Document:

Exhibit 4.2

 

FIRST
SUPPLEMENTAL INDENTURE

 

THIS
FIRST SUPPLEMENTAL INDENTURE dated as of June 30, 2005
is by and among U.S. BANK NATIONAL ASSOCIATION, a
national banking association, as Trustee
(herein, together with its successors in trust, the “Trustee”) and iPCS, INC. (the “Successor  Company”), a Delaware
corporation that will be the successor by merger of HORIZON PCS,
INC. (the “Existing Issuer”), a Delaware corporation and the “Company”
under the Indenture referred to below.

 

NOW,
THEREFORE, in consideration of the premises set forth herein
and for other good and valuable consideration, the receipt and sufficiency of
which are  hereby acknowledged by the parties hereto, the Trustee and
the Successor Company hereby agree as follows:

 

PRELIMINARY
STATEMENTS

 

The Trustee and the
Existing Issuer are parties to that certain Indenture dated as of July 19,
2005 (the “Indenture”), pursuant to which the Existing Issuer issued $125,000,000
of its 11 3/8 % Senior Notes due 2012 (the “Notes”).

 

As permitted by the terms
of the Indenture, the Existing Issuer is, simultaneously with the effectiveness
of this First Supplemental Indenture, merging (referred to herein as the “Transaction”)
with and into the Successor Company, with the Successor Company as the
surviving corporation. The parties hereto are entering into this First
Supplemental Indenture pursuant to, and in accordance with, Section 9.01
of the Indenture.

 

SECTION 1.
Definitions.  All capitalized terms used
herein which are defined in the Indenture, either directly or by reference
therein, shall have the respective meanings assigned them in the Indenture
except as otherwise provided herein or unless the context otherwise requires.

 

SECTION 2.
Interpretation.  (a) In this first
Supplemental Indenture, unless a clear contrary intention appears:

 

(i)            the singular number includes the
plural number and vice versa;

 

(ii)           reference to any gender includes the
other gender;

 

(iii)          the words “herein” “hereof” “hereto”
and “hereunder” and other words of similar import refer to this First
Supplemental Indenture as a whole and not to any particular Section or
other subdivision;

 

(iv)          reference to any Person includes such
Person’s successors and assigns but, if applicable, only if such successors and
assigns are permitted by this First Supplemental Indenture or the Indenture,
and reference to a Person in a particular capacity excludes such Person in any
other capacity or individually

 

 

provided that nothing in
this clause (iv) is intended to authorize any assignment not otherwise
permitted by this First Supplemental Indenture or the Indenture;

 

(v)           reference to any agreement, document
or instrument means such agreement, document or instrument as amended,
supplemented or modified and in effect from time to time in accordance with the
terms thereof and, if applicable, the terms hereof, as well as any substitution
or replacement therefore and reference to any note includes modifications
thereof and any note issued in extension or renewal thereof or in substitution
or replacement therefore; and

 

(vi)          the word
“including” (and with correlative meaning “include”) means including without
limiting the generality of any description preceding such term.

 

(b)           No
provision in this First Supplemental Indenture shall be interpreted or construed
against any Person because that Person or its legal representative drafted such
provision.

 

SECTION 3.
Assumption of Obligations.  (a)                Pursuant
to, and in compliance and accordance with, Section 5.02 of the Indenture,
the Successor Company hereby expressly and unconditionally assumes the due and
punctual payment of the principal of and 
premium, if any, and interest on, the Notes and the due and punctual
performance and observance of each and every covenant and condition of the
Company under the Indenture, all as if the Successor Company had originally been
the Company thereunder.

 

(b)           Pursuant to Section 5.02 of the
Indenture, the Successor Company shall succeed to, and be substituted for the
Company, and may exercise every right and power of, the Company under the
Indenture with the same effect as if the Successor Company had originally been
the Company under the Indenture.

 

SECTION 4.
Representations and Warranties.  The
Successor Company represents and warrants that (a) it has all necessary
power and authority to execute and deliver this First Supplemental Indenture
and to perform the Indenture, (b) that, as of the Effective Time (as
defined in that certain Agreement and Plan of Merger dated May 17, 2005 by
and between the Successor Company and the Existing Issuer), will be the
successor by merger to the Existing Issuer pursuant to a valid merger effected
in accordance with applicable law, (c) that it is a corporation organized
and existing under the laws of the State of Delaware, (d) that immediately
after giving effect to this First Supplemental Indenture, no Default or Event
of Default will exist, and (e) that this First Supplemental Indenture is
executed and delivered pursuant to Section 9.01 of the Indenture and does
not require the consent of the Holders.

