Second Amendment to BioMimetic Therapeutics, Inc. 2001 Long-Term Stock Incentive Plan

Summary

This amendment updates the BioMimetic Therapeutics, Inc. 2001 Long-Term Stock Incentive Plan, effective March 31, 2006. It changes the maximum number of shares available under the plan, setting an initial limit of 1,500,000 shares and establishing an annual increase to 17% of the company's outstanding stock. After ten years, further increases require shareholder approval every ten years. All other terms of the original plan remain unchanged.

EX-10.31 13 file005.htm SECOND AMENDMENT TO 2001 LONG TERM STOCK PLAN

  Exhibit 10.31 BIOMIMETIC THERAPEUTICS, INC. SECOND AMENDMENT TO 2001 LONG-TERM STOCK INCENTIVE PLAN This second amendment (the "Amendment") to the BioMimetic Therapeutics, Inc. 2001 Long-Term Stock Incentive Plan (the "Stock Incentive Plan") is effective as of March 31, 2006. Terms not otherwise defined in this Amendment shall have the meanings ascribed to them in the Stock Incentive Plan. Section 5.2(b) of the Stock Incentive Plan is hereby amended and restated as follows: "(b) Subject to the following provisions of this subsection 5.2, the maximum number of shares of Stock that may be delivered to Participants and their beneficiaries under the Plan shall be equal to the sum of 1,500,000 shares of stock; provided, however, that the aggregate pool of shares of Stock available for grant under the Plan shall increase automatically on January 1 of each year to equal 17% of the Company's then outstanding Stock (the "Evergreen Pool"). Beginning on the tenth anniversary of the effective date of this Amendment, the Evergreen Pool shall not increase automatically as set forth in this Section 5.2(b) unless the Stock Incentive Plan is approved by the Company's shareholders no later than each 10 year anniversary of the effective date of this Amendment." As amended hereby, all of the terms and conditions of the Stock Incentive Plan remain in full force and effect.