Document:

EX-10.7

 Exhibit 10.7 
 AMENDED AND RESTATED 
 EMPLOYMENT AGREEMENT 

This Agreement (“Agreement”) made as of this 18th day of May, 2012 (the “Effective Date”),
between DUSA Pharmaceuticals, Inc. (the “Company”) having offices at 25 Upton Drive, Wilmington, Massachusetts 01887 and Michael J. Todisco, currently residing at 14 Bradley Road, Andover, MA 01810 (“Executive”).

 WHEREAS, the Company and Executive entered into an Employment Agreement dated September 20, 2006, as amended as of
April 10, 2008 (the “Prior Agreement”); and 
 WHEREAS, the Company and the Executive wish to enter into
this Agreement, which shall replace and supersede the Prior Agreement, in order to set forth the terms and conditions of Executive’s employment and address a termination of Executive’s employment in circumstances that are both related to
and unrelated to a Change in Control. 
 NOW THEREFORE, in consideration of the mutual covenants and promises, the parties agree
as follows: 
 1. Employment: The Company will continue to employ Executive as the Vice President, Controller of the
Company. Executive agrees to work on a full-time basis and to devote his best efforts and spend as much time and attention as is necessary to his duties to the Company. Executive shall report to the Chief Financial Officer of the Company. Executive
agrees to abide by the Company’s Business Code of Ethics and Senior Officers Code of Ethics as in force from time to time. 

2. Duties and Responsibilities: Notwithstanding any language contained herein to the contrary, Executive shall be responsible for
(by way of example and not by way of limitation): 
 A. general accounting matters including, but not limited to,
monthly corporate financial reporting to management; 
 B. preparation and coordination of SEC reporting, federal
and state tax obligations both internally with management and externally with auditors and counsel, accounts payable, payroll, general ledger processes and controls, financial system report development and control, accounting policies and
procedures; 
 C. treasury functions including, but not limited to, assist management of banking relationships,
manage and report short and long-term cash activities, insurance, stock option administration and management; and 
 D. any additional employment responsibilities as deemed appropriate by the Board of Directors and the Company’s senior management, from time to time. 

3. Term: The Prior Agreement shall cease to be effective on the Effective Date. This Agreement shall become effective on the
Effective Date and shall remain in effect through the first anniversary of the Effective Date (the “Term”); provided, however, that commencing with 

 
the first anniversary of the Effective Date, and on each anniversary thereof thereafter (each an “Extension Date”), the Term shall thereafter be automatically extended for
unlimited additional one-year periods unless, at least 30 days prior to the next Extension Date, the Company gives written notice to Executive that it is electing not to so extend the Term; and provided further, however, that in
the event of a Change in Control, the Term shall automatically be extended to the second anniversary of the Change in Control. Notwithstanding the foregoing, the Term shall be earlier terminated in the event of the termination of Executive’s
employment with the Company. 
 4. Remuneration: The Company will pay to Executive an initial base salary equal to Two
Hundred Six Thousand Five Hundred Dollars ($206,500) per annum at intervals consistent with the Company’s administrative practices, from time to time. This base salary shall be reviewed by the Board of Directors of the Company from time to
time, not less than on an annual basis, beginning in January, 2013; provided, however, that during his tenure with the Company, Executive’s base salary shall not be reduced. Any salary increases shall be determined by, and shall be made at the
sole discretion of the Board. Following the end of each fiscal year during the Term, the Board may award a cash bonus to Executive in an amount up to thirty-five percent (35%) of his current base salary for such year, to reflect the attainment
of personal and corporate goals and objectives, as determined by the Board in its sole discretion. For purposes of awarding the total amount of such bonus, mutually agreeable performance objectives will be set at the beginning of any calendar year
during his employment. The Board may, in its sole discretion, award an annual cash bonus above thirty-five percent (35%) of Executive’s then current base salary for outstanding performance. 

All salary and other payments and allowances outlined in this Agreement shall be subject to such withholding taxes and deductions as may
be required by law. 
 5. Place of Employment: Executive will operate primarily from the offices of the Company in
Wilmington, Massachusetts. Executive acknowledges, however, that there will be domestic and international travel required on a regular basis. Such travel is understood to be necessary in order to promote the business of the Company. 

6. Benefits: Executive will be entitled to participate in the medical, disability, life, and other insurance benefit plans or
pension, profit sharing, or 401K plans which may be made available to the officers and employees of the Company from time to time, subject to applicable eligibility rules thereof. 

7. Stock Options: Executive shall be entitled to participate in the Amended and Restated 2011 Equity Compensation Plan, and any
subsequent stock purchase and bonus or incentive plans that the Company shall from time to time make available to its officers and employees, subject to applicable eligibility rules thereof. 

8. Vacation: Executive shall be entitled to vacation, and use thereof, in accordance with the Company’s vacation policy.

 9. Expenses: All reasonable travel and other expenses incident to the rendering of services by on behalf of and in
promoting the interests of the Company shall be paid by the 

  
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Company, including but not limited to an automobile allowance in the amount of Nine Thousand Dollars ($9,000) per year, plus insurance up to a maximum of $1,200.00 per year and mileage
reimbursement at rates set by the Internal Revenue Service for travel relating to business of the Company. If such expenses are paid in the first instance by Executive, the Company agrees that it will reimburse him therefore upon presentation of
appropriate statements, vouchers, bills and invoices as and when required by the Company to support the reimbursement request. 

