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CARDIAC SCIENCE CORPORATION
2002 STOCK INCENTIVE PLAN
FORM OF RESTRICTED STOCK UNIT
AWARD AGREEMENT
Pursuant to your
Restricted Stock Unit Award Notice (the “ Award
Notice ”) and this Restricted Stock Unit Award
Agreement (this “ Agreement ”), Cardiac
Science Corporation (the “ Company ”) has
granted you a Restricted Stock Unit Award (the “
Award ”) under its 2002 Stock Incentive Plan (the
“ Plan ”) with respect to the number of
Restricted Stock Units indicated in your Award Notice. Capitalized
terms not explicitly defined in this Agreement but defined in the
Plan shall have the same definitions as in the Plan.
The details of the
Award are as follows:
1. Vesting
and Settlement
The Award will
vest and become payable according to the vesting schedule set forth
in the Award Notice (the “ Vesting Schedule
”). One share of the Company’s Common Stock will be
issuable for each Restricted Stock Unit that vests and becomes
payable. Restricted Stock Units that have vested and are no longer
subject to forfeiture according to the Vesting Schedule are
referred to herein as “ Vested Units .”
Restricted Stock Units that have not vested and remain subject to
forfeiture under the Vesting Schedule are referred to herein as
“ Unvested Units .” The Unvested Units
will vest (and to the extent so vested cease to be Unvested Units
remaining subject to forfeiture) and become payable in accordance
with the Vesting Schedule (the Unvested and Vested Units are
collectively referred to herein as the “ Units
”). As soon as practicable after Unvested Units become Vested
Units, the Company will settle the Vested Units by issuing to you
one share of the Company’s Common Stock for each Vested Unit.
The Award will terminate and the Units will be subject to
forfeiture upon your Termination of Service as set forth in
Section 2.
2.
Termination of Award upon Termination of Service
Unless the Plan
Administrator determines otherwise prior to your Termination of
Service, upon your Termination of Service any portion of the Award
that has not vested as provided in Section 1 will immediately
terminate and all Unvested Units shall immediately be forfeited
without payment of any further consideration to you.
3.
Securities Law Compliance
3.1 You
represent and warrant that you (a) have been furnished with a
copy of the Plan and all information which you deem necessary to
evaluate the merits and risks of receipt of the Award, (b) have had
the opportunity to ask questions and receive answers concerning the
information received about the Award and the Company, and
(c) have been given the opportunity to obtain any additional
information you deem necessary to verify the accuracy of any
information obtained concerning the Award and the
Company.
3.2 You
hereby agree that you will in no event sell or distribute all or
any part of the shares of the Company’s Common Stock that you
receive pursuant to settlement of this Award (the “
Shares ”) unless (a) there is an effective
registration statement under the Securities Act and applicable
state securities laws covering any such transaction involving the
Shares or (b) the Company receives an opinion of your legal
counsel (concurred in by legal counsel for the Company) stating
that such transaction is exempt from registration or the Company
otherwise satisfies itself that such transaction is exempt from
registration. You understand that the Company has no obligation to
you to maintain any registration of the Shares with the SEC and has
not represented to you that it will so maintain registration of the
Shares.
3.3 You
confirm that you have been advised, prior to your receipt of the
Shares, that neither the offering of the Shares nor any offering
materials have been reviewed by any administrator under the
Securities Act or any other applicable securities act (the “
Acts ”) and that the Shares have not been
registered under any of the Acts and therefore cannot be resold
unless they are registered under the Acts or unless an exemption
from such registration is available.
3.4 You
hereby agree to indemnify the Company and hold it harmless from and
against any loss, claim or liability, including attorneys’
fees or legal expenses, incurred by the Company as a result of any
breach by you of, or any inaccuracy in, any representation,
warranty or statement made by you in this Agreement or the breach
by you of any terms or conditions of this Agreement.
Units shall not be
sold, transferred, assigned, encumbered, pledged or otherwise
disposed of, whether voluntarily or by operation of law.
5. Book
Entry Registration of the Shares
The Company may
issue the Shares by registeri
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