Document:

Exhibit 10.7.2

 

TALECRIS BIOTHERAPEUTICS HOLDINGS CORP.

 

2005 STOCK OPTION AND INCENTIVE PLAN

 

STOCK OPTION AWARD
AGREEMENT

 

This Stock Option Award Agreement (this “Option Award Agreement”) is
effective as of December 6, 2006 (the “Grant Date”), by and between Talecris
Biotherapeutics Holdings Corp. a Delaware corporation (the “Company”), and the grantee named on
the signature page hereof (the “Grantee”)
pursuant to the Talecris Biotherapeutics
Holdings Corp. 2005 Stock Option and Incentive Plan (the “Plan”). Capitalized terms not
defined in this Option Award Agreement have the meanings ascribed to them in
the Plan.

 

1.             Grant
of Stock Option. Pursuant to the terms and conditions set forth in
Schedule A hereto, this Option Award Agreement and the Plan, the Company hereby
grants to the Grantee an option to purchase (“Option”) all or any part of the
aggregate of the shares of the Company’s Common Stock (the “Shares”) set forth in Schedule A
hereto at a purchase price per Share as set forth in Schedule A hereto (the “Option Exercise Price”). If an executed copy of this Option Award Agreement is not returned to
the Company within ten business days after the date hereof, the grant of
Options hereunder shall be null and void, unless the Company determines, in its
sole discretion, that any delay was for good cause. This Option is
intended to be a non-qualified stock option, and is not intended to qualify as
an Incentive Stock Option.

 

2.             Term
of Option. This Option shall expire on the tenth (10) anniversary of
the Grant Date (the “Expiration Date”)
and must be exercised, if at all, on or before the earlier of the Expiration
Date or the date on which this Option is earlier terminated in accordance with
the provisions of Section 4 of this Option Award Agreement.

 

3.             Vesting.

 

3.1           Performance-Based
Vesting. The Grantee shall vest in the specified number of Options subject
to performance-based objectives as set forth in Schedule A hereto subject to
this Section 3.1 (“Performance-Based Options”). The Performance-Based
Options will vest and become exercisable based on the achievement of the
Company’s annual performance objectives for each of the four fiscal years
following the Grant Date (“Annual Objectives”)
as established each year by the Board of Directors (“Board”). The portion of
the Performance-Based Options allocated to the fiscal year in which the option
was granted shall vest if the Annual Objectives are met as if the option was
granted at the beginning of the fiscal year. Annual Objectives shall normally
be based upon achievement of budgeted EBITDA and Free Cash Flow for the fiscal
year.  

 

 

(a)           Annual
Objectives. For a given fiscal year, where the Annual Objectives are met,
the portion of the Performance-Based Options allocated to such fiscal year
shall vest on April 1st of the subsequent fiscal year, provided
that no Termination of Employment of the Grantee (other than voluntary
termination at age 65 or older (“Retirement”),
death or Disability) has occurred prior to April 1st of such
subsequent fiscal year. In the event of death, Disability or Retirement, for a
given fiscal year where the Annual Objectives are met, the portion of the
Performance-Based Options allocated to the fiscal year in which such event
occurs shall vest on a pro-rata basis for such part of that year that the
Grantee is actively employed. Where the Annual Objectives for such fiscal year
are not met, the portion of the Performance-Based Options allocated to such
fiscal year shall be forfeited, unless the Board in its sole discretion
determines that all or a portion of the Performance-Based Option allocated to
such fiscal year shall vest upon meeting further conditions as defined by the
Board.

 

(b)           Determination
by Board. The Board shall, in its sole discretion, determine whether the
Annual Objectives have been met or exceeded.

 

(c)           Adjustments
to Annual Objectives. The Board may, in its sole discretion, make
appropriate adjustments to Annual Objectives for changes in, or in the timing
of, major capital growth projects, acquisitions, mergers and joint ventures,
and quality of earnings adjustments, or other such factors as determined in
good faith by the Board.

 

3.2           Time-Based
Vesting. The Grantee shall vest in the specified number of Options based on
Grantee’s tenure as set forth in Schedule A hereto subject to this Section 3.2
(“Time-Based Options”). Time-Based Options shall vest and become exercisable in
equal installments on April 1, 2007 and the subsequent three anniversaries of
that date thereafter. Options shall be exercisable only to the extent that
vesting occurred prior to the Grantee’s Termination of Employment. In the event
of death, Disability or Retirement, the Time-Based Options for the year
(defined for the purpose of time based vesting from April 1st to
March 31st) in which such event occurs shall vest on a pro-rata
basis for such part of that year that the Grantee is actively employed.

