Document:

ex108directorrsuagreemen

Exhibit 10.8  2-10-2022             SEAGEN INC.  STOCK UNIT GRANT NOTICE  (AMENDED AND RESTATED 2007 EQUITY INCENTIVE PLAN)  Seagen Inc. (the “Company”), pursuant to its Amended and Restated 2007 Equity Incentive Plan (the “Plan”), hereby  awards to Participant a Stock Unit Award for the number of stock units set forth below (the “Award”).  The Award is  subject to all of the terms and conditions as set forth herein and in the Plan and the Stock Unit Agreement, both of  which are incorporated herein in their entirety.  Capitalized terms not otherwise defined herein shall have the meanings  set forth in the Plan or the Stock Unit Agreement, as applicable. Except as otherwise explicitly provided herein, in the  event of any conflict between the terms in the Award and the Plan, the terms of the Plan shall control.  Participant:    Date of Grant:    Number of Stock Units Subject to Award:    Consideration: Participant’s Services    Vesting Schedule:  Subject to Section 2 of the Stock Unit Agreement, [this Award shall vest in full on the  first anniversary of the Date of Grant] [one-quarter of the shares subject to the Award  will vest each year on the anniversary of the Date of Grant until the Award is fully  vested on the fourth anniversary of the Date of Grant].  Notwithstanding the foregoing,  vesting shall terminate upon the Participant’s Termination of Employment.      Issuance Schedule: The Shares to be issued in respect of the Award will be issued in accordance with the  issuance schedule set forth in Section 6 of the Stock Unit Agreement.  

 

Exhibit 10.8  2-10-2022             Additional Terms/Acknowledgements:  Participant acknowledges receipt of, and understands and agrees to, this  Stock Unit Grant Notice, the Stock Unit Agreement and the Plan. Participant also acknowledges receipt of the  Prospectus for the Plan.  Participant further acknowledges that as of the Date of Grant, this Stock Unit Grant Notice,  the Stock Unit Agreement and the Plan set forth the entire understanding between Participant and the Company  regarding the Award and supersede all prior oral and written agreements on that subject, with the exception of any  arrangement that would provide for vesting acceleration of the Award upon the terms and conditions set forth therein.   SEAGEN INC. PARTICIPANT:  By:        (Signature)  Name: Clay B. Siegall, Ph.D.       Title: President & CEO      Date:  Date:   

 

     1.     2-10-2022       SEAGEN INC.  AMENDED AND RESTATED 2007 EQUITY INCENTIVE PLAN  STOCK UNIT AGREEMENT  Pursuant to the Stock Unit Grant Notice (“Grant Notice”) and this Stock Unit Agreement  (this “Agreement”) and in consideration of your services, Seagen Inc. (the “Company”) has  awarded you a Stock Unit Award (the “Award”) under its Amended and Restated 2007 Equity  Incentive Plan (the “Plan”). Your Award is granted to you effective as of the Date of Grant set  forth in the Grant Notice for this Award.  This Agreement shall be deemed to be agreed to by the  Company and you upon the signing by you of the Stock Unit Grant Notice to which it is attached.   Capitalized terms not explicitly defined in this Agreement shall have the same meanings given to  them in the Plan or the Grant Notice, as applicable.  Except as otherwise explicitly provided herein,  in the event of any conflict between the terms in this Agreement and the Plan, the terms of the Plan  shall control.  The details of your Award, in addition to those set forth in the Grant Notice and the  Plan, are as follows.  1. GRANT OF THE AWARD.    This Award represents the right to be issued on a future  date the number of Shares that is equal to the number of stock units indicated in the Grant Notice  (the “Stock Units”).  As of the Date of Grant, the Company will credit to a bookkeeping account  maintained by the Company for your benefit (the “Account”) the number of Stock Units subject  to the Award.  This Award is granted in consideration of your services to the Company.  Except  as otherwise provided herein, you will not be required to make any payment to the Company (other  than past and future services to the Company) with respect to your receipt of the Award, the vesting  of the Stock Units or the delivery of the Shares to be issued in respect of the Award.   2. VESTING.    Subject to the limitations contained herein, your Award will vest, if at  all, in accordance with the vesting schedule provided in the Grant Notice, provided that you have  not incurred a Termination of Employment before the vesting date set forth in the Grant Notice.   Upon your Termination of Employment, the Stock Units credited to the Account that are not vested  on the date of such Termination of Employment will be forfeited at no cost to the Company and  you will have no further right, title or interest in the Stock Units or the Shares to be issued in  respect of the Award.  Notwithstanding the foregoing or anything in this Agreement to the contrary, in the event  of your Termination of Employment as a result of your death or Disability, the vesting of your  Award shall accelerate such that your Award shall become vested as to an additional twelve (12)  months, effective as of the date of such Termination of Employment, to the extent that your Award  is outstanding on such date.   In the event of a Change in Control (as defined in the Plan), the vesting of your Award (if  your Award is outstanding at such time) shall be accelerated in full immediately prior to the  effective time of the Change in Control.    

