Document:

Exhibit 10.1

 

Stock Option Agreement Terms and Conditions

 

1.             Exercise
of Option. 
This Option shall be vested and exercisable with respect to
[generally:  forty percent (40%) on the last day
of the fiscal year following the grant; 
on the last day of the second fiscal year following the grant, an
additional thirty percent (30%); on the last day of the third fiscal year
following the grant, the remaining thirty percent (30%)].
All such installments shall vest and be exercisable from the commencement date
thereof and ending ten years after the date of this Agreement, all in
accordance with the terms of this Agreement. 
In the event of Change of Control, the Option granted pursuant to this
Agreement shall become immediately exercisable with respect to the full number
of shares subject to this Option notwithstanding the preceding.  Additionally, upon the death of the Optionee
while employed by ConAgra Foods, Inc. (the Company), or a subsidiary thereof,
or if the Optionee terminates employment with the Company, or a subsidiary
thereof, upon Normal Retirement (as defined in Paragraph 9(c) below), all
Options hereunder shall become 100% vested and exercisable.  The Option shall be subject to the
following:

(a)           Right
to Exercise. 
This Option shall be exercisable during the term of the Option, by the
Optionee:

(i)            while
the Optionee is in Continuous Employment with the Company;

(ii)           for
a period ending 90 days after the Optionee’s Continuous Employment terminates
for any reason.  The options that may be
exercised are those that are vested at the time termination of employment
occurs;

(iii)          for
a period ending three (3) years after the Optionee qualifies for and takes
Early Retirement; however, the Company, at the sole and absolute discretion of
the Human Resources Committee of the Board, may shorten or eliminate such
period.  The options that may be
exercised are those that are vested at the time Early Retirement occurs;

(iv)          for
a period ending three (3) years after the Optionee’s Normal Retirement from
Continuous Employment with the Company; and

(v)           for
a period of three (3) years after date of death (by the estate of the Optionee)
if the Optionee should die while in the Continuous Employment of the Company.

(b)           Method
of Exercise. 
This Option shall be exercisable by a written notice which shall:

(i)            state
the election to exercise the Option, the number of shares in respect of which
it is being exercised, the person in whose name the stock certificate or
certificates for such shares of Common Stock is to be registered, his/her
address and social security number;

(ii)           be signed by the person or persons entitled to exercise the
Option and, if the Option is being exercised by any person or persons other
than the Optionee, be accompanied by proof satisfactory to counsel for the
Company of the right of such person or persons to exercise the Option.  Payment of the purchase price of any shares
with respect to which the Option is being exercised shall be by check, and
shall be delivered with notice of exercise; provided, however, at the election
of the Optionee, the amount equal to the purchase price may be paid, in whole
or in part, in Common Stock of the Company at fair market value.

(c)           Restrictions on Exercise. 
As a condition to his/her exercise of this Option, the Company may
require the person exercising this Option to make any representation and
warranty to the Company as may be required by any applicable law or regulation.

(d)           Payment of Taxes Upon Exercise.  As a condition of the issuance of shares
hereunder, the Optionee agrees to remit to the Company at the time of exercise
of this Option any taxes required to be withheld by the Company under Federal,
state or local law as a result of the exercise.  The Optionee may remit such amount by check or in a reduction of
the number of shares exercised at fair market value to cover the required
taxes.

 

2.             Cancellation of Options.  Upon the Optionee’s termination of
employment, unvested options shall immediately cancel and any vested options
not exercised during the exercise period set forth in Paragraph 1(a) shall be
cancelled at the end of the exercise period.

 

39

 

Exhibit 10.1

 

Stock Option Agreement Terms and Conditions

 

3.             Non-Transferability
of Option.  This Option may not be
assigned, transferred, pledged or hypothecated in any manner (otherwise than by
will or the laws of descent or distribution) nor may the Optionee enter into
any transaction for the purpose of, or which as the effect of, reducing the
market risk of holding the option by using puts, calls or similar financial
techniques.  This Option may be
exercised during the lifetime of the Optionee only by the Optionee.  The terms of this Option shall be binding
upon the executors, administrators, heirs, successors and assigns of the
Optionee.