10. Confidential Information: 
 A. Executive understands that in the performance of his services hereunder he may obtain knowledge of “confidential information”, as hereinafter defined, relating to the business of the Company.
As used herein, “confidential information” means any information (whether clinical, financial, administrative or otherwise), written or oral, (including without limitation, any formula, pattern, device, method, plan, process, or
compilation of information) which (i) is, or is designed to be, used in the business of the Company or results from its research and/or development activities, or (ii) is private or confidential in that it is not generally known or
available to the public, or (iii) gives the Company an opportunity to obtain an advantage over competitors who do not know or use it. Executive shall not, without the written consent of the Board, either during the term of his employment or
thereafter, (a) use or disclose any such confidential information outside of the Company (except to consultants or other agents or representatives of the Company who are similarly bound to the Company by confidentiality obligations),
(b) publish any article with respect thereto, (c) except in the performance of his services hereunder, remove or aid in the removal from the premises of the Company any such confidential information or any property or material which
relates thereto. 
 B. Upon the termination of his employment with the Company, all documents, records, notebooks
and similar repositories of or continuing information concerning the Company, or its products, services or customers, including any copies thereof, then in Executive’s possession or under his control, whether prepared by Executive or others,
will be left with or immediately returned to the Company by Executive. 
 C.     (i)
Executive shall promptly disclose to the Company any and all prescription drug products, devices, machines, methods, inventions, discoveries, improvements, processes, works or the like (all of which are referred to herein as “inventions”)
which he may invent, conceive, produce, or reduce to practice, either solely or jointly with others, at any time (whether or not during work hours) during his employment hereunder. 

(ii) All such inventions which in any way relate to the products manufactured, sold or used by the Company or to any
methods, processes or apparatus used in connection with the manufacture of such products or treatment of disease or conditions, or in either case which are or may be or may become capable of use in the business of the Company, shall at all times and
for all purposes be regarded as acquired and held by in a fiduciary capacity for, solely for the benefit of, the Company. 

  
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 (iii) With respect to all such inventions, Executive shall: 

(a) treat all information with respect thereto as confidential information within the meaning of, and subject to
Section 10 above; 
 (b) keep complete and accurate records thereof, which records shall be the property of
the Company; 
 (c) execute any application for letters patent of the United States and of any and all other
countries covering such inventions, and give to the Company, its attorneys and solicitors all reasonable and requested assistance in preparing such application; 

(d) from time to time, upon the request and at the expense of the Company, but without charge for services beyond the
salary paid to him by the Company, execute all assignment or other instruments required to transfer and assign to the Company (or as it may direct) all inventions, and all patents and applications for patents, copyrights or applications for
registration of copyrights, covering such inventions or otherwise required to protect the rights and interests of the Company; 
 (e) testify in any proceedings or litigation as to all such inventions; and 
 (f) in case the Company shall desire to keep secret any such invention, or shall for any reason decide not to have letters patent applied for thereon, refrain from applying for letters patent thereon.

 D. Notwithstanding any of the foregoing in this section, information, whether confidential or proprietary or
not, shall be exempt from the above confidentiality provisions if said information: 
  

	 	(i)	is known to Executive prior to his employment with the Company; 

  

	 	(ii)	is in the public domain on the date of employment; 

  

	 	(iii)	becomes public at any time through no fault of Executive; or 

  

	 	(iv)	is or becomes readily available from third parties who have no confidentiality obligations to the Company. 

E. If Executive’s employment is terminated by the Company, Executive shall not, without the express prior written
consent of the Company, directly, or indirectly, during the term of this Agreement or for a period of one (1) year after its termination, render services, or engage in activity including but not limited to, the activities engaged

  
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in by Executive during his employment with the Company, or any similar activity, for any company which activity relates to the development or sale of photodynamic therapy (“PDT”) or
photodetection (“PD”) products directly competitive (i.e., medically or therapeutically) with the Company’s products or compounds or mixtures thereof. Such restriction shall apply whether the Executive is acting alone or as a partner,
officer, director, employee or shareholder of any other corporation, or as a trustee, fiduciary, consultant or other representative of any other company. This restriction shall not apply if Executive has disclosed to the Company, in writing, all the
known facts relating to such work or activity and has received a release, in writing from the Company, to engage in such work or activity. The making of passive and personal investments and the conduct of private business affairs shall not be
prohibited hereunder. Ownership by of five percent (5%) or less of the outstanding shares of stock of any corporation either (i) listed on a national securities exchange or (ii) having at least 100 stockholders shall not make
Executive a “stockholder” within the meaning of that term as used in this Section, so long as Executive has no participation in the management of such corporation. Executive shall not solicit or hire, directly or indirectly, any employee
of the Company for a period of two (2) years after the date of termination of his employment to perform any such activities for his own benefit or the benefit of any new employer. 

F. In the event of a breach or threatened breach of this Section 10, Executive agrees that the Company shall be
entitled to injunctive relief in a court of appropriate jurisdiction to remedy any such breach or threatened breach as Executive acknowledges that damages would be inadequate and insufficient. 

