PIPER JAFFRAY COMPANIES AMENDMENT TO RESTRICTED STOCK AGREEMENT
Exhibit 10.27
XXXXX XXXXXXX COMPANIES
AMENDMENT TO
Name of Recipient: Brien O’Brien | ||
Total No. of Shares Covered: 361,633 |
Date of Original Issuance: March 1, 2010 |
This amendment (this “Amendment”) is entered into as of November 15, 2011 between Xxxxx Xxxxxxx Companies, a Delaware corporation (the “Company”), and the above-named recipient (the “Recipient”).
WHEREAS, the Company and the Recipient are parties to a Restricted Stock Agreement dated as of March 1, 2010 (the “Original Agreement”);
NOW, THEREFORE, the Company and the Recipient hereby agree as follows:
1. Election to Modify Vesting Schedule.
(a) On or before November 15, 2011, the Recipient may elect, by delivery of written notice of such election to the Compensation Department of the Company at 000 Xxxxxxxx Xxxx, Xxxxxxxxxxx, XX 00000, to substitute the Amended Vesting Schedule for the Vesting Schedule set forth in the Original Agreement with respect to the Recipient’s unvested Restricted Shares.
(b) The “Amended Vesting Schedule” means:
No. of Shares Which | ||
Vesting Dates |
Become Vested as of Such Date | |
December 1, 2011 |
87,594 | |
December 1, 2012 |
87,593 | |
October 1, 2014 |
87,593 |
(c) The Amended Vesting Schedule is subject to acceleration pursuant to Section 2(a) of the Original Agreement.
(d) If the Recipient makes a timely and proper election in accordance with Section 1(a) of this Amendment, then the Amended Vesting Schedule shall thereafter be deemed to be the Vesting Schedule for all purposes under the Original Agreement.
(e) If the Recipient does not make a timely and proper election in accordance with Section 1(a) of this Amendment, then the Vesting Schedule set forth in the Original Agreement shall remain unchanged.
2. Continuing Effect. Except as modified by this Amendment, the Original Agreement remains in full force and effect, without change.
[Signature page follows]
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RECIPIENT | ||
/s/ Brien O’Brien | ||
Brien O’Xxxxx | ||
XXXXX JAFFRAY COMPANIES | ||
| ||
By Xxxxxx X. Xxxx | ||
Its Chairman & CEO | ||
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