 

4.             Stock Subject to the Option.  If the Option should expire or become
unexercisable for any reason without having been exercised in full, any
unpurchased shares which were subject thereto shall once again be subject to
the grant of an Option pursuant to the Plan. 
The Company will not be required to issue or deliver any certificate or
certificates for shares to be issued hereunder until such shares have been
listed (or authorized for listing upon official notice of issuance) upon each
stock exchange on which outstanding shares of the same class are then listed
and until the Company has taken such steps as may, in the opinion of counsel
for the Company, be required by law and applicable regulations, including the
rules and regulations of the Securities and Exchange Commission, and State
Securities Laws and Regulations, in connection with the issuance or sale of
such shares, and the listing of such shares on each such exchange.  The Company will use its best efforts to
comply with any such requirements.

 

5.             Adjustments Upon Changes in
Capitalization.  If all or any
portion of the Option is exercised subsequent to any stock dividend, upon
subdivision, split-up, combination or reclassification of the Common Stock or a
merger or consolidation involving the Company, the Human Resources Committee of
the Board shall make equitable adjustment in the number of shares subject to
this Option and adjustment in the per share Option Price, provided, however,
that no fractional share shall be issued upon subsequent exercise of the Option
and the aggregate price paid shall be appropriately reduced on account of any
fractional share not issued.

 

6.             Notices.  Each notice relating to this Agreement shall
be in writing.  Each notice shall be
deemed to have been given on the date it is received.  Each notice to the Company shall be addressed to its principal
office in Omaha, Nebraska, attention to Corporate Compensation.  Each notice to the Optionee or any other
person or persons entitled to exercise the Option shall be addressed to the
Optionee’s address.  Anyone to whom a
notice may be given under this Agreement may designate a new address by notice
to the effect.

 

7.             Benefits of Agreement.  This Agreement shall inure to the benefit of
and be binding upon each successor of the Company.  All obligations imposed upon the Optionee and all rights granted
to the Company under this Agreement shall be binding upon the Optionee’s heirs,
legal representatives and successors. 
This Agreement shall be the sole and exclusive source of any and all
rights which the Optionee, his heirs and legal representatives or successors
may have in respect to the Plan or any Options or Common Stock granted or
issued thereunder whether to himself or to any other person.

 

8.             Resolution of Disputes.  Any dispute or disagreement which should
arise under or as a result of or in any way related to the interpretation,
construction or application of this Agreement will be determined by the Human
Resources Committee of the Board.  Any
determination made hereunder shall be final, binding and conclusive for all
purposes.  This Agreement and the legal
relations between the parties hereto shall be governed by and construed in
accordance with the laws of the state of Nebraska.

 

9.             Definitions.

(a)           Change of Control. 
Change of Control shall mean:

(i)            the acquisition (other than from the Company) by any
person, entity or “group,” within the meaning of Section 13(d)(3) or 14(d)(2)
of the Securities Exchange Act of 1934 (the “Exchange Act”), (excluding, for
this purpose, the Company or its subsidiaries, or any employee benefit plan of
the Company 

 

40

 

Exhibit 10.1

 

Stock Option Agreement Terms and Conditions

 

or its
subsidiaries which acquires beneficial ownership of voting securities of the
Company) of beneficial ownership (within the meaning of Rule 13d-3 promulgated
under the Exchange Act) of 30% or more of either the then outstanding shares of
common stock or the combined voting power of the Company’s then outstanding
voting securities entitled to vote generally in the election of directors; or

(ii)           individuals who, as of the date hereof, constitute the
Board (as of the date hereof the “Incumbent Board”) cease for any reason to
constitute at least a majority of the Board, provided that any person becoming
a director subsequent to the date hereof whose election, or nomination for the
election by the Company’s shareholders, was approved by a vote of at least a
majority of the directors then comprising the Incumbent Board shall be, for
purposes of this Agreement, considered as though such person were a member of
the Incumbent Board; or

(iii)          consummation of a reorganization, merger or consolidation,
in each case, with respect to which persons who were the stockholders of the
Company immediately prior to such reorganization, merger or consolidation do
not, immediately thereafter, own more than 50% of the combined voting power
entitled to vote generally in the election of directors of the reorganized,
merged or consolidated company’s then outstanding voting securities, or a
liquidation or dissolution of the Company or of the sale of all or
substantially all of the assets of the Company.

