THERAGENICS CORPORATION INCENTIVE STOCK OPTION AWARD

THIS AWARD is made as of the Grant Date, by THERAGENICS CORPORATION (the “Company”) to NAME (the “Optionee”), subject to acceptance by the Optionee.

Upon and subject to the Terms and Conditions attached hereto and incorporated herein by reference, the Company hereby awards as of the Grant Date to Optionee an incentive stock option (the “Option”), as described below, to purchase the Option Shares.

A.   Grant Date: February 13, 2007

B.   Type of Option: Incentive Stock Option.

C.   Plan (under which Option is granted): Theragenics Corporation 2006 Stock Incentive Plan.

D.   Option Shares: All or any part of NUMBER shares of the Company’s $.01 par value common stock (the “Common Stock”).

E.   Exercise Price: $5.00 per share , which is 100% of the fair market value of the Common Stock on the Grant Date or 110% of the fair market value if Optionee is an Over 10% Owner.

F.   Option Period: Subject to the attached terms and conditions, the Option may be exercised during the Option Period which commences on the Grant Date and ends no later than at the close of business on the tenth (10th) anniversary of the Grant Date or fifth (5th) anniversary of the Grant Date if Optionee is an Over 10% Owner, provided that the Option may be exercised as to no more than the vested Option Shares, determined pursuant to the Vesting Schedule. Note that other restrictions to exercising the Option, as described in the attached Terms and Conditions, may apply.

G.   Vesting Schedule: The Option shall become vested in accordance with the following vesting schedule:

The Optionee shall receive a year of service as of each anniversary of the Grant Date; provided that, the Optionee has not had a Termination of Employment before such anniversary.

Any portion of the Option Shares that have not become vested in accordance with the foregoing schedule shall become vested on the first to occur of the following: (1) the date of the Optionee’s Termination of Employment due to death or Disability; (2) the date of the Optionee’s retirement (i.e., voluntary resignation) upon or after age 65; or (3) the date of a Change in Control. Notwithstanding the foregoing, any Option Shares that have not become vested as of the date of the Optionee’s Termination of Employment shall be forfeited.

IN WITNESS WHEREOF, the Company has executed and sealed this Award as of the Grant Date set forth above.

                             THERAGENICS CORPORATION

                             By:   ______________________________

                             Title:   ______________________________

                             Accepted:

                             _____________________________________

                             NAME

1.   Exercise of Option . Subject to the provisions provided herein or in the Award made pursuant to the Theragenics 2006 Stock Incentive Plan:

(a)   The Option may be exercised with respect to all or any portion of the vested Option Shares at any time during the Option Period by the delivery to the Company, at its principal place of business, of (i) a written notice of exercise in substantially the form attached hereto as Exhibit 1, which shall be actually delivered to and reviewed by the Company prior to the date upon which Optionee desires to exercise of all or any portion of the Option and (ii) payment to the Company of the Exercise Price multiplied by the number of shares being purchased (the “Purchase Price”) in the manner provided in Subsection (b). Upon acceptance of such notice and receipt of payment in full of the Purchase Price and withholding liability, the Company shall cause to be issued a certificate representing the Option Shares purchased.

(b)   The Purchase Price shall be paid in full upon the exercise of an Option and no Option Shares shall be issued or delivered until full payment therefor has been made. Payment of the Purchase Price for all Option Shares purchased pursuant to the exercise of an Option shall be made in cash, certified check, or, alternatively, as follows:

(i)   by delivery to the Company of a number of shares of Common Stock which have been owned by the Optionee for at least six months prior to the date of the Option’s exercise, having a Fair Market Value, as determined under the Plan, on the date of exercise either equal to the Purchase Price or in combination with cash to equal the Purchase Price; or

(ii)   by receipt of the Purchase Price in cash from a broker, dealer or other “creditor” as defined by Regulation T issued by the Board of Governors of the Federal Reserve System following delivery by the Optionee to the Committee (defined in the Plan) of instructions in a form acceptable to the Committee regarding delivery to such broker, dealer or other creditor of that number of Option Shares with respect to which the Option is exercised.

