Document:

Form of Change in Control Severance Agreement

 Exhibit 10.24 
  
 CHANGE IN CONTROL SEVERANCE AGREEMENT 
  
 THIS CHANGE IN CONTROL SEVERANCE AGREEMENT (the “Agreement”) is entered into as of
                    , 2004 (the “Effective Date”), by and between
                     (the “Executive”) and Corus Pharma, Inc., a Delaware corporation (the “Company”). 

 
 WHEREAS, the Board of Directors of the Company (the “Board”) has
determined that it is in the best interests of the Company and its stockholders to assure that the Company will have the continued dedication of the Executive notwithstanding the possibility, threat or occurrence of a Change in Control (as defined
below) of the Company; 
  
 WHEREAS, the Board believes that it is
desirable to diminish the inevitable distraction of the Executive by virtue of the personal uncertainties and risks created by a pending or threatened Change in Control and to encourage the Executive’s full attention and dedication to the
Company currently and in the event of any threatened or pending Change in Control; and 
  
 WHEREAS, the Board also believes that it is desirable to provide the Executive with compensation and benefits arrangements upon a Change in Control which ensure that the compensation and benefits expectations of the
Executive will be satisfied and which are competitive with other comparable public companies; 
  
 NOW, THEREFORE, in consideration of the premises and the respective agreements contained herein, the Executive and the Company hereby agree as follows: 
  
 1. Definitions. The following definitions shall apply for all purposes under this Agreement: 
  
 (a) Change in Control. “Change in Control” means the
occurrence of any of the following events on or after the Effective Date: 
  

	 	(i)	 The acquisition, directly or indirectly, in one or more transactions, by any individual, person or group of persons, within the meaning of Section 13(d)(3) or
14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)(a “Person”), of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of fifty percent (50%) or
more of either the then outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or the then combined voting power of the Company’s outstanding voting securities entitled to vote generally in
the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection 1(a)(i) the following acquisitions shall not constitute, or be deemed to cause, a Change in
Control of the Company: (A) any increase in such percentage ownership of such Person to fifty percent (50%) or more resulting solely from any acquisition of shares directly from the Company or any acquisition of shares by the Company, provided,
however, that any subsequent acquisitions of shares by such Person that would add, in the 

  

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aggregate, two percent (2%) or more (measured as of the date of each such subsequent acquisition) to such Person’s beneficial ownership of Outstanding
Company Common Stock or Outstanding Company Voting Securities shall be deemed to constitute a Change in Control of the Company; (B) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any
corporation controlled by the Company; or (C) any acquisition by any corporation pursuant to a transaction which complies with clauses (A), (B) and (C) of subsection 1(iii) below; 

  

	 	(ii)	Individuals who, as of the Effective Date, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board;
provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then
comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened
election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents, by or on behalf of a Person other than the Board; 

  

	 	(iii)	 Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company (a “Business
Combination”), in each case, unless, following such Business Combination, (A) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding
Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding
voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including a corporation which as a result of such transaction owns the Company or all or
substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Company Common Stock and
Outstanding Company Voting Securities, as the case may be, (B) no Person (excluding any corporation resulting from such Business Combination or any employee benefit plan (or related trust) sponsored or maintained by the Company or such corporation
resulting from such Business Combination) beneficially owns, directly or indirectly, fifty percent (50%) or more of, respectively, the then outstanding shares of common stock of the corporation resulting from such Business Combination or the
combined voting power of the then outstanding voting securities of such corporation except to the extent that such ownership 

  

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existed prior to the Business Combination, and (C) at least a majority of the members of the board of directors of the corporation resulting from such
Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination;  

  

	 	(iv)	Approval by the stockholders of the complete liquidation or dissolution of the Company; or 

  

	 	(v)	Termination of the Executive’s employment by the Company for any reason other than Just Cause, death or Total Disability or modification of the nature of the Executive’s
employment pursuant to the Employment Agreement, if any, then in effect between the Executive and the Company (the “Employment Agreement”), but only if the following conditions are satisfied: (A) a Change in Control of a kind
described in any of the foregoing clauses (i) through (iv) actually occurs within twenty-four (24) months after such termination or modification of employment and (B) the Executive reasonably demonstrates that such termination or modification of
employment (x) was carried out by the Company at the express request of a third party who has taken steps reasonably calculated to effect such a Change in Control, (y) was required by an agreement to which the Company is a party and which would
result in a Change in Control or (z) otherwise arose in connection with or in anticipation of a Change in Control. (For purposes of this Agreement, a Change in Control pursuant to this clause (v) shall be deemed to have occurred immediately prior to
such termination or modification of the Executive’s employment.) 

  
 (b) Just Cause. “Just Cause” shall mean any of the following committed by Executive (or omitted to be done by Executive) that occur on or after the Effective Date: 
  

	 	(i)	Material breach of this Agreement or the Employment Agreement; 

  

	 	(ii)	A conviction of or plea of “guilty” or “no contest” to a felony under the laws of the United States or any state thereof; or 

  

	 	(iii)	Any material violation or breach of the Company’s Code of Business Conduct and Ethics. 

  
 (c) Total Disability. “Total Disability” shall be deemed to occur on the ninetieth (90th)
consecutive or non-consecutive calendar day within any twelve (12) month period that the Executive is unable to perform the duties commensurate with the Executive’s position with the Company or as set forth in the Employment Agreement, if any,
because of any physical or mental illness or disability. 
  
 (d)
Good Reason. “Good Reason” shall mean that the Executive (without the Executive’s written consent): 
  

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	 	(i)	Has incurred a reduction in his or her authority or responsibility in comparison to the Executive’s authority or responsibility immediately prior to a Change in Control or, if
applicable, a Potential Change in Control (as defined in subsection 5(a) ); 

  

	 	(ii)	Has incurred one or more reductions in his or her (A) annualized base salary as in effect immediately prior to a Change in Control or, if applicable, a Potential Change in Control
or (B) target annual bonus as in effect immediately prior to a Change in Control or, if applicable, Potential Change in Control (provided, however, that a reduction in the Executive’s base salary or bonus percentage which is part of
across-the-board salary or bonus reductions similarly affecting all executives of the Company and its subsidiaries and all executives of any Person in control of the Company shall not constitute “Good Reason” pursuant to this subsection
1(d)(ii)); or 

  

	 	(iii)	Has been notified that his or her principal place of work will be relocated by a distance of 50 miles or more from what was the location of his/her work place immediately prior to a
Change in Control or, if applicable, a Potential Change in Control. 

