This book examines the verb derivation in Modern Greek within an alternations framework and suggests a new model of analysis for verb derivation in general. The Greek-izo verb derivatives constitute the focus of this study. The analysis is mainly motivated by Beth Levin’s work, who attempts to define significant meaning components for the English verb on the basis of diathesis alternations. The proposed model incorporates a version of Ray Jackendoff’s conceptual semantics. Issues covered in the book include the definition of five alternations for the Modern Greek verb and the identification of the underlying conceptual structures in -izo derivation. Furthermore, the alternation classes in which the -izo verbs appear are presented with a focus on the regularities inside these classes in relation to conceptual structures and semantic/situational fields. A principled account of the splitting of verb units is also provided and an attempt is made to answer the question of why a number of derivatives does not alternate. The book will appeal to students and researchers interested in lexical semantics, verb morphology, Modern Greek, lexiocology, and the universals research.