Amendment to the 1997 Equity Participation Plan of Guitar Center, Inc.
This amendment, made by the Board of Directors of Guitar Center, Inc., changes the 1997 Equity Participation Plan by increasing the total number of shares that may be issued under the plan to 3,725,000. The amendment is authorized under the plan's existing provisions and is intended to update the share limit for options, rights, or awards granted to participants. No other terms of the plan are changed by this amendment.
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Exhibit 10.37
AMENDMENT
TO THE
1997 EQUITY PARTICIPATION PLAN
OF
GUITAR CENTER, INC.
Pursuant to the authority reserved to the Board of Directors (the "Board") of Guitar Center, Inc., a corporation organized under the laws of State of Delaware, under Section 10.2 of the 1997 Equity Participation Plan of Guitar Center, Inc. (the "Plan"), the Board hereby amends the Plan as follows.
1. The second sentence of Section 2.1(a) of the Plan is amended to read in its entirety as follows:
"The aggregate number of such shares which may be issued upon exercise of such options or rights or upon any such awards under the Plan shall not exceed three million, seven hundred twenty-five thousand (3,725,000)."
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- Exhibit 10.37
