Exhibit 10.37
MAXCOM TELECOMUNICACIONES, S.A. DE C.V.
AMENDED AND RESTATED NEW EXECUTIVE STOCK OPTION PLAN
RULES OF OPERATION
Maxcom Telecomunicaciones, S.A. de C.V. is a limited liability company ( sociedad anónima de capital
variable ) with indefinite life, organized under the laws of Mexico on February 28, 1996. We were originally
organized under the name “Amaritel, S.A. de C.V.” We changed our legal name to “Maxcom
Telecomunicaciones, S.A. de C.V.” on February 9, 1999.
In July 2006, pursuant to the capital increase and acquisition of Grupo Telereunión, Maxcom decided to amend
its different stock option plans to give better benefits to the holders of the options in such plans.
Consequently, this Plan reflects the modifications made by Maxcom regarding the requisite service period, as the
strike price and vesting period.
OBJECTIVES OF THE PLAN
DEFINITIONS
As used herein, the following definitions shall apply:
“ Administrator ” means the Board of Directors of Maxcom as shall be administering the Plan.
“ Applicable Laws ” means the requirements relating to the administration of stock option plans under Mexican
Laws, any stock exchange or quotation system on which
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the Common Stock is listed or quoted and the applicable laws of any foreign country or jurisdiction where
Options are, or will be, granted under the Plan.
“ Beneficiary ” means the holder of an outstanding Option granted under the Plan, including the Chairman of the
Board.
“ Board ” means the Board of Directors of the Company.
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To attract highly skilled and motivated Officers;
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To retain truly capable and skilled people;
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Provide additional incentive to Officers;
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To align the interests of the Officers with those of the stockholders;
Exhibit 10.37
MAXCOM TELECOMUNICACIONES, S.A. DE C.V.
AMENDED AND RESTATED NEW EXECUTIVE STOCK OPTION PLAN
RULES OF OPERATION
Maxcom Telecomunicaciones, S.A. de C.V. is a limited liability company ( sociedad anóni