 

     2.     2-10-2022       3. NUMBER OF SHARES.   (a)  The number of Stock Units subject to your Award may be adjusted from  time to time for changes in capitalization, as provided in Section 13 of the Plan.  (b) Any additional Stock Units that become subject to the Award pursuant to  this Section 3 shall be subject, in a manner determined by the Administrator, to the same forfeiture  restrictions, restrictions on transferability, and time and manner of delivery as applicable to the  other Stock Units covered by your Award.  (c) Notwithstanding the provisions of this Section 3, no fractional Shares or  rights for fractional Shares shall be created pursuant to this Section 3.  The Administrator shall, in  its discretion, determine an equivalent benefit for any fractional Shares or fractional Shares that  might be created by the adjustments referred to in this Section 3.  4. SECURITIES LAW COMPLIANCE.  You may not be issued any Shares in respect of  your Award unless either (i) such Shares are registered under the Securities Act; or (ii) the  Company has determined that such issuance would be exempt from the registration requirements  of the Securities Act. Your Award also must comply with other applicable laws and regulations  governing the Award, and you will not receive such Shares if the Company determines that such  receipt would not be in material compliance with such laws and regulations. You represent and  warrant that you (a) have been furnished with a copy of the prospectus for the Plan and all  information deemed necessary to evaluate the merits and risks of receipt of the Award, (b) have  had the opportunity to ask questions concerning the information received about the Award and the  Company, and (c) have been given the opportunity to obtain any information you deem necessary  to verify the accuracy of any information obtained concerning the Award and the Company.  5. TRANSFER RESTRICTIONS.  Your Award is not transferable, except by will or by  the laws of descent and distribution.  In addition to any other limitation on transfer created by  applicable securities laws, you agree not to assign, hypothecate, donate, encumber or otherwise  dispose of any interest in any of the Shares subject to the Award until such Shares are issued to  you in accordance with Section 6 of this Agreement.  After such Shares have been issued to you,  you are free to assign, hypothecate, donate, encumber or otherwise dispose of any interest in such  Shares provided that any such actions are in compliance with the provisions herein and applicable  securities laws.  Notwithstanding the foregoing, by delivering written notice to the Company, in a  form satisfactory to the Company, you may designate a third party who, in the event of your death,  shall thereafter be entitled to receive any distribution of Shares to which you were entitled at the  time of your death pursuant to this Agreement.  6. DATE OF ISSUANCE.    (a) If the Award is exempt from application of Section 409A of the Code and  any state law of similar effect (collectively “Section 409A”), the Company will deliver to you a  number of Shares equal to the number of vested Stock Units subject to your Award, including any  additional Stock Units received pursuant to Section 3 above that relate to those vested Stock Units  

 

     3.     2-10-2022       on the applicable vesting date (the “Original Issuance Date”).  However, if the Original Issuance  Date falls on a date that is not a business day, such delivery date shall instead fall on the next  following business day.  Notwithstanding the foregoing, if (i) the Original Issuance Date does not  occur (1) during an “open window period” applicable to you, as determined by the Company in  accordance with the Company’s then-effective policy or policies on trading in Company securities  or (2) on a date when you are otherwise permitted to sell Shares on the open market; and (ii) the  Company elects, prior to the Original Issuance Date, (x) not to satisfy the Withholding Obligation  (as defined in Section 10(a) hereof), if any, by withholding Shares from the Shares otherwise due,  on the Original Issuance Date, to you under this Award pursuant to Section 10 hereof, (y) not to  permit you to sell Shares pursuant to a written plan that meets the requirements of Rule 10b5-1  under the Exchange Act, and (z) not to permit you to satisfy the Withholding Obligation in cash,  then such Shares shall not be delivered on such Original Issuance Date and shall instead be  delivered on the first business day of the next occurring open window period applicable to you or  the next business day when you are not prohibited from selling Shares on the open market, as  applicable (and regardless of whether there has been a Termination of Employment before such  time), but in no event later than the 15th day of the third calendar month of the calendar year  following the calendar year in which the Stock Units vest.  Delivery of the Shares pursuant to the  provisions of this Section 6(a) is intended to comply with the requirements for the short-term  deferral exemption available under Treasury Regulations Section 1.409A-1(b)(4) and shall be  construed and administered in such manner.  The form of such delivery of the Shares (e.g., a stock  certificate or electronic entry evidencing such Shares) shall be determined by the Company.  (b) The provisions of this Section 6(b) are intended to apply if the Award is  subject to Section 409A because of the terms of a severance arrangement or other agreement  between you and the Company, if any, that provide for acceleration of vesting of the Award upon  your separation from service (as such term is defined in Section 409A(a)(2)(A)(i) of the Code  (“Separation from Service”) and such severance benefit does not satisfy the requirements for an  exemption from application of Section 409A provided under Treasury Regulations Section  1.409A-1(b)(4) or 1.409A-1(b)(9) (“Non-Exempt Severance Arrangement”).  If the Award is  subject to and not exempt from application of Section 409A due to application of a Non-Exempt  Severance Arrangement, the following provisions in this Section 6(b) shall supersede anything to  the contrary in Section 6(a).    (i) If the Award vests in the ordinary course before your Termination  of Employment in accordance with the vesting schedule set forth in the Grant Notice, without  accelerating vesting under the terms of a Non-Exempt Severance Arrangement, in no event will  the Shares to be issued in respect of your Award be issued any later than December 31st of the  calendar year that includes the applicable vesting date.    (ii) If vesting of the Award accelerates under the terms of a Non-Exempt  Severance Arrangement in connection with your Separation from Service, and such vesting  acceleration provisions  were in effect as of the date of grant of the Award and, therefore, are part  of the terms of the Award as of the date of grant, then the Shares will be earlier issued in respect  of your Award upon your Separation from Service in accordance with the terms of the Non-Exempt  

 