 

SECTION 5.
Conditions of Effectiveness.  This First
Supplemental Indenture shall become effective upon the last to occur of the
following,

 

(a)           the
Trustee shall have executed a counterpart of this First Supplemental

 

 

Indenture
and shall have received a counterpart of this First Supplemental Indenture
executed by the Successor Company;

 

(b)           the Trustee shall have received an
Officers’ Certificate stating that the Transaction and this First Supplemental
Indenture comply with Article 9 of the Indenture;

 

(c)           the Trustee shall have received an
Opinion of Counsel, in form and substance satisfactory to it, to the effect
that the Transaction and the execution and delivery of this First Supplemental
Indenture is permitted by and is effected in compliance with the Indenture; and

 

(d)           the Effective Time shall have
occurred.

 

SECTION 6.
Reference to the Indenture.  (a) Upon the
effectiveness of this First Supplemental Indenture, each reference in the
Indenture to “this Indenture,” “hereunder,” “herein” or words of like import
shall mean and be a reference to the Indenture, as affected, amended and
supplemented hereby.

 

(b)           Upon the effectiveness of this First
Supplemental Indenture, all references in each of the Notes, and in the other documents and instruments
executed in connection therewith, to the Indenture, including each term
defined by reference to the Indenture, shall mean and be a reference to the
Indenture or such term, as the case may be, as affected, amended and
supplemented hereby.

 

(c)           The Indenture, as amended and
supplemented by this First Supplemental Indenture, shall remain in full force
and effect and is hereby ratified and confirmed.

 

SECTION 7.
Execution in Counterparts.  This First Supplemental Indenture may be
executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed and delivered shall be
deemed to be an original and all of which when taken together shall constitute
but one and the same instrument.

 

SECTION 8.
Governing Law; Binding Effect.  This First
Supplemental Indenture shall be governed by and construed in accordance with
the laws of the State of New York and shall be binding upon the parties hereto
and their respective successors and assigns.

 

SECTION 9.
The Trustee.  The
Trustee shall not be responsible in any manner whatsoever for or in respect of
the validity or sufficiency of this First Supplemental Indenture or the due
execution thereof by the Successor Company. The recitals of fact contained
herein shall be taken as the statements solely of the Successor Company, and
the Trustee assumes no responsibility for the correctness thereof.

 

[Signatures begin
on following page]

 

 

IN
WITNESS WHEREOF, the parties hereto have caused this First
Supplemental Indenture to be executed and effective as of the date first stated
herein, by their respective offices thereunto duly authorized.

 

 

	
   

  	
  iPCS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
    /S/ TIMOTHY
  M. YAGER

  	
   

  
	
   

  	
  Name: Timothy M. Yager

  
	
   

  	
  Title: President and
  Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  U.S. BANK NATIONAL ASSOCIATION,

  
	
   

  	
  as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /S/
  CAUNA M. SILVA

  	
   

  
	
   

  	
  Name: Cauna M. Silva

  
	
   

  	
  Title: Vice PresidentExhibit 10.1

 

June
29, 2005

 

 

 

Mr.
W. James McNerney, Jr.

3M
Center

St.
Paul, MN 55144

 

RE:         Resignation as Chairman of the Board and Chief Executive
Officer

 

Dear Jim:

I want to express to
you on behalf of 3M’s Board of Directors our appreciation for your years of
service to the company and the significant contributions you have made to 3M in
your role as Chairman of 3M’s Board of Directors and Chief Executive Officer
(“CEO”). This letter agreement serves to memorialize your voluntary resignation
effective as of June 30, 2005 (the “Date of Termination”), as 3M’s CEO, as
Chairman of the Board of 3M’s Board of Directors, and from all other positions
that you then hold as an employee, officer or an employee, officer or member of
the board of directors of 3M’s subsidiaries or affiliates and our understanding
of certain matters regarding your departure. This letter also constitutes 3M’s
acceptance of your resignation.

1.                                       Characterization under
Employment Agreement.  For purposes of your employment agreement
with 3M dated as of December 4, 2000 (the “Employment Agreement”), your
resignation will be treated as a termination of employment by you other than
for Good Reason.  Capitalized terms used
in this letter agreement and not otherwise defined shall have the meaning
ascribed thereto in the Employment Agreement.

2.                                       Equity and Other Compensatory Awards. Consistent with the terms of
the Employment Agreement, all of your vested stock options as of the Date of
Termination will remain exercisable for ninety (90) days following the Date of
Termination and there are no limitations on your exercise of the vested stock
options or sale of the underlying stock other than those related to insider
information.  The window for such sales
is scheduled to open on or about July 22, 2005. 
We will promptly notify you of any change in such date.  During this ninety-day period, you agree to
notify Gregg M. Larson prior to engaging in any transaction in 3M securities so
as to consult about the potential applicability of insider trading restrictions.  All of your other equity and other
compensatory awards will be governed by their terms and the terms of the plans
or programs under which they were granted, such that unvested restricted stock,
stock options, and awards under the Performance Unit Plan will be forfeited as
of the Date of Termination.

