Document:

Exhibit 10.3

 

ABBOTT LABORATORIES

NON-EMPLOYEE DIRECTOR RESTRICTED STOCK UNIT
AGREEMENT

 

This
Restricted Stock Unit Agreement (the “Agreement”), made on «DateAwded» (the “Grant Date”), between Abbott Laboratories, an
Illinois corporation (the “Company”), and «Name»
(the “Director”), provides for the grant by the Company to the Director of a
Restricted Stock Unit Award (the “Award”) under the Company’s 2009 Incentive
Stock Program (the “Program”).  This Agreement incorporates and is
subject to the provisions of the Program. 
To the extent not defined herein, capitalized terms shall have the same
meaning as in the Program, and in the event of any inconsistency between the
provisions of this Agreement and the provisions of the Program, the Program
shall control.

 

The
terms and conditions of the Award are as follows:

 

1.                      Grant
of Units.  Pursuant to Section 12 of
the Program, the Company has granted to the Director the right to receive «NoShares12345» Shares (the “Restricted Stock Units”
or “Units” as used herein) upon the Termination Event (as defined in Section 4
below).  The Shares shall be issued from
the Company’s available treasury shares. 
Prior to the Termination Event, (a) the Director shall not be
treated as a shareholder as to those Shares, and shall only have a contractual
right to receive them, unsecured by any assets of the Company or its
Subsidiaries; (b) the Director shall not be permitted to vote the Units;
and (c) the Director’s right to receive such Shares will be subject to the
adjustment provisions relating to mergers, reorganizations, and similar events
set forth in the Program.  The Units
shall be subject to all of the restrictions hereinafter set forth.

 

2.                      Rights
to Dividends.  The Director shall be
entitled to receive cash payments equal to the dividends and distributions paid
on Shares underlying the Restricted Stock Units (“Dividend Equivalents”) (other
than dividends or distributions of securities of the Company which may be
issued with respect to its Shares by virtue of any stock split, combination,
stock dividend or recapitalization) to the same extent as if each Unit was a
Share, and those Shares were not subject to the restrictions imposed by this
Agreement and the Program, provided that the record date with respect to such
dividend or distribution occurs within the period commencing with the Grant
Date and ending upon the date of the Termination Event (the “Restricted Period”).

 

3.                      Restrictions.  The Units shall be fully vested as of the
Grant Date, provided, however, that the Units will be subject to the following
restrictions (the “Restrictions”) during the Restricted Period:

 

(a)                 The Units may not
be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of.

 

(b)                Any additional
Shares or other securities or property issued with respect to Shares covered by
the Units as a result of any stock split, 

 

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combination, stock dividend or
recapitalization, shall be subject to the Restrictions and other provisions of
the Program and this Agreement.

 

(c)                 The Director
shall not be entitled to receive any Shares prior to completion of all actions
deemed appropriate by the Company to comply with federal or state securities
laws and stock exchange requirements.

 

4.                      Termination
Event.  The Restrictions shall lapse and
have no further force or effect upon the earliest of the following events (the “Termination
Event”):

 

(a)               The date the Director terminates
from the Board of Directors of the Company, including due to retirement;

 

(b)              The date the Director dies; or

 

(c)               The date of occurrence of a Change
in Control (as defined in the Program); provided that the event constituting a
Change in Control is also a “change in control event”, as such term is defined
in Treasury Regulation § 1.409A-3(i)(5).

 

5.                      Withholding
Taxes.  The lapse of the Restrictions on
the Units pursuant to Section 4 above and the delivery of the Shares shall
be conditioned on the Director or the Director’s executor, administrator,
personal representative or heirs (“Representative”) having made appropriate
arrangements with the Company to provide for the withholding of any taxes as
may be required to be withheld by federal, state or local law with respect to
such lapse or delivery.

