EXHIBIT 10.1
AGREEMENT
Agreement, dated as of April 19, 1999, between Reebok International
Ltd. ("Reebok) and Xxxx Xxxxxxx ("Fireman") amending and extending a portion of
the stock option granted by Reebok to Fireman on July 24, 1990 (the "Stock
Option Grant") and amending the Stock Option Agreement dated as of July 24, 1990
between Reebok and Fireman relating to the Stock Option Grant (the "Stock Option
Agreement").
For good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, and in consideration of the mutual covenants
contained herein, the parties hereto agree to amend and extend the Stock Option
Grant and the Stock Option Agreement in the following respects:
1. With respect to 500,000 shares of the Stock Option Grant
exercisable at $18.01 per share (the "Amended Option Shares"),
such Amended Stock Option Shares shall become, as of the date
hereof, stock option shares issued to Fireman pursuant to
Reebok's 1994 Equity Incentive Plan, as amended (the "Plan"),
and shall in all respects be subject to, and governed for all
purposes by, the terms and conditions of such Plan.
2. With respect to the Amended Option Shares, the Final Exercise
Date (as such term is referred to in the Stock Option Grant
and the Stock Option Agreement) shall be July 24, 2010.
3. That portion of the Stock Option Grant concerning the Amended
Option Shares may be transferred by Fireman through a gift to
any or all of the following: any child, stepchild, grandchild,
parent, stepparent, mother-in-law, father-in-law or spouse of
Fireman, any trust in which these persons have more than a
fifty percent (50%) beneficial interest or a foundation in
which these persons (or Fireman) control the management of
assets, and may be retransferred by any of these permitted
transferees back to Fireman.
4. In exchange for the amendment and extension set forth above,
Fireman hereby relinquishes all right and interest in the
500,000 shares of the Stock Option Grant exercisable at $18.01
which were granted under Reebok's 1985 Stock Option Plan.
IN WITNESS WHEREOF, this Agreement has been executed by the parties
hereto as of the date first above written.
REEBOK INTERNATIONAL LTD.
/s/ XXXXXXX WATCHMAKER /s/ XXXX XXXXXXX
By: Xxxxxxx Watchmaker XXXX XXXXXXX
