Document:

Exhibit 10.3

 

AMERISOURCEBERGEN CORPORATION

 

RESTRICTED STOCK UNIT AWARD TO NON-EMPLOYEE DIRECTOR

 

Participant:

 

Number of Restricted Stock

Units Granted:

 

Date of Grant:

 

Vesting Date:

 

RECITALS

 

This Restricted Stock Unit Award (the “Award Agreement”) is hereby made by AmerisourceBergen Corporation, a Delaware corporation (the “Company”), pursuant to the AmerisourceBergen Corporation Omnibus Incentive Plan (the “Plan”).

 

WHEREAS, the Company has agreed to grant to the Participant Restricted Stock Units, subject to certain restrictions and on the terms and conditions contained in this Award Agreement.

 

NOW, THEREFORE, in consideration of the foregoing and the premises contained herein and intending to be legally bound hereby:

 

1.    Definitions.  Unless otherwise defined herein, capitalized terms used in this Award Agreement shall have the meanings ascribed to them in the Plan.  As used herein:

 

(a)   “Award” means an award of Restricted Stock Units hereby granted.

 

(b)   “Date of Grant” means the date on which the Company awarded the Restricted Stock Units to the Participant pursuant to the Plan.

 

(c)   “Vesting Period” means, with respect to each Restricted Stock Unit, the period beginning on the Date of Grant and ending on the third anniversary thereof.

 

(d)   “Restricted Stock Units” means the Restricted Stock Units which are the subject of the Award hereby granted.

 

(e)   “Shares” mean shares of the Company’s Common Stock.

 

(f)    “Voluntary Retirement” means any voluntary termination of service on the Board by the Participant (i) after reaching age sixty-two (62) and completing sixty (60) full months of continuous service on the Board or (ii) after reaching age fifty-five (55), where the Participant’s age plus years of continuous service on the Board equals at least seventy (70).

 

2.             Grant of Restricted Stock Units.  Subject to the terms and conditions set forth herein and in the Plan, the Company hereby grants to the Participant the Restricted Stock Units.  Each Restricted Stock Unit represents an unfunded unsecured right of the Participant, upon vesting of the Restricted Stock Unit, to receive one Share.

 

3.             Vesting.  Subject to the terms and conditions set forth herein and in the Plan, the Restricted Stock Units shall become 100% vested on the earlier of: (a) the last day of the Vesting Period (the “Vesting Date”), provided that the Participant has remained in continuous service with the Company (other than by reason of a Voluntary Retirement) from the Date of Grant through the Vesting Date; and (b) the Participant’s death.

 

 

4.             Forfeiture of Restricted Stock Units.  If at any time the Participant ceases service as a member of the Board for any reason other than death during the Vesting Period, the Restricted Stock Units shall be forfeited by the Participant and deemed canceled by the Company and the Participant shall thereupon cause to have any right or be entitled to receive any Shares under the Restricted Stock Units.  Notwithstanding the foregoing, in the event that the Participant’s service with the Company terminates during the Vesting Period due to the Participant’s Voluntary Retirement, then the Restricted Stock Units shall continue to vest as if the Participant had continued in active service with the Company.

 

5.             Rights of Participant.  The Participant shall not have the rights of a stockholder of the Company with respect the Shares represented by the Restricted Stock Units, including, without limitation, the right to vote the Shares represented by the Restricted Stock Units, unless and until such Shares have been delivered to the Participant in accordance with Paragraph 9.

 

6.             Dividend Equivalents.  The Participant shall not receive cash dividends on the Restricted Stock Units, but instead shall, with respect to each Restricted Stock Unit, be entitled to a cash payment from the Company determined on each cash dividend payment date with respect to the Shares with a record date occurring at any time following the Date of Grant but prior to the date that the Shares represented by the Restricted Stock Units are delivered to the Participant in accordance with Paragraph 9.   Such cash payment shall be equal to the dividend that would have been paid on the Share represented by each Restricted Stock Unit had the Share been issued and outstanding and entitled to the dividend.  Cash payments for each cash dividend payment date with respect to the Shares with a record date occurring prior to the date that the Shares represented by the Restricted Stock Units are delivered to the Participant in accordance with Paragraph 9 shall be accrued until such delivery date and paid to the Participant at the same time delivery of the Shares represented by the Restricted Stock Units is made to the Participant in accordance with Paragraph 9.

