Amendment to Stock Option Agreements of Interland, Inc.
Interland, Inc. amended all unvested stock options held by its current officers, employees, and directors with exercise prices above the May 24, 2005 Nasdaq closing price. The amendment accelerates vesting, making these options fully exercisable as of May 31, 2005. All other terms of the stock options remain unchanged. This affects 286,139 unvested options. The amendment was approved by the company's Board of Directors.
Exhibit 10.125
Amendment of Stock Option Agreements.
On May 24, 2005, the Board of Directors of Interland, Inc. (“Interland”, or the “Company”) approved an amendment to all of the Company’s unvested, outstanding stock options held by current officers, employees or directors for which the exercise price exceeds the closing price on the Nasdaq Stock Market as of that date. The amendment provides that the vesting of such will be accelerated such that the options will become fully exercisable as of May 31, 2005. All of the Company’s 286,139 unvested options have exercise prices which qualify for the amendment. The other terms and conditions of the stock options will remain unchanged.
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