Document:

QuickLinks
 -- Click here to rapidly navigate through this document
  

Exhibit (10)(iii)(A)(4)  

 
  BROADWING INC.    
    
    EXECUTIVE DEFERRED COMPENSATION PLAN    
    
    (As amended and restated effective January 1, 2002)    

SECTION 1  

 NAME AND PURPOSE OF PLAN  

        1.1    Name.    The plan set forth herein shall be known as the Broadwing Inc. Executive Deferred Compensation
Plan (for purposes of this entire document, the "Plan"). 

        1.2    Purpose.    The purpose of the Plan is to provide deferred compensation for a select group of officers and
highly compensated employees of Broadwing Inc. and its affiliates. This document amends and restates the Plan and all predecessor versions of the Plan effective as of January 1, 2002
(the Effective Amendment Date). For all purposes hereof, any reference to the Plan contained herein refers to the Plan both as amended and restated by this document and to the Plan as it was in effect
prior to January 1, 2002 (the Prior Plan). 

SECTION 2  

 GENERAL DEFINITIONS; GENDER AND NUMBER  

        2.1    General Definitions.    For purposes of the Plan, the following terms shall have the meanings hereinafter set
forth unless the context otherwise requires: 

        2.1.1 "Accounts"
means, collectively and with respect to any Participant, all outstanding Cash Deferral Accounts, Share Deferral Accounts, Restricted Stock Accounts, and
Company Matching Accounts maintained for the Participant under the terms of this Plan. 

        2.1.2 "Beneficiary"
means, with respect to any Participant, the person or entity designated by the Participant, on forms furnished and in the manner prescribed by the
Committee, to receive any benefit payable under the Plan after the Participant's death. If a Participant fails to designate a beneficiary or if, for any reason, such designation is not effective, his
"Beneficiary" shall be his surviving spouse or, if none, his estate. 

        2.1.3 "Broadwing"
means Broadwing Inc., or any corporate successor thereto. (Prior to April 20, 2000, Broadwing was named Cincinnati Bell Inc.) 

        2.1.4 "Broadwing
Shares" means common shares of Broadwing. 

        2.1.5 "Company"
means Broadwing, each corporation which is a member of a controlled group of corporations (within the meaning of section 414(b) of the Code, as
modified by section 415(h) of the Code) which includes Broadwing, each trade or business (whether or not incorporated) which is under common control (within the meaning of section 414(c)
of the Code, as modified by section 415(h) of the Code) with Broadwing, each member of an affiliated service group (within the meaning of section 414(m) of the Code) which includes
Broadwing, and each other entity required to be aggregated with Broadwing under section 414(o) of the Code. 

        2.1.6 "Code"
means the Internal Revenue Code of 1986, as such Code now exists or is hereafter amended. 

        2.1.7 "Committee"
means the Compensation Committee of the Board of Directors of Broadwing. 

1

 

        2.1.8 "Effective
Amendment Date" refers to the date as of which the Plan as set forth in this document is effective and means January 1, 2002. 

        2.1.9 "Employee"
means any person who is a common law employee of a Company (i.e., a person whose work procedures are subject
to control by a Company) and is on the employee payroll of a Company. 

        2.1.10 "Key
Employee" means, with respect to any calendar year (for purposes of this Section 2.1.10, the "Subject Year"), an Employee whose base pay and target bonus
for the calendar year immediately preceding the Subject Year total at least $150,000 (or, in the case of an Employee hired during the Subject Year, whose annualized rate of base pay and annualized
target bonus for the Subject Year total at least $150,000) and who has been designated by the Employee's Company as a "Key Employee" for the Subject Year for purposes of the Plan. 

        2.1.11 "Participant"
means a person who as a Key Employee elected to defer any amounts under this Plan. Such person shall remain a Participant until the amounts allocated to
his Accounts have been fully paid and/or forfeited, as the case may be. 

        2.1.12 "Prior
Plan" means all versions of the Plan that were in effect before the Effective Amendment Date. 

        2.2    Gender and Number.    For purposes of the Plan, words used in any gender shall include all other genders, words
used in the singular form shall include the plural form, and words used in the plural form shall include the singular form, as the context may require. 

SECTION 3  

 DEFERRALS; COMPANY MATCH  

        3.1    Election of Deferrals of Basic Salary.    

        3.1.1 Subject
to such rules as the Committee may prescribe, a Key Employee for a calendar year that begins on or after the Effective Amendment Date may, by completing a
deferral form provided by the Committee and filing such form with the Committee prior to or during the course of such calendar year, elect to defer any whole percent or whole dollar amount of his
Basic Salary (but not a percent or amount that is in excess of 75%, or such larger percentage as may be prescribed by the Committee, of his Basic Salary) that is otherwise payable to him both after
the start of such calendar year and at least 30 days after the date on which he has filed such deferral form with the Committee (or that is otherwise payable to him for any specific period that
he designates in such deferral form and that occurs both after the start of such calendar year and at least 30 days after the date on which he has filed such deferral form with the Committee).
Such election shall remain in effect until a change or termination of such election becomes effective under the other provisions of this Plan. 

        3.1.2 Subject
to such rules as the Committee may prescribe, a Participant who has an election to defer a portion of his Basic Salary under this Section 3.1 in effect
may change the percentage or amount of his deferral election from one permissible percentage or amount (as determined under the provisions of Section 3.1.1 above) to another by completing and
signing a new deferral form provided by the Committee and filing such form with the Committee. Such a change shall be effective with respect to his Basic Salary that is otherwise payable to him at
least 30 days after the date on which he has filed such deferral form with the Committee (or that is otherwise payable to him for any specific period that he designates in such deferral form
and that occurs at least 30 days after the date on which he has filed such deferral form with the Committee). 

        3.1.3 Subject
to such rules as the Committee may prescribe, a Participant who has an election to defer a portion of his Basic Salary under this Section 3.1 in effect
may terminate such election 

2

 

by
completing and signing a termination form provided by the Committee and filing such form with the Committee. Such a termination shall be effective with respect to his Basic Salary that is payable
to him at least 30 days after the date on which he has filed such termination form with the Committee (or that is otherwise payable to him beginning as of any specific date that he designates
in such termination form and that occurs at least 30 days after the date on which he has filed such termination form with the Committee). In addition, a Participant who has an election to defer
a portion of his Basic Salary under this Section 3.1 in effect shall have such election terminate automatically with respect to his Basic Salary that is payable to him either after he no longer
is an Employee or after the start of any calendar year for which he no longer qualifies as a Key Employee. A Participant whose election to defer a portion of his Basic Salary under this
Section 3.1 has terminated may again elect to defer a portion of his Basic Salary only pursuant to, and only if permitted by, the provisions of Section 3.1.1 above. 

        3.1.4 For
purposes of the Plan, "Basic Salary" means the basic salary payable to a Key Employee by a Company. 

        3.2    Election of Deferrals of Cash and Share Awards.    

        3.2.1 Subject
to such rules as the Committee may prescribe, a Key Employee for a calendar year that begins on or after the Effective Amendment Date may, by completing a
deferral form provided by the Committee and filing such form with the Committee prior to or by January 15 of such calendar year, elect to defer any whole percent (up to 100%) or any whole
dollar amount (not less than $1,000) of any Cash Award, and/or elect to defer any whole percent (up to 100%) of any Share Award, that is otherwise payable to him both after such January 15 and
at least 30 days after he has filed such deferral form with the Committee (or that is otherwise payable to him for any specific period that he designates in such deferral form and that occurs
both after such January 15 and at least 30 days after he has filed such deferral form with the Committee). Such election shall remain in effect until a change or termination of such
election becomes effective under the other provisions of this Plan. 

        3.2.2 Subject
to such rules as the Committee may prescribe, a Participant who has an election to defer a portion of his Cash Awards and/or Share Awards under this
Section 3.2 in effect may change the percentage or amount of his deferral election from one permissible percentage or amount (as determined under the provisions of Section 3.2.1 above)
to another by completing and signing a new deferral form provided by the Committee and filing such form with the Committee. Such a change shall be effective with respect to his Cash Awards and/or
Share Awards, as appropriate, that are otherwise payable to him both after the first January 15 that occurs on or after the date on which he has filed such deferral form with the Committee and
at least 30 days after such filing date (or that is otherwise payable to him for any specific period that he designates in such deferral form and that occurs both after the first
January 15 that occurs on or after the date on which he has filed such deferral form with the Committee and at least 30 days after such filing date). 

