EX-10.38



 Exhibit 10.38 

Lantheus Holdings, Inc. 

2015 Equity Incentive Plan 

Restricted Stock Award Agreement 

(Time Vesting) 
 This
Restricted Stock Award Agreement (this “Agreement”) is made by and between Lantheus Holdings, Inc., a Delaware corporation (the “Company”), and [●] (the “Participant”), effective as of June
[●], 2015 (the “Date of Grant”). 
 RECITALS 

WHEREAS, the Company has adopted the Lantheus Holdings, Inc. 2015 Equity Incentive Plan (as the same may be amended and/or amended and
restated from time to time, the “Plan”), which Plan is incorporated herein by reference and made a part of this Agreement, and capitalized terms not otherwise defined in this Agreement will have the meanings ascribed to those terms
in the Plan; and 
 WHEREAS, the Committee has authorized and approved the grant of an Award to the Participant of Restricted Stock,
subject to the terms and conditions set forth in the Plan and this Agreement. 
 NOW THEREFORE, in consideration of the premises and
the mutual covenants set forth in this Agreement, the parties agree as follows: 
  

	1.	Grant of Restricted Stock Award. The Company has granted to the Participant, effective as of the Date of Grant, [●] shares of Restricted Stock, on the terms and conditions set forth in the Plan and
this Agreement, subject to adjustment as forth in the Plan. 

  

	2.	Issuance of Shares. 

  

	 	(a)	 Book-Entry Registration of the Shares; Delivery of Shares. The Company may at its election either: (i) after the Date of Grant, issue a
certificate representing the shares of Restricted Stock subject to this Agreement and place a legend and stop transfer notice on that certificate, in which case the Company may retain that certificate unless, until and as any shares represented by
that certificate have vested and may cancel that certificate if and to the extent that the shares of Restricted Stock are forfeited or otherwise required to be transferred back to the Company; provided that, if the shares of Restricted Stock are to
be certificated, the Company may require the Participant to deliver to the Company a duly-executed blank stock power in a form to be provided by the Company; or (ii) not issue any certificate representing the shares of Restricted Stock subject
to this Agreement and instead document the Participant’s interest in the shares of Restricted Stock by registering the shares of Restricted Stock with the Company’s transfer agent (or another custodian selected by the Company) in
book-entry form in the Participant’s name with the applicable restrictions noted in the book entry 



  
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system, in which case no certificate representing all or any part of the shares of Restricted Stock will be issued unless, until and as any of those shares have vested and the Company may cancel
those book entry shares if and to the extent that the shares of Restricted Stock are forfeited or otherwise required to be transferred back to the Company. In any case, the Company may provide a reasonable delay in the issuance or delivery of vested
shares of Common Stock to address tax withholding and other administrative matters. 

  

	 	(b)	Shareholder Rights. The Participant will not have any rights of a stockholder with respect to the shares of Restricted Stock, including voting rights, unless, until and as the shares of Restricted Stock vest;
provided that the Participant will be entitled to receive dividends with respect to the vested Restricted Stock and with respect to the unvested Restricted Stock as may be determined by the Committee in accordance with the Plan; and provided further
that (x) any regular cash dividends paid with respect to an unvested share of Restricted Stock (the “associated share”) will be withheld by the Company and will be paid to the Participant, without interest, within thirty
(30) days after the associated share vests and will be forfeited if and when the associated share is forfeited, and (y) any property (other than cash) distributed with respect to an associated share (including without limitation a
distribution of shares by reason of a stock dividend, stock split or otherwise or a distribution of other securities with respect to an associated share) will be subject to the restrictions of this Agreement in the same manner and for so long as the
associated share remains subject to those restrictions and will be forfeited if and when the associated share is forfeited or will vest if and when the associated share vests. 


 

	 	(c)	Withholding Requirements. As a condition to the grant and vesting of the Restricted Stock, the Participant will make such arrangements as the Committee may require for the satisfaction of any Federal, state,
local or foreign withholding tax obligations that may arise in connection with that Restricted Stock. Unless otherwise elected by the Participant within ninety (90) days following the Date of Grant, these requirements will be met by having the
Company withhold a number of shares of Common Stock having a Fair Market Value on the date the tax is to be determined equal to the minimum statutory total tax that could be imposed on the transaction. 


