NOTE 14—SUBSEQUENT EVENT

Effective August 7, 2018, the Company entered into an employment agreement (the “Employment Agreement”) with Todd Norbe to serve as President and Chief Executive Officer of BIOLASE. Under the terms of the Employment Agreement, Mr. Norbe will receive an annual base salary of $400,000. In addition, Mr. Norbe is eligible to receive an annual performance bonus of up to one hundred percent (100.0%) or Mr. Norbe’s base salary, which is determined by the achievement of certain criteria as established by the Compensation Committee of the Board. For the partial 2018 employment year, Mr. Norbe is eligible to receive a performance bonus of up to $170,000 at target performance and up to $210,000 at “outperform” performance, with a minimum non-discretionary performance bonus of $100,000. Mr. Norbe will be awarded (i) 350,000 stock-settled time-based RSUs, which shall vest as to one-fourth of the number of shares of BIOLASE common stock subject to the time-based RSUs, on the one-year anniversary of the Mr. Norbe’s first date of employment, and as to the remaining three-fourths of the number of shares of BIOLASE common stock subject to the time-based RSUs, in four installments on a semi-annual basis commencing on the 18-month anniversary of Mr. Norbe’s first date of employment, subject to continued employment through each such vesting date, and (ii) 300,000 stock settled performance-based RSUs, which shall vest in one-third annual increments, subject to performance criteria established by the Compensation Committee of the Board and continued employment through each such vesting date. The forgoing RSUs are subject to approval by the Company’s stockholders of an increase in the number of shares available under the 2018 Plan.