the
investment.

          (d) The Purchaser understands that the Shares are restricted securities within the meaning of
Rule 144 promulgated under the Securities Act of 1933, as amended; that the exemption from
registration under Rule 144 will not be available in any event for at least one (1) year from the
date of sale of the Shares to the Purchaser, and even then will not be available unless (i) a
public trading market then exists for the Shares of the Company, (ii) adequate current public
information concerning the Company is then available to the public, (iii) the Purchaser has been
the beneficial

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owner and the Purchaser has paid the full Purchase Price for the Shares at least one (1) year
prior to the sale, and (iv) other terms and conditions of Rule 144 are complied with; and that any
sale of the Shares may be made by it only in limited amounts in accordance with such terms and
conditions, as amended from time to time.

     8. Limitation of Company’s Liability.

          (a) The Company agrees to use its reasonable best efforts to obtain from any applicable
regulatory agency such authority or approval as may be required in order to issue and sell the
Shares to Purchaser pursuant to this Agreement. The inability of the Company to obtain, from any
such regulatory agency, authority or approval deemed by the Company’s counsel to be necessary for
the lawful issuance and sale of the Shares hereunder and under the Plan shall relieve the Company
of any liability in respect of the failure to issue or sell such Shares as to which such requisite
authority or approval shall not have been obtained.

          (b) The Company shall not be required to: (i) transfer on its books any Shares of the Company
which shall have been sold or transferred in violation of any of the provisions set forth in this
Agreement, or (ii) treat as owner of such shares or to accord the right to vote as such owner or to
pay dividends to any transferee to whom such shares shall have been so transferred.

     9. Notices. Any notice, demand or request required or permitted to be given under
this Agreement shall be in writing and shall be deemed given when delivered personally or three (3)
days after being deposited in the United States mail, as certified or registered mail, with postage
prepaid, (or by such other method as the Administrator may from time to time deem appropriate), and
addressed, if to the Company, at its principal place of business, Attention: Chief Financial
Officer, and if to the Purchaser, at his or her most recent address as shown in the employment or
stock records of the Company.

     10. Binding Obligations. All covenants and agreements herein contained by or on
behalf of any of the parties hereto shall bind and inure to the benefit of the parties hereto and
their permitted successors and assigns.

     11. Captions and Section Headings. Captions and section headings used herein are for
convenience only, and are not part of this Agreement and shall not be used in construing it.

     12. Amendment. This Agreement may not be amended, waived, discharged, or terminated
other than by written agreement of the parties.

     13. Entire Agreement. This Agreement, the Notice of Grant and the Plan constitute the
entire agreement between the parties with respect to the subject matter hereof and supersede all
prior or contemporaneous written or oral agreements and understandings of the parties, either
express or implied.

     14. Assignment. Purchaser shall have no right, without the prior written consent of
the Company, to (i) sell, assign, mortgage, pledge or otherwise transfer any interest or right
created hereby, or (ii) delegate his or her duties or obligations under this Agreement. This
Agreement is made solely for the benefit of the parties hereto, and no other person, partnership,
association or corporation shall acquire or have any right under or by virtue of this Agreement.

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     15. Severability. Should any provision or portion of this Agreement be held to be
unenforceable or invalid for any reason, the remaining provisions and portions of this Agreement
shall be unaffected by such holding.

     16. Counterparts. This Agreement may be executed in one or more counterparts, all of
which taken together shall constitute one agreement and any party hereto may execute this Agreement
by signing any such counterpart. This Agreement shall be binding upon Purchaser and the Company at
such time as the Agreement, in counterpart or otherwise, is executed by Purchaser and the Company.

     17. Governing Law. This Agreement shall be construed in accordance with the laws of
the State of California without reference to choice of law principles, as to all matters,
including, but not limited to, matters of validity, construction, effect or performance.

     18. No Agreement to Employ. Nothing in this Agreement shall affect any right with
respect to continuance of employment by the Company or any of its subsidiaries. The right of the
Company or any of its subsidiaries to terminate at will the Purchaser’s employment at any time
(whether by dismissal, discharge or otherwise), with or without cause, is specifically reserved,
subject to any other written employment agreement to which the Company and Purchaser may be a
party.

     19. “Market Stand-Off” Agreement. Purchaser agrees that, if requested by the Company
or the managing underwriter of any proposed public offering of the Company’s securities, Purchaser
will not sell or otherwise transfer or dispose of any Shares held by Purchaser without the prior
written consent of the Company or such underwriter, as the case may be, during such period of time,
not to exceed 180 days following the effective date of the registration statement filed by the
Company with respect to such offering, as the Company or the underwriter may specify.

     20. Tax Elections. Purchaser understands that Purchaser (and not the Company) shall
be responsible for the Purchaser’s own tax liability that may arise as a result of the acquisition
of the Shares. Purchaser acknowledges that Purchaser has considered the advisability of all tax
elections in connection with the purchase of the Shares, including the making of an election under
Section 83(b) under the Code; Purchaser further acknowledges that the Company has no responsibility
for the making of such Section 83(b) election. In the event Purchaser determines to make a
Section 83(b) election, Purchaser agrees to timely provide a copy of the election to the Company as
required under the Code.

