Amendment to New Plan Excel Realty Trust, Inc. Directors' 1994 Stock Option Plan (Effective May 24, 2000)

Contract Categories: Business Finance › Stock Agreements
Summary

This amendment, effective May 24, 2000, modifies the New Plan Excel Realty Trust, Inc. Directors' 1994 Stock Option Plan. The change updates the date in Section 5 for granting options from "May 25th" to "June 1st." All other terms of the plan remain unchanged and in effect. The amendment is made by the company's Board of Directors, as permitted by the plan's terms.

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EX-10.6 5 ex10-6.txt AMENDMENT TO THE STOCK OPTION PLAN 1 EXHIBIT 10.6 AMENDMENT TO THE NEW PLAN EXCEL REALTY TRUST, INC. DIRECTORS' 1994 STOCK OPTION PLAN (AMENDED AND RESTATED MAY 10, 1996) WHEREAS, New Plan Excel Realty Trust, Inc. ("Company") previously adopted the New Plan Excel Realty Trust, Inc. Directors' 1994 Stock Option Plan ("Plan"); and WHEREAS, pursuant to the Plan, the Board of Directors has reserved the right to amend the Plan; and WHEREAS, the Board of Directors of the Company desires to amend the Plan. NOW, THEREFORE, the Plan is hereby amended effective May 24, 2000 as follows: 1. The text "May 25th" in the first paragraph of Section 5 GRANT OF OPTIONS shall be deleted, and the text "June 1st" shall be substituted in lieu thereof. 2. In all other respects the Plan, as amended, shall continue in full force and effect.