Document:

Amendment #1 to Registrant's 2000 Stock Incentive Plan

 Exhibit 10.32 
 AMENDMENT NO. 1 TO 
 DISCOVERY PARTNERS INTERNATIONAL, INC. 
 2000 STOCK INCENTIVE PLAN 
 The
Discovery Partners International, Inc. 2000 Stock Incentive Plan (the “Plan”) be and hereby is amended as follows: 
 1. Article
Five, Section I.A. is hereby deleted in its entirety and a new Article Five, Section I.A. is inserted in lieu thereof which reads as follows: 
 “Notwithstanding anything to the contrary contained herein: 
 (1) Each non-employee
director who serves on the Board immediately after the closing of the merger (the “Merger”) of Darwin Corp. with and into Infinity Pharmaceuticals, Inc. pursuant to the Agreement and Plan of Merger and Reorganization, dated as of April 11,
2006, by and among the Corporation, Darwin Corp. and Infinity Pharmaceuticals, Inc. (as defined below) shall receive a Non-Statutory Option to purchase 112,500 shares of Common Stock (the “Initial Option”). Shares of Common Stock subject
to the Initial Option will become exercisable as to 37,500 of the shares underlying such Initial Option on the first anniversary of the date of grant and the remainder will be exercisable in quarterly installments of 9,375 shares beginning at the
end of the first quarter thereafter, provided that the holder of the Initial Option continues to serve as a director. 
 (2)
Each non-employee director serving as a director on the third anniversary of (a) the closing of the Merger, in case of directors serving on the Board immediately after the closing of the Merger, or (b) his or her election to the Board, in the case
of directors elected after the closing of the Merger, shall, on the date of the first Annual Stockholders Meeting following such third anniversary and on the date of each Annual Stockholders Meeting thereafter, receive a Non-Statutory Option to
purchase 22,500 shares of Common Stock (an “Annual Option”). Shares of Common Stock subject to the Annual Option will be exercisable in equal quarterly installments of 5,625 shares beginning at the end of the first quarter after the date
of grant, provided that the holder of the Annual Option continues to serve as a director. 
 (3) The non-employee director
who serves as the lead outside director of the Board shall receive an additional Non-Statutory Option to purchase 37,500 shares of Common Stock upon the date of commencement of service in such position and upon each anniversary thereafter. Shares of
Common Stock subject to each such option will be exercisable in equal quarterly installments of 9,375 shares beginning at the end of the first quarter after the date of grant, provided that the holder of such option continues to serve as the lead
outside director. 
 (4) The non-employee director who serves as the lead research and development director of the Board and
the non-employee director who serves as the chair of the audit committee of the Board shall each receive an additional Non-Statutory Option to purchase 15,000 shares of Common Stock upon the date of commencement of service in such position and each
anniversary thereafter. Shares of Common Stock subject to such options will be exercisable in equal quarterly installments of 3,750 shares beginning at the end of the first quarter after the date of grant, provided that the holder of the option
continues to serve as the lead research and development director or the chair of the audit committee, as applicable. 
 (5)
The non-employee director who serves as the chair of the compensation committee of the Board and the non-employee director who serves as the chair of the corporate governance committee of the Board shall each receive an additional Non-Statutory
Option to purchase 7,500 shares upon the commencement of service in such position and each anniversary thereafter. Shares of Common Stock subject to such options will be exercisable in equal quarterly installments of 1,875 shares beginning at the
end of the first quarter after the date of grant, provided that the holder of the option continues to serve as the chair of the compensation committee or the chair of the corporate governance committee, as applicable.” 
  

 1 

	2.	Article Five, Section I.D. is hereby deleted in its entirety and a new Article Five, Section I.D. is inserted in lieu thereof which reads as follows: 

  

	“I.D.	[Intentionally omitted.]” 

