Exhibit 10.4
AUTOIMMUNE INC.
STOCK OPTION
For good and valuable consideration,
receipt of which is hereby acknowledged, AutoImmune Inc., a
Delaware corporation (the “Company”), does hereby grant
to
(the “Grantee”) an option to purchase
(
) shares of Common Stock of the Company (the “Option”),
pursuant to the terms of the Company’s 2008 Stock Option Plan
(the “Plan”). A copy of the Plan, marked Exhibit A, is
annexed hereto and is incorporated herein in its entirety by
reference.
The Grantee hereby accepts the
Option subject to all of the provisions of the Plan, and upon the
following additional terms and conditions:
1. The price at which the shares of
Common Stock may be purchased pursuant to the Option is
($
) per share, subject to adjustment as provided in the
Plan.
2. (a) The Option shall expire at
the close of business on the tenth anniversary of the date hereof.
Subject to the provisions of the Plan, the Option shall be
exercisable before said date as follows: (i) if the Grantee is
employed by the Company on the first anniversary of the date
hereof, to the extent of 25% of the number of shares covered
hereby; (ii) if the Grantee is employed by the Company on the
second anniversary of the date hereof, to the extent of 50% of the
number of shares covered hereby, less the number of shares as to
which the Option has been exercised previously; (iii) if the
Grantee is employed by the Company on the third anniversary of the
date hereof, to the
