Amendment to Dime Bancorp, Inc. Stock Incentive Plan for Outside Directors (Effective December 20, 2001)
This amendment updates the Dime Bancorp, Inc. Stock Incentive Plan for Outside Directors to allow non-qualified stock options to be transferred to certain family members or related entities, such as family partnerships or trusts, unless the Board prohibits it. The amendment defines eligible family members broadly, including immediate and extended family and step-relations. The change is effective as of December 20, 2001.
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Exhibit 10.51.1
Amendment to the
Dime Bancorp, Inc.
Stock Incentive Plan for Outside Directors
Effective December 20, 2001
The Dime Bancorp, Inc. Stock Incentive Plan for Outside Directors (the "Plan") is hereby amended in the following particulars.
- 1.
- Section 6 of the Plan is amended to add the following at the end thereof:
"Notwithstanding the foregoing, and unless otherwise prohibited by the Board, a Non-Qualified Option shall be transferable to Immediate Family Members (as defined below), partnerships in which the only partners are Immediate Family Members, or trusts established solely for the benefit of Immediate Family Members. "Immediate Family Members" shall mean the grandparents, parents, aunts, uncles, spouse, brothers, sisters, cousins, children, nieces, nephews, grandchildren and great-grandchildren, and corresponding step relations, of the optionee who holds the Non-Qualified Option."
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