Document:

Exhibit 4.3

 

FORM OF RIGHT CERTIFICATE

 

	
Certificate   No. R-
    	
Rights
    

 

NOT EXERCISABLE AFTER APRIL 6, 2018 OR EARLIER IF REDEMPTION OR EXCHANGE OCCURS OR IF OTHERWISE EXPIRED PURSUANT TO THE RIGHTS AGREEMENT. THE RIGHTS ARE SUBJECT TO REDEMPTION AT $0.01 PER RIGHT AND TO EXCHANGE ON THE TERMS SET FORTH IN THE RIGHTS AGREEMENT.

 

RIGHT CERTIFICATE
 AMAG PHARMACEUTICALS, INC.

 

This certifies that or registered assigns, is the registered owner of the number of Rights set forth above, each of which entitles the owner thereof, subject to the terms, provisions and conditions of the Rights Agreement, dated as of April 7, 2017 (as amended from time to time, the “Rights Agreement”), between AMAG Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and American Stock Transfer & Trust Company, LLC (the “Rights Agent”), to purchase from the Company at any time after the Distribution Date (as such term is defined in the Rights Agreement) and prior to 5:00 p.m., New York time, on the earliest of (a) April 6, 2018, (b) the effective date of the repeal of Section 382 or any successor statute if the Board of Directors determines that the Rights Agreement is no longer necessary or desirable for the preservation of any Tax Benefits (as such term is defined in the Rights Agreement), (c) the first day of a taxable year of the Company to which the Board of Directors determines that no Tax Benefits may be carried forward or (d) the date of the final adjournment of the Company’s 2017 annual meeting of stockholders if, following the final closing of the polls at such meeting, stockholder approval of the Rights Agreement has not been obtained, unless earlier redeemed or exchanged by the Company as described below, at the office of the Rights Agent designated for such purpose, or at the office of its successor as Rights Agent, one one-thousandth of a fully paid non-assessable share of Series A Junior Participating Preferred Stock, par value $0.01 per share (the “Preferred Shares”), of the Company, at a purchase price of $80 per one one-thousandth of a Preferred Share (the “Purchase Price”), upon presentation and surrender of this Right Certificate with the Form of Election to Purchase duly executed. The number of Rights evidenced by this Right Certificate (and the number of one one-thousandths of a Preferred Share which may be purchased upon exercise hereof) set forth above, and the Purchase Price set forth above, are the number and Purchase Price as of              ,      , based on the Preferred Shares as constituted at such date.

 

From and after the time any Person becomes an Acquiring Person, (as such terms are defined in the Rights Agreement), if the Rights evidenced by this Right Certificate are beneficially owned by (i) an Acquiring Person or an Affiliate or Associate of any such Acquiring Person (as such terms are defined in the Rights Agreement), (ii) a transferee of any such Acquiring Person, Associate or Affiliate who becomes a transferee after the Acquiring Person becomes such, or (iii) under certain circumstances specified in the Rights Agreement, a transferee of any such Acquiring Person, Associate or Affiliate who becomes a transferee prior to or concurrently with the Acquiring Person becoming such, such Rights shall become null and void without any further action and no holder hereof shall have any right with respect to such Rights from and after the time any Person becomes an Acquiring Person.  As provided in the Rights Agreement, the Purchase Price and the number of one one-thousandths of a Preferred Share which may be purchased upon the exercise of the Rights evidenced by this Right Certificate are subject to modification and adjustment upon the happening of certain events.

 

This Right Certificate is subject to all of the terms, provisions and conditions of the Rights Agreement, as amended from time to time, which terms, provisions and conditions are hereby incorporated herein by reference and made a part hereof. Reference is made to the Rights Agreement for a full description of the rights, limitations of rights, obligations, duties and immunities hereunder of the Rights Agent, the Company and the holders of the Right Certificates. Copies of the Rights Agreement are on file at the principal executive offices of the Company and the above-mentioned offices of the Rights Agent.

 

This Right Certificate, with or without other Right Certificates, upon surrender at the office of the Rights Agent designated for such purpose, may be exchanged for another Right Certificate or Right Certificates of like tenor and date evidencing Rights entitling the holder to purchase a like aggregate number of Preferred Shares as the

 

1

 

Rights evidenced by the Right Certificate or Right Certificates surrendered shall have entitled such holder to purchase. If this Right Certificate shall be exercised in part, the holder shall be entitled to receive upon surrender hereof another Right Certificate or Right Certificates for the number of whole Rights not exercised.

