exv10w3








Exhibit 10.3




	 	 	 
	
Stock Option Award Certificate

(NON-QUALIFIED OPTION)

	 	

ID: XXXXXXXX

88 Sidney Street

Cambridge, MA 02139






 




	 	 	 	 	 
	«FIRST_NAME» «MIDDLE_NAME» «LAST_NAME»

«ADDRESS_LINE1»

«ADDRESS_LINE2»

«ADDRESS_LINE3»

«CITY», «STATE» «ZIP_CODE»

	 	Option Number:

Plan:





ID:
	 	«NUM»

«PLAN_NAME»





«ID»






 




Effective «GRANT_DATE», you have been granted a non-qualified Option to buy «SHARES_GRANTED» shares
of Alkermes, Inc. (the “Company”) common stock at «OPTION_PRICE» per share.



The total option price of the shares granted is «TOTAL_OPTION_PRICE».



The right to acquire the shares subject to the Option will become fully vested on the dates shown
below. The Option shall expire on the earlier to occur of: the 10th anniversary of the
date of grant or three months after termination of your service relationship with the Company
(unless otherwise provided below). .



	 	 	 
	Shares	 	Vest Date
	«SHARES_PERIOD1»
	 	 
	«SHARES_PERIOD2»
	 	 
	«SHARES_PERIOD3»
	 	 
	«SHARES_PERIOD4»
	 	 






In the event of the termination of your employment with the Company by reason of retirement, the
vesting and exercisability of the Option shall be accelerated, and the period during which the
Option (to the extent it is exercisable on the date of retirement) may be exercised shall be
extended, as follows:



	 	 	 	 	 
	Age at retirement and full years
of cumulative service as an
employee of the Company at
retirement (but not including
any service in a non-employment
relationship with the Company)
	 	Acceleration of vesting date	 	Exercise period
following date of
termination of
employment by
reason of
retirement (but not
beyond the original
term of the Option)
	60 or over and at least 6 years

	 	1 year
	 	1 year
	62.5 or over and at least 8 years

	 	2 years
	 	2 years
	65 or over and at least 10 years

	 	4 years
	 	3 years






[The following paragraph for all employees of the Company other than the Chairman of the Board.]
Notwithstanding the above, in the event of the termination of your employment with the Company by
reason of retirement, if your age plus full years of cumulative service as an employee of the
Company (but not including any service in a non-employment relationship with the Company) is
greater than or equal to 55 at retirement and you have at least twelve (12) full years of
cumulative employment with the Company, then the Option shall vest and be exercisable in full on
retirement and the period during which the Option (to the extent that it is exercisable on the date
of retirement) may be exercised shall be five (5) years following the date of termination of
employment by reason of retirement, but not beyond the original term of the Option.



In the event of the termination of your employment with the Company (but not the termination of a
non-employment relationship with the Company) by reason of death or permanent disability, the
Option shall vest and be exercisable in full on such termination of employment and the period
during which the Option (to the extent that it is exercisable on the date of termination of
employment) may be exercised shall be three (3) years following the date of termination of
employment by reason of death or permanent disability, but not beyond the original term of the
Option.



The foregoing Option has been granted under and is governed by the terms and conditions of this
Certificate and the Alkermes 2008 Stock Option and Incentive Plan.



	 	 	 	 	 
	 

Alkermes, Inc.

	 	 

Date