Document:

exv10w2

Exhibit 10.2

APPROACH RESOURCES INC.

2007 STOCK INCENTIVE PLAN

RESTRICTED STOCK AWARD AGREEMENT

PERFORMANCE VESTING

AND TIME VESTING REQUIREMENTS

     THIS AGREEMENT, made and entered into as of the ___ day of ____________, 2010, by and between
Approach Resources Inc., a Delaware corporation (“Approach”), and _________________________, an
employee, outside director or other individual providing services to Approach or one of its
Affiliates (“Participant”).

     WHEREAS, the Compensation Committee of Approach’s Board of Directors or such other committee
designated by Approach’s Board of Directors (the “Committee”), acting under Approach’s 2007 Stock
Incentive Plan (the “Plan”), has the authority to award restricted shares of Approach’s common
stock, $0.01 par value per share (the “Common Stock”), to employees, outside directors or other
individuals providing services to Approach or an Affiliate;

     WHEREAS, pursuant to the Plan, the Committee has determined to make such an award to
Participant on the terms and conditions and subject to the restrictions set forth in the Plan and
this Agreement, and Participant desires to accept such award; and

     WHEREAS, a copy of the Plan has been made available to Participant and shall be deemed a part
of this Agreement as if fully set forth herein and the terms capitalized but not defined herein
shall have the meanings set forth in the Plan.

     NOW, THERFORE, in consideration of the premises and mutual covenants and agreements contained
herein, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as
follows:

     1. Restricted Stock Award. On the terms and conditions and subject to the
restrictions, including forfeiture, hereinafter set forth, Approach hereby awards to Participant,
and Participant hereby accepts, a restricted stock award (the “Award”) of _____ shares (the
“Restricted Shares”) of Common Stock. The Award is made on the ___ day of ____________, 2010 (the
“Grant Date”). A certificate representing the Restricted Shares shall be issued in the name of
Participant (or, at the option of Approach, in the name of a nominee of Approach) as of the Grant
Date and delivered to Participant on the Grant Date or as soon thereafter as is practicable.
Participant shall cause the certificate representing the Restricted Shares, upon receipt thereof by
Participant, to be deposited, together with stock powers and any other instrument of transfer
reasonably requested by Approach duly endorsed in blank, with Approach, to be held by Approach in
escrow for Participant’s benefit until such time as the Restricted Shares represented by such
certificate are either forfeited by Participant to Approach or the restrictions thereon terminate
as set forth in this Agreement.

     2. Vesting and Forfeiture.

          (a) The Restricted Shares shall be subject to a restricted period that shall
commence on the Grant Date and shall end on the time-based vesting dates described in Section
2(a)(ii) below (the “Restricted Period”), subject to the satisfaction of the Performance
Vesting Requirement described in Section 2(a)(i). During the Restricted Period, the
Restricted Shares shall be subject to being forfeited by Participant to Approach as provided in
this Agreement, and Participant may not sell, transfer, pledge, exchange, hypothecate or otherwise
dispose of any of the Restricted Shares (the “Restrictions”).

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               (i) Performance Vesting Requirement. The “Performance Vesting
Requirement” means the performance-based vesting Restrictions for the Restricted Shares.
The Performance Vesting Requirement shall be satisfied by the achievement of the
“Performance Goals,” which are performance criteria established by the Committee pursuant to
Article XI of the Plan and set forth in Appendix A attached hereto. After
the end of the 2010 calendar year, the Committee will review and analyze Approach’s
performance for the 2010 calendar year and determine whether the Performance Vesting
Requirement has been satisfied. If the Committee determines that the Performance Vesting
Requirement has been satisfied, the Committee will certify the achievement of each of the
Performance Goals for the 2010 calendar year and then the Time Vesting Requirement in
Section 2(a)(ii) below will be the remaining Restriction applicable to the
Restricted Shares. If the Committee determines that the Performance Vesting Requirement has
not been satisfied, (i) the Participant shall have no rights whatsoever in and to any of the
Restricted Shares, (ii) all of the Restricted Shares shall automatically revert to Approach
at no cost and (iii) neither the Participant nor any of his or her heirs, beneficiaries,
executors, administrators or other personal representatives shall have any rights with
respect thereto. The Committee’s certification of the achievement of the Performance Goals
will be effective as of December 31, 2010, regardless of any delay in the Committee’s
determination of whether the Performance Goals were satisfied for the 2010 calendar year.
The Committee shall have the sole discretion for determining whether the Performance Vesting
Requirement has been satisfied and any such determination shall be conclusive.

