Document:

exv10w3

 

Exhibit 10.3

FRANCE

ALLERGAN, INC.

2008 INCENTIVE AWARD PLAN

SUB-PLAN — STOCK OPTIONS

This sub-plan (the “Sub-Plan”) for the Allergan, Inc. 2008 Incentive Award Plan, as amended
from time to time (the “Plan”), provides additional definitions and conditions that will
apply to the operation of the Plan with respect to each “Option” (as defined in the Plan) granted
to an “Eligible French Employee” (as defined below).

The additional terms and conditions provided for by the Sub-Plan are specific to Eligible French
Employees only and do not affect the rights afforded to any other individual granted an Option or
any other award under the Plan. The additional terms and conditions provided for by the Sub-Plan
also do not affect the terms of the Plan for purposes of compliance with U.S. laws (including,
without limitation, tax and securities laws).

The provisions of this Sub-Plan form an integral part of the Plan and each Option granted to an
Eligible French Employee shall be governed by the provisions of this Sub-Plan. The provisions of
the Plan shall remain applicable insofar as they do not contradict the provisions of the Sub-Plan.

Notwithstanding any other provision of the Plan, Options may be granted under the Sub-Plan to
Eligible French Employees as follows:

	1.	 	Definitions. Wherever the following terms are used in the Sub-Plan they shall have the
meanings specified below, unless the context clearly indicates otherwise. Capitalized terms
not specifically defined herein shall have the meanings specified in the Plan or, if not
defined therein, the Terms.
	 
	 	 	“Eligible French Employee” means any Employee of a French Subsidiary under the terms
of a written or oral employment agreement and/or any Employee of a French Subsidiary holding
an executive office and who may be granted Options under the law.
	 
	 	 	“Date of Grant” means, with respect to any Option granted to an Eligible French
Employee, the date on which the Administrator (i) makes the determination granting such
Option, (ii) determines the number of shares subject to such Option and (iii) determines the
exercise price for such Option.
	 
	 	 	“French Subsidiary” means a Subsidiary incorporated, domiciled, organized or formed
in France.
	 
	 	 	“Participant” means only an Eligible French Employee who has been granted an Option
pursuant to the Plan.
	 
	2.	 	Exercise Price. The exercise price per share of Stock subject to an Option shall not be less
than the greater of the following:

	 	(i)	 	the Fair Market Value on the date of grant, or
	 
	 	(ii)	 	95% of the “20 Day Average” price per share of Stock.

The “20 Day Average” price per share of Stock shall be calculated by (i) determining the
daily average of the closing trading price per share of Stock for each of the 20 trading
days immediately preceding the date of grant (each, a “Daily Average”), and (ii)
dividing the aggregate amount of all Daily Averages by 20.

 

 

	3.	 	Suspension of Grants. No Option may be granted to any Eligible French Employee during any of
the following:

	 	(i)	 	the period (A) starting ten trading sessions preceding the date
on which the consolidated accounts or annual accounts of the Company are
published and (B) ending at the close of the tenth trading session following
the publication of such information;
	 
	 	(ii)	 	the period (A) starting from the date on which the corporate
bodies of the Company become aware of any information which, if published,
could significantly affect the company’s market price and (B) ending at the
close of the tenth trading session following the publication of such
information; and
	 
	 	(iii)	 	the period (A) starting on the day a coupon giving a right to
a dividend or to a capital increase has been detached from the shares of Stock
and (B) ending at the close of the twentieth trading session following such
date.

	4.	 	Adjustments. No adjustments shall be made to the exercise price of an Option or the number
of shares subject to an Option, except as otherwise permitted under the Article L 225-181 of
the French Commercial Code.
	 
	5.	 	10% Stockholders. No Option shall be granted to any Eligible French Employee who, on the
date of grant, owns shares representing 10% or more of the outstanding common stock of the
Company.
	 
	6.	 	Currency. All amounts payable by a Participant shall be paid in U.S. dollars.
	 
	7.	 	Other Terms. Unless provided otherwise in this Sub-Plan, the terms and conditions of the
Plan shall remain unchanged.exv10w4

 

Exhibit 10.4

NON-EMPLOYEE DIRECTOR

NON-QUALIFIED STOCK OPTION GRANT NOTICE

     Pursuant to the Allergan, Inc. 2008 Incentive Award Plan (the “Plan”), Allergan, Inc. (the
“Company”) hereby grants to the individual listed below (“Participant”) an option to purchase the
number of shares of the Company’s common stock, par value US$0.01 per share (“Stock”), set forth
below (the “Shares”) at the price set forth below (the “Option”). The Option is subject to all of
the terms and conditions set forth herein, in the Stock Option Agreement attached hereto as
Exhibit A (the “Stock Option Agreement”) and in the Plan, each of which is incorporated
herein by reference. Unless otherwise defined herein, the terms defined in the Plan shall have the
same defined meanings in this Non-Qualified Stock Option Grant Notice (the “Grant Notice”).