 

Subject to the provisions of the Rights Agreement, the Rights evidenced by this Certificate (i) may be redeemed by the Company at a redemption price of $0.01 per Right or (ii) may be exchanged in whole or in part for shares of the Company’s Common Stock, par value $0.01 per share, or, upon circumstances set forth in the Rights Agreement, cash, property or other securities of the Company, including fractions of a share of Preferred Stock.

 

No fractional Preferred Shares will be issued upon the exercise of any Right or Rights evidenced hereby (other than fractions which are integral multiples of one one-thousandth of a Preferred Share, which may, at the election of the Company, be evidenced by depositary receipts) but in lieu thereof a cash payment will be made, as provided in the Rights Agreement.

 

No holder of this Right Certificate shall be entitled to vote or receive dividends or be deemed for any purpose the holder of the Preferred Shares or of any other securities of the Company which may at any time be issuable on the exercise hereof, nor shall anything contained in the Rights Agreement or herein be construed to confer upon the holder hereof, as such, any of the rights of a stockholder of the Company or any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold consent to any corporate action, or to receive notice of meetings or other actions affecting stockholders (except as provided in the Rights Agreement), or to receive dividends or subscription rights, or otherwise, until the Right or Rights evidenced by this Right Certificate shall have been exercised as provided in the Rights Agreement.

 

This Right Certificate shall not be valid or obligatory for any purpose until it shall have been countersigned by the Rights Agent.

 

WITNESS the facsimile or .PDF signature of the proper officers of the Company and its corporate seal.

 

Dated as of .

 

	
ATTEST:
    	
AMAG PHARMACEUTICALS, INC.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Joseph D. Vittiglio
    	
William K. Heiden
    
	
Senior Vice President, General Counsel & Secretary
    	
Chief Executive Officer
    
			

 

COUNTERSIGNED:

 

AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC

 

as Rights Agent

 

	
By:
    	
 
    	
 
    
	
 
    	
[Name]
    	
 
    
	
 
    	
[Title]
    	
 
    

 

2

 

Form of Reverse Side of Right Certificate

 

FORM OF ASSIGNMENT

 

(To be executed by the registered holder if such
 holder desires to transfer the Right Certificate.)

 

FOR VALUE RECEIVED                                                                              hereby sells, assigns and transfers unto

 

	
 
    
	
(Please print   name and address of transferee)
    

 

this Right Certificate, together with all right, title and interest therein, and does hereby irrevocably constitute and appoint                                                  Attorney, to transfer the within Right Certificate on the books of the within-named Company, with full power of substitution.

 

	
Dated:
    	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    

 

3

 

SIGNATURE GUARANTEED:

 

Signatures must be guaranteed by an “eligible guarantor institution” as defined in Rule 17Ad-15 promulgated under the Securities Exchange Act of 1934, as amended.

 

 

The undersigned hereby certifies that (1) the Rights evidenced by this Right Certificate are not being sold, assigned or transferred by or on behalf of a Person who is or was an Acquiring Person, an Interested Stockholder or an Affiliate or Associate thereof (as such terms are defined in the Rights Agreement); and (2) after due inquiry and to the best of the knowledge of the undersigned, the undersigned did not acquire the Rights evidenced by this Right Certificate from any Person who is or was an Acquiring Person, an Interested Stockholder, or an Affiliate or Associate thereof.

 

	
 
    	
 
    
	
 
    	
Signature
    

 

4

 

FORM OF ELECTION TO PURCHASE

 

(To be executed if holder desires to exercise
 Rights represented by the Right Certificate.)

 

To           American Stock Transfer & Trust Company, LLC, as Rights Agent

 

The undersigned hereby irrevocably elects to exercise                                                        Rights represented by this Right Certificate to purchase the Preferred Shares (or other securities or property) issuable upon the exercise of such Rights and requests that certificates for such Preferred Shares (or other securities or property) be issued in the name of:

 

	
Please insert social   security
    
	
or other identifying   number:
    	
 
    	
 
    

 

 

	
 
    
	
(Please print   name and address)
    
	
 
    
	
 
    

 

If such number of Rights shall not be all the Rights evidenced by this Right Certificate, a new Right Certificate for the balance remaining of such Rights shall be registered in the name of and delivered to:

 

	
Please insert social   security
    
	
or other identifying   number:
    	
 
    	
 
    

 

 

	
 
    
	
(Please print   name and address)
    
	
 
    
	
 
    

 

	
Dated:
    	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    

 

5

 

SIGNATURE GUARANTEED:

 

Signatures must be guaranteed by an “eligible guarantor institution” as defined in Rule 17Ad-15 promulgated under the Securities Exchange Act of 1934, as amended.

