Document:

amag_Ex10_1

		
			Exhibit 10.1
		

		
			 
		

		
			AMAG  PHARMACEUTICALS, INC.
		

		
			 
		

		
			Amended and Restated Non-Employee Director Compensation Policy
		

		
			 
		

		
			(Effective January 1, 2015)
		

		
			 
		

		
			The Board of Directors (the “Board”) of AMAG Pharmaceuticals, Inc. (the  “Company” or  “AMAG”) has approved this Amended  and Restated Non-Employee Director Compensation Policy (the “Policy”) to establish compensation to be paid to non-employee directors of the Company or any Affiliate,  effective as of January 1, 2015, which policy supersedes in its entirety the policy previously amended  and restated effective January 1, 2012, to provide an inducement to obtain and retain the services of qualified persons to serve  as members of the Company’s  Board.  Each such Director will receive  as compensation for his or her  services equity grants and cash compensation, all as further set forth herein.
		

		
			 
		

		
			1.Applicable Persons
		

		
			 
		

		
			This Policy shall apply to each member of the Board of the Company who is not an  employee of the Company or an Affiliate  (each, an  “Outside Director”).  Affiliate shall mean a corporation which is a direct or indirect parent or subsidiary of the Company,  as  determined pursuant to  Section 424 of the Internal  Revenue Code of 1986, as amended.
		

		
			 
		

		
			2.Equity Grants
		

		
			 
		

		
			A.Equity Grant  Upon Initial Appointment  or Election as a Director
		

		
			 
		

		
			Each new Outside Director, on the date of his or her initial appointment or election to the Board, will receive  an  equity grant comprised of two components: (i) an inducement grant and (ii) an  annual grant.
		

		
			 
		

		
			As an inducement to joining the Board, each new Outside Director will be granted a non-qualified stock option to purchase 6,000 shares  of the Company’s common stock pursuant to the Company’s Third Amended  and Restated 2007 Equity  Incentive Plan, as it may be  amended from time to time  (the “Stock Plan”), subject  to  automatic  adjustment in the  event of any stock split or other recapitalization affecting the Company’s common stock.  Such option shall vest in  equal  monthly installments over a period of two  (2) years from the date of  his or her  election to the Board, provided such Outside Director continues to serve as a member of the Board.
		

		
			 
		

		
			Upon joining the Board, each  new  Outside Director who joins the Board subsequent to the date of the Annual  Meeting of Stockholders  will also receive an annual equity grant of non-qualified stock options and restricted stock units  (“RSUs”) on the date of  his or her  appointment or  election as  described  below under the heading “Annual Equity Grant;” provided, that  the amount of options and RSUs granted to such new Outside Director will be pro-rated based on the number of expected whole months of service before the next Annual Meeting of Stockholders; provided further, that such options and RSUs will vest in  equal  monthly installments beginning on the first day of the  first full month following appointment or  election and  continuing on the
		

		
			 
		

		
			 
		

		
			

		 

 

first day of each month thereafter through the  first day of the month in which the next Annual Meeting of Stockholders is to be held, so long as  the newly-appointed Outside Director continues to serve  as a member of the Board.
		

		
			 
		

		
			As an  example,  assume the Company’s Annual  Meeting of Stockholders is expected to be held in May, and the annual equity grant for each Outside Director (as  calculated based on the target value as indicated below at  the time such new  Outside Director joins the Board) would otherwise include  (i) a non-qualified option to purchase 4,000 shares of the Company’s common stock, and (ii) an RSU  covering 2,000 shares of the Company’s common stock.  If the new Outside Director were hired in September  with  eight full months of service  expected before the next Annual Meeting of  Stockholders, the new  Outside Director’s option would be pro-rated to 2,667 shares  (calculated as 8/12 x 4,000),  and the new  Outside Director’s RSUs would be pro- rated to 1,334 shares (calculated  as 8/12 x 2,000).   If the new Outside Director were hired in January with four full months of service expected before the next Annual Meeting of  Stockholders, the new  Outside Director’s option would be prorated to 1,334 shares  (calculated  as 4/12 x 4,000),  and the new  Outside Director’s RSUs would be pro-rated to 667 shares (calculated  as 4/12 x 2,000).
		

