Document:

Exhibit 10.29

 

EMPLOYMENT AGREEMENT

 

This EMPLOYMENT AGREEMENT, dated as of December 31, 2013 (the “Effective Date”), between InVivo Therapeutics Holdings Corp. (the “Company”), and Steven F. McAllister (the “Executive”).

 

WITNESSETH THAT:

 

WHEREAS, the parties desire to enter into this Agreement pertaining to the employment of the Executive by the Company;

 

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth below, it is hereby covenanted and agreed by the Executive and the Company as follows:

 

1.                                      Performance of Services.  The Executive’s employment with the Company shall be subject to the following:

 

(a)                                 Subject to the terms of this Agreement, the Company hereby agrees to employ the Executive as its interim Chief Financial Officer during the Agreement Term (as defined below).  In addition, the Executive shall serve as interim Chief Financial Officer of InVivo Therapeutics Corporation, the Company’s wholly owned subsidiary.

 

(b)                                 During the Agreement Term, while the Executive is employed by the Company, the Executive shall devote his full time, energies and talents to serving as its interim Chief Financial Officer.

 

(c)                                  The Executive agrees that he shall perform his duties faithfully and efficiently subject to the directions of the Board of Directors of the Company (the “Board”) and the Chief Executive Officer.  The Executive shall not, without his consent, be assigned tasks that would be inconsistent with those of Chief Financial Officer.  The Executive shall report to the Chief Executive Officer and shall have such authority, power, responsibilities and duties as are inherent in his position (and the undertakings applicable to his position) and necessary to carry out his responsibilities and the duties required of him hereunder.

 

(d)                                 Notwithstanding the foregoing provisions of this Section 1, during the Agreement Term, the Executive may devote reasonable time to activities other than those required under this Agreement (“outside activities”), including the supervision of his personal investments, and activities involving professional, charitable, community, educational, religious and similar types of organizations, speaking engagements, membership on the boards of directors of other organizations, and similar types of activities, to the extent that such other activities do not materially inhibit or prohibit the performance of the Executive’s duties under this Agreement, or conflict in any material way with the business of the Company or any subsidiary.  It is understood and agreed by the parties that the Executive’s continued participation in such activities shall not be a breach of this Agreement.

 

(e)                                  The “Agreement Term” shall be the period beginning on the Effective

 

 

Date and ending on April 30, 2014.  The Agreement Term may be extended upon the mutual agreement of the Company, as approved by the Board, and the Executive.  In addition, the Company may choose to convert this agreement from an interim position to a permanent position (“Conversion Right”).  If the Company chooses to exercise its Conversion Right, it will inform Executive on or before April 15, 2014 that it is exercising this option.  Upon exercise of this right, the following changes to this Agreement will automatically occur:

 

(i)                       Executive’s title will automatically change from “Interim Chief Financial Officer” to “Chief Financial Officer”;

 

(ii)                    the Company will grant you 150,000 options to purchase shares of the Company’s Common Stock (the “Option Grant”).  The exercise price and all terms governing the Option Grant will be determined according to the InVivo 2010 Equity Incentive Plan attached hereto as Exhibit A; and

 

(iii)                 all bonus payments made in 2015 and subsequent years will be determined based on the provisions of the bonus plan governing executive bonuses at that time, except that the target bonus will remain at 50% of annual salary.

 

Other than as provided in Section 1(e)(i), (ii) and (iii), all other provisions of this Agreement will remain in full force and effect if the Company chooses to exercise its Conversion Right.

 

2.                                      Compensation.  Subject to the terms of this Agreement, while the Executive is employed by the Company, the Company shall compensate him for his services as follows:

 

(a)                                 Salary.  For services rendered under this Agreement, the Company shall pay the Executive a salary at the annual rate of $260,000, paid in accordance with the Company’s usual payroll practices.  If the Company exercises its Conversion Right, then salary will be reviewed annually and will be adjusted upward (but not downward without the Executive’s consent) no less frequently than annually.

 

(b)                                 Bonus.  At the time of the Executive’s Date of Termination (as defined below), and subject to the Executive’s performance of the specified objectives previously provided to the Executive in writing during the Agreement Term and prior to the Date of Termination, the Executive shall receive a bonus equal to 50% of the total amount of salary due him for the full Agreement Term, except that the Executive shall receive no bonus hereunder in the event of (i) a termination by the Company pursuant to Section 3(c) due to a material breach of this Agreement by the Executive that is not cured by the Executive within 14 days of written notice from the Company to the Executive detailing the breach (an “Uncured Material Breach”)  or (ii) a termination by the Executive pursuant to Section 3(d).  “Date of Termination” means the last day the Executive is employed by the Company pursuant to this Agreement.  Notwithstanding anything herein to the contrary, the bonus, if due under this paragraph, shall be paid no later than May 30, 2014.

