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EXHIBIT 10.52
AMENDMENT TO OPTION AGREEMENT
AMENDMENT made as of this 14th day of August 1995, by and between
HADCO CORPORATION, a Massachusetts corporation with a usual place of business
in Salem, New Hampshire (hereinafter the "Company") and XXXXXXX XXXXXXX, of
Acton, Massachusetts, (hereinafter the "Optionee"), to the Option Agreement
between the parties dated January 24, 1994.
WHEREAS, the parties have reached an understanding regarding a change
of employment status of the Optionee and have, contemporaneously with the
execution of this Amendment to Option Agreement, executed an Agreement
providing for certain compensation, benefits and consulting arrangements
between the Company and the Optionee; and
WHEREAS, as part of this understanding and new compensation
arrangement, the parties have agreed to amend the provisions of the Option
Agreement between the parties dated January 24, 1994 and to cancel certain of
the options previously granted under that Agreement.
NOW, THEREFORE, in consideration of the premises and other mutual
covenants contained herein, and in furtherance of the parties' Agreement to
amend the Option Agreement, it is agreed between the parties as follows:
1. Section 1 of the Option Agreement is amended to change the number
of shares subject to the option from 100,000 to 15,000. The option with
respect to the balance of 85,000 shares is hereby cancelled, being that
portion of the option which was scheduled to accrue at any time subsequent to
August 15, 1995.
2. The schedule in Section 2(a) of the Option Agreement is changed
to the following:
2
Cumulative Percent of Option
Shares That May Be Purchased Date of Vesting
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100% One year anniversary of the date of grant
The effect of this Amendment is to fully vest the right to exercise the
option and purchase the currently outstanding Option Shares (15,000 shares) at
present.
3. Except as specifically set forth herein, the original terms and
provisions of the Option Agreement dated January 24, 1994 between the parties
are hereby ratified and confirmed.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the
day and year first above written.
Witness:
/s/ Xxx Xxxxxxx By: /s/ Xxxxxxx Xxxxxxx
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OPTIONEE
Witness: HADCO CORPORATION
/s/ Xxxxx Xxxxxx By: /s/ Xxxxxx X. Xxxxx
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