               (ii) Time Vesting Requirement. The “Time Vesting Requirement” means
the time-based vesting Restrictions for the Restricted Shares during the Restricted Period.
The time-based Restrictions on the Restricted Shares shall lapse and the vesting date shall
occur as to:

               (A) 33-1/3% of the Restricted Shares (if a fractional number, then the
next lower whole number) on December 31, 2012, provided Participant is in the
continuous active service of Approach or an Affiliate until such date;

               (B) an additional 33-1/3% of the Restricted Shares (if a fractional
number, then the next lower whole number) on December 31, 2013, provided Participant
is in the continuous active service of Approach or an Affiliate until such date; and

               (C) the remaining Restricted Shares on December 31, 2014, provided
Participant is in the continuous active service of Approach or an Affiliate until
such date.

Following the removal of the Restrictions on any Restricted Shares pursuant to both the Performance
Vesting Requirement and the Time Vesting Requirement, Approach shall, as soon as administratively
feasible, deliver to Participant from escrow a certificate representing such shares of Common Stock
and Participant shall be free to sell, transfer, pledge, exchange, hypothecate or otherwise dispose
of such shares of Common Stock, subject to applicable securities laws and the policies of Approach
then in effect.

          (b) Subject to paragraph (c) of this Section 2, upon termination of
Participant’s employment or service with Approach or an Affiliate, (i) Participant shall have no
rights whatsoever in and to any of the Restricted Shares as to which the Restrictions have not been
removed pursuant to paragraph (a) of this Section 2 as of the date of the
Participant’s termination of employment or service, (ii) all of the Restricted Shares as to which
the Restrictions have not been removed pursuant to paragraph (a) of this Section 2
as of the date of the Participant’s termination of employment or service shall automatically revert
to Approach at no cost and (iii) neither Participant nor any of his or her heirs, beneficiaries,
executors, administrators or other personal representatives shall have any rights with respect
thereto.

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          (c) Change in Control and Termination of Employment or Service for Death or
Disability.

          (i) Change in Control. The Change of Control provisions in Article
XIII of the Plan shall apply with respect to the Restricted Shares.

          (ii) Termination of Employment or Service for Death or Disability.
If Participant’s employment or service with Approach or an Affiliate is terminated as a
result of the Participant’s death or Disability, then the Restrictions on the Restricted
Shares shall automatically lapse as to any remaining outstanding Restricted Shares the
Participant may hold at the time of such a termination of employment or service. Any
Restrictions imposed upon the Restricted Shares as a result of the Performance Vesting
Requirement will be deemed to be satisfied at the “maximum” levels necessary to satisfy the
Performance Vesting Requirement at the time of the Participant’s termination of employment
or service as a result of the Participant’s death or Disability.

     3. Rights as Stockholder. Subject to the provisions of this Agreement, upon
the issuance of a certificate or certificates representing the Restricted Shares to Participant,
Participant shall become the record and beneficial owner thereof for all purposes and shall have
all rights as a stockholder, including without limitation voting rights and the right to receive
dividends and distributions (provided that any such dividend or distribution shall be paid no later
than the 15th day of the third month of the calendar year following the calendar year in which the
dividend or distribution is declared by Approach), with respect to the Restricted Shares. If and
to the extent Approach shall effect a stock split, stock dividend or similar distribution with
respect to the Common Stock, (a) the stock distributed pursuant thereto shall be held by Approach
with respect to those Restricted Shares as to which the Restrictions have not yet been removed
pursuant to Section 2; (b) such additional stock shall enjoy the privileges and be subject
to the Restrictions applicable to the Restricted Shares; and (c) Participant shall be entitled to
sell, transfer, pledge, exchange, hypothecate or otherwise dispose of such additional stock when
the Restrictions on the Restricted Shares to which the distribution relates have been removed
pursuant to Section 2.

     4. Optional Issuance in Book-Entry Form. Notwithstanding the foregoing, at
the option of Approach, any shares of Common Stock that under the terms of this Agreement are
issuable in the form of a stock certificate may instead be issued in book-entry form.

     5. Withholding Taxes.

          (a) Participant may elect, within 30 days of the Grant Date and on notice to
Approach and the Internal Revenue Service in accordance with Section 83(b) of the Internal Revenue
Code of 1986, as amended, and the regulations and other guidance thereunder, to realize income for
federal income tax purposes equal to the fair market value of the Restricted Shares on the Grant
Date. In such event, Participant shall make arrangements satisfactory to Approach or the
appropriate Affiliate to pay in the calendar year that includes the Grant Date any federal, state
or local taxes required to be withheld with respect to such shares.