 

 

The undersigned hereby certifies that (1) the Rights evidenced by this Right Certificate are not beneficially owned by nor are they being exercised on behalf of an Acquiring Person, an Interested Stockholder or an Affiliate or Associate thereof (as such terms are defined in the Rights Agreement); and (2) after due inquiry and to the best of the knowledge of the undersigned, the undersigned did not acquire the Rights evidenced by this Right Certificate from any Person who is or was an Acquiring Person, an Interested Stockholder, or an Affiliate or Associate thereof.

 

	
 
    	
 
    
	
 
    	
Signature
    

 

 

NOTICE

 

The signature in the Form of Assignment or Form of Election to Purchase, as the case may be, must conform to the name as written upon the face of this Right Certificate in every particular, without alteration or enlargement or any change whatsoever.

 

In the event the certification set forth above in the Form of Assignment or the Form of Election to Purchase, as the case may be, is not completed, the Company and the Rights Agent will deem the beneficial owner of the Rights evidenced by this Right Certificate to be an Acquiring Person or an Affiliate or Associate thereof (as defined in the Rights Agreement) and such Assignment or Election to Purchase will not be honored.

 

6Exhibit 10.1

 

ARQULE, INC.

2014 EQUITY INCENTIVES PLAN

PERFORMANCE STOCK OPTION AGREEMENT

 

THIS
PERFORMANCE STOCK OPTION AGREEMENT (the “Option Agreement”) is dated as of April 5, 2017 (the “Grant
Date”) by and between ArQule, Inc., a Delaware Company (the “Company”), and ____________________ (the
“Participant”). Capitalized terms used herein and not otherwise defined shall have the meaning assigned to such
terms in the ArQule, Inc. 2014 Equity Incentives Plan (the “Plan”).

 

W I T N E S S E T H

 

WHEREAS, pursuant to and under the Plan
, the Company desires to grant to the Participant, effective as of the date hereof, the Option (as defined below), upon the terms
and conditions set forth herein and in the Plan.

 

NOW THEREFORE, in consideration of the
mutual promises made herein and the mutual benefits to be derived therefrom, the parties agree as follows:

 

		1.	Grant.

 

According to and subject to the terms and conditions
of this Option Agreement and the Plan, which is incorporated herein by reference, the Company hereby grants to the Participant
the option (the “Option”) to purchase all or any part of an aggregate of ___________ of Common Stock (the “Shares”)
at the exercise price of $________ per share (the “Exercise Price”). The Option will be treated as a Nonqualified
Stock Option. A copy of the Plan is publicly available and has been filed with the SEC and will be furnished to the Participant
upon the Participant’s request.

 

		2.	Time-Based Vesting and Performance Conditions.

 

The Option may be exercised only to the extent
it is vested. The Option shall vest and become exercisable only as follows:

 

		2.1.	Time-Based Vesting Schedule. This Option shall vest and become exercisable, subject to satisfaction of the Performance
Vesting Conditions specified below, in cumulative one-twelfth (1/12) increments beginning on April 5, 2017 and at the end of each
three-month period thereafter. (Time-Based Vesting Schedule” and each such date, a “Time-Based Vesting Date”).

 

     

     

    

 

		2.2.	Performance Conditions. Notwithstanding the Time-Based Vesting Schedule outlined above, unless one or more of the Performance
Conditions established by the Committee as set forth in its vote of even date herewith has been satisfied (each, a “Performance-Vesting
Condition”), no portion of this Option shall vest or be exercisable. In the event that a Performance-Vesting Condition
is met, then the Option will be vested and exercisable (i) as to the percentage of Shares underlying the Option as to which a Performance-Vesting
Condition has been achieved (such percentage being the “Performance-Earned Percentage”) and (ii) to the extent
the Time-Based Vesting Schedule has been satisfied on that date. The balance, if any, of the Performance-Earned Percentage of the
Option will remain eligible to vest on each subsequent Time-Based Vesting Date. The Performance-Vesting Conditions and related
Performance-Earned Percentage are set forth in the following table:

 

	Performance Vesting Conditions	Performance Earned Percentage
	Satisfaction of Performance Vesting Condition No. 1	100%  of the underlying Shares
	Satisfaction of Performance Vesting Condition No. 2	25% or 50% of the underlying Shares, depending on the level of performance achieved
	Satisfaction of Performance Vesting Condition No. 3	25% or 50% of the underlying Shares, depending on the level of performance achieved

 

In no event will the Option vest and become
exercisable as to more than 100% of the underlying Shares.

