Document:

EX-10.12

 

EXHIBIT 10.12

[D&O Form as of 11/9/06]

[Text that appears in brackets should be added to the agreement as appropriate.]

THERMO FISHER SCIENTIFIC INC.

NONSTATUTORY STOCK OPTION AGREEMENT

Granted Under

[NAME OF EQUITY INCENTIVE PLAN]

1. Grant of Option.

     This agreement evidences the grant by Thermo Fisher Scientific Inc., a Delaware corporation
(the “Company”), on [          ], 200[ ] (the “Grant Date”) to [          ] (the “Participant”), an employee, officer, consultant, or director of the Company or one of
its Subsidiaries, of an Option to purchase, in whole or in part, on the terms provided herein and
in the Company’s [Name of Equity Incentive Plan] (the “Plan”), a total of [          ] shares (the “Shares”) of common stock, $1.00 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 not be an incentive stock
Option as defined in Section 422 of 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. Capitalized terms used in this Agreement
and not otherwise defined shall have the same meaning as in the Plan.

2. Vesting Schedule.
Except as otherwise provided in paragraphs (d) through (g) of Section 3
below and the Plan, this Option will become exercisable (“vest”)
as to___. [The vesting of this Option shall be in accordance with the provision of the Plan.
 In the event of this Option vests based solely on the passage of time, insert the following in the blank above:
 “[     ]
% of the original
number of Shares on the [___] anniversary of the Grant Date and as to
an additional [          ] % of the original number of Shares at the end of [each] anniversary
of the Grant Date following the first anniversary of the Grant Date until the [___]
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.

3. Exercise of Option.

     (a) Form of Exercise. Each election to exercise this Option shall be in accordance
with the instructions described in “The Guide for Employees of Thermo Fisher Scientific Inc. Stock
Option Plans” as may be amended from time to time. 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, officer or
director of, or consultant or advisor to, the Company or any other entity the employees, officers,
directors, consultants, or advisors of which are eligible to receive Option grants under the Plan
(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)-(g) 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.

     (d) Death or Disability. If the Participant dies or becomes disabled (as defined
below) prior to the Final Exercise Date while he or she is an Eligible Participant, this Option
shall vest and become 100% exercisable upon the date of such death or disability and the right to
exercise this Option shall terminate one year following such date (but in no event after the Final
Exercise Date). For the purposes of this Agreement, a Participant shall be deemed to be “disabled”
at such time as the Participant is receiving disability benefits under the Company’s Long Term
Disability Coverage, as then in effect.

     (e) Discharge for Cause. If the Participant, prior to the Final Exercise Date, is
discharged by the Company or a Subsidiary for “Cause” (as defined in the Plan), the right to
exercise this Option shall terminate immediately upon the effective date of such discharge. 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.

     (f) Retirement. If the Participant “retires” from the Company or a Subsidiary prior
to the Final Exercise Date then, subject to Section 3(e) above, this Option shall vest and become
100% exercisable upon the date of such retirement and the right to exercise this Option shall
terminate eighteen months following such date (but in no event after the Final Exercise Date),
provided that the retirement date occurs at least one year after the Grant Date. For the
purposes of this Agreement, a Participant shall be deemed to have “retired” (i) in the event of a
non-employee director of the Company, when he or she ceases to be a director of the Company and
(ii) in the event of an employee of the Company or a Subsidiary, upon his or her resignation from
employment with the Company or a Subsidiary either (A) after the age of 55 and the completion of 10
continuous years service to the Company or a Subsidiary comprising at least 20 hours per week or
(B) after the age of 60 and the completion of 5 continuous years service to the Company or a
Subsidiary comprising at least 20 hours per week.

     (g) Change in Control Event. If the Participant’s employment or service is
terminated by the Company or any Subsidiary without “Cause” (as defined in the Plan) or by the
Participant for “Good Reason” (as defined in the Plan), in each case within 18 months following a
Change in Control Event, this Option shall vest and become 100% exercisable upon the date of

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such termination of employment or service and the right to exercise this Option shall
terminate one year following such date (but in no event after the Final Exercise Date).