2.   Exercise Price . The exercise price for each Option Share shall be $5.00, subject to adjustment as set forth in Section 7 below (the “Exercise Price”).

3.   Withholding . This tax withholding section will apply only if all or a portion of the Option is not or ceases to be an “Incentive Stock Option” under Section 422 of the Internal Revenue Code when it is exercised. Otherwise, it does not apply. The Optionee must satisfy his federal, state and local, if any, withholding taxes imposed by reason of the exercise of the Option either by paying to the Company the full amount of the withholding obligation (i) in cash, (ii) by electing, irrevocably and in writing in substantially the form attached hereto as Exhibit 2 (a “Withholding Election”), to have the actual number of shares of Common Stock issuable upon exercise reduced by the smallest number of whole shares of Common Stock which, when multiplied by the fair market value of the Common Stock as of the date the Option is exercised, is sufficient to satisfy the amount of withholding tax; or (iii) by any combination of the above. Optionee may make a Withholding Election only if the following conditions are met:

(a)   the Withholding Election is made by executing and delivering to the Company a properly completed Notice of Withholding Election in substantially the form of Exhibit 2 attached hereto;

(b)   the Withholding Election is delivered to the Company sufficiently in advance of the date on which the amount of tax required to be withheld is determined (the “Tax Date”) as the Committee under the Plan (the “Committee”) determines is necessary or appropriate to satisfy the conditions of the exemptions provided under Rule 16b-3 promulgated under the Securities Exchange Act of 1934 (the “1934 Act”);

(c)   any Withholding Election is irrevocably given in a manner that satisfies the requirements of the exemption provided under Rule 16b-3 promulgated under the 1934 Act; and

(d)   if the Optionee is considered by the Committee not to be subject to Section 16 of the 1934 Act, the Withholding Election is made no later than the Tax Date.

Notwithstanding anything to the contrary herein, the Committee may in its sole discretion disapprove and give no effect to any Withholding Election.

4.   Term and Termination of Option . The Option shall terminate on the earliest of (i) the last day of the Option Period, (ii) as of the time of the Optionee’s Termination of Employment by Optionee without the Company’s written consent, unless such Termination of Employment is due to the death or Disability or retirement (i.e., voluntary resignation) upon or after reaching age 65, (iii) one year following the date of the Optionee’s Termination of Employment by Optionee with the Company’s written consent or due to retirement (i.e., voluntary resignation) upon or after reaching age 65, (iv) one year following the date of the Optionee’s Termination of Employment by the Company or a Subsidiary, unless such Termination of Employment is due to Cause, (v) one year following the date of the Optionee’s Termination of Employment with the Company or a Subsidiary due to the Optionee’s death or Disability, (vi) as of the time of the Optionee’s Termination of Employment by the Company or a Subsidiary for Cause, or (vii) as of the time any provision of Section 9 hereof applies. Upon the expiration of the Option Period, this Option and all unexercised rights granted to Optionee hereunder shall terminate, and thereafter be null and void.

5.   Rights as Shareholder . Until the stock certificates reflecting the Option Shares accruing to the Optionee upon exercise of the Option are issued to the Optionee, the Optionee shall have no rights as a shareholder with respect to such Option Shares. The Company shall make no adjustment for any dividends or distributions or other rights on or with respect to Option Shares for which the record date is prior to the issuance of that stock certificate, except as the Plan or this Award otherwise provides.

6.   Restriction on Transfer of Option . The Option evidenced hereby is nontransferable other than by will or the laws of descent and distribution, and, shall be exercisable during the lifetime of the Optionee only by the Optionee (or in the event of his Disability, by his legal representative) and after his death, only by the legal representative of the Optionee’s estate.