 

		3.	Termination.

 

Any portion of the Option that is not vested
on the Participant’s Termination Date shall terminate on the Termination Date.

 

		4.	Cumulative Exercisability.

 

To the extent that the Option is vested and
exercisable, the Participant has the right to exercise the Option (to the extent not previously exercised), and such right shall
continue, until the expiration or earlier termination of the Option as provided in this Option Agreement and the Plan.

 

		5.	Continuance of Employment/Service Required; No Employment/Service Commitment.

 

In no event shall the vested percentage of the
Option increase after the Participant’s Termination of Service.

 

The Option grant and the Participant’s
participation in the Plan shall not create a right to continued employment or service with the Company or any Subsidiary nor shall
it create a right to employment or be interpreted as forming an employment or services contract with the Company or any Subsidiary
and shall not interfere with the ability of the Company or any Subsidiary, as applicable, to terminate the Participant’s
employment or service relationship (if any) or affect the right of the Company or any Subsidiary to increase or decrease the Participant’s
other compensation. Notwithstanding the foregoing, nothing in this Option Agreement shall adversely affect any contractual right(s)
of the Participant that exist between the Participant and Company or any Subsidiary.

 

     

     

    

 

For purposes of this Option, “Termination
of Service” means a cessation of the employee-employer relationship between the employee and the Company or one of its
Subsidiaries for any reason, including, but not by way of limitation, a termination by resignation, discharge, death, disability
or the disaffiliation of a Subsidiary, but excluding any such termination where there is a simultaneous reemployment by the Company
or one of its Subsidiaries. The determination of whether a Termination of Service has occurred shall be made by the Committee,
in its sole discretion, in accordance with the terms of the Plan.

 

		6.	Method of Exercise of Option.

 

Any vested portion of the Option may be exercised
by the Participant’s delivery of a written or electronic notice of exercise (in a form acceptable to the Company) to the
Secretary of the Company (or its designee), setting forth the number of Shares with respect to which the Option is to be exercised,
accompanied by full payment of the aggregate Exercise Price. Payment of the Exercise Price may be made: (i) in cash or by check
(or any combination thereof); (ii) irrevocable instructions to a broker to deliver promptly to the Company cash equal to the Exercise
Price; (iii) by delivery (by either actual delivery or attestation) of shares of Common Stock (valued at the date of exercise at
their Fair Market Value) owned by the Participant at the time of exercise for a period of at least six months (or other time period,
if any, determined by the Committee) and otherwise acceptable to the Committee, (iv) by directing the Company to withhold from
the Shares to be issued upon exercise of the Option (or portion thereof) being exercised a number of Shares having a Fair Market
Value not in excess of the aggregate Exercise Price of the Option (or portion thereof) being exercised, (v) by such other methods
as may be permitted by the Committee in its sole discretion in accordance with the Plan; or (vi) by a combination of the foregoing
methods.

 

As soon as practicable after receipt of the
Participant’s written notice of exercise and full payment of the Exercise Price and any Tax-Related Items, the Company shall
deliver to the Participant Share certificates (which may be in book entry form) representing the Shares underlying the exercised
portion of the Option.

 

		7.	Expiration Date of Option.

 

This Option will terminate as to any Shares
covered hereby to the extent that it has not vested and become exercisable on or before the third anniversary of the date hereof.
To the extent that one or more Performance Vesting Conditions has been satisfied, this Option will expire, on the tenth (10th)
anniversary of the Grant Date (the “Expiration Date”), subject to earlier termination in accordance with Section
8 hereof.

 

     

     

    

 

		8.	Post-Termination Exercise Period.

 

To the extent that prior to Termination of Service
the Option has vested in whole or in part in accordance with the terms hereof, the Option will terminate on the date that is three
(3) months after the Participant ceases to be an employee of the Company or one of its Subsidiaries or twelve (12) months after
the Participant ceases to be an employee of the Company or one of its Subsidiaries if such cessation of service is the result of
the Participant’s death or Disability). For these purposes, “Disability” means a permanent and total disability
within the meaning of Section 22(e)(3) of the Code.

 

		9.	Non-Transferability.

 

The Option may not be subject to sale, transfer,
alienation, assignment, pledge, encumbrance or charge, other than by will or by the laws of descent and distribution and the Option
may only be exercised by the Participant during his or her lifetime.

