Amendment No. 1 to Mitek Systems, Inc. 2006 Stock Option Plan
This amendment updates the Mitek Systems, Inc. 2006 Stock Option Plan by increasing the maximum number of stock options that can be granted to any individual in a one-year period from 500,000 to 3,500,000. It also raises the total number of shares that may be subject to outstanding options under the plan from 1,000,000 to 23,000,000. These changes allow the company to grant more stock options to employees or other eligible participants.
Exhibit 10.2
AMENDMENT NO. 1 TO
MITEK SYSTEMS, INC.
2006 STOCK OPTION PLAN
The Mitek Systems, Inc. 2006 Stock Option Plan (the “Plan”) be and hereby is amended as follows:
Section 3.1 is hereby amended such that the sentence which reads “No person shall be granted more than 500,000 options in any one-year period.” is deleted and replaced with a new sentence which reads “No person shall be granted more than 3,500,000 options in any one-year period.”
Section 4 is hereby amended such that the sentence which reads “The aggregate number of shares subject to outstanding options shall not exceed 1,000,000 shares of Stock (subject to adjustment as provided in Section 6).” is deleted and replaced with a new sentence which reads “The aggregate number of shares subject to outstanding options shall not exceed 23,000,000 shares of Stock (subject to adjustment as provided in Section 6).”
