Document:

Exhibit 10.4

 

 

Stock Option Grant

 

1.                                       Grant of Option

 

AMAG
Pharmaceuticals, Inc., a Delaware corporation (the “Company”), hereby
grants to [Name of Recipient] (the “Recipient”),
an option to purchase [Number] shares
of Common Stock, $.01 par value per share, of the Company as hereinafter set
forth (the “Option”), pursuant and subject to the terms and provisions of the
Company’s Second Amended and Restated 2007 Equity Incentive Plan (the “Plan”).  The date of grant of this Option is [Date].

 

All terms which are defined in the Plan shall have
the same meanings herein.

 

2.                                       Vesting of
Option

 

This
Option shall be exercisable in cumulative monthly installments on each of the
following dates, as follows:

 

	
  Date
  Exercisable

  	
   

  	
  Number of Shares Exercisable

  
	
   

  	
   

  	
   

  
	
  On
  date of grant

  	
   

  	
  - 0-

  
	
  On
  June 1, 20XX

  	
   

  	
  [1/12 of [Number]]

  
	
  On
  July 1, 20XX

  	
   

  	
  [2/12 of [Number]]

  
	
  On
  August 1, 20XX

  	
   

  	
  [3/12 of [Number]]

  
	
  On
  September 1, 20XX

  	
   

  	
  [4/12 of [Number]]

  
	
  On
  October 1, 20XX

  	
   

  	
  [5/12 of [Number]]

  
	
  On
  November 1, 20XX

  	
   

  	
  [6/12 of [Number]]

  
	
  On
  December 1, 20XX

  	
   

  	
  [7/12 of [Number]]

  
	
  On
  January 1, 20XX

  	
   

  	
  [8/12 of [Number]]

  
	
  On
  February 1, 20XX

  	
   

  	
  [9/12 of [Number]]

  
	
  On
  March 1, 20XX

  	
   

  	
  [10/12 of [Number]]

  
	
  On
  April 1, 20XX

  	
   

  	
  [11/12 of [Number]]

  
	
  On
  May 1, 20XX

  	
   

  	
  [Number]

  

 

	
  Director
  Stock Option Agreement

  	
  Confidential
  Document

  

 

100 Hayden Avenue, Lexington, MA 02421     Tel: 
(617) 498-3300  Fax: (617)
499-3362

 

1

 

No
additional shares shall vest and become exercisable between each of the vesting
dates set forth above.

 

3.                                       Term of Option

 

Unless terminated earlier as provided in Section 6
below, this Option shall terminate in ten (10) years on [Date].

 

4.                                       Exercise Price

 

The exercise price of this Option shall be [                
($      )]
per share.

 

5.                                       Exercise and
Payment

 

(a)                                  Method of Payment.    This Option shall be exercisable by
delivery to the Company of written notice of exercise, specifying the number of
shares for which this Option is being exercised (subject to Section 2
hereof), together with (i) payment to the Company for the total exercise
price thereof in cash, by check, (ii) subject to the Company’s approval,
by Common Stock of the Company already owned by the Recipient, (iii) delivery
of an irrevocable and unconditional undertaking by a creditworthy broker to
deliver promptly to the Company sufficient funds to pay the exercise price, (iv) delivery
by the Recipient to the Company of a copy of irrevocable and unconditional
instructions to a creditworthy broker to deliver promptly to the Company cash
or a check sufficient to pay the exercise price, or (v) by some
combination thereof; provided that methods (iii) and (iv) shall only
be permissible if the Company’s Common Stock is listed on the Nasdaq Global
Market or other national securities exchange at such time.

 

(b)                                 Valuation of Shares Tendered
in Payment of Purchase Price.    For the purposes hereof, the fair market
value of any share of the Company’s Common Stock which may be delivered to the
Company in exercise of this Option shall be determined in good faith by the
Board of Directors of the Company, or, in the absence of such determination,
shall be equal to the closing price of a share of the Company’s Common Stock as
reported on the Nasdaq Global Market (or other national securities exchange or
automated marketplace upon which the Company’s Common Stock is then traded) on
the date of exercise of this Option.

