First Amendment to Accuride Corporation Employee Stock Purchase Plan
Accuride Corporation has amended its Employee Stock Purchase Plan, effective January 1, 2006. The amendment changes the option price for employees purchasing company stock under the plan to 95% of the stock's fair market value on the exercise date, but not less than the stock's par value of $0.01 per share. This amendment was approved by the company's Board of Directors and signed by the President.
Exhibit 10.5
FIRST AMENDMENT TO THE
ACCURIDE CORPORATION EMPLOYEE STOCK PURCHASE PLAN
Accuride Corporation (the “Company”), a corporation organized under the laws of the State of Delaware, established and maintains the Accuride Corporation Employee Stock Purchase Plan, effective April 26, 2005 (the “Plan”).
In order to amend the Plan in certain respects, this First Amendment to the Plan has been adopted by a resolution of the Board of Directors of the Company on December 16, 2005, effective as set forth below. This First Amendment to the Plan, together with the Plan, constitutes the entire Plan as amended to date.
1. Effective as of January 1, 2006, Section 4.2 of the Plan is hereby amended to read in its entirety as follows:
“4.2 Option Price. The Option Price per share of the Common Stock sold to Participants hereunder shall be 95% of the Fair Market Value of such share of Common Stock on the Exercise Date of such Offering Period, but in no event shall the Option Price per share be less than the par value per share ($0.01) of the Common Stock.”
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Executed on December 16, 2005.
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| ACCURIDE CORPORATION | |
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| By: | |
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| /s/ Terrence J. Keating |
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| Terrence J. Keating | |
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| President | |
