First Amendment to GTECH Holdings Corporation 1996 Non-Employee Directors' Stock Option Plan

Summary

This amendment updates the GTECH Holdings Corporation 1996 Non-Employee Directors' Stock Option Plan. It extends the term of stock options granted to non-employee directors to ten years from the date of grant, unless terminated earlier under certain conditions. All other terms of the original plan remain unchanged. The amendment is authorized by the company's Board of Directors and is effective as of the date signed in 2001.

EX-10.27 9 y48042ex10-27.txt FIRST AMENDMENT TO 1996 SOTCK OPTION PLAN 1 FIRST AMENDMENT TO THE GTECH HOLDINGS CORPORATION 1996 NON-EMPLOYEE DIRECTORS' STOCK OPTION PLAN WHEREAS, GTECH Holdings Corporation (the "Corporation") adopted the GTECH Holdings Corporation 1996 Non-Employee Directors' Stock Option Plan (the "Plan") as a means whereby the Corporation may, through the grant of non-qualified stock options to purchase common stock of the Corporation to Non-Employee Directors, attract and retain capable outside directors; WHEREAS, the Plan may be amended by resolution of the Board of Directors of the Corporation (the "Board") in accordance with Section 9 of the Plan; WHEREAS, the Board has by resolution authorized the amendment of the Plan to extend the term of the options granted under the Plan. NOW, THEREFORE, the Plan is hereby amended as follows: 1. Section 6 (c) is amended in its entirety to read as follows: (c) Term. Subject to earlier termination as provided in Sections 6(e), (f) and (g) and in Section 8 hereof, the term of each option shall be ten (10) years from the date of grant. 2. Except as amended above, the Plan remains in full force and effect and is in all other respects ratified and confirmed. IN WITNESS WHEREOF, the Corporation has executed this First Amendment as of the ____ day of __________, 2001. GTECH HOLDINGS CORPORATION By:_______________________________ Title:______________________________