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Exhibit
10.4
CURAGEN
CORPORATION
Restricted Stock
Agreement
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Name of Recipient:
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Number of shares of restricted common stock awarded:
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Grant Date:
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CuraGen Corporation (the
“Company”) has selected you to receive the restricted
stock award described above, which is subject to the provisions of
the Company’s 2007 Stock Incentive Plan (the
“Plan”) and the terms and conditions contained in this
Restricted Stock Agreement. Please confirm your acceptance of this
restricted stock award and of the terms and conditions of this
Agreement by signing a copy of this Agreement where indicated
below.
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| CURAGEN CORPORATION |
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| By: |
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[insert
name and title] |
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| Accepted and
Agreed: |
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[insert
name of recipient ]
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| Date: |
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CURAGEN
CORPORATION
Restricted Stock
Agreement
The terms and conditions of
the award of shares of restricted common stock of the Company (the
“Restricted Shares”) made to the Recipient, as set
forth on the cover page of this Agreement, are as
follows:
1. Issuance of Restricted
Shares .
(a) The Restricted Shares are
issued to the Recipient, effective as of the Grant Date (as set
forth on the cover page of this Agreement), in consideration of
employment services rendered and to be rendered by the Recipient to
the Company.
(b) The Restricted Shares
will initially be issued by the Company in book entry form only, in
the name of the Recipient. Following the vesting of any Restricted
Shares pursuant to Section 2 below, the Company shall, if
requested by the Recipient, issue and deliver to the Recipient a
certificate representing the vested Restricted Shares. The
Recipient agrees that the Restricted Shares shall be subject to the
forfeiture provisions set forth in Section 3 of this Agreement
and the restrictions on transfer set forth in Section 4 of
this Agreement.
2. Vesting . Unless
otherwise provided in this Agreement or the Plan, the Restricted
Shares shall vest in accordance with the following vesting
schedule: X % of the total number of Restricted Shares shall
vest on the first anniversary of the Grant Date and X % of
the total number of Restricted Shares shall vest at the end of each
successive one year period following the first anniversary of the
Grant Date, through and including the fifth anniversary of the
Grant Date. Any fractional number of Restricted Shares resulting
from the application of the foregoing percentages shall be rounded
down to the nearest whole number of Restricted Shares.
3. Forfeiture of Unvested
Restricted Shares Upon Employment Termination .
In the event that the
Recipient ceases to be employed by the Company for any reason or no
reason, with or without cause, all of the Restricted Shares that
are unvested as of the time of such employment termination shall be
forfeited immediately and automatically to the Company, without the
payment of any consideration to the Recipient, effective as of such
termination of employment. The Recipient shall have no further
rights with respect to any Restricted Shares that are so forfeited.
If the Recipient is employed by a subsidiary of the Company, any
references in this Agreement to employment with the Company shall
instead be deemed to refer to employment with such
subsidiary.
4. Restrictions on
Transfer .
The Recipient shall not sell,
assign, transfer, pledge, hypothecate or otherwise dispose of, by
operation of law or otherwise (collectively “transfer”)
any Restricted Shares, or any interest therein, until such
Restricted Shares have vested, except that the Recipient may
transfer such Restricted Shares: (a) to or for the benefit of
any spouse, children, parents, uncles, aunts, siblings,
grandchildren and any other relatives approved by the Compensation
Committee
(collectively, “Approved
Relatives”) or to a trust established solely for the benefit
of the Recipient and/or Approved Relatives, provided that
such Restricted Shares shall remain subject to this Agreement
(including without limitation the forfeiture provisions set forth
in Section 3 and the restrictions on transfer set forth in
this Section 4) and such permitted transferee shall,
as
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