Exhibit 10.7
Hexcel Corporation
Two Stamford Plaza
000 Xxxxxxx Xxxxxxxxx
Xxxxxxxx, XX 00000
August 28, 2001
Xxxxx X. Xxxxxx
x/x Xxxxxx Xxxxxxxxxxx
Xxx Xxxxxxxx Xxxxx
000 Xxxxxxx Xxxxxxxxx
Xxxxxxxx, XX 00000
Re: EMPLOYEE OPTION AGREEMENT
Reference is made to the Employee Option Agreement (the "Agreement")
dated July 30, 2001 between you and Hexcel Corporation ("Hexcel"), relating to
your option to purchase 275,000 shares of Hexcel common stock. This letter will
confirm our mutual understanding that, effective as of July 30, 2001, the first
sentence of Section 5(a) of the Agreement shall be deleted in its entirety and
replaced with the following:
"The aggregate number of Option Shares, the Purchase Price and the per share
prices contained in Section 4(b)(ii) (as may be adjusted in accordance with this
section) shall be appropriately adjusted by the Committee for any increase or
decrease in the number of issued shares of Common Stock resulting from a
subdivision or consolidation of shares or other capital adjustment, or the
payment of a stock dividend or other increase or decrease in such shares,
effected without receipt of consideration by the Corporation, or other change in
corporate or capital structure."
HEXCEL CORPORATION
By: /s/ XXX X. XXXXXXXX
----------------------------
Xxx X. Xxxxxxxx
Senior Vice President
Agreed:
/s/ XXXXX X. XXXXXX
------------------------------
Xxxxx X. Xxxxxx
