Document:

Form of Stock Option Agreement (Nonqualified Stock Options)

 Exhibit 10.26 
 ALEXION PHARMACEUTICALS, INC. 
 2004 INCENTIVE PLAN 
 STOCK OPTION AGREEMENT 
 THIS
AGREEMENT, made as of this              day of                 ,
                 (the “Grant Date”), by and between Alexion Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and you (the
“Optionee”) sets forth the terms and conditions of an Award granted to the Optionee under the Alexion Pharmaceuticals, Inc. 2004 Incentive Plan (the “Plan”). 
 W I T N E S S E T H: 
 Pursuant to the Plan, the Company desires to grant to the Optionee, and the Optionee desires to accept, an option to purchase shares of the Company’s common stock, $0.0001 par value (the “Common Stock”), upon the terms and
conditions set forth in this Agreement and the Plan. Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Plan. 
 NOW, THEREFORE, the parties hereto agree as follows: 
 1. Grant. The Company hereby grants to the
Optionee an option (the “Option”) to purchase such number of shares of Common Stock, at the purchase price per share, in each case, set forth in a letter dated as of the date hereof separately delivered to Optionee together with this
Agreement (the “Award Letter”). This Option is not intended to qualify as an “incentive stock option” within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended. 
 2. Restrictions on Exercisability. Except as otherwise provided herein or in the Plan or in an employment or other agreement between the Optionee
and the Company or its affiliates, this Option shall become exercisable in accordance with the schedule shown in the Award Letter based upon the Optionee’s continuous employment or other service with the Company or its affiliates following the
Grant Date. No shares of Common Stock may be purchased hereunder unless the Optionee shall have remained in the continuous employment or other service of the Company or an affiliate up to and including the specified date shown in the Award Letter
from the Grant Date. Unless earlier terminated, this Option shall expire if and to the extent it is not exercised on or prior to the tenth anniversary of the Grant Date (the “Expiration Date”). 
 3. Exercise and Payment. The Optionee may exercise this Option in whole or in part in accordance with the schedule shown in the Award Letter by
delivering to the Company (a) a written notice of such exercise specifying the number of shares of Common Stock that the Optionee has elected to acquire and (b) payment in full of the exercise price, together with the amount, if any,
deemed necessary by the Company to enable it to satisfy any tax withholding obligations with respect to the exercise (unless other arrangements acceptable to the Company are made for the satisfaction of such withholding obligation). The Option
exercise price shall be payable in cash or bank or certified check or by such methods in accordance with such procedures as may be authorized or permitted by the Committee from time to time. 

 4. Rights as Stockholder. No shares of Common Stock shall be sold or delivered hereunder until
full payment for such shares has been made. The Optionee shall have no rights as a stockholder with respect to any shares covered by this Option until shares are issued to the Optionee. Except as otherwise provided herein or in the Plan, no
adjustment shall be made for dividends or distributions of other rights for which the record date is prior to the date such stock certificate is issued. 
 5. Nontransferability. The Option is not assignable or transferable except upon the Optionee’s death to a Beneficiary. During an Optionee’s lifetime, this Option may be exercised only by the Optionee.

 6. Termination of Employment or other Service 
 (a) Disability or Death. Except as otherwise provided in an employment or other agreement between the Optionee and the Company or its affiliates, if the Optionee’s employment or other service with the
Company and its affiliates terminates due to his or her death or Disability, then: (i) that portion of this Option that is not exercisable on the date of termination shall immediately terminate, and (ii) subject to Section 6(b) below,
that portion of this Option that is exercisable on the date of termination shall remain exercisable, but only to the extent exercisable on the date of termination, by the Optionee (or the Optionee’s designated beneficiary or legal
representative) until the earlier of (x) the first anniversary of the date of termination (or, if the Optionee’s employment or other service is terminated by reason of his or her Disability and the Optionee dies within one year of such
termination of employment or other service, the first anniversary of the later death of such disabled Optionee) and (y) the Expiration Date and, to the extent not exercised during such period, shall immediately terminate thereafter. 

