Amendment to the Pro Net Link Corp. 2000 Stock Plan

Contract Categories: Business Finance › Stock Agreements
Summary

This amendment updates the Pro Net Link Corp. 2000 Stock Plan by increasing the number of shares available under the plan from 3,000,000 to 17,500,000, subject to shareholder approval within one year. It also revises provisions regarding the transferability of non-qualified options and grant stock, clarifies exercise periods for options, and allows consultants or advisors to exercise options after their relationship with the company ends, as specified in their agreements. All changes are effective immediately except for the share increase, which requires shareholder approval.

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EX-10.6 7 ex10-6.txt AMENDMENT TO STOCK OPTION PLAN 1 EXHIBIT 10.6 AMENDMENT TO THE PRO NET LINK CORP. 2000 STOCK PLAN WHEREAS, Pro Net Link Corp. (the "Company") adopted the 2000 Stock Plan (the "Plan"); WHEREAS, the Board of Directors of the Company may at any time, and from time to time, modify or amend the Plan, subject to shareholder approval in certain instances; and WHEREAS, the Company desires to amend the Plan. NOW THEREFORE, the Plan is amended as follows: 1. In Section 4 of the Plan, the number "17,500,000" shall be substituted for the number "3,000,000". 2. The following sentence shall be substituted for the last sentence of Section 9: Notwithstanding the foregoing, non-qualified Options and shares of Grant Stock may be transferred if the applicable Option Agreement or Grant Stock Agreement so provides. 3. The following parenthetical shall be substituted for the parenthetical text at the end of Sections 10.1, 10.2 and 10.3: (or within such other period as may be specified in the applicable Option Agreement) 4. The following sentence shall be added to the end of Section 10: A non-qualified Option granted to a consultant or advisor of the Company may be exercised after the termination of such relationship in accordance with the terms of the Option Agreement. 5. The amendments made by Paragraphs 1 through 4 hereof shall be effective immediately; provided, however, that the amendment made by Paragraph 1 is subject to shareholder approval within one year of the adoption of this amendment.