Document:

Exhibit 10.2

 

BRUKER
CORPORATION

 

FORM OF
STOCK OPTION AGREEMENT

 

UNDER
2010 INCENTIVE COMPENSATION PLAN

 

NON-QUALIFIED
STOCK OPTION

 

AGREEMENT entered into [       ]
by and between Bruker Corporation, a Delaware corporation with a principal
place of business in Billerica, Massachusetts (the “Company”), and the
undersigned (the “Participant”) employee, officer, director, consultant or
advisor of the Company or one of its subsidiaries (the Company and its
subsidiaries herein together referred to as the “Company”).

 

1.             The
Company desires to grant the Participant a non-qualified stock option under the
Company’s 2010 Incentive Compensation Plan (the “2010 Plan”) to acquire shares
of the Company’s common stock, $.01 par value per share (the “Shares”).

 

2.             Section 6
of the 2010 Plan provides that each option is to be evidenced by an option
agreement, setting forth the terms and conditions of the option.

 

ACCORDINGLY, in consideration of the premises and of
the mutual covenants and agreements contained herein, the Company and the
Participant hereby agree as follows:

 

1.             Grant
of Option.  The Company hereby
irrevocably grants under the 2010 Plan and subject to the terms and conditions
of the 2010 Plan to the Participant a non-qualified stock option (the “Option”)
to purchase all or any part of an aggregate of [       ]
Shares on the terms and conditions hereinafter set forth.  This option shall not be treated as an
incentive stock option under Section 422 of the Internal Revenue Code of
1986, as amended (the “Code”).

 

2.             Purchase
Price.  The purchase price (“Purchase
Price”) for the Shares covered by the Option shall be $[    ]
per Share.

 

3.             Time
of Exercise of Option.

 

(a)           The
Option shall not be exercisable prior to one (1) year from grant.  Thereafter, the Option shall only be
exercisable as follows:

 

	
   

  	
   

  	
  Percentage of

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Shares Becoming

  	
   

  	
  Cumulative

  	
   

  
	
   

  	
   

  	
  Available for

  	
   

  	
  Percentage

  	
   

  
	
  On or After

  	
   

  	
  Exercise

  	
   

  	
  Available

  	
   

  
	
  12 months

  	
   

  	
  20

  	
  %

  	
  20

  	
  %

  
	
  24 months

  	
   

  	
  20

  	
  %

  	
  40

  	
  %

  
	
  36 months

  	
   

  	
  20

  	
  %

  	
  60

  	
  %

  
	
  48 months

  	
   

  	
  20

  	
  %

  	
  80

  	
  %

  
	
  60 months

  	
   

  	
  20

  	
  %

  	
  100

  	
  %

  

 

 

4.                Term
of Options; Exercisability.

 

(a)               Term.

 

(1)               Each
Option shall expire not more than ten (10) years from the date of the
granting thereof, but shall be subject to earlier termination as herein
provided.

 

(2)               Except
as otherwise provided in this Section 4, if the Participant ceases to have
the same relationship with the Company which was in existence on the date the
Option was granted, the Option granted to the Participant hereunder shall
terminate on the date that is sixty (60) days after the Participant ceases to
have such relationship with the Company, or on the date on which the Option
expires by its terms, whichever occurs first, and such Option shall not be
exercisable after such date.

 

(3)               If
such termination of relationship is because the Participant has become
permanently disabled (within the meaning of Section 22(e)(3) of the
Code), the Option shall terminate sixty (60) days from the date the Participant
ceases to be a Participant, or on the date on which the Option expires by its
terms, whichever occurs first.

 

(4)               If
the relationship of the Participant with the Company is terminated “for cause”,
all outstanding and unexercised portions of the Option as of the time the
Participant is notified that the Participant’s service is terminated “for cause”
will immediately be forfeited. For purposes of this Agreement, “cause” shall
include (and is not limited to) dishonesty with respect to the Company or any
of its affiliates, breach of fiduciary duty, insubordination, substantial
malfeasance or non-feasance of duty, unauthorized disclosure of confidential
information, material failure or refusal to comply with Company’s published
policies generally applicable to all employees, and conduct materially harmful
to the business of the Company or any of its affiliates. The determination of
the Compensation Committee (as defined in the 2010 Plan) as to the existence of
“cause” will be conclusive on the Participant and the Company. In addition, “cause”
is not limited to events which have occurred prior to the Participant’s
termination of service, nor is it necessary that the Compensation Committee’s
finding of “cause” occur prior to termination. 
If the Compensation Committee determines, subsequent to the Participant’s
termination of service but prior to the exercise of the Option, or any portion
thereof, that either prior or subsequent to the Participant’s termination the
Participant engaged in conduct which would constitute “cause”, then the right
to exercise any outstanding unexercised portion of the Option will be
immediately forfeited.  Notwithstanding
the foregoing, any definition in an agreement between the Participant and the
Company which (i) contains a conflicting definition of “cause” for
termination and (ii) is in effect at the time of such termination shall
supersede the definition in this Agreement with respect to the Participant.

