Document:

Stock Option Agreement

 Exhibit 10.23 
 Stock Option Agreement 
 (Nonstatutory Stock Option Under 

Stericycle, Inc. [2005/2008/2011] Incentive Stock Plan) 
 Subject to the following terms, Stericycle, Inc., a Delaware corporation (the Company), grants to the following employee of the Company or one of its subsidiaries (Employee), as of the
following grant date (the Grant Date), a nonstatutory stock option (the Option) to purchase the following number of shares of the Company’s common stock, par value $.01 per share (the Option Shares), at the following
purchase price per share (the Exercise Price), exercisable in accordance with the following vesting schedule subject to the following expiration date (the Expiration Date): 

 

			
	 Employee:
	  	[name]
	 Grant date:
	  	[date], 2012
	 Number of option shares:
	  	[number]
	 Exercise price per share:
	  	$[price]
	 Vesting schedule:
	  	Full vesting as of the Grant Date
	 Expiration date of option:
	  	[date], 2022

 Terms of Option 
 1. Plan. The Option has been granted under the Stericycle, Inc. [2005/2008/2011] Incentive Stock Plan (the Plan), which is incorporated in this Agreement by reference. Capitalized terms used
in this Agreement without being defined (for example, the term “Plan Administrator”) have the same meanings that they have in the Plan. 
 2. Exercisability. The Option may be exercised in whole or in part at any time prior to the Option’s Expiration Date. Any portion of the Option that remains unexercised shall expire on the
Option’s Expiration Date. 
 The Option is subject to forfeiture and automatic cancellation as provided in the Employee
Covenant Agreement referred to in Paragraph 6 of this Agreement. In addition, Employee may be required to repay Stericycle the net proceeds from the sale of any Option Shares as also provided in the Employee Covenant Agreement. 

3. Manner of Exercise. The Option may be exercised in respect of a whole number of Option Shares (and only in respect of a whole
number) by: 
 (a) written notice of exercise to the Plan Administrator (or its designee) at the Company’s
principal executive offices (which are currently located at 28161 North Keith Drive, Lake Forest, Illinois 60045), which is received prior to the Option’s Expiration Date; together with 

 (b) full payment of the Exercise Price of the Option Shares in respect of
which the Option is exercised; and 
 (c) full payment of an amount equal to the Company’s federal, state
and local withholding tax obligation, if any, in connection with the Option’s exercise. 
 In addition, the exercise of the
Option shall be subject to any procedures and policies in effect at the time of exercise that the Plan Administrator has adopted to administer the Plan. 
 4. Manner of Payment. Employee’s payment of the Exercise Price of the Option Shares in respect of which the Option is exercised, and his or her payment of the Company’s withholding tax
obligation, if any, in connection with the exercise, shall be made by certified or bank cashier’s check or by a wire transfer of immediately available funds. 
 Payment also may be made by a “cashless” net exercise through a broker approved by the Plan Administrator for the purpose, pursuant to which the full amount due to the Company is remitted
directly by the broker from the net proceeds of the sale of a sufficient number of Option Shares. In addition, payment may be made in any other manner authorized by the Plan and specifically permitted by the Plan Administrator at the time of
exercise. 
 5. Transferability. The Option may not be transferred, assigned or pledged (whether by operation of law or
otherwise), except (i) as provided by will or the applicable laws of intestacy or (ii) in accordance with Section 5.5 of the Plan. The Option shall not be subject to execution, attachment or similar process. 

6. Employee Covenant Agreement. This Agreement and the grant of the Option are subject to Employee’s agreement to be bound by
the Employee Covenant Agreement which has been provided or made available to Employee with this Agreement. The Company would not have granted the Option to Employee without Employee’s agreement to be bound by the Employee Covenant Agreement.

 7. Interpretation. This Agreement is subject to the terms of the Plan, as the Plan may be amended, but except as
required by applicable law, no amendment of the Plan after the Grant Date shall adversely affect Employee’s rights in respect of the Option without Employee’s consent. 

If there is a conflict or inconsistency between this Agreement and the Plan, the terms of the Plan shall control. The Plan
Administrator’s interpretation of this Agreement and the Plan shall be final and binding. 
 8. No Employment
Rights. Nothing in this Agreement shall be considered to confer on Employee any right to continue in the employ of the Company or a Subsidiary or to limit the right of the Company or a Subsidiary to terminate Employee’s employment.

 9. No Stockholder Rights. Employee shall not have any rights as a stockholder of the Company in respect of any of the
Option Shares unless and until Option Shares are issued to Employee following the exercise of the Option. 

  
 2 

 10. Governing Law. This Agreement shall be governed in accordance with the laws of
the State of Illinois. 
 11. Binding Effect. This Agreement shall be binding on the Company and Employee and on
Employee’s heirs, legatees and legal representatives. 
 12. Effective Date. This Agreement shall not become
effective until Employee’s acceptance of this Agreement and agreement to be bound by the Employee Covenant Agreement. Upon such acceptance and agreement, this Agreement shall become effective, retroactive to the Grant Date, without the
necessity of further action by either the Company or Employee. 

