Amendment No. 1 to Allegiance Telecom, Inc. Restricted Stock Agreement

Contract Categories: Business Finance › Modification Agreements
Summary

This amendment, signed on November 5, 2002, updates the vesting schedule for restricted stock previously granted by Allegiance Telecom, Inc. to the individual party. The new schedule specifies the percentage of shares that vest at various dates from February 2003 through February 2005. All other terms of the original agreement remain unchanged. The amendment is effective upon signing by both parties.

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EX-10.22 6 a2107074zex-10_22.txt EX-10.22 EXHIBIT 10.22 AMENDMENT NO. 1 TO ALLEGIANCE TELECOM, INC. RESTRICTED STOCK AGREEMENT This Amendment No. 1 (this "AMENDMENT") to the Allegiance Telecom, Inc. Restricted Stock Agreement dated June 7, 2002 (the "ORIGINAL AGREEMENT") is being signed as of November 5, 2002, by and between Allegiance Telecom, Inc., a Delaware corporation and the person signing below. This Amendment amends certain provisions of the Original Agreement. Capitalized terms used but not defined in this Amendment have the meanings given to such terms in the Original Agreement. NOW, THEREFORE, in consideration of the mutual promises made herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, agree as follows: 1. The vesting schedule contained in Paragraph 2(a) of the Original Agreement is amended as follows:
CUMULATIVE % OF RESTRICTED SHARES VESTING DATE VESTED ON SUCH VESTING DATE - -------------------------------------------------------------------------------- Award Date 0% - -------------------------------------------------------------------------------- February 25, 2003 34.00% - -------------------------------------------------------------------------------- March 31, 2003 36.75% - -------------------------------------------------------------------------------- April 30, 2003 39.50% - -------------------------------------------------------------------------------- May 30, 2003 42.25% - -------------------------------------------------------------------------------- June 30, 2003 45.00% - -------------------------------------------------------------------------------- July 31, 2003 47.75% - -------------------------------------------------------------------------------- August 29, 2003 50.50% - -------------------------------------------------------------------------------- September 30, 2003 53.25% - -------------------------------------------------------------------------------- October 31, 2003 56.00% - -------------------------------------------------------------------------------- November 28, 2002 58.75% - -------------------------------------------------------------------------------- December 31, 2003 61.50% - -------------------------------------------------------------------------------- January 30, 2004 64.25% - -------------------------------------------------------------------------------- February 27, 2004 67.00% - -------------------------------------------------------------------------------- March 31, 2004 69.75% - -------------------------------------------------------------------------------- April 30, 2004 72.50% - -------------------------------------------------------------------------------- May 31, 2004 75.25% - -------------------------------------------------------------------------------- June 30, 2004 78.00% - -------------------------------------------------------------------------------- July 30, 2004 80.75% - -------------------------------------------------------------------------------- August 31, 2004 83.50% - -------------------------------------------------------------------------------- September 30, 2004 86.25% - -------------------------------------------------------------------------------- October 29, 2004 89.00% - -------------------------------------------------------------------------------- November 30, 2004 91.75% - -------------------------------------------------------------------------------- December 31, 2004 94.50% - -------------------------------------------------------------------------------- January 31, 2005 97.25 - -------------------------------------------------------------------------------- February 28, 2005 100% - --------------------------------------------------------------------------------
2. Other than as set forth above, this Amendment does not amend, modify or supplement any other terms of the Original Agreement. This Amendment and the Original Agreement embody the complete agreement and understanding among the parties and supersede and preempt any prior understandings, agreements or representations by or among the parties, written or oral, which may have related to the subject matter hereof in any way. 3. This Amendment may be executed in separate counterparts, none of which need contain the signature of more than one party hereto but each of which will be deemed to be an original and all of which taken together will constitute one and the same agreement. Signed and effective as of the 5th day of November 2002. Signed: -------------------------- Printed Name: -------------------- ALLEGIANCE TELECOM, INC. By: ------------------------------ Name: Royce J. Holland Its: Chairman and Chief Executive Officer