Amendment to Automatic Stock Option Grants for Non-Employee Directors under 1996 Stock Option and Award Plan
This document records a decision by the Board of Directors on January 25, 2005, to increase the annual automatic stock option grant to non-employee directors from 3,750 shares to 7,500 shares under the company's 1996 Stock Option and Award Plan. The change applies to all non-employee directors and is made pursuant to the authority granted in the plan. The main obligation is the company's commitment to grant the increased number of options each year to eligible directors.
Exhibit 10.61
Automatic Grants of Stock Options to Non-Employee Directors
On January 25, 2005, the Board of Directors, pursuant to the authority set forth in Section 9.1.3 of the Company’s 1996 Stock Option and Award Plan changed the annual automatic stock option grant made to Non-employee Directors pursuant to Section 9.1.2 from an option to purchase 3,750 shares to an option to purchase 7,500 shares.