          (b) If no election is made by Participant pursuant to Section 5(a) hereof,
then upon the termination of the Restrictions applicable hereunder to all or any portion of the
Restricted Shares, Participant (or in the event of Participant’s death, the administrator or
executor of Participant’s estate) will pay to Approach or the appropriate Affiliate, or make
arrangements satisfactory to Approach or such Affiliate regarding payment of, any federal, state or
local taxes of any kind required by law to be withheld with respect to the Restricted Shares with
respect to which such Restrictions have terminated. Approach may allow the Participant to pay the
amount of such taxes required by law to be withheld with respect to the Restricted Shares by (i)
withholding shares of Common Stock from any issuance of Common Stock due as a result of the removal
of the Restrictions on any Restricted Shares, or (ii) permitting the Participant to deliver to
Approach previously acquired shares of Common Stock, in each case having an aggregate fair market
value equal to the amount of such required withholding taxes.

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          (c) Any provision of this Agreement to the contrary notwithstanding, if Participant
does not satisfy his or her obligations under paragraphs (a) or (b) of this Section
5, Approach shall, to the extent permitted by law, have the right to deduct from any payments
made under the Plan, regardless of the form of such payment, or from any other compensation payable
to Participant, whether or not pursuant to this Agreement or the Plan and regardless of the form of
payment, any federal, state or local taxes of any kind required by law to be withheld with respect
to the Restricted Shares.

     6. Reclassification of Shares. In the event of any reorganization,
recapitalization, stock split, stock dividend, merger, consolidation, combination of shares or
other change affecting the Common Stock, the Committee shall make adjustments in accordance with
the Plan. Any such adjustments made by the Committee shall be conclusive.

     7. Effect on Employment. Nothing contained in this Agreement shall confer
upon Participant the right to continue in the employment of Approach or any Affiliate, or affect
any right which Approach or any Affiliate may have to terminate the employment of Participant.
This shall not be construed as any agreement or understanding, express or implied, that Approach or
any Affiliate will retain Participant as an employee for any period of time or at any particular
rate of compensation or other terms and conditions of employment unrelated to Restricted Shares.

     8. Investment Representations.

          (a) The Shares are being received for Participant’s own account with the intent of
holding them and without the intent of participating, directly or indirectly, in a distribution of
such Shares and not with a view to, or for resale in connection with, any distribution of such
Shares or any portion thereof.

          (b) A legend may be placed on any certificate(s) or other document(s) delivered to
Participant or substitute therefore indicating restrictions on transferability of the Shares
pursuant to this Agreement or referring to any stop transfer orders and other restrictions as the
Committee may deem advisable under the rules, regulations and other requirements of the Securities
and Exchange Commission, NASDAQ or any other stock exchange or association upon which the common
stock of Approach is then listed or quoted, any applicable federal or state securities laws, and
any applicable corporate law, and any transfer agent of Approach shall be instructed to require
compliance therewith.

     9. Assignment. Approach may assign all or any portion of its rights and
obligations under this Agreement. The Award, the Restricted Shares and the rights and obligations
of Participant under this Agreement may not be assigned, sold, transferred, pledged, exchanged,
hypothecated or otherwise disposed of by Participant other than by will or the applicable laws of
descent and distribution.

     10. Binding Effect. This Agreement shall be binding upon and inure to the
benefit of (a) Approach and its successors and assigns, and (b) Participant and his or her heirs,
devisees, executors, administrators and personal representatives.

     11. Notices. All notices between the parties hereto shall be in writing and
given in the manner provided in Section 15.7 of the Plan. Notices to Participant shall be
given to Participant’s address as contained in Approach’s records. Notices to Approach shall be
addressed to the Corporate Secretary at the principal executive offices of Approach as set forth in
Section 15.7 of the Plan.

     12. Governing Law; Exclusive Forum; Consent to Jurisdiction. This Agreement
shall be governed by the laws of the State of Delaware except for its laws with respect to conflict
of laws. The exclusive forum for any lawsuit arising from or related to this Agreement shall be a
state or federal court in Tarrant County,

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Texas. This provision does not prevent Approach from removing to an appropriate federal court
any action brought in state court. NOTHING IN THIS AGREEMENT SHALL BE CONSTRUED AS PROHIBITING
REMOVAL TO FEDERAL COURT BY APPROACH OF ANY ACTION BROUGHT AGAINST IT BY PARTICIPANT.

     13. Execution of Receipts and Releases. Any issuance or transfer of the
Shares to Participant or Participant’s legal representative, heir, legatee or distributee, in
accordance with the provisions of this Agreement, shall be in full satisfaction of all claims of
such persons hereunder related to the Award. Approach may require Participant or Participant’s
legal representative, heir, legatee or distribute, as a condition precedent to such issuance, to
execute such a release and receipt therefore in such form as Approach may determine.