11. Termination of Employment: 
 A. The Company may terminate Executive’s employment at any time, with or without Cause, on thirty (30) days prior written notice. 

B. For purposes of this Agreement, the following terms will have the meanings set forth below: 

(i) “Cause” shall mean (a) Executive’s physical or mental disability or other inability to
perform the duties of his job for any reason for a period in excess of six (6) consecutive months, (b) Executive’s conviction in a court of law of a crime or offense, which conviction would prevent Executive from effective management
of the Company or materially adversely affect the reputation of the Company, as determined by the Board in its sole discretion, exercising its reasonable judgment in good faith, or (c) Executive’s malfeasance or misconduct such as fraud,
embezzlement, dishonesty, acts of moral turpitude, or a felony conviction. 
 (ii) “Good Reason”
shall mean the occurrence of any one of the following events without either (x) Executive’s express prior written consent or (y) full cure within 30 days after Executive gives written notice to the Company, which notice is to be given
by Executive within 90 days of the event(s) giving rise to the claimed “Good Reason”: (a) a reduction in Executive’s Salary; (b) a 

  
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material diminution of the role and responsibility of Executive, including but not limited to a change in Executive’s position from an executive of a publicly traded company to the same
title and role at a subsidiary; or (c) the relocation of Executive’s principal office, or principal place of employment, to a location more than fifty (50) miles from his principal office or principal place of employment on the
Effective Date; provided however, that no event shall constitute grounds for a Good Reason termination unless Executive terminates his employment within one year after such event occurs. 

(iii) “Salary” shall mean Executive’s per annum base salary in effect on the relevant date.

 (iii) ‘Termination Date” shall mean the date on which Executive’s employment hereunder
terminates in accordance with this Agreement. 
 C. Termination for Cause: In the event of a termination for
Cause during the Term, Executive shall be paid his earned but unpaid Salary through the Termination Date. Nothing contained herein shall be interpreted to impair or otherwise affect the right of the Company to terminate Executive’s employment,
at will, with or without good cause. 
 D. Termination by the Company without Cause or by Executive for Good
Reason: If Executive’s employment is terminated by the Company without Cause, is due to non-renewal of the Term by the Company, or Executive terminates his employment for Good Reason during the Term, Executive shall be entitled to the
following: 
 (i) an amount equal to one and one-half (1.5) times the sum of (a) Executive’s then
current Salary and (b) thirty-five percent (35%) of the Salary, paid in a lump sum within sixty (60) days following the Termination Date; 
 (ii) an amount equal to all outstanding vacation pay and any earned but unpaid salary or bonuses to the date of such termination, paid within two (2) weeks of the Termination Date and reimbursement
for any business expense incurred by Executive up to and including the Termination Date following provision by of all applicable and necessary receipts (the “Accrued Obligations”); and 

(iii) continued medical, life insurance, disability and other benefits to the same extent in which he participated prior
to the Termination Date until the earlier to occur of eighteen (18) months following the Termination Date or the day Executive becomes eligible for and receives similar benefits with a new employer; and 

(iv) if the Executive was terminated after June 30 of a given year (the “Performance Year”) and before the
date in the year following the Performance Year on which annual bonuses, if any, with respect to such Performance Year are or would be paid to similarly situated executives (the “Bonus Payment Date”), a single sum payment in an amount
equal to (and in lieu of) any annual bonus, if 

  
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any, to which the Executive would be entitled for the Performance Year had the Executive been employed through the Bonus Payment Date; provided, however that such payment shall be (a) pro
rated based on the portion of the Performance Year during which the Executive was actually employed by the Company; (b) calculated based upon actual Company performance, as determined in the Committee’s sole discretion, and assuming that
the target level of individual performance was achieved by the Executive for the Performance Year; and (c) paid on the date on which bonuses for the Performance Year, if any, are paid to similarly situated executives, but not later than
March 15 of the year following the Performance Year or as soon as administratively possible thereafter. 

E. Termination upon Death: Executive’s employment with the Company will cease and this Agreement will terminate
without further compensation upon Executive’s death during the Term. Upon his death, Executive’s estate will be entitled to any Company paid death benefit in force at the time of such death. In addition, Executive’s estate shall be
paid any cash bonus to which he would have been entitled under Section 4 above (i.e. the bonus opportunity), such amount determined based on actual Company performance, pro-rated to the date of Executive’s death, and paid when bonuses are
paid to other participants. Likewise, Executive’s beneficiaries as designated by him to the Company shall be entitled to receive the Accrued Obligations, and will be entitled to exercise any vested but unexercised stock options that were held
by Executive at the time of his death, subject to the terms and conditions of such stock options. 
 F.
Resignation without Good Reason: Executive will provide the Company with one (1) month minimum advance notice, in writing, of his resignation from the Company. 
 12. Change of Control: In the event that within two years following a Change in Control Executive terminates his employment hereunder with Good Reason or the Company terminates Executive’s
employment hereunder without Cause during the Term, then, in lieu of the payments otherwise due to Executive under Section 11 above, Executive shall be entitled to: 