        3.2.3 Subject
to such rules as the Committee may prescribe, a Participant who has an election to defer a portion of his Cash Awards and/or Share Awards under this
Section 3.2 in effect may terminate such election by completing and signing a termination form provided by the Committee and filing such form with the Committee. Such a termination shall be
effective with respect to his Cash Awards and/or Share Awards, as appropriate, that are payable to him both after the first January 15 that occurs on or after the date on which he has filed
such termination form with the Committee and at least 30 days after such filing date (or that is otherwise payable to him beginning as of any specific date that he designates in such
termination form and that occurs after the first January 15 that occurs on or after the date on which he has filed such termination form with the Committee and at least 30 days after
such filing date). In addition, a Participant who has 

3

 

an
election to defer a portion of his Cash Awards and/or Share Awards under this Section 3.2 in effect shall have such election terminate automatically with respect to his Cash Awards and Share
Awards that are payable to him either after he no longer is an Employee or after the start of any calendar year for which he no longer qualifies as a Key Employee. A Participant whose election to
defer a portion of his Cash Awards and/or Share Awards under this Section 3.2 has terminated may again elect to defer a portion of his Cash Awards and/or Share Awards only pursuant to, and only
if permitted by, the provisions of Section 3.2.1 above. 

        3.2.4 For
purposes of the Plan, a "Cash Award" means an award or bonus payable in cash to a Key Employee by a Company, including a cash award under Broadwing's 1988 Long
Term Incentive Plan, 1997 Long Term Incentive Plan, or Short Term Incentive Plan. In addition, for purposes of the Plan, a "Share Award" means an award under Broadwing's 1988 Long Term Incentive Plan
or 1997 Long Term Incentive Plan which is payable in the form of Broadwing Shares, provided that stock option awards and awards of restricted stock shall not be considered "Share Awards" for purposes
of the Plan. 

        3.3    Election of Deferrals of Restricted Stock Awards.    Subject to such rules as the Committee may prescribe, a
Key Employee for a calendar year that begins on or after the Effective Amendment Date who has received a Restricted Stock Award may elect to surrender any of the restricted Broadwing Shares that
relate to such award as of any date during such calendar year that is permitted by the Committee (but not later than six months prior to the date on which the restrictions otherwise applicable to such
shares would lapse). For purposes of the Plan, a "Restricted Stock Award" means an award of Broadwing Shares under Broadwing's 1988 Long Term Incentive Plan or 1997 Long Term Incentive Plan which is
in the form of restricted stock. 

        3.4    Company Match.    As of each day on which Basic Salary or Cash Award deferrals for any calendar year (for
purposes of this Section 3.4, the "subject calendar year") that begins on or after the Effective Amendment Date are credited, under Section 4.1 below, to the Cash Deferral Account of a
Key Employee (for purposes of this Section 3.4, a "Deferral Date"), there shall also be credited, to such Key Employee's Company Matching Account under Section 4.4 below, an amount
computed in accordance with the provisions of this Section 3.4 (which amount shall be referred to in the Plan as a "Company match"). 

        3.4.1 The
Company match to be credited to such Key Employee's Company Matching Account on any Deferral Date that occurs in the subject calendar year shall be the lesser of:
(a) 662/3% (or such lesser percentage as may be prescribed by the Committee) of the Key Employee's Basic Salary and Cash Awards deferred under this Plan on the Deferral Date; or
(b) 4% (or such lesser percentage as may be prescribed by the Committee) of the sum of (1) the Key Employee's Basic Salary and Cash Awards deferred under this Plan on the Deferral Date
plus (2) the portion, if any, of the Key Employee's Basic Salary and Cash Awards that are payable on the Deferral Date but are not deferred under this Plan and that, combined with the Key
Employee's aggregate Basic Salary and Cash Awards that were payable during the subject calendar year prior to the Deferral Date but were not deferred under this Plan, exceeds the maximum dollar amount
permitted for such year under section 401(a)(17) of the Code. 

        3.4.2 For
purposes of this Section 3.4, the term "Cash Award" shall not include any amounts payable under Broadwing's 1988 Long Term Incentive Plan or 1997 Long Term
Incentive Plan or any other long term incentive plan maintained by a Company, and such amounts shall not be eligible for a Company match under this Section 3.4. 

4

 

SECTION 4  

 MAINTENANCE AND VALUATION OF ACCOUNTS  

        4.1    Cash Deferral Accounts.    

        4.1.1 There
shall be established for each Participant who has elected to defer under the Plan a portion of his Basic Salary or Cash Awards otherwise payable during any
calendar year that begins on or after the Effective Amendment Date a separate Account, called a Cash Deferral Account, which shall reflect the amounts of Basic Salary and Cash Awards deferred by the
Participant under the Plan during such calendar year and the assumed investment thereof. A separate Cash Deferral Account shall be established for the Participant in order to reflect his deferrals of
Basic Salary and Cash Awards for each calendar year that begins on or after the Effective Amendment Date. 

        4.1.2 In
addition, if any amounts were allocated to a Cash Deferral Account of a Participant as of December 31, 2001 under the terms of the Prior Plan as in effect on
such date (reflecting all of the amounts of Basic Salary and Cash Awards deferred by the Participant under the Plan during all calendar years that began prior to the Effective Amendment Date and the
assumed investment thereof to December 31, 2001), then another Cash Deferral Account shall be maintained for the Participant under the Plan in order to reflect the amount allocated to such
account as of December 31, 2001 and the assumed investment thereof after such date. 

        4.1.3 Subject
to such rules as the Committee may prescribe, any amount of Basic Salary or a Cash Award deferred by a Participant under the Plan shall be credited to the
appropriate Cash Deferral Account of the Participant as of the day on which such deferred amount would have otherwise been paid to the Participant. Any amounts credited to a Cash Deferral Account of
the Participant shall be assumed to have been invested in the investments designated by the Participant on a form provided by and filed with the Committee (which designated assumed investments must be
ones that are permitted by the Committee as assumed investments for purposes of this Plan). 

        4.2    Share Deferral Accounts.    

        4.2.1 There
shall be established for each Participant who has elected to defer under the Plan all or a portion of his Share Awards otherwise payable during any calendar year
that begins on or after the Effective Amendment Date a separate Account, called a Share Deferral Account, which shall reflect the amounts of Share Awards deferred by the Participant under the Plan
during such calendar year and the assumed investment thereof. A separate Share Deferral Account shall be established for the Participant in order to reflect his deferrals of Share Awards for each
calendar year that begins on or after the Effective Amendment Date. 

        4.2.2 In
addition, if any amounts were allocated to a Share Deferral Account of a Participant as of December 31, 2001 under the terms of the Prior Plan as in effect
on such date (reflecting all of the amounts of Share Awards deferred by the Participant under the Plan during all calendar years that began prior to the Effective Amendment Date and the assumed
investment thereof to December 31, 2001), then another Share Deferral Account shall be maintained for the Participant under the Plan in order to reflect the amount allocated to such account as
of December 31, 2001 and the assumed investment thereof after such date. 

        4.2.3 Subject
to such rules as the Committee may prescribe, any amount of a Share Award deferred by the Participant under the Plan shall be credited to the appropriate Share
Deferral Account of the Participant as of the day on which such deferred amount would have otherwise been paid to the Participant. Any amounts credited to a Share Deferral Account of the Participant
shall be assumed to have been invested exclusively in Broadwing Shares. 

5

 

        4.3    Restricted Stock Accounts.    

        4.3.1 There
shall be established for each Participant who has elected to surrender all or a portion of his Restricted Stock Awards under the Plan during any calendar year
that begins on or after the Effective Amendment Date a separate Account, called a Restricted Stock Account, which shall reflect the value of the Broadwing Shares surrendered by the Participant under
the Plan during such calendar year and the assumed investment thereof. A separate Restricted Stock Account shall be established for the Participant in order to reflect his surrender of Restricted
Stock Awards under the Plan for each calendar year that begins on or after the Effective Amendment Date. 

        4.3.2 In
addition, if any amounts were allocated to a Restricted Stock Account of a Participant as of December 31, 2001 under the terms of the Prior Plan as in effect
on such date (reflecting the value of the Broadwing Shares surrendered by the Participant under the Plan during all calendar years that began prior to the Effective Amendment Date and the assumed
investment thereof to December 31, 2001), then another Restricted Stock Account shall be maintained for the Participant under the Plan in order to reflect the amount allocated to such account
as of December 31, 2001 and the assumed investment thereof after such date. 

        4.3.3 Subject
to such rules as the Committee may prescribe, an amount equal to the value of any Broadwing Shares surrendered by a Participant under the Plan shall be
credited to the appropriate Restricted Stock Account of the Participant as of the day on which the Broadwing Shares are surrendered to Broadwing. Any amount credited to a Restricted Stock Account of
the Participant shall be assumed to have been invested exclusively in Broadwing Shares until six months after the Applicable Lapse Date for the surrendered Broadwing Shares that relate to such amount
and thereafter to have been invested in the investments designated by the Participant on a form provided by and filed with the Committee (which designated assumed investments must be ones that are
permitted by the Committee as assumed investments for purposes of this Plan). 

        4.3.4 For
purposes of the Plan, "Applicable Lapse Date" means, with respect to any Restricted Stock Award, the date on which the restrictions would have lapsed if the
applicable restricted Broadwing Shares had not been surrendered. 