 

7.             Notices.  Any notice to the Company provided for in this instrument shall be addressed to the Compensation Committee at 1300 Morris Drive, Chesterbrook, PA 19087, and any notice to the Participant shall be addressed to such Participant at the current address shown in the records of the Company, or to such other address as the Participant may designate to the Company in writing. Any notice shall be delivered by hand, sent by overnight courier, telecopy or enclosed in a properly sealed envelope addressed as stated above, registered and deposited, postage prepaid, in a post office regularly maintained by the United States Postal Service.

 

8.             Securities Laws, etc.  The Compensation Committee may from time to time impose any conditions on the Restricted Stock Units, and the Shares represented by the Restricted Stock Units, as it deems necessary or advisable to ensure that the Plan and this Award satisfy the conditions of Rule 16b-3, and that such Shares are issued and resold in compliance with the Securities Act of 1933, as amended.  The Company may require that the Participant represent that the Participant is holding the Shares for the Participant’s own account and not with a view to or for sale in connection with any distribution of the Shares, or such other representation as the Compensation Committee deems appropriate.

 

9.             Delivery Date.

 

(a)   Generally.  With respect to Shares not subject to a Deferral Election pursuant to Paragraph 9(b) below, the Shares represented by the Restricted Stock Units (or such other consideration as permitted by Section 21(b) of the Plan) that have become nonforfeitable (including by reason of satisfying the conditions for Voluntary Retirement) shall be delivered to the Participant on the earlier of: (a) the Vesting Date; (b) the date of the Participant’s death; and (c) the date of a Change in Control if such Change in Control constitutes a “change in the ownership or effective control” or a “change in the ownership of a substantial portion of the assets” within the meaning of Treas. Reg. 1.409A-3(i)(5).

 

(b)   Deferral Election.

 

(i)             The Participant shall have the right to make an election (a “Deferral Election”) to defer the receipt of all or a portion of the Shares issuable with respect to Restricted Stock Units hereby granted by filing a Deferral Election on the form provided by, and in accordance with the procedures established by, the Company for this purpose.  A Deferral Election shall not be effective unless it is filed with the Company on or before the date established by the Company.

 

(ii)            All Shares (or such other consideration as permitted by Section 21(b) of the Plan) issuable with respect to Restricted Stock Units that are subject to a Deferral Election under this Paragraph 9 and that have become nonforfeitable (including by reason of satisfying the conditions for Voluntary Retirement) shall be delivered to the Participant on the earlier of: (i) the date designated by the Participant, which shall not be earlier than the Vesting Date; (ii) the Participant’s death; and (iii) the date of a Change in Control if such Change in Control constitutes a “change in the ownership or effective control” or a “change in the ownership of a substantial portion of the assets” within the meaning of Treas. Reg. 1.409A-3(i)(5).

 

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(iii)           The Participant’s right to delivery of Shares subject to a Deferral Election shall at all times represent the general obligation of the Company.  Grantee shall be a general creditor of the Company with respect to this obligation, and shall not have a secured or preferred position with respect to such obligation.  Nothing contained in the Plan or this Award shall be deemed to create an escrow, trust, custodial account or fiduciary relationship of any kind.