     21. Legend. All certificates representing the Shares will bear the following legend:

THE SHARES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, PLEDGED OR
ENCUMBERED, EXCEPT IN CONFORMITY WITH THE TERMS OF A RESTRICTED STOCK PURCHASE AGREEMENT BETWEEN
CARDIOGENESIS CORPORATION (THE “COMPANY”) AND THE REGISTERED HOLDER OF THE SHARES (OR HIS
PREDECESSOR IN INTEREST).

     22. Attorneys’ Fees. If any party shall bring an action in law or equity against
another to enforce or interpret any of the terms, covenants and provisions of this Agreement, the
prevailing party in such action shall be entitled to recover from the other party reasonable
attorneys’ fees and costs.

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     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above
written.

	 	 	 	 	 	 	 	 	 
	THE COMPANY:

	 	 	 	PURCHASER:	 	 
	 
	 	 	 	 	 	 	 	 
	CARDIOGENESIS CORPORATION

	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 

	 	 
	Name:
	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 

(Print Name)
	 	 
	Title:
	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Address:	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

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CONSENT AND RATIFICATION OF SPOUSE

     The undersigned, the spouse of                                                             , a party t
o the attached Restricted Stock
Purchase Agreement (the “Agreement”), dated as of                                         , hereby consents to the
execution of said Agreement by such party; and ratifies, approves, confirms and adopts said
Agreement, and agrees to be bound by each and every term and condition thereof as if the
undersigned had been a signatory to said Agreement, with respect to the Shares (as defined in the
Agreement) made the subject of said Agreement in which the undersigned has an interest, including
any community property interest therein.

     I also acknowledge that I have been advised to obtain independent counsel to represent my
interests with respect to this Agreement but that I have declined to do so and I hereby expressly
waive my right to such independent counsel.

	 	 	 	 	 	 	 	 	 
	Date:
	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 

(Signature)
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 

(Print Name)exv10w2

Exhibit 10.2

CARDIOGENESIS CORPORATION

STOCK OPTION PLAN

(AS AMENDED, MARCH 2009)

     1. Purposes of the Plan. The purposes of this Stock Plan are:

	 	—	 	to attract and retain the best available personnel for
positions of substantial responsibility,
	 
	 	—	 	to provide additional incentive to Employees and Consultants; and
	 
	 	—	 	to promote the success of the Company’s business.

Options granted under the Plan may be Incentive Stock Options or Nonstatutory Stock Options, as
determined by the Administrator at the time of grant. Stock Purchase Rights may also be granted
under the Plan.

     2. Definitions. As used herein, the following definitions shall apply:

          (a) “Administrator” means the Board or any of its Committees as shall be administering the
Plan, in accordance with Section 4 of the Plan.

          (b) “Applicable Laws” means the legal requirements relating to the administration of stock
option plans under U. S. state corporate laws, U. S. federal and state securities laws, the Code
and the applicable laws of any foreign country or jurisdiction where Options or Stock Purchase
Rights are, or will be, granted under the Plan.

          (c) “Board” means the Board of Directors of the Company.

          (d) “Code” means the Internal Revenue Code of 1986, as amended.

          (e) “Committee” means a Committee appointed by the Board in accordance with Sec. 4 of Plan.

          (f) “Common Stock” means the Common Stock of the Company.

          (g) “Company” means CardioGenesis Corporation, a California corporation formerly known as
Eclipse Surgical Technologies, Inc.

          (h) “Consultant” means any person, including an advisor, engaged by the Company or a Parent or
Subsidiary to render services and who is compensated for such services. The term “Consultant”
shall not include Directors who are paid only a director’s fee by the Company or who are not
compensated by the Company for their services as Directors.

          (i) “Continuous Status as an Employee or Consultant” means that the employment or consulting
relationship with the Company, any Parent, or Subsidiary, is not interrupted or terminated.
Continuous Status as an Employee or Consultant shall not be considered interrupted in the case of
(i) any leave of absence approved by the Company or (ii) transfers between locations of the Company
or between the Company, its Parent, any Subsidiary, or any successor. A

 

 

leave of absence approved by the Company shall include sick leave, military leave, or any
other personal leave approved by an authorized representative of the Company. For purposes of
Incentive Stock Options, no such leave may exceed ninety days, unless reemployment upon expiration
of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of
absence approved by the Company is not so guaranteed, on the 181st day of such leave any Incentive
Stock Option held by the Optionee shall cease to be treated as an Incentive Stock Option and shall
be treated for tax purposes as a Nonstatutory Stock Option.

          (j) “Director” means a member of the Board.

          (k) “Disability” means total and permanent disability as defined in Section 22(e)(3) of the
Code.

          (l) “Employee” means any person, including Officers and Directors, employed by the Company or
any Parent or Subsidiary of the Company. Neither service as a Director nor payment of a director’s
fee by the Company shall be sufficient to constitute “employment” by the Company.

          (m) “Exchange Act” means the Securities Exchange Act of 1934, as amended.

          (n) “Fair Market Value” means, as of any date, the value of Common Stock determined as
follows:

               (i) If the Common Stock is listed on any established stock exchange or a national market
system, including without limitation the Nasdaq National Market or The Nasdaq SmallCap Market of
The Nasdaq Stock Market, its Fair Market Value shall be the closing sale price for such stock (or
the closing bid, if no sales were reported) as quoted on such exchange or system for the last
market trading day prior to the time of determination, as reported in The Wall Street Journal or
such other source as the Administrator deems reliable;

               (ii) If the Common Stock is regularly quoted by a recognized securities dealer but 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 last market trading day prior to the
day of determination, as reported in The Wall Street Journal or such other source as the
Administrator deems reliable;

               (iii) In the absence of an established market for the Common Stock, the Fair Market Value
shall be determined in good faith by the Administrator.

