ALBANY MOLECULAR RESEARCH, INC. 1998 STOCK OPTION AND INCENTIVE PLAN Amendment

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.”