For purposes of this Agreement, “Disability” shall mean, unless otherwise defined in an employment or other agreement between the Optionee
and the Company or its affiliates (in which case, such meaning shall apply), the inability of an Optionee to perform the customary duties of his or her employment or other service for the Company or its affiliates by reason of a physical or mental
incapacity which is expected to result in death or to be of indefinite duration. 
 (b) Termination for Cause or at a Time when Cause
Exists. Except as otherwise provided in an employment or other agreement between the Optionee and the Company or its affiliates, if the Optionee’s employment or other service is terminated by the Company or an affiliate for Cause, which in
the determination of the Committee justifies termination of this Option, or if, at the time of the Optionee’s termination, grounds for a termination for such Cause exist, then this Option (whether or not then exercisable) shall immediately
terminate and cease to be exercisable. 
 For purposes of this Agreement, “Cause” shall mean, unless otherwise defined in an
employment or other agreement between the Optionee and the Company or its affiliates (in which case, such meaning shall apply), the Optionee’s dishonesty, fraud, insubordination, willful misconduct, refusal to perform services, unsatisfactory
performance of services or material breach of any written agreement between the Optionee and the Company or any of its affiliates. Cause shall be determined by the Company. 

 (c) Other Termination. Except as otherwise provided in an employment or other agreement between
the Optionee and the Company or its affiliates, if the Optionee’s employment or other service with the Company and its affiliates terminates for any reason not covered by Section 6(a) or 6(b) above, then: (i) that portion of this
Option that is not exercisable on the date of termination shall immediately terminate, and (ii) subject to Section 6(b) above, that portion of this Option that is exercisable on the date of termination shall remain exercisable, but only to
the extent exercisable on the date of termination, by the Optionee until the earlier of (x) the ninetieth day following the date of termination and (y) the Expiration Date and, to the extent not exercised during such period, shall
immediately terminate thereafter. 
 7. Cancellation of Option. Notwithstanding anything herein to the contrary, the Committee may
cancel, rescind, suspend, withhold or otherwise limit or restrict this Option at any time if the Optionee is not in compliance with all material applicable provisions of this Agreement or the Plan, or if the Optionee engages in a Detrimental
Activity. Upon exercise of the Option, if requested by the Company the Optionee shall certify in a manner acceptable to the Company that he or she is in compliance with the terms and conditions of this Agreement and the Plan and has not engaged in
any Detrimental Activity. 
 For purposes of this Agreement, “Detrimental Activity” shall mean any of the following, unless
authorized by the Company: (1) the rendering of services for any organization or engaging directly or indirectly in any business which is or becomes competitive with the Company or its affiliates, or which organization or business, or the
rendering of services to such organization or business, is or becomes otherwise prejudicial to or in conflict with the interests of the Company or its affiliates, (2) the disclosure to anyone outside the Company or its affiliates, or the use in
other than the Company’s or its affiliates’ business, without authorization from the Company, of any confidential information or material relating to the business of the Company or its affiliates, acquired by the Optionee either during or
after employment or other service with the Company or its affiliates, (3) the failure or refusal to disclose promptly and to assign to the Company or its affiliates all right, title and interest in any invention or idea, patentable or not, made
or conceived by the Optionee during employment by or other service with the Company or its affiliates, relating in any manner to the actual or anticipated business, research or development work of the Company or its affiliates or the failure or
refusal to do anything reasonably necessary to enable the Company or its affiliates to secure a patent where appropriate in the United States and in other countries insofar as any matter referred to in this clause (3) violates any obligation of
the Optionee to the Company or its affiliates, or (4) any attempt directly or indirectly to induce any employee of the Company or its affiliates to be employed or perform services elsewhere or any attempt directly or indirectly to solicit the
trade or business of any current or prospective customer, supplier or partner of the Company or its affiliates. 
 8. Securities
Restrictions. This Option shall not be exercisable for such period as may be required to comply with the Federal securities laws, state “blue sky” laws, an applicable listing requirement of any applicable securities exchange and any
other law or regulation applicable to the exercise of this Option, and the Company shall not be obligated to issue or deliver shares of Common Stock hereunder if the issuance or delivery of such shares would constitute a violation of any law or any
regulation of any governmental authority or applicable securities exchange. 

