Exhibit 10.10
FIRST AMENDMENT TO
STOCK OPTION AGREEMENT
This First Amendment to Stock Option Agreement (the "FIRST AMENDMENT")
is dated as of September 2, 2002, by and between Nextgen Communications
Corporation, a Delaware corporation (the "COMPANY"), and R. Xxxxxx Xxxxx (the
"OPTIONEE").
WHEREAS, the Company and the Optionee entered into that certain Stock
Option Agreement dated February 1, 2002 (the "AGREEMENT");
WHEREAS, the Optionee and the Company desire to amend the Agreement as
set forth herein, in order to modify the vesting period of certain stock options
of the Company that were granted to the Optionee in the Agreement;
NOW THEREFORE, the parties hereto agree as follows:
1. The first sentence of the "Vesting Schedule" paragraph on the first
page of the Agreement is hereby deleted and replaced in its entirety with the
following sentence:
"Vesting Schedule: This Option shall be exercisable as
follows: 50,000 of the Shares available for purchase under the
Option shall be exercisable on September 2, 2002; 50,000 of
the Shares available for purchase under the Option shall be
exercisable on February 1, 2003; and the remaining 50,000 of
the Shares available for purchase under the Option shall be
exercisable on February 1, 2004 (all share amounts shall be
adjusted accordingly for stock splits, reclassifications, and
similar events)."
2. Except as expressly amended hereby, the Agreement remains in full
force and effect. Capitalized terms that are not defined herein shall have the
same meaning assigned to them in the Agreement.
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed and delivered as of the date first above written.
This First Amendment to Stock Option Agreement may be executed in one
or more identical counterparts, including by facsimile signature, each of which
shall be deemed to be an original and all of which together shall be deemed to
be one instrument.
COMPANY:
NEXTGEN COMMUNICATIONS CORPORATION
By:
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Name: Xxxxx X. Xxxxxxxx
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Title: President and Chief Executive Officer
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OPTIONEE:
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R. Xxxxxx Xxxxx