     14. Severability. If any provision of this Agreement is held to be illegal
or invalid for any reason, the illegality or invalidity shall not affect the remaining provisions
hereof, but such provision shall be fully severable and this Agreement shall be construed and
enforced as if the illegal or invalid provision had never been included herein.

     15. Headings. The titles and headings of Sections are included for
convenience of reference only and are not to be considered in construction of the provisions
hereof.

     16. Amendment. The Committee may amend the terms of this Award and this
Agreement at any time, although no such amendment shall adversely affect, in any material way, the
Participant’s (or a Participant’s Permitted Transferee’s) rights under an outstanding Award without
the prior consent of the Participant (or the Participant’s Permitted Transferee) then holding the
Award.

     17. Entire Agreement. This Agreement constitutes the entire agreement
between the parties concerning its subject matter and supersedes all prior agreements,
understandings, and statements, both written and oral, between the parties with respect to such
subject matter. In signing this Agreement, the Participant is not relying on any written or oral
statement, promise, or representation from Approach or its Affiliates concerning this Agreement
other than as set above in this Agreement.

     IN WITNESS WHEREOF, Approach and Participant have executed this Agreement as of the date first
written above.

	 	 	 	 	 
	 	APPROACH RESOURCES INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PARTICIPANT
 	 
	 	  	 	 
	 	 	Participant Signature 	 
	 	 	 	 
	 	  	 	 
	 	 	Participant Printed Name 	 

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STOCK POWER AND ASSIGNMENT

SEPARATE FROM CERTIFICATE

     FOR VALUE RECEIVED and pursuant to that certain Approach Resources Inc. 2007 Stock Incentive
Plan and the Restricted Stock Award Agreement dated _______________, 20___ (the “Agreement”), the
undersigned Participant hereby sells, assigns and transfers unto ______________________________,
__________ shares of Common Stock, $0.01 par value per share, of Approach Resources Inc., a
Delaware corporation (“Approach”), standing in the undersigned’s name on the books of Approach and
does hereby irrevocably constitute and appoint the Corporate Secretary of Approach as the
undersigned’s attorney-in-fact, with full power of substitution, to transfer said stock on the
books of Approach. THIS ASSIGNMENT MAY ONLY BE USED AS AUTHORIZED BY THE AGREEMENT AND ANY
EXHIBITS THERETO.

Dated: _________________________

PARTICIPANT

	 	 	 	 	 
	 	 	 
	 	  	 	 
	 	 	Participant Signature 	 
	 	 	 	 
	 	  	 	 
	 	 	Participant Printed Name 	 

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APPENDIX A

TO RESTRICTED STOCK AWARD AGREEMENT

Performance Goals for Performance Vesting Requirement

     The Performance Goals for the Restricted Shares shall be comprised of the three company goals
set forth in Section 1 of this Appendix A below. All three of the Performance
Goals must be met or exceeded for the Performance Vesting Requirement for the Restricted Shares to
be satisfied; if only one or two of the Performance Goals are met, no proportional vesting shall
occur. The Committee shall have the sole discretion for determining whether the Performance
Vesting Requirement has been satisfied and any such determination shall be conclusive.

     1. Performance Goals. The following Performance Goals shall apply with
respect to the Restricted Shares and relate to the calendar year ending December 31, 2010 (the
“2010 calendar year”):

     (a) Approach’s proved oil and gas reserves as of December 31, 2010,
increased a minimum of 10.0% during the 2010 calendar year, as compared to
Approach’s proved oil and gas reserves as of December 31, 2009;

     (b) Finding and Development (“F&D”) costs did not exceed $2.50 per
Mcfe of natural gas for the 2010 calendar year; and

     (c) Long-term debt as of December 31, 2010, must not exceed
2.75 times EBITDAX for the 2010 calendar year.

     2. Definitions and Calculations Procedures

     (a) Proved oil and gas reserves are the estimated volumes of Approach’s total
proved oil and gas reserves as determined by an independent reserve engineering firm in
accordance with the rules and regulations of the Securities and Exchange Commission.

     (b) F&D costs are calculated by dividing the sum of property acquisition,
exploration and development costs by extensions, discoveries and revisions (excluding price
revisions).

     (c) Long-term debt is calculated under GAAP as included in the Company’s
balance sheet.

     (d) EBITDAX is calculated as net income (loss), plus (i) exploration expense,
(ii) depletion, depreciation and amortization expense, (iii) share-based compensation
expense, (iv) unrealized gain (loss) on commodity derivatives, (v) interest expense, and
(vi) income taxes. EBITDAX may also include other non-recurring items that the Committee, in
its sole discretion, may deem appropriately added back to GAAP net income.