     4.     2-10-2022       Severance Arrangement, but in no event later than the 60th day that follows the date of your  Separation from Service.  However, if at the time the Shares would otherwise be issued you are  subject to the distribution limitations contained in Section 409A applicable to “specified  employees,” as defined in Section 409A(a)(2)(B)(i) of the Code, such Shares shall instead be  issued on the date that is six months following the date of your Separation from Service, or, if  earlier, the date of your death that occurs within such six-month period.  (iii) If  either (A) vesting of the Award accelerates under the terms of a  Non-Exempt Severance Arrangement in connection with your Separation from Service, and such  vesting acceleration provisions were not in effect as of the date of grant of the Award and,  therefore, are not a part of the terms of the Award on the date of grant, or (B) vesting accelerates  pursuant to Section 4(b) or Section 13 of the Plan, then such acceleration of vesting of the Award  shall not accelerate the issuance date of the Shares (or any substitute property), but such Shares  (or substitute property) shall instead be issued on the same schedule as set forth in the Grant Notice  as if they had vested in the ordinary course before your Termination of Employment,  notwithstanding the vesting acceleration of the Award.  Such issuance schedule is intended to  satisfy the requirements of payment on a specified date or pursuant to a fixed schedule, as provided  under Treasury Regulations Section 1.409A-3(a)(4).  (c) Notwithstanding anything to the contrary set forth herein, the Company  explicitly reserves the right to earlier issue the Shares in respect of the Award to the extent  permitted and in compliance with the requirements of Section 409A, including pursuant to any of  the exemptions available in Treasury Regulations Section 1.409A-3(j)(4)(ix).  (d) The provisions in this Agreement for delivery of the Shares in respect of the  Award are intended either to comply with the requirements of Section 409A or to provide a basis  for exemption from such requirements so that the vesting or delivery of such Shares will not trigger  the additional tax imposed under Section 409A, and any ambiguities herein will be so interpreted.  (e) The Administrator may modify the terms of this Agreement and/or the Plan  without your consent, in the manner that the Administrator may determine to be necessary or  advisable in order to comply with Code Section 409A or to mitigate any additional tax, interest  and/or penalties or other adverse tax consequences that may apply under Code Section 409A if  compliance is not practical. This Section 6(e) does not create an obligation on the part of the  Company to modify the terms of this Agreement or the Plan and does not guarantee that this Award  or the delivery of Shares upon settlement of the Award will not be subject to taxes, interest and  penalties or any other adverse tax consequences under Code Section 409A. Nothing in this  Agreement shall provide a basis for any person to take any action against the Company based on  matters covered by Code Section 409A, including the tax treatment of any amounts paid under this  Agreement, and the Company will not have any liability under any circumstances to the Participant  or any other party if the Award, the delivery of Shares upon vesting/settlement of the Award or  other payment or tax event hereunder that is intended to be exempt from, or compliant with, Code  Section 409A, is not so exempt or compliant or for any action taken by the Administrator with  respect thereto.  

 

     5.     2-10-2022       7. DIVIDENDS.   You shall receive no benefit or adjustment to your Award with respect  to any cash dividend, stock dividend or other distribution that does not result from a change in  capitalization as provided in Section 13 of the Plan; provided, however, that this sentence shall not  apply with respect to any Shares that are delivered to you in connection with your Award after  such Shares have been delivered to you.  8. [RESERVED].  9. AWARD NOT A SERVICE CONTRACT.    (a) Your service with the Company or an Affiliate is not for any specified term  and may be terminated by you or by the Company or an Affiliate at any time, for any reason, with  or without cause and with or without notice.  Nothing in this Agreement (including, but not limited  to, the vesting of your Award pursuant to the schedule set forth in Section 2 herein or the issuance  of the Shares in respect of your Award), the Plan or any covenant of good faith and fair dealing  that may be found implicit in this Agreement or the Plan shall:  (i) confer upon you any right to  continue in the service of, or affiliation with, the Company or an Affiliate; (ii) constitute any  promise or commitment by the Company or an Affiliate regarding the fact or nature of future  positions, future work assignments, future compensation or any other term or condition of service  or affiliation; (iii) confer any right or benefit under this Agreement or the Plan unless such right or  benefit has specifically accrued under the terms of this Agreement or Plan; or (iv) deprive the  Company or an Affiliate of the right to terminate you at will and without regard to any future  vesting opportunity that you may have.  (b) By accepting this Award, you acknowledge and agree that the right to  continue vesting in the Award pursuant to the schedule set forth in Section 2 is earned only by  continuing as an employee, director or consultant at the will of the Company (not through the act  of being hired, being granted this Award or any other award or benefit) and that the Company has  the right to reorganize, sell, spin-out or otherwise restructure one or more of its businesses or  Affiliates at any time or from time to time, as it deems appropriate (a “reorganization”).  You  further acknowledge and agree that such a reorganization could result in your Termination of  Employment, or the termination of Affiliate status with the Company and the loss of benefits  available to you under this Agreement, including but not limited to, the termination of the right to  continue vesting in the Award.  You further acknowledge and agree that this Agreement, the Plan,  the transactions contemplated hereunder and the vesting schedule set forth herein or any covenant  of good faith and fair dealing that may be found implicit in any of them do not constitute an express  or implied promise of continued engagement as an employee or consultant for the term of this  Agreement, for any period, or at all, and shall not interfere in any way with your right or the  Company’s right to terminate your service at any time, with or without cause and with or without  notice.  

