Document:

Exhibit
10.1

 

ACORDA
THERAPEUTICS, INC.

 

1999
EMPLOYEE STOCK OPTION PLAN

 

SECTION 1.                            PURPOSE

 

The purpose of the Acorda Therapeutics, Inc. 1999
Employee Stock Option Plan (the “Plan”) is to provide an additional incentive
to directors, key employees, independent contractors, agents and consultants of
Acorda Therapeutics, Inc. (the “Company”) and its subsidiaries, to aid in
attracting and retaining directors, employees, independent contractors, agents
and consultants of outstanding ability, and to align their interests with those
of shareholders.

 

SECTION 2.                            DEFINITIONS

 

Unless the context clearly indicates otherwise, the
following terms, when used in this Plan, shall have the meanings set forth in
this Section 2.

 

(a)                                  
“Board” shall mean the Board of Directors
of the Company.

 

(b)                                 “Change in Control”. 
A change in control of the Company shall be deemed to have occurred if,
over the initial opposition of the then-incumbent Board (whether or not such
Board ultimately acquiesces therein), (i) any person or group of persons shall
acquire, directly or indirectly, stock of the Company having at least 25% of
the combined voting power of the Company’s then-outstanding securities, or (ii)
any shareholder or group of shareholders shall elect a majority of the members of
the Board in each case after the closing of the initial public offering of the
Stock.

 

(c)                                  “Code” shall mean the Internal Revenue Code of 1986 and the
rules and regulations thereunder, as it or they may be amended from time to
time.

 

(d)                                 “Committee” shall mean the full Board, Compensation
Committee of the Board or such other committee as may be designated by the
Board.  If less than the full Board, the
Committee shall consist of two or more members of the Board who are not
eligible to participate in the Plan, and who otherwise are “non-employee
directors” under Rule 16b-3.

 

(e)                                  “Date of Exercise” shall mean the earlier of the date on
which written notice of exercise, together with payment in full, is received at
the office of the Secretary of the Company or the date on which such notice and
payment are mailed to the Secretary of the Company at its principal office by
certified or registered mail.

 

(f)                                    “Director” shall mean a member of the Board of Directors.

 

(g)                                 “Employee” shall mean any employee or any officer of the
Company or any of its Subsidiaries, or any other person, who is an independent
contractor, agent or consultant of the Company or any of its Subsidiaries, and
excluding any director of the Company who is not

 

 

otherwise an employee of the Company. 
For the purposes of any provision of this Plan relating to Incentive
Stock Options, the term “Employee” shall be limited to mean any employee (as
that term is defined under Code Section 3401(c)) or officer of the Company or
any of its Subsidiaries, but not any person who is merely an independent
contractor, agent or consultant of the Company or any of its subsidiaries.

 

(h)                                 “Fair Market Value” of the Stock means, for all purposes of
the Plan unless otherwise provided (i) the mean between the high and low sales
prices of the Stock as reported on the National Market System or Small Cap
Market of the National Association of Securities Dealers, Inc., Automated
Quotation System, or any similar system of automated dissemination of
quotations of securities prices then in common use, if so quoted, or (ii) if
not quoted as described in clause (i), the mean between the high bid and low
asked quotations for the Stock as reported by a the National Quotation Bureau
Incorporated or such other source as the Committee shall determine, or (iii) if
the Stock is listed or admitted for trading on any national securities
exchange, the mean between the high and low sales price, or the closing bid
price if no sale occurred, of the Stock on the principal securities exchange on
which the Stock is listed.  In the event
that the method for determining the Fair Market Value of the Stock provided for
above shall either be not applicable or not be practical, in the opinion of the
Committee, then the Fair Market Value shall be determined by such other
reasonable method as the Committee, in its discretion, shall select and apply.

 

(i)                                     “Grantee” shall mean an Employee granted a Stock Option.

 

(j)                                     “Granting Date” shall mean the date on which the Committee
authorizes the issuance of a Stock Option for a specified number of shares of
Stock to a specified Employee.

 

(k)                                  “Incentive Stock Option” shall mean a Stock Option granted
under the Plan which is properly qualified under the provisions of Section 422
of the Code.

 

(l)                                     “Nonstatutory Stock Option” shall mean a Stock Option
granted within the Plan which is not an Incentive Stock Option or otherwise
qualified under similar tax provisions.

