EXHIBIT 10.14
XXXXXX-XXXXX PROPERTIES, INC.
AMENDMENT TO NONQUALIFIED STOCK OPTION AGREEMENT
WHEREAS, the Company, as approved by the Committee of the Board of
Directors, has accelerated the vesting of 2,000 options (the "Options") granted
to W. XXXXX XXXXXX pursuant to a Nonqualified Stock Option Agreement under the
1994 Stock Option and Incentive Plan to be effective as of June 5, 1997 and
extended the exercise date of such Options to June 16, 2004.
NOW, THEREFORE the Nonqualified Stock Option Agreement with W. XXXXX
XXXXXX (the "Agreement") is hereby amended in the following respects effective
as of June 5, 1997:
1. The Vesting and Exercise Schedule of Section 1 is restated
such that all of the 2,000 Shares shall have vested as of
June 5, 1997.
2. The second sentence of the second paragraph in Section 2 is
restated to read as follows: "If Employee's employment with
the Company and all Subsidiaries is terminated under any other
circumstance other than for Cause, the vested portion of the
Option shall remain exercisable until June 16, 2004."
3. All other terms and conditions of the Plan and the Agreement
shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment to
the Agreement as of June 5, 1997.
XXXXXX-XXXXX PROPERTIES, INC.
By: /s/ Xxxxxxx X. Xxxxxxxx
Title: Vice President
The undersigned hereby accepts the foregoing Amendment to the
Nonqualified Stock Option Agreement and the terms and conditions hereof
/s/ W. Xxxxx Xxxxxx
W. Xxxxx Xxxxxx
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