          (o) “Incentive Stock Option” means an Option intended to qualify as an incentive stock option
within the meaning of Section 422 of the Code and the regulations promulgated thereunder.

          (p) “Nonstatutory Stock Option” means an Option not intended to qualify as an Incentive Stock
Option.

          (q) “Notice of Grant” means a written notice evidencing certain terms and conditions of an
individual Option or Stock Purchase Right grant. The Notice of Grant is part of the Option
Agreement.

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          (r) “Officer” means a person who is an officer of the Company within the meaning of Section 16
of the Exchange Act and the rules and regulations promulgated thereunder.

          (s) “Option” means a stock option granted pursuant to the Plan.

          (t) “Option Agreement” means a written agreement between the Company and an Optionee
evidencing the terms and conditions of an individual Option grant. The Option Agreement is subject
to the terms and conditions of the Plan.

          (u) “Option Exchange Program” means a program whereby Outstanding options are surrendered in
exchange for options with a lower exercise price.

          (v) “Optioned Stock” means the Common Stock subject to an Option or Stock Purchase Right.

          (w) “Optionee” means an Employee or Consultant who holds an outstanding Option or Stock
Purchase Right.

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

          (y) “Plan” means this Stock Option Plan.

          (z) “Restricted Stock” means shares of Common Stock acquired pursuant to a grant of Stock
Purchase Rights under Section 11 below.

          (aa) “Restricted Stock Purchase Agreement” means a written agreement between the Company and
the Optionee evidencing the terms and restrictions applying to stock purchased under a Stock
Purchase Right. The Restricted Stock Purchase Agreement is subject to the terms and conditions of
the Plan and the Notice of Grant.

          (bb) “Rule 16b-3” means Rule 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in
effect when discretion is being exercised with respect to the Plan.

          (cc) “Section 16(b)” means Section 16(b) of the Securities Exchange Act of 1934, as amended.

          (dd) “Share” means a share of the Common Stock, as adjusted in accordance with Section 13 of
the Plan.

          (ee) “Stock Purchase Right” means the right to purchase Common Stock pursuant to Section 11 of
the Plan, as evidenced by a Notice of Grant.

          (ff) “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. Subject to the provisions of Section 13 of the Plan,
the maximum aggregate number of Shares which may be optioned and sold under the Plan is 11,100,000
Shares. The Shares may be authorized, but unissued, or reacquired Common Stock. The Plan is the
successor to the Company’s Dual Stock Option Plan (the “Prior Plan”). Options granted under the

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Prior Plan continue to be subject to the terms and conditions of the Prior Plan and not the
Plan unless otherwise agreed on a case by case basis by holders of such options. No further
options may be granted under the Prior Plan. The number of Options outstanding under the Prior
Plan and the number of Shares issued upon exercise of options granted under the Prior Plan reduces
the number of Shares which may be optioned and sold under the Plan. If an option granted under the
Prior Plan expires without being exercised, then the number of Shares which may be optioned and
sold under the Plan increases by such number.

     If an Option or Stock Purchase Right expires or becomes unexercisable without having been
exercised in full, the unpurchased Shares which were subject thereto shall become available for
future grant or sale under the Plan (unless the Plan has terminated); provided, however, that
Shares that have actually been issued under the Plan, whether upon exercise of an Option or Right,
shall not be returned to the Plan and shall not become available for future distribution, under the
Plan, except that if Shares of Restricted Stock are repurchased by the Company at their original
purchase price, and the original purchaser of such Shares did not receive any benefits of ownership
of such Shares, such Shares shall become available for future grant under the Plan. For purposes
of the preceding sentence, voting rights shall not be considered a benefit of Share ownership.

     4. Administration of the Plan.

          (a) Procedure.

               (i) Multiple Administrative Bodies. If permitted by Rule 16b-3, the Plan may be
administered by different bodies with respect to Directors, Officers who are not Directors, and
Employees who are neither Directors nor Officers.

               (ii) Administration With Respect to Directors and Officers Subject to Section l6(b).
With respect to Option or Stock Purchase Right grants made to Employees who are also Officers or
Directors subject to Section 16(b) of the Exchange Act, the Plan shall be administered by (A) the
Board, if the Board may administer the Plan in a manner complying with the rules under Rule 16b-3
relating to the disinterested administration of employee benefit plans under which Section 16(b)
exempt discretionary grants and awards of equity securities are to be made, or (B) a committee
designated by the Board to administer the Plan, which committee shall be constituted to comply with
the rules under Rule 16b-3 relating to the disinterested administration of employee benefit plans
under which Section 16(b) exempt discretionary grants and awards of equity securities are to be
made. Once appointed, such Committee shall continue to serve in its designated capacity until
otherwise directed by the Board. From time to time the Board may increase the size of the
Committee and appoint additional members, remove members (with or without cause) and substitute new
members, fill vacancies (however caused), and remove all members of the Committee and thereafter
directly administer the Plan, all to the extent permitted by the rules under Rule 16b-3 relating to
the disinterested administration of employee benefit plans under which Section 16(b) exempt
discretionary grants and awards of equity securities are to be made.

