Document:

Exhibit 10.16

 

Date:

 

Non-Statutory Stock
Option

 

Granted

 

 

by

 

 

ABIOMED, INC.

 

(hereinafter called the “Company”)

 

 

to

 

 

 

 

 

(hereinafter called the “Holder”)

 

 

under the

 

 

2000 STOCK INCENTIVE PLAN

 

 

WITNESSETH:

 

 

For valuable consideration, the receipt of which is
hereby acknowledged, the Company hereby grants to the Holder the following
option:

 

FIRST:  Subject
to the terms and conditions hereinafter set forth, the Holder is hereby given
the right and option to purchase from the Company an aggregate of                  
shares of Common Stock of the Company, $.01 par value, at the time and in the
manner hereinafter stated.  Schedule A
attached hereto and incorporated herein sets forth with respect to this option
(i) its expiration date, (ii) its exercise price per share, (iii) its vesting
rate, and (iv) certain other terms and conditions applicable to this option and
incorporated herein.

 

 

This option is and shall be subject in every respect
to the provisions of the Company’s 2000 Stock Incentive Plan, as amended from
time to time (the “Plan”), which is incorporated herein by reference and made a
part hereof.  In the event of any
conflict or inconsistency between the terms hereof and those of the Plan, the
latter shall prevail.  References herein
to the Committee shall mean the Committee as defined in the Plan.

 

This option shall be exercised by the delivery of
written notice of exercise to the Company (the “Notice”) setting forth the
number of shares with respect to which the option is to be exercised and the
address to which the certificates for such shares are to be mailed, together
with (i) cash or certified or bank check payable to the order of the Company
for an amount equal to the option price for the number of shares specified in
the Notice, or (ii) with the consent of the Committee, shares of Common Stock
of the Company which are not then subject to restrictions, have been owned by
the Holder for a period of at least six (6) months on the date of surrender and
have a fair market value on the date of surrender not less than the option
price for the shares as to which such option is being exercised, (iii) irrevocable
instructions to a broker to promptly deliver to the Company cash or a check
payable and acceptable to the Company to pay the purchase price, provided that
in the event the Holder chooses to pay the purchase price as so provided, the
Holder and the broker shall comply with such procedures and enter into such
agreements of indemnity and other agreements as the Committee shall prescribe
as a condition of such payment procedure and provided further that the Company
need not act upon such exercise notice until the Company receives full payment
of the exercise price, or (iv) with the consent of the Committee, such other
consideration (including, without limitation, by delivery of a promissory note
of the Holder payable on such terms as are specified by the Committee) which
the Committee determines are consistent with the purpose of the Plan and with
applicable laws and regulations.   For the purpose of this paragraph FIRST and
paragraph SEVENTH, the fair market value per share of the Common Stock on any
given date means the price per share of the Common Stock on such date as
reported by a nationally recognized stock exchange, or, if the Common Stock is
not listed on such an exchange, as reported by NASDAQ, or, if the Stock is not
quoted on NASDAQ, the fair market value of the Common Stock as determined by
the Committee.

 

The delivery of certificates representing shares of
Common Stock to be purchased pursuant to the exercise of this option will be
contingent upon receipt from the Holder (or a purchaser acting in his stead in
accordance with the provisions of this option) by the Company of the full
purchase price for such shares and the fulfillment of any other requirements
contained in this option or imposed by applicable law.

 

The Holder shall, no later than the date as of which
the value of any Common Stock or other amounts received under this option first
becomes includable in the gross income of the Holder for Federal income tax
purposes, pay to the Company, or make arrangements satisfactory to the
Committee regarding payment of any Federal, state, local and/or payroll taxes
of any kind required by law to be withheld with respect to such income.  The Company and its Subsidiaries shall, to
the extent permitted by law, have the right to deduct any such taxes from any
payment of any kind otherwise due to the Holder.  The Holder may elect, with the consent of the
Committee, to have such tax withholding obligation satisfied, in whole or in
part, by (i) authorizing the Company to withhold from shares of Common
Stock to be issued pursuant to 

 

2

 

this option a number of shares with an aggregate fair market value (as
of the date the withholding is effected) that would satisfy the minimum
withholding amount due with respect to this option, or (ii) transferring to the
Company shares of Common Stock owned by the Holder for a period of at least six
months which are not subject to restrictions on transfer and with an aggregate
fair market value (as of the date the minimum withholding is effected) that
would satisfy the withholding amount due.

