Amendment to 2007 Equity Incentive Plan and 2007 Stock and Award Plan
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Summary
This amendment outlines the rules for transferring stock options under the company's 2007 Equity Incentive Plan and 2007 Stock and Award Plan. It states that Incentive Stock Options (ISOs) cannot be transferred except by will or inheritance, and can only be exercised by the grantee or their legal representative during their lifetime. Other options may be transferred if they comply with securities laws, but if the company's stock is registered under the Exchange Act, options cannot be transferred for at least six months after they are granted.
EX-4.4 2 v148660_ex4-4.htm Unassociated Document
Exhibit 4.4
Amendment to 2007 Equity Incentive Plan and 2007 Stock and Award Plan
(e) transfer of Options.
(i) No Incentive Option granted under this Plan shall be assignable or transferable by the grantee except by will or by the laws of descent and distribution, and during the lifetime of the grantee, each ISO shall be exercisable only by him, his guardian or legal representative.
(ii) Except for Incentive Options, all Options are transferable subject to compliance with applicable securities laws. Provided, however, if the Company’s Stock is registered under Section 12 of the Exchange Act, the Stock shall not be sold, assigned or transferred by the grantee until at least six months elapse from the date of the grant thereof