4. 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 in accordance with the instructions therefor described in “The Guide for Employees
of Thermo Fisher Scientific Inc. Stock Option Plans” as may be amended from time to time;
provided, however, except as otherwise permitted by the Board, the total tax
withholding where stock is being used to satisfy such tax obligations cannot exceed the Company’s
minimum statutory withholding obligations (based on minimum statutory withholding rates for federal
and state tax purposes, including payroll taxes, that are applicable to such supplemental taxable
income).

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. Notwithstanding the
foregoing, the Company consents to the gratuitous transfer of this Option by the Participant to or
for the benefit of any immediate family member, family trust or family partnership established
solely for the benefit of the Participant and/or an immediate family member thereof;
provided that with respect to such proposed transferee the Company would be eligible to use
a Form S-8 for the registration of the sale of the Common Stock subject to such Option under the
Securities Act of 1933, as amended; and provided further that the Company shall not
be required to recognize any such transfer until such time as the Participant and such permitted
transferee shall, as a condition to such transfer, deliver to the Company a written instrument in
form and substance satisfactory to the Company confirming that such transferee shall be bound by
all of the terms and conditions of this Agreement.

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.

7. No Right To Employment or Other Status. The grant of this Option shall not be
construed as giving the Participant the right to continued employment or any other relationship
with the Company or Subsidiary. The Company and Subsidiaries expressly reserve the right at any
time to dismiss or otherwise terminate its relationship with the Participant free from any
liability or claim under the Plan or this Agreement, except as expressly provided herein.

8. Restrictive Covenants. If the Participant engages in any conduct in breach of any
noncompetition, nonsolicitation or confidentiality obligations to the Company or any Subsidiary
under any agreement, policy or plan of the Company or any Subsidiary, then such conduct shall also
be deemed to be a breach of the terms of the Plan and this Agreement. Upon such breach, this
Option shall be cancelled and, to the extent some or all of this Option was exercised within a
period of 12 months prior to such breach, the Participant shall be required to forfeit to the
Company, upon demand, any cash or Shares acquired by the Participant upon such exercise or sale.

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9. Governing Law. This Option shall be governed by and interpreted in accordance with the
laws of the State of Delaware, without regard to any applicable conflicts of law.

       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.

	 	 	 	 	 	 	 	 	 
	 	 	THERMO FISHER SCIENTIFIC INC.
	 
	 	 	 	 	 	 	 	 
	Dated:                     

	 	By:	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 	 	 

-4-EX-10.13

 

EXHIBIT 10.13

THERMO FISHER SCIENTIFIC INC.

2005 STOCK INCENTIVE PLAN,

as amended and restated on November 9, 2006

STOCK OPTION AGREEMENT

Marijn E. Dekkers

Optionee

	 	 	 
	                                        

	 	$                                        
	Number of Shares of

	 	Exercise Price
	Common Stock Subject

	 	Per Share
	to the Option (“Option Shares”)
	 	 

Vesting Schedule

	 	 	 
	# of Shares
	 	Vesting Date(s)
	                    %
	 	                                         
	                    %
	 	                                         
	                    %
	 	                                         
	                    %
	 	                                         
	                    %
	 	                                        

			
	 	 	 
	 November 9,
2006

Grant Date
	 	November 9, 2013

Expiration Date

     Thermo Fisher Scientific Inc. (the “Company”) confirms the grant to you of an option (the
“Option”) to acquire the number of shares of common stock (the “Common Stock”) specified above, of
the Company, subject to the provisions of the 2005 Stock Incentive Plan, as amended and restated on
November 9, 2006 (the “Plan”) and the terms, conditions and restrictions contained in this
agreement (the “Agreement”). You acknowledge receipt of the Plan and the Agreement for your
records.

	 	 	 
	 

	 	THERMO FISHER SCIENTIFIC INC.
	 