 

(c)                                  Delivery of Shares Tendered
in Payment of Purchase Price.    If the Company permits the Recipient to
exercise Options by delivery of shares of Common Stock of the Company, the
certificate or certificates representing the shares of Common Stock of the
Company to be delivered shall be duly executed in blank by the Recipient or
shall be accompanied by a stock power duly executed in blank suitable for
purposes of transferring such shares to the Company.  Fractional shares of Common Stock of the
Company will not be accepted in payment of the purchase price of shares
acquired upon exercise of this Option.

 

2

 

6.                                       Effect of
Termination of Employment, Board Membership, or Service Provision or Death

 

This
Option shall not be assignable or transferable either voluntarily or by
operation of law, except as set forth in this Section 6.  Notwithstanding the foregoing, an Option may
be transferred pursuant to a domestic relations order.  Further, notwithstanding the foregoing, the
Recipient may, by delivering written notice to the Company, in a form provided
by or otherwise satisfactory to the Company, designate a third party who, in
the event of the death of the Recipient, shall thereafter be the beneficiary of
an Option with the right to exercise the Option and receive the Common Stock or
other consideration resulting from an Option exercise.

 

In
the event the Recipient during his or her lifetime ceases to be an employee,
member of the Board of Directors, or other service provider of the Company or
of any subsidiary for any reason, other than death or disability, any
unexercised portion of this Option which was otherwise exercisable on the date
of termination of Recipient’s employment, Board membership or other service, as
the case may be, shall expire unless exercised within three years of that date,
but in no event after the expiration of the term hereof.

 

In
the event of termination of employment, Board membership, or service in any
other capacity because of the death or disability of the Recipient (i) while
an employee, Board member, or service provider of the Company or any
subsidiary, or (ii) during the three-month period following termination of
his or her employment, status as a director, or status as a service provider
for any reason other than death or disability, this Option shall be exercisable
for the number of shares otherwise exercisable on the date of death, disability
or termination, by the Recipient or his or her personal representatives, heirs
or legatees, as the case may be, at any time prior to the expiration of three
years from the date of the death or disability of the Recipient, but in no
event after the expiration of the term hereof.

 

Notwithstanding
the foregoing, if the Recipient, prior to the termination date of this
Option,  (i) violates any provision
of any employment agreement or any confidentiality or other agreement between the
Recipient and the Company, (ii) commits any felony or any crime involving
fraud, dishonesty or moral turpitude under the laws of the United States or any
state thereof, (iii) attempts to commit, or participate in, a fraud or act
of dishonesty against the Company, or (iv) commits gross misconduct, the
right to exercise this Option shall terminate immediately upon written notice
to the Recipient from the Company describing such violation or act.

 

7.                                       Employment,
Board Membership or Service

 

Nothing
contained in this Option or in the Plan shall be construed as giving the
Recipient any right to be retained in the employ, board membership, or service
of the Company or any of its subsidiaries.

 

3

 

8.                                       Withholding Taxes

 

The
Recipient acknowledges and agrees that the Company has the right to deduct from
payments of any kind otherwise due to the Recipient any federal, state or local
taxes of any kind required by law to be withheld with respect to exercise of
this Option.

 

9.                                       Plan Provisions

 

Except
as otherwise expressly provided herein, this Option and the rights of the
Recipient hereunder shall be subject to and governed by the terms and
provisions of the Plan, including without limitation the provisions of Section 4
thereof.

 

10.                                 Recipient
Representation; Stock Certificate Legend

 

The
Recipient hereby represents that he or she has received and read the Prospectus
filed with the Securities and Exchange Commission as a part of the Registration
Statement on Form S-8, which registered the shares under the Plan.

