Document:

NIHD-12.31.2014-10K-Ex 10.23

Exhibit 10.23

AMENDMENT #1 OF THE EMPLOYMENT AGREEMENT ENTERED INTO BY AND BETWEEN COMUNICACIONES NEXTEL DE MÉXICO, S.A. DE C.V.  (THE “COMPANY”) AS EMPLOYER, HEREIN REPRESENTED BY ANTONIO GARZA CÁNOVAS, AND SALVADOR ÁLVAREZ VALDÉS (THE “EMPLOYEE”), ON HIS OWN RIGHT, PURSUANT TO THE FOLLOWING.

R E P R E S E N T A T I O N S

I. The Company represents that it is a business corporation duly incorporated according to the laws of Mexico, mainly engaged in rendering mobile telecommunication services to the public; that its main place of business is located at Paseo de los Tamarindos #90, Floor 24, Col. Bosques de las Lomas, Del. Cuajimalpa, C.P. 05120, Tax Id CNM980114 PI2 and Social Security Number Y54-35206-10-6.

II. The Employee represents that he is a Mexican national, of 49 years of age, married, and that his address is located at Calle de Montaña No. 161, House 4, Col. Jardines del Pedregal, Mexico, DF, with CURP AAVS651120HNELL08, Tax Id AAVS651120CK4 and Social Security Number 01926504984.

III. The Company and the Employee declare that on July 3, 2014, they entered into an Individual Employment Agreement (the “Agreement”) pursuant to which the Company hired the Employee to serve as “President”; a position that the Employee has held since July 14, 2014, as set forth in Clause 22 of the Agreement.

BY VIRTUE OF THE FOREGOING, the parties enter into this amendment of the Agreement and agree to the following:

C LA U S E S

Clause 1.    Purpose of This Amendment.

1.1    The purpose of this Amendment is to eliminate Clause 6.2 of the Agreement and amend Clause 6.4 of the Agreement to read as follows:

“6.4    Currency of Payment.  It is agreed and understood between the parties hereto that all payments to be made by the Company to the Employee, including without limitation, the payment of the gross base monthly salary  set forth in Clause 6.1 of this Agreement, will be made in Mexican Pesos and calculated as follows: 

(i) the gross base monthly salary of USD$51,923.00, will be paid at the agreed exchange rate of $13 pesos per US$1 dollar pursuant to Clause 6.1 of this Agreement;

(ii) in the event that eight days before the day of payment, the exchange rate published in the Official Gazette is greater than $13 pesos per each US$1 dollar, the Company will calculate the exchange rate difference and pay the Employee on the corresponding payment date an exchange rate bonus (“Exchange Rate Bonus”) equivalent to such difference, which will be additional to the $675,000.00 (SIX HUNDRED AND SEVENTY FIVE THOUSAND PESOS 00/100) obtained from converting the gross base monthly salary of  USD$51,923.00 at the agreed exchange rate of $13 pesos per US$1 dollar; 

(iii) the Company will pay the above-mentioned Exchange Rate Bonus after all applicable withholdings, taxes and reductions are made;

(iv) the bonus payments set forth in Clause 14 of this Agreement, and any other payment for severance or termination, as well as any payment made by the Company to the Employee based on the gross base monthly salary of US$51,923.08, will be paid in Mexican pesos applying the exchange rate in effect eight days before the date of payment, whenever such exchange rate is greater than $13 pesos per each $1 dollar.”

Clause 2. The Company and the Employee expressly agree that, except for the amendments pursuant to Clause 1 above, the remaining clauses of the Agreement and its Annexes remain valid and in full force in the same terms they were agreed upon. 

Clause 3. The Company and the Employee expressly agree that in the event of a discrepancy between this Amendment and the Agreement and its Annexes, this Amendment shall prevail. 

Clause 4.    Governing Law and Arbitration.
Both parties agree that, except as provided for herein, the provisions of the Mexican Labor Law shall apply, and as to any dispute arising in connection with the interpretation or enforcement of, and/or compliance with, this Agreement, the parties expressly submit to the jurisdiction and competence of the corresponding Conciliation and Arbitration Board.

IN WITNESS WHEREOF, the parties having read and being well aware of its contents and legal force, executed this Amendment in Mexico City, on the 23rd of February, 2015, date as of which this Amendment enters into force.