  

 2 

 AMENDMENT NO. 2 TO 
 DISCOVERY PARTNERS INTERNATIONAL, INC. 
 2000 STOCK INCENTIVE PLAN 
 The Discovery Partners International, Inc. 2000 Stock Incentive Plan (the “Plan”) be and hereby is amended as follows: 
 1. Effective immediately following the Effective Time (as defined in the Agreement and Plan of Merger and Reorganization by and among the Corporation,
Darwin Corp. and Infinity Pharmaceuticals, Inc. dated as of April 11, 2006 (the “Merger Agreement”)), Article One, Section V.E. is hereby deleted in its entirety and a new Article One, Section V.E. is inserted in lieu thereof which
reads as follows: 
 “E. If any change is made to the Common Stock by reason of any stock split, stock dividend,
recapitalization, combination of shares, exchange of shares or other change affecting the outstanding Common Stock as a class without the Corporation’s receipt of consideration, appropriate adjustments shall be made by the Plan Administrator to
(i) the maximum number and/or class of securities issuable under the Plan, (ii) the maximum number and/or class of securities for which any one person may be granted stock options, separately exercisable stock appreciation rights and
direct stock issuances under the Plan per calendar year, (iii) the number and/or class of securities for which grants are subsequently to be made under the Automatic Option Grant Program to new and continuing non-employee Board members,
(iv) the number and/or class of securities and the exercise price per share in effect under each outstanding option under the Plan, (v) the number and/or class of securities and exercise price per share in effect under each outstanding
option transferred to this Plan from the Predecessor Plan, (vi) the maximum number and/or class of securities by which the share reserve is to increase automatically each calendar year pursuant to the provisions of Section V.B. of this Article
One and (vii) the maximum number of shares with respect to which awards other than options and stock appreciation rights may be granted under this Plan. Such adjustments to the outstanding options are to be effected in a manner which shall
preclude the enlargement or dilution of rights and benefits under such options. The adjustments determined by the Plan Administrator shall be final, binding and conclusive.” 
 2. Effective immediately following the Effective Time, a new Section V.F. is inserted in Article One, which reads as follows: 
 “The maximum number of shares with respect to which awards other than options and stock appreciation rights may be granted under
this Plan shall be 4,850,000.” 
 3. Effective immediately following the Effective Time, Article Two, Section IV of the Plan is hereby
deleted in its entirety and a new Article Two, Section IV is inserted in lieu thereof which reads as follows: 
 “IV.
LIMITATION ON REPRICING 
 Unless such action is approved by the Corporation’s stockholders: (i) no outstanding
option granted under this Plan may be amended to provide an exercise price per share that is lower than the then-current exercise price per share of such outstanding option (other than adjustments pursuant to Article One, Section V.E.) and
(2) the Board may not cancel any outstanding option (whether or not granted under this Plan) and grant in substitution therefor new awards under this Plan covering the same or a different number of shares of Common Stock and having an exercise
price per share lower than the then-current exercise price per share of the cancelled option.” 
  

 3 

 AMENDMENT NO. 3 TO 
 DISCOVERY PARTNERS INTERNATIONAL, INC. 
 2000 STOCK INCENTIVE PLAN

 The Discovery Partners International, Inc. 2000 Stock Incentive Plan (the “Plan”) be and hereby is amended as follows:

