Document:

exv10w1

 

Exhibit 10.1

April 27, 2007

Mr. Raul Burgos

1353 Garden Hills Place

PMB#394 Carreterra #19

Guaynabo, PR 00966

     Re.:   Amendment No. 1 To Employment Agreement

Dear Mr. Burgos:

     You previously entered into an employment agreement with SunCom Wireless Management Company,
Inc. (the “Company”), dated as of
September 6, 2006 (the “Employment Agreement”). Except as
otherwise defined herein, all capitalized terms used herein shall have the meanings set forth in
the Employment Agreement.

     The Employment Agreement’s current term is scheduled to expire on December 31, 2009 (the
“Initial Term”) but will automatically extend for a one year renewal term in the absence of either
party providing a notice of non-renewal at least sixty (60) days prior to the expiration of the
Initial Term or any renewal term of the Employment Agreement.

     As you may know, the Company has eliminated transfer restrictions on shares of SunCom Wireless
Holdings, Inc. Class A Common Stock (the “Shares”) for certain executives and directors that are
similar to the transfer restrictions contained in your Employment Agreement. As a result, the
Company in this letter agreement (this “Agreement”) hereby agrees to modify the terms of your
Employment Agreement as set forth below:

     1. Transfer Restrictions. The transfer restrictions on the Shares contained in
Section 3(c)(iii) of the Employment Agreement shall be struck in their entirety.

     2. All Other Provisions Remain Effective. Except as otherwise expressly modified
under this Agreement, all other terms and conditions of the Employment Agreement shall continue in
full force and effect and are hereby ratified and confirmed. In the event of any inconsistency
between the provisions of the Employment Agreement and the provisions of this Agreement, the
provisions of this Agreement shall control.

     Please evidence your acceptance of the foregoing modifications to the Employment Agreement by
executing this Agreement where provided below and by returning it to me, whereupon this Agreement
shall constitute the legally valid and binding obligation of the parties hereto, enforceable
against such parties in accordance

 

 

with its terms, and future references to your Employment Agreement shall mean the Employment
Agreement as amended by this Agreement.

	 	 	 	 	 
	 	SunCom Wireless Management Company, Inc.

 	 
	 	By:  	/s/ Laura Porter
 	 
	 	 	Laura Porter 	 
	 	 	Senior Vice President of Human Resources 	 
	 
	 	Executive

 	 
	 	By:  	/s/ Raul Burgos
 	 
	 	 	Raul Burgosexv10w1

 

Exhibit 10.1

E. I. DU PONT DE NEMOURS AND COMPANY

STOCK ACCUMULATION AND DEFERRED

COMPENSATION PLAN FOR DIRECTORS

(As last amended, January 1, 2007)

	1.	 	PURPOSE OF THE PLAN
	 
	 	 	The purpose of the DuPont Stock Accumulation and Deferred Compensation Plan for Directors (the
“Plan”) is (1) to further the identity of interests of members of the Board of Directors of E.
I. du Pont de Nemours and Company (the “Company”) with those of the Company’s stockholders
generally through the grant of time-vested restricted DuPont common stock units payable in cash,
and (2) to permit Directors to defer the payment of all or a specified part of their
compensation for services performed as Directors.
	 
	2.	 	ELIGIBILITY
	 
	 	 	Members of the Board of Directors of the Company who are not employees of the Company or any of
its subsidiaries or affiliates and who do not receive a form of compensation for Board service
in lieu of customary Directors’ fees shall be eligible to receive time-vested restricted stock
units under the Plan. Members of the Board of Directors of the Company who are not employees of
the Company or any of its subsidiaries or affiliates shall be eligible under this Plan to defer
compensation for services performed as Directors.
	 
	3.	 	ADMINISTRATIONS AND AMENDMENT
	 
	 	 	The Plan shall be administered by the Compensation Committee of the Board of Directors (the
“Committee”). The decision of the Committee with respect to any questions arising as to the
interpretation of this Plan, including the severability of any and all of the provisions
thereof, shall be final, conclusive and binding. The Board of Directors of the Company reserves
the right to modify the Plan from time to time, or to repeal the Plan entirely, provided,
however, that (1) no modification of the Plan shall operate to annul an election already in
effect for the current calendar year or any preceding calendar year; and (2) to the extent
required under Section 16 of the Securities Exchange Act of 1934 (“Exchange Act”), Plan
provisions relating to the amount, price and timing of time-vested restricted stock unit grants
shall not be amended more than once every six months, except that the foregoing shall not
preclude any amendment necessary or desirable to conform to changes in applicable law,
including, but not limited to, changes in the Internal Revenue Code.
	 