 

3.3           Accelerated
Vesting on a Change in Control. Upon the effectiveness of a Change in
Control if the Permitted Investors receive an internal rate of return on the
amounts such Permitted Investors have invested in, loaned to and contributed to
the Company (together the “Invested Capital”), compounded annually, of the
greater of at least 30% or two times the Invested Capital, then as provided in
Section 3.6 of the Plan (i) any stock options granted under the Plan shall
become fully vested and immediately exercisable, and (ii) any performance
goals applicable to Awards will be deemed to be fully satisfied and immediately
exercisable, provided, however, that no Termination of Employment has taken
place prior to the effective date of such Change in 

 

2

 

Control (hereinafter referenced as “Accelerated
Vesting”). If, however, upon the effectiveness of a Change in Control the
Permitted Investors have not received an internal rate of return on the
Invested Capital, compounded annually, of the greater of at least 30% or two
(2) times the Invested Capital, than Accelerated Vesting shall only take place
to the extent the surviving entity does not assume the provisions of the Plan
or make provision for the Grantee to participate in a stock option or similar
equity incentive plan with terms that, taken as a whole, are (as determined by
the Board in its sole discretion) not materially less favorable to the Grantee
than the Plan

 

3.4           Non-Vested
Options. This Option shall be exercisable to the extent (and only to the
extent) that it has vested. Except for certain portions of this Option that
may, following Termination of Employment because of death, Disability or
Retirement, vest on a pro-rata basis pursuant to Sections 3.1(a) and 3.2 of
this Agreement, this Option shall cease to vest upon Grantee’s Termination of
Employment, and may be exercised after Grantee’s date of Termination of
Employment only as set forth in Section 4 below. Any portion of this Option
that does not vest, whether due to Termination of Employment, lack of
achievement of performance objectives, or otherwise, will not be exercisable
and will be forfeited.

 

4.             Exercise
of Options Following Termination of Employment.

 

4.1           Termination
of Employment as a Result of Voluntary Resignation or for Any Reason Other than
Death, Disability, Retirement or Cause. Upon Grantee’s Termination of
Employment as a result of voluntary resignation or  for any reason other
than death, Disability, Retirement or Cause, this Option, to the extent (and
only to the extent) that it is vested on the date of Termination of Employment,
may be exercised by Grantee no later than 90 days after the date of such
Termination of Employment, but in no event later than the Expiration Date.

 

4.2           Termination
of Employment Because of Death, Disability or Retirement. Upon Grantee’s
Termination of Employment because of death, Disability  or Retirement (or upon Grantee’s death within
ninety (90) days after Termination of Employment because of Disability or
Retirement), this Option, to the extent (and only to the extent) that it is
vested on the date of employment termination, may be exercised by Grantee (or
Grantee’s legal representative or authorized assignee) no later than twelve
(12) months after the date of such Termination of Employment, but in no event
later than the Expiration Date. To the extent (and only to the extent) that
certain portions of this Option vest following Termination of Employment
because of death, Disability or Retirement on a pro-rata basis pursuant to
Sections 3.1(a) and 3.2 of this Agreement, such pro-rata portions of this
Option may be exercised by Grantee (or Grantee’s legal representative or
authorized assignee) no later than twelve (12) months after the date that such
pro-rata portions vest, but in no event later than the Expiration Date.

 

4.3           Termination
of Employment for Cause. Upon Grantee’s Termination of Employment by the
Company for Cause, all unexercised Options granted 

 

3

 

to Grantee shall immediately terminate and this Option
will expire and terminate on the date of such Termination of Employment or at
such earlier date determined by the Committee.

 

5.             Exercise
and Restriction.

 

5.1           Stock
Option Exercise Agreement. To exercise this Option, Grantee (or in the case
of exercise after Grantee’s death, Grantee’s executor, administrator, heir or
legatee, as the case may be) must deliver to the Company an executed stock
option exercise agreement in the form attached hereto as Exhibit A, or
in such other form as may be required by the Company from time to time (the “Exercise Agreement”), which shall
set forth, inter  alia, Grantee’s election to exercise this
Option, the number of Shares being purchased, any restrictions imposed on the
Shares and any representations, warranties and agreements regarding Grantee’s
investment intent and access to information as may be required by the Company to
comply with applicable securities laws. If a person other than Grantee
exercises this Option, then such person must submit documentation reasonably
acceptable to the Company that such person has the right to exercise this
Option.

 

5.2           Limitations
on Exercise. This Option may not be exercised unless such exercise is in
compliance, to the reasonable satisfaction of the Committee, with all
applicable federal and state securities laws, as they are in effect on the date
of exercise. This Option may not be exercised as to fewer than 100 Shares
unless it is exercised as to all Shares as to which this Option is then
exercisable.

 

5.3           Payment.
The Exercise Agreement shall be accompanied by full payment for the Shares
being purchased (the “Exercise Price”)
in cash (by check), or, if authorized by the Committee in its sole discretion,
the Company may accept payment (i) in outstanding shares of stock, or (ii) by
delivery of an unconditional and irrevocable undertaking by a broker to deliver
promptly to the Company sufficient funds to pay the exercise price.

 

5.4           Tax
Withholding. Prior to the issuance of the Shares upon exercise of this
Option, Grantee must pay any applicable federal or state withholding
obligations of the Company.