 1. Effective immediately following the Effective Time (as defined in the Merger Agreement (as defined below)), Article One, Section
V.A. of the Plan is hereby deleted in its entirety and a new Article One, Section V.A. is inserted in lieu thereof which reads as follows: 
 “A. The stock issuable under the Plan shall be shares of authorized but unissued or reacquired Common Stock, including shares repurchased by the Corporation on the open market. Subject to adjustments as provided for herein, the number
of shares of Common Stock reserved for issuance under the Plan shall be equal to the sum of: 
 (a) the number of shares of the
Corporation’s Common Stock issuable upon exercise of any options with an exercise price equal to or greater than $3.00 per share (prior to giving effect to the Reverse Stock Split (as defined in the Merger Agreement)) issued and outstanding
under, and the number of shares of the Corporation’s Common Stock issued and outstanding and subject to a right of repurchase in favor of the Corporation pursuant to the Plan as of immediately prior to the closing of the merger (the
“Merger”) of Darwin Corp. with and into Infinity Pharmaceuticals, Inc. (“Infinity”) pursuant to the Merger Agreement (as defined below); plus 
 (b) the number of shares of the Corporation’s Common Stock issuable to holders of options to purchase common stock of Infinity assumed by the Corporation, and the number of shares of the Corporation’s Common
Stock issued to holders of common stock of Infinity issued pursuant to Infinity’s stock incentive plans and subject to a right of repurchase of Infinity as of immediately prior to the closing of the Merger, pursuant to the Merger Agreement;
plus 
 (c) the number of shares of the Corporation’s Common Stock available for future grant under the Plan as of immediately prior to
the closing of the Merger; plus 
 (d) the number of shares equal to seven percent (7%) of the Corporation’s issued and outstanding
Common Stock, as determined immediately following the Effective Time, calculated on a fully-diluted basis at such time, after giving effect to the increase in shares reserved for issuance under the Plan pursuant to this Amendment No. 2 to the Plan.

 Notwithstanding the foregoing, in no event shall the number of shares reserved for issuance under the Plan exceed 9,700,000 shares,
subject to adjustment as provided for herein. 
 For purposes of clause (d), the Corporation’s fully-diluted issued and outstanding
Common Stock shall be equal to the sum of: 
 (i) the Corporation’s issued and outstanding Common Stock; plus 
 (ii) all shares of the Corporation’s Common Stock issuable upon exercise, exchange or conversion of any outstanding option, warrant or other right
that is exercisable, exchangeable or convertible into the Corporation’s Common Stock, including, without limitation, any options with an exercise price equal to or greater than $3.00 per share (prior to giving effect to the Reverse Stock Split)
or other awards issued and outstanding under the Plan, and shares of Common Stock subject to future issuance pursuant to outstanding grants of deferred issuance restricted stock of the Corporation; plus 
 (iii) the increase in shares reserved for issuance under the Plan pursuant to this Amendment No. 2 to the Plan; plus 
 (iv) the issuance of all of the shares of Common Stock of the Corporation issuable pursuant to the terms of that certain Agreement and Plan of Merger and
Reorganization by and among the Corporation, 

  

 4 

 
Darwin Corp. and Infinity dated as of April 11, 2006 (the “Merger Agreement”), including, without limitation, shares of Common Stock issuable to
holders of options to purchase common stock and warrants to purchase preferred stock of Infinity Pharmaceuticals, Inc. assumed by the Corporation pursuant to the Merger Agreement.” 
 2. Effective immediately prior to the effective time of the Reverse Stock Split, Article One, Section V.B. of the Plan is hereby deleted in its entirety
and a new Article One, Section V.B. is inserted in lieu thereof which reads as follows: 
 “The number of shares of Common Stock
available for issuance under the Plan shall automatically increase on the first trading day of January each calendar year during the term of the Plan, beginning with calendar year 2001, by an amount equal to four percent (4%) of the total number of
shares of Common Stock outstanding on the last trading day in December of the immediately preceding calendar year, but in no event shall any such annual increase exceed two million (2,000,000) shares. Notwithstanding anything to the contrary
contained herein, including without limitation, the provisions of Article One, Section V.E., the maximum number by which the share reserve is to increase automatically each calendar year set forth in this Article One, Section V.B. shall not be
adjusted to give effect to the Reverse Stock Split (as defined in the Merger Agreement).” 
 3. Effective immediately prior to the
effective time of the Reverse Stock Split, Article One, Section V.C. of the Plan is hereby deleted in its entirety and a new Article One, Section V.C. is inserted in lieu thereof which reads as follows: 
 “No one person participating in the Plan may receive stock options, separately exercisable stock appreciation rights and direct stock issuances for
more than five hundred thousand (500,000) shares of Common Stock in the aggregate per calendar year. Notwithstanding anything to the contrary contained herein, including without limitation, the provisions of Article One, Section V.E., the per
calendar year limit set forth in this Article One, Section V.C. shall not be adjusted to give effect to the Reverse Stock Split (as defined in the Merger Agreement).” 
 4. Effective immediately following the Effective Time (as defined in the Merger Agreement), Article Four, Section I.A.1. of the Plan is hereby deleted in
its entirety and a new Article Four, Section I.A.1. is inserted in lieu thereof which reads as follows: 
 “The purchase per share, if
any, shall be determined by the Plan Administrator.” 
  

