EXHIBIT 10.7
PREMIERE GLOBAL SERVICES, INC.
FIRST AMENDMENT TO
RESTRICTED STOCK AGREEMENT
THIS FIRST AMENDMENT to the Restricted Stock Agreement (the
“First Amendment”) is made and entered into by and
between PREMIERE GLOBAL SERVICES, INC., a Georgia
corporation (the “Company”), and DAVID M.
GUTHRIE (the “Grantee”) on July 13th, 2006,
effective as of May 5, 2006.
BACKGROUND STATEMENT:
WHEREAS, the Company and the Grantee entered into that
certain Restricted Stock Agreement having a Grant Date of June 30,
2005 for 100,000 shares of common stock of the Company (the
“Original RSA”); and
WHEREAS, the Company and the Grantee desire to amend the
Original RSA as set forth herein;
NOW, THEREFORE, in consideration of and reliance upon the
foregoing and other good and valuable consideration, the adequacy
and sufficiency of which are hereby acknowledged, the Company and
the Grantee hereby amend the Original RSA as follows:
1. The third sentence to Section
2. Restrictions in the Original RSA is hereby amended and
replaced with the following: “If Grantee’s employment
with the Company or any Affiliate terminates for any reason other
than as set forth in paragraphs (b), (c) or (d) of Section 3
hereof, then Grantee shall forfeit all of Grantee’s right,
title and int