(b)           Continuous Employment with the Company.  Continuous Employment with the Company shall
mean the absence of any interruption or termination of employment by the
Company or any parent or subsidiary of the Company which now exists or
hereafter is organized or acquired by the Company.  Continuous Employment shall not be considered interrupted in the
case of sick leave, Long Term Disability, military leave or any other leave of
absence approved by the Company or in the case of transfers between payroll
locations of the Company or between the Company, its parent or subsidiaries or
its successor.

(c)           Normal Retirement. 
Normal Retirement shall mean terminating employment with the Company or
its subsidiaries on or after attaining age 65.

(d)           Early Retirement. 
Early Retirement shall mean qualifying for and taking early retirement
under a pension plan (as defined in § 3(2) of the Employee Retirement
Income Security Act of 1974, as amended) that is sponsored by the Company or
its subsidiaries.  If the Optionee’s
employer does not have a pension plan, then the Company’s salaried pension plan
provisions for Early Retirement shall apply, which provide that the Optionee
must (a) be at least age 55, and (b) have at least ten years of Continuous
Employment with the Company.

 

41Exhibit 10.1

 

EXECUTION COPY

 

AMENDMENT NO. 6 TO THE

AMENDED AND RESTATED FIVE YEAR REVOLVING CREDIT FACILITY

AGREEMENT

 

Dated as of October 4,
2004

 

AMENDMENT NO. 6 TO THE AMENDED AND
RESTATED FIVE YEAR REVOLVING CREDIT FACILITY AGREEMENT among
Avaya Inc., a Delaware corporation (the “Borrower”), the banks,
financial institutions and other institutional lenders parties to the Credit
Agreement referred to below (collectively, the “Lenders”) and Citibank,
N.A., as agent (the “Agent”) for the Lenders.

 

PRELIMINARY STATEMENTS:

 

(1)           The
Borrower, the Lenders and the Agent have entered into an Amended and Restated
Five Year Revolving Agreement dated as of April 30, 2003, as amended by
Amendment No. 1 dated as of June 25, 2003, Amendment No. 2 dated as of October 23,
2003, Amendment No. 3 dated as of January 30, 2004, Amendment No. 4 dated as of
February 6, 2004 and Amendment No. 5 dated as of March 3, 2004 (as so amended,
the “Credit Agreement”). 
Capitalized terms not otherwise defined in this Amendment have the same
meanings as specified in the Credit Agreement.

 

(2)           The
Borrower and the Required Lenders have agreed to amend the Credit Agreement as
hereinafter set forth.

 

SECTION 1.           Amendments
to Credit Agreement.  (a)  Section 5.19(xi) is amended by (i) deleting
the date “January 30, 2004” in the first instance where such date appears and
substituting therefor the date “September 30, 2004”, (ii) deleting the figure
“$500,000,000” and substituting therefor the figure “$1,000,000,000”, (iii) by
deleting from clause (6) the figure “$200,000,000” and substituting therefor
the phrase “the sum of (x) $200,000,000 plus (y) the amount of long-term Debt
prepaid after March 31, 2004 in accordance with the provisions of Section
5.22(a)(iii)” and (iv) by deleting from clause (6) the reference to “Section
5.17(B)(z)” and substituting therefor a reference to “Section 5.17(ii)(B)(z)”.

 

(b)           Section
5.22(a)(iii) is amended by deleting the date “January 30, 2004” and
substituting therefor the date “September 30, 2004”, (ii) deleting the figure
“$500,000,000” and substituting therefor the figure “$360,000,000”.

