Exhibit 10.7
AMENDMENT NO. 1 TO THE
HUGHES SUPPLY, INC. 1997 EXECUTIVE STOCK PLAN
---------------------------------------------
The Hughes Supply, Inc. 1997 Executive Stock Plan ("Plan") is hereby
amended, pursuant to Section 13 thereof, as follows:
1. The first sentence of Section 3 of the Plan is deleted in its
entirety and the following new first sentence of Section 3 is substituted
therefor:
There shall be 1,750,000 shares of Stock reserved for use under this
Plan.
2. The second sentence of Section 8.1 of the Plan is deleted in its
entirety and the following new second sentence of Section 8.1 is substituted
therefor:
However, no more than 875,000 shares of Stock shall be granted as
Restricted Stock from the shares otherwise available for grants under
this Plan.
3. If there shall be any inconsistency between the provisions of this
Amendment and the provisions of the Plan, this Amendment shall control. This
Amendment shall become effective upon the date this Amendment is approved by the
stockholders of the Company. Except as hereby amended, the Plan shall continue
in full force and effect.
Dated: ______________, 2000
HUGHES SUPPLY, INC.
By:________________________
Title:_____________________
ATTEST:
By:______________________
Title:___________________
[CORPORATE SEAL]
