Exhibit 10.35
 |
||
Stock Option Award Certificate
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ID: 23-2472830 | |
| 88 Sidney Street | ||
| Cambridge, MA 02139 |
Option Number:
Plan:
Plan:
ID:
Effective
,
you have been granted a(n)
to buy shares of Alkermes, Inc. (the Company)
stock at
per share.
The total
option price of the shares granted is .
Shares in each period will become fully vested on the date shown.
| Shares | Vest Type | Full Vest | Expiration | |||
To the extent that such option is an incentive stock option, such incentive stock option shall
not be transferable or assignable except by will or by the laws of decent and distribution and only
the grantee can exercise such incentive stock options during the grantee’s lifetime.
In the event of your Termination of Employment (as defined in the 1999 Plan) by reason of
retirement, the vesting and exercisability of the option shall be accelerated, and the period
during which the option (to the extent it is exercisable on the date of Termination of Employment)
may be exercised shall be extended, as follows:
| Age at Retirement and Full Years of | Exercise Period following date of | |||
| Service as an employee of the | Termination of Employment (not | |||
| Company or any of its subsidiaries at | beyond the original term of the | |||
| Retirement | Acceleration of Vesting Date | 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 |
Notwithstanding the above, in the event of the grantee’s Termination of Employment (as defined
in the 1999 Plan) by reason of retirement, if the grantee’s age plus cumulative years of service
with the Company (or its affiliates) is greater than or equal to 55 at retirement and grantee has
at least twelve (12) years of service with the Company (or its affiliates), then the option shall
vest and be exercisable in full on retirement and the period during which the option (to the extent
that it is exercisable on the date of Termination of Employment) may be exercised shall be five (5)
years following the Termination of Employment, but not beyond the original term of the option.
In the event of your Termination of Employment by reason of death or permanent disability, the
vesting and exercisability of the option shall be fully accelerated and the period during which the
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, but not beyond
the original term of the option.
The foregoing option has been granted under and is governed by the terms and conditions of this
Certificate and Alkermes’ 1999 Stock Option Plan, as amended.