Amendment to Stock Award Plan Increasing Share Limit to 45,000,000 Shares

Contract Categories: Business Finance › Stock Agreements
Summary

This amendment modifies the Stock Award Plan by increasing the maximum number of shares of common stock that can be issued or subject to options under the plan to 45,000,000 shares. It also allows for new options to be granted if previous options expire, are cancelled, or terminate, as long as all terms comply with the plan. The amendment ensures the plan remains flexible while setting a clear cap on the total shares available for awards.

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EX-10.1 2 be8332303-ex10_1.txt AMENDMENT TO THE STOCK AWARD PLAN Exhibit 10.1 Amendment to the Stock Award Plan --------------------------------- The text of Section 3.1 of the Stock Award Plan shall be amended to read as follows: "3.1 Number of Shares. Subject to the provisions of Paragraph 17 (relating to adjustments upon changes in capitalization), the number of shares of Common Stock subject at any one time to options granted under the Plan, plus the number of shares of Common Stock theretofore issued or delivered pursuant to the exercise of options granted under the Plan, shall not exceed 45,000,000 shares. If and to the extent that options granted under the Plan terminate, expire or are cancelled without having been exercised, new options may be granted under the Plan with respect to the shares of Common Stock covered by such terminated, expired or cancelled options; provided, that the granting and terms of such new options shall in all respects comply with the provisions of the Plan."