 

     6.     2-10-2022       10. WITHHOLDING OBLIGATIONS.  (a) On or before the time you receive a distribution of Shares pursuant to your  Award, or at any time thereafter as requested by the Company, you hereby authorize any required  withholding from the Shares issuable to you and/or otherwise agree to make adequate provision in  cash for any sums required to satisfy the federal, state, local and foreign tax withholding  obligations of the Company or any Affiliate which arise in connection with your Award (the  “Withholding Obligation”), if any.    (b) Additionally, the Company may, at its discretion, satisfy the Withholding  Obligation, if any, by the following means (or by a combination of the following means):  (i) Requiring you to pay to the Company any portion of the  Withholding Obligation in cash;  (ii) Withholding from any compensation otherwise payable to you by  the Company;   (iii) Withholding Shares from the Shares issued or otherwise issuable to  you in connection with the Award with a Fair Market Value (measured as of the date Shares are  issued pursuant to Section 6) equal to the amount of the Withholding Obligation; provided,  however, that the number of such Shares so withheld shall not exceed the amount necessary to  satisfy the Company’s or Affiliate’s required tax withholding obligations using the minimum  statutory withholding rates for federal, state, local and foreign tax purposes, including payroll  taxes, that are applicable to supplemental taxable income (or such other amount as may be  permitted while still avoiding classification of the Award as a liability for financial accounting  purposes); and/or  (iv)   Permitting you to enter into a “same day sale” commitment with a  broker-dealer that is a member of the Financial Industry Regulatory Authority (a “FINRA  Dealer”) whereby you irrevocably elect to sell a portion of the Shares to be delivered in connection  with your Award to satisfy the Withholding Obligation and whereby the FINRA Dealer  irrevocably commits to forward the proceeds necessary to satisfy the Withholding Obligation  directly to the Company and/or its Affiliates.  (c) Unless the Withholding Obligation, if any, of the Company and/or any  Affiliate are satisfied, the Company shall have no obligation to deliver to you any Shares.  (d) In the event the Withholding Obligation, if any, of the Company arises prior  to the delivery to you of Shares or it is determined after the delivery of Shares to you that the  amount of the Withholding Obligation was greater than the amount withheld by the Company, you  agree to indemnify and hold the Company harmless from any failure by the Company to withhold  the proper amount.  

 

     7.     2-10-2022       11. UNSECURED OBLIGATION.  Your Award is unfunded, and as a holder of a vested  Award, you shall be considered an unsecured creditor of the Company with respect to the  Company’s obligation, if any, to issue Shares pursuant to this Agreement.  You shall not have  voting or any other rights as a stockholder of the Company with respect to the Shares to be issued  pursuant to this Agreement until such Shares are issued to you pursuant to Section 6 of this  Agreement.   Upon such issuance, you will obtain full voting and other rights as a stockholder of  the Company.  Nothing contained in this Agreement, and no action taken pursuant to its provisions,  shall create or be construed to create a trust of any kind or a fiduciary relationship between you  and the Company or any other person.  12. OTHER DOCUMENTS.  You hereby acknowledge receipt or the right to receive a  document providing the information required by Rule 428(b)(1) promulgated under the Securities  Act, which includes the Plan prospectus.  In addition, you acknowledge receipt of the Company’s  policy on trading in Company securities permitting insiders to sell Shares only during certain  “window” periods and the Company’s insider trading policy, in effect from time to time.    13. DATA TRANSFER.  You hereby explicitly and unambiguously consent to the  collection, use and transfer, in electronic or other form, of your personal data as described in this  document by the Company for the purpose of implementing, administering and managing your  participation in the Plan.  You understand that the Company holds certain personal information  about you, including, but not limited to, your name, home address and telephone number, date of  birth, social security number (or other identification number), salary, nationality, job title, any  shares of stock or directorships held in the Company, details of all options or any other entitlement  to shares of stock awarded, canceled, purchased, exercised, vested, unvested or outstanding in your  favor for the purpose of implementing, managing and administering the Plan (“Data”).  You  understand that the Data may be transferred to any third parties assisting in the implementation,  administration and management of the Plan, including providing ancillary services related to stock  plan administration.  You authorize the recipients to receive, possess, use, retain and transfer the  Data, in electronic or other form, for the purposes of implementing, administering and managing  your participation in the Plan (including providing ancillary services related to stock plan  administration), including any requisite transfer of such Data, as may be required to a broker or  other third party with whom you may elect to deposit any shares issued in respect of your Award.  14. NOTICES; ELECTRONIC DELIVERY AND ACCEPTANCE.  Any notices provided for  in your Award or the Plan shall be given in writing and shall be deemed effectively given upon  receipt or, in the case of notices delivered by the Company to you, five (5) days after deposit in  the United States mail, postage prepaid, addressed to you at the last address you provided to the  Company.  Notwithstanding the foregoing, the Company may, in its sole discretion, decide to  deliver any documents related to participation in the Plan and this Award by electronic means or  to request your consent to participate in the Plan by electronic means.  You hereby consent to  receive such documents by electronic delivery and, if requested, to agree to participate in the Plan  through an on-line or electronic system established and maintained by the Company, the Agent or  another third party designated by the Company and agree notice shall be provided upon posting to  your electronic account held by the Company, the Agent or another third party designated by the  

 