	 	 
	 

	 	By:                                                            

 

 

     1. Grant of Option. This Agreement contains the terms and conditions of a grant of a
nonqualified stock option to purchase the shares of the common stock of the Company (the “Option
Shares”) made to the Optionee, pursuant to the Plan. Attached is a copy of the Plan, which is
incorporated in this Agreement by reference and made a part hereof. This Option is intended to be
a non-statutory stock option under the Internal Revenue Code of 1986, as amended. For purposes of
this Agreement, the defined terms used herein and not otherwise defined shall have the meaning set
forth in that certain Amended and Restated Employment Agreement, dated as of November 21, 2002, by
and between the Optionee and the Company, as the same may be amended from time to time (the
“Employment Agreement”).

     2. Exercisability and Vesting of Option. The Option may be exercised only to the extent the
Option shall have vested in accordance with this Agreement. The Option shall vest and become
exercisable in accordance with the terms of this Section 2.

     (a) General Rule. Except as otherwise provided in this Section 2, the Option shall vest
and be exercisable in accordance with the vesting schedule set forth on the first page of
this Agreement, provided that on each vesting date the Optionee is then, and has been since
the Grant Date, continuously employed by the Company or its Affiliates.

     (b) Exceptions. Notwithstanding subsection (a) above, the Option shall fully vest and
become exercisable as to 100% of the Option Shares in the following circumstances:

     (i) In the event of the Optionee’s death or Disability, all Option Shares that
have not previously vested shall immediately vest; provided that the Optionee was
employed by the Company or its Affiliates immediately prior to the date of death or
Disability.

     (ii) In the event the Optionee’s employment is terminated by the Company
without Cause (as the term “Cause” is defined in paragraph (c) below) or in the
event the Optionee terminates employment for Good Reason (it being understood in
this context, a termination of employment by the Company without Cause or by the
Optionee with Good Reason does not include a termination due to the Optionee’s death
or Disability or termination with Cause or without Good Reason), all Option Shares
that have not previously vested shall immediately vest.

          (c) Forfeiture. In the event (i) the Company terminates the Optionee’s employment for Cause,
notwithstanding anything to the contrary set forth in the Employment Agreement all Option Shares
underlying this Option that have not previously vested on such date and all unexercised Option
Shares underlying this Option on such date shall be immediately forfeited to the Company, (ii) the
Optionee terminates employment on his own initiative (it being understood that in this context, a
termination of employment on the Optionee’s own initiative does not include termination due to his
death, Disability or with Good Reason), all Option Shares underlying this Option that have not
previously vested on such date shall be immediately forfeited to the Company or (iii) the Optionee
engages in any conduct in breach of any noncompetition, nonsolicitation or confidentiality
obligations to the Company

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under any agreement, policy or plan of the Company, such conduct shall also be deemed to be a
breach of the terms of the Plan and this Agreement and upon such breach, this Option shall be
cancelled and, to the extent some or all of this Option was exercised within a period of 12 months
prior to such breach, the Optionee shall be required to forfeit to the Company, upon demand, any
cash or Option Shares acquired by the Optionee upon such exercise or sale. For the purposes of
this Agreement and notwithstanding anything to the contrary set forth in the Employment Agreement,
“cause” shall mean (i) the commitment of a felony or any crime involving moral turpitude by the
Optionee, that is materially injurious to the Company or (ii) in carrying out the Optionee’s
duties, the Optionee intentionally engages in conduct that constitutes gross neglect or gross
misconduct that is materially injurious to the Company. The Optionee shall be considered to have
been discharged for cause if the Company determines, within 30 days after the Optionee’s
resignation, that discharge for cause was warranted.

     3. Termination of Option. This Option shall terminate on the date that is the earliest of:
(a) the Expiration Date of the Option set forth on the first page of this Agreement, (b) three (3)
years after the Termination Date if the Optionee is terminated due to death or Disability, or the
Optionee is terminated by the Company without Cause, or the Optionee’s employment terminates upon
the expiration of the Term, or the Optionee terminates employment for Good Reason, (c)
notwithstanding anything to the contrary set forth in the Employment Agreement, the Termination
Date in the event the Company terminates the Optionee’s employment for Cause, or (d) 90 days after
the Termination Date in the event the Optionee terminates employment on his own initiative (it
being understood that in this context, a termination of employment on the Optionee’s own initiative
does not include termination due to his death, Disability or with Good Reason).

