Exhibit 10.1
AMENDMENT NO. 1 TO JANUARY 1, 2005
EMPLOYMENT AGREEMENT
AMENDMENT (this "Amendment") is by and between Alamosa Holdings, Inc.,
a Delaware corporation ("Alamosa"), and Xxxxx Xxxxxxxx (the "Employee"). This
Amendment amends the Employment Agreement by and between Alamosa and the
Employee that was made and entered into as of January 1, 2005 (the "Employment
Agreement") and shall be effective as of January 1, 2006.
1. The Employment Agreement is hereby amended by increasing the Base
Salary as set forth in Section 3 from $425,000 to $600,000.
2. The Employment Agreement is hereby amended by increasing the Annual
Bonus target as set forth in Section 4 from $340,000 to $562,500.
3. The Employment Agreement is hereby amended by deleting the option
grant described in Section 6 (a) for 2006 in the amount of 64,000 options and
by deleting the option grant described in Section 6 (a) for 2007 in the amount
of 51,200. Employee will not be eligible for these grants.
4. The Employment Agreement is hereby amended by (1) increasing the
restricted stock grant amount described in Section 6 (d) for 2006 from 40,000
to 80,000 shares and (2) changing the restricted stock grant amount described
in Section 6 (d) for 2007 such that the number of restricted shares to be
granted shall be determined by dividing the product of (A) 80,000 and the per
share fair market value (as defined in the LTIP) of the Company's common stock
on January 1, 2006, by (b) the per share fair market value (as defined in the
LTIP) of the Company's common stock on January 1, 2007.
5. Except as modified by this Amendment, the Agreement is hereby
confirmed in all respects.
IN WITNESS WHEREOF, the parties have duly executed this Amendment
effective as of January 1, 2006.
ALAMOSA HOLDINGS, INC.
By:
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Xxxxxxx Xxxxx, CFO
EMPLOYEE
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Xxxxx Xxxxxxxx
Dated this 8th day of November, 2005.