               (iii) Administration With Respect to Other Persons. With respect to Option or Stock
Purchase Right grants made 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 to satisfy Applicable Laws. Once appointed, such
Committee shall serve in its designated capacity until otherwise directed by the Board. The Board
may increase the size of the Committee and appoint additional members, remove

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members (with or without cause) and substitute new members, fill vacancies (however caused),
and remove all members of the Committee and thereafter directly administer the Plan, all to the
extent permitted by Applicable Laws.

          (b) Powers of the Administrator. Subject to the provisions of the Plan including
those contained in Section 15(b) of the Plan, and in the case of a Committee, subject to the
specific duties delegated by the Board to such Committee, the Administrator shall have the
authority, in its discretion:

               (i) to determine the Fair Market Value of the Common Stock, in accordance with Section 2(n) of
the Plan.

               (ii) to select the Consultants and Employees to whom Options and Stock Purchase Rights may be
granted hereunder;

               (iii) to determine whether and to what extent Options and Stock Purchase Rights or any
combination thereof, are granted hereunder;

               (iv) to determine the number of shares of Common Stock to be covered by each Option and Stock
Purchase Right granted hereunder;

               (v) to approve forms of agreement for use under the Plan;

               (vi) to determine the terms and conditions, not inconsistent with the terms of the Plan, of
any award granted hereunder. Such terms and conditions include, but are not limited to, the
exercise price, the time or times when Options or Stock Purchase Rights may be exercised (which may
be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions,
and any restriction or limitation regarding any Option or Stock Purchase Right or the shares of
Common Stock relating thereto, based in each case on such factors as the Administrator, in its sole
discretion, shall determine;

               (vii) [deleted];

               (viii) to construe and interpret the terms of the Plan and awards granted pursuant to the
Plan;

               (ix) to prescribe, amend and rescind rules and regulations relating to the Plan, including
rules and regulations relating to sub-plans established for the purpose of qualifying for preferred
tax treatment under foreign tax laws;

               (x) to modify or amend each Option or Stock Purchase Right (subject to Section 15(d) of the
Plan), including the discretionary authority to extend the post-termination exercisability period
of Options longer than is otherwise provided for in the Plan;

               (xi) to authorize any person to execute on behalf of the Company any instrument required to
effect the grant of an Option or Stock Purchase Right previously granted by the Administrator;

               (xii) to institute an Option Exchange Program; and

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               (xiii) to make all other determinations deemed necessary or advisable for administering the
Plan.

          (c) Effect of Administrator’s Decision. The Administrator’s decisions, determinations
and interpretations shall be final and binding on all Optionees and any other holders of Options or
Stock Purchase Rights.

     5. Eligibility. Nonstatutory Stock Options and Stock Purchase Rights may be granted
to Employees and Consultants. Incentive Stock Options may be granted only to Employees. If
otherwise eligible, an Employee or Consultant who has been granted an Option or Stock Purchase
Right may be granted additional Options or Stock Purchase Rights.

     6. Limitations.

          (a) Each Option shall be designated in the written option agreement as either an Incentive
Stock Option or a Nonstatutory Stock Option. However, notwithstanding such designation, to the
extent that the aggregate Fair Market Value of the Shares with respect to which Incentive Stock
Options are exercisable for the first time by the Optionee during any calendar year (under all
plans of the Company and any Parent or Subsidiary) exceeds $100,000, such Options shall be treated
as Nonstatutory Stock Options. For purposes of this Section 6(a), Incentive Stock Options shall be
taken into account in the order in which they were granted. The Fair Market Value of the Shares
shall be determined as of the time the Option with respect to such Shares is granted. If an Option
is granted hereunder that is part Incentive Stock Option and part Nonstatutory Stock Option due to
becoming first exercisable in any calendar year in excess of $100,000, the Incentive Stock Option
portion of such Option shall become exercisable first an such calendar year, and the Nonstatutory
Stock Option portion shall commence becoming exercisable once the $100,000 limit has been reached.

          (b) Neither the Plan nor any Option or Stock Purchase Right shall confer upon an Optionee any
right with respect to continuing the Optionee’s employment or consulting relationship with the
Company, nor shall they interfere in any way with the Optionees right or the Company’s right to
terminate such employment or consulting relationship at any time, with or without cause.

          (c) The following limitations shall apply to grants of Options to Employees:

               (i) No Employee shall be granted, in any fiscal year of the Company, Options to purchase more
than 300,000 Shares.

               (ii) In connection with his or her initial employment, an Employee may be granted Options to
purchase up to an additional 600,000 Shares which shall not count against the limit set forth in
subsection (i) above.

               (iii) The foregoing limitations shall be adjusted proportionately in connection with any
change in the Company’s capitalization as described in Section 13.

               (iv) If an Option is cancelled in the same fiscal year of the Company in which it was granted
(other than in connection with a transaction described in Section 13), the cancelled Option will be
counted against the limits set forth in Subsections (i) and (ii) above.

6

 

     7. Term of Plan. The amended and restated Plan shall begin to be in effect on April
24, 1996, and shall continue in effect until March 31, 2015 unless terminated earlier under Section
15 of the Plan.