		
			 
		

		
			B.Annual Equity Grant
		

		
			 
		

		
			At the first meeting of the Board following the Annual Meeting of Stockholders, each Outside Director will be provided  an  equity grant with a target value of $175,000, with 50% of such value to be delivered in the  form of a non-qualified stock option to purchase shares  of the Company’s common stock, and 50% of such  value to be delivered in the form of RSUs covering shares of the Company’s common stock, in each  case pursuant to the Stock Plan.  The number of shares underlying the non-qualified stock option portion of the equity grant shall be based on the Black-Scholes valuation of such options, and the number of shares underlying the RSU portion of the equity grant shall be based on the actual value of the shares on the date of grant, and in each case shall be subject to automatic adjustment in the  event of any stock split or other recapitalization affecting the Company’s common stock.  The  foregoing equity grants are intended to provide  each Outside Director with an equity grant comparable in value to annual  grants provided to non-employee directors of  companies in AMAG’s then  current peer group as  established by the Compensation Committee of the Board (the “Compensation Committee”).
		

		
			 
		

		
			The  foregoing options and RSUs will vest in twelve  equal  monthly installments beginning on the first day of the first full month following the Annual Meeting of Stockholders and  continuing on the first day of each of the  following eleven months thereafter, so long as  the Outside Director continues to serve as a member of the Board; provided, that delivery of any vested shares  of  common stock underlying the foregoing RSUs shall be deferred until the earlier of (i) the first anniversary of the date of grant or (ii) the date the Outside Director’s service to the Company terminates; provided, that such termination constitutes a  “separation from service”  as such term is defined in Treasury Regulation Section 1.409A-1(h).
		

		
			 
		

		
			
		

		
			

		 

		

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C.Exercise Price and Term of Options
		

		
			 
		

		
			Each option granted to an Outside Director shall have  an exercise price per share equal  to the fair market value of the  common stock of the Company on the date of grant of the option (as determined  by the Board in accordance with the Stock Plan), have a term of ten years and shall be subject  to the terms and  conditions of the Stock Plan.  Each such option grant shall be evidenced  by the issuance of the Company’s form non-qualified stock option agreement for Outside Director grants.
		

		
			 
		

		
			D.Early Termination of Options or RSUs Upon Termination of  Service
		

		
			 
		

		
			If an Outside Director ceases to be a member of the Board for any reason, any then vested and unexercised options granted to such Outside Director may be  exercised  by the Outside Director (or, in the case of the Outside Director’s  death or disability,  by the Outside Director’s personal representative, or the Outside Director’s survivors) within three years after the date the director ceases to be a member of the Board and in no event later than the expiration date of the option.
		

		
			 
		

		
			If an Outside Director’s service to the Company is terminated (provided, that such termination constitutes a  “separation from service”  as such term is defined in Treasury  Regulation Section 1.409A-1(h)), all then vested and undelivered shares underlying  any RSUs held by such Outside Director shall be delivered  to the Outside Director (or, in the case of the director’s  death or disability,  by the director’s personal representative, or the director’s survivors) as of the date he or she ceases to be a member of the Board.
		

		
			 
		

		
			3.Retainer Fees
		

		
			 
		

		
			A.Annual Board Retainer
		

		
			 
		

		
			Each Outside Director, other than the Chair, will  receive an  aggregate annual retainer  fee of $40,000, payable in four  equal quarterly installments until July 1, 2016 at which time such annual retainer fee will increase to $45,000. The Chair, provided that he or she is also an Outside Director, will receive an  aggregate  annual  retainer fee of $90,000, payable in four  equal quarterly installments.
		

