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Exhibit
10.5
CURAGEN
CORPORATION
Restricted Stock
Agreement
Name of Recipient:
Number of shares of
restricted common stock awarded:
Grant Date:
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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Name: |
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Title:
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| Accepted and Agreed: |
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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 . 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. The Restricted
Shares will be held in book entry by the Company’s transfer
agent in the name of the Recipient. The Recipient agrees that the
Restricted Shares shall be subject to the forfeiture provisions set
forth in Section 2(b) of this Agreement and the restrictions
on transfer set forth in Section 4 of this
Agreement.
2. Vesting
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(a) The Restricted Shares
shall vest and become free from the forfeiture provisions in
Section 2(b) hereof and become free from the transfer
restrictions in Section 4 hereof as follows, provided in each
case that the Recipient is employed with the Company as of the
applicable vesting date:
(i) XXXX
(b) In the event that
(i) the Recipient ceases to be employed by the Company prior
to the date that the Restricted Shares vest under
Section 2(a)(i) or Section 2(a)(ii) hereof, for any
reason or no reason, with or without cause, or (ii) the
Restricted Shares otherwise do not vest in accordance with the
conditions set forth in Section 2(a)(i) or
Section 2(a)(ii) hereof on or before XXX, then all of the
Restricted Shares shall be forfeited immediately and automatically
to the Company for no consideration effective as of either the date
of termination of employment or XXX, whichever is earlier, and the
Recipient shall have no further rights with respect to such
Restricted Shares. The Recipient hereby authorizes the Company to
take any actions necessary or appropriate to cancel any stock
certificate(s) representing forfeited Restricted Shares and
transfer ownership of such forfeited Restricted Shares to the
Company; and if the Company or its transfer agent requires an
executed stock power or similar confirmatory instrument in
connection with such cancellation and transfer, the Recipient shall
promptly execute and deliver the same to the Company. For purposes
of this Agreement, employment with the Company shall include
employment with a parent or subsidiary of the Company, or any
successor to the Company.
3. Acknowledgment
regarding Employment Agreement . The Recipient and the Company
hereby acknowledge and agree that the Restricted Shares will vest
in accordance with the conditions set forth in
Section 2(a)(ii) above only upon a Qualifying Change in
Control, notwithstanding anything to the contrary in that certain
Amended and Restated Employment Agreement dated September 1,
2006 between the Recipient and the Company, as amended.
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 of the Company’s Board of Directors
(collectively, “ Approved Relatives ”) or
to a trust established solely for the benefit of the Recipient
and/or Approved Relatives, provided that such
Restr
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