 

(c)                                  Other Benefits.  The Executive shall be eligible for all medical, dental and other benefits and fringe benefits, including, without limitation, reasonable vacation time

 

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commensurate with the term of Executive’s employment, to the same extent and on the same terms as those benefits are provided by the Company from time to time to the Company’s other senior management employees.  In addition, during the Agreement Term, the Company shall pay for the Executive’s parking at or near the Company’s headquarters at One Kendall Square, Cambridge, MA.

 

(d)                                 Expense Reimbursement.  The Company will reimburse the Executive for all reasonable travel, entertainment and other expenses incurred or paid by the Executive in connection with, or related to , the performance of his duties, responsibilities or services under this Agreement, provided that such expenses are incurred and accounted for in accordance with the reasonable policies and procedures established by the Company.

 

(e)                                  Indemnification and Insurance.

 

(i)                                     The Company and the Executive, contemporaneously with the execution of this Agreement, shall execute the Company’s standard Indemnification Agreement. The Company agrees, with respect to the Indemnification Agreement, as follows:

 

(A)                 the Executive shall be entitled to the indemnification and advancement provided for in the Indemnification Agreement with respect to any Proceeding (as defined therein) to which he is or was a party or otherwise involved in that arises from, is based on or relates to the Executive’s relationship with the Company prior to the date hereof and his hiring by the Company as contemplated by this Agreement; and that for all purposes the term Corporate Status as used in the Indemnification Agreement shall include such relationship and hiring; and

 

(B)                 notwithstanding the provisions of the Indemnification Agreement, the Company shall advance all Expenses (as defined therein) incurred by or on behalf of the Executive in connection with any Proceeding by reason of the Executive’s Corporate Status (as such term is defined herein and therein) within thirty (30) days after the receipt by the Company of a statement or statements from the Executive requesting such advance or advances from time to time, whether prior to or after final disposition of such Proceedings, which statement or statements shall reasonably evidence the Expenses incurred by the Executive and shall include or be preceded or accompanied by a written undertaking by or on behalf of the Executive to repay any Expenses advanced if it shall ultimately be determined that the Executive is not entitled to be indemnified against such Expenses.

 

(ii)                                  The Company shall maintain directors and officers liability insurance in commercially reasonable amounts (as reasonably determined by the Board), and the Executive shall be covered under such insurance to the same extent as other senior management employees of the Company and the Board.

 

(f)                                   Attorneys’ Fees.  The Company will reimburse the Executive for the reasonable documented attorneys’ fees incurred in connection with the negotiation of this Agreement and any related agreements.

 

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3.                                      Termination.  The Executive’s employment with the Company during the Agreement Term may be terminated by the Company or the Executive without any breach of this Agreement only under the following circumstances: (a) upon the death of the Executive; (b) upon the permanent disability of the Executive if such disability renders the Executive incapable of performing his duties; (c) upon three weeks’ prior written notice by the Company to the Executive; (d) upon three weeks’ prior written notice by the Executive to the Company; or (e) upon the last date of the Agreement Term, provided that the Company has not exercised its Conversion Right.

 

4.                                      Rights Upon Termination.  Upon the Executive’s Date of Termination, the Company shall provide to the Executive the following:

 

(a)                                 The Company will pay the Executive his Accrued Obligations promptly following such termination.  For this purpose, “Accrued Obligations” means (i) the portion of the Executive’s salary as has accrued prior to any termination of his employment with the Company and has not yet been paid, (ii) an amount equal to the value of any accrued unused vacation days, and (iii) the amount of any expenses properly incurred by the Executive on behalf of the Company prior to any such termination and not yet reimbursed pursuant to Section 2(d) hereof.

 

(b)                                 In the event of a termination under Section 3(a), Section 3(b) or Section 3(c) (for any reason other than an Uncured Material Breach by the Executive), the Company shall pay the Executive, in a lump sum cash payment, an amount equal to the Executive’s remaining salary for the full Agreement Term, with such amount being payable no later than 10 days following the Date of Termination.  In the event of a termination under Section 3(c) due to an Uncured Material Breach by the Executive or under Section 3(d), the Executive shall not be entitled to any payment of salary beyond the Date of Termination.  In addition, the Executive shall receive a bonus to the extent set forth in Section 2(b).

 

(c)                                  The Executive and any of his dependents shall be eligible for COBRA continuation coverage (as described in section 4980B of the Internal Revenue Code of 1986, as amended) at the Executive’s own cost to the extent permitted by applicable law.