 

If
the Recipient is an “affiliate” of the Company (as defined in Rule 144
promulgated under the Securities Act of 1933), all stock certificates
representing shares of Common Stock issued to such Recipient pursuant to this
Option shall have affixed thereto legends substantially in the following form:

 

“The
shares represented by this certificate may be deemed to be held by an “affiliate”
as defined by the Securities Act of 1933, as amended (the “Act”) and may not be
sold, transferred or assigned unless such sale is pursuant to an effective
registration statement under the Act or an opinion of counsel, satisfactory to
the corporation, is obtained to the effect that such sale, transfer or
assignment is exempt from the registration requirements of the Act.”

 

11.                                 Notice

 

Any
notice required to be given under the terms of this Option shall be properly
addressed as follows:  to the Company at
its principal executive offices, and to the Recipient at his or her address set
forth below, or at such other address as either of such parties may hereafter
designate in writing to the other.

 

12.                                 Non-Qualified Stock Option

 

It
is understood that this Option is not intended to qualify as an “incentive
stock option” as defined in Section 422 of the Internal Revenue Code.

 

13.                                 Enforceability

 

This
Option shall be binding upon the Recipient, his or her estate, and his or her
personal representatives and beneficiaries.

 

4

 

14.                                 Effective Date

 

The
effective date of this Option is [Date].

 

 

[Remainder
of page intentionally left blank.]

 

5

 

IN
WITNESS WHEREOF, this Option has been executed by a duly authorized officer of
the Company as of the effective date.

 

	
   

  	
   

  	
  AMAG
  Pharmaceuticals, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  David
  A. Arkowitz

  
	
   

  	
   

  	
   

  	
  Chief
  Financial Officer

  
	
   

  	
   

  	
   

  
	
  Recipient’s
  Acceptance:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  The
  undersigned hereby accepts this Option and agrees to the terms and provisions
  set forth in this Option and in the Plan (a copy of which has been delivered
  to him/her).

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (Signature
  of Recipient)

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (Print
  Name of Recipient)

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
   

  	
   

  	
   

  

 

6Exhibit 10.5

 

AMAG PHARMACEUTICALS, INC.

 

Restricted Stock Unit
Agreement

 

AMAG
Pharmaceuticals, Inc. (the “Company”) hereby enters into this
Restricted Stock Unit Agreement, dated as of the date set forth below, with the
Recipient named herein (the “Agreement”) and grants to the Recipient the
Restricted Stock Units (“RSUs”) specified herein pursuant to its Second Amended
and Restated 2007 Equity Incentive Plan,
as amended and in effect from time to time. 
The Terms and Conditions attached hereto are also a part hereof.

 

	
  Name
  of recipient (the “Recipient”):

  	
   

  	
  [Name of Recipient]

  
	
   

  	
   

  	
   

  
	
  Date
  of this RSU grant (the “Grant Date”):

  	
   

  	
  [Date of Grant]

  
	
   

  	
   

  	
   

  
	
  Number
  of shares of the Company’s Common Stock (the “Underlying Shares”)
  underlying the equivalent number of restricted stock units (the “RSUs”)
  granted pursuant to this Agreement:

  	
   

  	
  [Number]

  
	
   

  	
   

  	
   

  
	
  Vesting
  Start Date:

  	
   

  	
  [Date]

  
	
   

  	
   

  	
   

  
	
  Number of RSUs that are vested on the Vesting Start Date:

  	
   

  	
  —0 -

  
	
   

  	
   

  	
   

  
	
  Number
  of RSUs that are unvested the Vesting Start Date:

  	
   

  	
  [Number]

  

 

Vesting
Schedule:

 

	
  June 1,
  20XX

  	
   

  	
  1/12

  
	
  July 1,
  20XX

  	
   

  	
  2/12

  
	
  August 1,
  20XX

  	
   

  	
  3/12

  
	
  September 1,
  20XX

  	
   

  	
  4/12

  
	
  October 1,
  20XX

  	
   

  	
  5/12

  
	
  November 1,
  20XX

  	
   

  	
  6/12

  
	
  December 1,
  20XX

  	
   

  	
  7/12

  
	
  January 1,
  20XX

  	
   

  	
  8/12

  
	
  February 1,
  20XX

  	
   

  	
  9/12

  
	
  March 1,
  20XX

  	
   

  	
  10/12

  
	
  April 1,
  20XX

  	
   

  	
  11/12

  
	
  May 1,
  20XX

  	
   

  	
  12/12

  

 

 

	
   

  	
  AMAG
  PHARMACEUTICALS, INC.

