Document:

exhibit10_5.htm

     

    Exhibit
10.5

     

     

    AMENDMENT
TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT

    

    This
Amendment to the Amended and Restated Employment Agreement is entered into as of
July 1, 2008 (the “Effective Date”) by and between CHARTER COMMUNICATIONS, INC.,
a Delaware corporation (the “Company”), and Robert A. Quigley, an
adult resident of Illinois (the “Executive”).

    

    WHEREAS,
the Company and the Executive entered into a Amended and Restated Employment
Agreement effective August 1, 2007 (the “Agreement”);

     

    WHEREAS,
the Company and the Executive desire to amend the Agreement as set forth
herein;

     

    NOW, THEREFORE, intending to be legally
bound and in consideration of the covenants and promises set forth herein, the
receipt and sufficiency of which is hereby acknowledged, the Company and the
Executive agree that the Agreement shall be amended as follows:

    

    1.  Section
2 of the Agreement is hereby amended in its entirety to read as follows: "The
Company hereby employs the Executive, and the Executive hereby accepts his
employment, under the terms and conditions hereof, for the period (the 'Term')
beginning on the Effective Date hereof and terminating on December 31,
2008."

    

    2.  Section
3 of the Agreement is hereby amended in its entirety to read as follows:
"Executive shall serve as an advisor reporting to the Chief Executive Officer,
with such responsibilities, duties and authority as are assigned to him by the
Chief Executive Officer or his designee."

    

    3.  Section
5 of the Agreement, is hereby amended in its entirety to read as
follows:  "Executive shall receive a total base salary of $60,000 for
the Term of the Agreement all payable during the Term, less standard deductions,
paid in accordance with the Company's general payroll practices for executives,
but no less frequently than monthly."

    

    4.  Section
6 of the Agreement is hereby amended in its entirety to read as follows: "For
2008, the Executive shall be eligible to receive a bonus in an amount equal to
75% of Executive's previous Target Bonus of up to 60% of his Annual Base Salary
prior to July 1, 2008 of $470,000, such total potential bonus amount being
$211,500 (the "2008 Bonus"); provided that, $100,000 of the 2008 Bonus shall be
payable to the Executive on the Effective Date hereof, and is not refundable to
the Company.  The remainder of the 2008 Bonus, if any, shall be paid
pursuant to, and as set forth in, the terms of the Executive Bonus Plan as such
Plan may be amended from time to time, and as shall be determined by the
Committee in its sole discretion, with such remainder of the 2008 Bonus being
paid on or before February 28, 2009, or 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    as soon as is
administratively practicable thereafter (e.g., after the public disclosure of
the Company’s financial results for the prior year on SEC Form 10-K or on such
replacement form as the SEC shall determine)."

     

    5.  Sections 7, 8 and 9 and
14, and any other sections as applicable, are amended so that all awards granted
under the 2001 Stock Incentive Plan will vest through December 31,
2008.

     

    6.  Notwithstanding any other
provision in the Agreement, Executive shall receive a lump sum payment, payable
on the Effective Date hereof, equal to the amount for Executive to receive under
COBRA the paid coverage for health, dental and vision benefits then being
provided for Executive at the Company’s cost; provided that, after December 31,
2008, the Executive remains eligible for COBRA, the Company will pay no further
amounts for such cost of COBRA coverage.

     

    The Company and the Executive agree
that all other provisions of the Agreement  shall remain in full force
and effect until expiration or earlier termination upon the terms
therein.

     

    IN
WITNESS WHEREOF, the Company and the Executive have each caused this Amendment
to Restated and Amended Employment Agreement to be duly executed on its behalf
as of the date first above written.

    

    CHARTER
COMMUNICATIONS, INC.

    

    

    By: /s/ Lynne F.
Ramsey

    Name:
Lynne F. Ramsey

    Title:
SVP, Human Resources

    

    

    EXECUTIVE

    

    /s/ Robert A.
Quigley

    Name: Robert
A. QuigleyEXHIBIT 10.1

 

Summary
of Executive Salary and Bonus Arrangements

 

The
table below summarizes the current annual salary and bonus arrangements we have
with each of our current executive officers. All of the compensation
arrangements we have with our executive officers, including with respect to
annual salaries and bonuses, are reviewed and may be modified from time to time
by the Compensation Committee of our Board of Directors. The Compensation
Committee approved the annual salary and bonus arrangements noted in the table
below.