 

(c)   Change in Control.  With respect to forfeitable Restricted Stock Units subject to this Award, in the event of a Change in Control, the Board or the Compensation Committee may, in its sole discretion, cause such Restricted Stock Units to become nonforfeitable and the Shares represented by the Restricted Stock Units (or such other consideration as permitted by Section 21(b) of the Plan) to be delivered to the Participant on the date of such Change in Control or, if the Shares issuable with respect to Restricted Stock Units are subject to a Deferral Election, on the date Change in Control only if it constitutes a “change in the ownership or effective control” or a “change in the ownership of a substantial portion of the assets” within the meaning of Treas. Reg. 1.409A-3(i)(5).

 

10.          Delivery of Shares.  The certificates for the Shares represented by the Restricted Stock Units will be delivered without payment from the Participant and without any legend or restrictions, except for such restrictions as may be imposed by the Compensation Committee, in its sole judgment, under Paragraph 8.  The Company may condition delivery of certificates for Shares upon the prior receipt from the Participant of any undertakings which it may determine are required to ensure that the certificates are being issued in compliance with federal and state securities laws.  The right to payment of any fractional Shares shall be satisfied in cash, measured by the product of the fractional amount times the Fair Market Value of a Share on the delivery date, as determined by the Compensation Committee.

 

11.          Transferability.  The Restricted Stock Units (and the underlying Shares and related dividend equivalents) may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Participant other than by will or by the laws of descent and distribution, and any purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance not permitted by this Paragraph 11 shall be void and unenforceable.  However, any Shares (and related dividend equivalents) which vest hereunder but otherwise remain unissued at the time of the Participant’s death, shall be issued to the Participant’s designated beneficiary or beneficiaries of this Award or in the absence of such designated beneficiaries, pursuant to the provisions of the Participant’s will or laws of descent and distribution.

 

12.          Miscellaneous.

 

(a)   The Award granted hereunder shall not confer upon the Participant any right to continue in the service of the Company and the Company and its stockholders may terminate the Participant’s service at any time in accordance with applicable law.

 

(b)   The Award granted hereunder is subject to the approval of the Plan by the shareholders of the Company to the extent that such approval (i) is required pursuant to the rules and regulations of the New York Stock Exchange, or (ii) is required to satisfy the conditions of Rule 16b-3.

 

(c)   The Company has not advised the Participant regarding the Participant’s income tax liability in connection with the grant or vesting of the Restricted Stock Units or the delivery of the Shares represented by the Restricted Stock Units.  The Participant may not rely on any statements or representations of the Company or any of its agents in regard to such liability.  The Participant (and not the Company) shall be responsible for the Participant’s own tax liability that may arise as a result of the transactions contemplated by this Award Agreement.

 

(d)   The validity, performance, construction and effect of this Award shall be governed by and determined in accordance with the law of the State of Delaware, without giving effect to conflicts of laws principles thereof.

 

(e)   Except to the extent otherwise provided in this Agreement, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the Company and its successors and assigns and the Participant, the Participant’s assigns, the legal representatives, heirs and legatees of the Participant’s estate and any beneficiaries of the Award designated by the Participant.

 

(f)    This Agreement shall not in any way affect the right of the Company to adjust, reclassify, reorganize or otherwise change its capital or business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business or assets.

 

(g)   The Participant has received a copy of the Plan, a copy of which is attached hereto, has been provided with the opportunity to read the Plan and is familiar with the terms and provisions thereof and hereby accepts this Award subject to all of the terms and provisions of this Award and the Plan.  The Participant acknowledges the receipt of the prospectus

 

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for the Plan, a copy of which is attached hereto.  All decisions or interpretations of the Board or the Compensation Committee upon any questions arising under the Plan or this Award shall be binding, conclusive and final.

 

IN WITNESS WHEREOF, the Company has caused its duly authorized officer to execute this Award Agreement effective as of the Date of Grant.