 

(m)                               “Progressive Stock Options” shall mean either Incentive
Stock Options or Nonstatutory Stock Options granted pursuant to Section 5(j) of
this Plan.

 

(n)                                 “Rule 16b-3” shall mean Rule 16b-3 promulgated by the
Securities and Exchange Commission pursuant to the Securities Exchange Act of
1934, as amended, or any rule in replacement thereof.

 

(o)                                 “Stock” shall mean the Common Stock, par value $0.001 per
share, of the Company.

 

(p)                                 “Stock Appreciation Right” shall mean a right granted
pursuant to the Plan to receive Stock, cash, or a combination thereof, upon the
surrender of the right to purchase all or part of the shares of Stock covered
by a Stock Option.

 

(q)                                 “Stock Option” shall mean an Incentive Stock Option or
Nonstatutory Stock Option granted pursuant to the Plan to purchase shares of
Stock.

 

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(r)                                    “Subsidiary” shall mean any subsidiary corporation as
defined in Section 424(f) of the Code.

 

SECTION 3.                            SHARES OF STOCK SUBJECT TO
THE PLAN

 

Subject to adjustment pursuant to Section 9,
17,558,163 shares of Stock shall be reserved for issuance upon the exercise of
Stock Options granted pursuant to this Plan. 
Shares delivered under the Plan may be authorized and unissued shares or
issued shares held by the Company in its treasury.  If any Stock Options expire or terminate
without having been exercised, the shares of Stock covered by such Stock Option
shall become available again for the grant of Stock Options hereunder.  Similarly, if any Stock Options are
surrendered for cash pursuant to the provisions of Section 7, the shares of
Stock covered by such Stock Options shall also become available again for the
grant of Stock Options hereunder.  Shares
of Stock covered by Stock Options surrendered for Stock pursuant to Section 7,
however, shall not become available again for the grant of Stock Options
hereunder.

 

SECTION 4.                            ADMINISTRATION OF THE PLAN

 

(a)                                  The
Plan shall be administered by the Committee. 
Subject to the express provisions of the Plan, the Committee shall have
authority to interpret the Plan, to prescribe, amend and rescind rules and
regulations relating to it, to determine the terms and provisions of Stock
Option grants, and to make all other determinations necessary or advisable for
the administration of the Plan.

 

(b)                                 It
is intended that the Plan and any transaction hereunder meet all of the
requirements of Rule 16b-3 promulgated by the Securities and Exchange
Commission, as such rule is currently in effect or as hereafter modified or
amended, and all other applicable laws. 
If any provision of the Plan or any transaction would disqualify the
Plan or such transaction under, or would not comply with, Rule 16b-3 or other
applicable laws, such provision or transaction shall be construed or deemed
amended to conform to Rule 16b-3 or such other applicable laws or otherwise
shall be deemed to be null and void, in each case to the extent permitted by
law and deemed advisable by the Committee.

 

(c)                                  Any
controversy or claim arising out of or related to this Plan shall be determined
unilaterally by and at the sole discretion of the Committee.

 

SECTION 5.                            GRANTING OF STOCK OPTIONS

 

(a)                                  Directors,
key Employees, independent contractors, agents and consultants to the Company
shall be eligible to receive Stock Options under the Plan.  Only Employees shall be eligible to receive
Incentive Stock Options under the Plan.

 

(b)                                 The
option price of each share of Stock subject to an Incentive Stock Option shall
be at least 100% of the Fair Market Value of a share of the Stock on the
Granting Date.

 

(c)                                  The
option price of each share of Stock subject to a Nonstatutory Stock Option
shall be 100% of the Fair Market Value of a share of the Stock on the Granting
Date, or such other price either greater than or less than the Fair Market
Value (but in no event less than the

 

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par value of the Stock) as the Committee shall determine appropriate to
the purposes of the Plan and to the Company’s total compensation program.

 

(d)                                 The
Committee shall determine and designate from time to time those persons who are
to be granted Stock Options and whether the particular Stock Options are to be
Incentive Stock Options or Nonstatutory Stock Options, and shall also specify
the number of shares covered by and the option price per share of each Stock
Option.  Each Stock Option granted under
the Plan shall be clearly identified as to its status as a Nonstatutory Stock
Option or an Incentive Stock Option.