 

5.5           Issuance
of Shares. As promptly as is practicable after the receipt of the Exercise
Agreement, in form and substance satisfactory to counsel for the Company,
payment of the Exercise Price and satisfaction of applicable withholding
requirements, and execution by the Grantee of the Stockholders Agreement
applicable to all Grantees if requested by the Company, the Company shall issue
the Shares registered in the name of Grantee, Grantee’s authorized assignee, or
Grantee’s legal representative, and shall deliver certificates representing the
Shares with the appropriate legends affixed thereto. The Company may postpone
such delivery until it receives satisfactory proof that the issuance of such
Shares will not violate any of the provisions of the Securities 

 

4

 

Act of 1933, as amended (the “Securities
Act”), or the Securities Exchange Act of 1934, as amended, any
rules or regulations of the Securities and Exchange Commission promulgated
thereunder, or the requirements of applicable state law relating to
authorization, issuance or sale of securities, or until there has been
compliance with the provisions of such acts or rules. Grantee understands that
the Company is under no obligation to register or qualify the Shares with the
SEC, any state securities commission or any stock exchange to effect such
compliance.

 

5.6           Competitive
or Detrimental Activity. If at any time within eighteen months after the
date on which the Grantee exercises the Option: 
(a) there is a Termination of Employment for Cause (or, if still
employed by the Company, Grantee engages in any activity that would constitute
a basis for a Termination of Employment for Cause); or (b) Grantee engages
in any activity determined in the sole discretion of the Company to be in
violation of any non-competition agreement or covenant between the Grantee and
the Company (or any Related Entity), then any gain realized by Grantee from the
exercise of the Option (“Gain”)
shall be paid by Grantee to the Company upon notice from the Company. Such Gain
shall be determined as of the date of the Option exercise as the difference
between the aggregate exercise price of such Shares and the Fair Market Value
of such Shares on their respective Option exercise dates without regard to any
subsequent change in the Fair Market Value of a Share.

 

6.             Nontransferability
of Option. This Option may not be sold, assigned, pledged,
hypothecated, loaned or otherwise transferred in any manner other than by will
or by the laws of descent and distribution and may be exercised during the
lifetime of Grantee only by Grantee.

 

7.             Purchase
for Purpose of Investment.

 

In the event Grantee exercises the Option prior to an initial public
offering by the Company or counsel to the company otherwise determines that
such representations and legends are required by law:

 

7.1           Investment
Intent at Grant. Grantee represents and agrees that at the time of grant
the Shares to be acquired upon exercising this Option will be acquired for
investment, and not with a view to the sale or distribution thereof.

 

7.2           Investment
Intent at Exercise. In the event that the sale of Shares under the Plan is
not registered under the Securities Act but an exemption is available which
requires an investment representation or other representation, the Grantee
shall represent and agree at the time of exercise that the Shares being
acquired upon exercising this Option are being acquired for investment, and not
with a view to the sale or distribution thereof, and shall make such other
representations as are deemed necessary or appropriate by the Company and its
counsel.

 

7.3           Legends.
If the Company chooses to deliver certificates to evidence the Shares purchased
under this Agreement in an unregistered transaction all 

 

5

 

such certificates shall bear the following legend (and
such other restrictive legends as are required or deemed advisable under the
provisions of any applicable law):

 

“THE SHARES
REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR THE SECURITIES LAWS OF ANY OTHER JURISDICTION, AND MAY
NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS
AND UNTIL (A) REGISTERED UNDER THE SECURITIES ACT OR THE SECURITIES LAWS OF ANY
OTHER JURISDICTION, OR (B) IN THE OPINION OF COUNSEL, IN FORM AND SUBSTANCE
SATISFACTORY TO TALECRIS BIOTHERAPEUTICS HOLDINGS CORP., SUCH OFFER, SALE,
TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE THEREWITH.

 

THE SHARES
REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A REPURCHASE RIGHT IN FAVOR OF
THE COMPANY OR ITS ASSIGNEE AS SET FORTH IN THE STOCK OPTION AWARD AGREEMENT,
DATED                      
 BETWEEN                      
 AND TALECRIS BIOTHERAPEUTICS HOLDINGS
CORP. SUCH REPURCHASE RIGHT IS BINDING ON TRANSFEREES OF THE SHARES REPRESENTED
BY THIS CERTIFICATE.”

 

7.4           Removal
of Legends. If, in the opinion of the Company and its counsel, any legend
placed on a stock certificate representing Shares sold under this Agreement is
no longer required, the holder of such certificate shall be entitled to
exchange such certificate for a certificate representing the same number of
Shares but without such legend.

 

7.5           Administration.
Any determination by the Company and its counsel in connection with any of the
matters set forth in this Section 7 shall be conclusive and binding on the
Employee and all other persons.

 

8.             Right
of Offset. The Company shall have the right to offset against the
obligation to deliver Shares in respect of any exercise of an Option, any
outstanding amounts then owed by Grantee to the Company.