  
	
  Signature
  of Recipient

  	
   

  
	
   

  	
   

  
	
  [Name]

  	
  By:

  	
   

  
	
  [Address]

  	
   

  	
  David A. Arkowitz

  
	
   

  	
   

  	
  Chief
  Financial Officer & Chief Business Officer

  

 

2

 

AMAG PHARMACEUTICALS, INC.

 

Restricted Stock Unit Agreement — Terms and Conditions

 

AMAG
Pharmaceuticals, Inc. (the “Company”) agrees to award to the
recipient specified on the cover page hereof (the “Recipient”), and
the Recipient agrees to accept from the Company, the number of restricted stock
units (the “RSUs”) specified on the cover page hereof representing
an equivalent number of shares of the Company’s Common Stock (the “Underlying
Shares”), on the following terms:

 

1.           Grant Under Plan.  This Restricted Stock Unit Agreement (the “Agreement”)
is made pursuant to and is governed by the Company’s Second Amended and
Restated 2007 Equity Incentive Plan,
as amended and in effect from time to time (the “Plan”), and, unless the
context otherwise requires, capitalized terms used herein shall have the same
meanings as in the Plan.

 

2.               Vesting if Business
Relationship Continues.

 

(a)           Vesting
Schedule.  If the Recipient has
maintained continuously a Business Relationship with the Company through each
date specified on the cover page hereof, a portion of the RSUs shall vest
on such date in such amounts as are set forth opposite such date on the cover page hereof.  If the Recipient’s Business Relationship with
the Company is terminated by the Company or by the Recipient for any reason,
whether voluntarily or involuntarily, no additional RSUs shall become vested
RSUs under any circumstances with respect to the Recipient and any unvested
RSUs shall be forfeited.  Any
determination under this Agreement as to Business Relationship status or other
matters referred to above shall be made in good faith by the Board, whose
decision shall be final and binding on all parties.

 

“Business Relationship” means service to the Company or its
successor in the capacity of an employee, officer, director, consultant, or
advisor.

 

(b)           Termination of
Business Relationship.  For purposes
hereof, a Business Relationship shall not be considered as having terminated
during any  military
leave, sick leave, or other leave of absence if approved in writing by
the Company and if such written approval, or applicable law, contractually
obligates the Company to continue the Business Relationship of the Recipient
after the approved period of absence (an “Approved Leave of Absence”).  In the event of an Approved Leave of Absence,
vesting of RSUs shall be suspended (and all subsequent vesting dates shall be
postponed by the length of the period of the Approved Leave of Absence) unless
otherwise provided in the Company’s written approval of the leave of absence
that specifically refers to this Agreement. 
For purposes hereof, a Business Relationship shall include a consulting
arrangement between the Recipient and the Company that immediately follows
termination of employment, but only if so stated in a written consulting agreement
executed by the Company that specifically refers to this Agreement.

 

 

(c)           Acceleration.  The Board may at any time provide that the
RSUs awarded pursuant to this Agreement shall become immediately exercisable in
full or in part, shall be free of some or all restrictions, or otherwise
realizable in full or in part, as the case may be, despite the fact that the
foregoing actions may cause the application of Sections 280G and 4999 of the
Code if a change in control of the Company occurs.

 

