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.
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").
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Term and
Vesting of Option
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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.
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.
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Termination
of Employment
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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