THE COMPANY
LA EMPRESA

/s/ ANTONIO GARZA CÁNOVAS
ANTONIO GARZA CÁNOVAS

THE EMPLOYEE
EL EMPLEADO

/s/ SALVADOR ÁLVAREZ VALDÉS
SALVADOR ÁLVAREZ VALDÉSBPI 2014 10-K - EX-10.16

Exhibit 10.16

BRIDGEPOINT EDUCATION, INC.
AMENDMENT TO PERFORMANCE STOCK UNIT AGREEMENT
This Amendment to the Performance Stock Unit Agreement (the “Amendment”) of Andrew S. Clark (“Participant”) is entered into by and between Participant and Bridgepoint Education, Inc. (the “Company”).
WHEREAS, Participant was granted an award of Performance Stock Units (“PSUs”) under the Company’s 2009 Stock Incentive Plan, as amended and restated (the “Plan”) on December 18, 2014 that was memorialized pursuant to a Performance Stock Unit Agreement between Participant and the Company (the “Award Agreement”); 
WHEREAS, Participant and the Company have executed an amended and restated Employment Agreement of even date herewith (the “Employment Agreement”); and
WHEREAS, the Company and Participant desire to amend the Award Agreement to address the vesting of the PSUs upon and following a Change of Control (as defined in the Employment Agreement).
NOW, THEREFORE, Participant and the Company agree that the Award Agreement will be, and hereby is, amended as follows:
1.Vesting in Connection with a Change of Control.  If Participant is still in the service of the Company upon the consummation of a Change of Control, PSUs will be treated as follows:
(a)    With respect to the portion of the PSUs that are to vest upon the achievement of Stock Price Performance Goals (as defined in the Award Agreement) and that remain eligible to vest as of the Change of Control, the date of the Change of Control and the price per share to be paid to holders of Company common stock in connection with the Change of Control will be the basis for determining whether and to what extent the Stock Price Performance Goal has been achieved with respect to the calendar year in which the Change of Control occurs, as well as any future calendar year Stock Price Performance Goals.  Further, the “Vesting Date” for any PSUs for which the Stock Price Performance Goals are achieved in accordance with this subsection (a) will be the date Change of Control with settlement of the PSUs to occur on or as soon as practicable following the Change of Control, but in no event later than ten (10) business days following the date of the Change of Control.  To the extent the Stock Price Performance Goals are not achieved as of the date of the Change of Control, the corresponding PSUs will terminate and be cancelled for no consideration, and Participant will have no further rights with respect thereto.  For avoidance of doubt, if the Stock Price Performance Goals have not been achieved for any calendar year prior to the calendar year during which the Change of Control occurs, the PSUs will not become eligible to vest upon or as a result of the Change of Control and will terminate and be cancelled (to the extent not previously terminated and cancelled) for no consideration and Participant will have no further rights with respect thereto.
(b)    With respect to the portion of the PSUs that are to vest upon the achievement of EPS Performance Goals (as defined in the Award Agreement), to the extent the 

Exhibit 10.16

Stock Price Performance Goal in subsection (a) for an applicable calendar year is achieved, then the PSUs that were to vest with respect to EPS Performance Goals for those corresponding calendar years will convert into a Time-Based Equity Award (as defined in the Employment Agreement) and will vest at the end of the calendar years to which the EPS Performance Goal relates, subject to Participant’s continued Service (as defined in the Plan) through such date, and will be eligible for vesting acceleration as set forth in Sections 7(b) and 7(d) of the Employment Agreement.  If the Stock Price Performance Goals with respect to an applicable calendar year are not achieved under subsection (a), the PSUs that were to vest with respect to EPS Performance Goals for that corresponding calendar year will terminate and be cancelled for no consideration, and Participant will have no further rights with respect thereto. 
2.    Full Force and Effect.  To the extent not expressly amended hereby, the Award Agreement will remain in full force and effect.  
3.    Counterparts.  This Amendment may be executed in counterparts, all of which together will constitute one instrument, and each of which may be executed by less than all of the parties to this Amendment.
4.    Governing Law.  This Amendment will be governed by the laws of the State of California (with the exception of its conflict of laws provisions).
5.    Entire Agreement.  This Amendment, together with the Award Agreement (to the extent not amended hereby), the Plan, and the Employment Agreement represent the entire agreement of the parties and will supersede any and all previous contracts, arrangements or understandings between the parties with respect to the PSUs. 

IN WITNESS WHEREOF, the undersigned parties have caused this Amendment to be executed as of the date first set forth below. 
	
		
	PARTICIPANT
	BRIDGEPOINT EDUCATION, INC.

	 
	 

	/s/ Andrew S. Clark                                            
	/s/ Diane L. Thompson                                               

	Signature    
	Signature

	 
	 

	Andrew S. Clark                                                
	Diane L. Thompson                                                    

	Print Name
	Print Name

	 
	 

	March 9, 2015                                                    
	SVP, Secretary and General Counsel                         

	Date
	Print Title

	 
	 

	 
	March 9, 2015                                                            

	 
	Date

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