     8. Term of Option. The term of each Option shall be stated in the Notice of Grant;
provided, however, that in the case of an Incentive Stock Option, the term shall be ten (10) years
from the date of grant or such shorter term as may be provided in the Notice of Grant. Moreover,
in the case of an Incentive Stock Option granted to an Optionee who, at the time the Incentive
Stock 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, the term of the Incentive Stock
Option shall be five (5) years from the date of grant or such shorter term as may be provided in
the Notice of Grant.

     9. Option Exercise Price and Consideration.

          (a) Exercise Price. The per share exercise price for the Shares to be issued pursuant
to exercise of an Option shall be determined by the Administrator, subject to the following:

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

                    (A) granted to an Employee who, at the time the Incentive Stock 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, the per Share exercise price shall be no less than 110% of the Fair
Market Value per Share on the date of grant.

                    (B) granted to any Employee other than an Employee described in paragraph (A) immediately
above, the per Share exercise price shall be no less than 100% of the Fair Market Value per Share
on the date of grant.

               (ii) In the case of a Nonstatutory Stock Option, the per Share exercise price shall be
determined by the Administrator, but in no case the per Share exercise price shall be no less than
100% of the Fair Market Value per Share on the date of grant.

          (b) Waiting Period and Exercise Dates. At the time an Option is granted, the
Administrator shall fix the period within which the Option may be exercised and shall determine any
conditions which must be satisfied before the Option may be exercised. In so doing, the
Administrator may specify that an Option may not be exercised until the completion of a service
period.

          (c) Form of Consideration. The Administrator shall determine the acceptable form of
consideration for exercising an Option, including the method of payment. In the case of an
Incentive Stock Option, the Administrator shall determine the acceptable form of consideration at
the time of grant. Such consideration may consist entirely of:

               (i) cash;

               (ii) check;

               (iii) promissory note;

7

 

               (iv) other Shares Which (A) in the case of Shares acquired upon exercise of an option, have
been owned by the Optionee for more than six months on the date of surrender, and (B) have a Fair
Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to
which said Option shall be exercised;

               (v) delivery of a properly executed exercise notice together with such other documentation as
the Administrator and the broker, if applicable, shall require to effect an exercise of the Option
and delivery to the Company of the sale or loan proceeds required to pay the exercise price;

               (vi) a reduction in the amount of any Company liability to the Optionee, including any
liability attributable to the Optionee’s participation in any Company-sponsored deferred
compensation program or arrangement;

               (vii) any combination, of the foregoing methods of payment; or

               (viii) such other consideration and method of payment for the issuance of Shares to the extent
permitted by Applicable Laws.

     10. Exercise of Option.

          (a) Procedure for Exercise; Rights as a Shareholder. Any Option granted hereunder
shall be exercisable according to the terms of the Plan and at such times and under such conditions
as determined by the Administrator and set forth in the Option Agreement. An Option may not be
exercised for a fraction of a Share. An Option shall be deemed exercised when the Company
receives: (i) written notice of exercise (in accordance with the Option Agreement) from the person
entitled to exercise the Option, and (ii) full payment for the Shares with respect to which the
Option is exercised. Full payment may consist of any consideration and method of payment
authorized by the Administrator and permitted by the Option Agreement and the Plan. Shares issued
upon exercise of an Option shall be issued in the name of the Optionee or, if requested by the
Optionee, in the name of the Optionee and his or her spouse. Until the stock certificate
evidencing such Shares is issued (as evidenced by the appropriate entry on the books of the Company
or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or
any other rights as a shareholder shall exist with respect to the Optioned Stock, notwithstanding
the exercise of the Option. The Company shall issue (or cause to be issued) such stock certificate
promptly after the Option is exercised. No adjustment will be made for a dividend or other right
for which the record date is prior to the date the stock certificate is issued, except as provided
in Section 13 of the Plan. Exercising an Option in any manner shall decrease the number of Shares
thereafter available, both for purposes of the Plan and for sale under the Option, by the number of
Shares as to which the Option is exercised.

          (b) Termination of Employment or Consulting Relationship. Upon termination of an
Optionee’s Continuous Status as an Employee or Consultant, other than upon the Optionee’s death or
Disability, the Optionee may exercise his or her Option within such period of time as is specified
in the Notice of Grant to the extent that he or she is entitled to exercise it on the date of
termination (but in no event later than the expiration of the term of such Option as set forth in
the Notice of Grant). In the absence of a specified time in the Notice of Grant, the Option shall
remain exercisable for three (3) months following the Optionee’s termination. In the case of an
Incentive Stock Option, such period of time for exercise shall not exceed three (3) months from the
date of

8

 

termination. If, on the date of termination, the Optionee is not entitled to exercise his or
her entire Option, the Shares covered by the unexercisable portion of the Option shall revert to
the Plan. If, after termination, the Optionee does not exercise his or her Option within the time
specified by the Administrator, the Option shall terminate, and the Shares covered by such Option
shall revert to the Plan.

     Notwithstanding the above, in the event of an Optionee’s change in status from Consultant to
Employee or Employee to Consultant, the Optionee’s Continuous Status as an Employee or Consultant
shall not automatically terminate solely as a result of such change in status. In such event, an
Incentive Stock Option held by the Optionee shall cease to be treated as an Incentive Stock Option
and shall be treated for tax purposes as a Nonstatutory Stock Option three months and one day
following such change of status.

