Document:

Exhibit
10.3

 

GENZYME
CORPORATION

NOTICE OF GRANT OF STOCK OPTIONS

AND OPTION AGREEMENT

ID: 06-1047163

500 Kendall Street

Cambridge, MA 02142

OPTIONEE NAME

OPTION NUMBER:

OPTIONEE ADDRESS:

PLAN:

ID:

Effective _________, you
have been granted a(n) Non-Qualified Stock Option to buy _____ shares of
GENZYME CORPORATION (the Company) stock at $_______ per share.

The total option price of
the shares granted is $_________.

Shares in each period
will become fully vested on the date shown.

	
  Shares

  	
   

  	
  Vest Type

  	
   

  	
  Full Vest

  	
   

  	
  Expiration

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

MAINTAIN THIS COPY
FOR YOUR RECORDS.

These options are granted
under and governed by the terms and conditions of the Company’s equity plan as
amended and the Option Agreement, all of which are attached and made a part of
this document.

 

Genzyme Corporation 2007
Director Equity Plan

Nonstatutory Stock Option

Terms and Conditions

1.  Plan Incorporated by Reference.  This Option is issued
pursuant to the terms of the Plan and may be amended as provided in the
Plan.  Capitalized terms used and not
otherwise defined in this certificate have the meanings given to them in the
Plan.  This certificate does not set
forth all the terms and conditions of the Plan, which are incorporated herein
by reference.  Grants of options under
the Plan are automatic and any interpretation with respect to the Plan and
options granted under it shall be determined by a committee consisting of all Directors
of the Company who are not eligible to participate in the Plan and such
determinations are final and binding. 
Copies of the Plan may be obtained upon written request without charge
from the Shareholder Relations department of the Company.

2.  Option Price.  The price to be paid for
each share of Stock issued upon exercise of the whole or any part of this
Option is the option price set forth on the face of this certificate as
determined in accordance with the Plan (the “Option Price”).

3.  Period of Exercise.  This Option may be exercised from time to
time up to the number of shares and in accordance with the exercisability
schedule set forth on the face of this certificate, but only for the purchase
of whole shares.  A Director who ceases
to serve as a member of the Board may, during his or her lifetime, exercise the
rights he or she had under this Option at the time he or she ceased being a
Director for the full unexpired term of such Option.  Upon the death of the Director, those
entitled to do so under the Director’s will or the laws of descent and
distribution shall have the right, at any time within twelve (12) months after
the death, to exercise in whole or in part any rights which were available to
the Director at the time of his or her death. 
This Option may not be exercised as to any shares after the expiration
date, which shall be ten years from the Date of Grant.

4.  Method of Exercise and Payment.  This Option may be exercised
only by written notice to the company at its head office accompanied by payment
of the full Option Price for the shares of Stock as to which they are
exercised.  The Option Price shall be
paid in cash or by check.  Promptly
following notice and payment, the Company will deliver to the Director (or
other person entitled to exercise the option) a certificate representing the
number of shares with respect to which the Option is being exercised.

5.  Transferability.  This Option may be transferred without
consideration (or for such consideration as the committee may from time to time
deem appropriate) by the holder thereof to any Family Member of such director;
provided, however, that no subsequent transfer of this Option shall be
permitted except for transfers: (i) to a Family Member of such director; (ii)
back to the director; or (iii) pursuant to the applicable laws of descent and
distribution.  For this purpose, “Family
Member” shall mean (i) 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 any adoptive relationships, and any other person sharing the
transferor Director’s household (other than as a tenant or employee); (ii) any
trust in which any of the persons described in clause (i) holds a greater than
50% beneficial interest;  (iii) any
foundation in which any of the persons described in clause (i) or the
transferor Director controls the management of assets; or (iv) any other entity
in which any of the persons described in clause (i) or the Director holds more
than 50% of the voting interests.

6.  Recapitalizations, Mergers, etc.  In the event of a consolidation or merger of
the Company with another corporation where the Company’s stockholders do not
own a majority in interest of the surviving or resulting corporation, or the
sale or  exchange of all or
substantially all of the assets of the Company, or a reorganization or
liquidation of the Company, any deferred exercise period shall be automatically
accelerated and the Director shall be entitled to receive upon exercise and
payment in accordance with the terms of the Option the same shares, securities
or property as he or she would have been entitled to receive upon the
occurrence of such event if he or she had been, immediately prior to such
event, the holder of the number of shares of Stock purchasable under this
Option or, if another corporation shall be the survivor, such corporation shall
substitute therefor substantially equivalent shares, securities or property of
such other corporation; provided, however, that in lieu of the foregoing the
Board may make such other provision as it may consider equitable to the
Director and in the best interests of the Company. Notwithstanding the
foregoing, in the event of a change in control of the Company (as defined in a
vote of the Compensation Committee adopted May 29, 2002), this option shall
become exercisable as to all shares without regard to any deferred
exercisability schedule or deferred exercise period.

