Amendment to WESCO International, Inc. Option Plan for Branch Employees

Contract Categories: Business Finance › Modification Agreements
Summary

This amendment updates the WESCO International, Inc. Option Plan for Branch Employees. It changes the rules so that, unless otherwise specified, all outstanding stock options become fully exercisable if there is a change in control of the company, except when the change in control is caused by the employee's own stock ownership. All other terms of the original plan remain unchanged.

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EX-10.3 4 j1893701exv10w3.htm EX-10.3 EX-10.3  

Exhibit 10.3
AMENDMENT TO
WESCO INTERNATIONAL, INC.
OPTION PLAN FOR BRANCH EMPLOYEES
     Pursuant to Section 9 of the WESCO International, Inc. Option Plan for Branch Employees (the “Plan”), the Plan is hereby amended as follows:
     1. Section 8 of the Plan is amended and restated to read in its entirety as follows:
     “8. Change in Control. Unless otherwise provided by the Committee in the applicable Stock Option Agreement, in the event of Change in Control, all Options outstanding on the date of such Change in Control shall become immediately and fully exercisable. The provisions of this Section 8 shall not be applicable to any Options granted to a Participant if any Change in Control results from such Participant’s beneficial ownership (within the meaning of Rule 13d.3 under the Securities Exchange Act of 1934, as amended) of Common Stock.”
     2. Except as expressly provided in this Amendment, the other terms and conditions of the Plan are hereby ratified, affirmed and confirmed in all respects.