 

SECOND:  The
Company, in its discretion, may file a registration statement on Form S-8 under
the Securities Act of 1933 to register shares of Common Stock reserved for
issuance under the Plan.  At any time at
which such a registration statement is not in effect, it shall be an additional
condition precedent to any exercise of this option that the Holder shall
deliver to the Company a customary “investment letter” satisfactory to the
Company and its counsel in which, among other things, the Holder shall state
that the Holder is purchasing the shares for investment and acknowledges that
they are not freely transferable except in compliance with state and federal
securities laws.

 

THIRD:  Within a
reasonable time after receipt by the Company of the Notice and payment for any
shares to be purchased hereunder and, if required as a condition to exercise,
the investment letter described in paragraph SECOND, the Company will deliver
or cause to be delivered to the Holder (or if any other individual or
individuals are exercising this option, to such individual or individuals) at
the address specified in the Notice a certificate or certificates for the
number of shares with respect to which the option is then being exercised,
registered in the name or names of the individual or individuals exercising the
option, either alone or jointly with another person or persons with rights of
survivorship, as the individual or individuals exercising the option shall
prescribe in writing to the Company at or prior to such purchase; provided,
however, that if any law or regulation or order of the Securities and Exchange
Commission or other body having jurisdiction in the premises shall require the
Company or the Holder (or the individual or individuals exercising this option)
to take any action in connection with the shares then being purchased, the date
for the delivery of the certificates for such shares shall be extended for the
period necessary to take and complete such action, it being understood that the
Company shall have no obligation to take and complete any such action.  The Company may imprint upon such certificate
such legends referencing stock transfer restrictions which counsel for the
Company or the Committee considers appropriate. 
Delivery by the Company of the certificates for such shares shall be
deemed effected for all purposes when the Company or a stock transfer agent of
the Company shall have deposited such certificates in the United States mail,
addressed to the Holder, at the address specified in the Notice.

 

FOURTH:  The
existence of this option shall not affect in any way the right or power of the
Company or its stockholders to make or authorize any or all adjustments,
recapitalizations, reorganizations or other changes in the Company’s capital
structure or its business, or any merger or consolidation of the Company, or
any issue of Common Stock, or any issue of bonds, debentures, preferred or
prior preference stock or other capital stock ahead of or affecting the Common
Stock or the rights thereof, or the dissolution or liquidation of the Company,
or any sale or transfer of all or any part of its assets or business, or any
other corporate act or proceeding, whether of a similar character or otherwise.

 

3

 

In the event that the Company effects a stock
dividend, stock split or similar change in capitalization affecting the Common
Stock, the Committee shall make appropriate adjustments in  (i) the number and kind of shares
remaining subject to this option, and (ii) the option price in respect of
such shares.  In the event of any merger,
consolidation, dissolution or liquidation of the Company, the Committee in its
sole discretion may, as to this option, make such substitution or adjustment in
the number and purchase price (if any) of shares subject to this option as it
may determine and as may be permitted by the terms of such transaction, or
accelerate, amend or terminate this option upon such terms and conditions as it
shall provide (which, in the case of the termination of the vested portion of
this option, shall require payment or other consideration which the Committee
deems equitable in the circumstances), subject, however, to the following
provisions of this paragraph Fourth.

 

Upon the occurrence of a Change of Control as defined
in this paragraph Fourth:

 

(i) subject to the provisions of clause (iii) below,
after the effective date of such Change of Control, the Holder of this option
shall be entitled, upon exercise of this option, to receive, in lieu of shares
of Common Stock shares of such stock or other securities, cash or property  as the holders of shares of Common Stock
received in connection with the Change of Control;

 

(ii) the Committee may accelerate the time for
exercise of, and waive all conditions and restrictions on, the unexercised and
unexpired portion of this option, effective upon a date prior or subsequent to
the effective date of such Change of Control, specified by the Committee; or

 

(iii) this option may be cancelled by the Committee as
of the effective date of any such Change of Control provided that
(x) notice of such cancellation shall be given to the Holder and
(y) the Holder shall have the right to exercise this option to the extent
that the same is then exercisable or, in full, if the Committee shall have
accelerated the time for exercise of this option, during the thirty (30) day
period preceding the effective date of such Change of Control.