	 	 	 	 	 	 	 
	Participant:
	 	 	 	 	 	 
	 	 	 	 	 	 	 
	Grant Date:
	 	 	 	 	 	 
	 	 	 	 	 	 	 
	Exercise Price per Share:
	 	US$	 	 	 	 
	 	 	 	 	 	 	 
	Total Exercise Price:
	 	US$	 	 	 	 
	 	 	 	 	 	 	 
	Total Number of Shares

Subject to the Option:
	 	
shares	 	 	 	 
	 	 	 	 	 	 	 
	Expiration Date:
	 	 	 	 	 	 
	 	 	 	 	 	 	 

	 	 	 	 	 	 	 
	Type of Option:	 	Non-Qualified Stock Option
	 
	 	 	 	 	 	 
	Vesting Schedule:	 	Subject to the terms and conditions of the Plan, this
Grant Notice and the Stock Option Agreement, the Option
shall vest and become exercisable for all of the shares
of Stock subject to the Option upon the earlier of:
	 
	 	 	 	 	 	 
	 

	 	 	 	(i)
	 	the first anniversary of the Grant
Date, or
	 
	 	 	 	 	 	 
	 

	 	 	 	(ii)
	 	the next annual meeting at
which one or more members of the Board are standing for
re-election.
	 
	 	 	 	 	 	 
	 	 	In no event, however, shall the Option vest and become exercisable for any
additional shares of Stock following Participant’s termination of service as
a Director of the Company, except as may otherwise be provided by the
Administrator or as set forth in a written agreement between the Company and
Participant.

Remainder of page intentionally left blank.

 

 

     By his or her signature below, Participant agrees to be bound by the terms and conditions of
the Plan, the Stock Option Agreement and this Grant Notice. Participant has reviewed the Stock
Option Agreement, the Plan and this Grant Notice in their entirety, has had an opportunity to
obtain the advice of counsel prior to executing this Grant Notice and fully understands all
provisions of this Grant Notice, the Stock Option Agreement and the Plan. Participant hereby
agrees to accept as binding, conclusive and final all decisions and interpretations of the
Administrator arising under the Plan, this Grant Notice or the Stock Option Agreement or relating
to the Option.

	 	 	 
	ALLERGAN, INC.:

	 	PARTICIPANT:
	 
	 	 
	By:

	 	By:
	 

	 	 

	Print Name:

	 	Print Name:
	 

	 	 

	Title:
	 	 
	 

	 	 
	Address:   2525 Dupont Drive

	 	Address:
	Irvine, California 92612

	 	 

	 

	 	 

			
	Attachments:	 	Stock Option Agreement (Exhibit A)

Allergan, Inc. 2008 Incentive Award Plan (Exhibit B)

Allergan, Inc. 2008 Incentive Award Plan Prospectus (Exhibit C)

 

 

EXHIBIT A TO THE NON-QUALIFIED STOCK OPTION GRANT NOTICE

TERMS AND CONDITIONS

May 2008

     Pursuant to the Non-qualified Stock Option Grant Notice (the “Grant Notice”) to which this
Non-qualified Stock Option Agreement (this “Agreement”) is attached, Allergan, Inc. (the “Company”)
granted to the participant (“Participant”) specified on the Grant Notice an option under the
Allergan, Inc. 2008 Incentive Award Plan (the “Plan”) to purchase the number of shares of the
Company’s common stock, par value US$0.01 per share (“Stock”), indicated in the Grant Notice,
subject to the terms and conditions of the Grant Notice, this Agreement and the Plan.

I. GENERAL

     1.1. Defined Terms. Capitalized terms not specifically defined herein shall have the
meanings specified in the Grant Notice or, if not defined therein, the Plan.

     1.2. Incorporation of Terms of Plan. The Option (as defined below) is also subject to
the terms and conditions of the Plan, which are incorporated herein by reference.

II. GRANT OF OPTION

     2.1. Grant of Option. In consideration of Participant’s past and/or continued service
to the Company or its Subsidiaries and for other good and valuable consideration, effective as of
the grant date specified on the Grant Notice (the “Grant Date”), the Company irrevocably grants to
Participant an option (the “Option”) to purchase any part or all of the Shares specified on the
Grant Notice, subject to the terms and conditions set forth in the Plan and this Agreement.