 

 

	
 
    	
AMERISOURCEBERGEN CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Accepted:
    	
 
    

 

4Exhibit 10.4

 

AMERISOURCEBERGEN CORPORATION

 

NONQUALIFIED STOCK OPTION GRANT TO EMPLOYEE

 

	
Participant:
    	
 
    	
Name
    
	
 
    	
 
    	
 
    
	
Number of Shares
    	
 
    	
 
    
	
Subject to   Options:
    	
 
    	
Shares
    
	
 
    	
 
    	
 
    
	
Exercise Price:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Date of Grant:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Termination Date:
    	
 
    	
 
    

 

RECITALS

 

A.            By authority of the Board of Directors of AmerisourceBergen Corporation (the “Company”), the Company has adopted The AmerisourceBergen Corporation Omnibus Incentive Plan (the “Plan”) and as a result, shares thereunder are available for grant to employees of the Company and its direct and indirect parent and subsidiaries.

 

B.            The Administrator has decided to make a stock option grant as an inducement for the Participant to continue in the Service of the Company (or any Parent or Subsidiary) and to promote the best interests of the Company and its stockholders.

 

C.            All capitalized terms in this Agreement, to the extent not otherwise defined in one or more provisions of this Agreement, shall have the meanings assigned to them in the Plan.

 

NOW, THEREFORE, in consideration of the foregoing and the premises contained herein and intending to be legally bound:

 

1.                                      Grant of Option.  Subject to the terms and conditions set forth in this Agreement and in the Plan, the Company hereby grants to the Participant a nonqualified stock option (the “Option”) to purchase shares of common stock of the Company (“Shares”) at an exercise price of $______ per Share (the “Exercise Price”). The Option shall become exercisable according to Section 2 below.

 

2.                                      Exercisability of Option.  Subject to the provisions of Section 7, the Option shall vest and become exercisable as of the following dates, if the Participant is in Service as of the applicable date:

 

	
Date
    	
 
    	
Percentage Exercisable
    	
 
    
	
 
    	
 
    	
25
    	
%
    
	
 
    	
 
    	
25
    	
%
    
	
 
    	
 
    	
25
    	
%
    
	
 
    	
 
    	
25
    	
%
    

 

Notwithstanding the above but subject to Section 7, the Option shall continue to vest and become exercisable following the Participant’s cessation of Service if such cessation is due to the Participant’s Voluntary Retirement (as defined below).

 

For purposes of this Agreement, “Voluntary Retirement” means any voluntary termination by the Participant as an employee of the Company (or any Parent or Subsidiary) (i) after reaching age sixty-two (62) and

 

 

completing sixty (60) full months of continuous employment with the Company and/or its Parent or Subsidiaries or (ii) after reaching age fifty-five (55) where the Participant’s age plus years of continuous employment with the Company and/or its Parent or Subsidiaries equals at least seventy (70).

 

3.                                      Term of Option.

 

(a)                   The Option shall have a term of seven years from the date of grant and shall terminate at the expiration of that period on ____________(the “Expiration Date”), unless it is terminated at an earlier date pursuant to the provisions of this Agreement or the Plan.

 

(b)                     The option term specified in Section 3(a) shall terminate (and the Option shall cease to be outstanding) prior to the Expiration Date should any of the following provisions become applicable:

 

(i)                                     Should the Participant cease to remain in Service for any reason other than a voluntary termination or for Cause while the Option is outstanding, then the Participant (or any other person or persons exercising the Option) shall have a one (1)-year period measured from the date of such cessation of Service during which to exercise the Option, but in no event shall this option be exercisable at any time after the Expiration Date.

 

(ii)                                  Should the Participant’s Service terminate by reason of his or her voluntary termination (other than due to the Participant’s Voluntary Retirement) then the Participant (or any other person or persons exercising the Option) shall have a three (3)-month period measured from the date of such cessation of Service during which to exercise the Option, but in no event shall this option be exercisable at any time after the Expiration Date.

 

(iii)                               The applicable period of post-Service exercisability in effect pursuant to the foregoing provisions of this Section 3(b) shall automatically be extended by an additional period of time equal in duration to any interval within such post-Service exercise period during which the exercise of the Option or the immediate sale of the Shares acquired under the Option cannot be effected in compliance with applicable federal and state securities laws, but in no event shall such an extension result in the continuation of the Option beyond the Expiration Date.

