Amendment to Guitar Center, Inc. 2005 Long Term Incentive Plan

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This amendment, executed by Guitar Center, Inc. on February 21, 2007, modifies the company's 2005 Long Term Incentive Plan. The change, authorized by the Compensation Committee, replaces Section 4.1 to specify that all options granted under the plan will now be issued pursuant to the Stock Award Plan. The amendment clarifies how stock options are to be administered for eligible participants.

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EX-10.1 2 v066891_ex10-1.htm Unassociated Document
Exhibit 10.1
AMENDMENT
TO THE
GUITAR CENTER, INC.
2005 LONG TERM INCENTIVE PLAN

Pursuant to the authority reserved to the Compensation Committee of the Board of Directors (the “Committee”) of Guitar Center, Inc. (the “Company”), a corporation organized under the laws of State of Delaware, under Section 7.1 of the Guitar Center, Inc. 2005 Long Term Incentive Plan (the “Plan”), the Committee hereby amends the Plan as follows.

 
1. Effective as of February 21, 2007, Section 4.1 of the Plan is hereby deleted in its entirety and replaced with the following:
 
“4.1. General. All Options under the Plan shall be granted pursuant to the Stock Award Plan.”
 
 
 
* * * * * * * *
 
Executed on February 21, 2007
 

 
 
GUITAR CENTER, INC.
   
   
 
Officer