Notice of Option Repricing under ICP Solar Technologies Inc. 2006 Stock Incentive Plan
ICP Solar Technologies Inc. has announced that, effective February 14, 2008, the exercise price for all stock options granted under its 2006 Stock Incentive Plan between May 15, 2007 and February 13, 2008 will be reduced to $0.50 per share. This decision was authorized by the company's board of directors and communicated to all affected option holders. The notice is signed by the company's President and CEO, Sass Peress.
Exhibit 4.1
ICP SOLAR TECHNOLOGIES INC.
7075 Place Robert-Joncas
Montreal, Quebec
H4M 2Z2, Canada
(514 ###-###-####
NOTICE REPRICING OPTIONS ISSUED
PURSUANT TO THE COMPANY’S 2006 STOCK INCENTIVE PLAN
To the holders of options to purchase common stocks:
On February 14, 2008, the board of directors of ICP Solar Technologies Inc., authorized the repricing of the exercise price of the options issued pursuant to the Company’s 2006 Stock Incentive Plan ("Plan") below to $0.50. This repricing of the options to purchase common stock of the Company will apply to all of the options issued between May 15, 2007 and February 13, 2008.
February 20, 2008
By ORDER OF THE BOARD OF DIRECTORS,
ICP SOLAR TECHNOLOGIES INC.
By: /s/ Sass Peress
Sass Peress
President and Chief Executive Officer