7.  Limitation of Rights.  Neither the Plan, nor the
granting of this Option or any other action taken pursuant to the Plan, shall
constitute an agreement or understanding, express or implied, that the Company
will retain an optionee as a Director for any period of time or at any
particular rate of compensation. 
A  Director shall have no
rights as a stockholder with respect to the shares covered by this Option until
the date he or she exercises such Option and pays the Option Price to the
Company.

8.  Compliance with Securities Laws.  It shall be a condition to the
Director’s right to purchase shares of Stock hereunder that the Company may, in
its discretion, require (a) that the shares of Stock reserved for issue upon
the exercise of this Option shall have been duly listed, upon official notice
of issuance, upon any national securities exchange or automated quotation
system on which the Company’s Stock may then be listed or quoted, (b) that
either (i) a registration statement under the Securities Act of 1933 with
respect to the shares shall be in effect, or (ii) in the opinion of counsel for
the Company, the proposed purchase shall be exempt from registration under that
Act and the Director shall have made such undertakings and agreements with the
Company as the Company may reasonable require, and (c) that such other steps,
if any, as counsel for the Company shall consider necessary to comply with any
law applicable to the issue of such shares by the Company shall have been taken
by the Company or the Director, or both. 
The certificates representing the shares purchased under this Option may
contain such legends as counsel for the Company shall consider necessary to
comply with any applicable law.

9.  Acceptance.  Failure of the participant to accept the
terms and conditions of this Option can result in adverse consequences to the
participant, including cancellation of the stock option.

    ACKNOWLEDGED
AND AGREED:

	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Signature

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name (Print)

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  DateExhibit
10.4

 

	
  

  	
   

  
	
  Notice of Grant of Award

  and Award Agreement

  	
  GENZYME CORPORATION

  ID: 06-1047163

  500 Kendall Street

  Cambridge, MA 02142

  
	
   

  	
   

  

 

	
  [First Name][Last Name]

  	
  Award Number:

  	
  [Grant Number]

  
	
  [Address Line 1]

  	
  Plan:

  	
  [Plan Number]

  
	
  [City], [State] [Zip][Country]

  	
  ID:

  	
  [Social Security]

  

 

Effective
[Grant Date], you have been granted an award of [Share Number] restricted stock
units.  These units are restricted until
the vest date(s) shown below, at which time you will receive shares of GENZYME
CORPORATION (the Company) common stock.

The
current total value of the award is $[Dollar Amount].

The
total price of the award is $[Dollar Amount].

The
award will vest in increments on the date(s) shown.

	
  Shares

  	
   

  	
  Full Vest

  
	
  [Share Number]

  	
   

  	
  [Grant Date]

  
	
   

  	
   

  	
   

  

 

This
award is granted under and governed by the terms and conditions of the
Company’s Equity Plan as Amended and the Award Agreement, all of which are
attached and made a part of this document.

 

 

Genzyme Corporation 2007
Director Equity Plan

Restrictive Stock Unit Terms and Conditions

1.  Plan Incorporated by Reference.  This Restricted Stock Unit
is issued pursuant to the terms of the Plan and may be amended as provided in
the Plan.  Capitalized terms used and not
otherwise defined in this certificate have the meanings given to them in the
Plan.  This certificate does not set
forth all the terms and conditions of the Plan, which are incorporated herein
by reference.  Grants of Restrictive
Stock Units under the Plan are automatic and any interpretation with respect to
the Plan and Restrictive Stock Units granted under it shall be determined by a
committee consisting of all Directors of the Company who are not eligible to
participate in the Plan and such determinations are final and binding.  Copies of the Plan may be obtained upon
written request without charge from the Shareholder Relations department of the
Company.

2.  Vesting Schedule.  The Director’s right to
acquire the number of shares of Stock of the Company set forth on the face of
this certificate shall vest on the third anniversary of the date of grant (the “Vesting
Date”). Notwithstanding the foregoing, this Restricted Stock Unit shall not
vest on the Vesting Date unless the Director is then, and since the date of
grant has been continuously, serving as Director of the Company.

