Exhibit (10x)
STOCK SUBSCRIPTION AGREEMENT
UNDER STOCK OWNERSHIP PLAN OF
THE XXXXX GROUP, INC.
The undersigned participant in the Stock Ownership Plan (the
"Plan") adopted by the Board of Directors of The Xxxxx Group,
Inc., f/k/a Xxxxx Yarns, Inc. ("Xxxxx") on August 22, 1996,
hereby subscribes for ________ shares of Common Stock of Xxxxx,
par value of $3 per share, at a price of $________ per share
(the "Shares"), a total purchase price of $________ (the
"Purchase Price").
The undersigned participant in the Plan hereby agrees that the
Purchase Price for the Shares shall be due and payable on
____________, 2001 (the third anniversary of the undersigned
participant's Initial Subscription Offering Date), if not
sooner, in accordance with the Plan. The undersigned hereby
acknowledges receipt of a copy of the Plan and confirms that
the undersigned has read the Plan.
This subscription is subject to the terms and conditions of the
Plan, including specifically the provisions of the Plan that
provide for automatic call for payment of the Purchase Price
and the optional call for payment of the Purchase Price before
____________, 2001.
All shares of Common Stock issued pursuant to this subscription
may be restricted shares and subject to limitations and
conditions of sale, including the holding of such shares for a
minimum period of time.
Executed as of this ______ day of ____________, 1998.
_________________ _____________
Participant Witness
This subscription is accepted by The Xxxxx Group, Inc. pursuant
to the terms of the Stock Ownership Plan adopted by the Board
of Directors on August 22, 1996.
The Xxxxx Group, Inc.
By: _________________
Chairman and CEO