 

		10.	Tax Withholding.

 

The Company’s obligation to issue or deliver
Shares upon the exercise of the Option shall be subject to the satisfaction of any applicable federal, state and local tax withholding
requirements. The Participant may satisfy any such withholding obligation by any of the following means or by a combination of
such means: (a) tendering a cash payment; (b) authorizing the Company to withhold Shares (other than unvested Shares) from the
Shares otherwise issuable to the Participant upon exercise of the Option; or (c) by delivering to the Company already-owned and
unencumbered shares of Common Stock. For purposes of this Section 10, shares of Common Stock that are withheld or delivered to
satisfy applicable withholding taxes shall be valued at their Fair Market Value on the date the withholding tax obligation arises,
and in no event shall the aggregate Fair Market Value of the shares of Common Stock withheld and/or delivered pursuant to this
Section 10 exceed the minimum amount of taxes required to be withheld in connection with exercise of the Option.

 

		11.	Notice.

 

Any notice to be given under the terms of this
Option Agreement shall be in writing and addressed to the Company at its principal office to the attention of the Secretary, and
to the Participant at the address last reflected on the Company’s payroll records, or at such other address as either party
may hereafter designate in writing to the other. Any such notice shall be delivered in person or by recognized overnight express
courier providing evidence of delivery or via certified mail, receipt requested. Any such notice shall be deemed given only when
received and shall be deemed to have been received upon actual receipt, two (2) business days after deposit with a recognized overnight
express courier with charges prepaid, or five (5) business days after mailed by certified mail, postage prepaid.

 

     

     

    

 

		12.	Plan.

 

The Option and all rights of the Participant
under this Option Agreement are subject to the terms and conditions of the Plan, incorporated herein by reference. The Participant
agrees to be bound by the terms of the Plan and this Option Agreement. The Participant acknowledges having read and understanding
the Plan and this Option Agreement. Unless otherwise expressly provided in other sections of this Option Agreement, provisions
of the Plan that confer discretionary authority on the Committee do not and shall not be deemed to create any rights in the Participant
unless such rights are expressly set forth herein or are otherwise in the sole discretion of the Administrator so conferred by
appropriate action of the Administrator under the Plan after the date hereof.

 

		13.	Entire Agreement.

 

This Option Agreement and Plan constitute the
entire agreement and supersede all prior understandings and agreements, written or oral, of the parties hereto with respect to
the subject matter hereof.

 

The Plan may be amended, suspended or terminated
pursuant to Section 15 of the Plan. This Option Agreement may only be amended in writing by the parties hereto; provided that this
Option Agreement may be amended by the Administrator if the Administrator determines, in its sole discretion, that the amendment
is required or advisable in order for the Company, the Plan or this Option to satisfy applicable law. In any such case the Administrator
will act to avoid any impact on Participant. In addition, the Company may unilaterally waive any provision hereof in writing to
the extent such waiver does not adversely affect the interests of the Participant hereunder, but no such waiver shall operate as
or be construed to be a subsequent waiver of the same provision or a waiver of any other provision hereof.

 

		14.	Effect of this Agreement.

 

Subject to the Company’s right to terminate
the Option pursuant to Section__ of the Plan, this Option Agreement shall be assumed by, be binding upon and inure to the benefit
of any successor or successors to the Company.

 

		15.	Counterparts.

 

This Option Agreement may be executed simultaneously
in any number of counterparts, including through electronic transmission, each of which counterparts shall be deemed an original
but all of which together shall constitute one and the same instrument.

 

		16.	Section Headings.

 

The section headings of this Option Agreement
are for convenience of reference only and shall not be deemed to alter or affect any provision hereof.

 

     

     

    

 

		17.	Governing Law; Venue.

 

This Option Agreement shall be governed by and
construed and enforced in accordance with the laws of the Commonwealth of Massachusetts without regard to conflict of law principles.

 

		18.	Electronic Delivery and Acceptance.

 

The Company may, in its sole discretion, decide
to deliver any documents related to current or future participation in the Plan by electronic means. The Participant hereby consents
to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system
established and maintained by the Company or a third party designated by the Company.

 

		19.	Severability.

 

The provisions of this Option Agreement are
severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining
provisions shall nevertheless be binding and enforceable.

 

IN WITNESS WHEREOF, the Parties have executed
or caused to be executed this Option Amendment as of the date set forth above.

 

	ARQULE, INC.	 	EXECUTIVE
	 	 	 	 	 
	By: 	 	 	By: 	 
	 	 	 	 	 
	Name: 	 	 	Name: 	 
	 	 	 	 	 
	Date: 	 	 	Date:

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