 

“Change of Control”
shall mean the occurrence of any one of the following events:

 

(i) any “person”
(as such term is used in Sections 13(d) and 14(d)(2) of the Securities Exchange
Act of 1934 (the “Act”)) becomes a “beneficial
owner” (as such term is defined in Rule 13d-3 promulgated under the
Act) (other than the Company, any trustee or other fiduciary holding securities
under an employee benefit plan of the Company, or any corporation owned,
directly or indirectly, by the stockholders of the Company in substantially the
same proportions as their ownership of stock of the Company), directly or
indirectly, of securities of the Company representing fifty percent (50%) or
more of the combined voting power of the Company’s then outstanding securities;
or

 

(ii) the stockholders of the Company approve a merger
or consolidation of the Company with any other corporation or other entity,
other than a merger or consolidation which would result in the voting
securities of the Company outstanding immediately prior thereto continuing to
represent (either by remaining outstanding or by being converted into voting 

 

4

 

securities of the surviving entity) more than sixty-five percent (65%)
of the combined voting power of the voting securities of the Company or such
surviving entity outstanding immediately after such merger or consolidation; or

 

(iii) the stockholders of the Company approve a plan of
complete liquidation of the Company or an agreement for the sale or disposition
by the Company of all or substantially all of the Company’s assets.

 

FIFTH:  No
person shall, by virtue of the granting of this option to the Holder, be deemed
to be a holder of any shares purchasable under this option or to be entitled to
the rights or privileges of a holder of such shares unless and until this
option has been exercised with respect to such shares and they have been issued
pursuant to that exercise of this option.

 

The Company shall, at all times while any portion of
this option is outstanding, reserve and keep available, out of shares of its
authorized and unissued stock or reacquired shares, a sufficient number of
shares of its Common Stock to satisfy the requirements of this option; shall
comply with the terms of this option promptly upon exercise of the option
rights; and shall pay all fees or expenses necessarily incurred by the Company
in connection with the issuance and delivery of shares pursuant to the exercise
of this option.

 

SIXTH:  This
option is not transferable by the Holder otherwise than by will or under the
laws of descent and distribution.  The
granting of this option shall not impose upon the Company any obligation to appoint
the Holder a Director of the Company or to continue the service of the Holder
as a Director of the Company.  The right
of the Company to terminate the service of the Holderas a Director of the
Compny shall not be diminished or affected by reason of the fact that this option
has been granted to such Holder.

 

This option is exercisable, subject to the vesting
rate and certain other terms and conditions contained in Schedule A  attached hereto and incorporated herein, at
any time prior to the date of expiration of this option and during the Holder’s
lifetime, only by the Holder.  If the
service of the Holder as a Director of the Company is terminated, then after
such termination the option may be exercised as to all shares with respect to
which the Holder could exercise the option on the date of termination (the “Termination
Date”), and which shares have not been previously purchased, within one of the
following periods of time as applicable:

 

(i)                                     in
the case of termination by reason of death, until the earlier of the expiration
of the option or one (1) year after the Termination Date; and

 

(ii)                                  in
all other cases other than termination for cause, until the earlier of the
expiration of  the option or the date
which is ninety (90) days after the Termination Date.

 

Notwithstanding
the foregoing, in the case of termination for cause (as determined by the
Company), the ability to exercise this option may be terminated on such earlier
date as the Company may specify, and such date may be set so as to prevent the
Holder from further exercising any portion of the option.

 

5

 

As used herein, “cause” shall mean (w) any material
breach by the Holder of any agreement to which the Holder and the Company (or
any parent or subsidiary) are both parties, (x) any act or omission to act by
the Holder which may have a material and adverse effect on the business of the
Company (or any parent or subsidiary) or on the Holder’s ability to perform
services for the Company (or any parent or subsidiary), including, without
limitation, the commission of any crime (other than ordinary traffic
violations),  (y) any material misconduct
or material neglect of duties by the Holder in connection with the business or
affairs of the Company (or any parent or subsidiary) or any affiliate of the
Company (or any such parent or subsidiary) or (z)  any act or omission
justifying termination of the Holder’s service as a Director for cause, as
determined by the Committee.

 