 

6.                      Section 409A.  To the extent applicable, it is intended that
this Agreement comply with, or be exempt from, the provisions of Section 409A
of the Internal Revenue Code of 1986, as amended (the “Code”).  The Agreement will be administered and
interpreted in a manner consistent with this intent, and any provision that
would cause the Agreement to fail to satisfy Code Section 409A will have
no force and effect until amended to comply therewith (which amendment may be
retroactive to the extent permitted by Code Section 409A).  Notwithstanding anything contained herein to
the contrary, for all purposes of this Agreement, the Director shall not be
deemed to have had a termination of service unless the Director has incurred a
separation from service as defined in Treasury Regulation §1.409A-1(h) and,
to the extent required to avoid accelerated taxation and/or tax penalties under
Code Section 409A and applicable guidance issued thereunder, amounts that
would otherwise be payable pursuant to the Agreement  during
the six-month period immediately following the Director’s termination of
service (including retirement) shall instead be paid on the first business
day after the date that is six months following the Director’s termination of
service (or upon the Director’s death, if earlier).

 

7.                      Payment
of Dividend Equivalents.  For purposes of
compliance with the requirements of Code Section 409A, the specified date
of paying any 

 

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Dividend Equivalents to which a Director is
entitled under Section 1 is the year in which the associated dividends or
distributions are paid on the underlying Shares.  This Section 7 shall not create or
expand any rights to Dividend Equivalents.

 

8.                      Data
Privacy.  This grant of Units shall be
interpreted to effect the original intent of the Company as closely as possible
to the fullest extent permitted by applicable law (including, without
limitation, any laws governing data privacy). 
If any condition or provision of this option is invalid, illegal, or
incapable of being enforced under any applicable law or regulation governing
data privacy, including the privacy laws and regulations of the European
Economic Area, all other conditions and provisions of the Units shall
nevertheless remain in full force and effect. 
By accepting this grant, the Director voluntarily and unambiguously
acknowledges and consents to the collection, use, processing and transfer of
Personal Data (defined below) as described in this paragraph, in electronic or
other form.  The Director is not obliged
to consent to such collection, use, processing and transfer of Personal
Data.  However, failure to provide the
consent may affect the Director’s ability to participate in the Program.  The Director understands that the Company and
its Subsidiaries hold certain personal information about the Director,
including, but not limited to, the Director’s name, home address and telephone
number, date of birth, social security number or other Director identification
number, salary, nationality, job title, the number of Shares (if any) owned by
the Director, whether the Director is a member of the Board of Directors of the
Company or of any of its Subsidiaries, details of all stock options or any
other entitlement to Shares awarded, canceled, purchased, vested, unvested or
outstanding in the Director’s favor for the purpose of managing and
administering the Program or this grant (collectively “Personal Data”).  The Director understands that the Company and
its Subsidiaries will transfer Personal Data amongst themselves as necessary for
the purpose of implementation, administration and management of the Director’s
participation in the Program, and the Company and/or any of its Subsidiaries
may each further transfer Personal Data to any third parties assisting the
Company in the implementation, administration and management of the Program,
including UBS or such other stock plan service provider as may be selected by
the Company in the future.  These
recipients may be located in the European Economic Area, or elsewhere
throughout the world, such as the United States and the recipients’ country
(e.g., the United States) may have different data privacy laws and protections
than the Director’s country.  The
Director understands that the Director may request a list with the names and
addresses of any potential recipients of the Personal Data by contacting the Secretary
of the Company.  The Director hereby
authorizes the Company and its Subsidiaries to receive, possess, use, retain
and transfer the Personal Data, in electronic or other form, for the purposes
of implementing, administering and managing the Director’s participation in the
Program, including any transfer of such Personal Data as may be required for
the administration of the Program and/or the subsequent holding of Shares on
the Director’s behalf to a broker or other third party with whom the Director
may elect to deposit any Shares acquired pursuant to the Program.  The Director understands that Personal Data
will be held only as long as is 

 

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necessary to implement, administer and manage
the Director’s participation in the Program. 
The Director may, at any time, review Personal Data, request additional
information about the storage and processing of Personal Data, and require any
necessary amendments to it.  The Director
may, at any time, withdraw the consents herein, in any case without cost, in
writing by contacting the Company; however, withdrawing the Director’s consent
may affect the Director’s ability to participate in the Program.

 

9.                      Succession.  This Agreement shall be binding upon and
operate for the benefit of the Company and its successors and assigns, and the
Director and the Director’s Representative.