     8.     2-10-2022       Company.  You hereby acknowledge that delivery, execution and acceptance of this or any other  such documents by electronic means constitutes valid and effective delivery, execution and  acceptance and shall be legally effective to create a valid and binding agreement.  15. MISCELLANEOUS.  (a) The rights and obligations of the Company under your Award shall be  transferable by the Company to any one or more persons or entities, and all covenants and  agreements hereunder shall inure to the benefit of, and be enforceable by the Company’s  successors and assigns. Your rights and obligations under your Award may only be assigned with  the prior written consent of the Company.   (b) You agree upon request to execute any further documents or instruments  necessary or desirable in the sole determination of the Company to carry out the purposes or intent  of your Award.  (c) You acknowledge and agree that you have reviewed your Award in its  entirety, have had an opportunity to obtain the advice of counsel prior to executing and accepting  your Award, and fully understand all provisions of your Award.  (d) This Agreement shall be subject to all applicable laws, rules, and  regulations, and to such approvals by any governmental agencies or national securities exchanges  as may be required.  (e) All obligations of the Company under the Plan and this Agreement shall be  binding on any successor to the Company, whether the existence of such successor is the result of  a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the  business and/or assets of the Company.  16. GOVERNING PLAN DOCUMENT.  Your Award is subject to all the provisions of the  Plan, the provisions of which are hereby made a part of your Award, and is further subject to all  interpretations, amendments, rules and regulations which may from time to time be promulgated  and adopted pursuant to the Plan.  Except as expressly provided herein, in the event of any conflict  between the provisions of your Award and those of the Plan, the provisions of the Plan shall  control.   17. ENTIRE AGREEMENT.  The Plan, this Agreement and the Grant Notice constitute  the entire agreement of the parties with respect to the subject matter hereof and supersede in their  entirety all prior undertakings and agreements of the Company and you with respect to the subject  matter hereof, with the exception of any arrangement that would provide for vesting acceleration  of this Award upon the terms and conditions set forth therein.  This Agreement is governed by the  laws of the state of Delaware.    18. SEVERABILITY.  If all or any part of this Agreement or the Plan is declared by any  court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity shall  

 

     9.     2-10-2022       not invalidate any portion of this Agreement or the Plan not declared to be unlawful or invalid.  Any Section of this Agreement (or part of such a Section) so declared to be unlawful or invalid  shall, if possible, be construed in a manner which will give effect to the terms of such Section or  part of a Section to the fullest extent possible while remaining lawful and valid.  19. EFFECT ON OTHER EMPLOYEE BENEFIT PLANS.  In the event that you become an  Employee, the value of the Award subject to this Agreement shall not be included as compensation,  earnings, salaries, or other similar terms used when calculating your benefits under any employee  benefit plan sponsored by the Company or any Affiliate, except as such plan otherwise expressly  provides. The Company expressly reserves its rights to amend, modify, or terminate any of the  Company’s or any Affiliate’s employee benefit plans.  20. AMENDMENT.  This Agreement may not be modified, amended or terminated  except by an instrument in writing, signed by you and by a duly authorized representative of the  Company. Notwithstanding the foregoing, this Agreement may be amended solely by the  Administrator by a writing which specifically states that it is amending this Agreement, so long as  a copy of such amendment is delivered to you, and provided that no such amendment materially  adversely affecting your rights hereunder may be made without your written consent, except as  otherwise provided in the Plan. Without limiting the foregoing, the Administrator reserves the right  to change, by written notice to you and without your prior written consent, the provisions of this  Agreement in any way it may deem necessary or advisable to carry out the purpose of the grant to  facilitate compliance with applicable laws or regulations or any future law, regulation, ruling, or  judicial decision.ex109directoroptionagree

  Exhibit 10.9    1    2-10-2022  SEAGEN INC.  AMENDED AND RESTATED 2007 EQUITY INCENTIVE PLAN  NOTICE OF STOCK OPTION GRANT      «Name»  «Title»  «CompanyInstitute»  «Address»  «Address2»  «City_State_Zip»    Dear «Salutation»:    You have been granted an option to purchase Common Stock of Seagen Inc. as follows:  Date of Grant [_______]  Exercise Price per Share [$______]  Total Number of Shares Granted [_______]  Type of Option Nonstatutory Stock Option  Expiration Date [________]  Vesting Schedule:  Subject to Section 3 of the Stock Option  Agreement, this Option may be  exercised, in whole or in part, in  accordance with the following schedule,  provided that Optionee does not  experience a Termination of  Employment before the applicable  vesting date: [One hundred percent  (100%) of the total number of Shares  subject to the Option shall vest on the  first anniversary of the Grant Date]  [One-fourth (1/4th) of the total number  of Shares subject to the Option shall vest  on the first anniversary of the Grant  Date, and one thirty-sixth (1/36th) of the  remaining Shares subject to the Option  shall vest each month thereafter until all  Shares are fully vested].    Termination Period:   This Option may be exercised for three  months after Optionee’s Termination of  

 

  Exhibit 10.9    2    2-10-2022  Employment, or such longer period as  may be applicable upon the death or  Disability of Optionee as provided in the  Stock Option Agreement, but in no  event later than the Expiration Date as  provided above.   

 

  Exhibit 10.9    3    2-10-2022    By your signature and the signature of the Company’s representative below, you and  Seagen Inc. agree that this Option is granted under and governed by the terms and conditions of  the Seagen Inc. Amended and Restated 2007 Equity Incentive Plan and the Stock Option  Agreement, all of which are attached and made a part of this document.    OPTIONEE  SEAGEN INC.              By:   «Name»    Clay B. Siegall, Ph.D.    President & CEO      Social Security Number      

 

