Amendment No. 2 to XOMA Ltd. 1998 Employee Share Purchase Plan

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This amendment updates the XOMA Ltd. 1998 Employee Share Purchase Plan, effective January 1, 2005. It changes the definition of "Offering Periods" to consecutive three-month periods starting at the beginning of each calendar quarter. It also sets the purchase price for shares in new offering periods to 95% of the fair market value on the exercise date. The amendment applies to all eligible employees participating in the plan.

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EX-10.5B 9 dex105b.htm AMENDMENT TO 1998 EMPLOYEE SHARE PURCHASE PLAN Amendment to 1998 Employee Share Purchase Plan

Exhibit 10.5B

 

AMENDMENT NO. 2 TO THE XOMA LTD.

1998 EMPLOYEE SHARE PURCHASE PLAN

 

The XOMA Ltd. 1998 Employee Share Purchase Plan, as amended (the “Plan”), is hereby amended, effective as of January 1, 2005, as follows:

 

  1. Section 2(h) of the Plan is amended to read as follows:

 

“(h) “Offering Periods” shall mean consecutive three (3) month periods commencing once every calendar quarter beginning on the first Trading Day on or after January 1, April 1, July 1 and October 1 of each year, and ending on the last Trading Day prior to the end of such three (3) month period.”

 

  2. Section 2(i) of the Plan is amended to read as follows:

 

“(i) “Purchase Price” shall mean with respect to new Offering Periods under the Plan commencing on or after January 1, 2005, the Purchase Price for such Offering periods shall be an amount equal to 95% of the Fair Market Value of a Common Share on the Exercise Date for that Offering Period.”