  
 In addition, “Good Reason” shall mean any failure by the Company to comply with and satisfy the second sentence of subsection 4(a). 
  
 For purposes of this Agreement, “Affiliate” and “control” shall have the respective meanings assigned to such terms in Rule 12b-2 promulgated under
the Exchange Act. 
  
 2. Severance Payment and Equity Compensation.

  
 (a) Eligibility for Severance Payment. The Executive
shall be entitled to receive a severance payment from the Company (the “Severance Payment”) if within the first twenty-four (24) month period after the first occurrence of a Change in Control, either: 
  

	 	(i)	The Executive resigns his or her employment with the Company for Good Reason within sixty (60) calendar days after the later of the date: (x) that Executive becomes aware of the
occurrence of an event specified in subsection 1(d) which constitutes Good Reason or (y) of the Change in Control; or 

  

	 	(ii)	The Company terminates the Executive’s employment with the Company for any reason other than Just Cause, death or Total Disability. 

  
 (b) Amount of Severance Payment. For all purposes under this
Agreement, the amount of the Severance Payment shall be equal to 1.0 times [two times for CEO] the sum of: 
  

	 	(i)	 the greater of the Executive’s annual salary (A) as in effect on the date of the termination of Executive’s employment, (B) as in effect as of the first
occurrence of the Change in Control or, if applicable, the Potential Change in Control (as defined in 

  

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subsection 5(a)) or (C) actually paid to the Executive with respect to the Company’s most recent fiscal year prior to the Change in Control,
plus 

  

	 	(ii)	the greater of the maximum amount of Executive’s annual target incentive bonus (A) as in effect on the date of the termination of Executive’s employment, or (B) as in
effect as of the first occurrence of the Change in Control or, if applicable, the Potential Change in Control without regard to whether the underlying performance criteria for receipt of such bonus are actually achieved by the Executive or the
Company. 

  
 (c) Payment of Severance
Payment. The Severance Payment shall be made to Executive in a single lump sum cash payment not later than thirty (30) calendar days following the date that the Executive becomes entitled to a Severance Payment. In addition to the Severance
Payment, Executive will also receive a cash payment for:  
  

	 	(i)	any accrued and unpaid salary and/or bonuses earned through the date of termination,  

  

	 	(ii)	a pro-rated portion of Executive’s target bonus for the fiscal year of termination of employment, and  

  

	 	(iii)	any earned, unused vacation.  

  
 Any accrued payroll deductions made by Executive under a Company employee stock purchase plan, if any, will also be paid to Executive without interest. Except as
otherwise may be provided pursuant to subsections 2(d) and 2(e), the payments in this subsection 2(c) shall be in lieu of any other post-termination of employment payments (including payments that would otherwise be made pursuant to the Employment
Agreement unless otherwise expressly provided in such Employment Agreement). 
  
 (d) Incentive, Deferred Compensation and Retirement Programs. If the Executive is entitled to a Severance Payment under Subsection 2(a) and notwithstanding anything to the contrary in any stock option or stock
appreciation right (“SAR”) or deferred compensation plan or retirement plan or agreements, then the Executive shall become immediately fully vested in: 
  

	 	(i)	all outstanding stock options, SARs, warrants, restricted stock, phantom stock, and 

  

	 	(ii)	accrued deferred compensation, accrued service award benefits, accrued retirement benefits or similar plans or agreements of the Company. 

  
 To the extent permitted by applicable law, any service award benefits, supplemental
retirement benefits and deferred compensation shall be fully funded on an irrevocable basis within thirty (30) days after the Change in Control and paid out to the Executive in a cash lump sum at the same time that the Severance Payment is scheduled
to be paid. 
  
 (e) Health Coverage. If the Executive is
entitled to a Severance Payment under subsection 2(a), the Company shall reimburse the Executive for the full cost of any group health 

  

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continuation coverage that the Company is otherwise required to offer under the Consolidated Omnibus Budget Reconciliation Act of 1986 (“COBRA”)
until the earlier of the date that 
  

	 	(i)	the Executive becomes covered by comparable health coverage offered by another employer, or 

  

	 	(ii)	is twelve (12) [twenty-four (24) for CEO] months after the date upon which the Executive becomes entitled to a Severance Payment under Subsection 2(a).

  
 (f) Mitigation. Except as may be
expressly provided elsewhere in this Agreement, the Executive shall not be required to mitigate the amount of any payment or benefit contemplated by this Section 2 (whether by seeking new employment or in any other manner). No such payment shall be
reduced by earnings that the Executive may receive from any other source. 
  
 (g) Conditions. All payments and benefits provided under this Section 2 are conditioned on Executive’s continuing compliance with this Agreement and the Employment Agreement and the Company’s policies
and Executive’s execution (and effectiveness) of a release of claims and covenant not to sue substantially in the form provided in Exhibit A upon termination of employment. 
  
 3. Tax Effect of Payments. 
  
 (a) Excise Taxes. If it is determined that any payment or distribution of any type to or for Executive’s benefit made by the Company,
by any of its affiliates, by any person who acquires ownership or effective control or ownership of a substantial portion of the Company’s assets (within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended, and the
regulations thereunder (the “Code”)) or by any affiliate of such person, whether paid or payable or distributed or distributable pursuant to the terms of an employment agreement or otherwise (the “Total Payments”), would be
subject to the excise tax imposed by section 4999 of the Code or any interest or penalties with respect to such excise tax (such excise tax, together with any such interest or penalties, are collectively referred to as the “Excise Tax”),
then the Executive shall be entitled to receive an additional payment (an “Excise Tax Restoration Payment”) in an amount that shall fund the payment by the Executive of any Excise Tax on the Total Payments as well as all income taxes
imposed on the Excise Tax Restoration Payment, any Excise Tax imposed on the Excise Tax Restoration Payment and any interest or penalties imposed with respect to taxes on the Excise Tax Restoration Payment or any Excise Tax. The Excise Tax
Restoration Payment shall be calculated applying the then highest marginal tax rates. 
  
