Alkermes, Inc. Incentive Stock Option Award Certificate for Employee
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Summary
Alkermes, Inc. grants an employee the right to purchase company stock at a set price under its 2008 Stock Option and Incentive Plan. The option vests over time and must be exercised within 10 years or within three months of leaving the company, unless extended for retirement, death, or disability. Special rules apply for accelerated vesting and extended exercise periods in those cases. The agreement outlines the number of shares, vesting schedule, and key conditions for exercising the option.
EX-10.27.A 2 b81004exv10w27wa.htm EX-10.27(A) exv10w27wa
Exhibit 10.27(a)
Stock Option Award Certificate (INCENTIVE STOCK OPTION) |  ID: XXXXXXXX 852 Winter Street Waltham, MA 02451 |
«FIRST_NAME» «MIDDLE_NAME» «LAST_NAME» «ADDRESS_LINE1» «ADDRESS_LINE2» «ADDRESS_LINE3» «CITY», «STATE» «ZIP_CODE» | Option Number: Plan: ID: | «NUM» «PLAN_NAME» «ID» |
Effective «GRANT_DATE», you have been granted an Incentive Stock Option to buy «SHARES_GRANTED» shares of Alkermes, Inc. (the “Company”) common stock at «OPTION_PRICE» per share.
The total option price of the shares granted is «TOTAL_OPTION_PRICE».
The right to acquire the shares subject to the Incentive Stock Option will become fully vested on the dates shown below. The Incentive Stock Option shall expire on the earlier to occur of: the 10th anniversary of the date of grant or three months after termination of your service relationship with the Company (unless otherwise provided below).
| Shares | Vesting Date | |
«SHARES_PERIOD1» | ||
«SHARES_PERIOD2» | ||
«SHARES_PERIOD3» | ||
«SHARES_PERIOD4» |
In the event of the termination of your employment with the Company by reason of retirement, the vesting and exercisability of the Incentive Stock Option shall be accelerated, and the period during which the Incentive Stock Option (to the extent it is exercisable on the date of retirement) may be exercised shall be extended, as follows:
| Exercise period following date of | ||||
| Age at retirement and full years of cumulative service as an | termination of employment by reason of | |||
| employee of the Company at retirement (but not including any | retirement (but not beyond the original term | |||
| service in a non-employment relationship with the Company) | Acceleration of vesting date | of the Incentive Stock Option) | ||
60 or over and at least 6 years | 1 year | 1 year | ||
62.5 or over and at least 8 years | 2 years | 2 years | ||
65 or over and at least 10 years | 4 years | 3 years |
In the event of the termination of your employment with the Company (but not the termination of a non-employment relationship with the Company) by reason of death or permanent disability, the Incentive Stock Option shall vest and be exercisable in full on such termination of employment and the period during which the Incentive Stock Option (to the extent that it is exercisable on the date of termination of employment) may be exercised shall be three (3) years following the date of termination of employment by reason of death or permanent disability, but not beyond the original term of the Incentive Stock Option.
The foregoing Incentive Stock Option has been granted under and is governed by the terms and conditions of this Certificate and the Alkermes 2008 Stock Option and Incentive Plan.
Alkermes, Inc. | Date |
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