  Exhibit 10.9    4    2-10-2022  SEAGEN INC.  AMENDED AND RESTATED 2007 EQUITY INCENTIVE PLAN  STOCK OPTION AGREEMENT   THIS STOCK OPTION AGREEMENT (the “Agreement”) dated [________] (“Grant  Date”) between Seagen Inc., a Delaware corporation (the “Company”), and «Name»  (“Optionee”), is entered into as follows:   WITNESSETH:    WHEREAS, the Company has established the Amended and Restated 2007 Equity  Incentive Plan (the “Plan”); and    WHEREAS, the Board of Directors of the Company (the “Board”) has determined that  Optionee shall be granted an option under the Plan as hereinafter set forth;   The parties hereby agree that the Company grants, effective as of the Grant Date,  Optionee a Nonstatutory Stock Option (this “Option”) to purchase [________] shares of its  $0.001 par value Common Stock (the “Shares”) upon the terms and conditions set forth in this  Agreement.     1. Plan Award.  This Option is granted under and pursuant to the Plan and is subject to  each and all of the provisions thereof.      2. Exercise Price.  The exercise price applicable to this Option (meaning, the price  Optionee must pay in order to purchase any Shares hereunder) shall be [$_______] per Share.     3. Vesting and Exercise of Option.  Subject to Optionee’s not experiencing a Termination  of Employment during the following vesting period, Optionee shall vest in and earn the right to  exercise this Option as follows: [One hundred percent (100%) of the total number of Shares  subject to the Option shall vest on the first anniversary of the Grant Date] [One-fourth (1/4th) of  the total number of Shares subject to the Option shall vest on the first anniversary of the Grant  Date, and one thirty-sixth (1/36th) of the remaining Shares subject to the Option shall vest each  month thereafter until all Shares are fully vested].  This Option may be exercised in whole or in  part.    Notwithstanding the foregoing or anything in this Agreement to the contrary, in the event  of Optionee's Termination of Employment as a result of Optionee's death or Disability, the  vesting and exercisability of this Option shall accelerate such that this Option shall become vested  and exercisable as to an additional twelve (12) months, effective as of the date of such  Termination of Employment, to the extent that this Option is outstanding on such date.    In the event of a Change in Control (as defined in the Plan), the vesting of this Option (if  this Option is outstanding at such time) shall be accelerated in full such that Optionee shall have  the right to exercise this Option for all of the Shares subject to this Option immediately prior to  the effective time of the Change in Control.   

 

  Exhibit 10.9    5    2-10-2022    4. Expiration.  This Option will expire ten (10) years from the Grant Date, unless sooner  terminated or canceled in accordance with the provisions of the Plan.  This means that (subject to  the continuing service requirement set forth in Section 3 above and subject to earlier termination  upon certain other events as set forth in the Plan) this Option must be exercised, if at all, on or  before [________] (the “Expiration Date”).  If this Option expires on a stock exchange holiday  or weekend day, this Option will expire on the last trading day prior to the holiday or weekend.   Optionee shall be solely responsible for exercising this Option, if at all, prior to its Expiration  Date.  The Company shall have no obligation to notify Optionee of this Option's expiration.     5. Exercise Mechanics.  This Option may be exercised by delivery of an exercise notice, in  the form attached as Exhibit A (the “Exercise Notice”), which shall state the election to exercise  the Option, the number of Shares in respect of which the Option is being exercised (the  “Exercised Shares”), and such other representations and agreements as may be required by the  Company pursuant to the provisions of the Plan.  The Exercise Notice shall be signed by  Optionee and shall be delivered in person or by certified mail to the Secretary of the Company.   The Exercise Notice must be accompanied by the payment of the full Option exercise price of  such Shares.  Exercise shall not be deemed to have occurred unless and until Optionee has  delivered to the Company (or its authorized representative) an approved notice of exercise, full  payment of the exercise price for the Shares being exercised and payment of any applicable  withholding taxes in accordance with Section 8 below.  Payment of the Option exercise price may  be in cash (including check or wire transfer); through an approved cashless-brokered exercise  program; with Shares (subject to the Company's discretion to withhold approval for such payment  method at any time); through a cashless “net exercise” arrangement pursuant to which the  Company will reduce the number of Shares issued upon exercise by the largest whole number of  Shares having an aggregate fair market value that does not exceed the aggregate exercise price,  provided the Company shall accept a cash or other payment from Optionee to the extent of any  remaining balance of the exercise price not satisfied by such reduction in the number of whole  Shares to be issued; or a combination thereof to the extent permissible under Applicable Law;  provided, however, that any permitted method of payment shall be in strict compliance with all  procedural rules established by the Board.    6. Termination of Employment.  All rights of Optionee in this Option, to the extent that it  has not previously become vested and been exercised, shall terminate upon Optionee's  Termination of Employment except as set forth in this Section 6.  The portion of the Option that  relates to any Shares that were unvested and unexercisable as of the date of Optionee's  Termination of Employment shall terminate and expire effective immediately upon such date.   With respect to the vested and exercisable portion of the Option, and subject to the final sentence  of this Section 6:    (i) In the event of Termination of Employment other than as a result of Optionee's  death or Disability, Optionee shall have three months from the date of such Termination of  Employment to exercise the Option as to the Shares subject to the Option that were vested and  exercisable as of the date of Termination of Employment; provided, however, that (A) if during  any part of such three month period, the Option is not exercisable because the issuance of the  Shares would violate the registration requirements under the Securities Act, the Option shall not  expire until the Option shall have been exercisable for an aggregate of three months after the date  of Termination of Employment (but in no event may the Option be exercised more than one year  

 