 (b) Determination by Auditors. All mathematical determinations and all determinations of whether any of the Total Payments are “parachute payments” (within the meaning of section 280G of the Code)
that are required to be made under this Section 3, shall be made by the independent auditors retained by the Company most recently prior to the Change in Control (the “Auditors”), who shall provide their determination (the
“Determination”), together with detailed supporting calculations regarding the amount of any relevant matters, both to the Company and to the Executive within thirty (30) days of the Executive’s termination date, if applicable,
or such earlier time as is requested by the Company or by the Executive. The Auditors shall furnish the Executive with a written statement that such Auditors have concluded that no Excise Tax is 

  

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payable (including the reasons therefor) and that the Executive has substantial authority not to report any Excise Tax on the Executive’s federal income
tax return. Any determination by the Auditors shall be binding upon the Company and the Executive, absent manifest error. The Company shall pay the fees and costs of the Accountants. 
  
 4. Successors. 
  
 (a) Company’s Successors. This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. Any
successor (whether direct or indirect and whether by purchase, lease, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets, shall be obligated to perform this Agreement, and the
Company shall require any such successor to assume expressly and agree to perform this Agreement, in the same manner and to the same extent as the Company would be required to perform it in the absence of a succession. As used in this Agreement,
“Company” shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law, contract or otherwise. 
  
 (b) Executive’s Successors. This Agreement and all rights of the
Executive hereunder shall inure to the benefit of, and be enforceable by, the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 
  
 5. Miscellaneous Provisions. 
  
 (a) Potential Change in Control. Subject to the terms and conditions
of this Agreement, in the event of a Potential Change in Control, the Executive will remain in the employ of the Company or its subsidiaries during the pendency of any such Potential Change in Control and for a period of one (1) year after the
actual occurrence of a Change in Control, unless the Executive’s employment is terminated by the Executive for Good Reason or is terminated by the Company. The Executive further acknowledges that nothing in this Agreement shall confer upon the
Executive any right to continue in the employ of the Company (or its subsidiaries) prior to a Change in Control or shall interfere with or restrict in any way the rights of the Company (or its subsidiaries), which are hereby expressly reserved, with
respect to modifying or discharging the Executive’s employment at any time prior to a Change in Control. For purposes of this Agreement, a “Potential Change in Control” shall occur if (i) the Company enters into an agreement,
the consummation of which would result in the occurrence of a Change in Control or (ii) any Person (including the Company) publicly announces an intention to take or to consider taking actions which if consummated would constitute a Change in
Control. 
  
 (b) Notice. Notices and all other
communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. In the case of
the Executive, mailed notices shall be addressed to him or her at the home address which he or she most recently communicated to the Company in writing. In the case of the Company, mailed notices shall be addressed to Corus Pharma, Inc., 2025 1st
Avenue, Suite 800, Seattle, WA 98121, and all notices shall be directed to the attention of its Corporate Secretary. 
  

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 (c) Amendment; Waiver; Remedies. No provision of this Agreement may be amended, modified, waived
or discharged unless the amendment, modification, waiver or discharge is agreed to in writing and signed by the Executive (or the Executive’s personal or legal representative(s), executor(s), administrator(s), successor(s), heir(s),
distributee(s), devisee(s) and legatee(s)) and by two authorized officers of the Company (other than the Executive). No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party
shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. The Executive’s or the Company’s failure to insist upon strict compliance with any provision of this Agreement or the
failure to assert any right of the Executive or the Company may have hereunder, including the right of the Executive to terminate employment for Good Reason pursuant to subsection 2(a) and thereby become entitled to receive a Severance Payment,
shall not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement. The rights and remedies of the parties to this Agreement are cumulative and not alternative of any other remedy conferred hereby or by
law or equity, and the exercise of any remedy will not preclude the exercise of any other. 
  
 (d) Entire Agreement. This Agreement contains all the legally binding understandings and agreements between the Executive and the Company pertaining to the subject matter of this Agreement and supersedes all
such agreements, whether oral or in writing, previously entered into between the parties. In the event of any inconsistency, conflict or ambiguity as to the rights and obligations of the parties under this Agreement and the Employment Agreement, the
terms of this Agreement shall control unless otherwise expressly provided in such Employment Agreement. 
  
 (e) Withholding Taxes. All payments made under this Agreement shall be subject to reduction to reflect taxes required to be withheld by law.

  
 (f) Choice of Law. The validity, interpretation,
construction and performance of this Agreement shall be governed by the laws of the State of Washington without regard to the conflicts of laws principles thereof. 
  
 (g) Severability. The invalidity or unenforceability of any provision or provisions of this Agreement shall not
affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect. 
  
 (h) Arbitration. Any dispute, controversy or claim between the parties arising out of or relating to this Agreement (or any subsequent amendments
thereof or waivers thereto), including as to its existence, enforceability, validity, interpretation, performance, breach or damages, shall be settled by binding arbitration in Seattle, Washington in accordance with the Commercial Arbitration Rules,
as then amended and in effect, of the American Arbitration Association. Discovery shall be permitted to the same extent as in a proceeding under the Federal Rules of Civil Procedure. All proceedings and documents prepared in connection with any
arbitration under this Agreement shall constitute confidential information and, unless otherwise required by law, the contents or the subject matter thereof shall not be disclosed to any Person other than the parties to the proceedings, their
counsel, witnesses and experts, the arbitrator, and, if court enforcement of the award is sought, the court and court staff hearing such matter. At the arbitration hearing, each party may make written and oral presentations to the arbitrator,
present testimony and written evidence and examine witnesses. Judgment on the award rendered by the arbitrator may be entered 

  

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in any court having jurisdiction thereof. The arbitrator’s decision shall be in writing, shall be binding and final and may be entered and enforced in
any court of competent jurisdiction. No party shall be eligible to receive, and the arbitrator shall not have the power to award, exemplary or punitive damages. All fees and expenses of the arbitrator and such Association and attorney fees shall be
paid by the Company. 
  