 5Form of Incentive Stock Option Agreement

 Exhibit 10.33 
 INFINITY PHARMACEUTICALS, INC. 
 Incentive Stock Option Agreement  
 Granted Under 2000 Stock Incentive Plan, as amended 
  

	1.	Grant of Option. 

 This agreement evidences the
grant by Infinity Pharmaceuticals, Inc., a Delaware corporation (the “Company”), on             , 200[__] (the “Grant Date”) to
[                    ], an employee of the Company (the “Participant”), of an option to purchase, in whole or in part, on the
terms provided herein and in the Company’s 2000 Stock Incentive Plan, as amended (the “Plan”), a total of
[                    ] shares (the “Shares”) of common stock, $0.001 par value per share, of the Company (“Common
Stock”) at $[            ] per Share. Unless earlier terminated, this option shall expire at 5:00 p.m., Eastern time, on
[                    ] (the “Final Exercise Date”). 
 It is intended that the option evidenced by this agreement shall be an incentive stock option as defined in Section 422 of the Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder
(the “Code”). Except as otherwise indicated by the context, the term “Participant”, as used in this option, shall be deemed to include any person who acquires the right to exercise this option validly under its terms. 

 

	2.	Vesting Schedule. 

 This option will become
exercisable (“vest”) as to         % of the original number of Shares on the [first] anniversary of the Grant Date and as to an additional
        % of the original number of Shares at the end of each successive [three-month] period following the first anniversary of the Grant Date until the [fourth] anniversary of the Grant Date.

 The right of exercise shall be cumulative so that to the extent the option is not exercised in any period to the maximum extent
permissible it shall continue to be exercisable, in whole or in part, with respect to all Shares for which it is vested until the earlier of the Final Exercise Date or the termination of this option under Section 3 hereof or the Plan.

  

	3.	Exercise of Option. 

 (a) Form of Exercise.
Each election to exercise this option shall be in writing in the form attached to this Agreement as Exhibit A, signed by the Participant, and received by the Company at its principal office, accompanied by this agreement, and payment in
full in the manner provided in the Plan. The Participant may purchase less than the number of shares covered hereby, provided that no partial exercise of this option may be for any fractional share. 
 (b) Continuous Relationship with the Company Required. Except as otherwise provided in this Section 3, this option may not be exercised
unless the Participant, at the time he or she exercises this option, is, and has been at all times since the Grant Date, an employee or officer of, or consultant or advisor to, the Company or any parent or subsidiary of the Company as defined in
Section 424(e) or (f) of the Code (an “Eligible Participant”). 

