Amendment to Employment Agreement Between Schick Technologies, Inc. and David Schick (March 4, 2002)
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Summary
Schick Technologies, Inc. and David Schick have amended their employment agreement to update the terms regarding stock options. David Schick will receive 150,000 employee stock options under the company's 1996 Employee Stock Option Plan. Of these, 50,000 options are issued as of December 20, 2001, at an exercise price of $1.05, and 100,000 options are issued as of February 19, 2002, at an exercise price of $2.37. The options will vest in three equal parts over three years, with full vesting by December 20, 2004.
EX-10.39 6 d50818_ex10-39.txt AMENDMENT OF EMPLOYMENT AGREEMENT David Schick 137-40 75th Road Flushing, New York 11367 March 4, 2002 Re: Amendment of Employment Agreement Between Schick Technologies, Inc. (the "Company") and David Schick, dated December 20, 2001. Dear David: Pursuant to the Resolution of the Company's Board of Directors, adopted February 19, 2002, this letter serves to amend the Employment Agreement entered into between Schick Technologies, Inc. and David Schick, dated December 20, 2001, by deleting therefrom Section III, paragraph 3, and replacing it with the following provision: One hundred fifty thousand (150,000) employee stock options, to be issued as follows, pursuant to the Company's 1996 Employee Stock Option Plan: (i) 50,000 of such options shall be issued as of December 20, 2001, and shall have an exercise price equal to $1.05; and the remaining 100,000 of such options shall be issued as of February 19, 2002, and shall have an exercise price of $2.37; and (ii) the options shall vest in increments of one-third over the 3-year term of this Agreement (i.e., 50,000 shall be vested as of December 20, 2002, an additional 50,000 shall be vested as of December 20, 2003, and the remaining 50,000 shall be vested as of December 20, 2004). Kindly acknowledge your agreement with the contents of this letter by signing below. Thank you, /S/ Jeffrey Slovin /S/ David Schick ------------------ ---------------- Jeffrey Slovin David Schick President & C.O.O. C.E.O.