 (i) No Assignment. The Company may
not assign its rights and obligations under this Agreement, unless such assignment is made in compliance with the second sentence of subsection 4(a). This Agreement may not be assigned by the Executive otherwise than by will or the laws of descent
and distribution. Without limiting the foregoing, the rights of the Executive to payments or benefits under this Agreement shall not be made subject to option or assignment, either by voluntary or involuntary assignment or by operation of law,
including bankruptcy, garnishment, attachment or other creditor’s process, and any action in violation of this subsection 5(i) shall be void. 
  
 (j) Late Payment. Any payments or benefits under this Agreement that are not timely provided to the Executive shall be subject to the accumulation
of interest at an annual rate of interest equal to the sum of the then composite prime rate (as published in The Wall Street Journal) plus one percent. The accrued interest shall be paid to Executive in cash along with the late payment. 

 
 (k) Interpretation. When a reference is made in this Agreement to
Sections, subsections or clauses, such references shall be to a Section, subsection or clause of this Agreement, unless otherwise indicated. The words “herein” and “hereof” mean, except where a specific Section, subsection or
clause reference is expressly indicated, the entire Agreement rather than any specific Section, subsection or clause. The words “include,” “includes” and “including” when used in this Agreement shall be deemed to in
each case to be followed by the words “without limitation.” The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 
  
 (l) Counterparts. This Agreement may be executed in one or more
counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement. 
  
 6. Term of Agreement. This Agreement shall continue in effect until the Company shall
have given the Executive two (2) years’ written notice of cancellation; provided, however, that, notwithstanding the delivery of any such notice, this Agreement shall continue in effect for a period of two (2) years after a Change in
Control, if such Change in Control shall have occurred during the term of this Agreement. Except as provided in subsection 1(a)(v), this Agreement shall terminate if, prior to a Change in Control, the Executive’s employment is terminated.

  

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 IN WITNESS WHEREOF, each of the parties has executed this Agreement as of the day and year first above
written. 
  

	
	EXECUTIVE
	
	 
	[Name]
	
	CORUS PHARMA, INC.
	
	 
	By:
	Its:

  

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 EXHIBIT A 
  
 Form of Release of Claims and Covenant Not To Sue 
  
 In consideration of the payments and other benefits that Corus Pharma, Inc., a Delaware corporation (the “Company”), is providing to
                     (“Executive”) under the Change in Control Severance Agreement entered into by and between Executive and the
Company, dated as of             ,             , the Executive, on his/her own behalf and on behalf of Employee’s
representatives, agents, heirs and assigns, waives, releases, discharges and promises never to assert any and all claims, demands, actions, costs, rights, liabilities, damages or obligations of every kind and nature, whether known or unknown,
suspected or unsuspected that Executive ever had, now have or might have as of the date of Executive’s termination of employment with the Company against the Company or its predecessors, parent, affiliates, subsidiaries, stockholders, owners,
directors, officers, employees, agents, attorneys, insurers, successors, or assigns (including all such persons or entities that have a current and/or former relationship with the Company) for any claims arising from or related to Executive’s
employment with the Company, its parent or any of its affiliates and subsidiaries and the termination of that employment. 
  
 These released claims also specifically include, but are not limited to, any claims arising under any federal, state and local statutory or common law, such as (as
amended and as applicable) Title VII of the Civil Rights Act, the Age Discrimination in Employment Act, the Americans With Disabilities Act, the Employee Retirement Income Security Act, the Family Medical Leave Act, the Equal Pay Act, the Fair Labor
Standards Act, the Industrial Welfare Commission’s Orders, and any other federal, state or local constitution, law, regulation or ordinance governing the terms and conditions of employment or the termination of employment, and the law of
contract and tort and any claim for attorneys’ fees. 
  
 Furthermore, the
Executive acknowledges that this waiver and release is knowing and voluntary and that the consideration given for this waiver and release is in addition to anything of value to which Executive was already entitled. Executive acknowledges that there
may exist facts or claims in addition to or different from those which are now known or believed by Executive to exist. Nonetheless, this Agreement extends to all claims of every nature and kind whatsoever, whether known or unknown, suspected or
unsuspected, past or present. 
  
 [FOR EXECUTIVES AGE 40 OR OLDER The Executive
further acknowledges that he/she has been advised by this writing that: 
  

	 	•	he/she should consult with an attorney prior to executing this release; 

  

	 	•	he/she has at least twenty-one (21) days within which to consider this release; 

  

	 	•	he/she has up to seven (7) days following the execution of this release by the parties to revoke the release; and 

  

	 	•	this release shall not be effective until such seven (7) day revocation period has expired.] 

  

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 Executive agrees that the release set forth above shall be and remain in effect in all respects as a complete general
release as to the matters released. 
  

	
	EXECUTIVE
	
	  
	[Name]
	Date:

  

 22001 Stock Plan, as amended

 Exhibit 4.1 
  

NOVOSTE CORPORATION 
  
 AMENDED AND RESTATED 2001 STOCK PLAN 
  
 Section 1.    Purpose. 
  
 The purpose of the Plan is to promote the interests of the Company and its shareholders by aiding the Company in attracting and retaining
employees, officers, consultants, independent contractors and non-employee directors capable of contributing to the future success of the Company, to offer such persons incentives to put forth maximum efforts for the success of the Company’s
business and to afford such persons an opportunity to acquire a proprietary interest in the Company. 
  
 Section 2.    Definitions. 
  
 As used in the Plan, the following terms shall have the meanings set forth below: 
  
 (a)    “Affiliate” shall mean (i) any person or entity that, directly or indirectly through one or more intermediaries, is
controlled by the Company and (ii) any person or entity in which the Company has a significant equity interest, in each case as determined by the Committee. 
  
 (b)    “Award” shall mean any Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Performance Award,
Other Stock Grant or Other Stock-Based Award granted under the Plan. 
  
 (c)    “Award Agreement” shall mean any written agreement, contract or other instrument or document evidencing any Award granted under the Plan. 
  
 (d)    “Board” shall mean the Board of Directors of the Company. 
  
 (e)    “Code” shall mean the Internal Revenue
Code of 1986, as amended from time to time, and any regulations promulgated thereunder. 
  
 (f)    “Committee” shall mean a committee of Directors designated by the Board to administer the Plan. The Committee shall be comprised of not less than such number of Directors as shall
be required to permit Awards granted under the Plan to qualify under Rule 16b-3, and each member of the Committee shall be a “Non-Employee Director” within the meaning of Rule 16b-3 and an “outside director” within the meaning of
Section 162(m) of the Code. The Company expects to have the Plan administered in accordance with the requirements for the award of “qualified performance-based compensation” within the meaning of Section 162(m) of the Code. 
  
