Amendment No. 2 to Union Acceptance Corporation 1999 Incentive Stock Plan

Summary

Union Acceptance Corporation, through its Board of Directors, has amended its 1999 Incentive Stock Plan as of February 23, 2001. The amendment increases the total number of shares of common stock reserved for issuance under the plan to 900,000. It also specifies that no individual may be granted more than 400,000 shares under the plan. Shares that are not issued due to expired, terminated, or forfeited awards may be reallocated for future awards, provided the plan remains active.

EX-10.2 3 uac_ex102.txt AMENDMENT NO. 2 Exhibit 10.2 ------------ AMENDMENT TO THE UNION ACCEPTANCE CORPORATION 1999 INCENTIVE STOCK PLAN The undersigned, Secretary of Union Acceptance Corporation, hereby certifies that, by action of the Board of Directors, effective February 23, 2001, Article IV of the Union Acceptance Corporation 1999 Incentive Stock Plan was amended to read as follows: "4. Stock Subject to the Plan. A total of 900,000 shares of Common Stock of the Company shall be reserved for issuance pursuant to Awards granted under the Plan. Such reserved shares may be authorized but unissued shares or treasury shares of the Company. Subject to Section 8 hereof, the shares for which options may be granted under the Plan shall not exceed that number. If any option shall expire or terminate or be surrendered for any reason without having been exercised in full, or if an award of restricted shares shall be forfeited, the unpurchased shares subject thereto shall (unless the Plan shall have terminated) become available for other options under the Plan. Notwithstanding the forgoing, no Awardee shall be granted more than 400,000 shares of Common Stock under the Plan." EXECUTED, this 9th day of March, 2001. /s/ Leeanne W. Graziani ------------------------------ Leeanne W. Graziani, Secretary