     (e) Mcfe is one thousand cubic feet equivalent of natural gas, using a
conversion of ratio of six thousand cubic feet of natural gas to one barrel of oil,
condensate or natural gas liquids.

A-1Exhibit 10.1

Exhibit 10.1

SEPARATION AGREEMENT

This Separation Agreement (this “Agreement”) is being entered into as of this 6th day
of July, 2010 (the “Date of this Agreement”), by and between Biolase Technology, Inc. (the
“Company”), and Brett L. Scott, an individual (“Employee”) (each of the Company and
Employee is sometimes hereinafter referred to individually, as a “Party” and collectively,
as the “Parties”).

WHEREAS, Employee and the Company are parties to that certain Employment Agreement, dated as
of July 13, 2009 (the “Employment Agreement”).

WHEREAS, the Parties wish to provide for severance benefits in lieu of any severance benefits
provided under the Employment Agreement on the terms and conditions set forth below.

WHEREFORE in consideration of the foregoing premises and the terms and conditions set forth
below, the Parties agree as follows:

1. Termination of Employment.

a. The Company has terminated Employee’s employment, effective as of July 6, 2010
(the “Effective Date”). The Company terminated Employee from his position as the Chief
Financial Officer, effective as of the Effective Date. Employee hereby acknowledges receipt of the
Company’s notice of termination, and resigns from each position as a director, officer and/or
employee of the Company or any subsidiary or affiliate of the Company, effective as of the
Effective Date.

b. Employee acknowledges that he is entitled to be paid all salary and wages
through and including the Effective Date, including without limitation, and any accrued unused
vacation benefits, which will be paid by the Company on the Effective Date, and Employee will be
reimbursed for all reasonably business expenses incurred upon submission of evidence of such
expenses. Except as otherwise provided for in this Agreement, the rights and obligations of
Employee and the Company under the Employment Agreement terminated on the Effective Date and shall
have no further force or effect after the Effective Date.

c. Provided that within twenty-one days of the date on which Employee receives this
Agreement, Employee executes and delivers to the Company the Termination Certification attached
hereto as Exhibit A and the Mutual Release and Waiver of Claims (the “Release”)
attached hereto as Exhibit B, and further provided that Employee does not revoke the
Release in accordance with its terms and conditions, the Company shall provide to Employee, in lieu
of any compensation or benefits under the Employment Agreement, the following severance benefits:

(1) The Company shall pay to Employee $17,500, subject to applicable tax
withholding, payable in two consecutive installments, commencing on the first regular pay period
following the expiration and non-revocation of the revocation period contained in the Release. The
Company shall report such amount as wages paid on each payment date and shall remit the amount of
the required tax withholding to the relevant tax authorities.

(2) The Company shall pay COBRA premiums for Employee (and his eligible dependents) under the
Company’s medical and dental benefit plans, as in effect from time to time, for a three (3) month
period commencing on August 1, 2010. The benefits under such plans shall be provided through
insurance maintained by the Company.

(3) To the extent that it is permissible by law and in compliance with all plan rules, the
Company shall pay Employee’s premiums under the Company’s group life insurance, accidental death
and dismemberment and disability benefit plans during the three (3) month period following the
Effective Date. The benefits under such plans shall be provided through insurance maintained by the
Company.

d. Except as provided for in this Agreement, Employee understands and agrees that
he is giving up any right or claim to further compensation from the Company. Employee and the
Company have no further rights or obligations under the Employment Agreement, except as otherwise
specified in this Agreement.

 

 

 

2. No Admission. Employee and the Company further understand and agree that neither
the payment of money nor the execution of this Agreement, including the Release, shall constitute
or be construed as an admission of any liability whatsoever by either Party.

3. Severability. The provisions of this Agreement are severable, and if any part of
this Agreement is found to be unenforceable, the other paragraphs (or portions thereof) shall
remain fully valid and enforceable.

4. No Encouragement of Actions/Cooperation with the Company. Employee agrees that he
will not assist any person or entity in bringing or pursuing legal action against the Company, its
agents, successors, representatives, employees and related and/or affiliated companies, based on
events occurring prior to the Effective Date; provided, however, that this
Section 4 shall not apply to any legal action arising from or related to this Agreement or to any
conduct compelled by or pursuant to applicable law, nor shall it prohibit, in any way, Employee
from responding to a subpoena or taking any other action required by law. To the extent Employee
is subpoenaed or otherwise requested or required to provide any documents, testimony or other
information concerning the Company, he shall notify the Company as soon as practicable, and
cooperate with the Company in opposing any such request or requirement to the extent permitted by
applicable law. Employee shall also provide information requested by the Company, and make himself
available at reasonable time upon reasonable request to assist the Company in defending or
prosecuting any legal action or arbitration to the extent it concerns events occurring during his
employment or events as to which he may have knowledge. The Company shall reimburse Employee for
any reasonable out of pocket expenses incurred and shall compensate Employee for Employee’s actual
time spent, including travel time, providing information or assistance to the Company, under the
immediately preceding sentence, at the rate of $250.00 per hour.