 

(e)                                  The
aggregate Fair Market Value (determined at the time the Stock Option is
granted) of the Stock with respect to which Incentive Stock Options are
exercisable for the first time by any individual during any calendar year
(under all plans of the individual’s employer corporation and its parent and
subsidiary corporations) shall not exceed $100,000.

 

(f)                                    A
Stock Option shall be exercisable during such period or periods and in such
installments as shall be fixed by the Committee at the time the Stock Option is
granted or in any amendment thereto; but each Stock Option shall expire not
later than ten years from the Granting Date.

 

(g)                                 The
Committee shall have the authority to grant both transferable Stock Options and
nontransferable Stock Options, and to amend outstanding nontransferable Stock
Options to provide for transferability. 
Each nontransferable Stock Option intended to qualify under Rule 16b-3 or
otherwise shall provide by its terms that it is not transferable otherwise than
by will or the laws of descent and distribution or, except in the case of
Incentive Stock Options, pursuant to a “qualified domestic relations order” as
defined by the Code, and is exercisable, during the Grantee’s lifetime, only by
the Grantee.  Each transferable Stock
Option may provide for such limitations on transferability and exercisability
as the Committee may designate at the time a Stock Option is granted or is
otherwise amended to provide for transferability.

 

(h)                                 Stock
Options may be granted to an Employee or Director who has previously received
Stock Options or other options whether such prior Stock Options or other
options are still outstanding, have previously been exercised or surrendered in
whole or in part, or are canceled in connection with the issuance of new Stock
Options.

 

(i)                                     Without
in any way limiting the authority of the Committee to make grants of Stock
Options under the Plan, and in order to induce persons to retain ownership of
Stock, the Committee shall have the authority (but not the obligation) to
include within any agreement reflecting a Stock Option a provision entitling
the Grantee of such a Stock Option to a further Stock Option (a “Progressive
Stock Option”) in the event the Grantee exercises such Stock Option evidenced
by such agreement, in whole or in part, by surrendering other shares of Stock
in accordance with this Plan and the terms and conditions of such agreement.  Any such Progressive Stock Option shall be
for a number of shares of Stock equal to the number of surrendered shares,
shall become exerciseable no sooner than six months after the Granting Date of
the Stock Option or such longer period as the Committee may establish, shall have
an option price per share equal to one hundred percent (100%) of the Fair
Market Value of a share of Stock

 

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on the Granting Date of the Progressive Stock Option, and shall be
subject to such other terms and conditions as the Committee may determine.

 

(j)                                     Notwithstanding
the foregoing, the option price of an Incentive Stock Option in the case of a
Grantee who owns more than ten percent of the total combined voting power of
all classes of stock of the Company or any of its Subsidiaries, will not be
less than one-hundred-ten percent (110%) of the Fair Market Value of the Stock
at the Granting date and in the case of such a Grantee, the Incentive Stock
Option may be exercised no more than five years after the Granting Date.

 

SECTION 6.                            EXERCISE OF STOCK OPTIONS

 

(a)                                  Except
as provided in Section 8, no Stock Option may be exercised at any time unless
the Grantee is an Employee on the Date of Exercise and, in the case of holders
of Incentive Stock Options, has been an Employee at all times during the period
beginning on the Granting Date and ending on the day 3 months before the date
of such exercise.

 

(b)                                 The
Grantee shall pay the option price in full on the Date of Exercise of a Stock
Option in cash, by check, or by delivery of full shares of Stock of the
Company, duly endorsed for transfer to the Company with signature
guaranteed,  by any combination thereof
or by such other mode of payment as the Committee may approve, including
payment through a broker in accordance with procedures permitted by rules and
regulations of the Federal Reserve Board. 
Stock will be accepted at its Fair Market Value on the Date of Exercise.

