First Amendment to Factory Card & Party Outlet Corp. 2002 Stock Incentive Plan

Summary

This amendment updates the Factory Card & Party Outlet Corp. 2002 Stock Incentive Plan by changing its name to the 2002 Stock Option Plan and clarifying that if no Compensation Committee is appointed, the Board will act as the Committee. All other terms of the original plan remain unchanged. The amendment was adopted by the Board of Directors and certified by the company's President and COO, Gary W. Rada, effective April 23, 2002.

EX-10.10 4 dex1010.txt FIRST AMENDMENT TO THE 2002 STOCK INCENTIVE PLAN Exhibit 10.10 FIRST AMENDMENT TO THE FACTORY CARD & PARTY OUTLET CORP. 2002 STOCK INCENTIVE PLAN The Factory Card & Party Outlet Corp. 2002 Stock Incentive Plan (the "Plan"), is hereby amended, effective April 23, 2002, as follows: I. The name of the Plan is hereby amended to be the "Factory Card & Party Outlet Corp. 2002 Stock Option Plan" (the "Plan"). II. Section 2(d) is amended by adding "or, if no Compensation Committee of the Board has been appointed, the Board." at the end of the definition of "Committee". III. In all other respects the Plan shall remain in full force and effect. The undersigned certifies that he is the duly elected and acting Secretary of Factory Card & Party Outlet Corp. and that the foregoing First Amendment to the Factory Card & Party Outlet Corp. 2002 Stock Incentive Plan was duly adopted by the Board of Directors of Factory Card & Party Outlet Corp. as of April 23, 2002. Dated: April 23, 2002 /s/ Gary W. Rada ---------------- Gary W. Rada President and Chief Operating Officer