5. No Disparagement. The Company and Employee agree that for a period of ten (10)
years after Employee’s employment with the Company ceases, they will not, in any communication with
any person or entity, including any actual or potential customer, client, investor, vendor,
distributor, or business partner of the Company, or any third party media outlet, make any
derogatory or disparaging or critical negative statements — orally, written or otherwise — against
the other, or against the Employee’s affiliates, or any of the Company’s directors, officers, or
agents (in the case of any of Employee’s affiliates, at such time as they are affiliated with
Employee or, in the case of any of the Company’s directors, officers or agents, at such time as
they are employed by, or acting for, the Company). The parties acknowledge and agree that the
obligation on the part of the Company not to make any derogatory statements as set forth in this
paragraph shall only apply to the Company’s officers and directors.

6. Company Property. Employee agrees to search his/her home, office and all other
storage areas for all property owned by the Company and to return all Company property and
equipment to the Company within ten (10) days of his receipt of this Agreement.

7. Choice of Law and Venue. The Parties acknowledge and agree that this Agreement
shall be interpreted in accordance with California law. If any claims or actions arising out of or
relating to this Agreement or Employee’s service with the Company are determined by an arbitrator
not to be subject to Section 9, they shall be filed in either the Superior Court of the State of
California for the County of Orange, or the Federal District Court for the Central District of
California.

8. Sole and Entire Agreement; Obligations of Employee. With the exception of the
terms and conditions of the Release, the Proprietary Information Agreement, Termination
Certification, and the non-solicitation provisions set forth in Section 6 of the Employment
Agreement, this Agreement and the exhibits hereto represent the sole and entire agreement among the
Parties and supersedes all prior agreements (including, without limitation, the Employment
Agreement), negotiations, and discussions between the Parties hereto and/or their respective
counsel. The non-solicitation provisions of Section 6 of the Employment Agreement shall remain in
full force and effect and shall survive the termination of Employee’s employment with the Company
and the termination of the Employment Agreement, and Employee acknowledges and agrees that the
Company shall have the right to communicate with any future or prospective employer of Employee
concerning Employee’s obligations under this Agreement, the Proprietary Information Agreement, and
the non-solicitation provisions of Section 6 of the Employment Agreement. Employee is not relying
on any promise or representation by the Company that is not expressly stated herein and the Company
is not relying on any promise or representation by Employee that is not expressly stated herein.
Any agreement amending or superseding this Agreement must be in writing, signed by duly authorized
representatives of the Parties, specifically reference this Agreement; and state the intent of the
Parties to amend or supersede this Agreement. This Agreement may only be modified by a writing
signed by both Employee and a duly authorized officer of the Company.

 

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9. Arbitration. The Parties hereby agree to submit any claim or dispute arising out
of or relating to the terms of this Agreement to private and confidential arbitration by a single
neutral arbitrator. Subject to the terms of this Section, the arbitration proceedings shall be
governed by the rules of the Judicial Arbitration and Mediation Service (“JAMS”) applicable
to employment disputes as they may be in effect from time to time, and shall take place in Orange
County, California. The arbitrator shall be appointed by agreement of the Parties hereto or, if no
agreement can be reached, by the JAMS pursuant to its rules. The decision of the arbitrator shall
be rendered in writing and be final and binding on all Parties to this Agreement, and judgment
thereon may be entered in any court having jurisdiction. The arbitrator’s fees and/or any other
fees payable to JAMS shall be shared in accordance with the rules of JAMS; provided, however, that
Employee shall not be required to pay any such fees that are unique to arbitration and/or would
exceed the cost of filing the same claim(s) in a court of competent jurisdiction, and any shortfall
shall be borne by the Company. The Parties shall each bear their own attorneys’ fees, witness
expenses, expert fees and other costs, except to the extent they may be awarded otherwise by the
arbitrator in accordance with applicable law. This arbitration procedure is intended to be the
sole and exclusive method of resolving any claim between the Parties, and each of the Parties
hereby waives any right to a jury trial with respect to such claims.