 

9.             Privileges
of Stock Ownership. Grantee shall not have any of the rights of a
stockholder of the Company with respect to any Shares until the Shares are issued
to Grantee and no adjustment shall be made for cash distributions in respect of
such Shares for which the distribution date (or record date, in the event the
Company 

 

6

 

becomes a corporation) is prior to the date upon which
such Grantee or permitted transferee shall become the holder of record thereof.

 

10.          Entire
Agreement. The Plan is incorporated herein by reference. This
Agreement, the Plan, the Exercise Agreement, the Stockholders’ Agreement and
such other documents as may be executed in connection with the exercise of this
Option constitute the entire agreement and understanding of the parties hereto
with respect to the subject matter hereof and supersede all prior
understandings and agreements with respect to such subject matter. Any action
taken or decision made by the Committee arising out of or in connection with
the construction, administration, interpretation or effect of this Agreement
shall lie within its sole discretion, as the case may be, and shall be final,
conclusive and binding on the Grantee and all persons claiming under or through
the Grantee.

 

11.          No
Obligation to Employ. Nothing in the Plan or this Agreement shall
confer on Grantee any right to continue in the employ of, or other relationship
with, the Company or any Related Entity, or limit in any way the right of the
Company or any Related Entity to terminate Grantee’s employment or other
relationship at any time, with or without Cause.

 

12.          Notices.
Any notice required to be given or delivered to the Company under the terms
of this Agreement shall be in writing and addressed to the Corporate Secretary
of the Company at its principal corporate offices. Any notice required to be
given or delivered to Grantee shall be in writing and addressed to Grantee at
the address indicated below or to such other address as such party may
designate in writing from time to time to the Company. All notices shall be
deemed to have been given or delivered upon: 
personal delivery; three (3) days after deposit in the United States
mail by certified or registered mail (return receipt requested); one (1)
business day after deposit with any return receipt express courier (prepaid);
or one (1) business day after transmission by facsimile.

 

13.          Successors
and Assigns. The Company may assign any of its rights under this
Agreement. This Agreement shall be binding upon and inure to the benefit of the
successors and assigns of the Company. Subject to the restrictions on transfer
set forth herein, this Agreement shall be binding upon Grantee and Grantee’s
heirs, executors, administrators, legal representatives, successors and
assigns.

 

14.          Governing
Law. This Agreement shall be governed by and construed in accordance
with the internal laws of the State of New York without regard to that body of
law pertaining to choice of law or conflict of law.

 

7

 

IN WITNESS WHEREOF, the parties
hereto have executed this Agreement as of the date noted above.

 

 

TALECRIS BIOTHERAPEUTICS HOLDINGS
CORP.

 

	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  [Grantee]

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  [Grantee’s Address]

  	
   

  

 

8

 

Schedule A

 

TERMS OF OPTION GRANT

 

Grantee Name: 

 

Grant Date:

 

Total Number of
Shares Underlying the Option:

 

Option Exercise
Price:  $88.00 per share

 

Number of Shares
Underlying Performance-Based Options (65% of Total): 

 

Number of Shares
Underlying Time-Based Options (35% of Total): 

 

A

 

Exhibit A

 

TALECRIS BIOTHERAPEUTICS
HOLDINGS CORP. 

2005 STOCK OPTION AND INCENTIVE PLAN (the “Plan”)

STOCK OPTION EXERCISE AGREEMENT

 

I hereby elect to purchase the number of shares of
Common Stock of Talecris Biotherapeutics Holdings Corp (the “Company”) as set forth below:

 

	
  Grantee: 

  	
   

  	
  Number of Shares
  Purchased:

  
	
   

  	
   

  	
   

  
	
  Social Security
  Number:

  	
   

  	
  Purchase Price
  per Share:

  
	
   

  	
   

  	
   

  
	
  Address:

  	
   

  	
  Aggregate
  Purchase Price:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Date of Option
  Award Agreement:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Type of Option:
  Nonqualified Stock Option

  	
   

  	
  Exact Name of
  Title to Shares:

  

 

1.             Delivery
of Purchase Price. Grantee hereby delivers to the Company the Exercise
Price, either in cash (by check) in the amount of $           ,
receipt of which is acknowledged by the Company, or by some other method as
approved by the Company in its sole discretion;

 

2.             Payment
of Withholding Tax. Grantee hereby delivers to the Company the amount
necessary to satisfy any withholding tax obligations of the Company in cash (by
check) in the amount of
$           , receipt of
which is acknowledged by the Company, or by some other method as approved by the
Company in its sole discretion.

 

3.             Representations.
In the event Grantee exercises the Option prior to an initial public offering
by the Company or counsel to the Company otherwise determines that such
representations and legends are required by law in connection with the exercise
of the Option, Grantee hereby represents to the Company as follows:

 

(a)           Grantee
is acquiring the Shares solely for investment purposes, with no present
intention of distributing or reselling any of the Shares or any interest
therein. Grantee acknowledges that the Shares have not been registered under
the Securities Act of 1933, as amended (the “Securities Act”).