 

(iv)                              Should the Participant’s Service be terminated for Cause, or should the Participant otherwise engage in conduct constituting grounds for termination for Cause while the Option is outstanding, then the Option, whether or not vested and exercisable, shall terminate immediately and cease to be outstanding.

 

(b)                   During the limited period of post-Service exercisability, the Option may not be exercised in the aggregate for more than the number of Shares for which the Option is, at the time of the Participant’s cessation of Service, vested and exercisable pursuant to the schedule specified in Section 2.  Except as otherwise provided in Section 2 or except to the extent (if any) specifically authorized by the Administrator pursuant to an express written agreement with the Participant, the Option shall not vest or become exercisable for any additional Shares following the Participant’s cessation of Service.  Upon the expiration of such limited exercise period or (if earlier) upon the Expiration Date, the Option shall terminate and cease to be outstanding for any Shares for which the Option has not otherwise been exercised.

 

4.                                      Exercise Procedures.

 

(a)                   In order to exercise the Option with respect to all or any of the Shares for which the Option is at the time exercisable, the Participant (or any other person or persons exercising the Option) must take the following actions:

 

(i)                         Execute and deliver to the Company a notice of exercise (in the form prescribed by the Company) as to the Shares for which the Option is exercised or comply with such other

 

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procedures as the Company may establish for notifying the Company of the exercise of the Option for one or more Shares.

 

(ii)                      Pay the aggregate Exercise Price for the purchased Shares in one or more of the following forms:

 

(A)                   cash or check made payable to the Company;

 

(B)                   by having the Company withhold Shares otherwise available upon exercise of the Option with a Fair Market Value on the date of exercise equal to the aggregate Exercise Price for the purchased Shares; or

 

(C)                   through a “cashless exercise” procedure approved by the Company pursuant to which the Participant (or any other person or persons exercising the Option) shall concurrently provide irrevocable instructions (i) to a brokerage firm (reasonably satisfactory to the Company for purposes of administering such procedure in accordance with the Company’s pre-clearance/pre-notification policies) to effect the immediate sale of the purchased Shares and remit to the Company, out of the sale proceeds available on the settlement date, sufficient funds to cover the aggregate Exercise Price payable for the purchased Shares plus all applicable Taxes required to be withheld by the Company by reason of such exercise and (ii) to the Company to deliver the certificates for the purchased Shares directly to such brokerage firm on such settlement date in order to complete the sale.

 

Except to the extent the sale and remittance procedure is utilized in connection with the Option exercise, payment of the Exercise Price must accompany the notice of exercise (or other notification procedure) delivered to the Company in connection with the Option exercise.

 

(iii)                   Furnish to the Company appropriate documentation that the person or persons exercising the Option (if other than the Participant) have the right to exercise the Option.

 

(iv)                  Make appropriate arrangement with the Company for the satisfaction of all Taxes required to be withheld in connection with the Option exercise.

 

(b)                   The obligation of the Company to deliver Shares upon exercise of the Option shall be subject to all applicable laws, rules, and regulations and such approvals by governmental agencies as may be deemed appropriate by the Administrator, including such actions as Company counsel shall deem necessary or appropriate to comply with relevant securities laws and regulations. The Company may require that the Participant (or other person or persons exercising the Option after the Participant’s death) represent that the Participant is purchasing Shares for the Participant’s own account and not with a view to or for sale in connection with any distribution of the Shares, or such other representation as the Administrator deems appropriate. All obligations of the Company under this Agreement shall be subject to the rights of the Company as set forth in the Plan to withhold amounts of federal, state and local income and employment taxes required to be withheld in connection with the exercise of the Option (“Taxes”), if applicable.

 

5.                                      Change in Control.  The provisions of the Plan applicable to a Change in Control shall apply to the Option, and the Administrator may take such actions as it deems appropriate pursuant to the Plan.