     2.2. Exercise Price. The exercise price payable for the Shares subject to the Option
shall be as set forth in the Grant Notice, without commission or other charge.

III. PERIOD OF EXERCISABILITY

     3.1. Commencement of Exercisability.

          (a) Subject to Sections 3.3 and 3.4, the Option shall become vested and exercisable in such
amounts and at such times as are set forth in the Grant Notice and Section 3.2 below, or at such
earlier times as are set forth in a written agreement between the Company and Participant.

          (b) The unvested and unexercisable portion of the Option shall terminate immediately upon
Participant’s termination of service as a Director of the Company.

     3.2. Acceleration of Exercisability. Notwithstanding anything to the contrary in
Section 3.1 or the Grant Notice, the Option shall become fully vested and exercisable on an
accelerated basis under the following circumstances:

          (a) if Participant’s termination of service as a Director of the Company occurs by reason of
Participant’s death or permanent and total disability (within the meaning of Section 22(e)(3) of
the Internal Revenue Code of 1986, as amended), then the Option shall become fully vested and
exercisable immediately prior to Participant’s termination of service as a Director of the Company;
and

 

 

          (b) if a Change in Control occurs prior to Participant’s termination of service as a Director
of the Company, then the Option shall become fully vested and exercisable immediately prior to the
occurrence of such Change in Control.

     3.3. Duration of Exercisability. The Option shall become vested and exercisable for
the shares of Stock in one or more installments as specified in Section 3.1, subject to
acceleration as provided in Section 3.2 or the Plan, or any other written agreement between the
Company and Participant. Each such installment that becomes vested and exercisable shall remain
vested and exercisable until it becomes unexercisable under Section 3.4.

     3.4. Expiration of Option. The Option shall terminate and shall not be exercised
after the first to occur of the following events:

          (a) the expiration of ten years from the Grant Date;

          (b) except as otherwise provided in a written agreement between Participant and the Company,
the expiration of three months following the date of Participant’s termination of service as a
Director of the Company by reason of voluntary resignation or removal for cause; or

          (c) except as otherwise provided in a written agreement between Participant and the Company,
the expiration of twelve months following the date of Participant’s termination of service as a
Director of the Company for any reason other than voluntary resignation or removal for cause.

IV. EXERCISE OF OPTION

     4.1. Person Eligible to Exercise. Except as provided in Sections 5.2(b) and 5.2(c),
during Participant’s lifetime, only Participant may exercise the Option or any portion thereof.
After Participant’s death, any exercisable portion of the Option may, prior to the time when the
Option becomes unexercisable under Section 3.4, be exercised by Participant’s personal
representative or by any person empowered to do so under Participant’s will or under the then
applicable laws of descent and distribution.

     4.2. Partial Exercise. Any exercisable portion of the Option or the entire Option, if
then wholly exercisable, may be exercised in whole or in part at any time prior to the time when
the Option or portion thereof becomes unexercisable under Section 3.4.

     4.3. Manner of Exercise. The Option, or any exercisable portion thereof, may be
exercised solely by delivery to the Secretary of the Company (or any third party administrator or
other person or entity designated by the Company) of all of the following prior to the time when
the Option or such portion thereof becomes unexercisable under Section 3.4:

          (a) An exercise notice in a form specified by the Administrator, stating that Participant is
electing to exercise the Option or a portion thereof, such notice complying with all applicable
rules established by the Administrator;

          (b) The receipt by the Company of full payment for the shares of Stock with respect to which
the Option or portion thereof is exercised, including payment of any applicable withholding tax,
which may be in one or more of the forms of consideration permitted under Section 4.4; and

          (c) In the event the Option or portion thereof shall be exercised pursuant to Section 4.1 by
any person or persons other than Participant, appropriate proof of the right of such person or
persons to exercise the Option.

 

 

Notwithstanding the foregoing, the Company shall have the right to specify all conditions of the
manner of exercise, which conditions may vary by country and which may be subject to change from
time to time.

     4.4. Method of Payment. Payment of the exercise price shall be by any of the
following, or a combination thereof, at Participant’s election:

          (a) cash;

          (b) check;

          (c) to the extent permitted under applicable laws, delivery of a notice that Participant has
placed a market sell order with a broker with respect to shares of Stock then issuable upon
exercise of the Option, and that the broker has been directed to pay a sufficient portion of the
net proceeds of the sale to the Company in satisfaction of the aggregate exercise price; provided,
that payment of such proceeds is then made to the Company upon settlement of such sale;

          (d) through the delivery of shares of Stock which have been owned by Participant for at least
six (6) months, duly endorsed for transfer to the Company with a Fair Market Value on the date of
exercise equal to the aggregate exercise price of the Option or exercised portion thereof;

          (e) to the extent permitted by the Administrator, through the delivery of other lawful
consideration; or

          (f) any combination of the foregoing.