     4. No Assignment of Rights. Except for assignments or transfers by will or applicable laws of
descent and distribution, the Optionee’s rights and interests under this Agreement and the Plan may
not be assigned or transferred in whole or in part either directly or by operation of law or
otherwise, including without limitation by way of execution, levy, garnishment, attachment, pledge
or bankruptcy, and no such rights or interests shall be subject to any of the Optionee’s
obligations or liabilities. Notwithstanding the foregoing, the Company consents to the transfer of
this Option by the Optionee to an immediate member of his family, a family trust or family
partnership, provided that the Company shall not be required to recognize any such transfer or
assignment until such time as the Company, the transferee and the Optionee execute a written
assignment of the Option in the form specified by the Company and upon the terms satisfactory to
the Company.

     5. Exercise of Option; Delivery and Deposit of Certificate(s). The Optionee (or in the case
of his death, his legal representative) may exercise the Option (to the extent the Option has
vested) in whole or in part in accordance with the instructions described in “The Guide for
employees of Thermo Fisher Scientific Inc. Stock Option Plans,” as may be amended from time to time
(the “Guide”).

     6. Rights With Respect to Option Shares. Prior to the date the Option is exercised, the
Optionee shall not be deemed for any purpose to be a stockholder of the Company with respect to any
of the Option Shares. Upon issuance to the Optionee of the Option Shares,

3

 

the Optionee shall have ownership of such Option Shares, including the right to vote and receive
dividends, subject, however, to the other restrictions and limitations imposed thereon pursuant to
the Plan and this Agreement and which may be now or hereafter imposed by the Certificate of
Incorporation or the By-Laws of the Company.

     7. Adjustments in the Event of Certain Transactions. The provisions of the Plan covering the
treatment of Options in the event of (a) stock dividends, stock splits, or combination of shares,
or other distribution with respect to holders of Common Stock other than normal cash dividends
occurring after the date of this Agreement and (b) recapitalizations, mergers or consolidations
involving the Company, any transaction in which the Company becomes a subsidiary of another entity,
any sale or other disposition of all or a substantial portion of the assets of the Company or any
similar transaction, as determined by the Board, (any of the foregoing, a “covered transaction” as
defined in the Plan) occurring while the Option is outstanding, are hereby made applicable
hereunder and are incorporated herein by reference.

     8. Reservation of Shares. The Company shall at all times during the term of this Agreement
reserve and keep available such number of shares of the Common Stock as will be sufficient to
satisfy the requirements of this Agreement and shall pay all fees and expenses necessarily incurred
by the Company in connection with this Agreement and the issuance of Option Shares.

     9. Taxes. No later than the date on which part or all of the value of any Option Shares
received under the Plan first becomes includible in the Optionee’s gross income for income tax
purposes, the Optionee shall satisfy his obligations to pay any federal, state or local taxes
required to be withheld with respect to such income in accordance with the provisions of the Guide.

     10. Determination of Rights. Any dispute or disagreement that may arise under or as a result
of or pursuant to the Plan or this Agreement shall be determined by the Board, in its sole
discretion, and any decision made by the Board (as defined by the Plan) in good faith shall be
conclusive on all parties. The interpretation and construction by the Board of any provision of,
and the determination of any question arising under, this Agreement, the Plan, or any rule or
regulation adopted pursuant to the Plan, shall be final and conclusive. Notwithstanding the
foregoing, any dispute relating to the vesting provisions in Section 2(b) of this Agreement shall
be determined in accordance with Section 14 of the Employment Agreement.

     11. Limitation of Employment Rights. The award of this Option does not entitle the Optionee
to any benefit other than that granted under the Plan; any benefits granted under the Plan are not
part of the Optionee’s ordinary salary, and shall not be considered as part of such salary in the
event of severance, redundancy or resignation.

     12. Communications. Any communication or notice required or permitted to be given under this
Agreement shall be in writing, and mailed by registered or certified mail or delivered in hand, if
to the Company to its Stock Option Manager c/o Thermo Fisher Scientific Inc., 81 Wyman Street, Post
Office Box 9046, Waltham, Massachusetts 02454-9046, and if to the Optionee, to the address last
furnished by the Optionee to the Company.

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