 

10.                Severability.  The invalidity or unenforceability of any
provision of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement, and each other provision of the
Agreement shall be severable and enforceable to the extent permitted by
law.  To the extent a court or tribunal
of competent jurisdiction determines that any provision of this Agreement is
invalid or unenforceable, in whole or in part, the Company, in its sole
discretion, shall have the power and authority to revise or strike such
provision to the minimum extent necessary to make it valid and enforceable to
the full extent permitted under local law.

 

11.                Governing Law.  This Agreement shall be governed by and
construed in accordance with the laws of the State of Illinois without giving
effect to the conflict of laws principles thereof.

 

IN WITNESS WHEREOF, the Company has caused
this Agreement to be executed by its duly authorized officer as of the grant
date above set forth.

 

 

	
   

  	
   

  	
  ABBOTT LABORATORIES

  
	
   

  	
   

  	
   

  
	
   

  	
  By 

  	
  

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Miles D. White

  
	
   

  	
   

  	
  Chairman and Chief Executive Officer

  

 

4Exhibit 10.4

 

ABBOTT
LABORATORIES

NON-EMPLOYEE DIRECTOR NON-QUALIFIED REPLACEMENT STOCK OPTION AGREEMENT

 

Abbott Laboratories (the “Company”)
hereby grants to «First_Name» «MI» «Last_Name»,
a Non-Employee Director of the Company (the “Director”), a Non-Qualified Replacement Stock Option (the “Option”)
to purchase from time to time all or any part of a total of «NQSOs»  Shares subject to this Option, at the
price of $«Option_Price»
per Share, such price being not less than 100% of the Fair Market Value of
the Shares on the date hereof (the “Exercise Price”), under the terms and
conditions set forth in this Non-Qualified Replacement Stock Option Agreement
(the “Agreement”), and is granted with respect to an Option (the “Original Option”), the original term of which was set to expire on «Expiration_Date»  (the “Expiration Date”).

 

This Option is granted this «Grant_Day»  day of «Grant_Month»,
20    , under the Company’s 2009 Incentive Stock
Program (the “Program”).  This
Agreement incorporates and is subject to the provisions of the Program.  To the extent not defined herein, capitalized
terms shall have the same meaning as in the Program, and in the event of any
inconsistency between the provisions of this Agreement and the provisions of
the Program, the Program shall control.

 

The terms and conditions of the Option are as follows:

 

1.                     This Option may, but need not, be exercised
in installments, but only within the time periods and subject to the conditions
described below.  This Option may be
exercised only after six months have elapsed from the date of its grant.  In no event shall this Option be exercisable
on or after the date on which the Original Option would have terminated or at
any other time when the Original Option would not have been exercisable.

 

2.                     In the event of death of the holder of the
Option, this Option may be exercised within the term of the Option and only by
the executor or administrator of the estate of the holder of the Option or the
person or persons to whom rights under the Option have passed by will or the
laws of descent and distribution, subject to Section 3 below.

 

3.                     This Option is not transferable otherwise
than (i) by will or the laws of descent and distribution or (ii) by
the Director as a gift to the Director’s spouse, child or grandchild (the
Director’s “Immediate Family”) or to a family trust, a family partnership, a
family limited liability company, or a similar arrangement for the benefit of
members of the Director’s Immediate Family. 
It may not be assigned, transferred (except as aforesaid), pledged or
hypothecated in any way, whether by operation of law or otherwise, and shall
not be subject to execution, attachment or similar process.  Any attempt at assignment, transfer, pledge,
hypothecation, or other disposition of this Option contrary to the provisions
hereof, and the levy of any attachment or similar process upon this Option,
shall be null and void and without effect.

 

1

 

4.                     This Option may be exercised only by
delivering to the Secretary or other designated employee of the Company a
written notice of exercise, specifying the number of Shares with respect to
which the Option is then being exercised, and accompanied by payment of the
Exercise Price of the Shares being purchased in cash, or by the surrender of
other Shares of the Company having a then fair market value equal to the
Exercise Price, or, by the delivery of a properly executed exercise notice
together with a copy of irrevocable instructions to a broker to deliver promptly
to the Company the amount of sale or loan proceeds to pay the Exercise Price,
or a combination thereof, plus payment in cash or, by withholding or delivery
of Shares, of the full amount of any taxes which are to be withheld and paid
with respect to such exercise, and in the event the Option is being exercised
by a person or persons other than the Director, such appropriate tax
clearances, proof of the right of such person or persons to exercise the
Option, and other pertinent data as the Company may deem necessary.

