FORM OF NONQUALIFIED STOCK OPTION AWARD AGREEMENT
UNDER THE EQUITY COMPENSATION PLAN FOR DIRECTORS
THIS AWARD AGREEMENT is made and entered into this day of , (the “Effective Date”), by and
between Pharmaceutical Product Development, Inc. (the “Company”), and (the “Eligible Participant”).
WHEREAS, the Eligible Participant is a non-employee director of the Company; and
WHEREAS, the Eligible Participant is entitled to a nonqualified stock option to purchase shares of the common stock of
the Company (the “Common Stock”), in accordance with the Equity Compensation Plan adopted by the Shareholders of the
Company effective as of October 30, 1995 as amended and restated effective May 14, 2003, (the “Plan”) (capitalized terms used
herein which are not otherwise defined herein shall have the meanings ascribed to them under the Plan).
NOW, THEREFORE, in consideration of the premises, it is agreed by and between the parties as follows:
1. Grant of Nonqualified Stock Option . The Company hereby grants to the Eligible Participant a nonqualified stock option
(the “Nonqualified Stock Option”) to purchase shares of Common Stock (the “Shares” ) at the purchase price of $
per share in the manner and subject to the terms and conditions contained herein and in the Plan.
2. Time of Exercise of Nonqualified Stock Option . The Nonqualified Stock Option is fully vested on the Effective Date and,
subject to the termination provisions set forth in Section 5 below and the limitations on exercise set forth in Section 7 below may
be exercised, in whole or in part, at any time and from time to time but not later than , (the “Exercise Period”).
3. Method of Exercise . The Nonqualified Stock Option shall be exercised by written notice directed to the Committee, a
form of which is attached hereto as Exhibit A and incorporated herein by reference. As soon as practicable following receipt of