 

We
have written employment arrangements with each of our executive officers, and a
copy of each such employment arrangement has been filed as an exhibit to our
Quarterly Report on Form 10-Q for the period ended March 31, 2008 and
our Annual Report on Form 10-K for the year ended December 31, 2007
filed with the SEC on May 12, 2008 and March 17, 2008, respectively,
as applicable. The non-salary and bonus components of our compensation
arrangements with our executive officers, including with respect to severance,
option grants and other benefits, are described in those respective agreements.
We generally pay bonuses, if any, to our executive officers on a quarterly
basis. Mr. Hayek is paid bonus annually, if any. Certain of our executive
officers participate in the executive bonus plan that was adopted by the
Compensation Committee on February 9, 2005 and amended effective on January 1,
2008, a description of which is filed as Exhibit 10.2 to the accompanying
Quarterly Report on Form 10-Q for the quarter ended June 30, 2008. In
addition to the bonus arrangements noted in the table below, all of our
executive officers are eligible for discretionary bonuses as determined from
time to time by the Compensation Committee.

 

	
  Executive Officer

  	
   

  	
  Annual

  Base Salary

  	
   

  	
  Bonus

  	
   

  
	
  Frank F. Khulusi

  Chairman, President and Chief Executive Officer

  	
   

  	
  $

  	
  800,000

  	
   

  	
  (1)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Brandon H. LaVerne

  Chief Financial Officer, Treasurer and Assistant Secretary

  	
   

  	
  $

  	
  275,000

  	
   

  	
  (1)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Kristin M. Rogers

  Executive Vice President—Sales and Marketing

  	
   

  	
  $

  	
  335,000

  	
   

  	
  (1)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Daniel J. DeVries

  Executive Vice President—Consumer

  	
   

  	
  $

  	
  275,000

  	
   

  	
  (1)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Joseph B. Hayek

  Executive Vice President—Corporate Development and Investor Relations

  	
   

  	
  $

  	
  225,000

  	
   

  	
  (2)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Robert I. Newton

  General Counsel and Secretary

  	
   

  	
  $

  	
  300,000

  	
   

  	
  (3)

  	
   

  

 

(1)      Mr. Khulusi, Mr. LaVerne, Ms. Rogers
and Mr. DeVries are eligible to participate in our executive bonus plan
referenced above.

 

(2)      Mr. Hayek is eligible to receive an annual
discretionary bonus in the initial targeted annual amount of $50,000, which
will be paid annually in accordance with a to be established bonus plan or
program.

 

(3)      Mr. Newton is eligible to receive an annual bonus
of up to $120,000, paid in quarterly installments, as well as discretionary
bonuses as determined from time to time by the Compensation Committee.EXHIBIT 10.2

 

Summary of Executive Bonus Plan

 

On February 9, 2005, the Compensation Committee
of our Board of Directors adopted an executive bonus plan effective beginning January 1,
2005. The executive bonus plan was amended by the Compensation Committee
effective January 1, 2008. Under the amended executive bonus plan, our
eligible executive officers are eligible to receive (i) a quarterly bonus
of up to a specified percentage of any amount by which the Company’s
consolidated adjusted pre-tax income for such quarter exceeds the Company’s
consolidated adjusted pre-tax income for the same quarter of the prior year and
(ii) an annual bonus of up to a specified percentage of any amount by
which the Company’s consolidated adjusted pre-tax income for the fiscal year
exceeds the Company’s consolidated adjusted pre-tax income for the previous
fiscal year. For purposes of the executive bonus plan, “adjusted income” is
defined as the Company’s consolidated pre-tax income for the applicable quarter
or annual period, less certain costs that are excluded from the calculation on
a quarterly or annual basis by the Compensation Committee in its sole
discretion.

 

The maximum participation percentage for our executive
officers currently eligible to participate in the plan is as follows:

 

	
  

  

  PLAN PARTICIPANT

  	
  Maximum

  Percentage

  Participation In

  Quarterly Bonus

  	
  Maximum

  Percentage

  Participation In

  Annual Bonus

  
	
  Frank F. Khulusi

  President and Chief Executive Officer

  	
   

  2.85%

   

  	
   

  0.95%

   

  
	
  Brandon H. LaVerne

  Chief Financial Officer

  	
   

  0.90%

   

  	
   

  0.30%

   

  
	
  Kristin M. Rogers

  Executive Vice President—Sales and Marketing

  	
   

  0.90%

   

  	
   

  0.30%

   

  
	
  Daniel J. DeVries

  Executive Vice President—Consumer

  	
   

  0.90%

   

  	
   

  0.30%

   

  

 

The Compensation Committee may amend the foregoing
percentages from time to time in its sole discretion. In addition, the
Compensation Committee may in its sole discretion reduce the amounts that would
otherwise be payable to any participant for any period (including a complete
elimination of all amounts identified under the table above for the period). Any
such reduction may be based on quantitative or qualitative factors determined
in the discretion of the Compensation Committee.

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