 

5.                     The Company shall not be required to issue or
deliver any Shares purchased upon any exercise pending compliance with all
applicable federal and state securities and other laws (including any
registration requirements) and compliance with the rules and practices of
any stock exchange upon which the Company’s Shares are listed.

 

6.                     The Director may satisfy any federal,
state, local or foreign taxes arising from any transaction related to the
exercise of the Option by (i) tendering a cash payment, (ii) having
the Company withhold Shares from the Option exercised to satisfy the minimum
applicable withholding tax, (iii) tendering Shares received in connection
with the Option back to the Company, or (iv) delivering other previously
acquired Shares having a Fair Market Value approximately equal to the amount to
be withheld.  The Company shall have the
right and is hereby authorized to withhold from the Shares transferable to the
Director upon any exercise of the Option or from any other compensation or
other amount owing to the Director such amount as may be necessary in the
opinion of the Company to satisfy all such taxes, requirements and withholding
obligations.  If the Company withholds
from the Shares for tax purposes, the Director is deemed to have been issued
the full number of Shares subject to the Option, notwithstanding that a number
of the Shares are held back solely for the purpose of satisfying any such
taxes, requirements and withholding obligations.

 

7.                     The Option is intended to be exempt
from the requirements of Code Section 409A.  The Program and this Agreement shall be
administered and interpreted in a manner consistent with this intent.  If the Company determines that this Agreement
is subject to Code Section 409A and fails to comply with that section’s
requirements, the Company may, at the Company’s sole discretion, and without
the Director’s consent, amend the Agreement to cause it to comply with Code Section 409A
or be exempt from Code Section 409A.

 

8.                     In the event there is a change in the number
of issued Shares without new consideration to the Company (such as by stock
dividends or stock split-ups), then (i) the number of Shares at the time
unexercised under this

 

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Option shall be changed in proportion to such change in issued Shares;
and (ii) the Exercise Price for the unexercised portion of the Option
shall be adjusted so that the aggregate consideration payable to the Company
upon the purchase of all Shares not theretofore purchased shall not be changed.

 

If the outstanding Shares shall be combined, or be changed into another
kind of stock of the Company or into securities of another corporation, whether
through recapitalization, reorganization, sale, merger, consolidation, etc.,
the Company shall cause adequate provision to be made whereby the person or
persons entitled to exercise this Option shall thereafter be entitled to
receive, upon due exercise of any portion of the Option, the securities which
that person would have been entitled to receive for Shares acquired through
exercise of the same portion of such Option immediately prior to the effective
date of such recapitalization, reorganization, sale, merger, consolidation,
spin-off, etc.  If appropriate, due
adjustment shall be made in the per share or per unit price of the securities
purchased on exercise of this Option following said recapitalization,
reorganization, sale, merger, consolidation, spin-off, etc.

 

9.                     In
the event the purchase price of the Shares covered by this Option or any taxes
due on its exercise are paid by the surrender of other Shares or, for payment
of withholding taxes, by withholding of Shares, the Director will be granted an
Option (the “Replacement Option”) to purchase a number of
Shares equal to the number of Shares surrendered and/or withheld, provided the
then fair market value of the Shares covered by this Option is at least
twenty-five percent (25%) higher than such purchase price.  The purchase price under the Replacement
Option will be the fair market value of the Shares covered by the Replacement
Option as of the grant date of the Replacement Option.  The Replacement Option will be a
non-qualified stock option, first exercisable six (6) months from the
Replacement Option grant date, with a term equal to the remainder of the term
of the Original Option.  An additional
Replacement Option will not be granted upon the exercise of a previously issued
Replacement Option if that previously granted Replacement Option is exercised
in the same calendar year that it was granted.