		
			 
		

		
			B.Annual Standing Committee Retainer
		

		
			 
		

		
			Each member of each of the Company’s standing  committees, other than the Chair, will  also be paid an additional aggregate  annual retainer  fee in four  equal quarterly installments as follows:
		

		
			 
		

			
					
						Audit Committee:

					
					
						    

					
					
						$

					
12,500 
					
					
						 

				
	
					
						Compensation Committee:

					
					
						 

					
					
						$

					
10,000 
					
					
						 

				
	
					
						Nominating and Corporate Governance Committee:

					
					
						 

					
					
						$

					
7,500 
					
					
						 

				

		
			 
		

		
			
		

		
			

		 

		

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The Chair of each of the standing committees will be paid an additional aggregate annual retainer fee in four  equal quarterly installments as follows:
		

		
			 
		

			
					
						Audit Committee:

					
					
						    

					
					
						$

					
25,000 
					
					
						 

				
	
					
						Compensation Committee:

					
					
						 

					
					
						$

					
20,000 
					
					
						 

				
	
					
						Nominating and Corporate Governance Committee:

					
					
						 

					
					
						$

					
15,000 
					
					
						 

				

		
			 
		

		
			4.Per Meeting Fees
		

		
			 
		

		
			In addition to the foregoing retainer fees, for any ad hoc committee (special committees not mentioned above, that may be formed from time to time by the full Board) each Outside Director may receive (i) a per meeting fee of $1,000 for each meeting attended by such Outside Director (other than the Chair of such Committee), and (ii) a per meeting fee of $2,000 for each ad hoc Committee of the Board attended by the Chair. 
		

		
			 
		

		
			The Board reserves the right to institute a per meeting fee for each Board or Committee meeting which is meaningfully in excess of the regularly scheduled meetings (“Special Meeting”), including a per meeting fee of $1,000 for each Special Meeting of the Board and a per meeting fee of $500 for each Special Meeting of the Audit, Compensation, and Nominating and Corporate Governance Committees attended by such Outside Director. It is expected that Special Meetings of the Board and the Committees will be called when necessary to address material matters faced by the Corporation outside of the ordinary course of business.  
		

		
			 
		

		
			The  foregoing per meeting fees will be paid by the Company quarterly in arrears.
		

		
			 
		

		
			5.Reasonable and Documented Expenses
		

		
			 
		

		
			Upon presentation of documentation of such  expenses reasonably satisfactory to the Company,  each Outside Director shall be reimbursed for his or her reasonable out-of-pocket business expenses incurred in connection with attending meetings  of the Board, Committees thereof or in connection with other  Board related business.
		

		
			 
		

		
			6.Amendments
		

		
			 
		

		
			The Board shall review  this Policy from time to time to assess whether  any amendments in the type and amount of  compensation provided herein should be adjusted in order to fulfill the objectives of this  Policy.
		

		
			 
		

		
			7.Interpretation of Policy
		

		
			 
		

		
			Any interpretation of or decisions regarding the application of this  Policy shall be made by the Compensation Committee of the Board.
		

		
			 
		

		
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			4amag_Ex10_3

		
			Exhibit 10.3
		

		
			 
		

		
			AMAG PHARMACEUTICALS, INC.
		

		
			RESTRICTED STOCK UNIT AWARD AGREEMENT
FOR NON-EMPLOYEE DIRECTORS
		

		
			 
		

			
					
						Name of Grantee:

					
					
						 

					
					
						 

				

		
			 
		

			
					
						No. of Restricted Stock Units:

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Grant Date:

					
					
						, 2016

					
					
						 

				

		
			 
		

		
			Pursuant to the AMAG Pharmaceuticals, Inc. Third Amended and Restated 2007 Equity Incentive Plan as amended through the date hereof (the “Plan”), AMAG Pharmaceuticals, Inc. (the “Company”) hereby grants an award of the number of Restricted Stock Units listed above (an “Award”) to the Grantee named above.  Each Restricted Stock Unit shall relate to one share of Common Stock, par value $0.01 per share (the “Stock”) of the Company.
		

