exv10w43



 






Exhibit 10.43




GUILFORD PHARMACEUTICALS INC.

2002 STOCK AWARD AND INCENTIVE PLAN




DIRECTOR STOCK UNIT AGREEMENT




     Guilford Pharmaceuticals Inc., a Delaware corporation (the “Company”),
hereby grants stock units relating to shares of its common stock, $.01 par
value (the “Stock”), to the individual named below as the Grantee. The terms
and conditions of the grant are set forth in this Agreement and in the Guilford
Pharmaceuticals Inc. 2002 Stock Award and Incentive Plan (the “Plan”).


Grant Date:

     
     
     

, 20     



Name of Grantee: 
          
          
          
          
          
          
          





Grantee’s Social Security Number: 
     
     

-
     
     -
     
     



Number of Stock Units Covered by Grant: 
          
          
    






     By signing this cover sheet, you agree to all of the terms and conditions
described in this Agreement and in the Plan, a copy of which will be provided
on request. You acknowledge that you have carefully reviewed the Plan and
agree that the Plan will control in the event any provision of this Agreement
should appear to be inconsistent with the terms of the Plan.


Grantee: 
          
          
          
          
          
          
          






          
          
          
          

(Signature)



Company: 
          
          
          
          
          
        
          




          
          
          
          

(Signature)




     Title: 
          
          
          
          
          
          
            


Attachment



This is not a stock certificate or a negotiable instrument.




 









 








GUILFORD PHARMACEUTICALS INC.

2002 STOCK AWARD AND INCENTIVE PLAN




DIRECTOR STOCK UNIT AGREEMENT




	 	 	 
	Stock Unit Transferability

	 	This grant is an award of stock
units in the number of units set
forth on the cover sheet, subject
to the vesting conditions
described below (“Stock Units”).
Your Stock Units may not be
transferred, assigned, pledged or
hypothecated, whether by
operation of law or otherwise,
nor may the Stock Units be made
subject to execution, attachment
or similar process.
	 
	 	 
	Vesting

	 	Your Stock Unit grant is one
hundred percent (100%) vested at
all times.
	 
	 	 
	Delivery of Stock Pursuant to Units

	 	A certificate for the shares of
Stock represented by the Stock
Unit Agreement shall be
delivered to you, or to your
eligible beneficiary or your
estate, six months after the
termination of your service on
the Board of Director.
	 
	 	 
	Withholding Taxes

	 	You agree, as a condition of this
grant, that you will make
acceptable arrangements to pay
any withholding or other taxes
that may be due as a result of
vesting in Stock Units or your
acquisition of Stock under this
grant. In the event that the
Company determines that any
federal, state, local or foreign
tax or withholding payment is
required relating to this grant,
the Company will have the right
to: (i) require that you arrange
such payments to the Company,
(ii) withhold such amounts from
other payments due to you from
the Company or any Affiliate, or
(iii) cause an immediate
forfeiture of shares of Stock
subject to the Restricted Units
granted pursuant to this
Agreement in an amount equal to
the withholding or other taxes
due.
	 
	 	 
	Retention Rights

	 	This Agreement does not give you
the right to be retained or
employed by the Company (or any
Affiliates) in any capacity.
	 
	 	 
	Shareholder Rights

	 	You do not have any of the rights
of a shareholder with respect to
the Stock Units unless and until
the Stock relating to the Stock
Units has been delivered to you.
You will, however, be entitled to
receive, upon the Company’s
payment of a cash dividend on
outstanding Stock, a cash payment
for each Stock Unit that you hold
as of the record date for such
dividend equal to the per-share
dividend paid on the Stock.







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	Adjustments

	 	In the event of a stock split, a
stock dividend or a similar
change in the Company stock, the
number of Stock Units covered by
this grant will be adjusted (and
rounded down to the nearest whole
number) in accordance with the
terms of the Plan.
	 
	 	 
	Applicable Law

	 	This Agreement will be
interpreted and enforced under
the laws of the State of
Maryland, other than 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.
	 
	 	 
	Consent to Electronic Delivery

	 	The Company may choose to deliver
certain statutory materials
relating to the Plan in
electronic form. By accepting
this grant you agree that the
Company may deliver the Plan
prospectus and the Company’s
annual report to you in an
electronic format. If at any
time you would prefer to receive
paper copies of these documents,
as you are entitled to receive,
the Company would be pleased to
provide copies. Please contact
the Corporate Secretary to
request paper copies of these
documents.
	 
	 	 
	The Plan

	 	The text of the Plan is
incorporated in this Agreement by
reference. This Agreement and
the Plan constitute the entire
understanding between you and the
Company regarding this grant of
Stock Units. Any prior
agreements, commitments or
negotiations concerning this
grant are superseded. The Plan
will control in the event any
provision of this Agreement
should appear to be inconsistent
with the terms of the Plan.







     By signing the cover sheet of this Agreement, you agree to all of the
terms and conditions described above and in the Plan.




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