INSULET CORP
EX-10.1 AMENDMENT TO THE COMPANY`S 2007 STOCK OPTION AND INCENTIVE PLAN.
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<DESCRIPTION>EX-10.1 AMENDMENT TO THE COMPANY`S 2007 STOCK OPTION AND INCENTIVE PLAN.
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<B>Exhibit&nbsp;10.1</B>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>AMENDMENT TO THE INSULET CORPORATION</B><BR>
<U><B>2007 STOCK OPTION AND INCENTIVE PLAN</B></U>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the powers reserved to it in Section&nbsp;18 of the Insulet Corporation 2007 Stock
Option and Incentive Plan (the &#147;<U>Plan</U>&#148;), the Board of Directors of Insulet Corporation
hereby amends the Plan, subject to stockholder approval, effective as of March&nbsp;12, 2008, as
follows:
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;Section&nbsp;3(a)(i) of the Plan is amended by deleting such Section in its entirety and
replacing it with the following:
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&#147;<u>General</u>. The maximum number of shares of Stock reserved and available for issuance
under the Plan shall be 1,135,000 shares, plus, for a period of five years, on each
January&nbsp;1, beginning in 2008 and ending in 2012, an additional number of shares
equal to the lesser of (A)&nbsp;3% of the outstanding number of shares of Stock on the
immediately preceding December&nbsp;31 and (B)&nbsp;725,000 shares of Stock, subject in all
cases to adjustment as provided in Section&nbsp;3(b); provided that the number of shares
that may be issued in the form of Incentive Stock Options shall not exceed 1,135,000
shares, plus on each January&nbsp;1, beginning in 2008 and ending in 2012, an additional
number of shares equal to the lesser of (A)&nbsp;3% of the outstanding number of shares
of Stock on the immediately preceding December&nbsp;31 and (B)&nbsp;725,000 shares of Stock,
subject in all cases to adjustment as provided in Section&nbsp;3(b). For purposes of
this limitation, the shares of Stock underlying any Awards that are forfeited,
canceled, held back upon exercise of an Option or settlement of an Award to cover
the exercise price or tax withholding, reacquired by the Company prior to vesting,
satisfied without the issuance of Stock or otherwise terminated (other than by
exercise) shall be added back to the shares of Stock available for issuance under
the Plan. Subject to such overall limitations, shares of Stock may be issued up to
such maximum number pursuant to any type or types of Award; provided, however, that
Stock Options or Stock Appreciation Rights with respect to no more than 1,145,000
shares of Stock may be granted to any one individual grantee during any one calendar
year period. The shares available for issuance under the Plan may be authorized but
unissued shares of Stock or shares of Stock reacquired by the Company.&#148;
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<DIV align="left" style="font-size: 10pt; margin-top: 12pt">DATE APPROVED BY BOARD OF DIRECTORS: March&nbsp;12, 2008
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">DATE
APPROVED BY STOCKHOLDERS: May&nbsp;8, 2008

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