Board Resolution Setting Fair Market Value for Stock Option Grants under 1997 and 2004 Equity Plans
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Summary
The Board of Directors resolved that, starting January 1, 2007, the fair market value of the company's common stock for stock option grants under the 1997 Stock Option and Purchase Plan and the 2004 Equity Incentive Plan will be determined by the closing price on the NASDAQ Stock Market on the grant date. This policy ensures a consistent and transparent method for valuing stock options awarded to employees or other eligible participants.
EX-10.10.1 2 exhibit_10101.htm EXHIBIT 10.10.1_BOD RESOLUTION REGARDING FMV FOR STOCK OPTION GRANTS Exhibit 10.10.1_BOD Resolution regarding FMV for stock option grants
EXHIBIT 10.10.1
As of January 1, 2007, the Board of Directors adopted the policy that the fair market value of the Company’s common stock for the purposes of granting stock options under the Company’s 1997 Stock Option and Purchase Plan and the 2004 Equity Incentive Plan shall be the closing price of the Company’s common stock as quoted on the NASDAQ Stock Market on the day of such grant.
