Certificate of Amendment to Insignia Systems, Inc. Employee Stock Purchase Plan

Contract Categories: Business Formation › Articles of Amendment
Summary

This document is an amendment to the Insignia Systems, Inc. Employee Stock Purchase Plan, adopted by the Board of Directors on February 24, 2003. The amendment changes the plan's duration, stating that it will continue until terminated by the Board, but any phase started before termination will be allowed to finish. The amendment ensures clarity on how the plan operates if the Board decides to end it.

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EX-10.10 4 insignia041533_ex10-10.htm Exhibit 10.10 to Insignia Systems, Inc. Form 10-K dated 12-31-2003

EXHIBIT 10.10

CERTIFICATE OF AMENDMENT TO
INSIGNIA SYSTEMS, INC.
EMPLOYEE STOCK PURCHASE PLAN

        Pursuant to an Amendment to the Employee Stock Purchase Plan, adopted by the Board of Directors on February 24, 2003, the first sentence of Section 4(a) of the Employee Stock Purchase Plan is hereby amended as follows:

  “The Plan will commence on January 1, 1993, and will continue until terminated by the Board pursuant to Section 15, except that any phase commenced prior to such termination shall, if necessary, be allowed to continue beyond such termination until completion.”  


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