Document:

Exhibit 10.1(d)

 

RELIANT
PHARMACEUTICALS, INC.

 

2004 EQUITY
INCENTIVE PLAN

 

STOCK
OPTION AGREEMENT - DIRECTORS

 

Unless otherwise defined herein, capitalized terms
shall have the same meanings as set forth in the Reliant Pharmaceuticals, Inc.
2004 Equity Incentive Plan (the “Plan”).

 

NOTICE OF OPTION GRANT

 

Name

 

You (“Participant”)
have been granted an option to purchase Common Stock (the “Shares”) in the Company, subject to the
terms and conditions of the Plan and this Option Agreement. The terms of your grant
are set forth below:

 

	
  Date of Grant:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Exercise Price per Share:

  	
   

  	
  $

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Shares Granted:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Total Exercise Price:

  	
   

  	
  $

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Type of Option:

  	
   

  	
  Nonqualified Stock Option

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Expiration Date:

  	
   

  	
   

  	
   

  

 

Exercise:

 

This Option is exercisable and vested in full on the
Date of Grant.

 

Termination Period:

 

This Option may be exercised for thirty (30) days
after Participant terminates service as an Employee, Consultant or Director of
the Company and all of its Subsidiaries, or such longer period as may be
applicable upon the death or Disability as provided herein, but in no event
later than the Expiration Date as provided above.

 

I.       AGREEMENT  

 

1. Grant of Option. The Company hereby grants
to the Participant an Option to purchase the number of Shares set forth in the
Notice of Grant, at the exercise price set forth in the Notice of Grant (the “Exercise Price”). Notwithstanding anything
to the contrary anywhere else in this Option Agreement, this grant of an Option
is subject to the terms, definitions and provisions of the Plan, which are
incorporated herein by reference.

 

 

2. Exercise of Option. This Option is
exercisable as follows:

 

(a)
Right to Exercise.

 

(i)
This Option shall be exercisable in full at anytime following the Grant Date.

 

(ii)
This Option may not be exercised for a fraction of a Share.

 

(iii)
In the event of Participant’s death, disability or other termination of the
Participant’s service to the Company and all Subsidiaries as an Employee,
Consultant or Director, the exercisability of the Option is governed by Section
5 below.

 

(iv)
In no event may this Option be exercised after the Expiration Date as set forth
in the Notice of Grant.

 

(b)
Method of Exercise. This Option shall be exercisable by delivery of an
executed Exercise Notice (in the form attached as Exhibit A). The
Exercise Notice must state the number of Shares for which the Option is being
exercised, and such other representations and agreements with respect to such
shares of Common Stock as may be required by the Company pursuant to the
provisions of the Plan. The Exercise Notice must be signed by the Participant
and shall be delivered in person or by certified mail to the Secretary of the
Company. The Exercise Notice must be accompanied by payment of the Exercise
Price, including payment of any applicable withholding tax. This Option shall
be deemed to be exercised upon receipt by the Company of such written Exercise
Notice accompanied by the Exercise Price and payment of any applicable
withholding tax.

 

(c)
Compliance with Applicable Law. No Shares shall be issued pursuant to
the exercise of an Option unless such issuance and such exercise comply with
all relevant provisions of law and the requirements of any stock exchange upon
which the Shares may then be listed. Assuming such compliance, for income tax
purposes the Shares shall be considered transferred to the Participant on the
date on which the Option is exercised with respect to such Shares. However, for
purposes of voting or rights to receive dividends, the Shares will not be
considered issued to the Participant until the Participant is listed on the
books and records of the Company as the holder of such Shares.

 

3. Participant’s Representations. If the
Shares purchasable pursuant to the exercise of this Option have not been
registered under the Securities Act of 1933, as amended (the “Securities Act”), at the time this Option
is exercised, Participant shall concurrently with the exercise of all or any
portion of this Option, deliver to the Company his or her Investment
Representation Statement in the form attached hereto as Exhibit B.

 

4. Method of Payment. Payment of the Exercise
Price shall be by any of the following, or a combination thereof, at the
election of the Participant:

 

(a)
cash;

(b)
check;

 

2

 

(c)
with the consent of the Committee, surrender of other shares of Common Stock of
the Company which (A) in the case of Shares acquired from the Company, have
been owned by the Participant for more than six (6) months on the date of
surrender, and (B) have a Fair Market Value on the date of surrender equal to
the Exercise Price of the Shares as to which the Option is being exercised;

 

(d)
with the consent of the Committee, surrendered Shares issuable upon the
exercise of the Option having a Fair Market Value on the date of exercise equal
to the aggregate Exercise Price of the Option or exercised portion thereof;

 

(e)
with the consent of the Committee, delivery of a notice that the Participant
has placed a market sell order with a broker with respect to Shares then
issuable upon exercise of the Option and that the broker has been directed to
pay a sufficient portion of the net proceeds of the sale to the Company in
satisfaction of the aggregate Exercise Price; provided, that payment of such
proceeds is then made to the Company upon settlement of such sale; or

 

(f)
with the consent of the Committee, property of any kind which constitutes good
and valuable consideration.

 

5. Term of Option. This Option shall terminate
on the date Participant ceases to provide services to the Company and its
Subsidiaries for Cause. Except as provided in this Section 5, this Option may
be exercised only within the term set out in the Notice of Grant.

 

(a)
Termination of Relationship. If Participant ceases to provide services
to the Company and its Subsidiaries other than for Cause or by reason of the
Participant’s death or Disability, Participant may exercise this Option during
the Termination Period set out in the Notice of Grant.

 

(b)
Death or Disability of Participant. If Participant ceases to provide
services to the Company and its Subsidiaries as a result of death or
Disability, the Option, shall be exercisable at any time within twelve (12)
months from such date, but in no event later than the Expiration Date as set
forth in the Notice of Grant.

 

6. Restrictions on Shares. Participant hereby
agrees that Shares purchased upon the exercise of the Option shall be subject
to such terms and conditions as the Committee shall determine in its sole
discretion, including, without limitation, restrictions on the transferability
of Shares, the right of the Company to repurchase Shares, and a right of first
refusal in favor of the Company with respect to permitted transfers of Shares.
Such terms and conditions may, in the Committee’s sole discretion, be contained
in the Exercise Notice with respect to the Option or in such other agreement as
the Committee shall determine and which the Participant hereby agrees to enter
into at the request of the Company.