  Exhibit 10.9    6    2-10-2022  after the date of Termination of Employment), and (B) if during any part of such three month  period, the Shares issued upon exercise of the Option may not be sold because Optionee has  material nonpublic information regarding the Company or is otherwise subject to a trading  blackout period under the Company’s Insider Trading Policy, the Option shall not expire until  Optionee shall have had an aggregate of three months after the date of Termination of  Employment during which Optionee can sell the Shares without being subject to such restrictions  arising under insider trading laws or Company policy (but in no event may the Option be  exercised more than one year after the date of Termination of Employment);     (ii) In the event of Termination of Employment as a result of Optionee's Disability,  Optionee shall have 12 months from the date of such Termination of Employment to exercise the  Option as to the Shares subject to the Option that were vested and exercisable as of the date of  Termination of Employment; and    (iii) In the event of Termination of Employment as a result of Optionee’s death or in  the event of Optionee’s death within three months following Optionee’s Termination of  Employment, Optionee's estate, any person who acquired the right to exercise the Option by  bequest or inheritance, or any person designated to exercise the Option upon Optionee's death  shall have 12 months following Optionee’s death to exercise the Option as to the Shares subject  to the Option that were vested and exercisable as of the date of Optionee’s death.    Notwithstanding the above, in no event may an Option be exercised, even as to vested and  otherwise exercisable Shares, after the Expiration Date set forth in Section 4 above.     7. Transferability.  This Option is not transferable by Optionee otherwise than by will or  the laws of descent and distribution, and is exercisable only by Optionee during Optionee’s  lifetime.    8. Tax Matters.  Regardless of any action the Company takes with respect to any or all  income tax, social security, payroll tax, payment on account or other tax-related withholding  (“Tax-Related Items”), Optionee acknowledges and agrees that the ultimate liability for all Tax- Related Items legally due by him or her is and remains Optionee's responsibility and that the  Company (i) makes no representations nor undertakings regarding the treatment of any Tax- Related Items in connection with any aspect of this Option, including the grant, vesting or  exercise of this Option, the subsequent sale of Shares acquired pursuant to such exercise and  receipt of any dividends; and (ii) does not commit to structure the terms or the grant or any aspect  of this Option to reduce or eliminate Optionee's liability for Tax-Related Items.  If Optionee is  subject to certain withholding requirements, then prior to the exercise of this Option, Optionee  shall pay or make adequate arrangements satisfactory to the Company to withhold all applicable  Tax-Related Items legally payable by Optionee from Optionee's wages or other cash  compensation paid to Optionee by the Company or from proceeds of the sale of Shares.   Alternatively, or in addition, if applicable and permissible under Applicable Laws, the Company  may (but shall not be obligated to): (1) sell or arrange for the sale of Shares that Optionee  acquires to meet the withholding obligation for Tax-Related Items, and/or (2) withhold in Shares  to meet the withholding obligation for Tax-Related Items, provided that the Company only  withholds the amount of Shares necessary to satisfy the minimum withholding amount (or such  other amount as may be permitted while still avoiding classification of this Option as a liability  for financial accounting purposes).  In addition, if applicable, Optionee shall pay the Company  

 

  Exhibit 10.9    7    2-10-2022  any amount of Tax-Related Items that the Company may be required to withhold as a result of  Optionee's participation in the Plan or Optionee's purchase of Shares that cannot be satisfied by  the means previously described, and if Optionee does not otherwise so pay the Company, then the  Company may withhold amounts from Optionee's cash compensation to satisfy such withholding  obligation.  The Company may refuse to honor the exercise and refuse to deliver the Shares if  Optionee fails to comply with Optionee's obligations in connection with the Tax-Related Items  (including if Optionee's cash compensation is not sufficient to satisfy such obligations).   Although Optionee is being provided in the Plan prospectus a description of certain tax  consequences of transactions related to the Option, Optionee remains responsible for all such tax  consequences and the Company shall not be deemed to provide any individual tax advice with  respect thereto.      9. Optionee Acknowledgements.  By accepting the grant of this Option, Optionee  acknowledges and agrees that the Plan is established voluntarily by the Company, it is  discretionary in nature and may be modified, amended, suspended or terminated by the Company  at any time unless otherwise provided in the Plan or this Agreement.  Optionee acknowledges that  all decisions with respect to future grants, if any, will be at the sole discretion of the Company.   Optionee's participation in the Plan shall not create a right to his or her continued service as a  Director.  This Option shall not be part of calculating any severance, resignation, termination,  redundancy, end-of-service payments, bonuses, long-service awards, pension or retirement  benefits or similar payments insofar as permitted by law.  In the event that Optionee is not an  employee of the Company, this Option grant will not be interpreted to form an employment  contract or relationship with the Company or any Subsidiary or Affiliate of the Company.   Optionee acknowledges that the future value of the underlying Shares is unknown, may increase  or decrease in the future, and cannot be predicted with certainty.  In consideration of the grant of  this Option, no claim or entitlement to compensation or damages shall arise from termination of  this Option or diminution in value of this Option or Shares purchased through exercise of this  Option resulting from Optionee's Termination of Employment by the Company (for any reason  whatsoever and whether or not in breach of Applicable Laws).    10. Data Transfer.  Optionee explicitly and unambiguously consents to the collection, use  and transfer, in electronic or other form, of Optionee's personal data as described in this document  by the Company for the purpose of implementing, administering and managing Optionee's  participation in the Plan.  Optionee understands that the Company holds certain personal  information about Optionee, including, but not limited to, name, home address and telephone  number, date of birth, social security number (or other identification number), salary, nationality,  job title, any shares of stock or directorships held in the Company, details of all options or any  other entitlement to shares of stock awarded, canceled, purchased, exercised, vested, unvested or  outstanding in Optionee's favor for the purpose of implementing, managing and administering the  Plan (“Data”).  Optionee understands that the Data may be transferred to any third parties  assisting in the implementation, administration and management of the Plan, including providing  ancillary services related to stock plan administration.  Optionee authorizes the recipients to  receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of  implementing, administering and managing Optionee's participation in the Plan (including  providing ancillary services related to stock plan administration), including any requisite transfer  of such Data, as may be required to a broker or other third party with whom Optionee may elect  to deposit any Shares acquired upon the exercise of this Option.      

