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Frequently Asked Questions
  Is an amendment to a plan to extend the term of an option considered a material amendment?
Identification Number 229
Generally, extending the term of an option is not considered a material amendment, provided that the extension is not beyond the maximum term permissible under the plan. For example, consider a plan that authorizes the plan administrator to grant awards with a term of up to ten years. If an option is granted with a term of five years, and the plan administrator subsequently changes the term to ten years, it is not a material amendment to the plan. The same analysis would also apply to the extension of a post-termination exercise period.
Publication Date*: 7/31/2012 Mailto Link Identification Number: 229
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