 

(b)           Grantee
is aware of the Company’s business affairs and financial condition and has
acquired sufficient information about the Company to reach an informed and
knowledgeable decision to acquire the Shares.

 

A-1

 

(c)           Grantee
understands that the Shares are “restricted securities” under applicable U.S.
federal and state securities laws and that, pursuant to these laws, he or she
must hold the Shares indefinitely unless they are registered with the
Securities and Exchange Commission and qualified by state authorities, or
unless an exemption from such registration and qualification requirements is
available. Grantee acknowledges that the Company has no obligation to register
or qualify the Shares for resale. Grantee further acknowledges that if an
exemption from registration or qualification is available, it may be conditioned
on various requirements including, but not limited to, the time and manner of
sale, the holding period for the Shares and requirements relating to the
Company which are outside of Grantee’s control, and which the Company is under
no obligation to and may not be able to satisfy.

 

(d)           Grantee
understands that there is no public market for the Shares, that no market may
ever develop for them and that the Shares have not been approved or disapproved
by the Securities and Exchange Commission or any other federal, state or other
governmental agency.

 

(e)           Grantee
understands that the Shares are subject to certain restrictions on transfer set
forth in the Plan. Both the Plan and the applicable Award Agreement pursuant to
which the Option has been granted are incorporated herein by reference.

 

(f)            Grantee
understands that the certificate (if any) representing the Shares will be
imprinted with the following legends:

 

THE SHARES
EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAW AND MAY NOT BE SOLD,
TRANSFERRED, ASSIGNED OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE REGISTRATION
STATEMENT UNDER SUCH ACT COVERING SUCH SHARES OR THE COMPANY RECEIVES AN
OPINION OF COUNSEL FOR THE HOLDER OF THE SHARES, REASONABLY SATISFACTORY TO THE
COMPANY, STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION IS
EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT
AND APPLICABLE STATE SECURITIES LAWS.

 

THE SHARES
REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A REPURCHASE RIGHT IN FAVOR OF 

 

A-2

 

THE COMPANY OR ITS
ASSIGNEE AS SET FORTH IN THE STOCK OPTION AWARD AGREEMENT, DATED                         
BETWEEN                         AND
TALECRIS BIOTHERAPEUTICS HOLDINGS CORP. SUCH REPURCHASE RIGHT IS BINDING ON
TRANSFEREES OF THE SHARES REPRESENTED BY THIS CERTIFICATE.”

 

(g)           Grantee
has consulted his or her own tax advisors in connection with the exercise of
this Option and is not relying upon the Company for any tax advice.

 

(h)           Grantee
is presently an employee of the Company or was an employee within 90 days prior
to exercise (one year if Grantee is no longer an employee due to death or
Disability).

 

4.             Legal
Representatives of Grantee. If Options are being exercised on behalf of
a Grantee, then this Notice must be signed by such Grantee’s legal
representative and must be accompanied by a certificate issued by an
appropriate authority evidencing that the individual signing this Notice has
been duly appointed and is currently serving as the Grantee’s legal
representative under applicable local law governing decedents’ estates.

 

	
  Date:

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Signature of
  Grantee

  

 

A-3

 

Spousal Consent

 

I acknowledge that I have read the foregoing Stock
Option Exercise Agreement (the “Exercise Agreement”),
the Stock Option Award Agreement and the Plan (the “Option
Documents”) and that I know their contents. I hereby consent to
and approve of the exercise of the Option by my spouse in accordance with the
provisions of the Option Documents, and agree that the shares of the Common
Stock of Talecris Biotherapeutics Holdings Corp. purchased thereunder (the “Shares”) and any interest I may have
in such Shares are subject to all the provisions of the Option Documents. I
will take no action at any time to hinder operation of the Exercise Agreement
on these Shares or any interest I may have in or to them.

 

 

	
   

  	
   

  	
  Date:

  	
   

  
	
  Signature of Grantee’s Spouse

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Spouse’s Name - Typed or Printed

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Grantee’s Name - Typed or Printed

  	
   

  	
   

  

 

A-4Exhibit
10.8

 

TALECRIS BIOTHERAPEUTICS HOLDINGS
CORP.

2006 RESTRICTED STOCK PLAN

 

 

Restricted Stock Award Agreement

 

 

You
are hereby awarded Restricted Shares subject to the terms and conditions set
forth in this Restricted Stock Award Agreement (“Award Agreement” or “Award”),
and in the Talecris Biotherapeutics Holdings Corp. 2006 Restricted Stock Plan (the
“Plan”), which is attached as Exhibit A. You should carefully
review the Plan and the attached documents, and consult with your personal
financial advisor, in order to fully understand the implications of this Award,
including your tax alternatives and their consequences.