3.             Issuance of Underlying Shares.  With respect to any RSUs that become vested
RSUs pursuant to Section 2, subject to Sections 5 and 6, the Company shall
issue to the Recipient, on the earlier of (a) the third anniversary of the
Grant Date or (b) as soon as practicable (but not later than 90 days)
following the date of termination of the Recipient’s Business Relationship with
the Company, provided that such termination constitutes a “separation from
service” as such term is defined in Treasury Regulation Section 1.409A-1(h),
(in either case, the “Delivery Date”), the number of Underlying Shares
equal to the number of RSUs which are vested as of such date in accordance with
the Vesting Schedule set forth on the cover page of this Agreement,
provided that, if the Delivery Date shall occur during either a regularly
scheduled or special “blackout period” of the Company wherein Recipient is
precluded from selling shares of the Company’s Common Stock, the receipt of the
Underlying Shares pursuant to this Agreement shall be deferred until after the
expiration of such blackout period, unless such Underlying Shares are covered
by a previously established Company-approved 10b5-1 plan of the Recipient, in
which case the Underlying Shares shall be issued in accordance with the terms of
such 10b5-1 plan.  The Underlying Shares
the receipt of which was deferred as provided above shall be issued to
Recipient as soon as practicable after the expiration of the blackout period.  Notwithstanding the above, in no event may
the Underlying Shares be issued to the Recipient later than the later of: (i) December 31st
of the calendar year in which the Delivery Date occurs, or (ii) the
seventy fifth day following the Delivery Date; provided that the Recipient
acknowledges and agrees that if the Underlying Shares are issued to the
Recipient pursuant to this sentence while either a regularly scheduled or
special “blackout period” is still in effect with respect to the Company or the
Recipient, neither the Company nor the Recipient may sell any shares of the
Company’s Common Stock to satisfy any Tax Obligations except in compliance with
the Company’s insider trading policies and requirements and applicable laws;
provided further, that the Recipient acknowledges that the exact date of
issuance of the Underlying Shares shall be at the sole and exclusive discretion
of the Company in accordance with this Section 3.  The form of such issuance (e.g., a stock certificate or electronic
entry evidencing such Underlying Shares) shall be determined by the Company.

 

4.             Restrictions on Transfer.  The Recipient shall not sell, assign,
transfer, pledge, encumber or dispose of all or any of his or her RSUs.  Notwithstanding the foregoing, by delivering
written notice to the Company, in a form satisfactory to the Company, the
Recipient may designate a third party who, in the event of the Recipient’s
death, shall thereafter be entitled to receive any distributions of Underlying
Shares to which the Recipient is entitled at the time of his or her death
pursuant to this Agreement.

 

5.             Compliance with Law.  The grant of the RSUs hereunder, and the
issuance of the Underlying Shares, must comply with all applicable laws and
regulations governing the award, and with the applicable regulations of any
stock exchange on which the Underlying Shares may be listed for trading at the
time of issuance.  The Company shall not
issue the Underlying Shares

 

2

 

to the Recipient if the
Company determines that such issuance would not be in material compliance with
all applicable laws and regulations (in which case issuance of the Underlying
Shares shall occur at the earliest date at which the Company determines that
delivery of the Underlying Shares will not cause any such violation or
non-compliance).

 

6.             Withholding
Taxes.  All grants made pursuant to
this Agreement shall be subject to withholding of all applicable federal,
state, local and foreign income, employment, payroll, social insurance or other
taxes resulting from the issuance or vesting of the RSUs or the delivery of the
Underlying Shares (the “Tax Obligations”).  The Recipient agrees to pay to the Company,
or otherwise make adequate provisions satisfactory to the Company for the
payment of, any sums required to satisfy the Tax Obligations at the time such
Tax Obligations arise.  The Company may,
in its discretion, and the Recipient hereby agrees that and authorizes the
Company on its behalf to, withhold, sell, and/or arrange for the sale of such
number of Underlying Shares otherwise issuable to the Recipient pursuant to
this Agreement as deemed necessary by the Company, in its sole discretion, to
ensure that the Tax Obligations can be satisfied, including the right to sell
shares having a fair market value greater than the Tax Obligations; provided, however,
that for this purpose the Tax Obligations shall be computed based on the
minimum statutory withholding rates for federal, state, local, and foreign
income and employment tax purposes; provided, further,
however, that if the Company decides to satisfy the Tax Obligations
by withholding shares otherwise issuable hereunder (rather than by selling or
arranging for the sale of shares on behalf of the Recipient), the Company shall
not withhold shares having a fair market value greater than the Tax
Obligations.  The Recipient further
agrees that, if the Company elects not to withhold, sell, or arrange for the
sale of the amount of Underlying Shares sufficient to satisfy the full amount
of the Tax Obligations, the Company may withhold such shortfall in cash from
wages or other remuneration or the Recipient will deliver to the Company, in
cash, the amount of such shortfall.  The
Recipient further agrees that the Recipient shall not sell any of the
Underlying Shares during the period of time that the Company is acting on the
Recipient’s behalf to withhold, sell, and/or arrange for the sale of the number
of Underlying Shares necessary to satisfy the Recipient’s Tax Obligations.  Notwithstanding the preceding sentences, the
Recipient may, by written notice to the Company at least ten business days
before the applicable vesting date specified on the cover page hereof,
elect to pay in cash the applicable Tax Obligations, or make other appropriate
provisions acceptable to the Company for the payment of the applicable Tax
Obligations, including the withholding from any payroll or other amounts due to
the Recipient.  The Company may refuse to
issue the Underlying Shares if the Recipient fails to comply with his or her obligations
in connection with the Tax Obligations as described in this Section.