        4.4    Company Matching Accounts.    

        4.4.1 There
shall be established for each Participant who is entitled to a Company match under the Plan during any calendar year that begins on or after the Effective
Amendment Date a separate Account, called a Company Matching Account, which shall reflect the Company match amounts credited on behalf of the Participant under the Plan during such calendar year and
the assumed investment thereof. A separate Company Matching Account shall be established for the Participant in order to reflect his
Company match amounts for each calendar year that begins on or after the Effective Amendment Date. 

        4.4.2 In
addition, if any amounts were allocated to a Company Matching Account of a Participant as of December 31, 2001 under the terms of the Prior Plan as in effect
on such date (reflecting all of the amounts of Company match credited on behalf of the Participant under the Plan during all calendar years that began prior to the Effective Amendment Date and the
assumed investment thereof to December 31, 2001), then another Company Matching Account shall be maintained for the Participant under the Plan in order to reflect the amount allocated to such
account as of December 31, 2001 and the assumed investment thereof after such date. 

        4.4.3 Subject
to such rules as the Committee may prescribe, any amount of Company match made on behalf of a Participant under the Plan shall be credited to the appropriate
Company Matching Account of the Participant as of the day on which the deferred Basic Salary or Cash Award to which the Company match relates would have otherwise been paid to the Participant. 

6

 

Any
amounts credited to a Company Match Account of the Participant shall be assumed to have been invested in the investments designated by the Participant on a form provided by and filed with the
Committee (which designated assumed investments must be ones that are permitted by the Committee as assumed investments for purposes of this Plan). 

        4.5    Nonvested Amounts.    

        4.5.1 In
its discretion, the Committee may condition the right to receive payments with respect to all or a portion of any Company Matching Account established for a
Participant on the Participant's completing a minimum period of service with a Company. If the Committee conditions the right to receive payments with respect to all or a portion of any Company
Matching Account established for a Participant on the Participant's completing a minimum period of service, then, until the Participant satisfies such condition, the amounts allocated to the portion
of such Account that are subject to such condition shall be considered to be "nonvested." 

        4.5.2 In
the case of any Restricted Stock Account established for a Participant, the portion of such Account that is attributable to any amount credited to such Account
under the provisions of Section 4.3 above by reason of the Participant's surrender of Broadwing Shares shall be subject to forfeiture at the same time and to the same extent that the Broadwing
Shares so surrendered would have been forfeited if such Broadwing Shares had not been surrendered. Until such Account portion is no longer subject to forfeiture, the amounts allocated to such Account
portion shall be considered to be "nonvested." The provisions of this Section 4.5.2 shall not apply to amounts credited to the Participant's Restricted Stock Account under Section 4.7.1
below, however. 

        4.5.3 Any
portion of an Account of a Participant that is at any time nonvested under the foregoing provisions of this Section 4.5 shall not in any event, even when
the provisions of Section 5 below would otherwise permit a distribution of such Account portion at such time and notwithstanding any provision of Section 5 below which may be read to the
contrary, be able to be distributed to the Participant or any other party claiming through the Participant until such Account portion is no longer nonvested (and any distribution of such Account
portion otherwise called for under Section 5 below shall to the extent necessary be deferred until such portion is no longer nonvested). Consistent with the rule set forth in the immediately
preceding sentence and notwithstanding any other provision of Section 5 below, any reference in any provision of Section 5 below to the amounts allocated to any Account or portion of an
Account of a Participant at any time shall be deemed not to include the amounts allocated to any part of such Account or Account portion that are then nonvested and such part shall be treated as if it
were a separate class of Account until such amounts are no longer nonvested. Further, if the Participant ceases to be an Employee (other than by reason of his death) when any portion of an Account
established for him is nonvested, he shall never be entitled to receive the amounts allocated to such Account portion and such amounts shall be forfeited on the date he so ceases to be an Employee. 

        4.6    Valuation.    Each Account of a Participant shall be credited or charged periodically (under procedures adopted
by the Committee) to reflect all amounts credited to the Account under the foregoing provisions of this Section 4 since the latest preceding date on which the Account was credited or charged,
any gains and losses in the value of the Account's assumed investments since the latest date on which the Account was credited or charged, and any payments or forfeitures since the latest preceding
date on which the Account was credited or charged. As soon as practical following the end of each calendar year, each Participant, or, in the event of his death, his Beneficiary, shall be furnished a
statement as of December 31 of such calendar year showing the balance of the Participant's Accounts, the total credits and charges to such Accounts during such calendar year, and, if amounts
credited to any such Accounts are assumed to have been invested in securities, a description of such securities including the number of shares assumed to have been purchased by the amounts credited to
such Accounts. 

7

 

        4.7    Broadwing Shares.    To the extent a Participant's Accounts are assumed to have been invested in Broadwing
Shares: 

        4.7.1 Whenever
any cash dividends are paid with respect to Broadwing Shares, additional amounts shall be credited to the Participant's Accounts as of the dividend payment
date. The additional amount to be credited to each Account shall be determined by multiplying the per share cash dividend paid with respect to the Broadwing Shares on the dividend payment date by the
number of assumed Broadwing Shares credited to the Account on the day preceding the dividend payment date. Such additional amount credited to the Participant's Accounts shall be assumed to have been
invested in additional Broadwing Shares on the day on which such dividends are paid. 

        4.7.2 If
there is any change in Broadwing Shares through the declaration of a stock dividend or a stock split or through a recapitalization resulting in a stock split, or a
combination or a change in shares, the number of shares assumed to have been purchased for each Account shall be appropriately adjusted. 

        4.7.3 Whenever
Broadwing Shares are to be valued for purposes of the Plan as of any date (such as a date on which distribution of such shares is to be made by a Company),
the value of each such share shall be the average of the high and low price per share as reported on the New York Stock Exchange on the last business day preceding the subject date for which the
valuation is being made (or, if no sales of Broadwing Shares were made on such Exchange on that last preceding business day, on the next preceding business day on which sales of Broadwing Shares were
made on such Exchange). 

        4.8    Convergys Shares.    Effective on or about December 31, 1998, Broadwing distributed to its shareholders
one common share of Convergys Corporation (for purposes of this Section 4.8, a "Convergys Share") for each Broadwing Share owned by its shareholders on the record date for the distribution.
Upon such distribution, the Accounts of each Participant were credited with an assumed investment in one Convergys Share for each Broadwing Share then assumed to be allocated to the Accounts.
Thereafter, each Participant has had and shall have the option of either retaining such assumed investment in Convergys Shares or converting part or all of such assumed investment into an assumed
investment in additional Broadwing Shares or any other assumed investment permitted under the Plan; provided, however, that any Convergys Shares credited to a Restricted Stock Account shall be subject
to the same restrictions (including restrictions on switching to alternate assumed investments) as apply to the Broadwing Shares credited to that Account to which the Convergys Shares relate. 

        4.9    Deduction of Payments or Forfeitures from Accounts and Cancellation of Accounts.    Any lump sum payment,
annual installment payment, or forfeiture of an amount allocated to a Participant's Accounts under the provisions of the Plan shall be charged, as of the date such payment or forfeiture is deemed to
be made under the other provisions of this Plan, to such Accounts (or, in other words, deducted from the amounts then allocated to such Accounts). Except as is otherwise provided under administrative
policies adopted by the Committee, any such payment or forfeiture shall be charged among all of the Participant's Accounts, and among all of the types of assumed investments applicable to such
Accounts, on a pro rata basis. Further, any Account of a Participant shall be cancelled, and the amount then allocated to such Account shall be reduced to zero, on the date as of which the entire
amount allocated to the Account at such time is deemed to be paid to the Participant (or his Beneficiary under this Plan) and/or forfeited under the other provisions of the Plan. 

        4.10    Account Balances.    For purposes of the Plan, the amount allocated to any Account of a Participant at any
specific time shall be deemed to be the net sum of amounts credited to and charged to such Account at such time under the other provisions of the Plan. 

8

 

SECTION 5  

 DISTRIBUTIONS  

        5.1    General Rules as to Payment of Amounts Credited to Accounts On or After January 1, 2002.    Subject to
the following provisions of this Section 5 and the other provisions of the Plan, this Section 5.1 concerns the payment of amounts allocated to all of the Accounts of a Participant that
are established for any particular calendar year that begins on or after the Effective Amendment Date (for purposes of this Section 5.1, the "subject Accounts"). 

        5.1.1 Subject
to the following provisions of this Section 5, the Participant may, by filing an appropriate form with the Committee prior to the first date any amount
is credited to the subject Accounts, make the following elections with respect to the payment of amounts allocated to the subject Accounts: 

        (a)   The
Participant may elect that the date as which the amounts allocated to the subject Accounts shall commence to be paid (for purposes of this Section 5.1, the
subject Accounts' "commencement date") shall be any one of the following dates (as chosen by the Participant): (1) the date on which the Participant ceases to be an Employee for any reason;
(2) any date specified by the Participant in such election which is no earlier than the sixth annual anniversary of the first day of the later of the calendar year in which the Participant's
election is filed with the Committee or the calendar year for which the subject Accounts are established; or (3) the earlier of the dates described in clauses (1) and (2) above.
In the event the Participant fails, by the first date any amount is credited to the subject Accounts, to make any such election as to the subject Accounts' commencement date, then he shall be deemed
to have elected that such commencement date shall be the March 1 of the first calendar year that begins after the date on which the Participant ceases to be an Employee for any reason. 

