SEC Contract Filing

Filing Date: 2018-05-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ovas-20180331xex101.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="s7E59357286291CC288A220D4710D49E3"></a></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><img src="ovas20180331ex101image1.gif" alt="ovas20180331ex101image1.gif" style="height:109px;width:312px;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.1</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:24px;padding-top:8px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">OVASCIENCE, INC.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Nonstatutory Stock Option Agreement</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:0px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:0px;">1.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Grant of Option</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This agreement evidences the grant by OvaScience, Inc., a Delaware corporation (the &#8220;Company&#8221;), on March 6, 2018 (the &#8220;Grant Date&#8221;) to James W. Lillie, Ph.D., an employee, consultant and/or director of the Company (the &#8220;Participant&#8221;), of an option to purchase, in whole or in part, on the terms provided herein, a total of 357,057 shares (the &#8220;Shares&#8221;) of common stock, $0.001</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;">par value per share, of the Company (&#8220;Common Stock&#8221;) at $1.02 per Share as an inducement material to the Participant&#8217;s entering into employment as Chief Scientific Officer of the Company (pursuant to Rule 5635(c)(4) of the Nasdaq Listed Company Manual), on January 16, 2018, in accordance with the terms of a letter agreement with the Company dated December 21, 2017 (the &#8220;Employment Agreement&#8221;). Unless earlier terminated, this option shall expire at 5:00 p.m., Eastern time, on March 5, 2028 (the &#8220;Final Exercise Date&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">It is intended that the option evidenced by this agreement shall not 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 &#8220;Code&#8221;). Except as otherwise indicated by the context, the term &#8220;Participant&#8221;, as used in this option, shall be deemed to include any person who acquires the right to exercise this option validly under its terms.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:0px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:0px;">2.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Vesting Schedule</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This option will become exercisable (&#8220;vest&#8221;) as to 25% of the original number of Shares on the first anniversary of the Vesting Commencement Date and as to an additional 6.25% of the original number of Shares at the end of each successive three-month period following the first anniversary of the Vesting Commencement Date until the fourth anniversary of the Vesting Commencement Date. For purposes of this Agreement, &#8220;Vesting Commencement Date&#8221; shall mean January 16, 2018. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">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.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Notwithstanding the foregoing, if within one (1) year of the date of a Change in Control Event (as defined in the Employment Agreement) the Participant&#8217;s employment is terminated by the Company (or any successor) without Cause (as defined in the Employment Agreement) or by the Participant for Good Reason (as defined in the Employment Agreement), then 100% of the unvested portion of this option shall vest as of the date of such termination.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:0px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:0px;">3.</font><font sty