10. Headings; Construction of Agreement. The headings in this Agreement are provided
solely for the Parties’ convenience, and are not intended to be part of, nor to affect or alter the
interpretation or meaning of this Agreement. Both Parties have been represented by, or had the
opportunity to be represented by, counsel in connection with this Agreement.

11. Counterparts. For the convenience of the Parties hereto, this Agreement may be
executed in any number of counterparts, each such counterpart being deemed to be an original
instrument, and all such counterparts shall together constitute the same agreement.

12. Authority to Execute this Agreement. The person or persons executing this
Agreement on behalf of a Party warrants and represents that he has the authority to execute this
Agreement on behalf of the Party and has the authority to bind that Party to the performance of its
obligations hereunder.

IN WITNESS WHEREOF, the parties have entered into this Separation and General Release
Agreement as of the date first set forth above.

“COMPANY”

BIOLASE TECHNOLOGY, INC.

	 	 	 	 
	By:  	                   /s/ David M. Mulder
 	 
	 	Name:  	David M. Mulder 	 
	 	Title:  	Chairman and Chief Executive Officer 	 

“EMPLOYEE”

	 	 	 	 
	/s/ Brett L. Scott
 	 
	Brett L. Scott 	 
	 	 

 

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EXHIBIT A

BIOLASE TECHNOLOGY, INC.

TERMINATION CERTIFICATION

This is to certify that based on a reasonably diligent search by me, and to the best of my
knowledge, I do not have in my possession, nor have I failed to return, any devices, records, data,
notes, reports, proposals, lists, correspondence, specifications, drawings, blueprints, sketches,
materials, equipment, other documents or property, or reproductions of any aforementioned items
which is a trade secret and/or proprietary information belonging to BioLase Technology, Inc., its
subsidiaries, affiliates, successors or assigns (together, the “Company”).

I further certify that, to the best of my knowledge, I have complied with all the terms of the
Company’s Employee Proprietary Information Agreement signed by me.

I further agree that, in compliance with the Employee Proprietary Information Agreement, I will
preserve as confidential all trade secrets, confidential knowledge, data or other proprietary
information relating to products, processes, know-how, designs, formulas, developmental or
experimental work, computer programs, data bases, other original works of authorship, customer
lists, business plans, financial information or other subject matter pertaining to any Business of
the Company or any of its clients, consultants or licensees which is proprietary and/or
confidential information to the Company.

Date:                                         

	 	 	 	 
	 	 	 
	 	Brett L. Scott 	 

 

4

 

EXHIBIT B

GENERAL RELEASE AND WAIVER OF CLAIMS

In consideration of the payments and other benefits set forth in the Separation and General
Release Agreement, dated as of July 6, 2010, by and between Executive and the Company (the
“Agreement”), to which this form shall be deemed to be attached, Brett L. Scott (“Executive”)
hereby agrees to the following general release and waiver of claims (“General Release”).

In exchange for the consideration provided to Executive by the Agreement that Executive is not
otherwise entitled to receive, Executive hereby generally and completely releases Biolase
Technology, Inc. (the “Company”) and its directors, officers, employees, shareholders, partners,
agents, attorneys, predecessors, successors, parent and subsidiary entities, insurers, affiliates,
and assigns from any and all claims, liabilities and obligations, both known and unknown, that
arise out of or are in any way related to events, acts, conduct, or omissions occurring from the
beginning of the world to my signing of this General Release. This general release includes, but is
not limited to: (1) all claims arising out of or in any way related to Executive’s employment with
the Company or the termination of that employment; (2) all claims related to Executive’s
compensation or benefits from the Company, including salary, bonuses, commissions, vacation pay,
expense reimbursements, severance pay, fringe benefits, stock, or any other ownership interests in
the Company; (3) all claims for breach of contract, wrongful termination, and breach of the implied
covenant of good faith and fair dealing; (4) all tort claims, including claims for fraud,
defamation, emotional distress, and discharge in violation of public policy; and (5) all federal,
state, and local statutory claims, including claims for discrimination, harassment, retaliation,
attorneys’ fees, or other claims arising under Title VII of the 1964 Civil Rights Act, as amended,
the Age Discrimination in Employment Act, the California Fair Employment and Housing Act, the Equal
Pay Act of 1963, as amended, the provisions of the California Labor Code, the Americans with
Disabilities Act, the Fair Labor Standards Act, the Employee Retirement Income Security Act of
1974, as amended (“ERISA”), the Sarbanes-Oxley Act of 2002, and any other state, federal, or local
laws and regulations relating to employment and/or employment discrimination. The only exceptions
are claims Executive may have for unemployment compensation and worker’s compensation, Base Salary
(through the date of termination), outstanding business expenses, and unused vacation earned
through the date of termination of Executive.