SEVENTH:  If the Holder shall exercise this option and retain
any of the shares of Common Stock so obtained for a period of at least six (6)
months and one (1) day after such exercise, then, if the Holder shall
thereafter decide to transfer (as hereinafter defined) such shares or any
interest therein, the Holder shall send a written notice of the proposed
transfer to the Company and offering to sell such shares to the Company.   Within thirty  (30) days after actual receipt of such notice,
the Company may elect to repurchase all or any part of such shares by sending
to the Holder a written notice specifying the number of shares the Company
seeks to repurchase and a date for the closing hereunder, which date shall not
be more than thirty (30) days after the date of such notice.  The closing shall take place at the principal
office of the Company or at such other location as the Company and the Holder
shall agree.  At the closing, the Holder
shall transfer to the Company the number of shares specified in the Company’s
notice, free of all liens, encumbrances and rights of others, by delivery of
certificates representing such shares, duly endorsed for transfer or
accompanied by duly executed stock powers. 
Upon completion of such transfer and its receipt of such certificates so
endorsed or with such stock powers, the Company shall make payment therefor at
a price per share equal to the fair market value per share of the Common Stock
on the closing date, determined as set forth above.  If the offer to sell shares to the Company has
not been accepted by the Company as to any or all offered shares within the
time specified in this paragraph, then the Holder shall have thirty (30) days
within which he may transfer the shares as to which the offer shall not have
been accepted, free of the restrictions imposed by this paragraph.   At the end of such  thirty (30) day period, the restrictions
imposed by this paragraph shall resume and be in full force and effect as to
all shares not so transferred within the period.   As used in this paragraph SEVENTH the term “transfer”
shall mean sell, assign, transfer, pledge, hypothecate or otherwise dispose
of.  Certificates for any shares of
Common Stock obtained upon exercise of this option shall bear a legend
concerning the right of first refusal granted in this paragraph SEVENTH, in
form and substance satisfactory to the Company, in addition to any other
legends that may be placed on such certificates.

 

EIGHTH:  Any
notice to be given to the Company hereunder shall be deemed sufficient if
addressed to the Company and delivered by hand or by mail to the Treasurer of
the Company, 22 Cherry Hill Drive, Danvers, Massachusetts 01923 or such other
address as the Company may hereafter designate.

 

6

 

Any notice to be given to the Holder hereunder shall
be deemed sufficient if addressed to and delivered in person to the Holder or
when deposited in the mail, postage prepaid, addressed to the Holder at the
Holder’s address furnished to the Company.

 

NINTH: This option is subject to all laws, regulations
and orders of any governmental authority which may be applicable thereto and,
notwithstanding any of the provisions hereof, the Holder agrees that the Holder
will not exercise the option granted hereby nor will the Company be obligated
to issue or sell any shares of stock hereunder if the exercise thereof or the
issuance or sale of such shares, as the case may be, would constitute a
violation by the Holder or the Company of any such law, regulation or order or
any provision thereof.  The Company shall
not be obligated to take any affirmative action in order to cause the exercise
of this option or the issuance or sale of shares pursuant hereto to comply with
any such law, regulation, order or provision.

 

TENTH:  This
option shall be governed by, and construed and enforced in accordance with, the
substantive laws of The Commonwealth of Massachusetts.

 

IN WITNESS WHEREOF, the Company has caused this
instrument to be executed in its name and on its behalf as of the date first
written above.

 

	
   

  	
  ABIOMED, INC.

  
	
   

  	
   

  
	
   

  	
  By: 

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Its: 

  	
   

  	
   

  
	
   

  	
   

  
	
  ATTEST: (Seal)

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Secretary or Assistant Secretary

  	
   

  
					

 

7

 

SCHEDULE A

ABIOMED, INC.

 

Non-Statutory Stock Option

 

	
  Date of Grant:

  
	
   

  
	
  Name of Holder:

  
	
   

  
	
  Address:

  
	
   

  
	
  City, State, Zip:

  
	
   

  
	
  Social Security Number:

  
	
   

  
	
  Maximum number of shares for
  which this option is exercisable:

  
	
   

  
	
  Exercise (purchase) price per
  share:

  
	
   

  
	
  Expiration date of option:

  
	
   

  
	
  Vesting Rate:

  
	
   

  
	
  Position in, or relationship
  to, the Company:

  
	
   

  
	
  Other terms and conditions:

  

 

1.             The
Holder agrees that upon request of the Company or the underwriters managing any
underwritten offering of the Company’s securities, the Holder shall agree in
writing that for a period of time not to exceed one hundred eighty (180) days
from the effective date of any registration of securities of the Company the
Holder will not sell, make any short sale of, loan, grant any option for the
purchase of, or otherwise dispose of any shares of Common Stock issued pursuant
to the exercise of this option without the prior written consent of the Company
or such underwriters, as the case may be.

 

2.             The
Holder acknowledges receipt of the stock option of which this Schedule A
is a part and agrees to its terms; and further acknowledges receipt of the
Plan, as amended, the prospectus describing the Plan (documents incorporated by
reference in the prospectus are available upon request), and the annual report
of the Company for the most recent fiscal year.

