Amendment to Albany Molecular Research, Inc. 1998 Stock Option and Incentive Plan
This amendment updates Section 19 of the Albany Molecular Research, Inc. 1998 Stock Option and Incentive Plan. It clarifies that stock options and other awards can be granted after the plan's adoption by the Board, but no grants may be made after August 7, 2008. The amendment also requires stockholder approval before any stock is issued under the plan. The Board of Directors approved this amendment on February 5, 2004.
Exhibit 10.7
ALBANY MOLECULAR RESEARCH, INC.
1998 STOCK OPTION AND INCENTIVE PLAN
Amendment
Section 19 of the Albany Molecular Research, Inc. 1998 Stock Option and Incentive Plan, as amended, is hereby amended by deleting the last sentence of said section in its entirety and substituting the following in lieu thereof:
“Subject to such approval by the stockholders and to the requirement that no Stock may be issued hereunder prior to such approval, Stock Options and other Awards may be granted hereunder on and after the adoption of this Plan by the Board, provided that no grants of Stock Options and other Awards may be made hereunder after August 7, 2008.”
| DATE APPROVED BY BOARD OF DIRECTORS: | February 5, 2004 |