 

(d)                                 The Company shall provide any other payments or benefits to be provided to the Executive by the Company or a subsidiary pursuant to any employee benefit plans or arrangements established or adopted by the Company or a subsidiary (including, without limitation, any rights to indemnification from the Company (or from a third-party insurer for directors and officers liability coverage) under Section 2(e) or otherwise with respect to any costs, losses, claims, suits, proceedings, damages or liabilities to which the Executive may become subject which arise out of, are based upon or relate to the Executive’s employment by the Company or the Executive’s service as an officer), to the extent such amounts are due from the Company in accordance with the terms of this Agreement or such plans or arrangements.

 

5.                                      Proprietary Information.

 

(a)                                 The Executive agrees that all information, whether or not in writing, of a private, secret or confidential nature concerning the Company’s business, business relationships

 

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or financial affairs (collectively, “Proprietary Information”) is and shall be the exclusive property of the Company.  Without limitation, Proprietary Information shall include inventions, products, processes, methods, techniques, formulas, compositions, compounds, projects, development plans, research data, clinical data, confidential communications with regulatory bodies and other third parties, financial data, personnel data, computer programs, customer and supplier lists, and contacts with or knowledge of customers or prospective customers of the Company.  The Executive will not disclose any Proprietary Information to any person or entity other than employees of the Company with authorization to access the information or use the same for any purposes (other than in the performance of his duties as an employee of the Company) without approval by an officer of the Company, during or after his employment with the Company, unless and until such Proprietary Information has become public knowledge without fault of the Executive or such disclosure is required by law.

 

(b)                                 The Executive agrees that all files, letters, memoranda, reports, records, data, sketches, drawings, laboratory notebooks, program listings, or other written, photographic, electronic, or other tangible material containing Proprietary Information, in any form, whether created by the Executive or others, which shall come into his custody or possession, shall be the exclusive property of the Company and will be used by the Executive only in the performance of his duties for the Company.  All such materials or copies thereof and all tangible property of the Company in the custody or possession of the Executive shall be delivered to the Company, upon the earlier of (i) a request by the Company or (ii) termination of his employment.  After such delivery, the Executive shall not retain any such materials or copies thereof or any such tangible property.

 

(c)                                  The Executive agrees that his obligation not to disclose or to use information and materials of the types set forth in Sections 5(a) and 5(b), and his obligation to return materials and tangible property, set forth in Section 5(b), also extends to such types of information, materials and tangible property of customers of the Company or suppliers to the Company or other third parties, including licensors and licensees, who may have disclosed or entrusted the same to the Company or to the Executive.

 

6.                                      Inventions.

 

(a)                                 The Executive will make full and prompt disclosure to the Company of all inventions, improvements, discoveries, methods, developments, software, and works of authorship, whether patentable or not, which are created, made, conceived or reduced to practice by him, or under his direction, or jointly with others, during his employment by the Company, whether or not during normal working hours or on the premises of the Company (all of which are collectively referred to in this Agreement as “Inventions”).

 

(b)                                 The Executive agrees to assign and does hereby assign to the Company (or any person or entity designated by the Company) all of his right, title and interest in and to all Inventions and related patents, patent applications, trade secrets, copyrights and copyright applications.  However, this Section 2(b) shall not apply to Inventions which are unrelated to the present or planned business or research and development of the Company and which are made and conceived by the Executive outside of normal working hours, outside the Company’s

 

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premises and do not involve use of the Company’s tools, devices, equipment or Proprietary Information.  The Executive understands that, to the extent this Agreement is to be construed in accordance with the laws of any state which precludes a requirement in an employee agreement to assign certain classes of inventions made by an employee, this Section 2(b) shall be interpreted to not apply to any invention which a court rules and/or the Company agrees to fall within such classes.

 

(c)                                  The Executive agrees to cooperate fully with the Company, both during and after his employment with the Company, with respect to the procurement, maintenance and enforcement of patents, trademarks, copyrights and other intellectual property rights (both in the United States and foreign countries) relating to Inventions.  The Executive shall sign all papers, including, without limitation, copyright applications, patent applications, declarations, oaths, formal assignments, assignments of priority rights, and powers of attorney, which the Company may deem necessary or desirable in order to protect its rights and interests in any Invention.  The Executive further agrees that if the Company is unable to secure the signature of the Executive on any such papers with reasonable effort, an executive officer of the Company shall be entitled to execute any such papers as the agent and the attorney-in-fact of the Executive, and the Executive hereby irrevocably designates and appoints each executive officer of the Company as his agent and attorney-in-fact to execute any such papers on his behalf, and to take any and all actions as the Company may deem necessary or desirable in order to protect its rights and interests in any Invention, under the conditions described herein.