 (g)    “Company” shall mean Novoste
Corporation, a Florida corporation, and any successor corporation. 
  
 (h)    “Director” shall mean a member of the Board. 
  
 (i)    “Eligible Person” shall mean any employee, officer, consultant, independent contractor or Director providing services to the Company or any Affiliate whom the Committee determines
to be an Eligible Person. 
  
 (j)    “Fair Market Value” shall mean, with respect to any property (including, without limitation, any Shares or other securities), the fair market value of such property determined by such methods or
procedures as shall be established from time to time by the Committee. Notwithstanding the foregoing, unless otherwise determined by the Committee, the Fair Market Value of Shares as of a given date shall be, if the Shares are then quoted on The
Nasdaq Stock Market, the closing sales price on the immediately preceding trading date as reported on The Nasdaq Stock Market; provided, however, that if no closing sale price shall have been made within ten business 

  

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days preceding such relevant date, or if deemed appropriate by the Committee for any reason, the Fair Market Value of such Shares shall be determined by the
Committee. In no event shall the Fair Market Value of any Share be less than its par value. 
  
 (k)    “Incentive Stock Option” shall mean an option granted under Section 6(a) of the Plan that is intended to meet the requirements of Section 422 of the Code or any successor
provision. 
  
 (l)    “Non-Qualified
Stock Option” shall mean an option granted under Section 6(a) of the Plan that is not intended to be an Incentive Stock Option. 
  
 (m)    “Option” shall mean an Incentive Stock Option or a Non-Qualified Stock Option, and shall include Reload Options.

  
 (n)    “Other Stock Grant” shall
mean any right granted under Section 6(e) of the Plan. 
  
 (o)    “Other Stock-Based Award” shall mean any right granted under Section (f) of the Plan. 
  
 (p)    “Participant” shall mean an Eligible Person designated to be granted an Award under the Plan. 
  
 (q)    “Performance Award” shall mean any right
granted under Section 6(d) of the Plan. 
  
 (r)    “Person” shall mean any individual, corporation, partnership, association or trust. 
  
 (s)    “Plan” shall mean the Novoste Corporation Amended and Restated 2001 Stock Plan, as amended from time to time, the
provisions of which are set forth herein. 
  
 (t)    “Reload Option” shall mean any Option granted under Section 6(a)(iv) of the Plan. 
  
 (u)    “Restricted Stock” shall mean any Shares granted under Section 6(c) of the Plan. 
  
 (v)    “Restricted Stock Unit” shall mean any
unit granted under Section 6(c) of the Plan evidencing the right to receive a Share (or a cash payment equal to the Fair Market Value of a Share) at some future date. 
  
 (w)    “Rule 16b-3” shall mean Rule 16b-3 promulgated by the Securities and Exchange
Commission under the Securities Exchange Act of 1934, as amended, or any successor rule or regulation. 
  
 (x)    “Shares” shall mean shares of Common Stock, $.01 par value per share, of the Company or such other securities or
property as may become subject to Awards pursuant to an adjustment made under Section 4(c) of the Plan. 
  
 (y)    “Stock Appreciation Right” shall mean any right granted under Section 6(b) of the Plan. 
  
 Section 3.    Administration. 
  
 (a)    Power and Authority of the
Committee.    The Plan shall be administered by the Committee. Subject to the express provisions of the Plan and to applicable law, the Committee shall have full power and authority to: (i) designate Participants; (ii)
determine the type or types of Awards to be granted to each Participant under the Plan; (iii) determine the number of Shares to be covered by (or with respect to which payments, rights or other matters are to be calculated in connection with) each
Award; (iv) determine the terms and conditions of any Award or Award Agreement; (v) amend the terms and conditions of any Award or Award Agreement and accelerate the exercisability of Options or the lapse of restrictions relating to Restricted
Stock, Restricted Stock Units or other Awards; (vi) determine whether, to what extent and under what circumstances Awards may be exercised in cash, Shares, other securities, other Awards or other property, or canceled, forfeited or suspended; (vii)
determine whether, to what extent and under what circumstances cash, Shares, promissory notes, other 

  

 2 

 
securities, other Awards, other property and other amounts payable with respect to an Award under the Plan shall be deferred either automatically or at the
election of the holder thereof or the Committee; (viii) interpret and administer the Plan and any instrument or agreement, including an Award Agreement, relating to the Plan; (ix) establish, amend, suspend or waive such rules and regulations
and appoint such agents as it shall deem appropriate for the proper administration of the Plan; and (x) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan. Unless
otherwise expressly provided in the Plan, all designations, determinations, interpretations and other decisions under or with respect to the Plan or any Award shall be within the sole discretion of the Committee, may be made at any time and shall be
final, conclusive and binding upon any Participant, any holder or beneficiary of any Award and any employee of the Company or any Affiliate. 
  
 (b)    Delegation.    The Committee may delegate its powers and duties under the Plan to one or more
Directors or a committee of Directors, subject to such terms, conditions and limitations as the Committee may establish in its sole discretion. 
  
 (c)    Power and Authority of the Board of Directors.    Notwithstanding anything to the contrary contained
herein, the Board may, at any time and from time to time, without any further action of the Committee, exercise the powers and duties of the Committee under the Plan. 
  
 Section 4.    Shares Available for Awards. 
  
 (a)    Shares Available.    Subject to adjustment as provided in Section 4(c)
of the Plan, the aggregate number of Shares that may be issued under all Awards under the Plan shall be 2,250,000 and shall be subject to adjustment as provided herein and subject to the provisions of Section 422 or 424 of the Code or any successor
provision. A maximum of 10% of the total number of Shares authorized shall be available for Awards other than options. Shares to be issued under the Plan may be either authorized but unissued Shares or Shares acquired in the open market or
otherwise. Any Shares that are used by a Participant as full or partial payment to the Company of the purchase price relating to an Award, or in connection with the satisfaction of tax obligations relating to an Award, shall again be available for
granting Awards (other than Incentive Stock Options) under the Plan. In addition, if any Shares covered by an Award or to which an Award relates are not purchased or are forfeited, or if an Award otherwise terminates without delivery of any Shares,
then the number of Shares counted against the aggregate number of Shares available under the Plan with respect to such Award, to the extent of any such forfeiture or termination, shall again be available for granting Awards under the Plan.