		
			 
		

		
			1.         Restrictions on Transfer of Award.  This Award may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of by the Grantee, and any shares of Stock issuable with respect to the Award may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of until (i) the Restricted Stock Units have vested as provided in Section 2 of this Agreement and (ii) shares of Stock have been issued to the Grantee in accordance with the terms of the Plan and this Agreement.
		

		
			 
		

		
			2.         Vesting of Restricted Stock Units.  The restrictions and conditions of Section 1 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule so long as the Grantee maintains a Business Relationship with the Company (as defined below) on such Dates.  If a series of Vesting Dates is specified, then the restrictions and conditions in Section 1  of this Agreement shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date.
		

		
			 
		

			
					
						Incremental Number of

					
					
						    

					
					
						 

				
	
					
						Restricted Stock Units Vested

					
					
						 

					
					
						Vesting Date

				
	
					
						[1/12 of [Number]]

					
					
						 

					
					
						June 1, 20XX

				
	
					
						[1/12 of [Number]]

					
					
						 

					
					
						July 1, 20XX

				
	
					
						[1/12 of [Number]]

					
					
						 

					
					
						August 1, 20XX

				
	
					
						[1/12 of [Number]]

					
					
						 

					
					
						September 1, 20XX

				
	
					
						[1/12 of [Number]]

					
					
						 

					
					
						October 1, 20XX

				
	
					
						[1/12 of [Number]]

					
					
						 

					
					
						November 1, 20XX

				
	
					
						[1/12 of [Number]]

					
					
						 

					
					
						December 1, 20XX

				
	
					
						[1/12 of [Number]]

					
					
						 

					
					
						January 1, 20XX

				
	
					
						[1/12 of [Number]]

					
					
						 

					
					
						February 1, 20XX

				
	
					
						[1/12 of [Number]]

					
					
						 

					
					
						March 1, 20XX

				
	
					
						[1/12 of [Number]]

					
					
						 

					
					
						April 1, 20XX

				
	
					
						[1/12 of [Number]]

					
					
						 

					
					
						May 1, 20XX

				

		
			 
		

		
			
		

		
			

		 

		

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The Administrator may at any time accelerate the vesting schedule specified in this Section 2.
		

		
			 
		

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

		
			 
		

		
			3.         Termination of Business Relationship.  If the Grantee ceases to maintain a Business Relationship with the Company for any reason (including death or disability) prior to the satisfaction of the vesting conditions set forth in Section 2 above, any Restricted Stock Units that have not vested as of such date shall automatically and without notice terminate and be forfeited, and neither the Grantee nor any of his or her successors, heirs, assigns, or personal representatives will thereafter have any further rights or interests in such unvested Restricted Stock Units.
		

		
			 
		

		
			4.         Issuance of Shares of Stock.  The Company shall issue to the Grantee, on the earlier of (a) the first anniversary of the Grant Date or (b) as soon as practicable (but not later than 90 days) following the date of termination of the Grantee’s service, 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 shares of Stock equal to the aggregate number of Restricted Stock Units that have vested pursuant to Section 2 of this Agreement, provided that, if the Delivery Date shall occur during either a regularly scheduled or special “blackout period” of the Company wherein Grantee is precluded from selling shares of the Company’s Stock, the receipt of the shares of Stock pursuant to this Agreement shall be deferred until immediately after the expiration of such blackout period, unless such shares are covered by a previously established Company-approved 10b5-1 plan of the Grantee, in which case the shares shall be issued in accordance with the terms of such 10b5-1 plan. The shares the receipt of which was deferred as provided above shall be issued to the Grantee as soon as practicable after the expiration of the blackout period. Notwithstanding the above, in no event may the shares be issued to the Grantee later than the later of: (i) December 31st of the calendar year in which the Delivery Date occurs, or (ii) the 75th day following the Delivery Date; provided that the Grantee acknowledges and agrees that if the shares are issued to the Grantee pursuant to this sentence while either a regularly scheduled or special “blackout period” is still in effect with respect to the Company or the Grantee, neither the Company nor the Grantee may sell any shares of the Company’s 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 Grantee acknowledges that the exact date of issuance of the shares shall be at the sole and exclusive discretion of the Company in accordance with this Section 4. The form of such issuance (e.g., a stock certificate or electronic entry evidencing such shares) shall be determined by the Company.  Upon such issuance, the Grantee shall thereafter have all the rights of a stockholder of the Company with respect to such shares.
		

