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These excerpts taken from the TTWO 8-K filed Apr 23, 2009. NOW, THEREFORE, pursuant to Section 9
of the Incentive Stock Plan, subject to, and effective as of, the
Approval, the Incentive Stock Plan is hereby amended as follows:
1. The following paragraph is hereby added to the end of Section 3 of the Incentive Stock Plan to read as follows:
“Notwithstanding the foregoing, all shares of Stock available for grant under the Plan as of the close of business on the date (the “Approval Date”) that the Company’s stockholders approve (the “Approval”) the Take-Two Interactive Software, Inc 2009 Stock Incentive Plan (the “2009 Plan”) shall be transferred to the 2009 Plan effective as of the close of business on Approval Date. Following the close of business on the Approval Date, no shares of Stock will be available for the grant of awards under the Plan and shares of Stock that are subject to any award under the Plan that are forfeited after the close of business on the Approval Date shall not be available for grant under the Plan.”
2. The following paragraph is hereby added to the end of Section 4 of the Incentive Stock Plan to read as follows:
“Notwithstanding anything herein to the contrary, no awards shall be granted under the Plan following the Approval.”
NOW, THEREFORE, pursuant to Section 14
of the 2002 Plan, subject to, and effective as of, the
Approval, the 2002 Plan is hereby amended as
follows:
1. The following sentences are hereby added to the end of Section 2 of the 2002 Plan to read as follows:
“Notwithstanding the foregoing, all shares of Common Stock available for grant under the 2002 Plan as of the close of business on the date (the “Approval Date”) that the Company’s stockholders approve (the “Approval”) the Take-Two Interactive Software, Inc 2009 Stock Incentive Plan (the “2009 Plan”) shall be transferred to the 2009 Plan effective as of the close of business on Approval Date. Following the close of business on the Approval Date, no shares of Common Stock will be available for the grant of options under the 2002 Plan and shares of Common Stock represented by any options under the 2002 Plan that expire, terminate or are surrendered for cancellation for any reason without having been exercised after the close of business
on the Approval Date shall not be available for subsequent option grants under the 2002 Plan.”
2. The following sentence is hereby added to the end of Section 4 of the 2002 Plan to read as follows:
“Notwithstanding anything herein to the contrary, no options shall be granted under the 2002 Plan following the Approval.”
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