 

(c)                                  Subject
to the approval of the Committee, or of such person to whom the Committee may
delegate such authority (“its designee”), and subject further to the applicable
regulations of any governmental authority, the Company may loan to the Grantee
a sum equal to an amount which is not in excess of 100% of the purchase price
of the shares of Stock acquired upon exercise of a Stock Option, such loan to
be evidenced by the execution and delivery of a promissory note.  Interest shall be paid on the unpaid balance
of the promissory note at such times and at such rate as shall be determined by
the Committee or its designee.  Such
promissory note shall be secured by the pledge to the Company of shares of
Stock having an aggregate purchase price on the date of purchase equal to or
greater than the amount of such note.  A
Grantee shall have, as to such pledged shares of Stock, all rights of ownership
including the right to vote such shares of Stock and to receive dividends paid
on such shares of Stock, subject to the security interest of the Company.  Such shares of Stock shall not be released by
the Company from the pledge unless the proportionate amount of the note secured
thereby has been repaid to the Company; provided, however that shares of Stock
subject to a pledge may be used to pay all or part of the purchase price of any
other option granted hereunder or under any other stock incentive plan of the
Company under the terms of which the purchase price of an option may be paid by
the surrender of shares of Stock, subject to the terms and conditions of this
Plan relating to the surrender of shares of Stock in payment of the exercise
price of an option.  In such event, that
number of the newly purchased shares of Stock equal to the shares of Stock
previously pledged shall be immediately pledged as substitute security for the
pre-existing debt of the Grantee to the Company, and thereupon shall be subject
to the provisions hereof relating to pledged shares of Stock.  All notes executed hereunder shall be payable
at such times and in such amounts and shall contain such other terms as shall
be specified by the Committee or its designee

 

5

 

or stated in the option agreement; provided, however, that such terms
shall conform to requirements contained in any applicable regulations which are
issued by any governmental authority.

 

SECTION 7.                            STOCK APPRECIATION RIGHTS

 

(a)                                  The
Committee may grant to any Employee, Stock Appreciation Rights in connection
with any Stock Option.  Stock
Appreciation Rights may be granted at the time the related Stock Option is
granted or at any time thereafter up to six months prior to the expiration of
the related Stock Option.

 

(b)                                 Stock
Appreciation Rights shall be exercisable at such times and to the extent that
the related Stock Option shall be exercisable and only to the extent the Stock Appreciation
Right has a positive value, unless the Committee specifies a more restrictive
period.

 

(c)                                  Upon
the exercise of a Stock Appreciation Right, the Grantee shall surrender the
related Stock Option or a portion thereof and shall be entitled to receive
payment of an amount determined by multiplying the number of shares as to which
the Stock Option rights are surrendered by the difference obtained by
subtracting the exercise price per share of the related Stock Option from the
Fair Market Value of a share of Stock on the Date of Exercise of the Stock
Appreciation Right.

 

(d)                                 Payment
of the amount determined under Section 7(c) shall be made in Stock, in cash, or
partly in cash and partly in Stock as the Committee shall determine in its sole
discretion.

 

(e)                                  Except
as provided in Section 10(b), the exercise of a Stock Appreciation Right for
cash may be made only during the period beginning on the third business day
following the release of quarterly or annual financial data and ending on the
twelfth business day following such date.

 

SECTION 8.                            TERMINATION OF EMPLOYMENT

 

Except as otherwise provided by the Committee at the
time the Stock Option is granted or any amendment thereto, if a Grantee ceases
to be an Employee then:

 

(a)                                  if
termination of employment is voluntary or involuntary without cause, the
Grantee may exercise each Stock Option held by the Grantee within three months
after such termination (but not after the expiration date of the Stock Option)
to the extent of the number of shares subject to the Stock Option which are
purchasable pursuant to its terms at the date of termination;

 

(b)                                 if
termination is for cause, all Stock Options held by the Grantee shall be
canceled as of the date of termination;

 

(c)                                  subject
to the provisions of Section 8(d), if termination is (i) by reason of
retirement at a time when the Grantee is entitled to the current receipt of
benefits under any retirement plan maintained by the Company or any Subsidiary,
or (ii) by reason of disability, each Stock Option held by the Grantee may be
exercised by the Grantee at any time (but not after

 

6

 

the expiration date of the Stock Option) (within one year of
termination in the case of Incentive Stock Options) to the extent of the number
of shares subject to the Stock Option which were purchasable pursuant to its
terms at the date of termination;

 

(d)                                 if
termination is by reason of the death of the Grantee, or if the Grantee dies
after retirement or disability as referred to in Section 8(c), each Stock
Option held by the Grantee may be exercised by the Grantee’s estate, or by any
person who acquires the right to exercise the Stock Option by reason of the
Grantee’s death, at any time within a period of three years after death (but
not after the expiration date of the Stock Option) to the extent of the total
number of shares subject to the Stock Option which were purchasable pursuant to
its terms at the date of termination; or

 

(e)                                  if
the Grantee should die within three months after voluntary termination of
employment or involuntary termination without cause, as contemplated in Section
8(a), each Stock Option held by the Grantee may be exercised by the Grantee’s
estate, or by any person who acquires the right to exercise by reason of the Grantee’s
death, at any time within a period of one year after death (but not after the
expiration date of the Stock Option) to the extent of the number of shares
subject to the Stock Option which were purchasable pursuant to its terms at the
date of termination.