 

7. Non-Transferability of Option. This Option
may not be transferred in any manner except by will or by the laws of descent
or distribution. It may be exercised during the lifetime of Participant only by
Participant. Notwithstanding the foregoing this Option may be transferred to
the Participant’s Immediate Family; provided, however, that any such transfer
is without payment of any consideration whatsoever, that no such transfer shall
be valid unless first approved by the Committee, acting in its sole discretion,
and that any Option so transferred shall

 

3

 

remain
subject to the terms and conditions of this Option agreement. The terms of this
Option shall be binding upon the executors, heirs, successors and assigns of
the Participant. For this purpose “Immediate
Family” shall mean Participant’s spouse, former spouse, children,
step-children, grandchildren, siblings, parents, step-parents, nieces, nephews,
mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law,
sister-in-law, including adoptive relationships, and any person sharing the
Participant’s household (other than as a tenant, guest or employee), or trusts
in which any of the foregoing have more than a fifty percent interest, foundations
in which the foregoing (or the Participant) control the management of assets or
any other entity in which the foregoing persons (or the Participant) own more
than fifty percent of the voting interests.

 

[SIGNATURE PAGE FOLLOWS]

 

4

 

This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original and all of which shall
constitute one document.

 

	
   

  	
  RELIANT PHARMACEUTICALS, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  

 

PARTICIPANT ACKNOWLEDGES AND
AGREES THAT THE OPTION HEREIN GRANTED CONTINUES TO BE EXERCISABLE ONLY FOR
PERIODS DETERMINED WITH REFERENCE TO THE PERIOD OF CONTINUED CONSULTANCY OR
EMPLOYMENT AT THE WILL OF THE COMPANY (NOT THROUGH THE ACT OF BEING HIRED,
BEING GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER). PARTICIPANT FURTHER
ACKNOWLEDGES AND AGREES THAT NOTHING IN THIS AGREEMENT, NOR IN THE COMPANY’S
2004 EQUITY INCENTIVE PLAN WHICH IS INCORPORATED HEREIN BY REFERENCE, SHALL
CONFER UPON PARTICIPANT ANY RIGHT WITH RESPECT TO CONTINUATION OF EMPLOYMENT OR
CONSULTANCY BY THE COMPANY, NOR SHALL IT INTERFERE IN ANY WAY WITH PARTICIPANT’S
RIGHT OR THE COMPANY’S RIGHT TO TERMINATE PARTICIPANT’S EMPLOYMENT OR
CONSULTANCY AT ANY TIME, WITH OR WITHOUT CAUSE OR NOTICE.

 

Participant acknowledges receipt of a copy of the
Plan and represents that he is familiar with the terms and provisions thereof.
Participant hereby accepts this Option subject to all of the terms and
provisions thereof. Participant has reviewed the Plan, and this Option in their
entirety, has had an opportunity to obtain the advice of counsel prior to
executing this Option and fully understands all provisions of the Option.
Participant hereby agrees to accept as binding, conclusive and final all
decisions or interpretations of the Committee upon any questions arising under
the Plan or this Option. Participant further agrees to notify the Company upon
any change in the residence address indicated below.

 

	
  Dated:

  	
   

  	
   

  	
   

  
	
   

  	
  Residence
  Address:

  
	
   

  	
   

  
	
   

  	
   

  

 

5

 

EXHIBIT A 

 

RELIANT
PHARMACEUTICALS, INC.

 

2004 EQUITY
INCENTIVE PLAN

 

EXERCISE
NOTICE

 

Reliant
Pharmaceuticals, Inc.

110
Allen Road

Liberty
Corner, New Jersey 07938

 

Attention:
Secretary

 

1. Exercise of Option. Effective as of today,
                    ,         ,
the undersigned (“Participant”)
hereby elects to exercise Participant’s option to purchase        shares
of Common Stock (the “Shares”) of
Reliant Pharmaceuticals, Inc. (the “Company”)
under and pursuant to the Reliant Pharmaceuticals, Inc. 2004 Equity Incentive
Plan (the “Plan”) and the Option
Agreement dated                             ,
        , (the “Option Agreement”).

 

2. Representations of Participant.
Participant, without further action on his or her part, by purchase of the
Shares agrees to be deemed a party to, a signatory of and bound by the
Stockholders’ Agreement dated April 1, 2004 (the “Stockholders’ Agreement”), and the Shares shall be subject to
such rights and restrictions as contained therein. Participant acknowledges
that he or she has received, read and understood the Plan, the Option
Agreement, the Stockholders’ Agreement, and this Exercise Notice and is
familiar with their terms and provisions. Participant hereby agrees to accept
as binding, conclusive and final all decisions or interpretations of the
Committee upon any questions arising under this Agreement.

 

3. Rights and Obligations as a Stockholder.
Until the stock certificate evidencing such Shares is issued (as evidenced by
the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company), no right to vote or receive dividends or any
other rights as a stockholder shall exist with respect to Shares subject to the
Option, notwithstanding the exercise of the Option. The Company shall issue (or
cause to be issued) such stock certificate promptly after the Option is
exercised. No adjustment will be made for a dividend or other right for which
the record date is prior to the date the stock certificate is issued.

 

Participant
shall enjoy rights as a stockholder until such time as Participant disposes of
the Shares or the Company and/or its assignee(s) exercises the Right of First
Refusal hereunder. Upon such exercise, Participant shall have no further rights
as a holder of the Shares so purchased except the right to receive payment for
the Shares so purchased in accordance with the provisions of this Agreement,
and Participant shall forthwith cause the certificate(s) evidencing the Shares
so purchased to be surrendered to the Company for transfer or cancellation.

 

 

4. Participant’s Rights to Transfer Shares.

 

(a)
Limitations on Transfer. Participant may transfer Shares subject to the
restrictions contained in this Section 4 and the Stockholders’ Agreement;
provided that prior to a Public Offering (as defined in Section 4(d)) no Shares
may be transferred (i) to a direct competitor of the Company as determined by
the Board, or (ii) for consideration other than cost.

 

(b)
Company’s Right of First Refusal. Before any Shares held by Participant
or any permitted transferee (each, a “Holder”)
may be sold, pledged, assigned, hypothecated, transferred or otherwise disposed
of (including transfer by gift or operation of law, collectively a “Transfer” or “Transferred”), the Company or its assignee(s) shall have a
right of first refusal to purchase the Shares on the terms and conditions set
forth in this Section 4 (the “Right of First
Refusal”).

