Document:

Exhibit 10.34

 

FIRST
AMENDMENT TO THE

WADDELL & REED FINANCIAL, INC. 

NON-QUALIFIED STOCK OPTION GRANT AGREEMENT

 

This First Amendment to the
Waddell & Reed Financial, Inc. Non-Qualified Stock Option Grant
Agreement (the “Amendment”) is made and entered into on this 7th day
of November, 2007, between Waddell & Reed Financial, Inc. (the “Company”)
and the undersigned holder of options to purchase shares of the Company’s Class A
Common Stock (the “Optionee”).

 

WHEREAS, the Company
previously granted to Optionee the option identified on the attached Schedule I
(the “Option”) to purchase shares of the Company’s Class A Common Stock
(the “Stock”) under the Waddell & Reed Financial, Inc. 1998 Stock
Incentive Plan, as amended and restated (the “Plan”);

 

WHEREAS, the Company
and the Optionee entered into a formal Stock Option Grant Agreement (the “Option
Agreement”) evidencing each such Option; and

 

WHEREAS, the Company
desires to amend the Option Agreement to require that the Optionee surrender
the Option to the Company for a single lump sum cash payment in full settlement
of the Option.

 

NOW
THEREFORE, the Option Agreement shall be amended as follows:

 

1.                                       Section 5 of the Option
Agreement shall be amended and restated in its entirety to read as follows:

 

5.             Cash Settlement of Option.  Notwithstanding any other provision in the
Option Agreement to the contrary, the Company hereby cancels the Option and on
and after the date hereof the Optionee will not be entitled to exercise the
Option.  The Optionee will receive in consideration
for the cancellation of the Option an amount in cash equal to the product
obtained, less any applicable tax withholding, by multiplying (i) the
excess of the Fair Market Value of a share of Stock over the per Share purchase
price of the Option, by (ii) the number of Shares subject to the
Option.  The Optionee understands that
the cancellation of all or a portion of the Option pursuant to this Amendment
and the acceptance of the consideration set forth herein will constitute a
binding agreement between the Optionee and the Company upon the terms and
subject to the conditions of this Amendment.

 

2.                                       The Option Agreement will
terminate and be surrendered by the Optionee to the Company effective as of the
date hereof.

 

 

IN
WITNESS WHEREOF, the undersigned, intending to be legally bound,
have executed this Amendment effective as provided above.

 

	
   

  	
  COMPANY:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Daniel P. Connealy

  	
   

  
	
   

  	
   

  	
  Daniel P. Connealy

  
	
   

  	
   

  	
  Senior Vice President and
  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  OPTIONEE:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Henry J. Herrmann

  	
   

  
	
   

  	
  Henry J. Herrmann

  
	
   

  	
  Trustee, the Henry J.
  Herrmann Trust dated 

  October 12, 1999, as amended December 21, 2001

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
						

 

2

 

SCHEDULE
I

 

 

	
  Option No.

  	
   

  	
  Grant Date

  	
   

  	
  Outstanding Options

  	
   

  	
  Strike Price

  	
   

  	
  Expiration Date

  
	
  1949

  	
   

  	
  08/01/2002

  	
   

  	
  155,313

  	
   

  	
  18.00

  	
   

  	
  03/05/2008

  

 

 

 

I-1Exhibit 4.10

 

SECOND SUPPLEMENTAL WARRANT
AGREEMENT

 

SECOND SUPPLEMENTAL WARRANT AGREEMENT (this “Supplemental Warrant
Agreement”) dated as of December 11, 2007, between  Virgin Media
Inc., a Delaware corporation formerly known as NTL Incorporated (the “Company”), and The Bank
of New York, a New York Mellon banking corporation, as Warrant Agent (the “Warrant
Agent”) (collectively, the “Parties”).

 

WHEREAS,
the Company and Continental Stock Transfer & Trust Company, as
predecessor warrant agent, entered into a Series A Warrant Agreement dated
as of January 10, 2003, which was amended by a First Supplemental Warrant
Agreement between the Company and the Warrant Agent dated as of March 3,
2006 (the “Warrant Agreement”), providing for the issuance of a maximum of
12,500,000 warrants (the “Warrants”) to purchase shares of common stock of the
Company;

 

WHEREAS,
NASDAQ Global Select Market’s listing standards require, with effect from January 1,
2008, that all listed securities be eligible for participation in the Direct
Registration System (“DRS”), a facility currently administered by The
Depository Trust Company;

 

WHEREAS,
the Warrants are not presently DRS-eligible, and this Supplemental Warrant
Agreement is required in order for the Warrants to become DRS-eligible; and

 

WHEREAS, all conditions and
requirements necessary to make this Supplemental Warrant Agreement a valid
legal instrument binding upon the Parties in accordance with its terms have
been performed and fulfilled by the applicable parties hereto, and the
execution and delivery hereof have been in all respects duly authorized by the
applicable parties hereto;

 

NOW, THEREFORE, in
consideration of the foregoing and for other good and valuable consideration,
the receipt of which is hereby acknowledged, each party agrees, for the benefit
of the others and for the equal and ratable benefit of the holders of the
Warrants as follows:

 

Section 1. Definitions.
For all purposes of this Supplemental Warrant Agreement, except as otherwise
herein expressly provided or unless the context otherwise requires, the terms
and expressions used herein shall have the same meanings as corresponding terms
and expressions used in the Warrant Agreement.