        (b)   The
Participant may also elect to receive the amounts allocated to the subject Accounts in any number of annual installments, from one installment payment up to ten
annual installment payments, beginning as of the subject Accounts' commencement date. In the event the Participant fails, by the first date any amount is credited to the subject Accounts, to make any
such election as to the period over which the amounts allocated to the subject Accounts are to be paid, then he shall be deemed to have elected that such amounts shall be paid to the Participant in
two annual installments, with the first installment being made as of the subject Accounts' commencement date. 

        5.1.2 The
Participant may, one time only and by filing an appropriate form with the Committee, elect to change one or both of the initial elections he has made or has deemed
to have made under the foregoing provisions of this Section 5.1 with respect to the commencement date and the number of annual installment payments that apply to the amounts allocated to the
subject Accounts (for purposes of this Section 5.1.2, such commencement date and number of annual installment payments shall be
referred to as the "initial commencement date" and the "initial number of annual installment payments," respectively), provided that (a) any such new election would comply with the provisions
of Section 5.1.1 above other than for the time as of which such election is made, (b) any such new election may not change the initial commencement date to an earlier commencement date
or change the initial number of annual installment payments to a lesser number of annual installment payments, and (c) any such new election shall not become effective unless at least twelve
months elapse from the filing of such election with the Committee to the initial commencement date. 

        5.1.3 Notwithstanding
any of the foregoing provisions of this Section 5.1, in no event shall the subject Accounts' commencement date be later than: (a) the
March 1 of the first calendar year which begins after the date on which the Participant ceases to be an Employee for any reason 

9

 

when
the Participant ceases to be an Employee prior to attaining age 55; or (b) the March 1 of the first calendar year which begins after the later of the date on which the Participant
ceases to be an Employee for any reason or the Participant's 65th birthday when the Participant ceases to be an Employee after attaining age 55. 

        5.2    General Rules as to Payment of Amounts Credited to Accounts Prior To January 1, 2002.    Subject to the
following provisions of this Section 5 and the other provisions of the Plan, this Section 5.2 concerns the payment of amounts allocated to the Accounts of a Participant under the Plan
for all calendar years that began prior to the Effective Amendment Date (for purposes of this Section 5.2, the "subject Accounts"). 

        5.2.1 Subject
to the following provisions of this Section 5, (a) the date as of which the amounts allocated to the subject Accounts shall commence to be paid
(for purposes of this Section 5.2, the subject Accounts' "commencement date") shall be the March 1 of the first calendar year that begins after the date on which the Participant ceases
to be an Employee for any reason and (b) the number of annual installment payments that applies to such amounts shall be based on the latest annual installment election made or deemed made by
the Participant prior to the Effective Amendment Date under the provisions of the Prior Plan (as in effect prior to the Effective Amendment Date). 

        5.2.2 The
Participant may, one time only on or after the Effective Amendment Date and by filing an appropriate form with the Committee, elect to change one or both of the
commencement date and number of annual installment payments that apply immediately prior to the Effective Amendment Date to the amounts allocated to the subject Accounts (for purposes of this
Section 5.2.2, such commencement date and number of annual installment payments shall be referred to as the "initial commencement date" and the "initial number of annual installment payments,"
respectively), provided that (a) any such new election would comply with the provisions of Section 5.1.1 above other than for the time as of which such election is made (and as if
Section 5.1.1 above had applied to amounts allocated to the subject Accounts), (b) any such new election may not change the initial commencement date to an earlier commencement date or
change the initial number of annual installment payments to a lesser number of annual installment payments, and (c) any such new election shall not become
effective unless at least twelve months elapse from the filing of such election with the Committee to the initial commencement date. 

        5.2.3 Notwithstanding
any of the foregoing provisions of this Section 5.2, in no event shall the subject Accounts' commencement date be later than: (a) the
March 1 of the first calendar year which begins after the date on which the Participant ceases to be an Employee for any reason when the Participant ceases to be an Employee prior to attaining
age 55; or (b) the March 1 of the first calendar year which begins after the later of the date on which the Participant ceases to be an Employee for any reason or the Participant's 65th
birthday when the Participant ceases to be an Employee after attaining age 55. 

        5.3    Annual Installment Rules.    Subject to the following provisions of this Section 5.3 but notwithstanding
any other provision of the Plan, when the amounts allocated to a Participant's Accounts established for any calendar year that begins on or after the Effective Amendment Date or for the calendar years
that began prior to such date (for purposes of this Section 5.3, the "subject Accounts") are to be paid in one or more (up to ten) annual installments which commence to be paid as of a date
that occurs on or after the Effective Amendment Date, then the amount of each annual installment of such amounts shall be, as elected by the Participant when he elects the number of annual
installments over which such amounts are to be paid (and as part of his election of the number of such installments), either (a) a specific dollar amount specified by the Participant (not less
than $5,000 or more than $1,000,000) or (b) a fraction of the amounts allocated to the subject Accounts as of the installment payment date, the numerator of which is 1 and the denominator of
which is equal to the 

10

 

total
number of installments remaining to be paid under the subject Accounts (including the installment to be paid on the subject installment payment date). 

        5.3.1 If
the Participant fails to make the election described in the foregoing provisions of this Section 5.3 as to the amounts allocated to the subject Accounts,
then the Participant shall be deemed to have elected that the amount of each annual installment of such amounts shall be the amount described in clause (b) of the first sentence of this
Section 5.3. 

        5.3.2 Notwithstanding
any of the foregoing provisions of this Section 5, the following provisions shall apply in determining the number of annual installment payments
over which the amounts allocated to the subject Accounts are to be paid and the amount of each such annual installment payment: 

        (a)   If
the Participant elects that the amount of each annual installment of the amounts allocated to the subject Accounts shall be a fixed dollar amount of less than
$1,000,000 but the Committee determines at any time (based on assumptions that the Committee makes as to the assumed future earning that may be allocated to the subject Accounts) that annual
installments of such fixed dollar amount will not cause all of the amounts allocated to the subject Accounts to be paid within the number of installment payments over which such amounts are to be paid
pursuant to the election (or deemed election) of the
Participant under the Plan, then the Committee shall increase the amount of each annual installment still to be paid of such amounts (up to but not in excess of $1,000,000) to the extent the Committee
determines necessary to cause all of the amounts allocated to the subject Accounts to be paid within the number of installment payments over which such amounts are to be paid pursuant to the election
(or deemed election) of the Participant under the Plan. 

        (b)   If
the amount of any annual installment of the amounts allocated to the subject Accounts would otherwise be less than $5,000 or more than $1,000,000, it shall be
increased to $5,000 or reduced to $1,000,000, as the case may be; provided that, if the remaining amount that would be allocated to the subject Accounts immediately after the annual installment
payment is made would otherwise be less than $5,000, then the amount of the installment payment shall be increased to the extent necessary to cancel the subject Accounts. 

        (c)   If
the amounts allocated to the subject Accounts are not reduced to zero immediately after the final annual installment payment of such amounts that was scheduled to be
made pursuant to the foregoing provisions of this Section 5, then annual installment payments of such amounts shall continue until the subject Accounts can be cancelled, with the amount of each
such later annual installment payment being equal to the lesser of $1,000,000 or the remaining amounts then allocated to the subject Accounts. 

        5.3.3 The
date as of which any annual installment payment other than the first annual installment payment applicable to the subject Accounts is to be made shall be an annual
anniversary of the date as of which the first annual installment is made. 

        5.3.4 With
the consent of the Committee, and subject to such administrative rules as the Committee may prescribe, a Participant may elect to have the amounts allocated to
the subject Accounts that are otherwise to be paid to the Participant under the other provisions of this Section 5 in annual installments actually to be paid in monthly installments. 

        5.4    Special In-Service Distributions.    

        5.4.1 Notwithstanding
any other provision of the Plan, a Participant may, by filing an appropriate form with the Committee on or after the Effective Amendment Date, elect to
have any portion of the amounts then allocated to his Accounts under the Plan distributed to him as of any date (for purposes of this Section 5.4.1, the "payment date") that occurs after such
election is 

11

 

filed
with the Committee because of a hardship he has incurred, even if the payment date precedes the date as of which such portion of his Accounts would otherwise be paid under the foregoing
provisions of this Section 5. Any distribution requested under this Section 5.4.2 because of a hardship shall be granted by the Committee if, and only if, the Committee determines that
the requested hardship distribution meets all of the requirements set forth in the following provisions of this Section 5.4.1. 

