Marlin Business Services Corporation

07/30/2021 | Press release | Distributed by Public on 07/30/2021 12:16

Quarterly Report (SEC Filing - 10-Q)

FIRST AMENDMENT TO
MARLIN BUSINESS SERVICES CORP.
2019 EQUITY COMPENSATION PLAN
This First Amendment(this '
Amendment
') to theMarlin Business ServicesCorp. 2019 EquityCompensation Plan (asin
effect from timeto time, the'
Plan
'), shall beeffective on June2, 2021, subjectto approval bythe Company's shareholders.
Capitalized terms used herein, but not otherwise definedherein, have the respective meanings ascribedto them in the Plan.
WHEREAS,pursuanttoSection 19ofthePlan,theBoarddesirestoamendSection 3(a)ofthePlantoincreasethe
maximum number of shares of Company Stock that may be issued pursuantto Grants under the Plan.
NOW THEREFORE, it is hereby acknowledged and agreed that:
1.
SharesAuthorized
.ThefirstsentenceofSection3(a) ofthePlanisherebyamended andrestatedinitsentiretyas
follows:
Subjecttoadjustmentasdescribedbelow,atotalof867,331sharesofcommon stockoftheCompany ('Company
Stock') shall be authorized for Grants under the Plan, less one (1) share for every one (1) share granted under the Plan
after April 1, 2021 and prior to June 2, 2021 (the 'Plan Limit').
2.
Limits on Incentive StockOptions.
The last sentence ofSection 5(h) of thePlan is herebyamended and restated inits
entirety as follows:
The aggregatenumber ofshares ofCompany Stockthat maybe issuedunder thePlan asIncentive StockOptions is
867,331 shares, and all shares issued under the Plan as Incentive Stock Optionsshall count against the Plan Limit.
3.
Referenceto andEffect onthe Plan
. Exceptas specificallyamended hereby,the Planshall remainin fullforce and
effect and otherwise unmodified. All references in the Plan to the 'Plan' shall meanthe Plan as amended hereby.