Amendment to Restricted Stock Agreement between DDi Corp. and Bruce McMaster (and Other Executives)

Contract Categories: Business Finance › Modification Agreements
Summary

This amendment updates the vesting schedule for restricted stock granted to Bruce McMaster by DDi Corp. Under the new terms, half of the restricted stock will vest on the later of February 15, 2004, or three business days after the company announces its earnings for the quarter ending December 31, 2003. The remaining half will vest on June 1, 2005. All other terms of the original agreement remain unchanged. Similar amendments were made with other executive officers.

Read More Arrow
EX-10.1 2 dex101.htm FORM OF AMENDMENT TO RESTRICTED STOCK AGREEMENT Form of Amendment to Restricted Stock Agreement

EXHIBIT 10.1

 

AMENDMENT TO RESTRICTED STOCK AGREEMENT

 

Reference is made to that certain Restricted Stock Agreement (the “Agreement”) dated as of December 19, 2003 between DDi Corp. and Bruce McMaster (“Employee”). Capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Agreement.

 

The Agreement is hereby amended as of January 10, 2005 as follows.

 

Section 2., entitled, “Vesting of Restricted Stock” is replaced in its entirety to read:

 

“The Restricted Stock shall vest as follows:

 

(a) fifty percent (50%) of the Restricted Stock on the later of (i) February 15, 2004, and (ii) the date that is three (3) business days after the public announcement by the Company of its earnings and results of operations for the fiscal quarter ending December 31, 2003; and

 

(b) fifty percent (50%) on June 1, 2005.”

 

Aside from the changes set forth above, the Agreement shall remain unaltered.

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first written above.

 

EMPLOYEE

      

DDi Corp.

By:   /s/ BRUCE MCMASTER       By:   /s/ TIMOTHY J. DONNELLY

Name:

   Bruce McMaster       Name:   Timothy J. Donnelly
            Title:   General Counsel

SCHEDULE TO EXHIBIT 10.1

 

DDi Corp. entered into Amendments to Restricted Stock Agreements on January 10, 2005 substantially identical to this Exhibit 10.1 with the following other executive officers: Michael Moisan, Thomas Ingham and Timothy Donnelly.