 

SECTION 2.           Authorization
of Partial Release.  The Agent is
hereby authorized, by and on behalf of the Lenders, to consent to the release
from the Lien under the Collateral Documents of all assets that have been or
are hereafter sold or otherwise disposed of by the Borrower or its subsidiaries
to CIT Communications Finance Corporation (“CIT”) pursuant to the terms
of (a) that certain Master Assignment Agreement between Avaya World Services,
Inc. and CIT dated August 26, 2002, as in effect on the date hereof, or (b)
that certain Master

 

 

Assignment Agreement between the Borrower and CIT dated January 1,
2003, as in effect on the date hereof, and to deliver such consent to the Collateral
Trustee.

 

SECTION 3.           Conditions
of Effectiveness.  This Amendment
shall become effective as of the date first above written when, and only when
(a) the Agent shall have received counterparts of this Amendment executed by
the Borrower and the Required Lenders or, as to any of the Lenders, advice
satisfactory to the Agent that such Lender has executed this Amendment and (b)
the Borrower shall have paid to the Agent any Fees and other amounts due and
payable on or prior to the date hereof.

 

SECTION 4.           Representations
and Warranties of the Borrower.  The
Borrower represents and warrants as follows:

 

(a)           It
(i) is a corporation duly organized, validly existing and in good standing
under the laws of the jurisdiction of its organization, (ii) has all requisite
power and authority to own its property and assets and to carry on its business
as now conducted and as proposed to be conducted, (iii) is qualified to do
business in every jurisdiction where such qualification is required, except
where the failure so to qualify
would not result in a Material Adverse Effect, and (iv) has the corporate
power and authority to execute, deliver and perform its obligations under this
Amendment.

 

(b)           The
execution, delivery and performance by the Borrower of this Amendment and the
Loan Documents, as amended hereby, to which it is a party, and the consummation
of the transactions contemplated hereby (i) have been duly authorized by
all requisite corporate actions and (ii) will not (A) violate
(1) any provision of any law, statute, rule or regulation (including,
without limitation, the Margin Regulations) or of its certificate of
incorporation or other constitutive documents or by-laws, (2) any order of
any Governmental Authority or (3) any provision of any indenture,
agreement or other instrument to which it is a party or by which it or any of
its property is or may be bound, (B) be in conflict with, result in a
breach of or constitute (alone or with notice or lapse of time or both) a
default under any such indenture, agreement or other instrument or
(C) except for the Liens created under the Collateral Documents, result in
the creation or imposition of any lien upon any of the properties of the
Borrower or any of its Subsidiaries.

 

(c)           This
Amendment has been duly executed and delivered by the Borrower.  This Amendment and the Credit Agreement and
the Notes, as amended hereby, are the legal, valid and binding obligations of
the Borrower, enforceable against the Borrower in accordance with their
respective terms.

 

(d)           No
action, consent or approval of, registration or filing with or any other action
by any Governmental Authority is or will be required in connection with the due
execution, delivery, recordation, filing or performance by the Borrower of this
Amendment.

 

(e)           There
are no actions or proceedings filed or (to its knowledge) investigations
pending or threatened against it in any court or before any Governmental
Authority or arbitration board or tribunal which question the validity,
enforceability or legality of or seek damages in connection with this Amendment
or the Credit Agreement and the Notes, as

 

2

 

amended hereby, or any action taken or to be taken pursuant to this
Amendment or the Credit Agreement and the Notes, as amended hereby, and no
order or judgment has been issued or entered restraining or enjoining it from
the execution, delivery or performance of this Amendment or the Credit
Agreement and the Notes, as amended hereby, nor is there any action or
proceeding which involves a probable risk of an adverse determination which
would have any such effect; (ii) nor is there as of the date hereof any other
action or proceeding filed or (to its knowledge) investigation pending or
threatened against it in any court or before any Governmental Authority or
arbitration board or tribunal which involves a probable risk of a material
adverse decision which would result in a Material Adverse Effect , except as
provided in the Borrower’s Annual Report on Form 10-K for the fiscal quarter
ended September 30, 2003, or materially restrict the ability of it to comply
with its obligations under this Amendment or the Credit Agreement and the
Notes, as amended hereby.