3.  Delivery of Shares.  As soon as practicable after the Vesting Date
for this Restricted Stock Unit, the Company shall deliver to the Director the
number of shares of Stock of the Company set forth on the face of this
certificate.  The provisions of this
section 3 and of section 2 above shall not be construed as limiting the Company’s
right to accelerate the vesting of any portion of the Restricted Stock Unit or
of the delivery of shares in respect of any vested portion of the Restricted
Stock Unit whether in connection with a Covered Transaction or Change in
Control or otherwise, subject, however, to the requirements for exemption from,
or compliance with, Section 409A, as determined by the committee.

4.  Transferability.  This Restrictive Stock Unit may be
transferred without consideration (or for such consideration as the committee
may from time to time deem appropriate) by the holder thereof to any Family
Member of such Director; provided, however, that no subsequent transfer of this
Restrictive Stock Unit shall be permitted except for transfers: (i) to a Family
Member of such Director; (ii) back to the Director; or (iii) pursuant to the
applicable laws of descent and distribution. 
For this purpose, “Family Member” shall mean (i) 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 any adoptive relationships, and any
other person sharing the transferor Director’s household (other than as a
tenant or employee); (ii) any trust in which any of the persons described in
clause (i) holds a greater than 50% beneficial interest;  (iii) any foundation in which any of the
persons described in clause (i) or the transferor Director controls the
management of assets; or (iv) any other entity in which any of the persons
described in clause (i) or the Director holds more than 50% of the voting
interests.

5.  Recapitalizations, Mergers, etc.  In the event of a consolidation or merger of
the Company with another corporation where the Company’s stockholders do not
own a majority in interest of the surviving or resulting corporation, or the
sale or  exchange of all or
substantially all of the assets of the Company, or a reorganization or
liquidation of the Company, any deferred vesting period shall be automatically
accelerated and the Director shall be entitled to receive upon vesting in
accordance with the terms of the Restrictive Stock Unit the same shares,
securities or property as he or she would have been entitled to receive upon
the occurrence of such event if he or she had been, immediately prior to such
event, the holder of the number of shares of Stock vested under this Restrictive
Stock Unit or, if another corporation shall be the survivor, such corporation
shall substitute therefor substantially equivalent shares, securities or
property of such other corporation; provided, however, that in lieu of the
foregoing the Board may make such other provision as it may consider equitable
to the Director and in the best interests of the Company. Notwithstanding the
foregoing, in the event of a change in control of the Company (as defined in a
vote of the Compensation Committee adopted May 29, 2002), this Restrictive
Stock Unit shall become vested as to all shares without regard to any deferred vesting
schedule or deferred vesting period.

6.  Limitation of Rights.  Neither the Plan, nor the
granting of this Restrictive Stock Unit or any other action taken pursuant to
the Plan, shall constitute an agreement or understanding, express or implied,
that the Company will retain a Restrictive Stock Unit holder as a Director for
any period of time or at any particular rate of compensation.  A  Director shall have no rights as a stockholder with respect to the
shares covered by this Restrictive Stock Unit until the date the Restrictive
Stock Unit vests and shares of Stock are issued to the Director.

7.  Compliance with Securities Laws.  It shall be a condition to the
Director’s right to receive shares of Stock hereunder that the Company may, in
its discretion, require (a) that the shares of Stock reserved for issue upon
the vesting of this Restrictive Stock Unit shall have been duly listed, upon
official notice of issuance, upon any national securities exchange or automated
quotation system on which the Company’s Stock may then be listed or quoted, (b)
that either (i) a registration statement under the Securities Act of 1933 with
respect to the shares shall be in effect, or (ii) in the opinion of counsel for
the Company, the proposed grant shall be exempt from registration under that
Act and the Director shall have made such undertakings and agreements with the
Company as the Company may reasonable require, and (c) that such other steps,
if any, as counsel for the Company shall consider necessary to comply with any
law applicable to the issue of such shares by the Company shall have been taken
by the Company or the Director, or both. 
The certificates representing the shares to be granted under this Restrictive
Stock Unit may contain such legends as counsel for the Company shall consider
necessary to comply with any applicable law.

8.  Acceptance.  Failure of the participant to accept the
terms and conditions of this Restrictive Stock Unit can result in adverse
consequences to the participant, including cancellation of the Restricted Stock
Unit

    ACKNOWLEDGED
AND AGREED:

	
  

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Signature

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name (Print)

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Date

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