          (c) Disability of Optionee. Upon termination of an Optionee’s Continuous Status as an
employee or Consultant as a result of the Optionee’s Disability, the Optionee may exercise his or
her Option at any time within twelve (12) months from the date of termination, but only to the
extent that the Optionee is entitled to exercise it on the date of termination (and in no event
later than the expiration of the term of the Option as set forth in the Notice of Grant). If, on
the date of termination, the Optionee is not entitled to exercise his or her entire Option, the
Shares covered by the unexercisable portion of the Option shall revert to the Plan. If, after
termination, the Optionee does not exercise his or her Option within the time specified herein, the
Option shall terminate, and the Shares covered by such Option shall revert to the Plan.

          (d) Death of Optionee. Upon the death of an Optionee, the Option may be exercised at
any time within twelve (12) months following the date of death (but in no event later than the
expiration of the term of such Option as set forth in the Notice of Grant), by the Optionee’s
estate or by a person who acquires the right to exercise the Option by bequest or inheritance, but
only to the extent that the Optionee would have been entitled to exercise the Option on the date of
death. If, at the time of death, the Optionee is not entitled to exercise his or her entire
Option, the Shares covered by the unexercisable portion of the Option shall immediately revert to
the Plan. If the Optionee’s estate or the person who acquires the right to exercise the Option by
bequest or inheritance does not exercise the Option within the time specified herein, the Option
shall terminate, and the Shares covered by such Option shall revert to the Plan.

          (e) Buyout Provisions. The Administrator may at any time offer to buy out for a
payment in cash or Shares, an Option previously granted based on such terms and conditions as the
Administrator shall establish and communicate to the Optionee at the time that such offer is made.

          (f) Rule 16b-3. Options granted to individuals subject to Section 16 of the Exchange
Act (“Insiders”) must comply with the applicable provisions of Rule 16b-3 and shall contain such
additional conditions or restrictions as may be requited thereunder to qualify for the maximum
exemption from Section 16 of the Exchange Act with respect to Plan transactions.

     11. Stock Purchase Rights.

          (a) Rights to Purchase. Stock Purchase Rights may be issued either alone, in addition
to, or in tandem with other awards granted under the Plan and/or cash awards made outside of the
Plan. After the Administrator determines that it will offer Stock Purchase Rights under the Plan,
it shall advise the offeree in writing, by means of a Notice of Grant, of the terms, conditions

9

 

and restrictions related to the offer, including the number of Shares that the offeree shall
be entitled to purchase, the price to be paid, and the time within which the offeree must accept
such offer, which shall in no event exceed six (6) months from the date upon which the
Administrator made the determination to grant the Stock Purchase Right. The offer shall be
accepted by execution of a Restricted Stock Purchase Agreement in the form determined by the
Administrator.

          (b) Repurchase Option. Unless the Administrator determines otherwise, the Restricted
Stock Purchase Agreement shall grant the Company a repurchase option exercisable upon the voluntary
or involuntary termination of the purchaser’s employment with the Company for any reason (including
death or Disability). The purchase price for Shares repurchased pursuant to the Restricted Stock
purchase agreement shall be the original price paid by the purchaser and may be paid by
cancellation of any indebtedness of the purchaser to the Company. The repurchase option shall
lapse at a rate determined by the Administrator.

          (c) Rule 16b-3. Stock Purchase Rights granted to Insiders, and Shares purchased by
Insiders in connection with Stock Purchase Rights, shall be subject to any restrictions applicable
thereto in compliance with Rule 16b-3. An Insider may only purchase Shares pursuant to the grant
of a Stock Purchase Right, and may only sell Shares purchased pursuant to the grant of a Stock
Purchase Right, during such time or times as are permitted by Rule l6b-3.

          (d) Other Provisions. The Restricted Stock Purchase Agreement shall contain such
other terms, provisions and conditions not inconsistent with the Plan as may be determined by the
Administrator in its sole discretion. In addition, the provisions of Restricted Stock Purchase
Agreements need not be the same with respect to each purchaser.

          (e) Rights as a Shareholder. Once the Stock Purchase Right is enclosed, the purchaser
shall have the rights equivalent to those of a shareholder, and shall be a shareholder when his or
her purchase is entered upon the records of the duly authorized transfer agent of the Company. No
adjustment will be made for a dividend or other right for which the record date is prior to the
date the Stock Purchase Right is exercised, except as provided in Section 13 of the Plan.

     12. Non-Transferability of Options and Stock Purchase Rights. An Option or Stock
Purchase Right 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 Optionee, only by the Optionee.

     13. Adjustments Upon Changes in Capitalization. Dissolution, Merger or Asset Sale.

          (a) Changes in Capitalization. Subject to any required action by the shareholders at’
the Company, the number of shares of Common Stock covered by each outstanding Option and Stock
Purchase Right, and the number of shares of Common Stock which have been authorized for issuance
under the Plan but as to which no Options or Stock Purchase Rights have yet been granted or which
have been returned to the Plan upon cancellation or expiration of an Option or Stock Purchase
Right, as well as the price per share of Common Stock covered by each such outstanding Option or
Stock Purchase Right, shall be proportionately adjusted for any increase or decrease in the number
of issued shares of Common Stock resulting from a stock split, reverse stock split, stock dividend,
combination or reclassification of the Common Stock, or soy other increase or decrease in the
number of issued shares of Common Stock effected without receipt of consideration by the Company;
provided, however, that conversion of any convertible securities of the Company shall not

10

 

be deemed to have been “effected without receipt of consideration.” Such adjustment shall be
made by the Board, whose determination in that respect shall be final, binding and conclusive.
Except as expressly provided herein, 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
thereof shall be made with respect to, the number or price of shares of Common Stock subject to an
Option or Stock Purchase Right.

