Attached files
| file | filename |
|---|---|
| 8-K - RAND WORLDWIDE INC | v194406_8k.htm |
| EX-9.1 - RAND WORLDWIDE INC | v194406_ex9-1.htm |
| EX-4.1 - RAND WORLDWIDE INC | v194406_ex4-1.htm |
| EX-2.1 - RAND WORLDWIDE INC | v194406_ex2-1.htm |
| EX-10.1 - RAND WORLDWIDE INC | v194406_ex10-1.htm |
| EX-16.1 - RAND WORLDWIDE INC | v194406_ex16-1.htm |
| EX-10.2 - RAND WORLDWIDE INC | v194406_ex10-2.htm |
| EX-10.6 - RAND WORLDWIDE INC | v194406_ex10-6.htm |
| EX-10.3 - RAND WORLDWIDE INC | v194406_ex10-3.htm |
| EX-99.1 - RAND WORLDWIDE INC | v194406_ex99-1.htm |
| EX-10.5 - RAND WORLDWIDE INC | v194406_ex10-5.htm |
Exhibit
10.4
AVATECH SOLUTIONS,
INC.
FIRST AMENDMENT TO STOCK
OPTION
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OPTIONEE:
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|
|
NUMBER
OF SHARES:
|
|
|
EXERCISE
PRICE:
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$
|
|
EXPIRATION
DATE:
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|
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GRANT
DATE:
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THIS FIRST AMENDMENT TO STOCK
OPTION (this “First Amendment”) is entered into on this 17th day of
August, 2010 by and between AVATECH SOLUTIONS, INC., a
Delaware corporation, and the Optionee named above. Capitalized terms
used but not defined herein shall have the meanings given such terms in the
Company’s 2002 Stock Option Plan (the “Plan”) and the Option (as defined
below).
1. Amendment. Pursuant
to a Stock Option (the “Option”) dated as of the Grant Date stated above, the
Optionee was granted an option to purchase the number of shares of the Company’s
common stock stated above, par value $.01 per share, at the exercise price per
share stated above, which the Board has determined to be the fair market value
of the Common Stock as of the Grant Date. The parties desire to amend
Section 2.3 by deleting it in its entirety and substituting the following in
lieu thereof:
2.3. Termination.
2.3.1 Removal; Voluntary
Termination. In the event that (i) the Optionee is removed
from the Board or (ii) the Optionee’s service with the Board otherwise
terminates, other than as a result of the Optionee’s death or in connection with
a Change in Control, then all of Optionee’s rights under this Option shall
terminate effective as of the date his service is terminated.
2.3.2 Termination in Connection
with a Change in Control. In the event that the Optionee
resigns or his service is otherwise terminated in connection with a Change in
Control, then the Optionee shall be entitled to Exercise this Option to the same
extent that it would have been exercisable on the effective date of the
termination of his or her service for a period of one (1) year thereafter (but
in no event later than the Expiration Date).
2. Miscellaneous. The
parties agree that this First Amendment shall be construed, interpreted, and
enforced in accordance with the laws of the State of Delaware without reference
to the rules governing conflict of laws. This First Amendment shall
also be construed consistent with the Plan. In the event of any
conflict between the provisions of the Plan and this First Amendment, the
provisions of the Plan shall control. This First Amendment may be
executed in one or more counterparts, each of which constitutes a duplicate
original.
In witness
whereof, the parties have caused this First Amendment to be signed under
seal as of the date first above written.
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OPTIONEE:
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AVATECH
SOLUTIONS, INC.
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(seal)
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By:
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(seal)
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Lawrence
Rychlak, President
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||||
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Chief
Financial
Officer
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||||
2