 (c) Termination of Relationship with the Company. If the Participant ceases to be an Eligible
Participant for any reason, then, except as provided in paragraphs (d) and (e) below, the right to exercise this option shall terminate three months after such cessation (but in no event after the Final Exercise Date), provided
that this option shall be exercisable only to the extent that the Participant was entitled to exercise this option on the date of such cessation. Notwithstanding the foregoing, if the Participant, prior to the Final Exercise Date, violates
the non-competition or confidentiality provisions of any employment contract, confidentiality and nondisclosure agreement or other agreement between the Participant and the Company, the right to exercise this option shall terminate immediately upon
such violation. 
 (d) Exercise Period Upon Death or Disability. If the Participant dies or becomes disabled (within the meaning of
Section 22(e)(3) of the Code) prior to the Final Exercise Date while he or she is an Eligible Participant and the Company has not terminated such relationship for “cause” as specified in paragraph (e) below, this option shall be
exercisable, within the period of one year following the date of death or disability of the Participant, by the Participant (or in the case of death by an authorized transferee), provided that this option shall be exercisable only to
the extent that this option was exercisable by the Participant on the date of his or her death or disability, and further provided that this option shall not be exercisable after the Final Exercise Date. 
 (e) Termination for Cause. If, prior to the Final Exercise Date, the Participant’s employment is terminated by the Company for Cause (as
defined below), the right to exercise this option shall terminate immediately upon the effective date of such termination of employment. If the Participant is party to an employment or severance agreement with the Company that contains a definition
of “cause” for termination of employment, “Cause” shall have the meaning ascribed to such term in such agreement. Otherwise, “Cause” shall mean willful misconduct by the Participant or willful failure by the Participant
to perform his or her responsibilities to the Company (including, without limitation, breach by the Participant of any provision of any employment, consulting, advisory, nondisclosure, non-competition or other similar agreement between the
Participant and the Company), as determined by the Company, which determination shall be conclusive. The Participant shall be considered to have been discharged for Cause if the Company determines, within 30 days after the Participant’s
resignation, that discharge for cause was warranted. 
  

	4.	Tax Matters. 

 (a) Withholding. No Shares
will be issued pursuant to the exercise of this option unless and until the Participant pays to the Company, or makes provision satisfactory to the Company for payment of, any federal, state or local withholding taxes required by law to be withheld
in respect of this option. 
 (b) Disqualifying Disposition. If the Participant disposes of Shares acquired upon exercise of this
option within two years from the Grant Date or one year after such Shares were acquired pursuant to exercise of this option, the Participant shall notify the Company in writing of such disposition. 
  

 - 2 - 

	5.	Nontransferability of Option. 

 This option may not
be sold, assigned, transferred, pledged or otherwise encumbered by the Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the lifetime of the Participant, this option shall be
exercisable only by the Participant. 
  

	6.	Provisions of the Plan. 

 This option is subject to
the provisions of the Plan, a copy of which is furnished to the Participant with this option. 
 IN WITNESS WHEREOF, the Company has caused
this option to be executed under its corporate seal by its duly authorized officer. This option shall take effect as a sealed instrument. 
  

							
		 	INFINITY PHARMACEUTICALS, INC.
			
	Dated:  _______________	 	 By:
	 	  
		 		 	 Name:
	 	  
		 		 	 Title:
	 	  

  

 - 3 - 

 PARTICIPANT’S ACCEPTANCE 
 The undersigned hereby accepts the foregoing option and agrees to the terms and conditions thereof. The undersigned hereby acknowledges receipt of a copy
of the Company’s 2000 Stock Incentive Plan, as amended. 
  

			
	PARTICIPANT:
	
	  
		
	Address:	 	  
		
		 	  

  

 - 4 - 

 Exhibit A 
 NOTICE OF STOCK OPTION EXERCISE 
 Date: ____________ 
 Infinity Pharmaceuticals, Inc. 
 780 Memorial Drive 
 Cambridge, MA 02139 
 Attention: Treasurer 
 Dear Sir or Madam: 
 I am the holder of Incentive Stock Option granted to me under the Infinity
Pharmaceuticals, Inc. (the “Company”) 2000 Stock Incentive Plan, as amended, on __________ for the purchase of __________ shares of Common Stock of the Company at a purchase price of $__________ per share. 
 I hereby exercise my option to purchase _________ shares of Common Stock (the “Shares”), for which I have enclosed __________ in the amount of
________. Please register my stock certificate as follows: 
  

			
	Name(s):	  	________________________________
		
		  	________________________________
		
	Address:	  	________________________________
		
	Tax I.D. #:	  	________________________________

  

	
	Very truly yours,
	
	   
	(Signature)

  

 - 5 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}]]