 

 

3.                                       Compensation and Benefits.  Consistent with the terms of Section 8.01 of
the Employment Agreement, 3M will pay you immediately after the Termination
Date (or as soon thereafter as reasonably possible) your accrued but unpaid
base salary, any accrued but unused vacation benefits and personal holidays,
and your earned profit sharing under the Executive Profit Sharing Plan for the
quarter ending June 30, 2005.  Your
participation in 3M’s employee benefit plans will end as of the Date of
Termination in accordance with the provisions of such plans, although the
termination will have no impact on any benefits in which you shall have become
vested prior to such Date of Termination. 
All of your unvested employee benefits, including but not limited to
your qualified and nonqualified pension benefits and the supplemental
retirement benefits provided for in Article VII of the Employment Agreement,
will be forfeited as of the Date of Termination in accordance with the terms of
the respective employee benefit plans and the Employment Agreement.  You will also be reimbursed for any incurred
but unreimbursed business expenses in accordance with 3M’s procedures upon
presentation of documentation and 3M will make any unpaid payments that are due
for benefits for the period of your employment.    You expressly acknowledge and agree that
you are not entitled to receive any severance pay or severance benefits of any
kind whatsoever from 3M or any of its affiliates as a result of the termination
of your employment.

4.                                      Post-Termination Assistance. You agree that, following
your resignation, you will use reasonable business efforts, with due regard for
your other commitments, to provide assistance to 3M consistent with the
following and 3M will reimburse any expenses you incur in connection therewith:

a.               Consult as reasonably
requested by 3M for a period of at least sixty (60) days following public
announcement of your resignation.

b.              Provide reasonable
assistance to support the certifications by 3M’s interim Chief Executive
Officer and 3M’s Chief Financial Officer in connection with 3M’s quarterly
report on Form 10-Q for the quarterly period ended June 30, 2005 to the extent,
and only to the extent, you have current knowledge.

c.               To reasonably cooperate with
3M on claims and litigation arising out of pre-termination matters related to
3M as to which you have knowledge as a result of your 3M service.

5,                                      Waiver of Rights.  You
acknowledge that there are various state, local and federal laws that prohibit
employment discrimination on a number of bases including, but not limited to,
age, sex, race, color, national origin, religion, disability, sexual
orientation or veteran status and that these laws are enforced through the Equal
Employment Opportunity Commission, Department of Labor and State or Local Human
Rights agencies. Such laws include, without limitation, Title VII of the Civil
Rights Act of 1964 as amended, 42 U.S.C. Sec. 2000 et. seq.; the
Age Discrimination in Employment Act, 29 U.S.C. Sec. 621 et. seq.;
the Americans with Disabilities Act, 42 U.S.C. Sec. 12101; the Employee
Retirement

 

2

 

Income Security Act, as
amended, 29 U.S.C. Sec. 1001 et. sec.; and 42 U.S.C. Sec. 1981,
and other state and local human or civil rights laws as well as other statutes
which regulate employment; and the common law of contracts and torts. In
consideration of this letter agreement and other good and valuable
consideration, the receipt and sufficiency of which you will acknowledge by
signing this letter agreement, you herby waive and release any rights you may
have as of the date of your execution of this letter agreement under these or
any other laws with respect to your employment and termination of employment
with 3M and acknowledge that based on your knowledge as of the date of your
execution of this letter agreement, 3M has not (a) discriminated against you,
(b) breached any contract with you, (c) committed any civil wrong (tort) against
you, or (d) otherwise acted unlawfully towards you.

6.                                      Entire Agreement. This letter agreement sets forth the entire
agreement of you and 3M with respect to the subject matter hereof, and
supersedes and terminates in their entirety any prior agreements between you
and 3M, including the Employment Agreement, except those provisions that
expressly survive the termination of employment, including the obligations of
non-solicitation of employees, confidentiality and non-competition in Article
IX and the obligation of indemnification as director and officer in Section
10.16, and the 3M Employee Agreement that you signed. Any rights of
indemnification and to director and officer liability insurance shall also
remain in full force and effect.

 

Thanks again Jim for your leadership and for
all you have done for 3M.

 

 

	
  Sincerely,

  
	
   

  
	
  /s/ Robert S. Morrison

  
	
  Robert S. Morrison,

  
	
  Chairman of the Board

  
	
  3M Board of Directors

  
	
   

  
	
  /s/ W. James McNerney, Jr.

  
	
  W. James McNerney, Jr.

  

 

 

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