 

6.                                      Restrictions on Exercise.  Only the Participant may exercise the Option during the Participant’s lifetime.  After the Participant’s death, the Option shall be exercisable (subject to the limitations specified in the Plan) solely by the legal representatives of the Participant, the Participant’s designated beneficiary or beneficiaries of the Option or by the person or persons who acquire the right to exercise the Option by will or by the laws of descent and distribution, to the extent that the Option is exercisable pursuant to this Agreement.

 

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7.                                      Special Forfeiture and Repayment Rules.

 

(a)                   The Participant hereby acknowledges and agrees that in the event that the Participant experiences a Triggering Event (as defined in the Plan) and unless the Administrator or its delegate determines otherwise, then:

 

(i)                         any portion of the Option that remains unexercised as of the date the Administrator determines that the Participant has experienced a Triggering Event, regardless of whether the Option is vested or unvested as of that date, shall be immediately and automatically forfeited; and

 

(ii)                      if the Participant (or his permitted transferee) exercised all or a portion of the Option within the 12-month period immediately prior to the date of the acts or omissions that gave rise to such Triggering Event or anytime thereafter, within 10 days of receiving written notice from the Company that a Triggering Event has occurred, the Participant shall pay to the Company an amount equal to the product of the number of Shares as to which the Option was exercised, multiplied by the excess, if any, of the Fair Market Value per share on the date of exercise over the Exercise Price of the Option.

 

(b)                   The Administrator or its delegate shall determine in its sole discretion whether a Triggering Event has occurred with respect to the Participant.

 

(c)                    The Participant hereby acknowledges and agrees that the restrictions contained in the Plan are being made for the benefit of the Company in consideration of the Participant’s receipt of the Option. The Participant further acknowledges that the receipt of the Option is a voluntary action on the part of the Participant and that the Company is unwilling to provide the Option to the Participant without including the restrictions contained in the Plan.

 

(d)                   The Participant hereby consents to a deduction from, and set-off against, any amounts owed to the Participant by the Company or its affiliates from time to time (including, but not limited to, amounts owed to the Participant as wages, severance payments or other fringe benefits) to the extent of the amounts owed to the Company by the Participant under this Agreement.

 

(e)                    The Special Forfeiture and Repayments provisions of this Agreement and the Plan are in addition to, not in lieu of, any other obligation and/or restriction that the Participant may have with respect to the Company, whether by operation of law, contract, or otherwise, including, without limitation, any non-competition and non-solicitation obligations contained in an employment agreement entered into by and between the Participant and the Company or any of its affiliates.

 

(f)                     The Participant hereby further agrees that the Participant shall be subject to any clawback, recoupment or other similar policy that the Company adopts and acknowledges and agrees that the Option hereunder granted, the Shares issued or to be issued and/or amounts paid or to be paid hereunder and/or amounts received with respect to any sale of such Shares, shall be subject to potential cancellation, recoupment, rescission, payback or other action in accordance with the terms of such policy.  The Participant agrees and consents to the Company’s application, implementation and enforcement of (i) any such policy established by the Company that may apply to the Participant and (ii) any provision of applicable law relating to cancellation, rescission, payback or recoupment of compensation, and expressly agrees that the Company may take such actions as are necessary to effectuate such policy or applicable law without further consent or action being required by the Participant.  To the extent that the terms of this Agreement and such policy conflict, then the terms of such policy shall prevail.