 

*     *    
*

 

	
   

  	
   

  
	
   

  	
  Holder’s Signature

  
	
   

  	
  Print Name:

  

 

8Exhibit 10.17

 

Date:

 

Non-Statutory Stock
Option

 

Granted

 

 

by

 

 

ABIOMED, INC.

 

(hereinafter called the “Company”)

 

 

to

 

 

 

 

 

(hereinafter called the “Holder”)

 

 

under the

 

 

2000 STOCK INCENTIVE PLAN

 

 

WITNESSETH:

 

 

For valuable consideration, the receipt of which is
hereby acknowledged, the Company hereby grants to the Holder the following
option:

 

 FIRST:  Subject to the terms and conditions
hereinafter set forth, the Holder is hereby given the right and option to
purchase from the Company an aggregate of                 
shares of Common Stock of the Company, $.01 par value, at the time and in the
manner hereinafter stated.  Schedule A
attached hereto and incorporated herein sets forth with respect to this option
(i) its expiration date, (ii) its exercise price per share, (iii) its vesting
rate, and (iv) certain other terms and conditions applicable to this option and
incorporated herein.

 

 

This option is and shall be subject in every respect
to the provisions of the Company’s 2000 Stock Incentive Plan, as amended from
time to time (the “Plan”), which is incorporated herein by reference and made a
part hereof.  In the event of any
conflict or inconsistency between the terms hereof and those of the Plan, the
latter shall prevail.  References herein
to the Committee shall mean the Committee as defined in the Plan.

 

This option shall be exercised by the delivery of
written notice of exercise to the Company (the “Notice”) setting forth the
number of shares with respect to which the option is to be exercised and the
address to which the certificates for such shares are to be mailed, together
with (i) cash or certified or bank check payable to the order of the Company
for an amount equal to the option price for the number of shares specified in
the Notice, or (ii) with the consent of the Committee, shares of Common Stock
of the Company which are not then subject to restrictions, have been owned by
the Holder for a period of at least six (6) months on the date of surrender and
have a fair market value on the date of surrender not less than the option
price for the shares as to which such option is being exercised, (iii) irrevocable
instructions to a broker to promptly deliver to the Company cash or a check
payable and acceptable to the Company to pay the purchase price, provided that
in the event the Holder chooses to pay the purchase price as so provided, the
Holder and the broker shall comply with such procedures and enter into such
agreements of indemnity and other agreements as the Committee shall prescribe
as a condition of such payment procedure and provided further that the Company
need not act upon such exercise notice until the Company receives full payment
of the exercise price, or (iv) with the consent of the Committee, such other
consideration (including, without limitation, by delivery of a promissory note
of the Holder payable on such terms as are specified by the Committee) which
the Committee determines are consistent with the purpose of the Plan and with
applicable laws and regulations.   For the purpose of this paragraph FIRST and
paragraph SEVENTH, the fair market value per share of the Common Stock on any
given date means the price per share of the Common Stock on such date as
reported by a nationally recognized stock exchange, or, if the Common Stock is
not listed on such an exchange, as reported by NASDAQ, or, if the Stock is not
quoted on NASDAQ, the fair market value of the Common Stock as determined by
the Committee.

 

The delivery of certificates representing shares of
Common Stock to be purchased pursuant to the exercise of this option will be
contingent upon receipt from the Holder (or a purchaser acting in his stead in
accordance with the provisions of this option) by the Company of the full
purchase price for such shares and the fulfillment of any other requirements
contained in this option or imposed by applicable law.

 

The Holder shall, no later than the date as of which
the value of any Common Stock or other amounts received under this option first
becomes includable in the gross income of the Holder for Federal income tax
purposes, pay to the Company, or make arrangements satisfactory to the
Committee regarding payment of any Federal, state, local and/or payroll taxes
of any kind required by law to be withheld with respect to such income.  The Company and its Subsidiaries shall, to
the extent permitted by law, have the right to deduct any such taxes from any
payment of any kind otherwise due to the Holder.  The Holder may elect, with the consent of the
Committee, to have such tax withholding obligation satisfied, in whole or in
part, by (i) authorizing the Company to withhold from shares of Common
Stock to be issued pursuant to 

 

2

 

this option a number of shares with an aggregate fair market value (as
of the date the withholding is effected) that would satisfy the minimum
withholding amount due with respect to this option, or (ii) transferring to the
Company shares of Common Stock owned by the Holder for a period of at least six
months which are not subject to restrictions on transfer and with an aggregate
fair market value (as of the date the minimum withholding is effected) that
would satisfy the withholding amount due.