		
			 
		

		
			5.         Incorporation of Plan.  Notwithstanding anything herein to the contrary, this Agreement shall be subject to and governed by all the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan.  Capitalized terms in this
		

		
			 
		

		
			
		

		 

		

			Page 2 of 4

		

 

		
			Agreement shall have the meaning specified in the Plan, unless a different meaning is specified herein.
		

		
			 
		

		
			6.         Section 409A of the Code.    The parties intend that this Award will be administered in accordance with Section 409A of the Code.  To the extent that any provision of this Award is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner so that all payments and provisions hereunder comply with Section 409A of the Code.  Anything in this Agreement to the contrary notwithstanding, if at the time of the Grantee’s separation from service within the meaning of Section 409A of the Code, the Company determines that the Grantee is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent the shares of Stock that the Grantee becomes entitled to receive under this Agreement on account of the Grantee’s separation from service would be considered deferred compensation otherwise subject to the 20 percent additional tax imposed pursuant to Section 409A(a) of the Code as a result of the application of Section 409A(a)(2)(B)(i) of the Code, such shares of Stock shall not be issued until the date that is the earlier of (a) six months and one day after the Grantee’s separation from service, or (b) the Grantee’s death.  The determination of whether and when a separation from service has occurred shall be made in accordance with the presumptions set forth in Treasury Regulation Section 1.409A-1(h).
		

		
			 
		

		
			7.         No Obligation to Continue Service.  Neither the Plan nor this Award confers upon the Grantee any rights with respect to continued service as a member of the Board or to the Company.
		

		
			 
		

		
			8.         Integration.  This Agreement constitutes the entire agreement between the parties with respect to this Award and supersedes all prior agreements and discussions between the parties concerning such subject matter.
		

		
			 
		

		
			9.         Data Privacy Consent.  In order to administer the Plan and this Agreement and to implement or structure future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to Social Security or other identification number, home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”).  By entering into this Agreement, the Grantee (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Grantee may have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies consider appropriate.  The Grantee shall have access to, and the right to change, the Relevant Information.  Relevant Information will only be used in accordance with applicable law.
		

		
			 
		

		
			10.       Notices.  Notices hereunder shall be mailed or delivered to the Company at its principal place of business to the attention of the Treasurer of the Company and shall be mailed
		

		
			 
		

		
			
		

		 

		

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			or delivered to the Grantee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing.
		

		
			 
		

		
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						AMAG PHARMACEUTICALS, INC.

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						 

				
	
					
						 

					
					
						 

					
					
						Name:  William K. Heiden

				
	
					
						 

					
					
						 

					
					
						Title:    CEO

				

		
			 
		

		
			The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned, and the undersigned acknowledges receipt of a copy of this entire Agreement, a copy of the Plan, and a copy of the Plan’s related prospectus.  Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Grantee (including through an online acceptance process) is acceptable.
		

		
			 
		

		
			 
		

			
					
						Dated:

					
					
						, 2016

					
					
						    

					
					
						 

				
	
					
						 

					
					
						 

					
					
						Grantee’s Signature

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						Grantee’s name and address:

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				

		
			 
		

		 

		

			Page 4 of 4

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