 

	3.	Vesting of Restricted Stock. Subject to the terms and conditions set forth in the Plan and this Agreement, the Restricted Stock will vest as follows: 


 

	 	(a)	General. Except as otherwise provided in Sections 3(b) and 4, the shares of Restricted Stock will vest in equal annual installments of [25%]1 over a [four]2-year period on each anniversary of the Date of Grant, subject to the Participant’s continued Service through each applicable vesting date. 


 
  

	1 	NTD: Use “one-third” for annual option grants to directors. 


	2 	NTD: Use “three” for annual option grants to directors. 


  
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	 	(b)	Change in Control. Subject to the Participant’s continued Service through the date of a Change in Control: 

  

	 	(i)	if the consideration paid in connection with that Change in Control for the same class of the Company’s equity securities as the then-outstanding shares of Restricted Stock is all cash, then all shares of
Restricted Stock will become fully vested immediately prior to the consummation of that Change in Control; or 

  

	 	(ii)	if (x) the consideration paid in connection with that Change in Control for the same class of the Company’s equity securities underlying the then outstanding shares of Restricted Stock is all equity
securities, or part cash and part equity securities, (y) the the-outstanding shares of Restricted Stock are assumed or substituted by the acquirer in that Change in Control for awards with substantially the same or comparable terms (including
with respect to then-current economic value) and (z) the Participant’s Service is terminated (1) without Cause or, (2) to the extent the Participant is party to an employment letter or agreement with the Company or any Subsidiary
that defines “Good Reason” (or any similar term), by the Participant for Good Reason, then within twelve (12) months following that Change in Control, all unvested shares of Restricted Stock will become fully vested upon that
termination of Service. 

  

	4.	Forfeiture. Any unvested shares of Restricted Stock will be forfeited immediately, automatically and without consideration upon a termination of the Participant’s Service for any reason. Without
limiting the generality of the foregoing, the shares of Restricted Stock and any vested shares (and any resulting proceeds) will continue to be subject to Section 13 of the Plan. 


 

	5.	Adjustment to Restricted Stock. In the event of any change with respect to the outstanding shares of Common Stock contemplated by Section 4.5 of the Plan, the Restricted Stock may be adjusted in
accordance with Section 4.5 of the Plan. 

  

	6.	Miscellaneous Provisions 

  

	 	(a)	Securities Laws Requirements. No shares of Common Stock will be issued or transferred pursuant to this Agreement unless and until all then applicable requirements imposed by Federal and state securities and other
laws, rules and regulations and by any regulatory agencies having jurisdiction, and by any exchanges upon which the shares of Common Stock may be listed, have been fully met. As a condition precedent to the issuance of shares of Common Stock
pursuant to this Agreement, the Company may require the Participant to take any reasonable action to meet those requirements. The Committee may impose such conditions on any shares of Common Stock issuable pursuant to this Agreement as it may deem
advisable, including, without limitation, restrictions under the Securities Act of 1933, as amended, under the requirements of any exchange upon which shares of the same class are then listed and under any blue sky or other securities laws
applicable to those shares of Common Stock. 


  
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	 	(b)	Section 83(b) Election. The Participant may file an election pursuant to Section 83(b) of the Code with respect to the Restricted Stock, provided that the Participant has made such arrangements as the
Committee may require for the satisfaction of any Federal, state, local or foreign withholding tax obligations with respect to the transfer of shares of Restricted Stock in cash, upon the filing of such election. If the Participant makes an election
pursuant to Section 83(b) of the Code, the Participant will file, within thirty (30) days following the date of grant, a copy of such election with the Company and with the Internal Revenue Service, in accordance with the regulations under
Section 83 of the Code. The Participant acknowledges that it is his or her sole responsibility, and not the Company’s, to file a timely election under Section 83(b) of the Code, even if the Participant requests the Company or its
representatives to make this filing on his or her behalf. 

  

	 	(c)	Non-transferability. Any shares of Common Stock delivered hereunder will be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations
and other requirements of the Securities and Exchange Commission, any stock exchange upon which such shares are listed, and any applicable Federal or state laws, and any agreement with, or policy of, the Company or the Committee to which the
Participant is a party or subject, and the Committee may cause orders or designations to be placed upon any certificate(s) or other document(s) delivered to the Participant, or on the books and records of the Company’s transfer agent, to make
appropriate reference to such restrictions. 