 

(5)               In
the event of the death of the Participant, the Option granted to the
Participant shall terminate ninety (90) days from the date of death, or on the
date on which the Option expires by its terms, whichever occurs first.

 

(b)              Exercisability.

 

(1)               If
the Participant ceases to have the same relationship with the Company which was
in existence on the date the Option was granted, the Option granted to the
Participant hereunder shall be exercisable only to the extent that the right to
purchase Shares under such Option has accrued and is in effect on the date such
Participant ceases to have such relationship with the Company.

 

(2)               No
partial exercise may be made for less than fifty (50) full Shares.

 

(3)               In
the event of the death of the Participant, the Option granted to such
Participant may be exercised by the estate of such Participant, or by any
person or persons who acquired the right to exercise such Option by bequest or
inheritance or by reason of the death of such Participant.

 

2

 

5.                Manner
of Exercise of Option.

 

(a)               To
the extent that the right to exercise the Option has accrued and is in effect,
the Option may be exercised in full or in part by giving written notice to the
Company stating the number of Shares exercised and accompanied by payment in
full for such Shares.  Payment shall be
made (a) in cash or by check payable to the order of the Company, (b) at
the discretion of the Compensation Committee, and so long as there is no
adverse tax or accounting impact to the Company, by delivery of Shares owned by
the Participant having a fair market value equal in amount to the exercise
price of the Option being exercised and having been held by the Participant for
at least six months, (c) at the discretion of the Compensation Committee,
by delivery of a properly executed exercise notice to the Company, together
with a copy of irrevocable instructions to a broker to deliver promptly to the
Company the amount of sale or loan proceeds to pay the exercise price, (d) at
the discretion of the Compensation Committee, by a “net exercise” arrangement
pursuant to which the Company will reduce the number of Shares issued upon
exercise by the largest whole number of Shares with a fair market value that
does not exceed the aggregate exercise price, together with cash or other
payment from the Participant to the extent of any remaining balance of the
aggregate exercise price not satisfied by such reduction in the number of whole
Shares, or (e) at the discretion of the Compensation Committee, by any
combination of (a), (b), (c) and (d) above. Upon such exercise,
delivery of a certificate for paid-up, non-assessable Shares shall be made at
the principal office of the Company to the person exercising the Option, not
more than thirty (30) days from the date of receipt of the notice by the
Company.

 

(b)              The
Company shall at all times during the term of the Option reserve and keep available
such number of Shares of its common stock as will be sufficient to satisfy the
requirements of the Option.  The
Participant shall not have any of the rights of a stockholder of the Company in
respect of the Shares until one or more certificates for such Shares shall be
delivered to him or her upon the due exercise of the Option.

 

6.                Non-Transferability.  The right of the Participant to exercise the
Option shall not be assignable or transferable by the Participant otherwise
than by will or the laws of descent and distribution, and the Option may be
exercised during the lifetime of the Participant only by him or her.  The Option shall be null and void and without
effect upon the bankruptcy of the Participant or upon any attempted assignment
or transfer, except as hereinabove provided, including without limitation any
purported assignment, whether voluntary or by operation of law, pledge,
hypothecation or other disposition contrary to the provisions hereof, or levy
of execution, attachment, trustee process or similar process, whether legal or
equitable, upon the Option.

 

7.                Representation
Letter and Investment Legend.

 

(a)               In
the event that for any reason the Shares to be issued upon exercise of the
Option shall not be effectively registered under the Securities Act of 1933
(the “1933 Act”), upon any date on which the Option is exercised in whole or in
part, the person exercising the Option shall give a written representation to
the Company in the form attached hereto as Exhibit 1 and the Company shall
place an “investment legend”, so-called, as described in Exhibit 1, upon
any certificate for the Shares issued by reason of such exercise.

 

(b)              The
Company shall be under no obligation to qualify Shares or to cause a
registration statement or a post-effective amendment to any registration
statement to be prepared for the purposes of covering the issue of Shares.

 

3

 

8.                Adjustments
on Changes in Recapitalization, Reorganization and the Like.  Adjustments on Changes in Recapitalization,
Reorganization and the Like shall be made in accordance with Section 13 of
the 2010 Plan, as in effect on the date of this Agreement.