A. a lump sum payment equal to two (2) times the sum of (i) Executive’s Salary during the fiscal year
immediately preceding the year in which the Termination Date occurs and (ii) thirty-five percent (35%) of such Salary, such payment to be made on the 60th day following the Termination Date; 

B. the Accrued Obligations; 
 C. continued medical, life insurance and benefits to the same extent in which he participated prior to the Termination Date until the earlier to occur of eighteen (18) months following the
Termination Date or the day Executive becomes eligible for and receives similar benefits with a new employer; 

D. reimbursement for reasonable legal fees (not to exceed $50,000) relating to the review and negotiation of the
Executive’s employment agreement, separation agreement, and/or consulting agreement entered into in connection with (or as a consequence of) a Change in Control; and 

  
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 E. if acceleration has not already occurred upon a Change of Control, all
outstanding stock options shall automatically accelerate and become fully exercisable and all restrictions and conditions on all outstanding stock awards and other equity based awards shall immediately lapse as of the date of the Executive’s
termination of employment. 
 For the purposes hereof, “Change in Control” shall mean a change in control of a
nature that would be required to be reported in response to Item 5 of Schedule 14D promulgated pursuant to section 14 of the Securities Exchange Act of 1934, as amended (the “1934 Act”), whether or not the Company is then
subject to such reporting requirements; provided that, without limitations, such a change in control shall be deemed to have occurred if (i) any person other than a trustee or other fiduciary holding securities under an employee benefit plan of
the Company is or becomes the beneficial owner, directly or indirectly, of securities of the Company representing thirty percent (30%) or more of the combined voting power of the Company’s then outstanding securities and thereafter the
Board adopts a resolution to the effect that, for the purposes of this Agreement, a change in control of the Company has occurred; such ownership shall be defined pursuant to Rule 13d-3 of the 1934 Act and includes mergers or acquisitions whereby an
outside party has in excess of thirty percent (30%) of the combined voting power; (ii) when the Company merges or consolidates with any other person or, entity other than a subsidiary and, upon consummation of such transaction own less
than fifty percent (50%) of the equity securities of the surviving or consolidated entity; or (iii) a substantial portion of the assets of the Company are sold or transferred to another person or entity; provided that in no event will a
Change in Control be deemed to have occurred unless such Change in Control qualifies as a change in control under Section 409A of the Code and the regulations promulgated thereunder. 

13. Release: Executive’s entitlement to the payments described in Section 11.D and 12 are expressly contingent upon
Executive first providing the Company with a signed general release of claims in favor of the Company in a form provided by the Company (the “Release”) and not revoking such Release for a period of seven days after its execution or
thereafter. In order to be effective, such Release must be delivered by Executive to the Company no later than forty-five (45) days following the Termination Date. 
 14. Modification of Payments: 
 A. In the event it shall be
determined that any payment, right or distribution by the Company or any other person or entity to or for the benefit of Executive pursuant to the terms of this Agreement or otherwise, in connection with, or arising out of, his employment with the
Company or a change in ownership or effective control of the Company or a substantial portion of its assets (a “Payment”) is a “parachute payment” within the meaning of Section 280G of the Code on account of the aggregate
value of the Payments due to Executive being equal to or greater than three times the “base amount,” as defined in Section 280G(b)(3) of the Code, (the base amount hereinafter being referred to as the “Base Amount”) so that
Executive would be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”) and the net after-tax benefit that 

  
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Executive would receive by reducing the aggregate Payments to an amount equal to 2.99 times the Base Amount is greater than the net after-tax benefit Executive would receive if the full amount of
the Payments were paid to Executive, then the Payments payable to Executive shall be reduced (but not below zero) so that the aggregate Payments due to Executive do not exceed an amount equal to 2.99 times the Base Amount, reducing first any cash
Payments and thereafter any equity or equity-based Payments. 
 B. All determinations required to be made under
this Section 14, including whether any Payment is a “parachute payment” and the assumptions to be utilized in arriving at such determination, shall be made by a nationally recognized accounting firm designated by the Company which is
not the auditor of the Company or another party involved in the Change in Control (the “Accounting Firm”) and shall be based upon “substantial authority” (within the meaning of Section 6662 of the Code). The
Accounting Firm shall provide detailed supporting calculations both to the Company and Executive within 15 business days of the receipt of notice from the Company or Executive that there has been a Payment, or such earlier time as is requested by
the Company. All fees and expenses of the Accounting Firm shall be borne by the Company. Any determination by the Accounting Firm shall be binding upon the Company and Executive. 

15. Other Tax Matters: 
 A. The Company shall withhold all applicable federal, state and local taxes, workers’ compensation contributions and other amounts as may be required by law with respect to compensation payable to
Executive pursuant to this Agreement. 
 B. Notwithstanding anything herein to the contrary, this Agreement is
intended to be interpreted and applied so that the payment of the benefits set forth herein shall either be exempt from the requirements of Section 409A of the Code (“Section 409A”) or shall comply with the requirements of such
provision. Notwithstanding any provision of this Agreement to the contrary, if Executive is a “specified employee” (within the meaning of Section 409A), any payments or arrangements due upon a termination of Executive’s
employment under any arrangement that constitutes a “nonqualified deferral of compensation” (within the meaning of Section 409A) and which do not otherwise qualify under the exemptions under Treas. Regs. Section 1.409A-1
(including without limitation, the short-term deferral exemption or the permitted payments under Treas. Regs. Section 1.409A-1(b)(9)(iii)(A)), shall be delayed and paid or provided on the earlier of (i) the date which is six months after
Executive’s “separation from service” (as such term is defined in Section 409A and the regulations and other published guidance thereunder) for any reason other than death, and (ii) the date of Executive’s death.