        (a)   Any
distribution which is requested by a Participant under this Section 5.4.1 because of a hardship must be requested by the Participant and certified by him to
be on account of the Participant's severe financial hardship resulting from extraordinary and unforeseeable circumstances beyond the control of the Participant. Written documentation of the reason for
requesting the distribution shall be required. Whether a distribution is requested on account of the Participant's severe financial hardship resulting from extraordinary and unforeseeable
circumstances beyond the control of the Participant shall be determined by the Committee on the basis of all facts and circumstances. 

        (b)   Any
distribution which is requested by a Participant under this Section 5.4.1 because of hardship must also be necessary to satisfy the need for the distribution.
A distribution shall be deemed necessary to satisfy such need if, and only if, all of the following conditions are met: 

        (1)   The
Participant certifies and provides written evidence that the distribution is not in excess of the amount of the financial need of the Participant which has caused
the Participant to request the distribution. The amount of financial need of the Participant may include an amount permitted by the Committee to cover federal, state, local, or foreign taxes which can
reasonably be anticipated to result to the Participant from the distribution; 

        (2)   The
Participant has obtained or is obtaining by the date of the distribution all withdrawals (other than hardship withdrawals) and all nontaxable (at the time of the
loans) loans then available under all other plans of deferred compensation (including plans qualified under section 401(a) of the Code) maintained by the Company; 

        (3)   The
Participant certifies and irrevocably agrees that he (A) shall not defer any portion of his Basic Salary, Cash Awards, or Share Awards, or surrender any
restricted Broadwing Shares that relate to his Restricted Stock Awards, for a period of twelve months beginning on the day immediately after the day on which he receives the distribution he elects
under the provisions of this Section 5.4.1 (and any deferral or surrender elections then in effect for him under the Plan shall be deemed to be terminated for purposes of the provisions of
Section 3 above for such twelve month period) and (B) shall not make
employee contributions or have contributions made by reason of his election pursuant to an arrangement described in section 401(k) of the Code under this Plan or any other plans of deferred
compensation (including plans qualified under section 401(a) of the Code and stock option or stock purchase plans) maintained by any Company for at least twelve months after the date of the
distribution (provided the terms of such other plans permit such suspension); and 

        (4)   The
Participant certifies and provides some written evidence (such as a financial statement) that he cannot relieve his need for the distribution through any other
resources. For purposes hereof, the Participant's resources are deemed to include those assets of the Participant's spouse and minor children that are reasonably available to the Participant. 

12

 

        5.4.2 In
addition, notwithstanding any other provision of the Plan, a Participant may, by filing an appropriate form with the Committee on or after the Effective Amendment
Date, elect to have any portion of the amounts then allocated to his Accounts under the Plan distributed to him as of any date (for purposes of this Section 5.4.2, the "payment date") that
occurs after such election is filed with the Committee, even if the payment date precedes the date as of which such portion of his Accounts would otherwise be paid under the foregoing provisions of
this Section 5 and even when the distribution is not being made by reason of a hardship that meets the standards set forth under Section 5.4.1 above, provided that (a) such
distribution does not cause the aggregate value of distributions made to the Participant under the Plan in the twelve consecutive month period that ends on the payment date (including the distribution
made on the payment date) exceed $1,000,000, (b) such election shall require that the Participant forfeit from his Accounts an amount equal to 10% of the amount paid to him as a result of the
election, and (c) such election shall require that the Participant not be permitted to defer any portion of his Basic Salary, Cash Awards, or Share Awards, or surrender any restricted Broadwing
Shares that relate to his Restricted Stock Awards, for a period of twelve months beginning on the day immediately after the day on which he receives the distribution he elects under the provisions of
this Section 5.4.2 (and any deferral or surrender elections then in effect for him under the Plan shall be deemed to be terminated for purposes of the provisions of Section 3 above for
such twelve month period). 

        5.5    Death.    Subject to the other provisions of the Plan, if a Participant ceases to be an Employee by reason of
his death, or if a Participant dies after ceasing to be an Employee but before all of the amounts allocated to his Accounts have been paid, the amounts then allocated to the Participant's Accounts
shall be paid to the Participant's Beneficiary in one lump sum as of the first business day of the third calendar quarter following the date of the Participant's death; provided, however, that if the
Participant has by the time of his death begun to receive the amounts allocated to any of his Accounts in installments, the remaining installments of such amounts shall be paid to the Beneficiary as
they become due. 

        5.6    Cash or Share Form of Payment.    Subject to the other provisions of this Section 5.6, any payment made
under the Plan on or after Effective Amendment Date to a Participant (or a Participant's Beneficiary)
shall be made in cash to the extent it is attributable to amounts allocated to the Participant's Accounts that are assumed to be invested other than in Broadwing Shares. Further, subject to the other
provisions of this Section 5.6, any payment made under the Plan on or after the Effective Amendment Date to a Participant (or a Participant's Beneficiary) shall be made in Broadwing Shares to
the extent it is attributable to amounts allocated to the Participant's Accounts that are assumed to be invested in Broadwing Shares (except that such payment shall be made in cash, and not Broadwing
Shares, to the extent it is attributable to amounts credited to the Participant's Accounts that are assumed to be invested in a fractional, and not a whole, Broadwing Share). 

        5.6.1 For
purposes of this Section 5.6, except as is otherwise provided under administrative policies adopted by the Committee, the portion of any payment made under
the Plan on or after the Effective Amendment Date to the Participant (or the Participant's Beneficiary) that is attributable to amounts credited to the Participant's Accounts that are assumed to be
invested in Broadwing Shares (other than in a fractional Broadwing Share) shall be deemed to be equal to the product obtained by multiplying (a) by (b), where (a) and (b) are as
follows: 

        (a)   equals
the value of the entire amount of the payment (with such value determined as of the date as of which the payment is made); and 

        (b)   equals
a fraction, (1) the numerator of which is the value (on the date as of which the payment is made and determined without regard to the payment) of the
amounts then allocated to the Participant's Accounts that are then both assumed to be invested in a whole number of Broadwing Shares and to which the payment is charged and (2) the denominator
of 

13

 

which
is the value (on the date as of which the payment is made and determined without regard to the payment) of the entire amount that is then allocated to the Participant's Accounts to which the
payment is charged. 

        5.6.2 Any
Broadwing Shares that are paid under the Plan on or after the Effective Amendment Date to the Participant (or the Participant's Beneficiary) pursuant to the
provisions of this Section 5.6 shall be shares that are held in the Company's Treasury at the time of the payment. 

        5.6.3 Subject
to the following provisions of this Section 5.6.3, in connection with the payment of Broadwing Shares to the Participant (or the Participant's
Beneficiary) on or after the Effective Amendment Date, Broadwing shall reimburse the Participant (or the Participant's Beneficiary) for all reasonable commission or similar costs he incurs in selling
all or a part of such shares within the two week period (or such longer or shorter period that is set by the Committee) that begins on the date he receives such shares (or, if later, the date on which
all material impediments of federal securities laws to his sale of such shares has ended), provided proper evidence of the amount of such commission or similar costs and of his payment of them is
furnished by the Participant (or his Beneficiary) to the
Committee. Notwithstanding the foregoing, in lieu of the reimbursements required under the preceding sentence, the Committee may, in its sole discretion, establish, and notify the Participant (or the
Participant's Beneficiary) of, procedures that, through arrangements it develops itself with one or more brokers or through other means, reasonably permit the Participant (or the Participant's
Beneficiary) the ability to sell such Broadwing Shares that he receives, within the two week period (or such longer or shorter period that is set by the Committee) that begins on the date he receives
such shares (or, if later, the date on which all material impediments of federal securities laws to his sale of such shares has ended), without incurring any commission or similar costs with respect
to the sale of such shares, provided he follows the procedures established by the Committee for this purpose. 

