Amendment No. 1 to the 2005 Stock Option Plan
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EX-10.57 16 c22948a5exv10w57.htm AMENDMENT NO. 1 TO THE 2005 STOCK OPTION PLAN exv10w57
Exhibit 10.57
AMENDMENT NO. 1
TO THE
PATRIOT RISK MANAGEMENT, INC. 2005 STOCK OPTION PLAN
TO THE
PATRIOT RISK MANAGEMENT, INC. 2005 STOCK OPTION PLAN
RESOLVED, that Section 4.01 [1] of the 2005 Stock Option Plan is hereby amended to read as follows:
“4.01 Number of Shares.
[1] Subject to Section 4.03, the number of shares of stock subject to awards under the Plan is 62,500.”; and further
RESOLVED, that Section 9.08 of the 2005 Stock Option Plan is hereby amended by adding the following sentence to the end thereof:
“Upon approval by the Company’s stockholders of the Company’s 2008 Stock Incentive Plan, no further awards shall be made under this Plan.”