	 	 	The Committee is authorized, subject to the provisions of the Plan, from time to time to
establish such rules and regulations as it deems appropriate for the proper administration of
the Plan, and to make such determinations and take such steps in connection therewith as it
deems necessary or advisable.
	 
	4.	 	COMPLIANCE WITH SECTION 16 OF THE EXCHANGE ACT / CHANGE IN LAW
	 
	 	 	It is the Company’s intent that the Plan comply in all respects with Rule 16b-3 of the Exchange
Act, or its successor, and any regulations promulgated thereunder. If any provision of this Plan
is found not to be in compliance with such rule and regulations, the provision shall be deemed
null and void, and the remaining provisions of the Plan shall continue in full force and effect.
All transactions under this Plan shall be executed in accordance with the requirements of
Section 16 of the Exchange Act and the regulations promulgated thereunder.

 

 

	 	 	The Board of Directors may, in its sole discretion, modify the terms and conditions of this Plan
in response to and consistent with any changes in applicable law, rule or regulation.
	 
	5.	 	TIME-VESTED RESTRICTED STOCK UNIT GRANTS

	 	a.	 	Annual Grant: Subject to action by the Board of Directors, and effective upon such date
as the Board of Directors may determine, each Director eligible under Article 2 hereof
shall be awarded an annual grant of time-vested restricted stock units of the Company
payable in cash, with each such grant having a fair market value on date of grant of
$115,000. A director elected to the Board at a time after an annual time-vested restricted
stock unit grant is made shall, without further action by the Board of Directors, receive a
grant of time-vested restricted stock units of the Company payable in cash, with any such
grant having a fair market value on the date of grant of $115,000, following his/her first
attendance at a Board Meeting. Any such grant shall be subject to the terms and conditions
applicable to the annual grant, and shall be effective on the first business day of the
month following the month in which the Director attends his/her first Board Meeting. Under
no circumstances shall a Director receive more than one time-vested restricted stock unit
grant in any calendar year under this Plan.
	 
	 	b.	 	Restriction Period: For a period as the Board of Directors shall determine, from the
effective date of the grant (“restriction period”) grantee may not sell, gift, or otherwise
transfer or dispose of any of the units except as described below.
	 
	 	c.	 	Dividend Equivalents: From time to time, the Board of Directors may attach a dividend
equivalent right to the time-vested restricted stock units. Dividend equivalents are an
amount equal to any cash dividends (or the fair market value of dividends paid in property
other than dividends payable in DuPont common stock) payable on the total number of shares
represented by the total number of outstanding units in grantee’s account will be allocated
to grantee’s account in the form of units based upon the stock price on the dividend
payment date. Any dividend units payable on such number of shares will be allocated in the
form of whole and fractional units. The stock price shall be the closing price of DuPont
common stock as reported on the Composite Tape of the New York Stock Exchange.
	 
	 	d.	 	Tax Withholding: Grantees may use shares of stock to satisfy withholding taxes relating
to the grants under this Plan to the extent provided in terms and conditions established by
the Committee.
	 
	 	e.	 	Termination of Time-Vested Restricted Stock Units: (i) The Board of Directors shall,
subject to the provisions of the Plan, determine the rules relating to the rights of a
grantee in the event a grantee ceases to be a Director of the Company or in the event of
his or her death or disability.
	 
	 	 	 	(ii) A grantee shall forfeit all rights under time-vested restricted stock unit awards
granted hereunder if the Board of Directors, after a hearing at which the grantee shall be
entitled to be present, shall find that the grantee has willfully engaged in any activity
harmful to the interest of the Company or any of its subsidiaries or affiliates provided,
however, that such time-vested restricted stock units may continue in effect to such extent
and under such circumstances as the Board of Directors may determine.
	 
	 	f.	 	Adjustment: (i) In the event of any stock dividend, split-up, reclassification or other
analogous change in capitalization, the Committee shall make such adjustments, in light of
the change, as it deems to be equitable, both to the grantee and to the Company, in the
number of time-vested restricted stock units. Furthermore, in the event of a distribution
to common stockholders other than interim or year-end dividends declared as such by the
Board of Directors, the Committee shall make such adjustments, in light of the
distribution, as it deems to be equitable, both to the grantee and to the Company, in
respect to the item described herein.

 

 

	 	 	 	(ii) any fractional share units resulting from adjustments made pursuant to this
subparagraph shall be eliminated.

	6.	 	ELECTION TO DEFER AND FORM OF PAYMENT
	 
	 	 	On or before December 31 of any year, a Director may elect to defer, until a specified year or
retirement as a Director of the Company, the payment of all or a specified part of all fees
payable to the Director for services as a Director during the calendar year following the
election in the form of cash or stock units. In addition, as part of such election, a Director
shall elect the form of payment (lump sum or annual installments). Any person who shall become
a Director during any calendar year, and who was not a Director of the Company on the preceding
December 31, may elect, within thirty days after election to the Board, to defer in the same
manner the receipt of the payment of all or a specified part of fees not yet earned for the
remainder of that calendar year in the form of cash or stock units. Elections shall be made by
written notice delivered to the Secretary of the Committee. All such elections as to deferral
and form of payment are irrevocable.
	 