 

By
executing this Award Agreement, you agree to be bound by all of the Plan’s
terms and conditions as if they had been set out verbatim below. In addition,
you recognize and agree that all determinations, interpretations, or other
actions respecting the Plan and this Award Agreement will be made by the Board
of Directors (the “Board”) of Talecris Biotherapeutics Holdings Corp.
(the “Company”), or any Committee appointed by the Board to administer
the Plan, and shall (in the absence of manifest bad faith or fraud) be final,
conclusive and binding upon all parties, including you, your heirs, and
representatives. Capitalized terms are defined in the Plan or in this Award
Agreement.

 

1.             Specific Terms.
Your Restricted Shares have the following terms:

 

	
  Name of Participant

  	
   

  
	
   

  	
   

  
	
  Number of Shares Subject to Award

   

  	
   

           Shares.

   

  
	
  Purchase Price per Share (if applicable)

   

  	
   

  Not applicable.

   

  
	
  Award Date

  	
  December        ,
  2006

   

  
	
  Vesting

  	
  At the rate of one-third on March 31st of each of
  the years 2008, 2009 and 2010; subject to acceleration as provided in the
  Plan and in Section 2 below, and to your Continuous Service not ending before
  the vesting date.

   

  
	
  Lifetime Transfers

  	
  Not allowed.

  

 

2.             Accelerated Vesting; Change in
Corporate Control. To the extent you have not previously vested
in your rights with respect to this Award, your Award will become
–

 

 

•                        100%
vested if your Continuous Service ends due to your death;

 

•                        100% vested
if your Continuous Service ends due to an Involuntary Termination that occurs
within the one year period following a Change in Control or otherwise as
provided in the Plan in the event of a Change of Control.

 

•                        Vested in
accordance with Section 1 if your
Continuous Service ends due to your Disability, notwithstanding the Continued
Service requirement specified therein.

 

3.             Dividends. Any dividends paid with respect to Restricted
Shares or Shares underlying Restricted Stock Units will only be distributed to
you or your duly-authorized transferee in accordance with this Section of this
Award Agreement. When Shares are delivered to you or your
duly-authorized transferee pursuant to the vesting of the Shares, you or your duly-authorized
transferee shall also be entitled to receive, with respect to each Share
delivered, (i) a number of Shares equal to the stock dividends which were
declared and paid to the holders of Shares between the Award Date and the date
such Share is issued, and (ii) a lump sum payment in an amount equal to any
cash dividends payable between the Grant Date and the settlement date. To the
extent that your Continuous Service ends before vesting of the Shares, you will
forfeit all dividends (whether paid in cash or in stock) attributable to all
such Shares.

 

4.             Issuance of Restricted Shares.
Until all vesting restrictions lapse, any certificates that you
receive for Restricted Shares will include a legend stating that they are
subject to the restrictions set forth in the Plan and this Award Agreement. The certificates evidencing such
Restricted Shares that will be issued will bear the following legend that shall
remain in place and effective until all other vesting restrictions lapse and
new certificates are issued:

 

“The
sale or other transfer of the Share represented by this certificate, whether
voluntary, involuntary, or by operation of law, is subject to certain
restrictions on transfer set forth in the Talecris Biotherapeutics Holdings
Corp. 2006 Restricted Stock Plan, and in any rules and administrative
procedures adopted pursuant to such Plan and in a related Award Agreement. A
copy of the Plan, such rules and procedures and such Award Agreement may be
obtained from the Secretary of Talecris Biotherapeutics Holdings Corp.”

 

5.             Unvested Restricted Shares.
The Company will hold all Restricted Shares in escrow until vesting occurs.
You will be reflected as the owner of record on the Company’s books and records
of any Shares issued pursuant to this Award Agreement. The Company will hold
the stock certificates for safekeeping until such Shares have become vested and
non-forfeitable. You must deliver to the Company, as soon as practicable after
the date any Shares are issued, a stock power, endorsed in blank, with respect
to any such Shares. If you forfeit any Shares, the stock power will be used to
return the certificates for the forfeited Shares to the transfer agent for
cancellation. As the owner of record of any Restricted Shares you qualify to
receive pursuant to this Award Agreement, you will be entitled to all rights of
a stockholder of the Company, including the right to vote Shares; subject,
however, to the provisions of Section 3 hereof with respect to any cash or
stock dividends that are paid between the date of this Award and your receipt
of shares pursuant to a vesting event,

 

2

 

subject in each case to
the treatment of the Award upon termination of employment before the particular
record date for determining stockholders of record entitled to the payment of
the dividend or distribution.

 

6.             Section 83(b) Election Notice. If
you make an election under Section 83(b) of the Internal Revenue Code of 1986,
as amended, with respect to the Shares underlying your Restricted Shares (a “Section
83(b) Election”), you agree to provide a copy of such election to the
Company within 10 days after filing that election with the Internal Revenue
Service. Exhibit B contains a form of Section 83(b) Election, but the
Company makes no recommendation as to whether or not to make such an election.

