Amendment to Zoo Entertainment, Inc. 2007 Employee, Director and Consultant Stock Plan

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Summary

This amendment, effective January 14, 2009, modifies the Zoo Entertainment, Inc. 2007 Employee, Director and Consultant Stock Plan. The changes increase the total number of shares available under the plan from 1,000,000 to 4,000,000 and raise the maximum number of shares that can be granted to any participant in a fiscal year from 250,000 to 750,000. All other terms of the original plan remain unchanged.

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EX-10.2 3 v137274_ex10-2.htm

ZOO ENTERTAINMENT, INC.
AMENDMENT TO 2007 EMPLOYEE, DIRECTOR AND CONSULTANT STOCK PLAN

This Amendment (the “Amendment”) to the Zoo Entertainment, Inc. (the “Company”) 2007 Employee, Director and Consultant Stock Plan (the “Plan”), is hereby effective as of January 14, 2009.  Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings ascribed to them in the Plan.

WHEREAS, the Company enacted the Plan in accordance with the purposes set forth therein; and

WHEREAS, Section 31 of the Plan reserves to the Company’s board of directors (the “Board”) the power in its discretion to amend the Plan at any time and from time to time subject to applicable law and the rights of the Participants on the date of such action; and

WHEREAS, the Board deems it appropriate to amend the Plan to increase the aggregate number of Shares which may be issued from time to time pursuant to the Plan from one million (1,000,000) shares to four million (4,000,000) shares; and

WHEREAS, the Board deems it appropriate to amend the Plan to increase the maximum number of Shares with respect to which Stock Rights may be granted to any Participant in any fiscal year from two hundred fifty thousand (250,000) to seven hundred fifty thousand (750,000).

NOW, THEREFORE, the Plan is hereby amended as set forth below:

1.           Section 3(a) of the Plan is hereby amended by deleting “one million (1,000,000)” from the second line thereof and inserting “four million (4,000,000)” in its place.

2.           Section 4(c) of the Plan is hereby amended by deleting “250,000” from the third line thereof and inserting “750,000” in its place.

3.           The Plan shall remain in full force and effect except as specifically amended herein.