 

SECTION 9.                            ADJUSTMENTS

 

In the event of any merger, consolidation,
reorganization, recapitalization, stock dividend, stock split or other change
in the corporate structure or capitalization affecting the Stock, there shall
be an appropriate adjustment made by the Committee in the number and kind of
shares that may be granted in the aggregate and to Grantees under the Plan, the
number and kind of shares subject to each outstanding Stock Option and Stock
Appreciation Right and the option prices.

 

SECTION 10.                     TENDER OFFER; CHANGE IN CONTROL

 

(a)                                  A
Stock Option shall become immediately exercisable to the extent of the total
number of shares subject to the Stock Option in the event of (i) a tender offer
by a person or persons other than the Company for all or any part of the
outstanding Stock if, upon consummation of the purchases contemplated, the
offeror or offerors would own, beneficially or of record, an aggregate of more
than 25% of the outstanding Stock, or (ii) a Change in Control of the Company.

 

(b)                                 The
Committee may authorize the payment of cash upon the exercise of a Stock
Appreciation Right during a period (i) beginning on the date on which a tender
offer as described in (a), above, is first published or sent or given to
holders of Stock and ending on the date which is seven days after its
termination or expiration, or (ii) beginning on the date on which a Change in
Control of the Company occurs and ending on the twelfth business day following
such date.

 

SECTION 11.                     GENERAL PROVISIONS

 

(a)                                  Each
Stock Option shall be evidenced by a written instrument containing such terms
and conditions, not inconsistent with this Plan, as the Committee shall
approve.

 

7

 

(b)                                 The
granting of a Stock Option in any year shall not give the Grantee any right to
similar grants in future years or any right to be retained in the employ of the
Company or any Subsidiary or interfere in any way with the right of the Company
or such Subsidiary to terminate an Employee’s employment at any time.

 

(c)                                  The
Company shall have the right to deduct from any payment or distribution under
the Plan any federal, state or local taxes of any kind required by law to be
withheld with respect to such payments or to take such other action as may be
necessary to satisfy all obligations for the payment of such taxes.  In case distributions are made in shares of
Stock, the Company shall have the right to retain the value of sufficient
shares of Stock to equal the amount of tax to be withheld for such
distributions or require a recipient to pay the Company for any such taxes
required to be withheld on such terms and conditions prescribed by the
Committee.

 

(d)                                 No
Grantee shall have any of the rights of a shareholder by reason of a Stock
Option until it is exercised.

 

(e)                                  This
Plan shall be construed and enforced in accordance with the laws of the State
of Delaware (without regard to the legislative or judicial conflict of laws
rules of any state), except to the extent superseded by federal law.

 

SECTION 12.                     AMENDMENT AND TERMINATION

 

(a)                                  The
Plan shall terminate on June 18, 2009 and no Stock Option shall be granted
hereunder after that date, provided that the Board may terminate the Plan at
any time prior thereto.

 

(b)                                 The
Board may amend the Plan at any time without notice, provided however, that the
Board may not, without prior approval by the shareholders, (i) increase the
maximum number of shares of Stock for which Stock Options may be granted
(except as contemplated by the provisions of Section 9), (ii) materially
increase the benefits accruing to participants under the Plan or (iii)
materially modify the requirements as to eligibility for participation in the
Plan.

 

(c)                                  No
termination or amendment of the Plan may, without the consent of a Grantee to whom
a Stock Option shall theretofore have been granted, adversely affect the rights
of such Grantee under such Stock Option.

 

SECTION 13.                     EFFECTIVE DATE

 

The Plan shall become
effective as of the date it is approved by the Company’s stockholders.

 

8Exhibit 10.2

 

AMENDMENT TO

1999 EMPLOYEE STOCK OPTION PLAN

 

This amendment (this “Amendment”)
dated as of February 24, 2004 amends the 1999 Employee Stock Option Plan
(the “Stock Option Plan”) of Acorda Therapeutics, Inc. (the “Company”).

