50 of the Top 250 law firms use our Products every day
Exhibit 10.22
PARTIAL WAIVER OF AUTOMATIC OPTION GRANT
Reference is made to that certain
Restated Omnibus Incentive Plan (Formerly the Restated 1988
Executive Stock Option Plan) (the “Plan”)
of CorVel Corporation, a Delaware corporation (the
“Company”) , as amended and restated
through June 27, 2006. Pursuant to Article III of the
Plan, each eligible non-employee Board member of the Company who
has not at any time been in the prior employ of the Company (or any
parent or subsidiary) shall, on the date of his or her initial
appointment to the Board, automatically be granted a non-statutory
option (the “Automatic Grant”) to
purchase seven thousand five hundred (7,500) shares of the
Company’s Common Stock, as adjusted from time to time
pursuant to the terms of the Plan. On December 8, 2006, the
Company effectuated a three-for-two stock split in the form of a
50% stock dividend (the “Stock Split”) .
Accordingly, pursuant to the terms of Section II.A.(ii) of
Article III and Section V.C.(iii)
|