          (b) Dissolution or Liquidation. In the event of the proposed dissolution or
liquidation of the Company, the Administrator shall notify each Optionee as soon as practicable
prior to the effective date of such proposed transaction. The Administrator in its discretion may
provide for an Optionee to have the right to exercise his or her Option until ten (10) days prior
to such transaction as to all of the Optioned Stock covered thereby, including Shares as to which
the Option would not otherwise be exercisable. In addition, the Administrator may provide that any
Company repurchase option applicable to any Shares purchased upon exercise of an Option shall lapse
as to all such Shares, provided the proposed dissolution or liquidation takes place at the time and
in the manner contemplated. To the extent it has not been previously exercised, an Option will
terminate immediately prior to the consummation of such proposed action.

          (c) Merger or Asset Sale. In the event of a merger of the Company with or into
another corporation, or the sale of substantially all of the assets of the Company, each
outstanding Option and Stock Purchase Right shall be assumed or an equivalent option or right
substituted by the successor corporation or a Parent or Subsidiary of the successor corporation.
In the event that the successor corporation refuses so assume or substitute for the Option or Stock
Purchase Right, the Option shall terminate, unless the Administrator shall provide for the
accelerated vesting of Options outstanding as such time. If an Option or Stock Purchase Right is
exercisable in lieu of assumption or substitution in the event of a merger or sale of assets, the
Administrator shall notify the Optionee that the Option or Stock Purchase Right shall be fully
exercisable for a period of fifteen (15) days from the date of such notice, and the Option or Stock
Purchase Right shall terminate upon the expiration of such period. For the purposes of this
paragraph, the Option or Stock Purchase Right shall be considered assumed if, following the merger
or sale of assets, the option or right confers the right to purchase or receive, for each Share of
Optioned Stock subject to the Option or Stock Purchase Right immediately prior to the merger or
sale of assets, the consideration (whether stock, cash, or other securities or property) received
in the merger or sale of assets by holders of Common Stock for each Share held on the effective
date of the transaction (and if holders were offered a choice of consideration, the type of
consideration chosen by the holders of a majority of the outstanding Shares); provided, however,
that if such consideration received in the merger or sale of assets was not solely common stock of
the successor corporation or its Parent, the Administrator may, with the consent of the successor
corporation, provide for the consideration to be received upon the exercise of the Option or Stock
Purchase Right, for each Share of Optioned Stock subject to the Option or Stock Purchase Right, to
be solely common stock of the successor corporation or its Parent equal in fair market value to the
per share consideration received by holders of Common Stock in the merger or sale of assets.

     14. Date of Grant. The date of grant of an Option or Stock Purchase Right shall be,
for all purposes, the date on which the Administrator makes the determination granting such Option
or Stock Purchase Right, or such other later date as is determined by the Administrator. Notice of
the determination shall be provided to each Optionee within a reasonable time after the date of
such grant.

11

 

     15. Amendment and Termination of the Plan; Shareholder Approval.

          (a) Amendment and Termination. The Board may at any time amend, alter, suspend or
terminate the Plan.

          (b) Shareholder Approval. The Company shall obtain shareholder approval of any Plan
amendment to the extent necessary and desirable to comply with Rule 16b-3 or with Section 422 of
the Code (or any successor rule or statute or other applicable law, rule or regulation, including
the requirements of any exchange or quotation system on which the Common Stock is listed or
quoted). Such shareholder approval, if required, shall be obtained in such a manner and to such a
degree as is required by the applicable law, rule or regulation.

          (c) Shareholder Approval Required at a Shareholder Meeting. Furthermore, the approval
of a majority of the shares present and entitled to vote at a duly convened meeting of shareholders
shall be required to authorize: (1) the grant of any stock option, including a stock appreciation
right, with an exercise price that is less than 100% of the fair market value of the underlying
stock on the date of grant; or (2) the reduction of the exercise price of any stock option,
including a stock appreciation right, outstanding or to be granted in the future; the cancellation
and re-grant of options at a lower exercise price (including entering into any “6 month and 1 day”
cancellation and re-grant scheme), whether or not the cancelled options are put back into the
available pool for grant; the replacement of underwater options with restricted stock in an
exchange, buy-back or other scheme; or replace any options with new options having a lower exercise
price or accelerated vesting schedule in an exchange, buy-back or other scheme. This Section 15(c)
may not be further amended or repealed without the affirmative vote of the holders of a majority of
the shares present and entitled to vote at a duly convened meeting of shareholders.

          (d) Effect of Amendment or Termination. No amendment, alteration, suspension or
termination of the Plan shall impair the rights of any Optionee, unless mutually agreed otherwise
between the Optionee and the Administrator, which agreement must be in writing and signed by the
Optionee and the Company,

     16. Conditions Upon Issuance of Shares.

          (a) Legal Compliance. Shares shall not be issued pursuant to the exercise of an
Option or Stock Purchase Right unless the exercise of such Option or Stock Purchase Right and the
issuance and delivery of such Shares shall comply with all relevant provisions of law, including,
without limitation, the Securities Act of 1933, as amended, the Exchange Act, the rules and
regulations promulgated thereunder, Applicable Laws, and the requirements of any stock exchange or
quotation system upon which the Shares may then be listed or quoted, and shall be further subject
to the approval of counsel for the Company with respect to such compliance.