 C. After any Termination Date, Executive shall have no duties or responsibilities that are inconsistent with
having a “separation from service” (within the meaning of Section 409A) as of the Termination Date and, notwithstanding anything in the Agreement to the contrary, distributions upon termination of employment of nonqualified deferred
compensation may only be made upon a “separation from service” 

  
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(as determined under Section 409A) and such date shall be the Termination Date for purposes of this Agreement. Each payment under this Agreement or otherwise shall be treated as a separate
payment for purposes of Section 409A. In no event may Executive, directly or indirectly, designate the calendar year of any payment to be made under this Agreement which constitutes a “nonqualified deferral of compensation” (within
the meaning of Section 409A) and to the extent an amount is payable within a time period, the time during which such amount is paid shall be in the discretion of the Company. 

D. Any amounts otherwise payable to Executive following a termination of employment that are not so paid by reason of this
Section 15 shall be paid as soon as practicable following, and in any event within thirty (30) days following, the date that is six (6) months after Executive’s separation from service (or, if earlier, the date of
Executive’s death) together with interest on the delayed payment at the greater of 5% or the Company’s cost of borrowing. All reimbursements and in-kind benefits provided under this Agreement shall be made or provided in accordance with
the requirements of Section 409A. 
 E. To the extent that any reimbursements are taxable to Executive, any
reimbursement payment due to Executive shall be paid to Executive on or before the last day of Executive’s taxable year following the taxable year in which the related expense was incurred. The reimbursements are not subject to liquidation or
exchange for another benefit and the amount of such reimbursements that Executive receives in one taxable year shall not affect the amount of such reimbursements that Executive receives in any other taxable year. 

16. Indemnification: The Company will, to the extent permitted by the laws of the State of New Jersey, indemnify Executive against
any actual or threatened action, suit or proceeding, whether civil, criminal, administrative or investigative, that arises as a consequence of his duties as an employer and officer of the Company. Such indemnification will include such expenses as
attorneys fees, judgments, fines and amounts awarded or agreed to in settlement, provided that Executive acted legally and in good faith, or reasonably believed that his actions were legal and performed in good faith. The termination of any action,
suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendre shall not, of itself, create a presumption that his actions were illegal or not performed in good faith. 

The Company shall maintain its Director’s and Officer Insurance to cover the corporate indemnity. The Directors and Officer Policy
shall also include an employment practices liability endorsement and the policy will survive his death. 
 17. Assistance
with Post-Employment Matters: Executive shall upon reasonable notice, furnish such information and proper assistance to the Company as it may reasonably require in connection with (i) any litigation in which it is, or may become, a party
either during or after Executive’s employment, or (ii) any other matter of which Executive has knowledge. If such assistance is needed after Executive’s employment with the Company, Executive shall be reimbursed for reasonable and
customary fees and expenses in connection with such assistance. 

  
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 18. Provisions Operating Following Termination: Notwithstanding any termination of
Executive’s employment with or without Cause, any provision of this Agreement necessary to give it efficacy shall continue in full force and effect following such termination. 

19. Notices: Any notice to be given in connection with this Agreement shall be given in writing and may be given by personal
delivery, by certified mail, postage prepaid, or by facsimile transmission, so long as receipt of such transmission is available, addressed to the recipient as follows: 

 

	 	To:	Michael J. Todisco 

 14 Bradley
Road 
 Andover, MA 01810 
  

	 	To:	DUSA Pharmaceuticals, Inc. 

 25
Upton Drive 
 Wilmington, Massachusetts 01887 
 Attention: Robert F. Doman 
 or to such other address or individual as may be designated by notice
by either party to the other. Any notice given by personal delivery shall be deemed to have been given on the day of actual delivery and, if made or given by certified mail, on the third day, other than a Saturday or Sunday following the deposit
thereof with the U.S. Postal Service. 
 20. Governing Law: This Agreement shall be governed by and construed in
accordance with the laws of the Commonwealth of Massachusetts. The parties hereby agree that any litigation arising from disputes regarding the subject matter of this Agreement shall be brought in United States federal district court in the judicial
district encompassing Boston, Massachusetts or Massachusetts state courts. The parties hereby expressly consent to venue and jurisdiction in such courts. 
 21. Benefit of Agreement: This Agreement shall inure to the benefit of and be binding upon the heirs, executives, administrators and legal personal representatives of Executive and to and upon the
successors and assigns of the Company, respectively. 
 22. Entire Agreement: This Agreement constitutes the entire
agreement between the parties hereto with respect to the terms and conditions of employment of Executive and cancels and supersedes any prior understandings and agreements between the parties to this Agreement. There are no representations,
warranties, forms, conditions, undertakings or collateral agreements expressed, implied or statutory between the parties hereto other than as expressly set forth in this Agreement. 

