First Amendment to Amended and Restated Non-Employee Director Stock Option Plan of Landair Corporation
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Summary
Landair Corporation is amending its Non-Employee Director Stock Option Plan to increase the number of shares available for option grants to 250,000. This change will only take effect if approved by the company's shareholders. The amendment specifically updates the relevant section of the plan to reflect the new share limit.
EX-10.1 2 ex10-1.txt 1ST AMENDMENT TO NON EMPLOYEE STOCK OPTION PLAN 1 EXHIBIT 10.1 FIRST AMENDMENT TO THE AMENDED AND RESTATED NON-EMPLOYEE DIRECTOR STOCK OPTION PLAN OF LANDAIR CORPORATION Landair Corporation, a Tennessee corporation (the "Company"), hereby amends its Amended and Restated Non-Employee Director Stock Option Plan (the "Plan"), subject to shareholder approval as provided below: 1. The first sentence of Section 5(a) of the Plan is hereby amended to read as follows in its entirety: "Options to purchase up to Two Hundred Fifty Thousand (250,000) shares of Common Stock may be granted hereunder." 2. This Amendment shall be effective upon its approval by the Company's shareholders.
