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EXHIBIT 10.1
AMENDMENT NO.
1
TO
ZIONS
BANCORPORATION
2005 STOCK OPTION AND
INCENTIVE PLAN
Amendment, effective as of
May 8, 2007, to the Zions Bancorporation (the
“Company”) 2005 Stock Option and Incentive Plan (the
“Plan”).
WHEREAS, the Compensation
Committee of the Board of Directors desires to amend
Section 2.13 of the Plan modify the number of shares of the
Company’s common stock purchasable under options granted to
directors annually; and
WHEREAS, Section 2.13(b)
of the Plan authorizes the Compensation Committee to modify the
number of shares purchasable under options granted to directors in
its discretion;
NOW THEREFORE, the Plan shall
be amended as follows:
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1. |
Section 2.13(b) of the Plan shall be amended to read in
its entirety as follows: |
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2.13 |
Director Stock Options |
(b) Grant of director
stock options . Until and unless the Committee in its
discretion determines otherwise, pursuant to this section 2.13
(i) on the first business day after the date the Plan is
approved by the Company’s shareholders, each Non-Employee
Director shall automatically be
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