Extension of Stock Option Expiration for Phillips S. Baker, Jr. under Hecla Mining 1995 Incentive Stock Option Plan
Hecla Mining Company has extended the expiration date for certain non-qualified stock options previously granted to its President and CEO, Phillips S. Baker, Jr., under the company's 1995 Incentive Stock Option Plan. The options, originally set to expire on January 31, 2005, will now expire on January 31, 2006. All other terms of the options remain unchanged. This extension was approved by the independent members of the Board of Directors on November 15, 2004.
Exhibit 10.2
November 15, 2004
Phillips S. Baker, Jr.
President and CEO
Hecla Mining Company
6500 N. Mineral Drive, Suite 200
Coeur dAlene, Idaho ###-###-####
Re: | Hecla Mining Company (the Corporation) 1995 Incentive Stock Option Plan, as amended |
Dear Phil:
On November 15, 2004, the independent members of the Board of Directors, approved the extension of the expiration date for outstanding non-qualified stock options granted to you on January 9, 2003 and August 19, 2003 under the Corporations 1995 Incentive Stock Option Plan. The expiration dates for these non-qualified stock options have been extended from January 31, 2005 to January 31, 2006. All other terms of the stock options remain as originally granted.
Very truly yours,
Michael B. White
Corporate Secretary
MBW:tdh
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