I feel it necessary to point out to all those who think they have no power over this, the clause says

"the approval of the disinterested Shareholders of the Corporation will be required prior to the exercise of any such options at the reduced exercise price."

That means you - none of the people affected by the re-pricing get a vote just all of us, the "disinterested shareholders".

Don't get your knickers in a twist - this is standard wording and I have only ever seen options repriced in the days of the internet implosion where everyone had silly valuations at the time options were priced initially (not the case here). And it was usually just for the rank and file employees the tech company in question was at a risk of losing.