SECOND AMENDMENT OF AVIDXCHANGE, INC.
2010 STOCK OPTION PLAN
WHEREAS, the Board of Directors of AvidXchange, Inc. (the Company) has previously adopted, and the stockholders of the Company have previously approved, the AvidXchange, Inc. 2010 Stock Option Plan, dated March 23, 2010, as previously amended by First Amendment dated as of April 26, 2012 (collectively, the Plan); and
WHEREAS, the Board of Directors deems it to be advisable to increase the number of shares of Common Stock authorized for grant and issuance as options thereunder from 1,047,404 shares to 1,547,404, and the stockholders of the Company have approved such increase.
NOW, THEREFORE, the Plan shall be amended as follows:
1. The first sentence of Section 4 of the Plan shall be deleted in its entirety and the following substituted in lieu thereof:
Subject to adjustment as provided in Paragraph 9 below, the maximum number of shares of Stock which may be issued pursuant to Options granted under the Plan shall be One Million Five Hundred Forty-Seven Thousand Four Hundred Four (1,547,404) shares.
2. Except as herein amended, the terms and provisions of the Plan shall remain in full force and effect as originally adopted and approved.
IN WITNESS WHEREOF, the undersigned hereby certifies that this Second Amendment was duly adopted by the Board of Directors of the Company and approved by the stockholders of the Company effective as September 4, 2014.
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|By: || || |
/s/ Michael Praeger
| || ||Michael Praeger, Chief Executive Officer|