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Exhibit 10.15
 
SECOND AMENDMENT TO EMPLOYMENT AGREEMENT
 
This Second Amendment to Employment Agreement (this “Amendment”) is entered into
as of September 14, 2009 by and between Grande Communications Networks LLC, a
Delaware limited liability company and successor-in-interest to Grande
Communications Networks, Inc. (the “Company”), and W.K.L. “Scott” Ferguson, Jr.
(the “Executive”).
 
WHEREAS, Grande Communications Networks, Inc. and the Executive entered into an
Employment Agreement as of June 28, 2006, as amended by the Amendment to
Employment Agreement dated as of February 5, 2008 (the “Agreement”); and
 
WHEREAS, the Company and the Executive wish to amend the Agreement in connection
with the consummation of the transactions contemplated by the certain
Recapitalization Agreement dated as of August 27, 2009 by and among ABRY
Partners VI, L.P., Grande Communications Networks, Inc., Grande Communications
Holdings, Inc., ABRY Partners, LLC, Grande Investment L.P., and Grande Parent
LLC. (the “Closing”).
 
NOW, THEREFORE, the parties agree as follows:
 
1.
Effective upon the Closing, the Agreement is amended by deleting Section 9(b)(5)
of the Agreement in its entirety, and replacing it with the following:

 
“(5)           In the event the Executive’s employment is terminated by the
Company without Cause or by the Executive pursuant to a Good Reason Termination,
the obligations of the Company to the Executive hereunder shall be canceled and
the Company shall pay to Executive the amount of the Base Pay accrued but unpaid
to the effective date of termination of employment (the “Termination Date”) plus
Severance Pay for the Severance Period.  “Severance Pay” means an amount equal
to the Executive’s then current bi-weekly Base Salary (less applicable
deductions and withholdings) multiplied by twenty-six (26).  The “Severance
Period” shall be the fifty-two (52) week period commencing on the day after the
Termination Date.  The Severance Pay shall be payable on a bi-weekly basis with
each payment equal to the Executive’s current bi-weekly Base Salary (less
applicable deductions and withholdings) on the Termination Date.  The payments
of Severance Pay shall commence on the Company’s first regular payroll payment
date in the Severance Period.  The Company will also continue the Executive’s
then current insurance and health care coverage provided for in Section 5 until
the termination of the Severance Period (“Benefit
Continuation”).  Notwithstanding anything in this Agreement to the contrary, the
payment of Severance Pay and Benefit Continuation shall be conditioned upon the
execution by the Executive and delivery to the Company of a release of claims in
a form satisfactory to the Chief Executive Officer and the Executive not
revoking such release within seven (7) days after such delivery.”

 
 

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IN WITNESS WHEREOF, the Company and the Executive have executed this Amendment
to be effective as of the Closing.

 
COMPANY:
       
GRANDE COMMUNICATIONS NETWORKS LLC
       
By:
/s/ Michael L. Wilfley
   
Michael L. Wilfley
   
Chief Financial Officer
       
EXECUTIVE:
       
/s/ W.K.L. ("Scott") Ferguson, Jr.
 
W.K.L. (“SCOTT”) FERGUSON, JR.

 
Signature Page to Second Amendment to Ferguson Employment Agreement
 
 

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