     4.5. Conditions to Issuance of Stock Certificates. The shares of Stock deliverable
upon the exercise of the Option, or any portion thereof, may be either previously authorized but
unissued shares or issued shares which have then been reacquired by the Company. Such shares shall
be fully paid and nonassessable. The Company shall not be required to issue or deliver any shares
of Stock purchased upon the exercise of the Option or portion thereof prior to fulfillment of all
of the following conditions:

          (a) The admission of such shares to listing on all stock exchanges on which such Stock is then
listed;

          (b) The completion of any registration or other qualification of such shares under any state
or federal law or under rulings or regulations of the Securities and Exchange Commission or of any
other governmental regulatory body, which the Administrator shall, in its sole and absolute
discretion, deem necessary or advisable;

          (c) The obtaining of any approval or other clearance from any state or federal governmental
agency which the Administrator shall, in its sole and absolute discretion, determine to be
necessary or advisable;

          (d) The receipt by the Company of full payment for such shares, including payment of any
applicable withholding tax, which may be in one or more of the forms of consideration permitted
under Section 4.4; and

          (e) The lapse of such reasonable period of time following the exercise of the Option as the
Administrator may from time to time establish for reasons of administrative convenience.

 

 

     4.6. Rights as Stockholder. The holder of the Option shall not be, nor have any of
the rights or privileges of, a stockholder of the Company in respect of any shares purchasable upon
the exercise of any part of the Option unless and until such shares shall have been issued by the
Company to such holder (as evidenced by the appropriate entry on the books of the Company or of a
duly authorized transfer agent of the Company). No adjustment will be made for a dividend or other
right for which the record date is prior to the date the shares are issued, except as provided in
Section 11.1 of the Plan.

V. OTHER PROVISIONS

     5.1. Administration. The Administrator shall have the power to interpret the Plan and
this Agreement and to adopt such rules for the administration, interpretation and application of
the Plan as are consistent therewith and to interpret, amend or revoke any such rules. All actions
taken and all interpretations and determinations made by the Administrator in good faith shall be
binding, conclusive and final upon Participant, the Company and all other interested persons. No
member of the Administrator shall be personally liable for any action, determination or
interpretation made in good faith with respect to the Plan, this Agreement or the Option.

     5.2. Limited Transferability.

          (a) Subject to Section 5.2(b), the Option may not be sold, pledged, assigned or transferred in
any manner other than by will or the laws of descent and distribution. Neither the Option nor any
interest or right therein or part thereof shall be liable for Participant’s debts, contracts or
engagements or the debts, contracts or engagements of Participant’s successors in interest or shall
be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or
any other means whether such disposition be voluntary or involuntary or by operation of law by
judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including
bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except
to the extent that such disposition is permitted by the preceding sentence.

          (b) Notwithstanding any other provision of this Agreement, with the consent of the
Administrator, the Option may be transferred to one or more “Permitted Transferees” (as defined
below), subject to the following terms and conditions:

          (i) the Option shall not be assignable or transferable by the Permitted Transferee
other than by will or the laws of descent and distribution;

          (ii) the Option shall continue to be subject to all the terms and conditions of the
Plan and this Agreement, as amended from time to time, as applicable to Participant (other
than the ability to further transfer the Option); and

          (iii) Participant and the Permitted Transferee execute any and all documents requested
by the Company, including, without limitation documents to (A) confirm the status of the
transferee as a Permitted Transferee, (B) satisfy any requirements for an exemption for the
transfer under applicable federal and state securities laws, and (C) evidence the transfer.

“Permitted Transferee” means, with respect to Participant, any child, stepchild, grandchild,
parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law,
father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive
relationships, any person sharing Participant’s household (other than a tenant or employee), a
trust in which these persons have more than 50% of the beneficial interest, any other entity in
which these persons (or Participant) own more than 50% of the voting interests, or any other
transferee specifically approved by the Administrator.