 

7.             Designation of Beneficiary. Notwithstanding
anything to the contrary contained herein or in the Plan, following the
execution of this Award Agreement, you may expressly designate a beneficiary
(the “Beneficiary”) to your interest, if any, in this Award and any
underling Shares. You shall designate the Beneficiary by completing and
executing a designation of beneficiary agreement substantially in the form
attached hereto as Exhibit C (the “Designation of Beneficiary”)
and delivering an executed copy of the Designation of Beneficiary to the
Company.

 

8.             Restrictions on Transfer
of Award. In accordance with Section 1, lifetime transfers not are
allowed and your rights under this Award Agreement may not be sold, pledged, or
otherwise transferred without the prior written consent of the Committee.

 

9.             Conditions on Issuance of Shares.
Notwithstanding any other provision of the Plan or of this Award Agreement, the
Committee may condition your receipt of Shares on your execution of a
shareholder agreement imposing terms generally applicable to other
similarly-situated employee-shareholders.

 

10.           Taxes. By signing this Award Agreement, you acknowledge that you are solely
responsible and liable for the satisfaction of all taxes and penalties that may
arise in connection with this Award (including any taxes arising under Section
409A of the Code), and the Company shall not have any obligation to indemnify
or otherwise hold you harmless from any or all of such taxes or penalties. The
Committee shall have the sole discretion to interpret the requirements of the
Code, including Section 409A, for purposes of the Plan and this Award Agreement.

 

11.           Notices. Any notice or communication required or permitted
by any provision of this Award Agreement to be given to you shall be in
writing and shall be delivered electronically, personally, or sent by certified
mail, return receipt requested, addressed to you at the last address that the
Company had for you on its records. Each party may, from time to time, by
notice to the other party hereto, specify a new address for delivery of notices
relating to this Award Agreement. Any such notice shall be deemed to be given
as of the date such notice is personally delivered or properly mailed.

 

12.           Binding Effect. Except as otherwise
provided in this Award Agreement or in the Plan, every covenant, term, and
provision of this Award Agreement shall be binding upon and inure to

 

3

 

the benefit of the parties hereto and their respective
heirs, legatees, legal representatives, successors, transferees, and assigns.

 

13.           Modifications. This Award Agreement may
be modified or amended at any time, in accordance with Section 9 of the Plan
and provided that you must consent in writing to any modification that
adversely and materially affects any rights or obligations under this Award
Agreement (with such an affect being presumed to arise from a modification that
would trigger a violation of Section 409A of the Code).

 

14.           Headings. Section and other headings
contained in this Award Agreement are for reference purposes only and are not
intended to describe, interpret, define or limit the scope or intent of this
Award Agreement or any provision hereof.

 

15.           Severability. Every provision of this
Award Agreement and of the Plan is intended to be severable. If any term hereof
is illegal or invalid for any reason, such illegality or invalidity shall not
affect the validity or legality of the remaining terms of this Award Agreement.

 

16.           Counterparts. This Award Agreement may
be executed by the parties hereto in separate counterparts, each of which when
so executed and delivered shall be an original, but all such counterparts shall
together constitute one and the same instrument.

 

17.           Plan Governs. By signing this Award
Agreement, you acknowledge that you have received a copy of the Plan and that
your Award Agreement is subject to all the provisions contained in the Plan,
the provisions of which are made a part of this Award Agreement and your Award
is subject to all interpretations, amendments, rules and regulations which from
time to time may be promulgated and adopted pursuant to the Plan. In the event
of a conflict between the provisions of this Award Agreement and those of the
Plan, the provisions of the Plan shall control.

 

18.           Not a Contract of Employment. By
executing this Award Agreement you acknowledge and agree that (i) any person
who is terminated before full vesting of an award, such as the one granted to
you by this Award, could claim that he or she was terminated to preclude
vesting; (ii) you promise never to make such a claim; (iii) nothing in this
Award Agreement or the Plan confers on you any right to continue an employment,
service or consulting relationship with the Company, nor shall it affect in any
way your right or the Company’s right to terminate your employment, service, or
consulting relationship at any time, with or without Cause; and (iv) the
Company would not have granted this Award to you but for these acknowledgements
and agreements.

 

19.           Pre-IPO Rights and Restrictions on Shares.
At all times prior to an Initial Public Offering, any Shares that you receive
pursuant to this Award will be subject to Section 21 of the Plan. The Company
may repurchase Shares issued pursuant to the Plan upon or after your
termination of Continuous Service. To the extent consistent with Applicable
Law, any such call (repurchase) right shall be at not less than the Fair Market Value of the
Shares to be purchased on the date of such purchase. The right of the Company
to repurchase shall be exercised for cash or cancellation of purchase money
indebtedness.

 

4

 

20.           Governing Law. The laws of the State of
Delaware  shall govern the validity of this
Award Agreement, the construction of its terms, and the interpretation of the
rights and duties of the parties hereto.

 

BY YOUR SIGNATURE BELOW,
along with the signature of the Company’s representative, you and the Company
agree that the Restricted Shares are awarded under and governed by the terms
and conditions of this Award Agreement and the Plan.

