QKL STORES INC. AMENDMENT NO. 1 TO EMPLOYEE STOCK OPTION AGREEMENT
AMENDMENT
NO. 1 TO
2009
OMNIBUS SECURITIES AND INCENTIVE PLAN
THIS
AGREEMENT made as of January 30, 2010, by and between QKL Stores, Inc., a
Delaware corporation (the “Company”), and Xxxx
Xxxxx (the “Optionee”).
WHEREAS, on September 14, 2009 the
Company and the Optionee entered into an Employee Stock Option Agreement (the
“Option Agreement”); and
WHEREAS, the Company and Optionee
desire to amend the Option Agreement to correct the exercise price in the Option
Agreement to be the closing price of the Company’s common stock on September 14,
2009.
NOW THEREFORE, the parties do hereby
agree as follows.
1. The
parties hereto agree to amend Section 2 of the Option Agreement, with
retroactive effect to September 14, 2009 as follows:
“2. Grant of
Option
The
Committee hereby grants to the Optionee an option to purchase 20,000 shares of
the Company’s Common Stock (“Shares”) for an Option price per Share equal to
$7.50 (not less than the fair market value of a Share on the date of the grant
of the Option (the “Option”).”
2. Except
as specifically amended hereby, the Option Agreement shall continue in full
force and effect and the parties hereby reaffirm the same.
[SIGNATURE
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OPTIONEE
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/s/ Xxxx Xxxxx
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By:
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/s/ Xxxxxxxx Xxxx
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Name: Xxxx
Xxxxx
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Its:
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Chief
Executive Officer
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