 

W I T N E S S E T H:

 

WHEREAS,
the Company wishes to amend the terms of the Stock Option Plan to provide for
the issuance of restricted stock in addition to stock options and stock
appreciation rights;

 

NOW,
THEREFORE, the Stock Option Plan is amended as follows:

 

1.             Section 2.
Definitions is hereby amended by adding the following definitions:

 

“Award”
means any Stock Option, Stock Appreciation Right or Restricted Stock.

 

“Participant”
shall mean a person selected by the Committee to receive an Award under the
Plan.

 

“Restricted
Period” shall mean the period of time selected by the
Committee during which shares subject to a Restricted Stock Award may be
repurchased by or forfeited to the Company.

 

“Restricted
Stock” shall mean shares of Common Stock awarded to a
Director or Employee under Section 14.

 

In
addition, the definition of “Committee” is deleted in its entirety and replaced
with the following:

 

“Committee”
shall mean the full Board, Compensation Committee of the
Board or such other committee as may be designated by the Board. If and when
the Common Stock is registered under Section 12 of the Securities Exchange
Act of 1934, as amended (the “Act”), to the extent necessary to comply
with Rule 16b-3 under the Act with respect to Option grants to officers
and directors, each member of the Committee shall be a “non-employee director”
within the meaning of Rule 16b-3 and, to the extent necessary to exclude
Options granted under the Plan from the calculation of the income tax deduction
limit under Section 162(m) of the Internal Revenue Code of 1986, as
amended (the “Code”), each member of the Committee shall be an “outside
director” within the meaning of Code Section 162(m). A majority of the
Committee shall constitute a quorum, and acts of the majority of members
present at any meeting at which a quorum is present shall be deemed the acts of
the Committee.  The Committee may also
act by instrument signed by all members of the Committee.

 

2.             The
following new Section 14 is added:

 

 

SECTION 14. 
RESTRICTED STOCK

 

(a)           The
Committee may grant Restricted Stock Awards entitling recipients to acquire
shares of Stock, subject to the right of the Company to repurchase all or part
of such shares at their purchase price or at another price specified in the
Award (or to require forfeiture of such shares if purchased at no cost) from
the recipient in the event that conditions specified by the Committee in the
applicable Award are not satisfied prior to the end of the applicable
Restricted Period or Restricted Periods established by the Committee for such
Award.  Conditions for repurchase (or
forfeiture) may be based on continuing employment or service or achievement of
pre-established performance or other goals and objectives.

 

(b)           Shares
of Restricted Stock may not be sold, assigned, transferred, pledged or
otherwise encumbered, except as permitted by the Committee during the
applicable Restricted Period.  Shares of
Restricted Stock shall be evidenced in such manner as the Committee may
determine.  Any certificates issued in
respect of shares of Restricted Stock shall be registered in the name of the
Participant and, unless otherwise determined by the Committee, deposited by the
Participant, together with a stock power endorsed in blank, with the Company
(or its designee).  At the expiration of
the Restricted Period, the Company (or such designee) shall deliver such
certificates to the Participant or if the Participant has died, to the
Participants’ designated beneficiary.

 

(c)           Restricted
Stock shall be issued for no cash consideration or such minimum consideration
as may be required by applicable law.

 

(d)           The
Committee may at any time accelerate the expiration of the Restricted Period
applicable to all, or any particular, outstanding shares of Restricted Stock.

 

(e)           A
Restricted Stock Award is subject to adjustment on the same terms set forth
under Section 9 of the Plan.

 

3.             Section 4.
Administration of the Plan is hereby amended by replacing the reference to “Stock
Option” in subsection (a) with the term “Award.”

 

4.             Section 11.
General Provisions is hereby amended by (i) replacing the reference
to  “Stock Option” in subsections (a) and
(b) with the term “Award” and (ii) replacing the reference to “Grantee
in subsection (b) with the term “Participant.”

 

5.             Section 12.
Amendment and Termination is hereby amended by (i) replacing all
references to “Stock Option” and “Stock Options” with the term “Award” and “Awards”
and (ii) replacing all references to “Grantee” with the term “Participant.”

 

6.             This
Amendment shall be deemed effective immediately upon receipt of stockholder
approval of its adoption.

 

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