  

	 	(d)	No Right to Continued Service. Nothing in this Agreement or the Plan confers upon the Participant any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in
any way the rights of the Company (or any Subsidiary employing or retaining the Participant) or of the Participant, which rights are hereby expressly reserved by each, to terminate his or her Service at any time and for any reason, with or without
Cause. 

  

	 	(e)	Notification. Any notification required by the terms of this Agreement will be given by the Participant (i) in a writing addressed to the Company at its principal executive office and will be deemed
effective upon actual receipt when delivered by personal delivery or by registered or certified mail, with postage and fees prepaid, or (ii) by electronic transmission to the Company’s e-mail address of the Company’s General Counsel
and will be deemed effective upon actual receipt. Any notification required by the terms of this Agreement will be given by the Company (i) in a writing addressed to the address that the Participant most recently provided to the Company and
will be deemed effective upon personal delivery or within three (3) days of deposit with the United States Postal Service, by registered or certified mail, with postage and fees prepaid, or (ii) by facsimile or electronic transmission to
the Participant’s primary work fax number or e-mail address (as applicable) and will be deemed effective upon confirmation of receipt by the sender of such transmission. 


  
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	 	(f)	Entire Agreement. This Agreement and the Plan constitute the entire agreement between the parties hereto with regard to the subject matter of this Agreement. This Agreement and the Plan supersede any other
agreements, representations or understandings (whether oral or written and whether express or implied) that relate to the subject matter of this Agreement. 

  

	 	(g)	Waiver. No waiver of any breach or condition of this Agreement will be deemed to be a waiver of any other or subsequent breach or condition whether of like or different nature. 


 

	 	(h)	Successors and Assigns. The provisions of this Agreement will inure to the benefit of, and be binding upon, the Company and its successors and assigns and upon the Participant, the Participant’s executor,
personal representative(s), distributees, administrator, permitted transferees, assignees, beneficiaries, and legatee(s), as applicable, whether or not any such person will have become a party to this Agreement and have agreed in writing to be
joined herein and be bound by the terms hereof. 

  

	 	(i)	Severability. The provisions of this Agreement are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, then the remaining provisions will
nevertheless be binding and enforceable. 

  

	 	(j)	Amendment. Except as otherwise provided in the Plan, this Agreement will not be amended unless the amendment is agreed to in writing by both the Participant and the Company. 


 

	 	(k)	Choice of Law; Jurisdiction. This Agreement and all claims, causes of action or proceedings (whether in contract, in tort, at law or otherwise) that may be based upon, arise out of or relate to this Agreement
will be governed by the internal laws of the State of Delaware, excluding any conflicts or choice-of-law rule or principle that might otherwise refer construction or interpretation of this Agreement to the substantive law of another jurisdiction.
The Participant and each party to this Agreement agrees that it will bring all claims, causes of action and proceedings (whether in contract, in tort, at law or otherwise) that may be based upon, arise out of or be related to the Plan and this
Agreement exclusively in the Delaware Court of Chancery or, in the event (but only in the event) that such court does not have subject matter jurisdiction over such claim, cause of action or proceeding, exclusively in the United States District
Court for the District of Delaware (the “Chosen Court”), and hereby (i) irrevocably submits to the exclusive jurisdiction of the Chosen Court, (ii) waives any objection to laying venue in any such proceeding in the Chosen
Court, (iii) waives any objection that the Chosen Court is an inconvenient forum or does not have jurisdiction over any party and (iv) agrees that service of process upon such party in any such claim or cause of action will be effective if
notice is given in accordance with this Agreement.


  
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	 	(l)	Signature in Counterparts. This Agreement may be signed in counterparts, manually or electronically, and each of which will be an original, with the same effect as if the signatures to each were upon the same
instrument. 

  

	 	(m)	Acceptance. The Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. The Participant has read and understands the terms and provisions of the Plan and this Agreement, and accepts the
Restricted Stock subject to all of the terms and conditions of the Plan and this Agreement. In the event of a conflict between any term or provision contained in this Agreement and a term or provision of the Plan, the applicable term and provision
of the Plan will govern and prevail. 

 [Signature page follows.] 

  
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 IN WITNESS WHEREOF, the Company and the Participant have executed this Restricted Stock Award
Agreement as of the Date of Grant. 
  

							
	Participant				Lantheus Holdings, Inc.
				
	  
				By:		  

	Name:				Name:		
					Title:		


  
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