Amendment to Interim Co-CEO Stock Option Agreement between PVI and David Sitt

Summary

This agreement amends the terms of David Sitt's service as interim co-Chief Executive Officer of PVI. It states that Sitt will receive options to purchase 10,000 shares of PVI common stock for each month he serves in this role, from October 30, 2002, through May 8, 2003. The options are granted as of October 30, 2002, but will vest monthly based on his continued service, with adjustments if he serves for a shorter period.

EX-10.1 3 w65706exv10w1.txt AGREEMENT BETWEEN PVI AND DAVID SITT EXHIBIT 10.1 Effective October 30,2002, the agreement between PVI and David Sitt regarding Mr. Sitt's service as interim co-Chief Executive Officer of PVI was amended to provide that the options to purchase shares of PVI common stock which were to be granted at the rate of 10,000 shares for each calendar month in which he serves as interim co-Chief Executive Officer through May 8, 2003, (subject to pro-ration for any shorter period) were granted as of October 30, 2002, subject to vesting at the rate of 10,000 shares for each calendar month (subject to pro-ration for any shorter period) in which he serves as interim co-Chief Executive Officer through May 8, 2003.