Amendment No. 3 to Daw Technologies, Inc. 1993 Stock Option Plan

Summary

This amendment updates the Daw Technologies, Inc. 1993 Stock Option Plan. It clarifies that the committee may accelerate or extend the exercisability or term of outstanding stock options, but not beyond a maximum of ten years from the grant date. It also states that no new options can be granted more than ten years after the plan's effective date, though existing options and related committee authority may continue beyond that period. The amendment ensures compliance with the plan's original time limits and clarifies the committee's powers.

EX-10.8 3 a2077547zex-10_8.txt EXHIBIT 10.8 EXHIBIT 10.8 AMENDMENT NO. 3 DAW TECHNOLOGIES, INC. 1993 STOCK OPTION PLAN THE DAW TECHNOLOGIES, INC. 1993 STOCK OPTION PLAN (THE "PLAN") IS HEREBY AMENDED AS FOLLOWS: SECTION 1.2 (b)(vi) OF THE PLAN IS AMENDED AND RESTATED TO READ IN ITS ENTIRETY AS FOLLOWS: (vi) to accelerate or extend the exercisability or extend the term of any or all such outstanding Options within the maximum ten-year term of Options under Section 1.6; and SECTION 1.6 OF THE PLAN IS AMENDED AND RESTATED TO READ IN ITS ENTIRETY AS FOLLOWS: 1.6 Term of Options Each Option and all executory rights or obligations under the related Option Agreement shall expire on such date as shall be determined by the Committee, but not later than ten (10) years after the Grant Date. SECTION 3.9 OF THE PLAN IS AMENDED AND RESTATED TO READ IN ITS ENTIRETY AS FOLLOWS: 3.9 Term of the Plan No Option shall be granted more than ten (10) years after the effective date of this Plan (the termination date"). Unless otherwise expressly provided in this Plan or in an applicable Option Agreement, any Option theretofore granted may extend beyond such date, and all authority of the Committee with respect to Options hereunder shall continue during any suspension of this Plan and in respect of outstanding Options on such termination date. S-2