 

(i)
Notice of Proposed Transfer. The Holder of the Shares shall deliver to
the Company a written notice (the “Notice”)
stating: (i) the Holder’s bona fide intention to sell or otherwise Transfer
such Shares; (ii) the name of each proposed Participant or other transferee (“Proposed Transferee”); (iii) the number of
Shares to be Transferred to each Proposed Transferee; and (iv) the bona fide
cash price for which the Holder proposes to Transfer the Shares (the “Offered Price”), and the Holder shall offer
the Shares at the Offered Price to the Company or its assignee(s).

 

(ii)
Exercise of Right of First Refusal. Within thirty (30) days after
receipt of the Notice, the Company and/or its assignee(s) may elect in writing
to purchase all, but not less than all, of the Shares proposed to be
Transferred to any one or more of the Proposed Transferees. The purchase price
will be determined in accordance with subsection (iii) below.

 

(iii)
Purchase Price. The purchase price (“Purchase
Price”) for the Shares repurchased under this Section shall be the
Offered Price. If the Offered Price includes consideration other than cash, the
cash equivalent value of the non-cash consideration will be determined by the
Committee in good faith.

 

(iv)
Payment. Payment of the Purchase Price shall be made, at the option of
the Company or its assignee(s), in cash (by check), by cancellation of all or a
portion of any outstanding indebtedness of the Holder to the Company (or, in
the case of repurchase by an assignee, to the assignee), or by any combination
thereof within thirty (30) days after receipt of the Notice or in the manner
and at the times set forth in the Notice.

 

(v)
Holder’s Right to Transfer. If all of the Shares proposed in the Notice
to be transferred to a given Proposed Transferee are not purchased by the
Company and/or its assignee(s) as provided in this Section, then subject to any
rights of first refusal or other restrictions on transfer contained in the
Stockholders’ Agreement, the Holder may sell or otherwise Transfer such Shares
to that Proposed Transferee at the Offered Price or at a higher price, provided
that such sale or other Transfer is consummated within one hundred twenty (120)
days after the date of the Notice and provided further that any such sale or
other Transfer is effected in accordance with any applicable securities laws
and the Proposed Transferee agrees in writing to the provisions of this Section
and shall continue to apply to the Shares in the hands of

 

2

 

such Proposed Transferee. If
the Shares described in the Notice are not Transferred to the Proposed
Transferee within such period, a new Notice shall be given to the Company, and
the Company and/or its assignees shall again be offered the Right of First
Refusal as provided herein before any Shares held by the Holder may be sold or
otherwise Transferred. The Company’s Right of First Refusal as contained herein
shall be in addition to and arise prior to any rights of first refusal
contained in the Stockholders’ Agreement.

 

(c)
Exception for Certain Family Transfers. Anything to the contrary
contained in this Section notwithstanding, the Transfer of any or all of the
Shares during the Participant’s lifetime or on the Participant’s death by will
or intestacy to the Participant’s Immediate Family (as defined in the Option Agreement)
shall be exempt from the Right of First Refusal. In such case, the transferee
or other recipient shall receive and hold the Shares so Transferred subject to
the provisions of this Section 4, Section 5, and the Stockholders’ Agreement,
as applicable, and there shall be no further Transfer of such Shares except in
accordance with the terms of this Section.

 

(d)
Termination of Right of First Refusal. The Right of First Refusal and
the restrictions on transfer set forth in Section 4(a) shall terminate as to
all Shares ninety (90) days after a sale of Common Stock to the general public
pursuant to a registration statement filed with and declared effective by the
Securities and Exchange Commission under the Securities Exchange Act of 1934,
as amended (a “Public Offering”).

 

5. Company Call Right.

 

(a)
If Participant ceases to provide services to the Company and its Subsidiaries
for any reason, the Company shall have the right to purchase any or all of the
Shares then held by a Holder at a price equal to the Fair Market Value (as
defined in the Plan) of the Shares on the date on which the Participant ceases
to provide such services (the “Call Right”).

 

(b)
The Company may exercise the Company Call Right by delivering personally or by
registered mail to Holder, within ninety (90) days of the date on which
Participant ceases to provide services to the Company and its Subsidiaries, a
notice in writing indicating the Company’s intention to exercise the Company
Call Right and setting forth a date for closing not later than thirty (30) days
from the mailing of such notice. The closing shall take place at the Company’s
office.

 

(c)
At its option, the Company may elect to make payment for the Shares to a bank
selected by the Company. The Company shall avail itself of this option by a
notice in writing to Holder stating the name and address of the bank, date of
closing, and waiving the closing at the Company’s office.

 

(d)
If the Company does not elect to exercise the Company Call Right conferred
above by giving the requisite notice within ninety (90) days following the date
on which Participant ceases to provide services to the Company and its
Subsidiaries, the Company Call Right shall terminate.

 

(e)
The Company Call Right shall terminate as to all Shares ninety (90) days after
a Public Offering.

 

3

 

6. Lock-Up Period. Participant hereby agrees
that if so requested by the Company (or any successor thereto) or any
representative of the underwriters (the “Managing
Underwriter”) in connection with any registration of the offering of
any securities of the Company under the Securities Act, Participant shall not
sell or otherwise transfer any Shares or other securities of the Company during
the 180-day period (or such longer period as may be requested in writing by the
Managing Underwriter and agreed to in writing by the Company) (the “Market Standoff Period”) following the
effective date of a registration statement of the Company filed under the
Securities Act; provided, however,
that such restriction shall apply only to the first registration statement of
the Company to become effective under the Securities Act that includes
securities to be sold on behalf of the Company to the public in an underwritten
public offering under the Securities Act. The Company may impose stop-transfer
instructions with respect to securities subject to the foregoing restrictions
until the end of such Market Standoff Period.

 

7. Spousal Consent. As a further condition to
the Company’s and Participant’s obligations under this Agreement, the spouse of
the Participant, if any, shall execute and deliver to the Company the Consent
of Spouse attached hereto as Exhibit C.

 

8. Restrictive Legends and Stop-Transfer Orders.

 

(a)
Legends. Participant understands and agrees that the Company shall cause
the legends set forth below or legends substantially equivalent thereto, to be
placed upon any certificate(s) evidencing ownership of the Shares together with
any other legends that may be required by state or federal securities laws:

 

THE SECURITIES REPRESENTED
HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”)
AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED
UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF COUNSEL IN FORM
AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE
OR TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE THEREWITH.