 

Section 2. Effect of
Supplemental Warrant Agreement. Upon the execution and delivery of
this Supplemental Warrant Agreement by the Parties, the Warrant Agreement shall
be supplemented in accordance herewith, and this Supplemental Warrant Agreement
shall form a part of the Warrant Agreement for all purposes, and every holder
of a Warrant heretofore or hereafter countersigned and delivered under the
Warrant Agreement shall be bound hereby.

 

Section 3. Warrant Agreement
Remains in Full Force and Effect. Except as expressly amended and
supplemented hereby, the Warrant Agreement is in all respects ratified and 

 

 

 

confirmed
and all terms, conditions and provisions of the Warrant Agreement shall remain
in full force and effect.

 

Section 4. Warrant Agreement and
Supplemental Warrant Agreement Construed Together. This Supplemental
Warrant Agreement is a warrant agreement supplemental to and in implementation
of the Warrant Agreement, and the Warrant Agreement and this Supplemental
Warrant Agreement shall be read and construed together.

 

Section 5. Successors.
All the covenants and provisions of this Supplemental Warrant Agreement by or
for the benefit of the Parties shall bind and inure to the benefit of their
respective successors and assigns hereunder.

 

Section 6. Governing Law;
Jurisdiction. This Supplemental Warrant Agreement shall be deemed to
be a contract made under the laws of the State of New York and for all purposes
shall be governed by and construed in accordance with the internal laws of said
state. The Parties irrevocably consent to the jurisdiction of the courts of the
state of New York and any federal court located in such state in connection
with any action, suit or proceeding arising out of or relating to this
Supplemental Warrant Agreement. Each of the Parties hereto also irrevocably
waives all right to trial by jury in any action, proceeding or counterclaim
arising out of this Agreement or the transactions contemplated hereby.

 

Section 7. Benefits of
Supplemental Warrant Agreement. Nothing in this Supplemental Warrant
Agreement shall be construed to give to any person other than the Parties and
the registered holders of the Warrant Certificates any legal or equitable
right, remedy or claim under this Supplemental Warrant Agreement; but this
Supplemental Warrant Agreement shall be for the sole and exclusive benefit of
the Parties and the registered holders of the Warrant Certificates.

 

Section 8. Counterparts.
This Supplemental Warrant Agreement may be executed in any number of
counterparts and each of such counterparts shall for all purposes be deemed to
be an original, and all such counterparts shall together constitute but one and
the same instrument.

 

Section 9. Certain Duties and
Responsibilities of Warrant Agent. In entering into this
Supplemental Warrant Agreement, the Warrant Agent shall be entitled to the
benefit of every provision of the Warrant Agreement relating to the conduct or
affecting the liability of or affording protection to the Warrant Agent,
whether or not elsewhere herein so provided. The Warrant Agent shall not be
responsible in any manner whatsoever for or in respect of the validity or
sufficiency of this Supplemental Warrant Agreement.

 

Section 10. Amendment to the
Warrant Agreement

 

(a)                   Section 2
of the Warrant Agreement is hereby amended in its entirety to read as follows:

 

“Form of Warrants.  Warrants
may be issued in either certificated or uncertificated form. In the case of
Warrants issued in certificated form, the certificates evidencing the Warrants
shall be in registered form only and shall be substantially in the form set
forth in Exhibit A attached hereto (“Warrant Certificates”) and may have
such letters, numbers, 

 

 

 

or
other marks of identification or designation and such legends or endorsements
printed, lithographed or engraved thereon as the officers of the Company
executing the same may approve (with execution thereof to be conclusive
evidence of such approval) and as are not inconsistent with the provisions of
this Warrant Agreement, or as may be required to comply with any applicable law
or with any rule or regulation made pursuant thereto or with any rule or
regulation of any exchange, inter-dealer quotation system or regulated
quotation service on which the Warrants may be listed or quoted, as the case
may be. Warrants issued in uncertificated form shall be eligible for inclusion
in the Direct Registration System, a facility currently administered by The
Depository Trust Company. The Company shall take any necessary steps to give
effect to the immediately preceding sentence.”

 

 

 

IN WITNESS WHEREOF, the
parties have caused this Second Supplemental Warrant Agreement to be duly
executed as of the date first written above.

 

	
   

  	
   

  	
   

  	
   

  	
  VIRGIN MEDIA INC.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/
  Bryan Hall

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Bryan
  Hall

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Secretary

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  THE BANK OF NEW YORK MELLON

  
	
   

  	
   

  	
   

  	
   

  	
  as Warrant Agent

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/
  Kerri Shenkin

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Kerri
  Shenkin

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Assistant
  Vice President

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