  
 3EX-10.8

 Exhibit 10.8 
 Heska Corporation 
 2012 Management Incentive Plan 

 

	1.	The Category Percentages for the 2012 MIP are as follows: 

  

			
	 Title
	    	 Heska MIP

	 Chief Executive Officer
	    	50.0% of base pay
	 President
	    	35.0% of base pay
	 Chief Financial Officer
	    	35.0% of base pay
	 Executive Vice Presidents
	    	35.0% of base pay
	 Vice Presidents
	    	35.0% of base pay
	 Managing Directors
	    	25.0% of base pay
	 Directors
	    	25.0% of base pay

  

	2.	The Plan Allocation for the 2012 MIP is as follows: 

 50% on overall achievement of the Financial Performance Metric (“FPM”) and 50% on Strategic Growth Initiatives (“SGI”). 

 

	3.	The Key Parameters for the 2012 MIP are as follows: 

  

	 	•	 	 Pre-MIP Operating Income – 50%. 

  

	 	•	 	 Strategic Growth Initiative Milestone Achievement – 50%, as defined below. 

 

	 	•	 	 Growth Initiative A—Sales Productivity 

  

	 	•	Milestone A: Achieve a 15% year-over-year growth in revenue productivity per average direct sales headcount. 

 

	 	•	Growth Initiative B—New Product Introductions 

  

	 	•	Milestone B1: Launch a new product by end of year 2012 

  

	 	•	 Milestone B2: Launch
2nd new product by end of year 2012

  

	 	•	 Milestone B3: Launch
3rd new product by end of year 2012

 Growth Initiative B milestones can be achieved through a new product launch of any product discussed at
the December 12, 2011 meeting of the Compensation Committee of Heska Corporation’s Board of Directors: 
  

	4.	The Payout Structure for the 2012 MIP is as follows: 

  

	 	•	 	 For FPM of Pre-MIP Operating Income see the table below. 

 

	 	•	 	 For SGI, achievement of milestones and Pre-MIP Operating Income of $3,579,000, see the table below. Each milestone is worth 25% of the potential MIP
payout for SGI. 

  

	 	•	 	 Payouts for each parameter will be calculated independent of the success or failure of the other parameter. 

	 	•	 	 Maximum MIP Payout for Proposed 2012 MIP for the financial metric parameter is paid at $8,947,500 of Pre-MIP Operating Income and 100% achievement of
the five milestones for SGI. 

  

	 	•	 	 For example, 100% achievement of the SGI milestones and $3,000,000 of Pre-MIP Operating Income would pay no MIP for either category.

  

	 	•	 	 In another example, achievement of 50% of the SGI milestones and $5,368,500 of Pre-MIP Operating Income would pay MIP of $289,500 for SGI and $289,500
for FPM. 

  

	 	•	 	 Any MIP payment in excess of the Maximum MIP Payout shall be at the sole and absolute discretion of the Compensation Committee.

 Heska Corporation 
 2012 MIP Payout Table 
  

																					
	 Operating

Income
 Pre-MIP
	 	Operating
Income
Post-MIP	 	 	FPM
MIP
Payout
%	 	 	FPM
MIP
Amount	 	 	SGI Payout
Amount*	 	 	Total Payout
Amount	 
	3,579,000	 	 	3,000,000	  	 	 	0	% 	 	 	—  	  	 	 	579,000	  	 	 	579,000	  
	3,936,900	 	 	3,300,000	  	 	 	10	% 	 	 	57,900	  	 	 	579,000	  	 	 	636,900	  
	4,294,800	 	 	3,600,000	  	 	 	20	% 	 	 	115,800	  	 	 	579,000	  	 	 	694,800	  
	4,652,700	 	 	3,900,000	  	 	 	30	% 	 	 	173,700	  	 	 	579,000	  	 	 	752,700	  
	5,010,600	 	 	4,200,000	  	 	 	40	% 	 	 	231,600	  	 	 	579,000	  	 	 	810,600	  
	5,368,500	 	 	4,500,000	  	 	 	50	% 	 	 	289,500	  	 	 	579,000	  	 	 	868,500	  
	5,726,400	 	 	4,800,000	  	 	 	60	% 	 	 	347,400	  	 	 	579,000	  	 	 	926,400	  
	6,084,300	 	 	5,100,000	  	 	 	70	% 	 	 	405,300	  	 	 	579,000	  	 	 	984,300	  
	6,442,200	 	 	5,400,000	  	 	 	80	% 	 	 	463,200	  	 	 	579,000	  	 	 	1,042,200	  
	6,800,100	 	 	5,700,000	  	 	 	90	% 	 	 	521,100	  	 	 	579,000	  	 	 	1,100,100	  
	7,158,000	 	 	6,000,000	  	 	 	100	% 	 	 	579,000	  	 	 	579,000	  	 	 	1,158,000	  
	7,515,900	 	 	6,300,000	  	 	 	110	% 	 	 	636,900	  	 	 	579,000	  	 	 	1,215,900	  
	7,873,800	 	 	6,600,000	  	 	 	120	% 	 	 	694,800	  	 	 	579,000	  	 	 	1,273,800	  
	8,231,700	 	 	6,900,000	  	 	 	130	% 	 	 	752,700	  	 	 	579,000	  	 	 	1,331,700	  
	8,589,600	 	 	7,200,000	  	 	 	140	% 	 	 	810,600	  	 	 	579,000	  	 	 	1,389,600	  
	8,947,500	 	 	7,500,000	  	 	 	150	% 	 	 	868,500	  	 	 	579,000	  	 	 	1,447,500	  
	8,947,500+	 	 	7,500,000	  	 	 	Capped	  	 				 				 			

  

	*	Assumes 100% achievement of milestones.

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