 

 

	
   

  	
  TALECRIS BIOTHERAPEUTICS
  HOLDINGS CORP.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
    Name:

  	
   

  
	
   

  	
   

  	
    Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  PARTICIPANT

  
	
   

  	
   

  
	
   

  	
  The undersigned Participant hereby accepts the terms
  of this Award Agreement and the Plan.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
    Name of
  Participant:

  	
   

  

 

5

 

EXHIBIT A

 

TALECRIS BIOTHERAPEUTICS HOLDINGS CORP.

2006 Restricted Stock Plan

 

 

Plan
Document

 

 

 

EXHIBIT B

 

TALECRIS BIOTHERAPEUTICS HOLDINGS CORP.

2006 Restricted Stock Plan

 

 

Section
83(b) Election Form

 

 

Attached is an Internal
Revenue Code Section 83(b) Election Form. IF YOU WISH TO MAKE A SECTION 83(B) ELECTION, YOU MUST DO SO WITHIN 30
DAYS AFTER THE DATE THE RESTRICTED SHARES COVERED BY THE ELECTION WERE
TRANSFERRED TO YOU. The
Company makes no recommendation as to whether or not to make such an election,
but in order to make the election, you must completely fill out the attached
form and file one copy with the Internal Revenue Service office where you file
your tax return. In addition, one copy of the statement also must be submitted
with your income tax return for the taxable year in which you make this election.
Finally, you also must submit a copy of the election form to the Company within
10 days after filing that election with the Internal Revenue Service. A Section
83(b) election normally cannot be revoked.

 

 

TALECRIS BIOTHERAPEUTICS HOLDINGS CORP.

2006 Restricted Stock Plan

 

 

Election
to Include Value of Restricted Shares in Gross Income

in Year
of Transfer Under Internal Revenue Code Section 83(b)

 

 

Pursuant to Section 83(b)
of the Internal Revenue Code, I hereby elect within 30 days after receiving the
property described herein to be taxed immediately on its value specified in
item 5 below.

 

1.                                       My
General Information:

 

Name:

Address:

 

S.S.N.

or
T.I.N.:

 

2.                                       Description
of the property with respect to which I am making this election:

 

                                    
shares of                         
stock of Talecris Biotherapeutics Holdings Corp. (the “Restricted Shares”).

 

3.                                       The
Restricted Shares were transferred to me on                                    ,
20   . This election relates to the 20      
calendar taxable year.

 

4.                                       The
Restricted Shares are subject to the following restrictions:

 

The Restricted Shares are
forfeitable until they are earned in accordance with Section 1 of the Talecris
Biotherapeutics Holdings Corp. 2006 Restricted Stock Plan (“Plan”)
Restricted Share Award Agreement (“Award Agreement”) or other Award
Agreement or Plan provisions. The Restricted Shares generally are not
transferable until my interest becomes vested and nonforfeitable, pursuant to
the Award Agreement and the Plan.

 

5.             Fair market value:

 

The fair market value at
the time of transfer (determined without regard to any restrictions other than
restrictions which by their terms never will lapse) of the Restricted Shares
with respect to which I am making this election is $         
per share.

 

 

6.             Amount paid for Restricted Shares:

 

The amount I paid for the
Restricted Shares is $          
per share.

 

7.             Furnishing statement to employer:

 

A copy of this statement
has been furnished to my employer,                            .
If the transferor of the Restricted Shares is not my employer, that entity also
has been furnished with a copy of this statement.

 

8.             Award Agreement or Plan not affected:

 

Nothing contained herein
shall be held to change any of the terms or conditions of the Award Agreement
or the Plan.

 

Dated:                        ,
200  .

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Taxpayer

  

 

 

EXHIBIT C

 

TALECRIS BIOTHERAPEUTICS HOLDINGS CORP.

2006 Restricted Stock Plan

 

 

Designation of Beneficiary

 

 

In connection with the
Awards designated below that I have received pursuant to the Plan, I hereby
designate the person specified below as the beneficiary upon my death of my
interest in Awards as defined in the Company’s 2006 Restricted Stock Plan (the “Plan”).
This designation shall remain in effect until revoked in writing by me.

 

 

Name of Beneficiary:

 

Address:

 

 

 

Social Security No.:

 

This beneficiary
designation relates to any and all of my rights under the following Award or
Awards:

 

•                        any
Award that I have received or ever receive under the Plan.

 

•                        the
                            
Award that I received pursuant to an award agreement dated                       ,
            between
myself and the Company.

 

I understand that this
designation operates to entitle the above-named beneficiary, in the event of my
death, to any and all of my rights under the Award(s) designated above from the
date this form is delivered to the Company until such date as this designation
is revoked in writing by me, including by delivery to the Company of a written
designation of beneficiary executed by me on a later date.

 

 

	
   

  	
  Date:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
    By:

  	
   

  
	
   

  	
   

  	
  Name of Participant

  

 

Sworn to before me this

       day
of                     ,
200  

 

Notary Public

County of

State of

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