 9. No Employment or Other Service Rights. Nothing in this Agreement shall confer the Optionee any
right to continue in the employment or other service of the Company or its affiliates, or in any way interfere with the right of the Company or its affiliates to terminate the employment or other service of the Optionee at any time. 
 10. Provisions of the Plan. The provisions of the Plan, the terms of which are incorporated in this Agreement, shall govern if and to the extent
that there are inconsistencies between those provisions and the provisions hereof. The Optionee acknowledges that he or she received a copy of the Plan prior to the execution of this Agreement. 
 11. Miscellaneous. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and
permitted assigns. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to its principles of conflicts of law. This Agreement constitutes the entire agreement between the parties with
respect to the subject matter hereof and, except as otherwise provided in the Plan, may not be modified other than by written instrument executed by the parties. 
 IN WITNESS WHEREOF, this Agreement has been executed as of the date first above written. 
  

			
	ALEXION PHARMACEUTICALS, INC.
		
	By:	 	 
	Name:	 	
	Title:Form of Restricted Stock Award Agreement

 Exhibit 10.27 
 ALEXION PHARMACEUTICALS, INC. 
 2004 INCENTIVE PLAN 
 RESTRICTED STOCK AWARD AGREEMENT 
 THIS AGREEMENT, made as of this              day of                 ,
200     (the “Grant Date”), by and between Alexion Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and you (“Participant”) sets forth the terms and conditions of an Award of
Restricted Stock granted to Participant under the Alexion Pharmaceuticals, Inc. 2004 Incentive Plan (the “Plan”). 
 W I T N E S
S E T H: 
 Pursuant to the Plan, the Company desires to grant Participant, and Participant desires to accept, an Award of Restricted
Stock, upon the terms and conditions set forth in this Agreement and the Plan. Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Plan. 
 NOW, THEREFORE, the parties hereto agree as follows: 
 1. Grant. The Company hereby grants to Participant the number of shares of Stock (the “Shares”) set forth in an award letter delivered to Participant together with this Agreement (the “Award
Letter”), subject to the terms and conditions of the Plan and this Agreement. The Shares are subject to certain transfer and forfeiture restrictions pursuant to this Agreement, which shall expire, if at all, in accordance with Section 2
below. While such restrictions are in effect, the Shares subject to such restrictions shall be referred to as “Restricted Stock.” 
 2. Vesting. Except as otherwise provided in an employment or other agreement between Participant and the Company or its affiliates, the Restricted Stock shall become vested, and cease to be Restricted Stock, in the amounts and on the
dates specified in the Award Letter (each, a “Vesting Date”), provided that Participant remains in the continuous employment or other service of the Company or its affiliates through each applicable Vesting Date. 
 3. Restrictions on Transfer. Shares of Restricted Stock shall not be sold, assigned, transferred, disposed of, pledged or otherwise hypothecated
by Participant (other than to the Company) unless and until they become vested and cease to be Restricted Stock pursuant to Section 2 above. Any attempted sale, assignment, transfer, disposition, pledge or hypothecation of shares of Restricted
Stock in violation of this Agreement shall be void and of no effect and the Company shall have the right to disregard the same on its books and records and issue “stop transfer” instructions to its transfer agent. 
 4. Forfeiture. Except as otherwise provided in an employment or other agreement between Participant and the Company or its affiliates or in the
Plan, Participant shall immediately forfeit to the Company any and all Restricted Stock, and all rights and interests therein, without compensation, upon the cessation of Participant’s employment or other service with the Company or its
affiliates. 

