This excerpt taken from the LUX 20-F filed Jun 28, 2006.
Termination and Amendment of Plan and Options.
(a) The Board may at any time terminate, suspend or modify the Plan, without the authorization of shareholders to the extent allowed by law.
(b) The Board may modify the terms of any Option, and authorize the exchange or replacement of Options; provided, however, that in no event shall the Board be permitted to reduce the exercise price of any outstanding Option or to exchange or replace an outstanding Option with a new Option with a lower exercise price.
(c) No termination, suspension or modification of the Plan or modification, exchange, or replacement of an Option shall adversely affect any right acquired by any Participant, or any other person designated in Section 11, under an Option granted before the effective date of such termination, suspension, modification, exchange, or replacement unless such Participant or other person shall consent; but it shall be conclusively presumed that any adjustment for changes in capitalization as provided for in Section 10 do not adversely affect any such right.