 

THE SHARES REPRESENTED BY
THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND RIGHT OF
FIRST REFUSAL OPTIONS HELD BY THE ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN THE
EXERCISE NOTICE AND THE STOCKHOLDERS AGREEMENT DATED APRIL 1, 2004, AS AMENDED
FROM TIME TO TIME BY AND BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES,
A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH
TRANSFER RESTRICTIONS AND RIGHT OF FIRST REFUSAL ARE BINDING ON TRANSFEREES OF
THESE SHARES.

 

4

 

(b)
Stop-Transfer Notices. Participant agrees that, in order to ensure
compliance with the restrictions referred to herein, the Company may issue
appropriate “stop transfer” instructions to its transfer agent, if any, and
that, if the Company transfers its own securities, it may make appropriate
notations to the same effect in its own records.

 

(c)
Refusal to Transfer. The Company shall not be required (i) to transfer
on its books any Shares that have been sold or otherwise transferred in
violation of any of the provisions of the Stockholders Agreement or (ii) to
treat as owner of such Shares or to accord the right to vote or pay dividends
to any purchaser or other transferee to whom such Shares shall have been so
transferred.

 

9. Successors and Assigns. The Company may
assign any of its rights under this Agreement to single or multiple assignees,
and this Agreement shall inure to the benefit of the successors and assigns of
the Company. Subject to the restrictions on transfer herein set forth, this
Agreement shall be binding upon Participant and his or her heirs, executors,
successors, and assigns.

 

10. Interpretation. Any dispute regarding the
interpretation of this Agreement shall be submitted by Participant or by the
Company forthwith to the Company’s Board of Directors or committee thereof that
is responsible for the administration of the Plan (the “Committee”), which shall review such
dispute at its next regular meeting. The resolution of such a dispute by the
Committee shall be final and binding on the Company and on any Holder.

 

11. Governing Law; Severability. This
Agreement shall be governed by and construed in accordance with the laws of the
State of Delaware excluding that body of law pertaining to conflicts of law.
Should any provision of this Agreement be determined by a court of law to be
illegal or unenforceable, the other provisions shall nevertheless remain
effective and shall remain enforceable.

 

12. Notices. Any notice required or permitted
hereunder shall be given in writing and shall be deemed effectively given upon
personal delivery or upon deposit in the United States mail by certified mail,
with postage and fees prepaid, addressed to the other party at its address as
shown below beneath its signature, or to such other address as such party may
designate in writing from time to time to the other party. Participant further
agrees to notify the Company upon any change in the residence address indicated
below.

 

13. Further Instruments. The parties agree to
execute such further instruments and to take such further action as may be
reasonably necessary to carry out the purposes and intent of this Agreement.

 

14. Delivery of Payment. Participant herewith
delivers to the Company the full Exercise Price for the Shares, as well as any
applicable withholding tax.

 

5

 

15. Entire Agreement. The Plan, Option
Agreement and Stockholders’ Agreement are incorporated herein by reference.
This Agreement, the Plan, the Option Agreement, and the Investment
Representation Statement, if applicable, constitute the entire agreement of the
parties and supersede in their entirety all prior undertakings and agreements
of the Company and Participant with respect to the subject matter hereof.

 

	
  Submitted
  by:

  	
   

  	
  Accepted
  by:

  
	
   

  	
   

  	
   

  
	
  PARTICIPANT:

  	
   

  	
  RELIANT PHARMACEUTICALS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Address:

  	
  Its:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
						

 

6

 

EXHIBIT B 

 

INVESTMENT
REPRESENTATION STATEMENT

 

	
  PARTICIPANT

  	
  :

  	
   

  
	
   

  	
   

  	
   

  
	
  COMPANY

  	
  :

  	
  RELIANT
  PHARMACEUTICALS, INC.

  
	
   

  	
   

  	
   

  
	
  SECURITY

  	
  :

  	
  COMMON
  STOCK

  
	
   

  	
   

  	
   

  
	
  AMOUNT

  	
  :

  	
   

  
	
   

  	
   

  	
   

  
	
  DATE

  	
  :

  	
   

  

 

In connection with the purchase of the above-listed
Securities, the undersigned Participant represents to the Company the
following:

 

(a) Participant is aware of the Company’s business
affairs and financial condition and has acquired sufficient information about
the Company to reach an informed and knowledgeable decision to acquire the
Securities. Participant is acquiring these Securities for investment for
Participant’s own account only and not with a view to, or for resale in connection
with, any “distribution” thereof
within the meaning of the Securities Act of 1933, as amended (the “Securities Act”).

 

(b) Participant acknowledges and understands that
the Securities constitute “restricted
securities” under the Securities Act and have not been registered
under the Securities Act in reliance upon a specific exemption therefrom, which
exemption depends upon, among other things, the bona fide nature of Participant’s
investment intent as expressed herein. In this connection, Participant
understands that, in the view of the Securities and Exchange Commission, the
statutory basis for such exemption may be unavailable if Participant’s
representation was predicated solely upon a present intention to hold these
Securities for the minimum capital gains period specified under tax statutes,
for a deferred sale, for or until an increase or decrease in the market price
of the Securities, or for a period of one year or any other fixed period in the
future. Participant further understands that the Securities must be held
indefinitely unless they are subsequently registered under the Securities Act
or an exemption from such registration is available. Participant further
acknowledges and understands that the Company is under no obligation to register
the Securities.

 

(c) Participant is familiar with the provisions of
Rule 701 and Rule 144, each promulgated under the Securities Act, which, in
substance, permit limited public resale of “restricted
securities” acquired, directly or indirectly from the issuer
thereof, in a non-public offering (or held by any affiliate of the issuer),
subject to the satisfaction of certain conditions. Rule 701 provides that if
the issuer qualifies under Rule 701 at the time of the grant of the Option to
the Participant, the exercise will be exempt from registration under the
Securities Act. In the event the Company becomes subject to the reporting
requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934,
ninety (90) days thereafter (or such longer period as any

 

 

market
stand-off agreement may require) the Securities exempt under Rule 701 may be
resold, subject to the satisfaction of certain of the conditions specified by
Rule 144, including: (1) the resale being made through a broker in an
unsolicited “broker’s transaction”
or in transactions directly with a market maker (as said term is defined under
the Securities Exchange Act of 1934); and, in the case of an affiliate, (2) the
availability of certain public information about the Company, (3) the amount of
Securities being sold during any three (3) month period not exceeding the
limitations specified in Rule 144(e), and (4) the timely filing of a Form 144,
if applicable.