 

7.                                      Remedies.  The Executive agrees and acknowledges that his breach of Section 5 or 6 cannot be reasonably or adequately compensated for in money damages alone and would cause irreparable injury to the Company.  Accordingly, the Executive agrees that, with respect to a breach of such Sections, the Company is entitled to, in addition to all other rights and remedies available to the Company at law or in equity, specific performance and immediate injunctive relief, without posting a bond.

 

8.                                      Survival.  The Executive agrees that his obligations under Sections 5 and 6 of this Agreement shall survive the termination of his employment or the Agreement Term, regardless of the reason for such termination.

 

9.                                      Acknowledgement.  The Executive acknowledges and agrees that the Company does not desire him to use any confidential information of any prior employer during his employment hereunder and that the Company will not ask for nor accept any such confidential information.  This acknowledgement shall not reduce or otherwise affect the Executive’s rights to indemnification from the Company.

 

10.                               Severability.  The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement.

 

11.                               Governing Law.  This Agreement shall be governed by and construed and enforced in accordance with the internal laws of the Commonwealth of Massachusetts.  Both parties agree to exclusive venue in the state (Middlesex County) or federal courts located in the

 

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Commonwealth of Massachusetts.

 

12.                               Successors and Assigns.  This Agreement shall be enforceable by the Executive and his heirs, executors, administrators and legal representatives, and by the Company and its successors and assigns.

 

13.                               Entire Agreement.  This Agreement, with the Indemnification Agreement, contains the entire agreement of the parties and supersedes any prior understandings or agreements between the Executive and the Company.  This Agreement may be changed only by an agreement in writing signed by the party against whom enforcement of any waiver, change, modification, extension or discharge is sought.

 

[Remainder of page intentionally left blank]

 

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IN WITNESS WHEREOF, the parties have executed this Employment Agreement as of the Effective Date.

 

	
 
    	
Company
    
	
 
    	
 
    
	
 
    	
InVivo   Therapeutics Holdings Corp.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael J. Astrue
    
	
 
    	
Name:
    	
Michael   J. Astrue
    
	
 
    	
Title:
    	
Interim   Chief Executive Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Executive
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Steven F. McAllister
    
	
 
    	
Steven   F. McAllister
    

 

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  EXHIBIT 10.6    
    

SECOND
AMENDMENT TO CREDIT AGREEMENT 

WIDEOPENWEST
FINANCE, LLC,

as Borrower 

 

CREDIT
SUISSE AG, CAYMAN ISLANDS BRANCH,

as Administrative Agent 

 

J.P.
MORGAN SECURITIES LLC,

as Second Amendment Lead Arranger 

 

SECOND AMENDMENT TO CREDIT AGREEMENT

        This
SECOND AMENDMENT TO CREDIT AGREEMENT (this "Amendment"), dated as of November 27, 2013, is entered into among WIDEOPENWEST
FINANCE, LLC, a Delaware limited liability company (the "Borrower"), the PARENT GUARANTORS (as defined in the Credit Agreement referred to
below), the SUBSIDIARY GUARANTORS (as defined in the Credit Agreement referred to below), certain LENDERS (as defined in the Credit Agreement referred to below) party hereto, CREDIT SUISSE AG, CAYMAN
ISLANDS BRANCH, as administrative agent under the Credit Agreement referred to below (the "Administrative Agent"), amends that certain Credit Agreement,
dated as of July 17, 2012, as amended by the First Amendment to Credit Agreement, dated as of April 1, 2013 (the "Existing Credit
Agreement"; and the Existing Credit Agreement as modified pursuant to this Amendment, the "Credit Agreement"), among the
Borrower, the Parent Guarantors, the Lenders party thereto and the Administrative Agent. 

RECITALS

        WHEREAS,
pursuant to Section 2.19 of the Existing Credit Agreement and other consents received from Required Lenders, the Borrower
will refinance the outstanding Term B-1 Loans (the "Existing Term B-1 Loans") and, in connection therewith, the Lenders of Term B-1 Loans party hereto
(the "Replacement Term B-1 Lenders") will advance an aggregate principal amount of $425,000,000 (the "Replacement Term B-1
Loans"), the proceeds of which will be used to repay outstanding principal of the Existing Term B-1 Loans (such repayment, the "Term B-1 Loan
Refinancing") and for general working capital purposes (it being understood that the Required Lenders have consented to the increase of the aggregate principal amount of
Replacement Term B-1 Loans to $425,000,000); and 

        NOW,
THEREFORE, in consideration of the covenants made hereunder, and other good and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, the
parties hereto hereby agree as follows: 

SECTION 1.    Definitions.    Except as expressly provided herein, capitalized terms used in this Amendment shall have the
meanings set forth for such terms in the Credit Agreement. 