23. Severability: Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and
valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect
any other provision of any other jurisdiction but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. 

  
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 24. Amendments and Waivers: Any provision of this Agreement may be amended or waived
only with prior written consent of the Company and Executive. 
 [SIGNATURE PAGE TO FOLLOW] 

  
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 IN WITNESS WHEREOF, the parties have duly executed this Agreement. 

 

			
	DUSA Pharmaceuticals, Inc.
		
	By:	 	 /s/ Robert F. Doman

		 	 Robert F. Doman, President and
 Chief Executive Officer

	
	Dated: May 18, 2012
	
	EXECUTIVE:
		
	By:	 	 /s/ Michael J. Todisco

		 	Michael J. Todisco
	
	Dated: May 18, 2012

  
 - 13 -EX-10.1

 Exhibit 10.1 

 

			
	

	  	 Gardner Denver, Inc.

Nonemployee Director
 Restricted Stock
Unit Agreement

  

									
	 RECIPIENT:
	 	 RS UNITS:
	 	 DATE OF

AWARD:
	 	 VEST

DATE:
	 	 EXPIRATION

DATE:

	 << Name>>
	 	<<Shares>>	 	May 2, 2012	 	May 2, 2013	 	N/A

 This Nonemployee Director Restricted Stock Unit Agreement is made between Gardner Denver, Inc., a Delaware corporation
(the “Company”), and the undersigned, a Director of the Company or a subsidiary of the Company (the “Director”). 
 WITNESSETH: 
 WHEREAS, the Management Development and Compensation Committee of the Board of
Directors of the Company (the “Committee”) desires to benefit the Company by increasing motivation on the part of the Director by creating an incentive to remain a Director of the Company and to work to the very best of the Director’s
abilities; and 
 WHEREAS, to further this purpose, the Company desires to make an Award of restricted stock units to the Director under the
terms of the Gardner Denver, Inc. Long-Term Incentive Plan, as amended and restated (the “Plan”); and 
 WHEREAS, pursuant to official
action of the Committee on the date of award specified above (the “Date of Award”), the Company undertook to grant the Award contemplated by this Agreement to the Director. 
 NOW, THEREFORE, in consideration of the premises, and of the mutual agreements hereinafter set forth, it is covenanted and agreed as follows: 
 1. Grant of Restricted Stock Units. Pursuant to the terms of the Plan the Director is hereby awarded restricted stock units covering <<Shares>> shares of the Common Stock (the
“RS Units”). On any day, the value of an RS Unit shall equal the Fair Market Value of one share of Common Stock. All of the RS Units shall be subject to the prohibition on the transfer of the RS Units and the obligations to forfeit the RS
Units to the Company as set forth in Section 3 paragraph (c) of this Agreement. 
 2. Effect of the Plan. The RS Units awarded
to the Director are subject to all of the terms and conditions of the Plan, a copy of which has been provided to the Director, which terms and conditions are incorporated herein for all purposes, and of this Agreement together with all rules and
determinations from time to time issued by the Committee and by the Board pursuant to the Plan. In the event of any inconsistency or conflict between the terms of the Plan and those of this Award, the terms of the Plan shall prevail. The Company
hereby reserves the right to amend, modify, restate, supplement or terminate the Plan without the consent of the Director, so long as such amendment, modification, restatement or supplement shall not materially reduce the rights and benefits
available to the Director hereunder, and this Award shall be subject, without further action by the Company or the Director, to such amendment, modification, restatement or supplement unless provided otherwise therein. Capitalized terms used but not
defined in this Agreement shall have the meanings ascribed to such terms in the Plan. 

 3. Restrictions. The Director hereby accepts the Award of the RS Units and agrees with respect
thereto as follows: 
 (a) No Transfer. Unless otherwise determined by the Committee and provided in this Agreement or
the Plan, the RS Units shall not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred except by will or the laws of descent and distribution. Any attempted assignment of an RS Unit in violation of this Agreement shall be null
and void. The Company shall not be required to honor the transfer of any RS Units that have been sold or otherwise transferred in violation of any of the provisions of this Agreement or the Plan. 

