SEC Contract Filing

Filing Date: 2017-06-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>v469811_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<HEAD>
 <TITLE></TITLE>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.3</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">NON-QUALIFIED
STOCK OPTION AGREEMENT<BR>
FOR COMPANY EMPLOYEES<BR>
UNDER THE TRANSGENOMIC, INC.<BR>
2017 STOCK OPTION AND INCENTIVE PLAN</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
 <TD STYLE="width: 36%; padding: 0; text-indent: 0">Name of Optionee:</TD>
 <TD STYLE="width: 32%; padding: 0; text-indent: 0; border-bottom: Black 1pt solid">&nbsp;</TD>
 <TD STYLE="width: 32%; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
 <TD STYLE="padding: 0; text-indent: 0">No. of Option Shares:</TD>
 <TD STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid">&nbsp;</TD>
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
 <TD STYLE="padding: 0; text-indent: 0">Option Exercise Price per Share:</TD>
 <TD STYLE="padding: 0; text-decoration: none; text-indent: 0; border-bottom: Black 1pt solid">$</TD>
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
 <TD STYLE="padding: 0; text-indent: 0"><B>[FMV on Grant Date]</B></TD>
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
 <TD STYLE="padding: 0; text-indent: 0">Grant Date:</TD>
 <TD STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid">&nbsp;</TD>
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
 <TD STYLE="padding: 0; text-indent: 0">Expiration Date:</TD>
 <TD STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid">&nbsp;</TD>
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
 <TD STYLE="padding: 0; text-indent: 0"><B>[up to 10 years from the Grant Date]</B></TD>
 <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the Transgenomic, Inc. 2017
Stock Option and Incentive Plan as amended through the date hereof (the &ldquo;Plan&rdquo;), Transgenomic, Inc. (the &ldquo;Company&rdquo;)
hereby grants to the Optionee named above an option (the &ldquo;Stock Option&rdquo;) to purchase on or prior to the Expiration
Date specified above all or part of the number of shares of Common Stock, par value $0.01 per share (the &ldquo;Stock&rdquo;) of
the Company specified above at the Option Exercise Price per Share specified above subject to the terms and conditions set forth
herein and in the Plan. This Stock Option is not intended to be an &ldquo;incentive stock option&rdquo; under Section 422 of the
Internal Revenue Code of 1986, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercisability
Schedule</U>. No portion of this Stock Option may be exercised until such portion shall have become exercisable. Except as set
forth below, and subject to the discretion of the Administrator (as defined in Section&nbsp;2 of the Plan) to accelerate the exercisability
schedule hereunder, this Stock Option shall be exercisable with respect to the following number of Option Shares on the dates indicated
so long as Optionee remains an employee or service provider of the Company or a Subsidiary on such dates:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
 <TD STYLE="vertical-align: top; width: 59%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center">Incremental Number of<BR>
<U>Option Shares Exercisable</U></TD>
 <TD STYLE="vertical-align: bottom; width: 41%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-decoration: underline; text-align: