Attached files
Exhibit 10.8(a)
AMENDMENT NO. 1
TO THE
YUMA ENERGY, INC.
2014 LONG-TERM INCENTIVE PLAN
This
Amendment No. 1 to the Yuma Energy, Inc. 2014 Long-Term Incentive
Plan (the “Plan”) was approved and adopted by the Board
of Directors of Yuma Energy, Inc. (the “Company”) on
June 16, 2016, subject to approval by the shareholders of the
Company, which was obtained on October 26, 2016. Accordingly, the
Plan is hereby amended, effective as of October 26, 2016, as
follows:
1.
Section 2.10 of the
Plan is hereby deleted in its entirety and replaced with the
following:
“Company”
means Yuma Energy, Inc., a Delaware
corporation.”
2.
The first sentence
of Section 3.1 of the Plan is hereby deleted in its entirety and
replaced with the following:
“Subject to
the limitations set forth herein, 4,990,000 shares of Common Stock
are reserved for issuance pursuant to Awards made under this
Plan.”
3.
Section 4.1(a) of
the Plan be deleted in their entirety and replaced with the
following:
“(a) Subject
to Article XII, (i) the aggregate number of shares of Common Stock
made subject to the grant of Options and/or SARs to any Eligible
Employee in any calendar year may not exceed 1,500,000 and (ii) the
maximum aggregate number of shares that may be issued under this
Plan through Incentive Stock Options is
1,000,000.”
4.
Section 4.1(b) of
the Plan be deleted in their entirety and replaced with the
following:
“(b)
Subject to Article XII, the aggregate number of shares of Common
Stock made subject to the grant of Restricted Stock Awards,
Restricted Stock Unit Awards, Performance Unit Awards, Performance
Bonus Awards, Stock Awards and Other Incentive Awards to any
Eligible Employee in any calendar year may not exceed
700,000.”
In all
other respects, the Plan remains unchanged and in full force and
effect, and such Plan as hereby amended is approved and
adopted.
IN WITNESS WHEREOF, this Amendment No. 1
to the Plan has been executed to be effective as of October 26,
2016.
YUMA
ENERGY, INC.
By:
/s/ Sam L.
Banks
Name:
Sam L. Banks