 

SECOND:  The
Company, in its discretion, may file a registration statement on Form S-8 under
the Securities Act of 1933 to register shares of Common Stock reserved for
issuance under the Plan.  At any time at
which such a registration statement is not in effect, it shall be an additional
condition precedent to any exercise of this option that the Holder shall
deliver to the Company a customary “investment letter” satisfactory to the
Company and its counsel in which, among other things, the Holder shall state
that the Holder is purchasing the shares for investment and acknowledges that
they are not freely transferable except in compliance with state and federal
securities laws.

 

THIRD:  Within a
reasonable time after receipt by the Company of the Notice and payment for any
shares to be purchased hereunder and, if required as a condition to exercise,
the investment letter described in paragraph SECOND, the Company will deliver
or cause to be delivered to the Holder (or if any other individual or
individuals are exercising this option, to such individual or individuals) at
the address specified in the Notice a certificate or certificates for the
number of shares with respect to which the option is then being exercised,
registered in the name or names of the individual or individuals exercising the
option, either alone or jointly with another person or persons with rights of
survivorship, as the individual or individuals exercising the option shall
prescribe in writing to the Company at or prior to such purchase; provided,
however, that if any law or regulation or order of the Securities and Exchange
Commission or other body having jurisdiction in the premises shall require the
Company or the Holder (or the individual or individuals exercising this option)
to take any action in connection with the shares then being purchased, the date
for the delivery of the certificates for such shares shall be extended for the
period necessary to take and complete such action, it being understood that the
Company shall have no obligation to take and complete any such action.  The Company may imprint upon such certificate
such legends referencing stock transfer restrictions which counsel for the
Company or the Committee considers appropriate. 
Delivery by the Company of the certificates for such shares shall be
deemed effected for all purposes when the Company or a stock transfer agent of
the Company shall have deposited such certificates in the United States mail,
addressed to the Holder, at the address specified in the Notice.

 

FOURTH:  The
existence of this option shall not affect in any way the right or power of the
Company or its stockholders to make or authorize any or all adjustments,
recapitalizations, reorganizations or other changes in the Company’s capital
structure or its business, or any merger or consolidation of the Company, or
any issue of Common Stock, or any issue of bonds, debentures, preferred or
prior preference stock or other capital stock ahead of or affecting the Common
Stock or the rights thereof, or the dissolution or liquidation of the Company,
or any sale or transfer of all or any part of its assets or business, or any
other corporate act or proceeding, whether of a similar character or otherwise.

 

3

 

In the event that the Company effects a stock
dividend, stock split or similar change in capitalization affecting the Common
Stock, the Committee shall make appropriate adjustments in  (i) the number and kind of shares
remaining subject to this option, and (ii) the option price in respect of
such shares.  In the event of any merger,
consolidation, dissolution or liquidation of the Company, the Committee in its
sole discretion may, as to this option, make such substitution or adjustment in
the number and purchase price (if any) of shares subject to this option as it
may determine and as may be permitted by the terms of such transaction, or
accelerate, amend or terminate this option upon such terms and conditions as it
shall provide (which, in the case of the termination of the vested portion of
this option, shall require payment or other consideration which the Committee
deems equitable in the circumstances), subject, however, to the following
provisions of this paragraph Fourth.

 

Upon the occurrence of a Change of Control as defined
in this paragraph Fourth:

 

(i) subject to the provisions of clause (iii) below,
after the effective date of such Change of Control, the Holder of this option
shall be entitled, upon exercise of this option, to receive, in lieu of shares
of Common Stock shares of such stock or other securities, cash or property  as the holders of shares of Common Stock
received in connection with the Change of Control;

 

(ii) the Committee may accelerate the time for
exercise of, and waive all conditions and restrictions on, the unexercised and
unexpired portion of this option, effective upon a date prior or subsequent to
the effective date of such Change of Control, specified by the Committee; or

 

(iii) this option may be cancelled by the Committee as
of the effective date of any such Change of Control provided that
(x) notice of such cancellation shall be given to the Holder and
(y) the Holder shall have the right to exercise this option to the extent
that the same is then exercisable or, in full, if the Committee shall have
accelerated the time for exercise of this option, during the thirty (30) day
period preceding the effective date of such Change of Control.

