AMENDMENT NO





Exhibit (10)(k)(5)


AMENDMENT NO. 5


TO


ALLTEL CORPORATION PENSION PLAN


(January 1, 2001 Restatement)


 


WHEREAS,
ALLTEL Corporation (the “Company”) maintains the ALLTEL Corporation Pension
Plan, as amended and restated effective as of January 1, 2001, and as subsequently
amended, (the “Plan”); and


 


WHEREAS,
the Company desires further to amend the Plan;


 


NOW
THEREFORE, BE IT RESOLVED, that the Company hereby amends the Plan, effective
as set forth herein, in the respects hereinafter set forth:


 


Effective October 4, 2003, a new Section 2.3 is added to the
end of Article II of Appendix OO to Section 13.38 of the Plan to provide as
follows:


 


2.3           Cessation of New, Rehire, and Change
in Employment Status Participation  Notwithstanding any other provision of the
Plan, the following shall apply:


 


(a)  An individual who on October 4, 2003 has
never been an employee covered under this Appendix OO shall not become an
Employee or a participant under this Appendix OO and shall not accrue any
benefit under this Appendix OO, unless the individual after October 4, 2003 is
an employee covered by a collective bargaining agreement with IBEW Local 463
and becomes an Employee and a participant under this Appendix OO as an employee
covered by a collective bargaining agreement with IBEW Local 463 providing for
coverage under this Appendix OO.


 


(b)  An individual who on October 4, 2003 has
been an employee covered under this Appendix OO and has never been an employee
covered by a collective bargaining agreement providing coverage under this
Appendix OO shall not become an Employee covered by a collective bargaining
agreement providing for coverage under this Appendix OO (and subsection (v) of
paragraph (b) of Section 8.2 of this Appendix OO shall not apply to the
individual), unless the individual after October 4, 2003 is an employee covered
by a collective bargaining agreement with IBEW Local 463 and becomes an
Employee under this Appendix OO as an employee covered by a collective
bargaining agreement with IBEW Local 463 providing for coverage under this
Appendix OO (and subsection (v) of paragraph (b) of Section 8.2 of this
Appendix OO shall apply to the individual).


 


(c)  An individual who on October 4, 2003 has
been an employee covered by a collective bargaining agreement providing coverage
under this Appendix OO, and who on October 4, 2003 is not employed by a Control
Group Affiliate shall not be after October 4, 2003 an Employee covered by a
collective bargaining agreement providing for coverage under this Appendix OO
and shall not after October 4, 2003 accrue any benefit under this Appendix OO
except to the extent, if any, as provided in Article VIII of this Appendix OO,
unless the individual after October 4, 2003 is an employee covered by a
collective bargaining agreement with IBEW Local 463 and becomes an Employee
under this Appendix OO as an


 

















 


employee
covered by a collective bargaining agreement with IBEW Local 463 providing for
coverage under this Appendix OO.  An
individual described in the immediately preceding sentence (who on October 4,
2003 has been an employee covered by a collective bargaining agreement
providing coverage under this Appendix OO, and who on October 4, 2003 is not
employed by a Control Group Affiliate) who after October 4, 2003 is reemployed
by a Control Group Affiliate other than as an employee covered by a collective
bargaining agreement with IBEW Local 463 providing for coverage under this
Appendix OO shall be deemed to have a Change in Employment Status on the date
the individual is reemployed by the Control Group Affiliate and shall be deemed
to have subparagraph (I) of paragraph (2) of subsection (d) of Section 1.01 of
the Plan applied to the individual, but with the date the individual is
reemployed by the Control Group Affiliate replacing January 1, 2003
therein.   The immediately preceding
sentence shall not be interpreted to cause the provisions of Article VIII of
this Appendix OO, including Section 8.2 of this Appendix OO, to apply to anyone
other than those individuals to whom it applied prior to October 4, 2003.


 


(d)  An individual who on October 4, 2003 has
been an employee covered by a collective bargaining agreement providing for
coverage under this Appendix OO, who on October 4, 2003 is employed by a
Control Group Affiliate, and who on October 4, 2003 is not an employee covered
by a collective bargaining agreement providing for coverage under this Appendix
OO shall not be after October 4, 2003 an Employee covered by a collective
bargaining agreement providing for coverage under this Appendix OO and shall
not after October 4, 2003 accrue any benefit under this Appendix OO as an
Employee covered by a collective bargaining agreement providing for coverage
under this Appendix OO, unless the individual after October 4, 2003 is an
employee covered by a collective bargaining agreement with IBEW Local 463 and
becomes an Employee under this Appendix OO as an employee covered by a
collective bargaining agreement with IBEW Local 463 providing for coverage
under this Appendix OO.  Subparagraph
(H) of paragraph (2) of subsection (d) of Section 1.01 of the Plan, however,
shall continue to apply to an individual described in the immediately preceding
sentence (who on October 4, 2003 has been an employee covered by a collective
bargaining agreement providing for coverage under this Appendix OO, who on
October 4, 2003 is employed by a Control Group Affiliate, and who on October 4,
2003 is not an employee covered by a collective bargaining agreement providing
for coverage under this Appendix OO).


 


IN
WITNESS WHEREOF, the Company, by its duly authorized officer, has caused this
Amendment No. 5 to ALLTEL Corporation Pension Plan (January 1, 2001
Restatement) to be executed on this 2nd day of October, 2003.


 


	
   

  	
  ALLTEL CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Scott T. Ford

  
	
   

  	
   

  	
  Title:

  	
  President & CEO