First Amendment to 2004 Stock Option Plan of the Corporation
This amendment updates the Corporation’s 2004 Stock Option Plan by setting a new limit of 85,306 shares that can be granted as stock options to eligible employees. It also clarifies that shares from expired, terminated, or canceled options (except those canceled for cash) can be reissued under the plan. The amendment ensures the plan remains compliant with any changes in the company’s capitalization.
Exhibit 10.1
FORM OF
FIRST AMENDMENT TO THE CORPORATION’S
2004 STOCK OPTION PLAN
Section 4.1 of the Plan shall be deleted and replaced in its entirety with the following:
4.1 Reserved Shares. Subject to Section 11 (relating to adjustments upon changes in capitalization), the aggregate number of shares of Stock (as defined in Section 6) that may be acquired under the Plan by any one Eligible Employee and by all Eligible Employees pursuant to options granted hereunder shall not exceed 85,306 shares. Shares of Stock covered by options granted under the Plan, which options expire, terminate or are canceled for any reason (other than an option, or part thereof, that is canceled by the Committee and for which cash is paid in respect thereof) shall again become available for award under the Plan.