 

10.               For
purposes of this Agreement, “Personal Data” shall mean certain personal
information about the Director held by the Company and its Subsidiaries,
including, but not limited to, the Director’s name, home address and telephone
number, date of birth, Social Security Number or other Director Identification
Number, salary, nationality, job title, the number of Shares (if any) owned by
the Director, whether the Director is a member of the Board of Directors of the
Company or of any of its Subsidiaries, details of all stock options or any
other entitlement to Shares awarded, canceled, purchased, vested, unvested or
outstanding in the Director’s favor for the purpose of managing and
administering the Program or this Option. 
The Option granted hereunder shall be interpreted to effect the original
intent of the Company as closely as possible to the fullest extent permitted by
applicable law (including, without limitation, any laws governing data
privacy).  If any condition or provision
of this Agreement is invalid, illegal, or incapable of being enforced under any
applicable law or regulation

 

3

 

governing data
privacy, including the privacy laws and regulations of the European Economic Area,
all other conditions and provisions of this Agreement shall nevertheless remain
in full force and effect.

 

By accepting the
Option, the Director voluntarily and unambiguously acknowledges and consents to
the collection, use, processing and transfer of Personal Data as described in
this Section, in electronic or other form. 
The Director is not obligated to consent to such collection, use,
processing and transfer of Personal Data. 
However, failure to provide the consent may affect the Director’s ability
to participate in the Program.  The
Director understands that the Company and its Subsidiaries will transfer
Personal Data amongst themselves as necessary for the purpose of
implementation, administration and management of the Director’s participation
in the Program, and the Company and/or any of its Subsidiaries may each further
transfer Personal Data to any third parties assisting the Company in the
implementation, administration and management of the Program, including UBS or
such other stock plan service provider as may be selected by the Company in the
future.  These recipients may be located
in the European Economic Area, or elsewhere throughout the world, such as the
United States and the recipients’ country (e.g., the United States) may have
different privacy laws and protections than the Director’s country.  The Director understands that the Director
may request a list with the names and addresses of any potential recipients of
Personal Data by contacting Secretary of the Company. The Director hereby
authorizes the Company and its Subsidiaries to receive, possess, use, retain
and transfer the Personal Data, in electronic or other form, for the purposes
of implementing, administering and managing the Director’s participation in the
Program, including any transfer of such Personal Data as may be required for
the administration of the Program and/or the subsequent holding of Shares on
the Director’s behalf to a broker or other third party with whom the Director
may elect to deposit any Shares acquired pursuant to the Program.  The Director understands that Personal Data
may be held only as long as is necessary to implement, administer and manage
the Director’s participation in the Program. 
The Director may, at any time, review Personal Data, request additional
information about the storage and processing of Personal Data, and require any
necessary amendments to such data.  The
Director may, at any time, withdraw the consents herein in writing, in any case
without cost, by contacting the Company; however, withdrawing such consent may
affect such Director’s ability to participate in the Program.

 

11.               This Agreement
shall be binding upon and operate for the benefit of the Company and its
successors and assigns, and the Director and the Director’s Representative.

 

12.               The invalidity or
unenforceability of any provision of this Agreement shall not affect the
validity or enforceability of any other provision of this Agreement, and each
other provision of the Agreement shall be severable and enforceable to the extent
permitted by law.  To the extent a court
or tribunal of competent jurisdiction determines that any provision of this
Agreement is invalid or unenforceable, in whole or in part, the Company, in its
sole discretion, shall have the power and authority to revise or strike such

 

4

 

provision to the
minimum extent necessary to make it valid and enforceable to the full extent
permitted under local law.

 

13.               This Agreement
shall be governed by and construed in accordance with the laws of the State of
Illinois without giving effect to the conflict of laws principles thereof.

 

IN WITNESS
WHEREOF, the Company has caused this Agreement to be executed by its duly
authorized officer as of the grant date above set forth.

 

 

	
   

  	
   

  	
  ABBOTT LABORATORIES

  
	
   

  	
   

  	
   

  
	
   

  	
  By 

  	
  

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Miles D. White

  
	
   

  	
   

  	
  Chairman and Chief Executive Officer

  

 

5

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