AMENDMENT TO DYADIC INTERNATIONAL, INC. 2001 EQUITY COMPENSATION PLAN THIS AMENDMENT (this "Amendment") is made and entered into as of the 28th day of September, 2004, by DYADIC INTERNATIONAL, INC., a Florida corporation (the "Company") for the purpose of amending the "Dyadic International, Inc. 2001 Equity Compensation Plan" (the "Plan"). Capitalized terms not expressly defined herein shall have the meaning assigned them in the Plan. RECITALS: A. The Company adopted the Plan by the action of the Company's Board of Directors on or about May 1, 2001, and the shareholders of the Company approved the Company's adoption of the Plan on or about May 1, 2001. B. On September 28, 2004, the Board of Directors authorized the increase in the number of Shares reserved for issuance under the Plan from 1,302,989 Shares to 5,152,447 Shares. C. On September 28, 2004, the shareholders of the Company approved the increase in the number of Shares reserved for issuance under the Plan by the written consent of holders of a majority of the Company's outstanding shares,. AGREEMENT: NOW, THEREFORE, in consideration of the foregoing recitals, the Plan is hereby amended as follows: 1. Section 3(a) of the Plan is hereby amended by deleting therefrom the number "1,302,989" and substituting therefor the number "5,152,447." 2. Except as amended by this Amendment, all of the terms and provisions of the Plan shall remain in full force and effect. IN WITNESS WHEREOF, the undersigned, for, on behalf of and in the name of the Company, has caused this Amendment to be executed as of the date and year first above-written. DYADIC INTERNATIONAL, INC. By: /s/ Mark A. Emalfarb ----------------------------------------- President and Chief Executive Officer
Dyadic International Inc., DE (DYAI) 8-KEntry into a Material Definitive Agreement
Filed: 4 Nov 04, 12:00am