Amendment to 2004 Performance Incentive Plan Agreements for Stock Option Vesting Acceleration

Contract Categories: Business Finance › Modification Agreements
Summary

This amendment, effective May 19, 2005 for officers and May 10, 2005 for non-officers, modifies all 2004 non-qualified stock option grants under the Registrant's 2004 Performance Incentive Plan. It accelerates the vesting date for options that would not otherwise vest by January 1, 2006, so that they will now vest on December 31, 2005, unless canceled under the original agreement terms. The amendment applies to both officers and non-officer participants in the plan.

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EX-10.(E)(7) 3 dex10e7.htm FORM OF AMENDMENT TO AGREEMENTS UNDER REGISTRANT'S 2004 PERFORMANCE INCENTIVE Form of Amendment to Agreements under Registrant's 2004 Performance Incentive

Exhibit 10(e)(7)

 

Amendment to Agreements under Registrant’s 2004 Performance Incentive Plan, effective May 19, 2005 with respect to officers of the Company, and effective May 10, 2005 with respect to non-officer participants:

 

All 2004 grants of non-qualified stock options that would not otherwise vest on or prior to January 1, 2006, shall vest (unless otherwise canceled pursuant to the terms of the Agreements) on December 31, 2005.