 

8.                                      Grant Subject to Plan Provisions.  This grant is made pursuant to the Plan, the terms of which are incorporated herein by reference, and in all respects shall be interpreted in accordance with the Plan. The grant and exercise of the Option are subject to the provisions of the Plan and to interpretations, regulations and determinations concerning the Plan established from time to time by the Administrator in accordance with the provisions of the Plan, including, but not limited to, provisions pertaining to (i) rights and obligations with respect to Taxes, (ii) the Special Forfeiture and Repayment Rules provisions of the Plan, (iii) the registration, qualification or

 

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listing of the Shares, (iv) capital or other changes of the Company and (v) other requirements of applicable law. The Participant has received a copy of the Plan, a copy of which is attached hereto, has been provided with the opportunity to read the Plan and is familiar with the terms and provisions thereof.  The Participant hereby acknowledges receipt of the prospectus for the Plan, a copy of which is attached hereto.  The Administrator shall have the authority to interpret and construe the Option in accordance with this Agreement and pursuant to the terms of the Plan, and its decision shall be binding and conclusive as to any questions arising hereunder.

 

9.                                      No Employment Rights.  The grant of the Option shall not confer upon the Participant any right to continue in Service and shall not interfere in any way with the right of the Company (or any Parent or Subsidiary) to terminate the Participant’s Service at any time. The right of the Company (or any Parent or Subsidiary) to terminate at will the Participant’s Service at any time for any reason is specifically reserved.

 

10.                               Tax Consequences.  The Participant acknowledges that the Company has not advised the Participant regarding the Participant’s tax liability in connection with the grant, vesting or exercise of the Option. The Participant is not relying on any statements or representations of the Company or any of its agents in regard to such liability. The Participant understands that the Participant (and not the Company) shall be responsible for the Participant’s own tax liability that may arise as a result of the transactions contemplated by this Agreement.

 

11.                               Assignment and Transfers.  The rights and interests of the Participant under this Agreement may not be sold, transferred, assigned, pledged or otherwise encumbered or disposed of other than by will or by the laws of descent and distribution.

 

12.                               Applicable Law.  The validity, construction, interpretation and effect of this instrument shall be governed by and determined in accordance with the laws of the state of Delaware, without giving effect to conflicts of laws principles thereof.

 

13.                               Notice.  Any notice to the Company provided for in this instrument shall be addressed to the Compensation Committee at 1300 Morris Drive, Chesterbrook, PA 19087, and any notice to the Participant shall be addressed to such Participant at the current address shown on the payroll of the Company, or to such other address as the Participant may designate to the Company in writing. Any notice shall be delivered by hand, sent by overnight courier or telecopy or enclosed in a properly sealed envelope addressed as stated above, registered and deposited, postage prepaid, in a post office regularly maintained by the United States Postal Service.

 

14.                               Rights to Adjust.  This Agreement shall not in any way affect the right of the Company to adjust, reclassify, reorganize or otherwise change its capital or business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business or assets.

 

15.                               Successors and Assigns.  Except to the extent otherwise provided in this Agreement, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the Company and its successors and assigns and the Participant, the Participant’s assigns, the legal representatives, heirs and legatees of the Participant’s estate and any beneficiaries of the Option designated by the Participant.

 

16.                               GRANT ACCEPTANCE.  YOU MUST ACCEPT THE TERMS OF THIS AGREEMENT WITHIN 60 DAYS OF RECEIPT IN ACCORDANCE WITH THE PROCEDURES SPECIFIED BY THE COMPANY.  IF YOU DO NOT ACCEPT THE TERMS AS INSTRUCTED, THIS AGREEMENT WILL AUTOMATICALLY, WITHOUT FURTHER ACTION OF THE COMPANY OR THE ADMINISTRATOR, TERMINATE AND THE AWARD WILL BE FORFEITED AT MIDNIGHT ON THE 60TH DAY.  ACCEPTANCE OF THIS AGREEMENT CONSTITUTES YOUR CONSENT TO ANY ACTION TAKEN UNDER THE PLAN AND THIS AGREEMENT AND YOUR AGREEMENT TO BE BOUND BY THE COVENANTS AND AGREEMENTS CONTAINED IN ATTACHMENT A AND ATTACHMENT B OF THE PLAN.

 

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IN WITNESS WHEREOF, the Company has caused its duly authorized officer to execute this Agreement effective as of the date of grant.

 

 

	
 
    	
AMERISOURCEBERGEN   CORPORATION

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