        5.7    Change in Control.    Notwithstanding any other provision of the Plan, if a Change in Control of Broadwing
occurs on or after the Effective Amendment Date, each Participant's Accounts shall be paid to him (or, if appropriate, the Participant's Beneficiary) in one lump sum as of the day next following the
date on which such Change in Control occurs; except that any Participant may, prior to the occurrence of any Change in Control, elect that the provisions of this Section 5.7 shall not apply to
his Accounts (in which case the distribution of his Accounts shall be made solely pursuant to the other terms of the Plan and without regard to this Section 5.7). A "Change in Control" means
the occurrence of any one of the following events: 

        5.7.1 A
majority of the Board of Directors of Broadwing as of any date is not composed of Incumbent Directors. For purposes hereof, as of any date, the term "Incumbent
Director" means any individual who is a director of Broadwing as of such date and either (a) who was a director of Broadwing at the beginning of the 24 consecutive month period ending on such
date or (b) who became a director subsequent to the beginning of such 24 consecutive month period and whose appointment, election, or nomination for election was approved by a vote of at least
two-thirds of the directors who were, as of the date of such vote, Incumbent Directors (either by a specific vote or by approval of the proxy statement of Broadwing in which such person is
named as a nominee for director). It is provided, however, that no individual initially appointed, elected, or nominated as a director of Broadwing as a result of an actual or threatened election
contest with respect to directors or as a result of any other actual or threatened solicitation of proxies or consents by or on behalf of any person other than the Board of Directors of Broadwing
shall ever be deemed to be an Incumbent Director; 

        5.7.2 Any
"person" (as such term is defined in section 3(a)(9) of the Securities Exchange Act of 1934 (the "Exchange Act") and as used in sections 13(d)(3) and
14(d)(2) of the Exchange Act) is or becomes a "beneficial owner" (as defined in rule 13d-3 under the Exchange Act), directly or 

14

 

indirectly,
of securities of Broadwing representing 20% or more of the combined voting power of Broadwing's then outstanding securities eligible to vote for the election of the Board of Directors of
Broadwing (for purposes of this Section 5.7, the "Company Voting Securities"); provided, however, that the event described in this Section 5.7.2 shall not be deemed to be a Change in
Control if such event results from any of the following: (a) the acquisition of any Company Voting Securities by Broadwing or any of its subsidiaries, (b) the acquisition of any Company
Voting Securities by any employee benefit plan (or related trust) sponsored or maintained by Broadwing or any of its subsidiaries, (c) the acquisition of any Company Voting Securities by any
underwriter temporarily holding securities pursuant to an offering of such securities, or (d) a Non-Qualifying Transaction (as defined in Section 5.7.3 below); 

        5.7.3 The
consummation of a merger, consolidation, statutory share exchange, or similar form of corporate transaction involving Broadwing or any of its subsidiaries (for
purposes of this Section 5.7, a "Reorganization") or sale or other disposition of all or substantially all of the assets of Broadwing to an entity that is not an affiliate of Broadwing (for
purposes of this Section 5.7, a "Sale"), that in each case requires the approval of Broadwing's stockholders under the law of Broadwing's jurisdiction of organization, whether for such
Reorganization or Sale (or the issuance of securities of Broadwing in such Reorganization or Sale), unless immediately following such Reorganization or Sale: (a) more than 60% of the total
voting power (in respect of the election of directors, or similar officials in the case of an entity other than a corporation) of (1) the entity resulting from such Reorganization or the entity
which has acquired all or substantially all of the assets of Broadwing (for purposes of this Section 5.7 and in either case, the "Surviving Entity"), or (2) if applicable, the ultimate
parent entity that directly or indirectly has beneficial ownership of more than 50% of the total voting power (in respect of the election of directors, or similar officials in the case of an entity
other than a corporation) of the Surviving Entity (for purposes of this Section 5.7, the "Parent Entity"), is represented by Company Voting Securities that were outstanding immediately prior to
such Reorganization or Sale (or, if applicable, is represented by shares in which such Company Voting Securities were converted pursuant to such Reorganization or Sale), and such voting power among
the holders thereof is in substantially the same proportion as the voting power of such Company Voting Securities among the holders thereof immediately prior to the Reorganization or Sale,
(b) no person (other than any employee benefit plan (or related trust) sponsored or maintained by the Surviving Entity or the Parent Entity) is or becomes the beneficial owner, directly or
indirectly, of 20% or more of the total voting power (in respect of the election of directors, or similar officials in the case of an entity other than a corporation) of the outstanding voting
securities of the Parent Entity (or, if there is no Parent Entity, the Surviving Entity), and (c) at least a majority of the members of the board of directors (or similar officials in the case
of an entity other than a corporation) of the Parent Entity (or, if there is no Parent Entity, the Surviving Entity) following the consummation of the Reorganization or Sale were, at the time of the
approval by the Board of Directors of Broadwing of the execution of the initial agreement providing for such Reorganization or Sale, Incumbent Directors (any Reorganization or Sale which satisfies all
of the criteria specified in clauses (a), (b), and (c) of this Section 5.7.3 being deemed to be a "Non-Qualifying Transaction" for purposes of this Section 5.7); or 

        5.7.4 The
shareholders of Broadwing approve a plan of complete liquidation or dissolution of Broadwing. 

Notwithstanding
the foregoing, a Change in Control of Broadwing shall not be deemed to occur solely because any person acquires beneficial ownership of more than 20% of the Company Voting Securities
as a result of the acquisition of Company Voting Securities by Broadwing which reduces the number of Company Voting Securities outstanding; provided that, if after such acquisition by Broadwing such
person becomes the beneficial owner of additional Company Voting Securities that increases the 

15

 

percentage
of outstanding Company Voting Securities beneficially owned by such person, a Change in Control of Broadwing shall then occur. 

        5.8    Commencement or Payment Date.    The other provisions of this Section 5 provide that any payment that is
made under the Plan shall occur "as of" a specific date and sometimes be referred to as a "payment date" or, when the payment is the first installment payment being made to a Participant, a
"commencement date." However, while for Plan purposes such payment will be treated as if it is paid as of such date, the actual payment may be made within a reasonable period after such date to the
extent required administratively. 

        5.9    Company To Make Payment.    Unless the Committee otherwise provides, any payment with respect to a
Participant's Accounts shall be made by the Company which last employs the Participant as a Key Employee prior to the payment. 

        5.10    Plan Applies to Distributions Made On or After January 1, 2002.    Except as is otherwise specifically
provided in this Plan and notwithstanding any other provision of the Plan which may be read to the contrary, the provisions of this Plan only apply to amounts which have not begun to be paid prior to
the Effective Amendment Date pursuant to the provisions of the Prior Plan. The payment of any amounts under the Plan that commence to be paid prior to the Effective Amendment Date shall be determined
solely by the provisions of the Prior Plan in effect at the time such amounts commenced to be paid. 

        5.11    Facility of Payment.    Any amounts payable hereunder to any person who is under legal disability or who, in
the judgment of the Committee, is unable to properly manage the person's financial affairs may be paid to the legal representative of such person or may be applied for the benefit of such person in
any manner which the Committee may select, and any such payment shall be deemed to be payment for such person's account and shall be a complete discharge of all liability of the applicable Company
with respect to the amount so paid. 

SECTION 6  

 ADMINISTRATION OF THE PLAN  

        6.1    General.    The general administration of the Plan and the responsibility for carrying out its provisions shall
be placed in the Committee. 

        6.2    Expenses.    Expenses of administering the Plan shall be shared by each Company participating in this Plan in
such proportions as may be determined by Broadwing. 

        6.3    Compensation of Committee.    The members of the Committee shall not receive compensation for their services as
such, and, except as required by law, no bond or other security need be required of them in such capacity in any jurisdiction. 

        6.4    Rules of Plan.    Subject to the limitations of the Plan, the Committee may, from time to time, establish rules
for the administration of the Plan and the transaction of its business, including but not limited to (a) the determination of the investment options in which Participants can elect to have a
portion of their Accounts assumed to be invested under the provisions of the Plan and (b) procedures by which Participants can file claims as to disputes they may have with actions taken or not
taken under the Plan and can appeal any denial of such claims. The Committee may correct errors, however arising, and, as far as possible, adjust any benefit payments accordingly. The determination of
the Committee as to the interpretation of the provisions of the Plan or any disputed question shall be conclusive upon all interested parties. 

        6.5    Agents and Employees.    The Committee may authorize one or more agents to execute or deliver any instrument.
The Committee may appoint or employ such agents, counsel (including counsel of any Company), auditors (including auditors of any Company), physicians, clerical help, and actuaries 

16

 

as
in the Committee's judgment may seem reasonable or necessary for the proper administration of the Plan. 

        6.6    Indemnification.    Each Company participating in the Plan shall indemnify each member of the Committee for all
expenses and liabilities (including reasonable attorney's fees) arising out of the administration of the Plan, other than any expenses or liabilities resulting from the member's own gross negligence
or willful misconduct. The foregoing right of indemnification shall be in addition to any other rights to which the members of the Committee may be entitled as a matter of law. 

SECTION 7  

 FUNDING OBLIGATION  

        No Company shall have any obligation to fund, either by the purchase of Broadwing Shares or the investment in any account or by any other means, its obligations
to Participants and their Beneficiaries hereunder. If, however, a Company does elect to allocate assets to provide for any such obligation, the assets allocated for such purpose shall in any event
remain subject to the claims of the Company's general creditors in the event the Company becomes or is insolvent until they are paid to Participants and their Beneficiaries in accordance with the
other provisions of this Plan. For purposes hereof, a Company shall be considered "insolvent" if the Company is unable to pay its debts as they become due or if the Company is subject to a pending
proceeding as a debtor under the United States Bankruptcy Code. 

SECTION 8  

 AMENDMENT AND TERMINATION  

        The Committee (acting as a representative of Broadwing and not in its capacity as the party that administers the Plan) or the Board of Directors of Broadwing (or
such Board's Executive Committee) may, without the consent of any Participant or Beneficiary, amend or terminate the Plan at any time; provided that no amendment shall be made or act of termination
taken which divests any Participant of the right to receive payments under the Plan with respect to amounts theretofore credited to the Participant's Accounts. 