 5. Stock Certificates. The Restricted Stock shall be evidenced by book entries on the
Company’s stock transfer records pending the expiration of restrictions thereon or shall be evidenced by certificates, which shall be retained in the physical possession of the Company until the Shares become vested. Participant shall deliver
to the Company the stock power and assignment, in the form of Exhibit A attached to this Agreement, endorsed in blank, relating to the Restricted Stock as soon as practical after the Grant Date. It is a condition to your receipt of the
Restricted Stock that you complete and return the stock power to the Company within 30 days of receipt of this Agreement. If you fail to complete and return the stock power in such time period, the Company may revoke this grant and your Restricted
Stock will be deemed forfeited. 
 6. Voting and Dividends. Participant shall be entitled to exercise voting rights with respect to
the Restricted Stock notwithstanding the restrictions imposed on the Restricted Stock herein. Any cash or stock dividends paid on the Restricted Stock shall be remitted to Participant, subject to applicable withholding. Any cash, property or other
securities distributed in respect of or exchanged for the Restricted Stock shall be subject to the restrictions and risk of forfeiture to the same extent as the Restricted Stock, or as otherwise determined by the Committee. 
 7. Legends. Any certificates which evidence the shares of Restricted Stock shall bear the following legend (and such other restrictive legends as
are required or deemed advisable under the provisions of any applicable law): 
 “THE SHARES OF COMMON STOCK EVIDENCED BY THIS
CERTIFICATE ARE SUBJECT TO CERTAIN TRANSFER AND FORFEITURE RESTRICTIONS AS SET FORTH IN THAT CERTAIN RESTRICTED STOCK AWARD AGREEMENT BETWEEN THE COMPANY AND THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY. ANY
ATTEMPTED TRANSFER OF SHARES OF COMMON STOCK EVIDENCED BY THIS CERTIFICATE IN VIOLATION OF SUCH AGREEMENT SHALL BE NULL AND VOID AND WITHOUT EFFECT.” 
 8. Continuance of Employment or Other Service. Nothing in this Agreement shall be deemed to create any obligation on the part of the Company or its affiliates to continue the employment or other service of
Participant or interfere with the right of the Company or its affiliates to terminate the employment or service of Participant. 
 9.
Provisions of the Plan. The provisions of the Plan, the terms of which are incorporated in this Agreement, shall govern if and to the extent that there are inconsistencies between those provisions and the provisions hereof. Participant
acknowledges receipt of a copy of the Plan prior to the date of this Agreement. 

 10. Withholding. 
 (a) As a condition to the lifting or lapse of restrictions on this Award, or in connection with any other event that gives rise to a
federal or other governmental tax withholding obligation on the part of the Company relating to this Award, (a) the Company may deduct or withhold (or cause to be deducted or withheld) from any payment or distribution to Participant, whether or
not pursuant to the Plan, (ii) the Committee shall be entitled to require that Participant remit cash to the Company, or (iii) the Company may enter into any other suitable arrangements to withhold, in each case in an amount sufficient in
the opinion of the Company to satisfy such withholding obligation. 
 (b) Unless the Company notifies you in writing before
any Vesting Date, the number of Restricted Shares necessary to satisfy statutory withholding tax obligations on the Vesting Date will be released by you on the Vesting Date to an intermediary and sold in order to satisfy the withholding tax
obligation. You will be responsible for standard, third-party administration processing fees in connection with such sale. In addition, you may be subject to and taxed in respect of short term capital gains or losses that reflect the difference in
the withholding tax liability determined on the Vesting Date and the sales price actually achieved. 
 (c) This Award shall be
subject to the provisions of Section 10(d) of the Plan. 
 11. Miscellaneous. This Agreement shall be binding upon and shall
inure to the benefit of the parties hereto and their respective successors and permitted assigns. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to its principles of conflicts
of law. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and, except as otherwise provided in the Plan, may not be modified other than by written instrument executed by the parties.

 IN WITNESS WHEREOF, this Agreement has been executed as of the date first above written. 
  

			
	ALEXION PHARMACEUTICALS, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

 Exhibit A 
 FORM OF 
 STOCK POWER AND ASSIGNMENT 
 SEPARATE FROM CERTIFICATE 

 STOCK POWER AND ASSIGNMENT 
 SEPARATE FROM CERTIFICATE 
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
_____________________________________ _________________________, ________________ (            ) shares of Common Stock of Alexion Pharmaceuticals, Inc., a Delaware corporation,
standing in the undersigned’s name on the books of said corporation represented by certificate number(s)             , and does hereby irrevocably constitute and appoint
                             as attorney-in-fact, with full power of substitution, to transfer said
stock on the books of said corporation. 
 This Stock Power and Assignment Separate from Certificate is being executed in conjunction with the terms of a
Restricted Stock Award Agreement dated as of                  (the “Award Agreement”). The undersigned hereby acknowledges that the undersigned has
received a copy of the Award Agreement and agrees to be bound by its terms. 
  

	
	Dated:                     
	
	Signature: ______________________________
	
	Printed Name: ___________________________

 INSTRUCTIONS: Please do not complete any blanks other than the “Signature” and “Printed
Name” lines. Do not insert the Date on this assignment.

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