 

In the event that the Company does not qualify under
Rule 701 at the time of grant of the Option, then the Securities may be resold
in certain limited circumstances subject to the provisions of Rule 144, which
requires the resale to occur not less than one year after the later of the date
the Securities were sold by the Company or the date the Securities were sold by
an affiliate of the Company, within the meaning of Rule 144; and, in the case
of acquisition of the Securities by an affiliate, or by a non-affiliate who
subsequently holds the Securities less than two (2) years, the satisfaction of
the conditions set forth in sections (1), (2), (3) and (4) of the paragraph
immediately above.

 

(d) Participant further understands that in the
event all of the applicable requirements of Rule 701 or 144 are not satisfied,
registration under the Securities Act, compliance with Regulation A, or some
other registration exemption will be required; and that, notwithstanding the
fact that Rules 144 and 701 are not exclusive, the Staff of the Securities and
Exchange Commission has expressed its opinion that persons proposing to sell
private placement securities other than in a registered offering and otherwise
than pursuant to Rules 144 or 701 will have a substantial burden of proof in
establishing that an exemption from registration is available for such offers
or sales, and that such persons and their respective brokers who participate in
such transactions do so at their own risk. Participant understands that no
assurances can be given that any such other registration exemption will be
available in such event.

 

	
   

  	
  Signature
  of Participant:

  
	
   

  	
   

  
	
   

  	
   

  	
   

  

 

Date:
                                        
            , 

 

2

 

EXHIBIT C 

 

CONSENT OF
SPOUSE

 

I,                                         ,
spouse of                                         
have read and approve the foregoing Exercise Notice. In consideration of
granting of the right to my spouse to purchase Common Stock of Reliant
Pharmaceuticals, Inc. as set forth in the Exercise Notice, I hereby appoint my
spouse as my attorney-in-fact in respect to the exercise of any rights under
the Exercise Notice and agree to be bound by the provisions of the Exercise
Notice insofar as I may have any rights in said Exercise Notice or any shares
issued pursuant thereto under the community property laws or similar laws
relating to marital property in effect in the state of our residence as of the
date of the signing of the foregoing Exercise Notice.

 

Dated:
                                        
            ,EXHIBIT 10.1(e)

 

RELIANT PHARMACEUTICALS, INC.

 

2004 EQUITY INCENTIVE PLAN

 

RESTRICTED STOCK AGREEMENT

 

Unless
otherwise specified herein, all capitalized terms shall have the same meanings
as set forth in the Reliant Pharmaceuticals, Inc. 2004 Equity Incentive
Plan (the “Plan”).

 

I.                                         NOTICE OF GRANT

 

[Name]

 

You (“Participant”) are hereby granted Common Stock (the “Shares”) in the Company, subject to the
terms and conditions of the Plan and this Restricted Stock Agreement. The terms
of your grant are set forth below:

 

Date of Grant:

 

Vesting Commencement Date:

 

Shares Granted:

 

Vesting
Schedule:

 

The
Shares shall vest and be transferable, according to the following schedule:

 

Twenty-five
percent (25%) of the Shares (rounded down to the next whole Share) shall vest
on each anniversary of the Vesting Commencement Date, so that all of the Shares
shall be vested on the fourth anniversary of the Vesting Commencement Date.
Participant shall vest in the Shares only for so long as he/she continues to
provide services to the Company and its Subsidiaries as an Employee, Consultant
or Director. If the Participant ceases to provide services to the Company in
such capacity, then any Shares which are not yet vested shall be forfeited and
the Participant shall have no further interest therein.

 

Notwithstanding
the foregoing, the Participant shall be fully in all of the Shares upon a
Change of Control.

 

AGREEMENT

 

1.                                       Grant
of Restricted Units. The Company hereby grants to the Participant the
number of Shares set forth in the Notice of Grant, subject to the delivery of
the Participant of the Investment Representation Statement set forth on Exhibit A.
Additionally, Participant, without further action on his or her part, by
execution of this Restricted Stock Agreement agrees to be deemed a party to, a
signatory of and bound by the Stockholders’ Agreement dated April 1, 2004,
as amended (the “Stockholders’ Agreement”),
and the Shares shall be subject to such rights and restrictions as contained
therein. Notwithstanding anything to the contrary anywhere else in this
Restricted Stock Agreement, this grant of the Shares is subject to the terms, 

 

 

definitions and provisions of the Plan and the Stockholders’ Agreement
which are incorporated herein by reference.

 

2.                                       Vesting.
Participant shall vest in the Shares as set forth in the Notice of Grant. For
purposes of this Restricted Stock Agreement, the Shares shall vest based upon
Participant’s continued performance of services to the Company and its
Subsidiaries as an Employee, Consultant or Director. Upon termination of
Participant’s service as an Employee, Consultant or Director of the Company or
any of its Subsidiaries, the unvested portion of the Shares (“Unvested Shares”) shall be forfeited to the Company and
cancelled without any payment thereon. The vested portion of the Shares (“Vested Shares”) shall no longer be subject to forfeiture,
but shall be subject to the Rights of First Refusal and Call Rights as set
forth in Sections 4 and 5 below.

 

3.                                       Rights
and Obligations as a Stockholder. The Company will evidence by book entry
Participant’s ownership of the Shares. Participant shall enjoy rights as a
stockholder until such time as Participant disposes of the Shares or the
Company and/or its assignee(s) exercises the Right of First Refusal or Call
Rights hereunder. Upon such exercise, Participant shall have no further rights
as a holder of the Shares so purchased except the right to receive payment for
the Shares so purchased in accordance with the provisions of this Restricted
Stock Agreement, and Participant shall forthwith take all action necessary to
surrender to the Company for transfer or cancellation the Shares so purchased
or cancelled. This Agreement shall not affect in any way the ownership, voting
rights or other rights or duties of Participant, except as specifically
provided herein.

