Back to top

2003 Long-Term Incentive Plan

Executive Compensation Plan Agreement

2003 Long-Term Incentive Plan | Document Parties: Boston Scientific Corporation You are currently viewing:
This Executive Compensation Plan Agreement involves

Boston Scientific Corporation

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.
Title: 2003 Long-Term Incentive Plan
Governing Law: Massachusetts     Date: 2/27/2009
Industry: Medical Equipment and Supplies     Sector: Healthcare

2003 Long-Term Incentive Plan, Parties: boston scientific corporation
50 of the Top 250 law firms use our Products every day

EXHIBIT 10.66


 

 

 

 

 

Boston Scientific Corporation

 

2003 Long-Term Incentive Plan

 

Non-Qualified Stock Option Agreement

 

February 24, 2009

 

 

 

 

 

James R. Tobin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BOSTON SCIENTIFIC COPY

PLEASE RETURN IN THE ENVELOPE PROVIDED

 


This Agreement is entered into by and between Boston Scientific Corporation (the "Corporation") and the "Optionee" effective as of the 24th day of February, 2009.  This Agreement is made pursuant to the Boston Scientific Corporation 2003 Long-Term Incentive Plan (the "Plan"), which is administered by the Committee.

 

Capitalized terms not defined in this Agreement have the same meanings specified in the Plan.


 

I.

Grant of Option

 

The Corporation hereby grants to the Optionee a Non-Qualified Stock Option (the "Option") to purchase that number of shares of common stock of the Corporation set forth on the signature page hereof (the "Option Shares") at the price set forth on the signature page hereof (the "Exercise Price").

 

 

II.

Term and Vesting of Option

 

Except as otherwise provided in Section IV, the Option shall have a term of ten (10) years from February 24, 2009 until February 24, 2019 and shall vest in accordance with the vesting schedule set forth on the signature page hereof.

 

 

III.

Exercise of Option

 

While this Option remains exercisable, the Optionee may exercise a vested portion of the Option by delivering to the Corporation or its designee in the form and at the location specified by the Corporation, notice stating the Optionee's intent to exercise a specified number of shares subject to the Option and payment of the full Exercise Price for the specified number of shares.  The payment for the full Exercise Price for the shares exercised must be made in (i) cash, (ii) by certified check or bank draft payable in U.S. dollars ($US) to the order of the Corporation, (iii) in whole or in part in Common Stock of the Corporation owned by the Optionee, valued at Fair Market Value, or (iv) if available to the Optionee, by "cashless exercise", by the Optionee delivering to his/her securities broker instructions to sell a sufficient number of shares of Common Stock to cover the Exercise Price, applicable tax obligations and the brokerage fees and expenses associated therewith.

 

Shares of Common Stock of the Corporation used for payment, in whole or part, of the Exercise Price must have been owned by the Optionee, free and clear of all liens or encumbrances for a period of at least six (6) months prior to the exercise date.  In addition, the Committee may impose such other or different requirements as it may deem necessary to avoid charges to earnings of the Corporation.

 

The exercise date for the Optionee's exercise of all or a specified portion of the Option pursuant to this Section III will be deemed to be the date on which the Corporation receives the irrevocable commitment from the Optionee to exercise the Option Shares in the form of notice of exercise

 


specified by the Corporation, subject to Optionee's payment in full of the Option Shares to be exercised.  Notice of exercise of all portions of the Option being exercised along with payment in full of the Exercise Price for such portion must be received by the Corporation or its designee on or prior to the last day of the Option term, as set forth in Section II above, except as provided in Section IV below.

 

Upon the Corporation's determination that there has been a valid exercise of the Option, the Corporation shall issue certificates in accordance with the terms of this Agreement, or cause the Corporation’s transfer agent to make the necessary book entries, for the shares subject to the exercised portion of the Option.  However, the Corporation shall not be liable to the Optionee, the Optionee's personal representative, or the Optionee's successor(s)-in-interest for damages relating to any delays in issuing the certificates or in making book entries, any loss of the certificates, or any mistakes or errors in the issuance of the certificates or in making book entries, or in the certificates themselves.

 

 

IV.

Termination of Employment

 

Upon the Optionee's termination of employment for reasons of death or Disability, and upon the Optionee’s termination of employment due to Retirement provided that such Retirement shall occur after December 31, 2010, all remaining unexercised portion(s) of the Option shall immediately vest and become exercisable by the Optionee or the Optionee's appointed representative, as the case may be, until the expiration of term of the Option, or such other term as the Committee may determine at or after grant, provided that such exercise period does not extend beyond the original term of the Option and no portion of th


 
SITE SEARCH

AGREEMENTS / CONTRACTS

Document Title:

Entire Document: (optional)

Governing Law:(optional)


Try our advanced search >>
 

CLAUSES

Search Contract Clauses >>

Browse Contract Clause Library>>

Get Email Updates
Email:
This is only a partial view of this document. We have millions of legal documents and clauses drafted by top law firms. learn more search for free browse for free learn more