 

Recipient further agrees to take any further actions and execute any
additional documents as may be necessary to effectuate the provisions of this Section 6,
and the Recipient hereby grants the Company an irrevocable power of attorney to
sign such additional documents on the Recipient’s behalf if the Company is
unable after reasonable efforts to obtain Recipient’s signature on such
additional documents.  This power of
attorney is coupled with an interest and is irrevocable by the Recipient.

 

7.             Provision of
Documentation to Recipient.  By
signing the cover page of this Agreement, the Recipient acknowledges receipt of
a copy of this entire Agreement, a copy of the Plan, and a copy of the Plan’s
related prospectus.

 

3

 

8.             Section 409A
of the Internal Revenue Code.  The
RSUs granted hereunder are intended to avoid the potential adverse tax
consequences to the Recipient of Section 409A of the Internal Revenue Code
of 1986, as amended, and the Board may make such modifications to this
Agreement as it deems necessary or advisable to avoid such adverse tax
consequences.

 

9.             Rights as
Stockholder.  The Recipient shall
have no voting or any other rights as a stockholder of the Company with respect
to any RSUs covered by this Agreement until the issuance of the Underlying
Shares.

 

10.           Miscellaneous.

 

(a)           Notices.  All notices hereunder shall be in writing and
shall be deemed given when sent by certified or registered mail, postage prepaid,
return receipt requested, if to the Recipient, to the address set forth on the
cover page hereof or at the address shown on the records of the Company,
and if to the Company, to the Company’s principal executive offices, attention
of the Corporate Secretary.

 

(b)           Entire Agreement;
Modification.  This Agreement
constitutes the entire agreement between the parties relative to the subject
matter hereof, and supersedes all proposals, written or oral, and all other
communications between the parties relating to the subject matter of this
Agreement.  This Agreement may be
modified, amended or rescinded only by a written agreement executed by both
parties signatories to this Agreement. 
In the event of a conflict between the terms of this Agreement and the
Plan, the terms of the Plan shall control.

 

(c)           Fractional RSUs
or Underlying Shares.  All fractional
RSUs or Underlying Shares resulting from the adjustment provisions contained in
the Plan shall be rounded down to the nearest whole unit or share.

 

(d)           Severability.  The invalidity, illegality or
unenforceability of any provision of this Agreement shall in no way affect the
validity, legality or enforceability of any other provision.

 

(e)           Successors and
Assigns.  This Agreement shall be
binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns, subject to the limitations set forth herein.

 

(f)            Governing Law.  This Agreement shall be governed by and
interpreted in accordance with the laws of Delaware without giving effect to
the principles of the conflicts of laws thereof.

 

(g)           No Obligation to
Continue Business Relationship. 
Neither the Plan, nor this Agreement, nor any provision hereof imposes
any obligation on the Company to continue a Business Relationship with the
Recipient.

 

4

 

(h)           For purposes of
Sections 2, 6 and 10(g), the “Company” shall mean the Company as defined in Section
9(a) of the Plan.

 

5

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