SECTION 9  

 NON-ALIENATION OF BENEFITS  

        Except as is otherwise required by applicable law, no Participant or Beneficiary shall alienate, commute, anticipate, assign, pledge, encumber, or dispose of the
right to receive the payments required to be made by any Company hereunder, which payments and the right to receive them are expressly declared to be nonassignable and nontransferable. In the event of
any attempt to assign or transfer any such payment or the right to receive them, no Company shall have any further obligation to make any payments otherwise required of it hereunder. 

SECTION 10  

 MISCELLANEOUS  

        10.1    Delegation.    The Committee may delegate to any Company, person, or committee any of its rights and duties
hereunder. Any such delegation shall be valid and binding on all persons, and the person or committee to whom or which authority is delegated shall have full power to act in all matters so delegated
until the authority expires by its terms or is revoked by the Committee, as the case may be. 

17

 

        10.2    Applicable Law.    The Plan shall be governed by applicable federal law and, to the extent not preempted by
applicable federal law, the laws of the State of Ohio. 

        10.3    Separability of Provisions.    If any provision of the Plan is held invalid or unenforceable, such invalidity
or unenforceabilty shall not affect any other provisions hereof, and the Plan shall be construed and enforced as if such provision had not been included. 

        10.4    Headings.    Headings used throughout the Plan are for convenience only and shall not be given legal
significance. 

        10.5    Counterparts.    The Plan may be executed in any number of counterparts, each of which shall be deemed an
original. All counterparts shall constitute one and the same instrument, which shall be sufficiently evidenced by any one thereof. 

        10.6    Withholding Taxes.    Each Company shall have, with respect to any Participant, the right (without notice to
the Participant) to withhold from any amounts otherwise payable to the Participant (or his Beneficiary) by the Company or any Company benefits otherwise deferred by the Participant (or his
Beneficiary), including but not limited to any amounts to be paid or deferred under this Plan, an amount which the Company determines is sufficient to satisfy all federal, state, and local withholding
tax requirements that may apply with respect to any Company amount payable to or deferred under this Plan by the Participant (or his Beneficiary). 

        10.7    No Right To Employment.    This Plan shall not create any rights of future employment or future participation
therein for any employee, and the existence of this Plan and any benefit provided under or in connection with this Plan shall not affect the right of a Company to discharge any employee of it. 

        IN
WITNESS WHEREOF, Broadwing Inc. has caused its name to be subscribed hereto on this      day
of                        , 2001. 

	 	 	BROADWING INC.
	

 	
 	

By:	
 	

 
	 	 	 	 	

	 	 	Title	 	 
	 	 	 	 	

18

QuickLinks

BROADWING INC. EXECUTIVE DEFERRED COMPENSATION PLAN (As amended and restated effective January 1, 2002)QuickLinks
 -- Click here to rapidly navigate through this document
  

Exhibit (10)(iii)(A)(6)  

 
 

BROADWING INC.
  1997 STOCK OPTION PLAN
  FOR NON-EMPLOYEE DIRECTORS
  (As revised and restated effective January 1, 2001)    

        1.    Purpose.    

        The
1997 Stock Option Plan for Non-Employee Directors (the "Plan") is intended to attract and retain the services of experienced and knowledgeable independent directors of
the Company for the benefit of the Company and its shareholders and to provide additional incentive for such directors to continue to work for the best interest of the Company and its shareholders.
For purposes of the Plan, the term "Company" means Broadwing Inc. (or, for any period prior to April 20, 2000, Cincinnati Bell Inc.). 

        This
document amends and restates the Plan that was named the Cincinnati Bell Inc. 1997 Stock Option Plan for Non-Employee Directors and all predecessor versions of
such plan (the "Predecessor Plan") effective as of January 1, 2001 (the "Effective Amendment Date"). For all purposes hereof, any reference to the Plan contained herein refers to the Plan both
as amended and restated by this document and to the Predecessor Plan as it was in effect prior to the Effective Amendment Date unless otherwise expressly noted. 

        2.    Shares Subject to the Plan.    

        As
of the Effective Amendment Date, there are reserved for issuance upon the exercise of options granted under the
Plan                        common shares of the Company, $0.01 par value (the
"Common Shares"). Such Common Shares may be authorized and unissued Common Shares or previously outstanding Common Shares then held in the Company's treasury. If any option granted under the Plan
(including options granted prior to the Effective Amendment Date) shall expire or terminate for any reason without having been exercised in full, the Common Shares subject thereto shall again be
available for the purposes of issuance upon the exercise of options granted under the Plan. 

        3.    Administration.    

        The
Plan shall be administered by the Board of Directors of the Company (the "Board"). Subject to the express provisions of the Plan, the Board shall have authority to interpret the
Plan, to prescribe, amend and rescind rules and regulations relating to it, to determine the terms and provisions of the option grants and agreements (which shall comply with and be subject to the
terms and conditions of the Plan) and to make all other determinations necessary or advisable for the administration of the Plan. The Board's determination of the matters referred to in this
Paragraph 3 shall be conclusive. 

        4.    Eligibility for Option Grants On or After January 1, 2001.    

        (a)   For
purposes of the Plan, an "Outside Director" means a member of the Board who is not an employee of the Company or a subsidiary of the Company. 

        (b)   Each
individual who first becomes an Outside Director on or after the Effective Amendment Date shall automatically be granted an option to purchase 25,000 Common Shares
on the first day of such individual's first term of office as an Outside Director. On the date of each annual meeting of the shareholders of the Company subsequent to the Effective Amendment Date,
each Outside Director who first became an Outside Director prior to such annual meeting and who will continue to serve as an Outside Director after such annual meeting shall automatically be granted
an option to purchase 9,000 Common Shares. 

1

 

        (c)   In
addition to the options granted under the Plan pursuant to Paragraph 4(b), an option to purchase Common Shares shall be granted on the first business day of
each calendar year that begins on or after the Effective Amendment Date to each individual who is then an Outside Director and has elected prior to the start of such calendar year to waive all or a
part of the retainer and other fees that would otherwise be earned by the Outside Director for such calendar year, in accordance with and subject to the following provisions of this
Paragraph 4(c). For purposes of this Paragraph 4(c), a "retainer" means the annual fee established by the Board for serving as a director of the Company and "other fees" mean all fees
established by the Board for attending meetings of the Board or committees of the Board or for serving as a chair of a Board committee, but not including expense reimbursements. 

        (1)   Any
Outside Director may, by written notice filed with the Board (in a form approved by the Board for this purpose) prior to the first day of any calendar year that
begins on or after the Effective Amendment Date and in return for an option granted under the Plan, elect to waive (and thereby to give up all rights to) the receipt of all, or a percentage (in 25%
increments) of all, of the retainer and other fees that are otherwise earned by the Outside Director for such calendar year. 

        (2)   In
the event that an Outside Director waives all or any part of his retainer and other fees for any calendar year that begins on or after the Effective Amendment Date
under Paragraph 4(c)(1), an option to purchase Common Shares shall be granted to the Outside Director under this Paragraph 4(c) on the first business day of such calendar year. The
number of Common Shares that may be purchased under such option shall be established by the Board in its discretion. Subject to its discretion to adopt a different determination method, the Board
shall generally determine the number of Common Shares to be subject to such option based on the quotient produced by dividing (i) the amount of retainer and other fees that the Outside Director
would be anticipated to earn for the subject calendar year but will not because of his election to waive such retainer and other fees by (ii) a reasonable per share value of the option when
granted (to be determined on the basis of both the value of a Common Share at or near the date of the option's grant or an average of such values for a period of time ending at or near such grant date
and a reasonable method used to value the rights provided under the option (such as the valuation method popularly known as the Black-Scholes method)). 

        (d)   Only
stock options that are not incentive stock options (within the meaning of section 422 of the Internal Revenue Code of 1986, as such section is in effect on
the Effective Amendment Date or as it may thereafter be amended or renumbered) shall be granted under the Plan. 

        5.    Terms of Options.    

        This
paragraph 5 contains provisions that apply to any options granted under the Plan on or after the Effective Amendment Date: 

        (a)   The
purchase price of each Common Share under each option granted under the Plan (such option's "option price") shall be 100% of the Fair Market Value of a Common Share
on the date such option is granted. For purposes of the Plan, the "Fair Market Value" of a Common Share shall be deemed to be the average (rounded to the next highest cent in the case of a fraction of
a cent) of the high and low per share sales prices of a Common Share on the New York Stock Exchange on the specified date or, if no Common Shares are traded on such exchange on the specified date, on
the next preceding date on which Common Shares are traded on such exchange; except that, if the Common Shares are not listed on the New York Stock Exchange on the subject date (or, if the subject date
is not a business day of such exchange, on the next preceding business day of such exchange), then the Fair Market Value of a Common Share on the subject date shall be determined by the Board in good
faith pursuant to methods and procedures established by the Board. 