7.   Changes in Capitalization; Merger; Reorganization .

(a)   The number of Option Shares and the Exercise Price shall be proportionately adjusted for nonreciprocal transactions between the Company and the holders of capital stock of the Company that causes the per share value of the shares of Common Stock underlying the Option to change, such as a stock dividend, stock split, spinoff, rights offering, or recapitalization through a large, nonrecurring cash dividend (each, an “Equity Restructuring”).

(b)   In the event of a merger, consolidation, extraordinary dividend, sale of substantially all of the Company’s assets or other material change in the capital structure of the Company, or a tender offer for shares of Common Stock, or a Change in Control, that in each case is not an “Equity Restructuring,” the Committee shall take such action to make such adjustments in the Option or the terms of this Award as the Committee, in its sole discretion, determines in good faith is necessary or appropriate, including, without limitation, adjusting the number and class of securities subject to the Option, with a corresponding adjustment in the Exercise Price, substituting a new option to replace the Option, accelerating the termination of the Option Period or terminating the Option in consideration of a cash payment to the Optionee in an amount equal to the excess of the then Fair Market Value of the Option Shares over the aggregate Exercise Price of the Option Shares. Any determination made by the Committee pursuant to this Section 7(b) will be final and binding on the Optionee. Any action taken by the Committee need not treat all Optionees equally.

(c)   The existence of the Plan and this Award shall not affect in any way the right or power of the Company to make or authorize any adjustment, reclassification, reorganization or other change in its capital or business structure, any merger or consolidation of the Company, any issue of debt or equity securities having preferences or priorities as to the Common Stock or the rights thereof, the dissolution or liquidation of the Company, any sale or transfer of all or any part of its business or assets, or any other corporate act or proceeding.

8.   Special Limitation on Exercise . Any exercise of the Option is subject to the condition that if at any time the Committee, in its discretion, shall determine that the listing, registration or qualification of the shares covered by the Option upon any securities exchange or under any state or federal law is necessary or desirable as a condition of or in connection with the delivery of shares thereunder, the delivery of any or all shares pursuant to the Option may be withheld unless and until such listing, registration or qualification shall have been effected. The Optionee shall deliver to the Company, prior to the exercise of the Option, such information, representations and warranties as the Company may reasonably request in order for the Company to be able to satisfy itself that the Option Shares being acquired are in accordance with the terms of an applicable exemption from the securities registration requirements of applicable federal and state securities laws.

9.   Termination of Option . In the event the Optionee breaches any provision of an agreement with the Company or a Subsidiary, which provision relates to a requirement that the Optionee not disclose confidential information or trade secrets or that the Optionee refrain from competing with the Company or a Subsidiary or soliciting its employees or customers, this Option shall be immediately terminated. In addition, the Option shall be immediately terminated if Optionee, during the term of employment with the Company or a Subsidiary, or for a period of one year thereafter, directly or indirectly:

(a)   on Optionee’s own behalf or on behalf of any other person or entity, solicits, contacts, calls upon, communicates with, or attempts to communicate with any person or entity who was a customer of the Company, or a customer of any entity to whom the Company sells products or provides services, at any time within two (2) years preceding the applicable time, or any representative of any such customer, with the intent or purpose of selling or providing of any product or service competitive with any product or service sold or under development by the Company during the period of two (2) years preceding the applicable time and which is still being offered by or is still under the development by the Company;

(b)   employs or attempts to employ or assist anyone else in employing in any business organization of whatever form engaged, either directly or indirectly, in any business enterprise which is the same as, or substantially the same as the Business of the Company, any person who, at any time within two (2) years preceding the applicable time, was, is or shall be an employee of the Company (whether or not such employment is full-time or is pursuant to a written contract with the Company); or

(c)   provides services to any business organization of whatever form engaged, either directly or indirectly, in any business enterprise which is the same as, or substantially the same as, the Business of the Company.

10.   Legend on Stock Certificates . Certificates evidencing the Option Shares, t