SEC Contract Filing

Filing Date: 2016-04-06

Document Content:
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<TYPE>EX-10.3
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<FILENAME>an35192888-ex10_3.htm
<DESCRIPTION>PERFORMANCE SHARE AWARD AGREEMENT
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<div style="FONT-WEIGHT: bold; TEXT-ALIGN: right">Exhibit 10.3</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; MARGIN-TOP: 12pt"><u>PERFORMANCE SHARE AWARD AGREEMENT</u></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">This Performance Share Award Agreement (this &#8220;Agreement&#8221;), dated as of the 1st day of April, 2016 (the &#8220;Grant Date&#8221;), is between AngioDynamics, Inc., a Delaware corporation (the &#8220;Company&#8221;), and the (&#8220;Participant&#8221;), an employee of the Company or any of its affiliates or subsidiaries and whose name appears on the signature page hereto.&#160; All capitalized terms not otherwise defined herein shall have the meaning ascribed thereto in the Total Shareholder Return Performance Share Award Program (the &#8220;Program&#8221;) for the period beginning on the Grant Date and ending on the date that is the second trading day following the Company&#8217;s annual earnings announcement for the fiscal year ending May 31, 2019 (the &#8220;Performance Period&#8221;).</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">1. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Grant and Acceptance of Award</u></font>. Effective as of the Grant Date, the Company hereby grants to the Participant a Performance Share Award (the &#8220;Performance Share Award&#8221;), subject to the terms and conditions set forth in this Agreement and the Program, with respect to 250,000 (the &#8220;Target Amount&#8221;) shares of the Company&#8217;s common stock, par value $0.01 per share (the &#8220;Common Stock&#8221;).&#160; The grant of this Performance Share Award shall not confer any right to the Participant (or any other participant) to be granted any Performance Share Awards in the future under the Program.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">2. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Eligibility Conditions upon Performance Share Award</u></font>. The Participant hereby acknowledges the vesting of any shares of Common Stock underlying the Performance Share Award is subject to certain eligibility, performance and other conditions set forth herein.&#160; All shares of Common Stock vested pursuant to the terms of this Agreement and the Program shall be issued to the Participant as soon as practicable (and in all events within sixty (60) days) after the end of the Performance Period.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">3. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Satisfaction of Performance-Based Conditions</u></font>. Subject to the eligibility conditions described in Section 7 of this Agreement, except as otherwise provided in Sections 5, 6 and 8 of this Agreement, and the satisfaction of the performance conditions set forth on <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Appendix A</u></font> to this Agreement during the Performance Period, shares of Common Stock subject to the Performance Share Award will vest pursuant to the terms and in accordance with the conditions set forth in the Program.&#160; Except as set forth in Sections 5, 6 and 8 of this Agreement, no shares of Common Stock in settlement of vested shares of Common Stock underlying the Performance Share Award shall be issued to the Participant prior to the end of the Performance Period.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">4. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Participant&#8217;s Rights in Common Stock</u></font>. The shares of Common Stock, if and when issued hereunder, shall be registered in the name of the Participant and evidenced in the manner as the Company may determine.&#160; During the period prior to the issuance of Common Stock, the Participant will have no rights of a stockholder of the Company with respect to the Common Stock underlying the Performance Share Award, including no right to receive dividends or vote the shares of Common Stock underlying each Performance Share Award.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">5. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, se