 

4.                                       Participant’s
Rights to Transfer Units.

 

(a)                                  Limitations
on Transfer. Unvested Shares may not be sold, pledged, assigned,
hypothecated, transferred, or disposed of in any manner; provided, however,
that Unvested Shares may with the consent of the Administrator be
transferred to the Participant’s Immediate Family, so long as such transfer is
without receipt of any consideration therefore, and that any Unvested Shares so
transferred shall remain subject to the terms and conditions of this Agreement.
Participant may transfer Vested Shares, subject to the restrictions
contained in this Section 4 and the Stockholders’ Agreement; provided
however no Vested Shares may be transferred (i) to a direct competitor
of the Company as determined by the Board or (ii) for consideration other
than cash. For this purpose “Immediate Family”
shall mean Participant’s spouse, former spouse, children, step-children,
grandchildren, siblings, parents, step-parents, nieces, nephews, mother-in-law,
father-in-law, son-in-law, daughter-in-law, brother-in-law, sister-in-law,
including adoptive relationships, and any person sharing the Participant’s
household (other than as a tenant, guest or employee), or trusts in which any
of the foregoing have more than a fifty percent interest, foundations in which
the foregoing (or the Participant) control the management of assets or any
other entity in which the foregoing persons (or the Participant) own more than
fifty percent of the voting interests

 

(b)                                 Company’s
Right of First Refusal. Before any Vested Shares held by Participant or any
permitted transferee (each, a “Holder”) may be
sold , pledged, assigned, hypothecated, transferred or otherwise disposed of
(including transfer by gift or operation of law, collectively a “Transfer” or “Transferred”),
the Company or its assignee(s) shall have a right 

 

2

 

of first refusal to purchase the Vested Shares on the terms and
conditions set forth in this Section 4(b) (the “Right of
First Refusal”).

 

(i)                                     Notice
of Proposed Transfer. The Holder of the Vested Shares shall deliver to the
Company a written notice (the “Notice”)
stating:  (i) the Holder’s bona fide
intention to sell or otherwise Transfer such Vested Shares; (ii) the name
of each proposed transferee (“Proposed Transferee”);
(iii) the Vested Shares to be Transferred to each Proposed Transferee; and
(iv) the bona fide cash price for which the Holder proposes to Transfer
the Vested Shares (the “Offered Price”),
and the Holder shall offer the Vested Shares at the Offered Price to the
Company or its assignee(s).

 

(ii)                                  Exercise
of Right of First Refusal. Within thirty (30) days after receipt of the
Notice, the Company and/or its assignee(s) may elect in writing to
purchase all, but not less than all, of the Vested Shares proposed to be
Transferred to any one or more of the Proposed Transferees. The purchase price
will be determined in accordance with subsection (iii) below.

 

(iii)                               Purchase Price. The
purchase price (“Purchase Price”) for the Vested
Shares repurchased under this Section shall be the Offered Price.

 

(iv)                              Payment.
Payment of the Purchase Price shall be made, at the option of the Company or
its assignee(s), in cash (by check), by cancellation of all or a portion of any
outstanding indebtedness of the Holder to the Company (or, in the case of
repurchase by an assignee, to the assignee), or by any combination thereof
within thirty (30) days after receipt of the Notice or in the manner and at the
times set forth in the Notice.

 

(v)                                 Holder’s
Right to Transfer. If all of the Vested Shares proposed in the Notice to be
transferred to a given Proposed Transferee are not purchased by the Company
and/or its assignee(s) as provided in this Section, then subject to any rights
of first refusal and other restrictions on transfer contained in the
Stockholders’ Agreement, if any, the Holder may sell or otherwise Transfer
such Vested Shares to that Proposed Transferee at the Offered Price or at a
higher price, provided that such sale or other Transfer is consummated within
one hundred twenty (120) days after the date of the Notice and provided further
that any such sale or other Transfer is effected in accordance with any
applicable securities laws and the Proposed Transferee agrees in writing that
the provisions of this Section, as applicable, shall continue to apply to the
Vested Shares in the hands of such Proposed Transferee. If the Vested Shares
described in the Notice are not Transferred to the Proposed Transferee within
such period, a new Notice shall be given to the Company, and the Company and/or
its assignees shall again be offered the Right of First Refusal as provided
herein before any Vested Shares held by the Holder may be sold or
otherwise Transferred. The Company’s Right of First Refusal as contained herein
shall be in addition to and arise prior to any rights of first refusal
contained in the Stockholders’ Agreement.

 

(c)                                  Exception
for Certain Family Transfers. Anything to the contrary contained in this Section notwithstanding,
the Transfer of any or all of the Vested Shares during the Participant’s
lifetime or on the Participant’s death by will or intestacy to the Participant’s
Immediate Family shall be exempt from the Right of First Refusal. In such case,
the transferee 

 

3

 

or other recipient shall receive and hold the Restricted Units so
Transferred subject to the provisions of this Section, Section 5 and the
Stockholders’ Agreement, as applicable, and there shall be no further Transfer
of such Vested Shares except in accordance with the terms of this Section.

 

(d)                                 Termination
of Right of First Refusal. The Right of First Refusal shall terminate as to
all Vested Shares ninety (90) days after a sale of common stock of the Company
to the general public pursuant to a registration statement filed with and
declared effective by the Securities and Exchange Commission under the
Securities Act of 1933, as amended (a “Public Offering”).

 

5.                                       Company
Call Right.

 

(a)                                  If
Participant ceases to provide services to the Company and its Subsidiaries as
an Employee, Consultant or Director for any reason, the Company shall have the
right to purchase any or all of the Vested Shares then owned by the Holder at a
price equal to the Fair Market Value of the Vested Shares on the date on which
the Participant ceases to provide services (the “Call Right”).

 

(b)                                 The
Company may exercise the Company Call Right by delivering personally or by
registered mail to Holder within ninety (90) days of the date on which
Participant ceases to provide services to the Company and its Subsidiaries, a
notice in writing indicating the Company’s intention to exercise the Company
Call Right and setting forth a date for closing not later than thirty (30) days
from the mailing of such notice. The closing shall take place at the Company’s
office.

 

(c)                                  At
its option, the Company may elect to make payment for the Vested Shares to
a bank selected by the Company. The Company shall avail itself of this option
by a notice in writing to Holder stating the name and address of the bank, date
of closing, and waiving the closing at the Company’s office.

