Celcuity Inc. Amendment to 2017 Stock Incentive Plan Stock Option Agreement
This amendment updates Section 7 of the Celcuity Inc. Stock Option Agreement under the 2017 Stock Incentive Plan. It clarifies that stock options cannot be transferred except by will or inheritance, and can only be exercised by the original holder during their lifetime, unless otherwise approved for non-statutory options. The amendment ensures these terms apply to the option holder’s legal representatives and heirs.
Exhibit 10.1
Amended Agreement
Celcuity Inc.
Amended and Restated 2017 Stock Incentive Plan
Amendment to Stock Option Agreement
Section 7 of the Celcuity Inc. Form of Stock Option Agreement is hereby amended and restated as follows:
7. Non-Transferability of Option. This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of the Optionee only by the Optionee, unless this Option is a non-statutory stock option and such transfer is otherwise approved by the Committee in its sole discretion. The terms of the Plan and this Option Agreement will be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.