SECTION 2.    Amendments to Existing Credit Agreement.    

        (a)    Amendments to Section 1.1:
Definitions.    Section 1.1 of the Existing Credit Agreement is hereby amended in the following respects: 

	i.
	The
definition of "ABR" is hereby amended by deleting "and (d) with respect to Term Loans only, 2.00%" and replacing it with, "(d) with respect
to Term Loans (except Term B-1 Loans) only, 2.00%, and (e) with respect to Term B-1 Loans only, 1.75%".

	ii.
	The
definition of "Applicable ABR Margin" is hereby amended by deleting the following: 

"(a)
with respect to each ABR Loan that is a Term Loan, (i) prior to the First Amendment Effective Date, 4.00% per annum and (ii) on and
after the First Amendment Effective Date, (A) with respect to each ABR Loan that is a Term B Loan, (x) if the Senior Secured Leverage Ratio as of the most recent Calculation Date is
greater than 5.00 to 1.00, 3.00% per annum, and (y) if the Senior Secured Leverage Ratio as of the most recent Calculation Date is less than or
equal to 5.00 to 1.00, 2.75% per annum, and (B) with respect to each ABR Loan that is a Term B-1 Loan, 2.25% per
annum" 

and
replacing it with the following: 

"(a)
with respect to each ABR Loan that is a Term Loan, (i) prior to the First Amendment Effective Date, 4.00% per annum, (ii) on and
after the First Amendment Effective Date, with respect to each ABR Loan that is a Term B Loan, (x) if the Senior Secured Leverage Ratio as 

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of
the most recent Calculation Date is greater than 5.00 to 1.00, 3.00% per annum, and (y) if the Senior Secured Leverage Ratio as of the most
recent Calculation Date is less than or equal to 5.00 to 1.00, 2.75% per annum, (iii) on and after the First Amendment Effective Date and before
the Second Amendment Effective Date, with respect to each ABR Loan that is a Term B-1 Loan, 2.25% per annum, and (iv) on and after the Second
Amendment Effective Date, with respect to each ABR Loan that is a Term B-1 Loan, 2.00% per annum".  

	iii.
	The
definition of "Adjusted LIBO Rate" is hereby amended by deleting "(a) with respect to Term Loans only, 1.00% per annum" and replacing it with "(a)
(i) with respect to Term Loans only (except Term B-1 Loans), 1.00% per annum and (ii) with respect to Term B-1 Loans only, 0.75% per annum".

	iv.
	The
definition of "Applicable LIBOR Margin" is hereby amended by deleting the following: 

"(a)
with respect to each LIBOR Loan that is a Term Loan, (i) prior to the First Amendment Effective Date, 5.00% per annum, and (ii) on
and after the First Amendment Effective Date, (A) with respect to each LIBOR Loan that is a Term B Loan, (x) if the Senior Secured Leverage Ratio as of the most recent Calculation Date
is greater than 5.00 to 1.00, 4.00% per annum, and (y) if the Senior Secured Leverage Ratio as of the most recent Calculation Date is less than
or equal to 5.00 to 1.00, 3.75% per annum and (B) with respect to each LIBOR Loan that is a Term B-1 Loan, 3.25% per
annum," 

and
replacing it with the following: 

"(a)
with respect to each LIBOR Loan that is a Term Loan, (i) prior to the First Amendment Effective Date, 5.00% per annum, (ii) on and
after the First Amendment Effective Date, with respect to each LIBOR Loan that is a Term B Loan, (x) if the Senior Secured Leverage Ratio as of the most recent Calculation Date is greater than
5.00 to 1.00, 4.00% per annum, and (y) if the Senior Secured Leverage Ratio as of the most recent Calculation Date is less than or equal to 5.00
to 1.00, 3.75% per annum, (iii) on and after the First Amendment Effective Date and before the Second Amendment Effective
Date, with respect to each LIBOR Loan that is a Term B-1 Loan, 3.25% per annum, and (iv) on and after the Second Amendment Effective Date, with
respect to each LIBOR Loan that is a Term B-1 Loan, 3.00% per annum".  

	v.
	The
definition of "Incremental Facility Amount" is hereby amended by deleting "(a) $100,000,000" and replacing it with "(a) $75,000,000".

	vi.
	The
definition of "Term B-1 Loan Commitment" is hereby amended by adding the following sentence at the end of such definition: 

"The
aggregate amount of the Term B-1 Loan Commitments as of the Second Amendment Effective Date is $425,000,000."  

	vii.
	Adding
the following definitions in Section 1.1 of the Existing Credit Agreement in proper
alphabetical order: 

        ""Second Amendment" means that certain Second Amendment to Credit Agreement, dated as of November 27, 2013 by and among the
Borrower, the Parent Guarantors, the Subsidiary Guarantors, Administrative Agent and certain Lenders." 

