Exhibit
10(f)(4)


 


ALLTEL
CORPORATION


 


Resolution of Board of Directors


January 28, 1999


 


Re: Amendments to Executive Deferred Compensation Plan and


Deferred Compensation Plan for Directors


 


WHEREAS, the ALLTEL Corporation Executive Deferred Compensation
Plan is currently maintained under an October 1, 1993 Restatement, as amended
(the “Executive Plan”), and the ALLTEL Corporation Deferred Compensation Plan
for Directors is currently maintained under an October 1, 1993 Restatement, as
amended (the “Directors Plan”); and


 


WHEREAS, the Board of Directors of ALLTEL Corporation
(“ALLTEL”) deems it desirable to make certain amendments to the Executive Plan
regarding the payment of benefits under the Executive Plan for certain
Participants, which shall also apply with respect to any deferrals of those
Participants under the ALLTEL Corporation Performance Incentive Compensation
Plan, as amended (the “Performance Plan”), and the ALLTEL Corporation Long-Term
Performance Incentive Plan, as amended (the “Long-Term Performance Plan”), and
to make certain amendments to the Directors Plan regarding the payment of
benefits under the Directors Plan for certain Participants;


 


NOW, THEREFORE, BE IT RESOLVED, that Article IV of the Executive Plan,
be and it hereby is, amended to provide as follows:


 


ARTICLE IV


AMENDMENT AND TERMINATION


 


The Company reserves the right to amend or terminate
the Plan at any time by action of its Board of Directors, and reserves the
right to amend the Plan at any time by action of its Chief Executive Officer to
provide that a Participant shall be paid a single lump sum payment of the
balance to the Participant’s credit under the Plan as of the close of business
on December 31, 1998, in lieu of all other amounts that otherwise would be paid
in accordance with the Plan to the Participant after December 31, 1998; except
that no such action shall modify any election by a Participant or deny any
benefit under the Plan applicable to Compensation deferred by a Participant
prior to the date of such amendment or termination unless the Participant
consents thereto.


 


RESOLVED FURTHER, that the foregoing amendments to the Executive Plan
shall apply with respect to the Performance Plan and the Long-Term Performance
Plan.


 

















 


RESOLVED FURTHER, that Article IV of the Directors Plan be, and it
hereby is, amended to provide as follows:


 


ARTICLE IV


AMENDMENT AND TERMINATION


 


The Company reserves the right to amend or terminate
the Plan at any time by action of its Board of Directors, and reserves the
right to amend the Plan at any time by action of its Chief Executive Officer to
provide that a Participant shall be paid a single lump sum payment of the
balance to the Participant’s credit under the Plan as of the close of business
on December 31, 1998, in lieu of all other amounts that otherwise would be paid
in accordance with the Plan to the Participant after December 31, 1998; except
that no such action shall modify any election by a Participant or deny any
benefit under the Plan applicable to Fees deferred by a Participant prior to
the date of such amendment or termination unless the Participant consents
thereto.


 


 


RESOLVED FURTHER, that the officers of ALLTEL be, and they hereby are,
authorized and directed, for and on behalf of ALLTEL, to take all actions and
to execute all documents as they deem necessary or appropriate to render
effective and otherwise to fully carry out the intent and purposes of the
foregoing resolutions and the transactions contemplated thereby.


 


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