Amendment to Non-Employee Director Stock Plan (Section 4.2)
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Summary
This amendment updates Section 4.2 of the Non-Employee Directors Stock Plan, effective January 1, 2008. It requires that each award under the plan be documented by an Award Agreement. If there is any conflict between the plan and an Award Agreement, the plan's terms will take precedence. The amendment clarifies the relationship between the plan and individual award agreements for non-employee directors.
EX-10.7 8 ex10-7.htm AMENDMENT TO NONEMPL DIR STOCK PLAN ex10-7.htm
Exhibit 10.7
Amendment to Non-Employee Director Stock Plan
Section 4.2 of the Non-Employee Directors Stock Plan was amended effective January 1, 2008 by replacing Section 4.2 of such Plan in its entirety with the following new Section 4.2:
"4.2 Award Agreement. Each Award granted under the Plan shall be evidenced by an Award Agreement; provided, however, that in the event of any conflict between a provision of the Plan and any provision of an Award Agreement, the provision of the Plan shall prevail."
