SEC Contract Filing

Filing Date: 2019-08-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>3
<FILENAME>atrs-ex104_154.htm
<DESCRIPTION>EX-10.4 FORM OF NON-QUALIFIED STOCK OPTION GRANT AGREEMENT
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">EX 10.4</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">ANTARES PHARMA, INC.</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">EQUITY COMPENSATION PLAN</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">NONQUALIFIED STOCK OPTION GRANT AGREEMENT</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This NONQUALIFIED STOCK OPTION GRANT AGREEMENT (this &#8220;Agreement&#8221;), dated as of _________ __, 20___ (the &#8220;Date of Grant&#8221;), is delivered by Antares Pharma, Inc. (the &#8220;Company&#8221;) to _______________ (the &#8220;Grantee&#8221;).</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">RECITALS</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:normal;font-style:normal;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;"><font style="text-decoration:none;">A.</font><font style="margin-left:36pt;">The Company maintains the Antares Pharma, Inc. Equity Compensation Plan, as amended and restated (the &#8220;Plan&#8221;), which provides for the grant of options to purchase shares of common stock of the Company in accordance with the terms and conditions of the Plan.&nbsp;&nbsp;The Board of Directors of the Company (the &#8220;Board&#8221;) has decided to make a stock option grant as an inducement for the Grantee to promote the best interests of the Company and its stockholders.&nbsp;&nbsp;</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:normal;font-style:normal;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;"><font style="text-decoration:none;">B.</font><font style="margin-left:36pt;">The Board is authorized to appoint a committee to administer the Plan and if a committee is appointed, all references in this Agreement to the &#8220;Board&#8221; shall be deemed to refer to the committee.</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">NOW, THEREFORE, the parties to this Agreement, intending to be legally bound hereby, agree as follows:</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Grant of Option</font>.&nbsp;&nbsp;Subject to the terms and conditions set forth in this Agreement and in the Plan, the Company hereby grants to the Grantee a nonqualified stock option (the &#8220;Option&#8221;) to purchase ___________ shares of common stock of the Company (&#8220;Shares&#8221;) at an exercise price of $_________ per Share.&nbsp;&nbsp;The Option shall become exercisable according to Paragraph 2 below.&nbsp;&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Exercisability of Option</font>.&nbsp;&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(a)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Service-Based Vesting</font>.&nbsp;&nbsp;Except as otherwise provided in subparagraph 2(b) below and provided that the Grantee continues to be Employed by, or provide service to, the Employer (as defined in the Plan) from the Date of Grant through the applicable vesting date, the Option with respect to one-third of the Shares will vest and become exercisable on each of the first, second and third anniversaries of the Date of Grant.&nbsp;&nbsp;The exercisability of the Option is cumulative, but shall not exceed 100% of the Shares subject to the Option.&nbsp;&nbsp;If the foregoing schedule would produce fractional Shares, the number of Shares for which the Option becomes vested and exercisable shall be rounded down to the nearest whole Share and any fractional Shares will be accumulated and will vest and become exercisable on the third anniversary of the Date of Grant, provided that the Grantee is Emplo