EXHIBIT 10.73
STOCK OPTION AGREEMENT AMENDMENT
Amendment Number 1
This Amendment Number 1 to the Stock Option Agreement entered into
between Hanover Direct, Inc., a Delaware corporation (the "Company"), and Xxxxxx
X. Xxxxx ("Xxxxx"), which evidenced the grant to Xxxxx by the Company of an
option to purchase 2,700,000 shares of the Company's common stock as of December
5, 2000 (the "Option Agreement"), shall be effective as of September 1, 2002.
W I T N E S S E T H :
WHEREAS, the Company and Xxxxx entered into the Stock Option Agreement;
and
WHEREAS, the Company and Xxxxx now desire to amend the Option Agreement
in certain respects.
NOW, THEREFORE, it is agreed by and between the parties hereto to the
following amendments to the Option Agreement:
1. The proviso at the end of Paragraph 3 of the Option Agreement
is hereby amended to read in its entirety as follows::
"provided, further, that, notwithstanding anything to the
contrary contained herein, this Option shall expire as
to 100% of the number of Shares subject hereto on
June 30, 2005."
2. All references in the Option Agreement and in this Amendment
Number 1 to the "Services Agreement" shall refer to the Employment Agreement
between the Company and Xxxxx, entered into as of September 1, 2002.
3. Except as hereunder provided, the Option Agreement shall
remain in full force and effect without further modification.
IN WITNESS WHEREOF, the Company and Xxxxx have executed this Amendment
Number 1 as of September 1, 2002.
HANOVER DIRECT, INC.
By: /s/ Xxxxxxx X. Xxxxxxx
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Name: Xxxxxxx X. Xxxxxxx
Title: EVP - C.O.O.
/s/ Xxxxxx X. Xxxxx
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XXXXXX X. XXXXX