 

SECTION 5.           Reference
to and Effect on the Credit Agreement and the Notes.  (a) 
On and after the effectiveness of this Amendment, each reference in the
Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like
import referring to the Credit Agreement, and each reference in each other Loan
Document to “the Credit Agreement”, “thereunder”, “thereof” or words of like
import referring to the Credit Agreement, shall mean and be a reference to the
Credit Agreement, as amended by this Amendment.

 

(b)           The
Credit Agreement and other Loan Documents, as specifically amended by this
Amendment, are and shall continue to be in full force and effect and are hereby
in all respects ratified and confirmed.

 

(c)           The
execution, delivery and effectiveness of this Amendment shall not, except as
expressly provided herein, operate as a waiver of any right, power or remedy of
any Lender or the Agent under the Credit Agreement, nor constitute a waiver of
any provision of the Credit Agreement.

 

SECTION 6.           Costs
and Expenses.  The Borrower agrees
to pay on demand all costs and expenses of the Agent in connection with the
preparation, execution, delivery and administration, modification and amendment
of this Amendment and the other instruments and documents to be delivered
hereunder (including, without limitation, the reasonable fees and expenses of
counsel for the Agent) in accordance with the terms of Section 8.04 of the
Credit Agreement.

 

SECTION 7.           Execution
in Counterparts.  This Amendment may
be executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute but one and the same
agreement.  Delivery of an executed
counterpart of a signature page to this Amendment by telecopier shall be effective
as delivery of a manually executed counterpart of this Amendment.

 

SECTION 8.           Governing
Law.  This Amendment shall be
governed by, and construed in accordance with, the laws of the State of
New York.

 

3

 

IN WITNESS WHEREOF, the parties hereto have caused
this Amendment to be executed by their respective officers thereunto duly
authorized, as of the date first above written.

 

	
   

  	
  AVAYA INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Peter Hong

  	
   

  
	
   

  	
   

  	
  Title: Vice President
  and Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
  CITIBANK, N.A.,
  individually and as Agent,

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Maureen Maroney

  	
   

  
	
   

  	
   

  	
  Name: Maureen Maroney

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  BANK ONE, NA (Main
  Office Chicago)

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Christian Walsh

  	
   

  
	
   

  	
   

  	
  Name: Christian Walsh

  
	
   

  	
   

  	
  Title: Managing
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  JPMORGAN CHASE BANK

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Edmond Deforest

  	
   

  
	
   

  	
   

  	
  Name: Edmond Deforest

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  DEUTSCHE BANK AG NEW
  YORK BRANCH

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/ William W. McGinty

  	
   

  
	
   

  	
   

  	
  Name: William W.
  McGinty

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Andreas Neumeier

  	
   

  
	
   

  	
   

  	
  Name: Andreas Neumeier

  
	
   

  	
   

  	
  Title: Director

  

 

4

 

	
   

  	
  COMMERZBANK AG, NEW
  YORK BRANCH

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Robert S. Taylor

  	
   

  
	
   

  	
   

  	
  Name: Robert S. Taylor

  
	
   

  	
   

  	
  Title: Senior Vice
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Andrew P. Lusk

  	
   

  
	
   

  	
   

  	
  Name: Andrew P. Lusk

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  THE BANK OF NEW YORK

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  THE BANK OF TOKYO –

  
	
   

  	
  MITSUBISHI LTD., NEW
  YORK BRANCH

  
	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Lillian Kim

  	
   

  
	
   

  	
   

  	
  Name: Lillian Kim

  
	
   

  	
   

  	
  Title: Authorized
  Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CREDIT SUISSE FIRST
  BOSTON

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  HSBC BANK USA

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Jeffrey Rothman

  	
   

  
	
   

  	
   

  	
  Name: Jeffrey Rothman

  
	
   

  	
   

  	
  Title: Managing
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  THE NORTHERN TRUST
  COMPANY

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

5

 

	
   

  	
  SUMITOMO MITSUI BANKING

  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  WESTDEUTSCHE LANDESBANK

  GIROZENTRALE, NEW YORK BRANCH

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

6

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