Amendment to Sonic Innovations, Inc. 2000 Employee Stock Purchase Plan – Offering Periods

Summary

This amendment updates the Sonic Innovations, Inc. 2000 Employee Stock Purchase Plan by changing the timing and duration of the periods during which employees can purchase company stock. The new rules specify when these offering periods start and end, and allow the company's Board to adjust these periods in the future without needing shareholder approval, as long as advance notice is given. The amendment primarily affects when employees can participate in the stock purchase plan and how often new offering periods begin.

EX-10.1 3 dex101.htm AMENDMENT TO 2000 EMPLOYEE STOCK PURCHASE PLAN Amendment to 2000 Employee Stock Purchase Plan

EXHIBIT 10.1
SONIC INNOVATIONS, INC.
AMENDMENT TO 2000 EMPLOYEE STOCK PURCHASE PLAN

Amendment to Offering Period for ESPP

2(k) “Offering Periods” shall mean the periods of approximately twenty-four (24) months during which an option granted pursuant to the Plan may be exercised, commenting on the first Trading Day on or after May 1st and November 1^st of each year and terminating on the last Trading Day in the periods ending twenty-four months later; provided, however, that on the first Offering Period commencing after May 1, 2003 shall commence on the first Trading Day on or after December 1, 2003 and end on the last Trading Day on or before November 30, 2005; and provided, further, that each Offering Period thereafter shall commence on the first Trading Day on or after June 1^st and December 1^st each year, or on such other date as the Board shall determine. The duration and timing of Offering Periods may be changed pursuant to Section 4 of this Plan.

4. Offering Period. The Plan shall be implemented by consecutive, overlapping Offering Periods with a new Offering Period commencing on the first Trading Day on or after May 1^st and November 1^st each year; provided, however, that the first Offering Period commencing after May 1, 2003 shall commence on the first Trading Day on or after December 1, 2003 and end on the last Trading Day on or before November 30, 2005; and provided further, that each Offering Period thereafter shall commence on the first Trading Day on or after June 1^st and December 1^st each year, or on such other date as the Board shall determine. The Board shall have the power to change the duration of Offering Periods (including the commencement dates thereof) with respect to future offerings without shareholder approval if such change is announced at least five (5) days prior to the scheduled beginning of the first Offering Period to be affected thereafter.