First Amendment to Bowater Incorporated 2002 Stock Option Plan
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Summary
Bowater Incorporated has amended its 2002 Stock Option Plan to require that any changes expanding the group eligible for awards or increasing the number of shares available under the plan must be approved by a majority of its stockholders. This amendment, effective July 31, 2002, ensures that significant modifications to the plan cannot be made without shareholder consent. The amendment was executed by the company's Executive Vice President and Chief Financial Officer.
EX-10.1 3 g79227exv10w1.txt 1ST AMEND TO BOWATER 2002 STOCK OPTION PLAN EXHIBIT 10.1 FIRST AMENDMENT TO THE BOWATER INCORPORATED 2002 STOCK OPTION PLAN WHEREAS, Bowater Incorporated, a Delaware corporation (the "Company"), established the Bowater Incorporated 2002 Stock Option Plan (the "Plan"); and WHEREAS, the Company desires to amend the Plan to provide that certain amendments to the Plan may only be made with the approval of a majority in interest of the stockholders; NOW, THEREFORE, the Plan is hereby amended, effective July 31, 2002, as follows: Section 19 of the Plan is amended by adding the following sentence at the end thereof: "No amendment to (i) expand the class of persons to whom Awards may be made, or (ii) increase the number of shares subject to the Plan under Section 5, may be made without the approval of a majority in interest of the Company's stockholders." IN WITNESS WHEREOF, the Company has caused this First Amendment to be executed by its duly authorized officer this 16th day of September, 2002. BOWATER INCORPORATED By: /s/ David G. Maffucci ------------------------------- Name: David G. Maffucci Title: Executive Vice President, Chief Financial Officer and Secretary
