Amendment No. 1 to Amended and Restated Employment Agreement between Alamosa Holdings, Inc. and David E. Sharbutt

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment, effective January 1, 2004, updates the employment agreement between Alamosa Holdings, Inc. and David E. Sharbutt. It changes the annual bonus target to $250,000 and revises the schedule and timing for granting stock options to the employee from 2003 through 2007. The amendment also confirms the attachment of Exhibit A to the agreement. All other terms of the original employment agreement remain in effect.

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EX-10.57 8 file002.htm EMPLOYMENT AGREEMENT AMENDMENT 
  Exhibit 10.57 AMENDMENT NO. 1 TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT AMENDMENT (this "Amendment") made as of March 8, 2004 by and between Alamosa Holdings, Inc., a Delaware corporation ("Alamosa"), and David E. Sharbutt (the "Employee"). This Amendment amends the Amended and Restated Employment Agreement (the "Employment Agreement") made as of October 1, 2002 between Alamosa and the Employee. 1. The Employment Agreement is hereby amended by restating the first sentence of Section 4 in its entirety to read as follows: Employee shall be eligible to receive an annual bonus, which shall have a target of $250,000. 2. The Employment Agreement is hereby amended by restating the first and second sentences of Section 6(b) in their entirety to read as follows: In addition, the Committee shall grant Employee additional options according to the following schedule: 2003 - 250,000 options, 2004 - 425,000 options, 2005 - 300,000 options, 2006 - 240,000 options and 2007 - 100,000 options. Except in respect of 2003, one half of the annual options will be granted in January and one half in July and for 2004 one half of the annual options will be granted prior to July 2004. 3. Employee hereby acknowledges that Exhibit A to the Employment Agreement is attached as Exhibit A hereto.  IN WITNESS WHEREOF, the parties have duly executed this Amendment effective as of January 1, 2004. ALAMOSA HOLDINGS, INC. By: /s/ Kendall Cowan ------------------------------------------ EMPLOYEE /s/ David E. Sharbutt ----------------------------------------------