 

 

          (c) Unless transferred to a Permitted Transferee in accordance with Section 5.2(b), during the
lifetime of Participant, only Participant may exercise the Option or any portion thereof. Subject
to such conditions and procedures as the Administrator may require, a Permitted Transferee may
exercise the Option or any portion thereof during Participant’s lifetime. After the death of
Participant, any exercisable portion of the Option may, prior to the time when the Option becomes
unexercisable under Section 3.4, be exercised by Participant’s personal representative or by any
person empowered to do so under the deceased Participant’s will or under the then applicable laws
of descent and distribution.

     5.3. No Right to Continue in Service. Nothing in the Plan or this Agreement shall
confer upon Participant any right to continue in service as a member of the Board of Directors of
the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the
Company and its stockholders (or of a Subsidiary or its stockholders, as the case may be), which
rights are hereby expressly reserved, to discharge or terminate Participant’s services at any time
for any reason whatsoever, with or without cause.

     5.4. Shares to Be Reserved. The Company shall at all times during the term of the
Option reserve and keep available such number of shares of Stock as will be sufficient to satisfy
the requirements of this Agreement.

     5.5. Notices. All notices or other communications required or permitted hereunder
shall be in writing, and shall be deemed duly given only when delivered in person or when sent by
certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or
branch post office regularly maintained by the United States Postal Service, addressed as follows:

	 	 	 	 	 
	 

	 	If to the Company:
	 	Allergan, Inc.
	 

	 	 	 	Attention: General Counsel
	 

	 	 	 	2525 Dupont Drive
	 

	 	 	 	Irvine, California 92612
	 
	 	 	 	 
	 

	 	If to Participant:
	 	To Participant’s most recent
address then on file in the Company’s personnel records.

By a notice given pursuant to this Section 5.5, either party may thereafter designate a different
address for notices to be given to that party. Any notice which is required to be given to
Participant shall, if Participant is then deceased, be given to the person entitled to exercise the
Option pursuant to Section 4.1 by written notice under this Section 5.5.

     5.6. Titles. Titles are provided herein for convenience only and are not to serve as
a basis for interpretation or construction of this Agreement.

     5.7. Governing Law; Severability. This Agreement shall be administered, interpreted
and enforced under the laws of the State of Delaware, without regard to conflicts of law principles
thereof. Should any provision of this Agreement be determined by a court of law to be illegal or
unenforceable, the other provisions shall nevertheless remain effective and shall remain
enforceable.

     5.8. Conformity to Securities Laws. Participant acknowledges that the Plan is
intended to conform to the extent necessary with all provisions of the Securities Act and the
Exchange Act and any and all regulations and rules promulgated by the Securities and Exchange
Commission thereunder, and state and foreign securities laws and regulations. Notwithstanding
anything herein to the contrary, the Plan shall be administered, and the Option is granted and may
be exercised, only in such a manner as to conform to such laws, rules and regulations. To the
extent permitted by applicable law, the Plan and this
Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and
regulations.

 

 

     5.9. Amendments. To the extent permitted by the Plan, this Agreement may be wholly or
partially amended or otherwise modified, suspended or terminated at any time or from time to time
by the Administrator; provided, that, except as may otherwise be provided by the Plan, no
termination, amendment, or modification of this Agreement shall adversely affect the Option in any
material way without Participant’s prior written consent. This Agreement may not be modified,
suspended or terminated except by an instrument in writing signed by a duly authorized
representative of the Company and, if Participant’s consent is required, by Participant or such
other person as may be permitted to exercise the Option pursuant to Section 4.1.

     5.10. Successors and Assigns. The Company may assign any of its rights with respect
to the Option to single or multiple assignees, and this Agreement shall inure to the benefit of the
successors and assigns of the Company. Subject to the restrictions on transfer set forth in
Section 5.2, this Agreement shall be binding upon Participant and Participant’s heirs, executors,
administrators, successors and assigns.

     5.11. Section 16. Notwithstanding any other provision of the Plan or this Agreement,
the Option and this Agreement shall be subject to any additional limitations set forth in any
applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule
16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To
the extent permitted by applicable law, this Agreement shall be deemed amended to the extent
necessary to conform to such applicable exemptive rule.

     5.12. Entire Agreement. The Plan and this Agreement constitute the entire agreement
of the parties and supersede in their entirety all prior undertakings and agreements of the Company
and Participant with respect to the subject matter hereof.

 

 

EXHIBIT B TO THE NON-QUALIFIED STOCK OPTION GRANT NOTICE

ALLERGAN, INC. 2008 INCENTIVE AWARD PLAN

 

 

EXHIBIT C TO THE NON-QUALIFIED STOCK OPTION GRANT NOTICE

ALLERGAN, INC. 2008 INCENTIVE AWARD PLAN PROSPECTUS

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