 

“Change of Control”
shall mean the occurrence of any one of the following events:

 

(i) any “person”
(as such term is used in Sections 13(d) and 14(d)(2) of the Securities Exchange
Act of 1934 (the “Act”)) becomes a “beneficial
owner” (as such term is defined in Rule 13d-3 promulgated under the
Act) (other than the Company, any trustee or other fiduciary holding securities
under an employee benefit plan of the Company, or any corporation owned,
directly or indirectly, by the stockholders of the Company in substantially the
same proportions as their ownership of stock of the Company), directly or
indirectly, of securities of the Company representing fifty percent (50%) or
more of the combined voting power of the Company’s then outstanding securities;
or

 

(ii) the stockholders of the Company approve a merger
or consolidation of the Company with any other corporation or other entity,
other than a merger or consolidation which would result in the voting
securities of the Company outstanding immediately prior thereto continuing to
represent (either by remaining outstanding or by being converted into voting 

 

4

 

securities of the surviving entity) more than sixty-five percent (65%)
of the combined voting power of the voting securities of the Company or such
surviving entity outstanding immediately after such merger or consolidation; or

 

(iii) the stockholders of the Company approve a plan of
complete liquidation of the Company or an agreement for the sale or disposition
by the Company of all or substantially all of the Company’s assets.

 

FIFTH:  No
person shall, by virtue of the granting of this option to the Holder, be deemed
to be a holder of any shares purchasable under this option or to be entitled to
the rights or privileges of a holder of such shares unless and until this
option has been exercised with respect to such shares and they have been issued
pursuant to that exercise of this option.

 

The Company shall, at all times while any portion of
this option is outstanding, reserve and keep available, out of shares of its
authorized and unissued stock or reacquired shares, a sufficient number of
shares of its Common Stock to satisfy the requirements of this option; shall
comply with the terms of this option promptly upon exercise of the option
rights; and shall pay all fees or expenses necessarily incurred by the Company
in connection with the issuance and delivery of shares pursuant to the exercise
of this option.

 

SIXTH:  This
option is not transferable by the Holder otherwise than by will or under the
laws of descent and distribution.  The
granting of this option shall not impose upon the Company any obligation to
employ or to continue to employ the Holder. 
The right of the Company to terminate the employment of the Holder shall
not be diminished or affected by reason of the fact that this option has been
granted to such Holder.

 

This option is exercisable, subject to the vesting
rate and certain other terms and conditions contained in Schedule A  attached hereto and incorporated herein, at
any time prior to the date of expiration of this option and during the Holder’s
lifetime, only by the Holder.  If the
employment of the Holder with the Company or a subsidiary of the Company is
terminated, then after such termination the option may be exercised as to all
shares with respect to which the Holder could exercise the option on the date
of termination (the “Termination Date”), and which shares have not been
previously purchased, within one of the following periods of time as
applicable:

 

(i)                                     in
the case of termination by reason of death, until the earlier of the expiration
of the option or one (1) year after the Termination Date; and

 

(ii)                                  in
all other cases other than termination for cause, until the earlier of the
expiration of  the option or the date
which is ninety (90) days after the Termination Date.

 

Notwithstanding
the foregoing, in the case of termination for cause (as determined by the
Company), the ability to exercise this option may be terminated on such earlier
date as the Company may specify, and such date may be set so as to prevent the
Holder from further exercising any portion of the option.

 

5

 

As used herein, “cause” shall mean (w) any material
breach by the Holder of any agreement to which the Holder and the Company (or
any parent or subsidiary) are both parties, (x) any act or omission to act by
the Holder which may have a material and adverse effect on the business of the
Company (or any parent or subsidiary) or on the Holder’s ability to perform
services for the Company (or any parent or subsidiary), including, without
limitation, the commission of any crime (other than ordinary traffic
violations),  (y) any material misconduct
or material neglect of duties by the Holder in connection with the business or
affairs of the Company (or any parent or subsidiary) or any affiliate of the
Company (or any such parent or subsidiary) or (z)  any act or omission
justifying termination of the Holder’s service as an employee or a consultant
for cause, as determined by the Committee.

 