 

(d)                                 If
the Company does not elect to exercise the Company Call Right conferred above
by giving the requisite notice within ninety (90) days following the date on
which Participant ceases to be a Service Provider, the Company Call Right shall
terminate.

 

(e)                                  The
Company Call Right shall terminate as to all Vested Shares ninety (90) days
after a Public Offering.

 

6.                                       Lock-Up
Period. Participant hereby agrees that if so requested by the Company (any
successor thereto) or any representative of the underwriters (the “Managing Underwriter”) in connection with any registration
of the offering of any securities of the Company under the Securities Act of
1933, as amended (the “Securities Act”),
Participant shall not sell or otherwise transfer any Units (or any securities
of the Company in which such Units may be converted) or other securities
of the Company during the 180-day period (or such longer period as may be
requested in writing by the Managing Underwriter and agreed to in writing by
the Company) (the “Market Standoff Period”)
following the effective date of a registration statement of the Company filed
under the Securities Act; provided, however,
that such restriction shall apply only to the first registration statement of
the Company to become effective under the Securities Act 

 

4

 

that includes securities to be sold on behalf of the Company to the
public in an underwritten public offering under the Securities Act. The Company
may impose stop-transfer instructions with respect to securities subject
to the foregoing restrictions until the end of such Market Standoff Period.

 

7.                                       Refusal
to Transfer. The Company shall not be required (i) to transfer on its
books any Shares that have been sold or otherwise transferred in violation of
any of the provisions of this Agreement or the Stockholders’ Agreement or (ii) to
treat as owner of such Shares or to accord the right to vote or pay dividends
to any Participant or other transferee to whom such Shares shall have been so
transferred.

 

8.                                       Successors
and Assigns. The Company may assign any of its rights under this
Agreement to single or multiple assignees, and this Agreement shall inure to
the benefit of the successors and assigns of the Company. Subject to the
restrictions on transfer herein set forth, this Agreement shall be binding upon
Participant and his or her heirs, executors, administrators, successors and
assigns.

 

9.                                       Interpretation.                    Any dispute
regarding the interpretation of this Agreement shall be submitted by
Participant or by the Company forthwith to the Committee which shall review
such dispute at its next regular meeting. The resolution of such a dispute by
the Committee shall be final and binding on the Company and on Participant.

 

10.                                 Notices.
Any notice required or permitted hereunder shall be given in writing and shall
be deemed effectively given upon personal delivery or upon deposit in the
United States mail by certified mail, with postage and fees prepaid, addressed
to the other party at its address as shown below beneath its signature, or to
such other address as such party may designate in writing from time to
time to the other party. Participant further agrees to notify the Company upon
any change in the residence address indicated below.

 

11.                                 Further
Instruments. The parties agree to execute such further instruments and to
take such further action as may be reasonably necessary to carry out the
purposes and intent of this Restricted Stock Agreement.

 

12.                                 Entire
Agreement. The Plan and the Stockholders’ Agreement are incorporated herein
by reference. This Restricted Stock Agreement, the Plan, the Investment Representation
Statement and the Stockholders’ Agreement constitute the entire agreement of
the parties and supersede in their entirety all prior undertakings and
agreements of the Company and Participant with respect to the subject matter
hereof.

 

13.                                 Spousal Consent. As a further condition to the Company’s and
Participant’s obligations under this Restricted Stock Agreement, the spouse of
the Participant, if any, shall execute and deliver to the Company the Consent
of Spouse attached hereto as Exhibit B.

 

14.                                 Governing
Law. This Restricted Stock Agreement shall be governed by and construed in
accordance with the laws of the State of Delaware excluding that body of law
pertaining to conflicts of law. Should any provision of this Restricted Stock
Agreement be determined by a court of law to be illegal or unenforceable, the
other provisions shall nevertheless remain effective and shall remain
enforceable.

 

5

 

15.                                 Severability.
Should any provision of this Restricted Stock Agreement be determined by a
court of law to be illegal or unenforceable, the other provisions shall
nevertheless remain effective and shall remain enforceable.

 

16.                                 No
Right to Employment. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE
RESTRICTED UNITS HEREIN GRANTED CONTINUE TO VEST ONLY FOR PERIODS DETERMINED
WITH REFERENCE TO THE PERIOD OF CONTINUED CONSULTANCY OR EMPLOYMENT AT THE WILL
OF THE COMPANY (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED OR ACQUIRING
UNITS HEREUNDER). PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT NOTHING IN
THIS RESTRICTED STOCK AGREEMENT, NOR IN THE COMPANY’S 2004 EQUITY INCENTIVE
PLAN WHICH IS INCORPORATED HEREIN BY REFERENCE, SHALL CONFER UPON PARTICIPANT
ANY RIGHT WITH RESPECT TO CONTINUATION OF EMPLOYMENT OR CONSULTANCY BY THE
COMPANY, NOR SHALL IT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE
COMPANY’S RIGHT TO TERMINATE PARTICIPANT’S EMPLOYMENT OR CONSULTANCY AT ANY
TIME, WITH OR WITHOUT CAUSE OR NOTICE.

 

17.                                 Restrictive
Legends and Stop-Transfer Orders.

 

(a)                                  Legends.
Participant understands and agrees that the Company shall cause the legends set
forth below or legends substantially equivalent thereto, to be placed upon any
certificate(s) evidencing ownership of the Shares together with any other
legends that may be required by state or federal securities laws:

 

THE SECURITIES
REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933
(THE “ACT”) AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED
OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF
COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE
SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS IN
COMPLIANCE THEREWITH.

 

THE SHARES
REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON
TRANSFER. FORFEITURE, RIGHTS OF FIRST REFUSAL, AND CALL RIGHTS HELD BY THE
ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN THE EXERCISE NOTICE AND THE
STOCKHOLDERS AGREEMENT DATED APRIL 1, 2004, AS AMENDED FROM TIME TO TIME BY
AND BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH
MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH TRANSFER 

 

6

 

RESTRICTIONS AND
RIGHT OF FIRST REFUSAL ARE BINDING ON TRANSFEREES OF THESE SHARES.

 

(b)                                 Stop-Transfer
Notices. Participant agrees that, in order to ensure compliance with the
restrictions referred to herein, the Company may issue appropriate “stop
transfer” instructions to its transfer agent, if any, and that, if the Company
transfers its own securities, it may make appropriate notations
to the same effect in its own records.