(b) Arbitration. The Company and Director agree that any claim, dispute or controversy arising under or in connection with this
Agreement (including, without limitation, any such claim, dispute or controversy arising under any federal, state or local statute, regulation or ordinance or any of the Company’s Director benefit plans, policies or programs) shall be resolved
solely and exclusively by binding arbitration. The arbitration shall be held in the city of Philadelphia (or at such other location as shall be mutually agreed by the parties). The arbitration shall be conducted in accordance with the Expedited
Employment Arbitration Rules (the “Rules”) of the American Arbitration Association (the “AAA”) in effect at the time of the arbitration, except that the arbitrator shall be selected by alternatively striking from a list of five
arbitrators supplied by the AAA. All fees and expenses of the arbitration, including a transcript if either requests, shall be borne equally by the parties. If the Director prevails as to any material issue presented to the arbitrator, the entire
cost of such proceedings (including, without limitation, Director’s reasonable attorneys’ fees) shall be borne by the Company. If the Director does not prevail as to any material issue, each party will pay for the fees and expenses of its
own attorneys, experts, witnesses, and preparation and presentation of proofs and post-hearing briefs (unless the party prevails on a claim for which attorney’s fees are recoverable under the Rules). Any action to enforce or vacate the
arbitrator’s award shall be governed by the Federal Arbitration Act, if applicable, and otherwise by applicable state law. If either the Company or the Director pursues any claim, dispute or controversy against the other in a proceeding other
than the arbitration provided for herein, the responding party shall be entitled to dismissal or injunctive relief regarding such action and recovery of all costs, losses and attorney’s fees related to such action. Notwithstanding the
provisions of this paragraph, either party may seek injunctive relief in a court of competent jurisdiction, whether or not the case is then pending before the panel of arbitrators. Following the court’s determination of the injunction issue,
the case shall continue in arbitration as provided herein. 
 (c) Forfeiture of RS Units. If (i) the Director
terminates service with the Company prior to the date on which he or she becomes vested in the RS Units pursuant to paragraph (d) of this Section 3 for any reason other than the Director’s death, Disability or Retirement, or
(ii) the Director (or the Director’s estate) shall initiate a legal proceeding against the Company in connection with this Agreement (including, without limitation, any such claim, dispute or controversy arising under any federal, state or
local statute, regulation or ordinance or any of the Company’s director benefit plans, policies or programs) other than pursuant to the terms of Arbitration Procedure described in paragraph (b) of this Section 3, then the Director (or
the Director’s estate, as applicable) shall, for no consideration, forfeit such unvested RS Units; provided, however, that the Committee or its designee may, in the Committee’s or the designee’s sole and absolute discretion, as
applicable, and to the extent consistent with Code Section 409A, provide for the acceleration of the vesting of the RS Units, in whole or in part, on a pro rata basis, or otherwise, or not at all, eliminate or make less restrictive any
restrictions contained in this Agreement, waive any restriction or other provision of the Plan or this Agreement or otherwise amend or modify this Agreement in any manner that is either (i) not adverse to the Director, or (ii) consented to
by the Director; provided, however that the Committee shall not reduce the vesting period to less than twelve months. 
 (d)
Vesting of RS Units. If the Director provides continuous service to the Company and its Subsidiaries, as determined by the Committee or its designee, in the Committee’s or the designee’s sole and absolute discretion, as applicable,
[until the [first] [third] anniversary of the Date of Award, the Director shall vest in one hundred percent (100%) of the RS Units (“Vesting Anniversary”)] [OR] [until the first anniversary of the Date of Award, the Director shall
vest in [33 1/3%] of the aggregate number of RS Units specified above, which percentage shall increase to [66 2/3%] of such number on the second anniversary of the Date of Award and [100%] of such number on the third anniversary of the Date of Award
(each such anniversary, a “Vesting Anniversary”)]. 
 (e) Vesting upon Death or Disability. Upon the
Director’s death or Disability, the Director shall vest in and have a non-forfeitable right to one hundred percent (100%) of the RS Units. 

  
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 (f) Vesting Upon Retirement. If the Director’s cessation of service with the
Company is on account of Retirement prior to the date on which the Director becomes fully vested in his RS Units, the Director shall vest in and have, subject to the other provisions of this Agreement, a right in the RS Units at the same time and to
the same extent such RS Units would have otherwise vested if the Director had continuously performed services for the Company. For purposes of this Restricted Stock Unit Agreement, “Retirement” means cessation of service following a
Participant’s attainment of age 72.  
 (g) Vesting upon a Change in Control. If a Change in Control
occurs during the term of this Agreement, the Director shall vest in and have a non-forfeitable right to one hundred percent (100%) of the RS Units, as provided pursuant to Section 21 of the Plan. 