        ""Second Amendment Effective Date" has the meaning set forth in Section 5 of the
Second Amendment." 

        (b)    Amendment to Section 2.20(b): Repricing Protection.    The first sentence of  Section 2.20(b) of the Existing
Credit Agreement is hereby amended by deleting "In the event that, prior to the six-month 

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anniversary
of the First Amendment Effective Date" and replacing it with "In the event that, prior to the twelve-month anniversary of the First Amendment Effective Date". 

SECTION 3.    Replacement Term B-1 Loans.    Each Replacement Term B-1 Lender hereby commits to advance the amount of
Replacement Term B-1 Loans as set forth opposite its name on Schedule A attached hereto pursuant to the terms and conditions hereof. The
proceeds of the Replacement Term B-1 Loans shall be applied as set forth above. For the avoidance of doubt, the Lead Arranger and the Administrative Agent may agree to allow Term Loan Lenders
holding Existing Term B-1 Loans under the Existing Credit Agreement to exchange their Existing Term B-1 Loans for Replacement Term B-1 Loans under the Credit Agreement on terms to
be determined by the Lead Arranger and the Administrative Agent, and any such exchange shall reduce the amount of Replacement Term B-1 Loans actually funded by the Replacement Term B-1
Lenders on a dollar-for-dollar basis. The Replacement Term B-1 Loans shall constitute Term B-1 Loans under the Credit Agreement and the other Credit Documents after giving effect to this
Amendment and shall have the same amortization applicable to the Term B-1 Loans immediately prior to the effectiveness of the Amendment. 

SECTION 4.    Joinder to Credit Agreement.    Each Replacement Term B-1 Lender acknowledges and agrees that, upon the
effectiveness of this Amendment, it shall become a "Term Loan Lender" and a "Lender" under, and for all purposes of, the Credit Agreement and the other Credit Documents, and shall be subject to and
bound by the terms thereof; and shall perform all the obligations of and shall have all rights of a Term Loan Lender and a Lender thereunder. 

SECTION 5.    Conditions to Effectiveness of this Amendment.    This Amendment shall become effective when all the conditions
set forth in this Section 5 shall have been satisfied (provided that such conditions are
satisfied no later than November 27, 2013) (the date such conditions are satisfied being the "Second Amendment Effective Date"). 

        (a)    Execution of Counterparts.    The Administrative Agent shall have executed this Amendment, in its capacity as
Administrative Agent. The Replacement Term B-1 Lenders shall have executed this Amendment. The Administrative Agent and J.P. Morgan Securities LLC, in its capacity as lead arranger (the
"Lead Arranger"), shall have received counterparts of this Amendment executed by a duly authorized officer of the Borrower, each Parent Guarantor and
each Subsidiary Guarantor. 

        (b)    Repayment.    The Borrower shall pay on the Second Amendment Effective Date all accrued and unpaid interest on
the Existing Term B-1 Loans and any amounts owing under Section 2.20 of the Existing Credit Agreement, if any, and any other amounts owing with respect to the Existing Term B-1 Loans;  provided that
the Borrower shall not be required to pay any amounts accrued and owing as of the Second Amendment Effective Date pursuant to
Section 2.12 of the Existing Credit Agreement. 

        (c)    Legal Opinions.    The Lead Arranger and the Administrative Agent shall have received the executed legal
opinion of Kirkland & Ellis LLP, special New York counsel to the Credit Parties, (i) dated the Second Amendment Effective Date, (ii) addressed to the Administrative Agent,
the Letter of Credit Issuer and the Lenders, and (iii) in form and substance reasonably satisfactory to the Administrative Agent and the Lead Arranger. The Borrower, the other Credit Parties
and the Administrative Agent hereby instruct such counsel to deliver such legal opinion. 

        (d)    Secretary Certificates.    The Administrative Agent shall have received a certificate of the Borrower, dated
the Second Amendment Effective Date and reasonably acceptable to the Administrative Agent and the Lead Arranger, in each case with appropriate insertions, executed by the President or any Vice
President and the Secretary or any Assistant Secretary of the Borrower, and attaching (i) a copy of the resolutions, in form and substance satisfactory to the Administrative Agent, of the Board
of Directors (or similar governing body) of the Borrower (or a duly authorized committee thereof) authorizing (x) the execution, delivery and performance of this Amendment and the other Credit
Documents (and any agreements relating thereto) to which it is a party and (y) in the case of 

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the
Borrower, the extensions of credit contemplated hereunder; (ii) true and complete copies of the certificate of incorporation and by-laws (or equivalent organizational documents) of the
Borrower, (iii) incumbency certificates of the officers of the Borrower executing this Amendment or any other Credit Documents to which the Borrower is a party as of the Second Amendment
Effective Date and (iv) to the extent available, a good standing certificate, in each case certified as of a recent date from the applicable Governmental Authority of the Borrower's
jurisdiction of organization; provided that, in the case of any Credit Party other than the Borrower, in lieu of the attachments referred to in
clauses (i),(ii) and (iii) of this Section 5(d), such certificate (1) may certify that. 

