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EXHIBIT 10.63
FIRST AMENDMENT
TO
STOCK RESTRICTION AGREEMENT
THIS FIRST AMENDMENT (the "Amendment") to the Stock Restriction
Agreement entered into by and between OMNIPOINT CORPORATION, a Delaware
corporation (the "Company"), and XXXXXX X. XXXXXXX (the "Employee"), as of
October 1, 1995 (the "Stock Restriction Agreement"), is made as of the 21st day
of June, 1999.
RECITALS
WHEREAS, pursuant to Section 2 of the Stock Restriction Agreement, the
Company has certain rights to purchase shares of common stock of the Company
from the Employee at a specified price for a period of time following the
Employee's termination of employment (the "Purchase Option"); and
WHEREAS, the Compensation Committee of the Board of Directors of the
Company has determined that it is in the best interests of the Company to modify
the provisions of the Purchase Option with respect to any termination of
employment of the Employee for a reason other than cause; and
WHEREAS, the Employee finds the proposed modifications to the Purchase
Option desirable.
NOW, THEREFORE, in consideration of the foregoing and of the mutual
covenants and agreements hereinafter contained, the Company and the Employee
hereby agree as follows:
Effective as of the date of this Amendment, the table set forth in
Section 2(a) of the Stock Restriction Agreement shall read as follows:
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PERCENTAGE OF SHARES
IF CESSATION OF EMPLOYMENT OCCURS: SUBJECT TO PURCHASE OPTION:
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On or after June 21, 1999 0%
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IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
of the day and year first above written.
OMNIPOINT CORPORATION
By:
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EMPLOYEE
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Xxxxxx X. Xxxxxxx