  
 (b)    Accounting for
Awards.    For purposes of this Section 4, if an Award entitles the holder thereof to receive or purchase Shares, the number of Shares covered by such Award or to which such Award relates shall be counted on the date of grant
of such Award against the aggregate number of Shares available for granting Awards under the Plan. 
  
 (c)    Adjustments.    In the event that the Committee shall determine that any dividend or other
distribution (whether in the form of cash, Shares, other securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, issuance of warrants or other rights
to purchase Shares or other securities of the Company to all holders of common stock pro rata whether as a dividend or otherwise or other similar corporate transaction or event affects the Shares such that an adjustment is determined by the
Committee to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Committee shall, in such manner as it may deem equitable, adjust any or all of (i)
the number and type of Shares (or other securities or other property) that thereafter may be made the subject of Awards, (ii) the number and type of Shares (or other securities or other property) subject to outstanding Awards and (iii) the purchase
or exercise price with respect to any Award; provided, however, that the number of Shares covered by any Award or to which such Award relates shall always be a whole number. 
  

 3 

 (d)    Award Limitations Under the Plan.    No Eligible
Person may be granted any Award or Awards under the Plan, the value of which Award or Awards is based solely on an increase in the value of the Shares after the date of grant of such Award or Awards, for more than 400,000 Shares (subject to
adjustment as provided for in Section (c) of the Plan), in the aggregate in any calendar year. The foregoing annual limitation specifically includes the grant of any Award or Awards representing “qualified performance-based compensation”
within the meaning of Section 162(m) of the Code. 
  
 Section
5.    Eligibility. 
  
 Any Eligible
Person shall be eligible to be designated a Participant. In determining which Eligible Persons shall receive an Award and the terms of any Award, the Committee may take into account the nature of the services rendered by the respective Eligible
Persons, their present and potential contributions to the success of the Company or such other factors as the Committee, in its discretion, shall deem relevant. Notwithstanding the foregoing, an Incentive Stock Option may only be granted to full or
part-time employees (which term as used herein includes, without limitation, officers and Directors who are also employees), and an Incentive Stock Option shall not be granted to an employee of an Affiliate unless such Affiliate is also a
“subsidiary corporation” of the Company within the meaning of Section 424(f) of the Code or any successor provision. 
  
 Section 6.    Awards. 
  
 (a)    Options.    The Committee is hereby authorized to grant Options to participants with the following
terms and conditions and with such additional terms and conditions not inconsistent with the provisions of the Plan as the Committee shall determine: 
  
 (i)    Exercise Price.    The purchase price per Share purchasable under an Option shall be
determined by the Committee, in its discretion; provided, however, that such purchase price shall be the Fair Market Value of a Share on the date of grant of such Option. 
  
 (ii)    Option Term.    The term of each Option shall be
fixed by the Committee. 
  
 (iii)    Time and Method of Exercise.    The Committee shall determine the time or times at which an Option may be exercised in whole or in part and the method or methods by which, and the form
or forms (including, without limitation, cash, Shares, promissory notes, other securities, other Awards or other property, or any combination thereof, having a Fair Market Value on the exercise date equal to the relevant exercise price) in which,
payment of the exercise price with respect thereto may be made or deemed to have been made; provided however, no Shares may be surrendered in payment of the exercise price if originally issued to the Participant upon exercise of an option
within six months of the date of the current exercise. 
  
 (iv)    Reload Options.    The Committee may grant Reload Options, separately or together with another Option, pursuant to which, subject to the terms and conditions established by the
Committee, the Participant would be granted a new Option when the payment of the exercise price of a previously granted option is made by the delivery of Shares owned by the Participant pursuant to Section 6(a)(iii) of the Plan or the relevant
provisions of another plan of the Company, and/or when Shares are tendered or withheld as payment of the amount to be withheld under applicable income tax laws in connection with the exercise of an Option, which new Option would be an Option to
purchase the number of Shares not exceeding the sum of (A) the number of Shares so provided as consideration upon the exercise of the previously granted option to which such Reload Option relates and (B) the number of Shares, if any, tendered or
withheld as payment of the amount to be withheld under applicable tax laws in connection with the exercise of the option to which such Reload Option relates pursuant to the relevant provisions of the plan or agreement relating to such option. Reload
Options may be granted with respect to Options previously granted under the Plan or any other stock option plan of the Company or may be granted in connection with any Option granted under the Plan or any other stock option plan of the Company at
the time of such grant. Such Reload Options shall have a per share exercise price as determined by the Committee in the grant of such Option. Any Reload Option shall be subject to availability of sufficient Shares for grant under the Plan.

  

 4 

 (b)    Stock Appreciation Rights.    The Committee is
hereby authorized to grant Stock Appreciation Rights to Participants subject to the terms of the Plan and any applicable Award Agreement. A Stock Appreciation Right granted under the Plan shall confer on the holder thereof a right to receive upon
exercise thereof the excess of (i) the Fair Market Value of one Share on the date of exercise (or, if the Committee shall so determine, at any time during a specified period before or after the date of exercise) over (ii) the grant price of the
Stock Appreciation Right as specified by the Committee, in the grant of the Stock Appreciation Right. Subject to the terms of the Plan and any applicable Award Agreement, the grant price, term, methods of exercise, dates of exercise, methods of
settlement and any other terms and conditions of any Stock Appreciation Right shall be as determined by the Committee. The Committee may impose such conditions or restrictions on the exercise of any Stock Appreciation Right as it may deem
appropriate. 
  
 (c)    Restricted Stock
and Restricted Stock Units.    The Committee is hereby authorized to grant Restricted Stock and Restricted Stock Units to Participants with the following terms and conditions and with such additional terms and conditions not
inconsistent with the provisions of the Plan as the Committee shall determine: 
  
 (i)    Restrictions.    Shares of Restricted Stock and Restricted Stock Units shall be
subject to such restrictions as the Committee may impose (including, without limitation, a waiver by the Participant of the right to vote or to receive any dividend or other right or property with respect thereto), which restrictions may lapse
separately or in combination at such time or times, in such installments or otherwise as the Committee may deem appropriate. 
  