        (e)    Fees and Expenses.    (i) The Administrative Agent and the Lead Arranger shall have received all reasonable and
documented out-of-pocket expenses incurred by the Administrative Agent and the Lead Arranger (including the reasonable fees, charges and disbursements of outside counsel for the Administrative Agent
and the Lead Arranger) required to be paid to the Administrative Agent and the Lead Arranger pursuant to the Existing Credit Agreement and any separate letter agreement relating to the Second
Amendment and for which invoices have been presented, no later than one Business Day prior to the Second Amendment Effective Date and (ii) the Lead Arranger and Second Amendment Documentation
Agent shall have received all fees due and payable by the Borrower and otherwise required to be paid pursuant to separate letter agreements on or before the Second Amendment Effective Date. 

        (f)    Representations and Warranties.    

	i.
	As
of the Second Amendment Effective Date, the representations and warranties contained herein, in the Credit Agreement and in the other Credit Documents
shall be true and correct in all material respects on and as of the Second Amendment Effective Date, except to the extent such representations and warranties specifically relate to an earlier date, in
which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date.

	ii.
	With
respect to each Credit Party, other than the Borrower, (A) since the Closing Date, there have been no changes to the certificate of
incorporation and by-laws (or equivalent organizational documents) of such Credit Party, (B) the resolutions adopted by the Board of Directors (or similar governing body) of such Credit Party
and attached to the secretary's certificate of such Credit Party delivered on the Closing Date have not been modified, rescinded or amended and are in full force and effect as of the Second Amendment
Effective Date, and (C) no changes have been made to the incumbency certificate of the officers of such Credit Party delivered on the Closing Date by such Credit Party. 

        (g)    No Default.    As of the Second Amendment Effective Date, no event shall have occurred and be continuing or
would result from the consummation of the transactions contemplated by this Amendment on the Second Amendment Effective Date that would constitute an Event of Default or a Default. 

        (h)    Solvency.    On the Second Amendment Effective Date, immediately following the making of the Replacement Term
B-1 Loans and after giving effect to the application of the proceeds of such Loans on the Second Amendment Effective Date, Holdings on a consolidated basis with its Subsidiaries will be Solvent. 

        (i)    Borrowing Notice.    Prior to the making of the Replacement Term B-1 Loans, the Administrative Agent and the
Lead Arranger shall have received a Notice of Borrowing (whether in writing or by telephone) meeting the requirements of Section 2.3 of the Credit Agreement. 

4

 

SECTION 6.    Representations and Warranties.    Each Credit Party represents and warrants as follows: 

        (a)    Status.    Each of each Parent Guarantor, the Borrower and each Restricted Subsidiary (other than any
Immaterial Subsidiary) (a) is a duly organized and validly existing corporation or other entity in good standing under the laws of the jurisdiction of its organization and has the corporate or
other organizational power and authority to own its property and assets and to transact the business in which it is engaged and (b) has duly qualified and is authorized to do business and is in
good standing in all jurisdictions where it is required to be so qualified or in good standing, except where the failure to be so qualified could not reasonably be expected to result in a Material
Adverse Effect; provided, however, that each Parent Guarantor, the Borrower and the Subsidiaries may
consummate any transaction permitted under Section 10.3 of the Credit Agreement. 

        (b)    Power and Authority.    Each Credit Party has the corporate or other organizational power and authority to
execute, deliver and carry out the terms and provisions of the Credit Documents to which it is a party and has taken all necessary corporate or other organizational action to authorize the execution,
delivery and performance of the Credit Documents to which it is a party (and, in the case of the Borrower, to borrow hereunder); (b) each Credit Party has duly executed and delivered each
Credit Document to which it is a party and each such Credit Document constitutes the legal, valid and binding obligation of such Credit Party enforceable in accordance with its terms, except as the
enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditors' rights generally and subject to general principles of equity; and (c) each Credit Party
(i) has the corporate or other organizational power and authority and possesses all franchises, licenses, permits, authorizations and approvals, in each case from Governmental Authorities,
necessary to enable it to use its corporate name and to own, lease or otherwise hold its properties and assets and to carry on its business as presently conducted other than such franchises, licenses,
permits, authorizations and approvals the lack of which, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect and (ii) is in compliance with all
applicable statutes, laws, ordinances, rules, orders, permits, franchises and regulations of any applicable Governmental Authority, domestic or foreign (including, without limitation, those related to
Hazardous Materials and substances), except where noncompliance could not reasonably be expected to have a Material Adverse Effect. 

