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| Previously,
one of our Employee Benefits Tips of the Week notified you that new final
incentive stock option (ISO) regulations provide that an ISO plan must
specify a separate maximum aggregate number of shares available for
issuance pursuant to the exercise of incentive stock options if the
plan also allows other equity incentive awards, and that this new
requirement will no doubt require changes to many existing ISO
plans.
The time deadline for making such a change may be rapidly approaching. The new requirement (and the new regulations) will apply to incentive stock options (ISO's) which are granted on or after the earlier of (1) January 1, 2006, or (2) the first regularly scheduled stockholders meeting of the issuing corporation occurring after March 3, 2005 (such earlier date being the "Deadline Date"). So, if your company will be having a regular shareholders meeting soon after March 3, 2005, your "Deadline Date" could be rapidly approaching.
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