 (ii)    Stock Certificates.    Any Restricted Stock granted under the Plan shall be
registered in the name of the Participant and shall bear an appropriate legend referring to the terms, conditions and restrictions applicable to such Restricted Stock. In the case of Restricted Stock Units, no Shares shall be issued at the time such
Awards are granted. 
  
 (iii)    Forfeiture.    Except as otherwise determined by the Committee, upon termination of employment (as determined under criteria established by the Committee) during the applicable
restriction period, all Shares of Restricted Stock and all Restricted Stock Units at such time subject to restriction shall be forfeited and reacquired by the Company; provided, however, that the Committee may, when it finds that a waiver
would be in the best interest of the Company, waive in whole or in part any or all remaining restrictions with respect to Shares of Restricted Stock or Restricted Stock Units. Upon the lapse or waiver of restrictions and the restricted period
relating to Restricted Stock Units evidencing the right to receive Shares, such Shares shall be issued and delivered to the holders of the Restricted Stock Units. 
  
 (d)    Performance Awards.    The Committee is hereby authorized to grant
Performance Awards to Participants subject to the terms of the Plan and any applicable Award Agreement. A Performance Award granted under the Plan (i) may be denominated or payable in cash, Shares (including, without limitation, Restricted Stock and
Restricted Stock Units), other securities, other Awards or other property and (ii) shall confer on the holder thereof the right to receive payments, in whole or in part, upon the achievement of such performance goals during such performance periods
as the Committee shall establish. Subject to the terms of the Plan and any applicable Award Agreement, the performance goals to be achieved during any performance period, the length of any performance period, the amount of any Performance Award
granted, the amount of any payment or transfer to be made pursuant to any Performance Award and any other terms and conditions of any Performance Award shall be determined by the Committee. 
  
 (e)    Other Stock
Grants.    The Committee is hereby authorized, subject to the terms of the Plan and any applicable Award Agreement, to grant to Participants Shares without restrictions thereon as are deemed by the Committee to be consistent
with the purpose of the Plan. 
  
 (f)    Other Stock-Based Awards.    The Committee is hereby authorized to grant to Participants subject to the terms of the Plan and any applicable Award Agreement, such other Awards
that are denominated or payable in, valued in whole or in part by reference to, or otherwise based on or related to, Shares (including, without limitation, securities convertible into Shares), as are deemed by the Committee to be consistent with the
purpose of the Plan. Shares or other securities delivered pursuant to a purchase right granted under this Section 6(f) shall 

  

 5 

 
be purchased for such consideration, which may be paid by such method or methods and in such form or forms (including, without limitation, cash, Shares,
promissory notes, other securities, other Awards or other property or any combination thereof), as the Committee shall determine in connection with such Award. 
  

(g)    General. 
  
 (i)    No Cash Consideration for Awards.    Awards shall be granted for no cash
consideration or for such minimal cash consideration as may be required by applicable law. 
  
 (ii)    Awards May Be Granted Separately or Together.    Awards may, in the discretion of
the Committee, be granted either alone or in addition to, in tandem with or in substitution for any other Award or any award granted under any plan of the Company or any Affiliate other than the Plan. Awards granted in addition to or in tandem with
other Awards or in addition to or in tandem with awards granted under any such other plan of the Company or any Affiliate may be granted either at the same time as or at a different time from the grant of such other Awards or awards. 
  
 (iii)    Forms of Payment under
Awards.    Subject to the terms of the Plan and of any applicable Award Agreement, payments or transfers to be made by the Company or an Affiliate upon the grant, exercise or payment of an Award may be made in such form or
forms as the Committee shall determine (including, without limitation, cash, Shares, promissory notes, other securities, other Awards or other property or any combination thereof), and may be made in a single pay mentor transfer, in installments or
on a deferred basis, in each case in accordance with rules and procedures established by the Committee. Such rules and procedures may include, without limitation, provisions for the payment or crediting of reasonable interest on installment or
deferred payments or the grant or crediting of dividend equivalents with respect to installment or deferred payments. 
  
 (iv)    Limits on Transfer of Awards.    No Award (other than Other Stock Grants) and no
right under any such Award shall be transferable by a Participant otherwise than by will or by the laws of descent and distribution; provided, however, that, if so determined by the Committee, a Participant may, in the manner established by
the Committee, (a) transfer Awards (other than Incentive Stock Options) to family members by gift, (b) transfer any Award by domestic order to a family member or (c) designate a beneficiary or beneficiaries to exercise the rights of the Participant
and receive any property distributable with respect to any Award upon the death of the Participant. Each Award or right under any Award shall be exercisable during the Participant’s lifetime only by the Participant or, if permissible under
applicable law, by the Participant’s guardian or legal representative. No Award or right under any such Award may be pledged, alienated, attached or otherwise encumbered, and any purported pledge, alienation, attachment or encumbrance thereof
shall be void and unenforceable against the Company or any Affiliate. 
  
 (v)    Terms of Awards.    The term of each Award shall be for such period as may be determined by the Committee. 
  
 (vi)    Restrictions; Securities
Exchange Listing.    All Shares or other securities delivered under the Plan pursuant to any Award or the exercise thereof shall be subject to such restrictions as the Committee may deem advisable under the Plan, applicable
federal or state securities laws and regulatory requirements, and the Committee may cause appropriate entries to be made or legends to be affixed to reflect such restrictions. If any securities of the Company are traded on a securities exchange, the
Company shall not be required to deliver any Shares or other securities covered by an Award unless and until such Shares or other securities have been admitted for trading on such securities exchange. 
  

 6 

 Section 7.    Amendment and Termination; Adjustments. 
  
 (a)    Amendments to the
Plan.    The Committee may amend, alter, suspend, discontinue or terminate the Plan at any time; provided, however, that, notwithstanding any other provision of the Plan or any Award Agreement, without the approval of the
shareholders of the Company, no such amendment, alteration, suspension, discontinuation or termination shall be made that, absent such approval: 
  

	 	(i)	would violate the rules or regulations of The Nasdaq Stock Market or any securities exchange that are applicable to the Company; or 

  

	 	(ii)	would cause the Company to be unable, under the Code, to grant Incentive Stock Options under the Plan. 