Executive expressly waives and relinquishes any and all rights and benefits Executive now has
or may have in the future under the terms of Section 1542 of the Civil Code of the State of
California, which sections reads in full as follows:

A general release does not extend to claims which the creditor does not know or
suspect to exist in his or her favor at the time of executing the release, which if
known by him or her must have materially affected his or her settlement with the
debtor.

Notwithstanding said Code Section, Executive knowingly and voluntarily waives the provisions of
Section 1542 as well as any other statutory or common law provisions of similar effect and
acknowledges and agrees that this waiver is an essential part of this General Release.

Executive acknowledges that, among other rights, Executive is waiving and releasing any rights
Executive may have under ADEA, that this General Release is knowing and voluntary, and that the
consideration given for this General Release is in addition to anything of value to which Executive
was already entitled as an executive of the Company. Executive further acknowledge that Executive
has been advised, as required by the Older Workers Benefit Protection Act, that: (a) the General
Release granted herein does not relate to claims under the ADEA which may arise after this General
Release is executed; (b) Executive has the right to consult with an attorney prior to executing
this General Release (although Executive may choose voluntarily not to do so); and (c) Executive
has twenty-one (21) days from the date of termination of Executive’s employment with the Company in
which to consider this General Release (although Executive may choose voluntarily to execute this
General Release earlier, in which case he voluntarily waives the remainder of the twenty-one (21)
day period); (d) Executive has seven (7) days
following the execution of this General Release to revoke his consent to this General Release;
and (e) this General Release shall not be effective until the seven (7) day revocation period has
expired.

 

5

 

Executive acknowledges his continuing obligations under the Proprietary Information and
Inventions Agreement and the non-solicitation provisions set forth in Section 6 of that certain
Employment Agreement, dated July 13, 2009, by and between the Executive and the Company (the
“Employment Agreement”). Nothing contained in this General Release shall be deemed to modify, amend
or supersede the obligations set forth in such agreements.

By signing this General Release, Executive hereby represents that he is not aware of any
affirmative conduct or the failure to act on the part of the Company, its officers, directors,
and/or employees concerning the Company’s business practices, its reporting obligations, its
customers and/or prospective customers, its products, and/or any other any other aspect of the
Company’s business, which Executive has any reason to believe rises to the level of unfair,
improper and/or unlawful conduct pursuant to any state or federal law, rule, regulation or order,
including, but not limited to, any rule, regulation or decision promulgated or enforced by the
Securities and Exchange Commission, or which has been promulgated or enforced by any other state or
federal office or administrative body pursuant to the Sarbanes-Oxley Act of 2002.

With the exception of the terms set forth in the Proprietary Information Agreement, the
Agreement, and the non-solicitation provisions set forth in the Employment Agreement, this General
Release constitutes the complete, final and exclusive embodiment of the entire agreement between
the Company and Executive with regard to the subject matter hereof. Executive is not relying on any
promise or representation by the Company that is not expressly stated herein and the Company is not
relying on any promise or representation by Executive that is not expressly stated herein. This
General Release may only be modified by a writing signed by both Executive and a duly authorized
officer of the Company.

The Company and Executive agree that for a period of ten (10) years after Executive’s
employment with the Company ceases, they will not, in any communication with any person or entity,
including any actual or potential customer, client, investor, vendor, distributor, or business
partner of the Company, or any third party media outlet, make any derogatory or disparaging or
critical negative statements — orally, written or otherwise — against the other, or against the
Executive’s estate or affiliates, any of the Company’s directors, officers or employees. The
parties acknowledge and agree that the obligation on the part of the Company not to make any
derogatory statements as set forth in this paragraph shall only apply to the Company’s officers and
directors.

The parties agree that this General Release does not in any way compromise or lessen
Executive’s rights to be indemnified by the Company pursuant to that certain Indemnification
Agreement dated July 14, 2009, pursuant to the Company’s by-laws or certificate of incorporation,
or otherwise be covered under any applicable insurance policies that Executive would otherwise be
entitled to receive and/or be covered by.

The parties agree that in no way does this General Release preclude Executive from enforcing
his ownership rights pertaining to any stock or stock options which may have been purchased by
Executive or granted to Executive by the Company pursuant to a written stock option grant and/or as
memorialized in a written Board Resolution (and as reported periodically in the Company’s proxy
statements).

BIOLASE TECHNOLOGY, INC.

	 	 	 	 
	By:  	 	 
	 	Name:  	David M. Mulder 	 
	 	Title:  	Chairman and Chief Executive Officer 	 

	 	 	 
	 	 
	Brett L. Scott 	 

 

6

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