	7.	 	DIRECTORS’ ACCOUNTS
	 
	 	 	Fees deferred in the form of cash shall be held in the general funds of the Company and shall be
credited to an account in the name of the Director. On the first day of each quarter, interest
shall be credited to each account calculated on the basis of the cash balance in each account on
the first day of each month of the preceding quarter at the Prime Rate of Morgan Guaranty Trust
Company of New York (or at such other rate as may be specified by the Committee from time to
time) in effect on the first day of each month. Fees deferred in the form of stock units shall
be allocated to each Director’s account based on the closing price of the Company’s common stock
as reported on the Composite Tape of the New York Stock Exchange (“Stock Price”) on the date the
fees would otherwise have been paid. The Company shall not be required to reserve or otherwise
set aside shares of common stock for the payment of its obligations hereunder, but shall make
available as and when required a sufficient number of shares of common stock to meet the needs
of the Plan. An amount equal to any cash dividends (or the fair market value of dividends paid
in property other than dividends payable in common stock of the Company) payable on the number
of shares represented by the number of stock units in each Director’s account will be allocated
to each Director’s account in the form of stock units based upon the Stock Price on the dividend
payment date. Any stock dividends payable on such number of shares will be allocated in the form
of stock units. If adjustments are made to outstanding shares of common stock as a result of
split-ups, recapitalizations, mergers, consolidations and the like, an appropriate adjustment
shall also be made in the number of stock units in a Director’s account. Stock units shall not
entitle any person to rights of a stockholder unless and until shares of Company common stock
have been issued to that person with respect to stock units as provided in Article 8.
	 
	8.	 	PAYMENT FROM DIRECTORS’ ACCOUNTS
	 
	 	 	The aggregate amount of deferred fees, together with interest and dividend equivalents accrued
thereon, shall be paid in accordance with the deferral and form of payment election made by the
Director under paragraph 6. Amounts deferred to a specified year shall only be paid in a lump
sum and shall be paid promptly at the beginning of that specified year. Amounts deferred to
retirement payable in a lump sum shall be paid, promptly at the beginning of the calendar year
following a Director’s retirement. Installment payments with respect to amounts deferred to
retirement shall be paid promptly at the beginning of the calendar year after a Director’s
retirement and promptly after the beginning of each succeeding calendar year until the entire
amount credited to the Director’s account shall have been paid. With respect to directors fees,
amounts credited to a Director’s account in cash shall be paid in cash and amounts credited in
stock units shall be paid in one share of common stock of the Company for each stock unit,
except that a cash payment will be made with any final installment for any fraction of a stock
unit remaining in the Director’s account. Such fractional share shall be valued at the closing
Stock Price on the date of settlement. Restricted Stock Units that have been deferred shall be
paid in cash, each unit to equal the value of one share of DuPont common

 

 

	 	 	stock based on the average of the high and low prices of DuPont common stock as reported on the
Composite Tape of the New York Stock Exchange as of the effective date of payment.
	 
	9.	 	PAYMENT IN EVENT OF DEATH
	 
	 	 	A Director may file with the Secretary of the Committee a written designation of a beneficiary
for his or her account under the Plan on such form as may be prescribed by the Committee, and
may, from time to time, amend or revoke such designation. If a Director should die before all
deferred amounts credited to the Director’s account have been distributed, the balance of any
deferred fees and interest and dividend equivalents then in the Director’s account shall be paid
promptly to the Director’s designated beneficiary. If the Director did not designate a
beneficiary, or in the event that the beneficiary designated by the Director shall have
predeceased the Director, the balance in the Director’s account shall be paid promptly to the
Director’s estate.
	 
	10.	 	NONASSIGNABILITY
	 
	 	 	During a Director’s lifetime, the right to any time-vested restricted stock units, or the right
to any deferred fees, including interest and dividend equivalents thereon, shall not be
transferable or assignable, except as may otherwise be provided in rules established by the
Committee.
	 
	11.	 	GOVERNING LAW
	 
	 	 	The validity and construction of the Plan shall be governed by the laws of the State of
Delaware.
	 
	12.	 	EFFECTIVE DATE
	 
	 	 	This Plan shall become effective as of January 1, 1996, provided it is approved by stockholders
at the Company’s 1996 Annual Meeting, and shall continue in full force and effect until
terminated by the Board of Directors.

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