Exhibit 10.5

 

NON-QUALIFIED

Stock Option

 

Granted Under Millipore Corporation

1989 Stock Option Plan for Non-Employee Directors

 

Stock Option granted by Millipore Corporation a Massachusetts corporation (the
“Company”) to                      (the “Optionee”), pursuant to Millipore’s
1989 Stock Option Plan for Non-Employee Directors (the “Plan”).

 

1. Grant of Option

 

This certificate evidences the grant by the Company on
                             to the Optionee of an option to purchase, in whole
or in part, on the terms herein provided, a total of              shares of
Common Stock of the Company (the “Shares”) at $             per Share. The Final
Exercise Date of this option (as that term is used in the Plan) is [date 10
years following date of grant stated above].

 

This option is exercisable in the following installments prior to the Final
Exercise Date:

 

2. Exercise of Option

 

Each election to exercise this option shall be in writing, signed by the
Optionee or by the Optionee’s executor or administrator or the person or persons
to whom this option is transferred by will or the applicable laws of descent and
distribution (the “Legal Representative”), and received by the Company at its
principal office, accompanied by this certificate and payment in full as
provided in the Plan. The purchase price may be paid by delivery of cash,
certified check, bank draft, money order, or other payment medium approved by
the Company. In the event that this option is exercised by the Optionee’s Legal
Representative, the Company shall be under no obligation to deliver Shares
hereunder unless and until the Company is satisfied as to the authority of the
person or persons exercising this option.

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3. Non-Transferability of Option

 

This option is not transferable by the Optionee other than by will or the laws
of descent and distribution, and is exercisable during the Optionee’s lifetime
only by the Optionee.

 

4. Provision of the Plan

 

This option is subject to the provisions of the Plan.

 

5. Special Provisions

 

This option is automatically subject to the “Special Exercise Period” provided
under the Plan (without further consent of the Company) if the optionee’s
services as a director terminate due to retirement at age 72 or such other age
as the Board of Directors may determine from time to time.

 

IN WITNESS WHEREOF, the Company has caused this option to be exercised under its
corporate seal by its duly authorized officer. This option shall take effect as
a sealed instrument.

 

Please acknowledge receipt of this certificate by signing and returning the
enclosed copy of this letter to the attention of                     .

 

Very truly yours,

MILLIPORE CORPORATION

 

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[name]

[title]

 

 

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Date

 

Receipt and acceptance of the foregoing is hereby acknowledged:

 

 

 

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[Name of Director]

 

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Date