SEVENTH:  If the Holder shall exercise this option and
retain any of the shares of Common Stock so obtained for a period of at least
six (6) months and one (1) day after such exercise, then, if the Holder shall
thereafter decide to transfer (as hereinafter defined) such shares or any
interest therein, the Holder shall send a written notice of the proposed
transfer to the Company and offering to sell such shares to the Company.   Within thirty  (30) days after actual receipt of such
notice, the Company may elect to repurchase all or any part of such shares by
sending to the Holder a written notice specifying the number of shares the
Company seeks to repurchase and a date for the closing hereunder, which date
shall not be more than thirty (30) days after the date of such notice.  The closing shall take place at the principal
office of the Company or at such other location as the Company and the Holder
shall agree.  At the closing, the Holder
shall transfer to the Company the number of shares specified in the Company’s
notice, free of all liens, encumbrances and rights of others, by delivery of
certificates representing such shares, duly endorsed for transfer or
accompanied by duly executed stock powers. 
Upon completion of such transfer and its receipt of such certificates so
endorsed or with such stock powers, the Company shall make payment therefor at
a price per share equal to the fair market value per share of the Common Stock
on the closing date, determined as set forth above.  If the offer to sell shares to the Company
has not been accepted by the Company as to any or all offered shares within the
time specified in this paragraph, then the Holder shall have thirty (30) days
within which he may transfer the shares as to which the offer shall not have
been accepted, free of the restrictions imposed by this paragraph.   At the end of such  thirty (30) day period, the restrictions
imposed by this paragraph shall resume and be in full force and effect as to
all shares not so transferred within the period.   As used in this paragraph SEVENTH the term “transfer”
shall mean sell, assign, transfer, pledge, hypothecate or otherwise dispose
of.  Certificates for any shares of
Common Stock obtained upon exercise of this option shall bear a legend
concerning the right of first refusal granted in this paragraph SEVENTH, in
form and substance satisfactory to the Company, in addition to any other
legends that may be placed on such certificates.

 

EIGHTH:  Any
notice to be given to the Company hereunder shall be deemed sufficient if
addressed to the Company and delivered by hand or by mail to the Treasurer of
the Company, 22 Cherry Hill Drive, Danvers, Massachusetts 01923 or such other
address as the Company may hereafter designate.

 

6

 

Any notice to be given to the Holder hereunder shall
be deemed sufficient if addressed to and delivered in person to the Holder or
when deposited in the mail, postage prepaid, addressed to the Holder at the
Holder’s address furnished to the Company.

 

NINTH: This option is subject to all laws, regulations
and orders of any governmental authority which may be applicable thereto and,
notwithstanding any of the provisions hereof, the Holder agrees that the Holder
will not exercise the option granted hereby nor will the Company be obligated
to issue or sell any shares of stock hereunder if the exercise thereof or the
issuance or sale of such shares, as the case may be, would constitute a
violation by the Holder or the Company of any such law, regulation or order or
any provision thereof.  The Company shall
not be obligated to take any affirmative action in order to cause the exercise
of this option or the issuance or sale of shares pursuant hereto to comply with
any such law, regulation, order or provision.

 

TENTH:  This
option shall be governed by, and construed and enforced in accordance with, the
substantive laws of The Commonwealth of Massachusetts.

 

IN WITNESS WHEREOF, the Company has caused this
instrument to be executed in its name and on its behalf as of the date first
written above.

 

	
   

  	
  ABIOMED, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Its:

  	
   

  	
   

  
	
   

  	
   

  
	
  ATTEST: (Seal)

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Secretary or Assistant Secretary

  	
   

  
					

 

7

 

SCHEDULE A

ABIOMED, INC.

 

Non-Statutory Stock Option

 

	
  Date of Grant:

  
	
   

  
	
  Name of Holder:

  
	
   

  
	
  Address:

  
	
   

  
	
  City, State, Zip:

  
	
   

  
	
  Social Security Number:

  
	
   

  
	
  Maximum number of shares forwhich
  this option is exercisable:

  
	
   

  
	
  Exercise (purchase) price per
  share:

  
	
   

  
	
  Expiration date of option:

  
	
   

  
	
  Vesting Rate:

  
	
   

  
	
  Position in, or relationship
  to, the Company:

  
	
   

  
	
  Other terms and conditions:

  

 

1.             The
Holder agrees that upon request of the Company or the underwriters managing any
underwritten offering of the Company’s securities, the Holder shall agree in
writing that for a period of time not to exceed one hundred eighty (180) days
from the effective date of any registration of securities of the Company the
Holder will not sell, make any short sale of, loan, grant any option for the
purchase of, or otherwise dispose of any shares of Common Stock issued pursuant
to the exercise of this option without the prior written consent of the Company
or such underwriters, as the case may be.

 

2.             The
Holder acknowledges receipt of the stock option of which this Schedule A
is a part and agrees to its terms; and further acknowledges receipt of the
Plan, as amended, the prospectus describing the Plan (documents incorporated by
reference in the prospectus are available upon request), and the annual report
of the Company for the most recent fiscal year.

 

*     *    
*

 

	
   

  	
   

  
	
   

  	
  Holder’s Signature

  
	
   

  	
  Print Name:

  

 

8

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