Amendment to Lawson Software, Inc. 2001 Stock Incentive Plan

Contract Categories: Business Finance › Modification Agreements
Summary

This amendment, adopted by the Board of Directors of Lawson Software, Inc., modifies the 2001 Stock Incentive Plan to terminate the plan for future awards if and when the company's 2010 Stock Incentive Plan is approved by stockholders. After this approval, no new equity awards will be granted under the 2001 plan, but existing awards granted before the termination date may still be exercised or vested according to their original terms.

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EX-10.3 4 a10-16921_1ex10d3.htm EX-10.3

Exhibit 10.3

 

AMENDMENT TO

LAWSON SOFTWARE, INC.

2001 STOCK INCENTIVE PLAN

(Adopted by the Board of Directors on June 24, 2010 to take effect if and when (but not before) the 2010 Stock Incentive Plan is approved by the stockholders)

 

Pursuant to Section 13(a) of the Lawson Software, Inc. 2001 Stock Incentive Plan, as amended, the Board of Directors of Lawson Software, Inc. has approved the following amendment to the 2001 Stock Incentive Plan (the “2001 Plan”), effective if and when the 2010 Stock Incentive Plan of the Company is approved by the stockholders of the Company (but not before).  Capitalized terms that are not defined in this Amendment shall have the same respective meanings as described in the 2001 Plan.

 

Section 13 of the 2001 Plan is hereby amended to include the following additional Section 13(d):

 

(d)           Notwithstanding any provision in this Plan to the contrary, on and after the date on which the Lawson Software, Inc. 2010 Stock Incentive Plan is approved by the stockholders of the Company (but not before), the 2001 Stock Incentive Plan is terminated with respect to any future awards under that plan (the “Termination Date”).  Accordingly, no equity awards shall be granted under the 2001 Stock Incentive Plan after the Termination Date.  Notwithstanding the foregoing, the Company may issue and deliver shares of common stock of the Company after the Termination Date pursuant to the exercise of stock options or the vesting of restricted stock or restricted stock unit awards granted before the Termination Date under the 2001 Stock Incentive Plan.