2

 

        (b)   All
options granted under the Plan shall be exercisable in whole or in part on the date of grant. Subject to the provisions of Paragraphs 5(d), 5(e) and 5(f), the term
of each option during which the option may be exercised shall be ten years from the date of grant of the option (the option's "ten-year term"). However, except as provided in Paragraphs
5(d), 5(e) and 5(f), no option granted under the Plan may be exercised at any time unless the holder is then a director of the Company. 

        (c)   Upon
exercise of an option granted under the Plan, the party exercising the option shall pay to the Company the option price that applies to the Common Shares then being
purchased under the option in full in cash (which for purposes of the Plan shall be deemed to include payment in U.S. currency or by personal check, certified check, bank draft, cashier's check or
money order) or, if permitted in the discretion of the Board, by any of the following methods: (i) by delivery to the Company of the lowest number of whole Common Shares owned by the optionee
that have an aggregate Fair Market Value on the date of exercise at least equal to the aggregate option price of the Common Shares then being purchased under the option (with any amount by which such
aggregate Fair Market Value exceeds such aggregate option price to be remitted by the Company to such party), (ii) by having the Company retain the lowest number of the Common Shares then being
purchased under the option that have an aggregate Fair Market Value on the date of exercise at least equal to the aggregate option price of the Common Shares then being purchased under the option
(with any amount by which such aggregate Fair Market Value exceeds such aggregate option price to be remitted by the Company to such party) or (iii) by a combination of a payment in cash and
payment under either or both of such above-described methods. 

        (d)   For
purposes of the Plan, "Retirement" means retirement from the Board either (i) after attaining age 68 or (ii) with the permission of the Board. In the
event that an optionee of an option granted under the Plan shall cease to be a director of the Company because of Retirement, the optionee may exercise the option at any time during the remaining part
of the ten-year term of the option. In the event that the option is not exercised during the ten-year term of the option, it shall expire at (and hence not be exercisable
after) the end of such ten-year term. 

        (e)   In
the event that an optionee of an option granted under the Plan shall cease to be a director of the Company for any reason other than Retirement or death, the optionee
may exercise the option during the six-month period following such termination, but not after the expiration of the option's ten-year term. In the event that the option is not
exercised during the six-month period following termination (or by the expiration of the option's ten-year term if that ends before the end of such six-month
period), it shall expire at (and hence not be exercisable after) the end of such six-month period (or the end of the option's ten-year term if that ends first). 

        (f)    In
the event of the death of an optionee to whom an option has been granted under the Plan while the optionee is a director of the Company, the option may be exercised
by a legatee or legatees of the optionee under the optionee's last will, or by the optionee's personal representative or distributees, at any time during the remaining part of the ten-year
term of the option. In the event that the option is not exercised during the ten-year term of the option, it shall expire at (and hence not be exercisable after) the end of such
ten-year term. 

        In
the event that an optionee ceases to be a director of the Company other than by reason of Retirement and dies during the six-month period following such termination of
service as a director, the option may be exercised by a legatee or legatees of the optionee under the optionee's last will, or by the optionee's personal representatives or distributees, at any time
within a period of one year after the optionee's death, but not after expiration of the ten-year term of the option. In the event the option is not exercised during the
one-year period after the optionee's death (or by the end of the option's ten-year term if that ends before the end of such one-year period), it shall expire at
(and hence not be exercisable after) the end of such one-year period (or the end of the option's ten-year term if that ends first). 

3

 

        In
the event that an optionee dies following Retirement, the option theretofore granted to the optionee may be exercised by the legatee or legatees of the optionee under the optionee's
last will, or by the optionee's personal representatives or distributees, at any time during the remaining part of the ten-year term of the option. In the event that the option is not
exercised during the ten-year term of the option, it shall expire at (and hence not be exercisable after) the end of such ten-year term. 

        (g)   Notwithstanding
any other provision of the Plan, if at any time the Board shall determine, in its discretion, that the registration, qualification, listing or similar
action under any state or federal law or with any governmental agency, regulatory body or stock exchange upon which the Common Shares are traded, or the consent or approval of any governmental agency,
regulatory body or stock exchange, is necessary or desirable as a condition of, or in connection with, the granting of an option under the Plan or the purchase, issue or transfer of Common Shares with
respect to which the option is granted, then such option may not be exercised in whole or in part unless and until the Board has determined to its complete satisfaction either (i) that such
registration, qualification, listing, consent, approval or other action shall have been effected or obtained free of any conditions not acceptable to the Board or (ii) that the optionee of the
option or such other person who exercises the option shall have agreed that the Common Shares may be issued or transferred to him subject to any restrictions that make it unnecessary to effect or
obtain such registration, qualification, listing, consent, approval or other action. 

        (h)   Nothing
in the Plan or in any option granted pursuant to the Plan shall confer on any individual any right to continue as a director of the Company. 

        6.    Transferability and Shareholder Rights of Holders of Options.    

        No
option granted under the Plan shall be transferable otherwise than by will or by the laws of descent and distribution, and an option may be exercised, during the lifetime of an
optionee, only by the optionee of the option. An optionee of an option granted under the Plan (or any other party exercising the option) shall have none of the rights of a shareholder of the Company
until the option has been exercised and the Common Shares subject to the option have been registered in the name of the optionee (or other party) on the transfer books of the Company. Notwithstanding
the foregoing, the Board, in its discretion, may permit transfers of options by gift or otherwise, subject to such terms and conditions as the Board may prescribe. 

        7.    Adjustments upon Changes in Capitalization.    

        Notwithstanding
any other provisions of the Plan, the number and class of shares subject to options granted under the Plan and then outstanding and the option prices of such options
shall be proportionately adjusted in the event of changes in the outstanding Common Shares by reason of stock dividends, stock splits, recapitalizations, mergers, consolidations, combination or
exchanges of shares, split-ups, split-off, spin-offs, liquidations or other similar changes in capitalization, or any distribution to common shareholders other than
cash dividends, and, in the event of any such change in the outstanding Common Shares, the aggregate number and class of shares available under the Plan and the number of shares as to which options
may be granted shall be appropriately adjusted by the Board. 

        8.    Amendment and Termination.    

        Unless
the Plan shall theretofore have been terminated as hereinafter provided, the Plan shall terminate on, and no awards of options shall be made after, the tenth anniversary of the
original effective date of the Plan; provided, however, that the Plan's termination shall have no effect on options granted prior thereto. The Plan may be terminated, modified or amended by the
shareholders of the Company. The Board may also terminate the Plan or modify or amend the Plan in such respects as it shall deem advisable in order to conform to any change in any law or regulation
applicable thereto or in any other respects, provided that no such modification or amendment shall, without the approval of the Company's shareholders, change (i) the total number of Common
Shares as to which options may be granted under the Plan, (ii) the class of persons eligible to receive options under the Plan, 

4

 

(iii) the
manner of determining the option prices of options granted under the Plan, (iv) the period during which options may be granted or exercised under the Plan or (v) the
provisions relating to the administration of the Plan by the Board. 

        9.    Withholding.    

        Upon
the issuance of Common Shares as a result of the exercise of an option granted under the Plan, the Company shall have the right to retain or sell, without notice, a sufficient
number of such Common Shares to cover the amount of any tax required by any government to be withheld or otherwise deducted and paid with respect to such Common Shares being issued, remitting only any
balance to the party exercising the option; provided, however, that such party shall have the right to provide the Company with the funds to enable it to pay such tax. In addition, the Board, in its
discretion, may permit the taxes applicable to the issuance of any Common Shares as a result of the exercise of an option granted under the Plan on or after the Effective Amendment Date to be paid by
the same type of method by which the Board permits the option price for the shares being purchased under the option to be paid. 

        10.    Effectiveness of the Plan.    

        The
Plan became effective originally by virtue of its approval by the vote of the holders of a majority of the outstanding Common Shares at a meeting of the Company's shareholders. 

        11.    Predecessor Plan.    

        As
is noted in Paragraph 1, the Plan amends and restates the Predecessor Plan as in effect immediately prior to the Effective Amendment Date. Any option granted under the
Predecessor Plan which is outstanding on the Effective Amendment Date shall be subject to the terms of the Predecessor Plan as
in effect when such option was granted and the terms of the option itself and will not be affected by the terms of this Plan document to the extent this Plan document indicates that such terms apply
specifically to options granted on or after the Effective Amendment Date. 

        IN
ORDER TO EFFECT THE PROVISIONS OF THIS PLAN DOCUMENT, Broadwing Inc., the sponsor of the Plan, has caused its name to be subscribed to this Plan document this    
day of                        , 2001, to be effective as of January 1, 2001. 

	 	 	BROADWING INC.
	

 	
 	

By:	
 	

 
	 	 	 	 	

	 	 	Title	 	 
	 	 	 	 	

5

QuickLinks

BROADWING INC. 1997 STOCK OPTION PLAN FOR NON-EMPLOYEE DIRECTORS (As revised and restated effective January 1, 2001)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}]]