vote no on resolutions 3 & 4

Why on earth would share holders want to allow the directors to adjust their options now just because the share price has come back. Its kind of like saying, whoops, I meant to sell my shares at a better price... If its ok with you other share holders, Ill just do that now thank you very much.

Can someone please explain how this is not a great big chutzpah (rip off)?

Let the directors work a little harder and get the price back up to $2.50. I happen to think that $2.50 is very achievable, especially given the time frame.