(h) Rights. RS Units represent an unsecured promise of the Company to issue shares of Common Stock of the Company as otherwise
provided in this Agreement. Other than the rights provided in this Agreement, the Director shall have no rights of a stockholder of the Company until such RS Units have vested and the related shares of Common Stock have been issued pursuant to the
terms of this Agreement. 
 (i) Issuance of Common Stock. The Company will issue to the Director the shares of Common
Stock underlying the vested RS Units on the earliest of (i) [the] [OR] [each applicable] Vesting Anniversary (but only with respect to such RS Units that were scheduled to vest on such Vesting Anniversary under Section 3(d)), (ii) a
Change in Control (provided such event qualifies as a change in control event within the meaning of Section 409A of the Code), or (iii) the Director’s death or Disability (provided such event qualifies as a disability within the
meaning of Section 409A of the Code). In the event of the Director’s death after vesting and before issuance of his or her shares, such shares of Common Stock shall be distributed to the Director’s beneficiary designated by the
Director on such form and in such manner as may be prescribed by the Company or, if the Director fails to designate a beneficiary in accordance with the foregoing, to the Director’s surviving spouse or, if there is no surviving spouse, in equal
shares to the Director’s surviving children or, if there are no surviving children, to the Director’s estate. Evidence of the issuance of the shares of Common Stock pursuant to this Agreement may be accomplished in such manner as the
Company or its authorized representatives shall deem appropriate including, without limitation, electronic registration, book-entry registration or issuance of a certificate or certificates in the name of the Director or in the name of such other
party or parties as the Company and its authorized representatives shall deem appropriate. 
 (j) Dividend Equivalent
Rights. If the Company declares and pays a cash dividend on shares of Common Stock, then, on the dividend payment date, the Company will credit to a bookkeeping account in the name of each person who holds RS Units, an amount equal to the
dividend the holder would have received on the dividend payment date if the shares covered by his or her RS Units (held on both the dividend record date and the dividend payment date) had been issued and outstanding. The amount of the cash dividend
equivalent credited to an individual’s account will become vested, without interest, if at all, when the corresponding RS Units become vested and the vested amount of such cash dividend equivalent will be payable to such individual at the same
time the corresponding RS Units become payable. In the event the shares of Common Stock issued pursuant to this Agreement remain subject to any additional restrictions, the Company and its authorized representatives shall ensure that the Director is
prohibited from entering into any transaction, which would violate any such restrictions, until such restrictions lapse. 
 4. Specified
Employee Delay. Notwithstanding anything herein to the contrary, in the event that the Director qualifies as a provider and is determined to be a specified employee within the meaning of Section 409A of the Code, issuance of shares of
Common Stock or other payment on account of a separation from service shall be made on the first payroll date which is more than six months following the date of the Director’s separation from service to the extent required to avoid any adverse
tax consequences under Section 409A of the Code. 
 5. Community Interest of Spouse. The community interest, if any, of any spouse
of the Director in any of the RS Units shall be subject to all of the terms, conditions and restrictions of this Agreement and the Plan, and shall be forfeited and surrendered to the Company upon the occurrence of any of the events requiring the
Director’s interest in such RS Units to be so forfeited and surrendered pursuant to this Agreement. 
 6. Binding Effect. This
Agreement shall be binding upon and inure to the benefit of any successors to the Company and all persons lawfully claiming under the Director. 

  
 3 

 7. Tax Matters. The Director acknowledges that the tax consequences associated with the Award are
complex and that the Company has urged the Director to review with the Director’s own tax advisors the federal, state, and local tax consequences of this Award. The Director is relying solely on such advisors and not on any statements or
representations of the Company or any of its agents. The Director understands that the Director (and not the Company) shall be responsible for the Director’s own tax liability that may arise as a result of this Agreement. 

 8. No Right to Continued Service. Nothing in this Agreement shall be deemed to create any limitation or restriction on such rights as
the Company otherwise would have to terminate the service of the Director. For purposes of this Agreement, performance of services for a parent or subsidiary of or a successor to the Company shall be considered performance of services for the
Company. 
 9. Committee Discretion. The Committee shall have authority, subject to the express provisions of the Plan, to construe this
Agreement and the Plan, to establish, amend and rescind rules and regulations relating to the Plan, and to make all other determinations in the judgment of the Committee necessary or desirable for the administration of the Plan. The Committee may
correct any defect or supply any omission or reconcile any inconsistency in the Plan or in this Agreement in the manner and to the extent it shall deem expedient to carry the Plan into effect. All action by the Committee under the provisions of this
paragraph shall be conclusive for all purposes. 
 10. Governing Law. This Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of Delaware without reference to its principles of conflict of laws. 
 11. Entire Agreement. This
Agreement sets forth the entire agreement, and supersedes all other agreements and understandings, whether oral or written, by and between the parties relating to the subject matter hereof. 
 12. Severability. In the event any provision of this Agreement is found to be unlawful, void or unenforceable, the remaining provisions of this Agreement shall remain in force and valid.

 THE DIRECTOR ACKNOWLEDGES AND AGREES THAT THE RS UNITS SUBJECT TO THIS AWARD SHALL VEST AND THE RESTRICTIONS RESULTING IN THE FORFEITURE OF
THE RS UNIT SHALL LAPSE, IF AT ALL, ONLY DURING THE PERIOD OF DIRECTOR’S SERVICE TO THE COMPANY OR AS OTHERWISE PROVIDED IN THIS AGREEMENT (NOT THROUGH THE ACT OF BEING GRANTED THE RS UNITS). THE DIRECTOR FURTHER ACKNOWLEDGES AND AGREES THAT
NOTHING IN THIS AGREEMENT OR THE PLAN SHALL CONFER UPON DIRECTOR ANY RIGHT WITH RESPECT TO FUTURE AWARDS OR CONTINUATION OF DIRECTOR’S SERVICE TO THE COMPANY. The Director acknowledges receipt of a copy of the Plan, represents that he or she is
familiar with the terms and provisions thereof, and hereby accepts the Restricted Stock Unit Award subject to all of the terms and provisions hereof and thereof, including the mandatory Dispute Resolution Procedure. The Director has reviewed this
Agreement and the Plan in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement, and fully understands all provisions of this Agreement and the Plan. 

THE DIRECTOR ACKNOWLEDGES AND UNDERSTANDS THAT THIS AGREEMENT CONTAINS A BINDING ARBITRATION PROVISION THAT MAY BE ENFORCED BY THE PARTIES. 

[Signature page follows] 

  
 4 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by an authorized
officer and the Director has executed this Agreement, all as of the date first above written. 
  

			
	GARDNER DENVER, INC.
		
	By:	 	  

		
	Title:	 	  

	
	DIRECTOR
		
	Signed:	 	  

		
	Dated:

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