 

9.                No
Special Rights.  Nothing contained in
the 2010 Plan or this Agreement shall be construed or deemed by any person
under any circumstances to bind the Company to continue the employment or other
relationship of the Participant for the period within which this Option may be
exercised.

 

10.              Rights
as a Shareholder.  The Participant
shall have no rights as a shareholder with respect to any Shares which may be
purchased by exercise of this Option unless and until a certificate or
certificates representing such Shares are duly issued and delivered to the
Participant.  Except as otherwise
expressly provided in the 2010 Plan, no adjustment shall be made for dividends
or other rights for which the record date is prior to the date such stock
certificate is issued.

 

11.              Withholding
Taxes.  Whenever Shares are to be
issued upon exercise of this Option, the Company shall have the right to
require the Participant to remit to the Company an amount sufficient to satisfy
all Federal, foreign, state and local withholding tax requirements prior to the
delivery of any certificate or certificates for such Shares.

 

IN WITNESS WHEREOF, the Company has caused this
Agreement to be executed and its corporate seal to be hereto affixed by its
officer thereunto duly authorized, and the Participant has hereunto set his or
her hand and seal, all as of the day and year first above written.

 

	
  PARTICIPANT

  	
   

  	
  BRUKER CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Name: 

  	
   

  	
   

  	
  Title 

  	
   

  
	
   

  	
   

  	
   

  
	
  Address: 

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
								

 

4

 

EXHIBIT 1

 

TO
STOCK OPTION AGREEMENT

 

 

Ladies and Gentlemen:

 

In connection with the exercise by me as to [     ] shares of common stock, par
value $.01 per share, of Bruker Corporation (the “Company”) under the
non-qualified stock option dated [       ], granted to me under the 2010 Incentive Compensation Plan, I
hereby acknowledge that I have been informed as follows:

 

1.             The
shares of common stock of the Company to be issued to me pursuant to the
exercise of said option have not been registered under the Securities Act of
1933, as amended (the “Act”), and accordingly, must be held indefinitely unless
such shares are subsequently registered under the Act, or an exemption from
such registration is available.

 

2.             Routine
sales of securities made in reliance upon Rule 144 under the Act can be
made only after the holding period and in limited amounts in accordance with
the terms and conditions provided by that Rule, and in any sale to which that Rule is
not applicable, registration or compliance with some other exemption under the
Act will be required.

 

3.             The
Company is under no obligation to me to register the shares or to comply with
any such exemptions under the Act.

 

4.             The
availability of Rule 144 is dependent in certain cases upon adequate
current public information with respect to the Company being available and, at
the time that I may desire to make a sale pursuant to the Rule, the Company may
neither wish nor be able to comply with such requirement.

 

In consideration of the issuance of certificates for
the shares to me, I hereby represent and warrant that I am acquiring such
shares for my own account for investment, and that I will not sell, pledge or
transfer such shares in the absence of an effective registration statement
covering the same, except as permitted by the provisions of Rule 144, if
applicable, or some other applicable exemption under the Act.  In view of this representation and warranty, I
agree that there may be affixed to the certificates for the shares to be issued
to me, and to all certificates issued hereafter representing such shares (until
in the opinion of counsel, which opinion must be reasonably satisfactory in
form and substance to counsel for the Company, it is no longer necessary or
required) a legend as follows:

 

“The shares of common stock represented by this
certificate have not been registered under the Federal Securities Act of 1933,
as amended, and were acquired by the registered holder, pursuant to a
representation and warranty that such holder was acquiring such shares for his
own account and for investment, with no intention to transfer or dispose of the
same, in violation of the registration requirements of that Act.  These shares may not be sold, pledged, or
transferred in the absence of an effective registration statement under the
Securities Act of 1933, as amended, or an opinion of 

 

 

counsel, which opinion is reasonably satisfactory to
counsel to the Company, to the effect that registration is not required under
said Act.”

 

I further agree that the Company may place a stop
order with its Transfer Agent, prohibiting the transfer of such shares, so long
as the legend remains on the certificates representing the shares.

 

	
   

  	
  Very truly yours,

  

 

2Exhibit 10.3

 

FORM OF
RESTRICTED STOCK AWARD AND AGREEMENT

 

AGREEMENT entered into this
            day of
              ,
201X by and between Bruker Corporation, a Delaware corporation with a principal
place of business in Billerica, Massachusetts (the “Company”), and the
undersigned (the “Participant”) employee, director, consultant or
advisor of the Company or one of its subsidiaries (the Company and its
subsidiaries herein together referred to as the “Company”).