  

	 	(iii)	decrease the grant or exercise price of any Option to less than Fair Market Value on the date of the grant; or 

  

	 	(iv)	increase the total number of shares of Common Stock that may be issued under the Plan. 

  
 (b)    Amendments to Awards.    The Committee may waive any conditions of or
rights of the Company under any outstanding Award, prospectively or retroactively. Except as otherwise provided herein or in the Award Agreement, the Committee may not amend, alter, suspend, discontinue or terminate any outstanding Award,
prospectively or retroactively, if such action would adversely affect the rights of the holder of such Award, without the consent of the Participant or holder or beneficiary thereof. 
  
 (c)    Correction of Defects, Omissions and Inconsistencies.    The Committee
may correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Award in the manner and to the extent it shall deem desirable to carry the Plan into effect. 
  
 Section 8.    Income Tax Withholding; Tax Bonuses. 
  
 (a)    Withholding.    In order to comply with all applicable federal or
state income tax laws or regulations, the Company may take such action as it deems appropriate to ensure that all applicable federal or state payroll, withholding, income or other taxes, which are the sole and absolute responsibility of a
Participant, are withheld or collected from such Participant. In order to assist a Participant in paying all or a portion of the federal and state taxes to be withheld or collected upon exercise or receipt of (or the lapse of restrictions relating
to) an Award, the Committee, in its discretion and subject to such additional terms and conditions as it may adopt, may permit the Participant to satisfy such tax obligation by (i) electing to have the Company withhold a portion of the Shares
otherwise to be delivered upon exercise or receipt of (or the lapse of restrictions relating to) such Award with a Fair Market Value equal to the amount of such taxes or (ii) delivering to the Company Shares other than Shares issuable upon exercise
or receipt of (or the lapse of restrictions relating to) such Award with a Fair Market Value equal to the amount of such taxes. The election, if any, must be made on or before the date that the amount of tax to be withheld is determined. 

 
 (b)    Tax Bonuses.    The
Committee, in its discretion, shall have the authority, at the time of grant of any Award under this Plan or at any time thereafter, to approve cash bonuses to designated Participants to be paid upon their exercise or receipt of (or the lapse of
restrictions relating to) Awards in order to provide funds to pay all or a portion of federal and state taxes due as a result of such exercise or receipt (or the lapse of such restrictions). The Committee shall have full authority in its discretion
to determine the amount of any such tax bonus. 
  
 Section
9.    General Provisions. 
  
 (a)    No Rights to Awards.    No Eligible Person, Participant or other Person shall have any claim to be granted any Award under the Plan, and there is no obligation for uniformity of
treatment of Eligible Persons, Participants or holders or beneficiaries of Awards under the Plan. The terms and conditions of Awards need not be the same with respect to any Participant or with respect to different Participants. 
  

 7 

 (b)    Award Agreements.    No Participant will have
rights under an Award granted to such Participant unless and until an Award Agreement shall have been duly executed on behalf of the Company and, if requested by the Company, signed by the Participant. 
  
 (c)    No Limit on Other Compensation
Arrangements.    Nothing contained in the Plan shall prevent the Company or any Affiliate from adopting or continuing in effect other or additional compensation arrangements, and such arrangements may be either generally
applicable or applicable only in specific cases. 
  
 (d)    No Right to Employment.    The grant of an Award shall not be construed as giving a Participant the right to be retained in the employ of the Company or any Affiliate, nor will it affect
in any way the right of the Company or an Affiliate to terminate such employment at any time, with or without cause. In addition, the Company or an Affiliate may at any time dismiss a Participant from employment free from any liability or any claim
under the Plan or any Award, unless otherwise expressly provided in the Plan or in any Award Agreement. 
  
 (e)    Governing Law.    The validity, construction and effect of the Plan or any Award, and any rules and
regulations relating to the Plan or any Award, shall be determined in accordance with the laws of the State of Florida. 
  
 (f)    Severability.    If any provision of the Plan or any Award is or becomes or is deemed to be invalid,
illegal or unenforceable in any jurisdiction or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to applicable laws, or if it cannot be so
construed or deemed amended without, in the determination of the Committee, materially altering the purpose or intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction or Award, and the remainder of the Plan or any
such Award shall remain in full force and effect. 
  
 (g)    No Trust or Fund Created.    Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or
any Affiliate and a Participant or any other Person. To the extent that any Person acquires a right to receive payments from the Company or any Affiliate pursuant to an Award, such right shall be no greater than the right of any unsecured general
creditor of the Company or any Affiliate. 
  
 (h)    No Fractional Shares.    No fractional Shares shall be issued or delivered pursuant to the Plan or any Award, and the Committee shall determine whether cash shall be paid in lieu of any
fractional Shares or whether such fractional Shares or any rights thereto shall be canceled, terminated or otherwise eliminated. 
  
 (i)    Headings.    Headings are given to the Sections and subsections of the Plan solely as a convenience
to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof. 
  
 Section 10.    Effective Date of the Plan. 
  
 The Plan was originally effective as of April 12, 2001. The Plan as herein amended and restated shall be effective as
of April 14, 2004 (the “Amendment and Restatement Date”), subject to approval of the amended and restated Plan by the shareholders of the Company within one year after the Amendment and Restatement Date. Upon approval of the amended and
restated Plan by the stockholders, all Grants made under the Plan on or after the Amendment and Restatement Date shall be fully effective as if the stockholders of the Company had approved the Plan on the Amendment and Restatement Date. If the
stockholders of the Company fail to approve the amended and restated Plan within the one-year period set forth in this Section 10, any Grants made hereunder in excess of the number of shares available for Grants under the Plan prior to its amendment
and restatement shall be null and void and of no effect and the applicable terms of the Plan shall be the terms in effect immediately prior to the Amendment and Restatement Date. 
  
 Section 11.    Term of the Plan. 
  
 No Award shall be granted under the Plan after April 12, 2011 or any earlier date of discontinuation or termination
established pursuant to Section 7(a) of the Plan. However, unless otherwise expressly provided in the Plan or in an applicable Award Agreement, any Award theretofore granted may extend beyond such date. 
  

 8

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