 

  Exhibit 10.9    8    2-10-2022  11. Notices; Electronic Delivery and Acceptance.  Any notices provided for in this Option  or the Plan shall be given in writing and shall be deemed effectively given upon receipt or, in the  case of notices delivered by the Company to Optionee, five (5) days after deposit in the United  States mail, postage prepaid, addressed to Optionee at the last address Optionee provided to the  Company.  Notwithstanding the foregoing, the Company may, in its sole discretion, decide to  deliver any documents related to participation in the Plan and this Option by electronic means or  to request Optionee’s consent to participate in the Plan by electronic means.  Optionee hereby  consents to receive such documents by electronic delivery and, if requested, to agree to  participate in the Plan through an on-line or electronic system established and maintained by the  Company or another third party designated by the Company and agrees notice shall be provided  upon posting to Optionee’s electronic account held by the Company or another third party  designated by the Company.  You hereby acknowledge that delivery, execution and acceptance of  this or any other such documents by electronic means constitutes valid and effective delivery,  execution and acceptance and shall be legally effective to create a valid and binding agreement.    12. Copies of Plan Materials.  Optionee acknowledges that Optionee has received copies of  the Plan and the Plan prospectus from the Company and agrees to receive stockholder  information, including copies of any annual report, proxy statement and periodic report, from the  Company's website at https://investor.seagen.com/overview/default.aspx (under the “Financial  information” tab).  Optionee acknowledges that copies of the Plan, Plan prospectus, Plan  information and stockholder information are also available upon written or telephonic request to  the Stock Plan Administrator.    13. Entire Agreement; Plan Controls.  The Plan is incorporated herein by reference.  The  Plan and this Agreement constitute the entire agreement of the parties with respect to the subject  matter hereof and supersede in their entirety all prior undertakings and agreements of the  Company and Optionee with respect to the subject matter hereof, with the exception of any  arrangement that would provide for vesting acceleration of this Option upon the terms and  conditions set forth therein.  This Agreement is governed by the laws of the state of Delaware.  In  the event of any conflict between the terms and provisions of the Plan and this Agreement, the  Plan terms and provisions shall govern.  Capitalized terms used but not defined in this Agreement  or the Notice of Stock Option Grant attached to this Agreement have the meanings assigned to  them in the Plan.  Certain other important terms governing this Agreement are contained in the  Plan.    14. Severability.  If all or any part of this Agreement or the Plan is declared by any court or  governmental authority to be unlawful or invalid, such unlawfulness or invalidity shall not  invalidate any portion of this Agreement or the Plan not declared to be unlawful or invalid.  Any  Section of this Agreement (or part of such a Section) so declared to be unlawful or invalid shall,  if possible, be construed in a manner which will give effect to the terms of such Section or part of  a Section to the fullest extent possible while remaining lawful and valid.    15. Amendment.  This Agreement may not be modified, amended or terminated except by  an instrument in writing, signed by Optionee and by a duly authorized representative of the  Company.  Notwithstanding the foregoing, this Agreement may be amended solely by the  Administrator by a writing which specifically states that it is amending this Agreement, so long as  a copy of such amendment is delivered to Optionee, and provided that no such amendment  adversely affecting Optionee’s rights hereunder may be made without Optionee’s written consent,  

 

  Exhibit 10.9    9    2-10-2022  except as otherwise provided in the Plan.  Without limiting the foregoing, the Administrator  reserves the right to change, by written notice to Optionee, the provisions of this Agreement in  any way it may deem necessary or advisable to carry out the purpose of the grant as a result of  any change in applicable laws or regulations or any future law, regulation, ruling, or judicial  decision, provided that any such change shall be applicable only to rights relating to that portion  of the Option which is then subject to restrictions as provided herein.    

 

  Exhibit 10.9    10    2-10-2022  By your signature and the signature of the Company’s representative below, you and the  Company agree that this Option is granted under and governed by the terms and conditions of the  Amended and Restated 2007 Equity Incentive Plan (the “Plan”) and this Stock Option  Agreement (the “Agreement”).  Optionee has reviewed the Plan and this Agreement in their  entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement  and fully understands all provisions of the Plan and this Agreement.  Optionee hereby agrees to  accept as binding, conclusive and final all decisions or interpretations of the Administrator upon  any questions relating to the Plan and this Agreement.    OPTIONEE  SEAGEN INC.           By:   «Name»     Clay B. Siegall, Ph.D.     President & CEO         

 

  Exhibit 10.9    11    2-10-2022  EXHIBIT A    NOTICE OF EXERCISE      To: Seagen Inc.    Attn: Stock Option Administrator    Subject: Notice of Intention to Exercise Stock Option      This is official notice that the undersigned (“Optionee”) intends to exercise Optionee’s  option to purchase __________ shares of Seagen Inc. Common Stock, under and pursuant to the  Company’s Amended and Restated 2007 Equity Incentive Plan and the Stock Option Agreement  dated _______________, as follows:  Grant Number:    Date of Purchase:    Number of Shares:    Purchase Price:    Method of Payment of   Purchase Price:    Social Security No.:    The shares should be issued as follows:  Name:     Address:              Signed:     Date:

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