 

WITNESSETH:

 

WHEREAS, the Company has granted to the Participant
and the Participant has this day received from the Company [     ]
shares of the Company’s common stock, par value $.01 per share (the “Shares”),
pursuant to the Company’s 2010 Incentive Compensation Plan (the “2010 Plan”);
and

 

WHEREAS, a condition to the grant of the Shares to the
Participant is that the Participant execute this Agreement;

 

NOW, THEREFORE, in consideration of the foregoing, the
mutual covenants contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereby agree as follows:

 

1.             Forfeiture of Shares Upon Termination of Employment.  Shares that do not become vested in
accordance with the vesting criteria set forth in Section 2 (and any
dividends or other distributions related to such Shares) shall be forfeited to
the Company.  Accordingly, if the
Participant’s employment with the Company terminates for any reason, then all
unvested Shares shall be automatically forfeited as of the date of termination,
and any rights, including, without limitation, any voting or dividend rights,
with respect to such forfeited Shares will immediately cease.

 

2.             Vesting of Shares.  So long as the Participant (a) continues
to remain as an employee or director of the Company or (b) continues to
provide significant services to the Company as a consultant or advisor, the
Shares will be deemed to become “Vested Shares” twenty percent (20%) on
each of the first five (5) anniversaries of the date of this Agreement.   The foregoing vesting schedule
notwithstanding, if the employment, directorship or other business relationship
of the Participant with the Company, as applicable, terminates by reason of the
Participant’s permanent and total disability (within the meaning of Section 22(e)(3) of
the Internal Revenue Code) or death, all Shares or portions thereof not yet
vested shall become immediately vested.

 

3.             Restrictions on Transfers.  Other than as set forth herein, Participant
shall not sell, assign, transfer, pledge, hypothecate or otherwise dispose of,
by operation of law or otherwise (collectively “transfer”), any of the Shares,
or any interest therein, unless and until such Shares are Vested Shares.

 

4.             Specific Enforcement.  The Participant expressly acknowledges that
the Company may be irreparably damaged if this Agreement is not specifically
enforced.  Upon a breach or threatened
breach of the terms, covenants or conditions of this Agreement by Participant,
the Company shall, in addition to all other remedies, be entitled to apply for
a temporary or permanent injunction, or a decree for specific performance, in
accordance with the provisions hereof.

 

5.             Legend. 
Each certificate evidencing any of the Shares shall bear a legend
substantially as follows:

 

 

“Any sale, assignment,
transfer or other disposition of, or the voting of, the shares represented by
this certificate is restricted by, and subject to, the terms and provisions of
a certain Restricted Stock Award and Agreement dated as of                         .  A copy of said Agreement is on file with the
Secretary of the Corporation.”

 

6.             Notices. 
Notices given hereunder shall be deemed to have been duly given on the
date of personal delivery or on the date of postmark if mailed by certified or
registered mail, return receipt requested, to the party being notified at his,
her or its address specified on the signature page hereto or such other
address as the addressee may subsequently notify the other parties of in
writing.

 

7.             Entire Agreement and Amendments.  This Agreement constitutes the entire
agreement of the parties with respect to the subject matter hereof and neither
this Agreement nor any provision hereof may be waived, modified, amended or
terminated except by a written agreement signed by the parties hereto.  No waiver of any breach or default hereunder
shall be considered valid unless in writing, and no such waiver shall be deemed
a waiver of any subsequent breach or default of the same or similar nature.

 

8.             Governing Law; Successors and Assigns.  This Agreement shall be governed by the
internal laws of the State of Delaware without giving effect to the conflicts
of laws principles thereof and, except as otherwise provided herein, shall be
binding upon the heirs, personal representatives, executors, administrators,
successors and assigns of the parties.

 

9.             Severability. 
If any provision of this Agreement shall be held to be illegal, invalid
or unenforceable, such illegality, invalidity or unenforceability shall attach
only to such provision and shall not in any manner affect or render illegal,
invalid or unenforceable any other provision of this Agreement, and this
Agreement shall be carried out as if any such illegal, invalid or unenforceable
provision were not contained herein.

 

10.           Captions.  Captions
are for convenience only and are not deemed to be part of this Agreement.

 

11.           Counterparts. 
This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

 

IN WITNESS WHEREOF, this Agreement has been executed
as of the date and year first above written.

 

	
   

  	
   

  	
  BRUKER CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By: 

  	
   

  	
   

  	
  By: 

  	
   

  
	
  Name: 

  	
   

  	
   

  	
   

  
	
  Address: 

  	
   

  	
   

  	
  Title: 

  	
   

  
	
   

  	
   

  	
   

  
								

 

2

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