 

(c)                                  Refusal
to Transfer. The Company shall not be required (i) to transfer on its
books any Shares that have been sold or otherwise transferred in violation of
any of the provisions of the Stockholders Agreement or (ii) to treat as
owner of such Shares or to accord the right to vote or pay dividends to any
purchaser or other transferee to whom such Shares shall have been so
transferred.

 

18.                                 Representations
of Participant. Participant acknowledges that he or she has received, read
and understood the Plan, the Stockholders’ Agreement, and this Restricted Stock
Agreement and is familiar with their terms and provisions. Participant hereby agrees
to accept as binding, conclusive and final all decisions or interpretations of
the Committee upon any questions arising under this Agreement.

 

[Signature Page to Follow]

 

7

 

IN
WITNESS WHEREOF, this Restricted Stock Agreement is deemed made as of the date
first set forth above.

 

	
   

  	
  RELIANT
  PHARMACEUTICALS, INC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Address:

  	
  110 Allen Road

  
	
   

  	
   

  	
  Liberty Corner, New Jersey 07938

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  PARTICIPANT

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Participant

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Address:

  	
   

  
								

 

8

 

EXHIBIT A

 

INVESTMENT REPRESENTATION STATEMENT

 

	
  PARTICIPANT:

  	
   

  
	
   

  	
   

  	
   

  
	
  COMPANY

  	
  :

  	
  RELIANT PHARMACEUTICALS, INC.

  
	
   

  	
   

  	
   

  
	
  SECURITY

  	
  :

  	
  COMMON STOCK

  
	
   

  	
   

  	
   

  
	
  AMOUNT

  	
  :

  	
   

  
	
   

  	
   

  	
   

  
	
  DATE

  	
  :

  	
   

  

 

In
connection with the grant of the above-listed Securities, the undersigned
Participant represents to the Company the following:

 

(a)                                  Participant
is aware of the Company’s business affairs and financial condition and has
acquired sufficient information about the Company to reach an informed and
knowledgeable decision to acquire the Securities. Participant is acquiring
these Securities for investment for Participant’s own account only and not with
a view to, or for resale in connection with, any “distribution” thereof within the meaning of the Securities Act
of 1933, as amended (the “Securities Act”).

 

(b)                                 Participant
acknowledges and understands that the Securities constitute “restricted securities”  under the Securities Act and have not been
registered under the Securities Act in reliance upon a specific exemption
therefrom, which exemption depends upon, among other things, the bona fide
nature of Participant’s investment intent as expressed herein. In this
connection, Participant understands that, in the view of the Securities and
Exchange Commission, the statutory basis for such exemption may be
unavailable if Participant’ s representation was predicated solely upon a
present intention to hold these Securities for the minimum capital gains period
specified under tax statutes, for a deferred sale, for or until an increase or
decrease in the market price of the Securities, or for a period of one year or
any other fixed period in the future. Participant further understands that the
Securities must be held indefinitely unless they are subsequently registered
under the Securities Act or an exemption from such registration is available. Participant
further acknowledges and understands that the Company is under no obligation to
register the Securities.

 

(c)                                  Participant
is familiar with the provisions of Rule 701 and Rule 144, each
promulgated under the Securities Act, which, in substance, permit limited
public resale of “restricted securities”
acquired, directly or indirectly from the issuer thereof, in a non-public
offering (or held by any affiliate of the issuer), subject to the satisfaction
of certain conditions. Rule 701 provides that if the issuer qualifies
under Rule 701 at the time of the grant of the Option to the Participant,
the exercise will be exempt from registration under the Securities Act. In the
event the Company becomes subject to the reporting requirements of Section 13
or 15(d) 

 

 

of the Securities Exchange Act of 1934, ninety (90) days thereafter (or
such longer period as any market stand-off agreement may require) the
Securities exempt under Rule 701 may be resold, subject to the
satisfaction of certain of the conditions specified by Rule 144,
including:  (1) the resale being
made through a broker in an unsolicited “broker’s
transaction” or in transactions directly with a market maker
(as said term is defined under the Securities Exchange Act of 1934); and, in
the case of an affiliate, (2) the availability of certain public
information about the Company, (3) the amount of Securities being sold
during any three (3) month period not exceeding the limitations specified
in Rule 144(e), and (4) the timely filing of a Form 144, if
applicable.

 

(d)                                 In
the event that the Company does not qualify under Rule 701 at the time of
grant of the Option, then the Securities may be resold in certain limited
circumstances subject to the provisions of Rule 144, which
requires the resale to occur not less than one  year after the later of the date the
Securities were sold by the Company or the date the Securities were sold by an
affiliate of the Company, within the meaning of Rule 144; and, in the case
of acquisition of the Securities by an affiliate, or by a non-affiliate who
subsequently holds the Securities less than two (2) years, the
satisfaction of the conditions set forth in sections (1), (2), (3) and (4) of
the paragraph immediately above.

 

(e)                                  Participant
further understands that in the event all of the applicable requirements of Rule 701
or 144 are not satisfied, registration under the Securities Act, compliance
with Regulation A, or some other registration exemption will be required; and
that, notwithstanding the fact that Rules 144 and 701 are not exclusive,
the Staff of the Securities and Exchange Commission has expressed its opinion
that persons proposing to sell private placement securities other than in a
registered offering and otherwise than pursuant to Rules 144 or 701 will
have a substantial burden of proof in establishing that an exemption from
registration is available for such offers or sales, and that such persons and
their respective brokers who participate in such transactions do so at their
own risk. Participant understands that no assurances can be given that any such
other registration exemption will be available in such event.

 

	
   

  	
  Signature of
  Participant:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Date:

  

 

2

 

EXHIBIT B

 

CONSENT OF SPOUSE

 

I,                                        ,
spouse of                                        
have read and approve the foregoing Restricted Stock Agreement. In
consideration of granting of the Shares of Common Stock of  Reliant Pharmaceuticals, Inc. to my
spouse as set forth in the Restricted Stock Agreement, I hereby appoint my
spouse as my attorney-in-fact in respect to the exercise of any rights under the
Restricted Stock Agreement and agree to be bound by the provisions of the
Restricted Stock Agreement insofar as I may have any rights in any shares
issued pursuant thereto under the community property laws or similar laws
relating to marital property in effect in the state of our residence as of the
date of the signing of the Restricted Stock Agreement.

 

	
  Dated:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}]]