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Gold/Mining/Energy : PYNG Technologies
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To: m. jacobs who wrote (4387)8/19/1999 4:26:00 PM
From: AriKirA  Read Replies (2) of 8117
 
FYI

23.8 Amending Stock Option agreements

23.8.1 The Company may amend the terms of a stock option agreement or plan without the acceptance of the exchange, provided a news release is issued, if the amendment is reducing the number, increasing the price or canceling the option. The other terms of a stock option agreement or plan may be amended if the following requirements are satisfied:

a) shareholder approval must be obtained if the optionee is an insider of the company at the time of the amendment;

[...]

c) any renegociation of the term of the stock option will be treated as a grant of a new option requiring compliance with pricing and other terms of this policy. A company cannot change the term of an option until one year has passed since the date the option was granted

[...]

For the purposes of this Policy, a cancellation and subsequent re-grant of a stock option will be subject to the time limits and requirements in sections b to d above

Some food for thought

AK
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