          (b) Investment Representations. As a condition to the exercise of an Option or Stock
Purchase Right, the Company may require the person exercising such Option or Stock Purchase Right
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.

12

 

     17. Liability of Company.

          (a) Inability to Obtain Authority. 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.

          (b) Grants Exceeding Allotted Shares. If the Optioned Stock covered by an Option or
Stock Purchase Right exceeds, as of the date of grant, the number of Shares which may be issued
under the Plan without additional shareholder approval, such Option or Stock Purchase Right shall
be void with respect to such excess Optioned Stock, unless shareholder approval of an amendment
sufficiently increasing the number of Shares subject to the Plan is timely obtained in accordance
with Section 15(b) of the Plan.

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

     19. Withholding. The Company shall have the power to withhold, or require an Optionee
to remit to the Company, an amount sufficient to satisfy any applicable Federal, state, and local
tax withholding requirements with respect to any Options exercised or, with respect to the issuance
of any Stock Purchase Rights, the date that the shares are issued, if the Optionee makes the
election set forth in Code Section 83(b), or, if the Optionee does not make such election, then,
then with respect to the Stock Purchase Rights, as of the date that the applicable restrictions set
forth in the Restricted Stock Purchase Agreement and the Plan lapse. To the extent permissible
under applicable tax, securities and other laws, the Administrator may, in its sole discretion and
upon such terms and conditions as it may deem appropriate, permit an Optionee to satisfy his or her
obligation to pay any such tax, in whole or in part, up to an amount determined on the basis of the
highest marginal tax rate applicable to such Optionee, by (a) directing the Company to apply shares
of Common Stock to which the Optionee is entitled as a result of the exercise of an Option or as a
result of the purchase of or lapse of restrictions on the Stock Purchase Rights or (b) delivering
to the Company shares of Common Stock owned by the Optionee. The shares of Common Stock so applied
or delivered in satisfaction of the Optionee’s tax withholding obligation shall be valued at their
Fair Market Value as of the date of measurement of the amount of income subject to withholding and
shall become available for grant under the Plan.

13

 

Exhibit A

CARDIOGENESIS CORPORATION

STOCK OPTION PLAN

EXERCISE NOTICE

     1. Exercise of Option. Effective as of today,                     ,      , the undersigned
(“Purchaser”) hereby elects to purchase
                     shares (the “Shares”) of the Common Stock of
CardioGenesis Corporation (the “Company”) under and pursuant to the Stock Option Plan, as amended,
(the “Plan”) and the Stock Option Agreement incorporated into the Notice of Grant between the
Company and Purchaser with a grant date of                     ,       (collectively the “Option
Agreement”). The purchase price for the Shares shall be $                     per share, as required by the
Option Agreement, for a total of $                    .

     2. Delivery of Payment. Purchaser herewith delivers to the Company the full purchase
price for the Shares, or has entered into an agreement for a cashless exercise of the Shares, with
delivery of payment to the Company to occur prior to Purchaser’s receipt of remaining shares or
proceeds.

     3. Representations of Purchaser. Purchaser acknowledges that Purchaser has received,
read and understood the Plan and the Option Agreement and agrees to abide by and be bound by their
terms and conditions.

     4. Rights as Shareholder. Until the issuance (as evidenced by the appropriate entry
on the books of the Company or of a duly authorized transfer agent of the Company) of the stock
certificate evidencing such Shares, no right to vote or receive dividends or any other rights as a
shareholder shall exist with respect to the Optioned Stock, notwithstanding the exercise of the
Option. A share certificate for the number of Shares so acquired shall be issued to the Optionee
as soon as practicable after exercise of the Option. No adjustment will be made for a dividend or
other right for which the record date is prior to the date the stock certificate is issued, except
as provided in Section 13 of the Plan.

     5. Tax Consultation. Purchaser understands that Purchaser may suffer adverse tax
consequences as a result of Purchaser’s purchase or disposition of the Shares. Purchaser
represents that Purchaser has consulted with any tax consultants Purchaser deems advisable in
connection with the purchase or disposition of the Shares and that Purchaser is not relying on the
Company for any tax advice.

     6. Entire Agreement, Governing Law. The Plan and Option Agreement are incorporated
herein by reference. This Exercise Notice, the Plan, and the Option Agreement constitute the
entire agreement of the parties with respect to the subject matter hereof and supersede in their
entirety all prior undertakings and agreements of the Company and Purchaser with respect to the
subject matter hereof, and may not be modified adversely to the Purchaser’s or the Company’s
Interests except by means of a writing signed by the Company and Purchaser.

A-1

 

     This Exercise Notice is governed by California law except for that body of law pertaining to
conflicts of laws.

	 	 	 	 	 
	Submitted by:

	 	Accepted by:
	 	 
	 
	 	 	 	 
	PURCHASER:

	 	CARDIOGENESIS CORPORATION	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	Signature

	 	By	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	Print Name

	 	Title	 	 

A-2

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