TARSAP AMENDMENT XX. 0
XXXXXX XXXXXXXXX XX. 0, dated as of July 6, 2005 (the "Second Amendment"),
between Xxxxxxxx X. Xxxxxxx, an individual residing in the state of California
("Optionee"), and SPATIALIGHT, INC., a New York corporation, whose principal
place of business is located at 0 Xxxxxxxx Xxxxxxx, Xxxxx 000, Xxxxxx,
Xxxxxxxxxx 00000 (the "Corporation").
W I T N E S S E T H:
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WHEREAS, Employee and the Corporation entered into that certain Time
Accelerated Restricted Stock Option Award Plan, dated as of July 7, 2003 (the
"TARSAP");
WHEREAS, Employee and the Corporation amended and restated the TARSAP by
entering into that certain Amended and Restated TARSAP made as of April 1, 2004
(the "Amended TARSAP"); and
WHEREAS, Employee and the Corporation desire to amend the Amended TARSAP
as set forth herein.
NOW, THEREFORE, in consideration of the premises and of the mutual
covenants and conditions hereinafter set forth and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto, intending to be legally bound, hereby agree to amend the Amended
TARSAP as follows:
1. The words "second (2nd) anniversary" appearing in three places in
Section 3(b) of the Amended TARSAP are hereby amended and restated in each
such place as "fourth (4th) anniversary".
2. The words "Five Dollars ($5.00)" appearing in Section 6(b) of the
Amended TARSAP are hereby amended and restated as "Seven Dollars and Fifty
Cents ($7.50)".
3. All other provisions of the Amended TARSAP that are not amended and/or
restated by this Second Amendment shall remain in full force and effect.
* * * * *
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IN WITNESS WHEREOF, the parties have duly executed this Second Amendment
as of the date first above written.
SPATIALIGHT, INC.
By: /s/ XXXXXX X. XXXXX
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Name: Xxxxxx X. Xxxxx
Title: Chief Executive Officer
/s/ XXXXXXXX X. XXXXXXX
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Xxxxxxxx X. Xxxxxxx
Optionee
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