Amendment to Section 5(c) of Competitive Technologies, Inc. 2000 Directors Stock Option Plan

Contract Categories: Business Finance › Stock Agreements
Summary

This document amends Section 5(c) of the Competitive Technologies, Inc. 2000 Directors Stock Option Plan, effective December 10, 2001. It specifies that the exercise price for stock options granted to directors must be at least 100% of the fair market value of the shares on the grant date. The Board retains the authority to set the exact exercise price, provided it meets this minimum requirement.

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EX-10.1 4 ex10-1.txt Exhibit 10.1 Effective December 10, 2001, Section 5(c) of the Competitive Technologies, Inc. 2000 Directors Stock Option Plan was revised and amended to read as follows: (c) Option Price. Each Option Agreement shall state the price at which the Option shares therein may be exercised, which shall not be less than 100% of the Fair Market Value on the date of grant. Subject to the foregoing, the exercise price under any Option shall be determined by the Board in its sole discretion.