Exhibit 10.2
MOMENTA
PHARMACEUTICALS, INC.
Restricted Stock
Agreement
Granted Under 2004 Stock Incentive Plan
AGREEMENT made on
between Momenta Pharmaceuticals, Inc., a Delaware corporation
(the “ Company ”), and
(the “ Participant ”).
For valuable
consideration, receipt of which is acknowledged, the parties hereto
agree as follows:
1.
Issuance of
Shares .
The Company hereby
issues to the Participant, subject to the terms and conditions set
forth in this Agreement and in the Company’s 2004 Stock
Incentive Plan, as amended (the “ Plan ”),
shares (the “ Shares ”) of common stock, $0.0001
par value per share, of the Company (“ Common Stock
”). The Shares will be held in book entry by the
Company’s transfer agent in the name of the Participant for
that number of Shares issued to the Participant. The
Participant agrees that the Shares shall be subject to the
forfeiture provisions set forth in Section 2 of this Agreement
and the restrictions on transfer set forth in Section 3 of
this Agreement.
2.
Vesting
.
(a)
Unless otherwise provided in this Agreement or the Plan, in the
event that Participant ceases to be employed by the Company on or
before [four years from grant date] , for any reason or no
reason, with or without cause, all of the Unvested Shares (as
defined below) will be immediately and automatically forfeited and
returned to the Company for no consideration effective as of the
date of termination of employment. The Participant will have
no further rights with respect to any Shares that are so
forfeited. “Unvested Shares” means the total
number of Shares multiplied by the Applicable Percentage.
“Applicable Percentage” shall be (i) 100% during
the 12-month period ending on [one year from grant date] ;
(ii) 75% less 6.25% for each three-month period from and after
[one year from grant date] , and (iii) zero on or after
[four years from grant date] .
(b)
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.
Restrictions on
Transfer .
(a)
The Participant shall not sell, assign, transfer, pledge,
hypothecate or otherwise dispose of, by operation of law or
otherwise (collectively “ transfer ”) any
Shares, or any interest therein, until such Shares have vested,
except that the Participant may transfer such Shares (i) to or
for the benefit of any spouse, children, parents, uncles, aunts,
siblings, grandchildren and any other relatives approved by the
Board of Directors (collectively, “ Approved Relatives
”) or to a trust established solely for the benefit of the
Participant and/or Approved Relatives, provided that such
Shares shall remain subject to this Agreement (including without
limitation the restrictions on transfer set forth in this
Section 3 and the forfeiture provisions contained in
Section 2) and such permitted transferee shall, as a condition
to such transfer, deliver to the Company a written instrument
confirming that such transferee shall be bound by all of the terms
and conditions of this Agreement or (ii) as part of the sale
of all or substantially all of the shares of capital stock of the
Company (including pursuant to a merger or consolidation),
provided that, in accordance with the Plan and except as
otherwise provided herein, the securities or other property
received by the Participant in connection with such transaction
shall remain subject to this Agreement.
(b)
The Company shall not be required (i) to transfer on its books
any of the Shares which have been transferred in violation of any
of the provisions set forth in this Agreement or (ii) to treat
as owner of such Shares or to pay dividends to any transferee to
whom such Shares have been transferred in violation of any of the
provisions of this Agreement.
4.
Restrictive
Legends .
All Shares subject
to this Agreement subject to the following restriction, in addition
to any other legends that may be required under federal or state
securities laws:
“The shares of
stock represented by this certificate are subject to forfeiture
provisions and restrictions on transfer set forth in a certain
Restricted Stock Agreement between the corporation and the
registered owner of these shares (or his or her predecessor in
interest), and such Agreement is available for inspection without
charge at the office of the Secretary of the
corporation.”
5.
Provisio
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