Amendment to 2006 Stock Compensation Plan by Board of Directors
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Summary
This amendment, approved by the Board of Directors on September 21, 2010, changes Article 8 of the 2006 Stock Compensation Plan. The new provision states that the Committee is not allowed to modify, extend, or renew outstanding options and stock appreciation rights, nor can it accept the surrender of these awards to grant new ones in their place. This change limits the Committee's ability to alter or replace existing equity awards under the plan.
EX-10.15 3 ex10_15.htm EXHIBIT 10.15 ex10_15.htm
Exhibit 10.15 - Amendment to 2006 Stock Compensation Plan
AMENDMENT TO 2006 STOCK
COMPENSATION PLAN
On September 21, 2010, the Board of Directors of the Corporation approved deleting the text in Article 8 of the 2006 Stock Compensation Plan and replacing it with the following:
8.1 The Committee may not modify, extend, or renew outstanding Options and Stock Appreciation Rights granted under the Plan or accept the surrender of outstanding Options and Stock Appreciation Rights (to the extent not theretofore exercised) and authorize the granting of new Options and Stock Appreciation Rights in substitution therefor.