        (c)    Authorization; No Violation.    Neither the execution, delivery or performance by any Credit Party of this
Amendment, the Credit Agreement or the other Credit Documents to which it is a party nor compliance with the terms and provisions thereof nor the Term B-1 Loan Refinancing or the other transactions
contemplated by this Amendment will (a) contravene any applicable provision of any law, statute, rule, regulation, order, writ, injunction or decree of any court or governmental
instrumentality, except where such contravention could not reasonably be expected to have a Material Adverse Effect, (b) result in any breach of any of the terms, covenants, conditions or
provisions of, or constitute a default under, or result in the creation or imposition of (or the obligation to create or impose) any Lien upon any of the property or assets of any Parent Guarantor,
the Borrower or any of the Restricted Subsidiaries (other than Liens created under the Credit Documents) pursuant to, the terms of any indenture (including the Senior Unsecured Notes Indenture and the
Senior Subordinated Notes Indenture), loan agreement, lease agreement, mortgage, deed of trust, agreement or other material instrument to which any Parent Guarantor, the Borrower or any of the
Restricted Subsidiaries is a party or by which it or any of its property or assets is bound, except where such breach or default could not reasonably be expected to have a Material Adverse Effect or
(c) violate any provision of the certificate of incorporation, by-laws or other constitutional documents of any Parent Guarantor, the Borrower or any of the Restricted Subsidiaries. 

        (d)    Accuracy of Representations and Warranties.    The representations and warranties of each Credit Party set
forth in the Credit Documents (including, for avoidance of doubt, in the Credit Agreement) are true and correct in all material respects on and as of the Amendment Effective Date, except to the extent
such representations and warranties specifically relate to an earlier date, in which 

5

 

case
such representations and warranties shall have been true and correct in all material respects on and as of such earlier date. 

        (e)    No Default or Event of Default.    As of the Amendment Effective Date, after giving effect to this Amendment,
no Event of Default or a Default has occurred and is continuing. 

SECTION 7.    Validity of Obligations and Liens.    

        (a)    Validity of Obligations.    The Borrower, each Parent Guarantor and each other Credit Party acknowledges and
agrees that, both before and after giving effect to this Amendment and the Credit Agreement, the Borrower, each Parent Guarantor and each other Credit Party is, jointly and severally, indebted to the
Lenders and the other Secured Parties for the Obligations, without defense, counterclaim or offset of any kind and the Borrower, each Parent Guarantor and each other Credit Party hereby ratifies and
reaffirms the validity, enforceability and binding nature of such Obligations
(except as the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditors' rights generally and subject to general principles of equity). 

        (b)    Validity of Guarantees.    Each Parent Guarantor and each other Guarantor hereby (i) acknowledges and
agrees to the terms of this Amendment and the Credit Agreement and (ii) confirms and agrees that, its guarantee under the Guarantee Agreement is, and shall continue to be, in full force and
effect, and shall apply to all Obligations and such guarantee is hereby ratified and confirmed in all respects. 

        (c)    Validity of Liens and Credit Documents.    The Borrower, each Parent Guarantor and each other Credit Party
hereby ratifies and reaffirms the validity and enforceability (except as the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditors' rights generally and
subject to general principles of equity) of the Liens and security interests granted to the Administrative Agent for the benefit of the Secured Parties to secure any of the Obligations by the
Borrower, each Parent Guarantor or any other Credit Party pursuant to the Credit Documents to which any of the Borrower, each Parent Guarantor or any other Credit Party is a party and hereby confirms
and agrees that notwithstanding the effectiveness of this Amendment and the Credit Agreement, and except as expressly amended by this Amendment or pursuant to the Credit Agreement, each such Credit
Document is, and shall continue to be, in full force and effect and each is hereby ratified and confirmed in all respects, except that, on and after the effectiveness of this Amendment and the Credit
Agreement, (i) each reference in the Credit Documents to the "Credit Agreement", "thereunder", "thereof" (and each reference in the Credit Agreement to this "Agreement", "hereunder" or
"hereof") or words of like import shall mean and be a reference to the Credit Agreement (as amended hereby) and (ii) all references to "Term B-1 Loans" in the Credit Documents shall be deemed
to be references to the Replacement Term B-1 Loans. 

SECTION 8.    Lender Consent and Authorization to Amend Other Credit Documents.    

        (a)   Each
of the Lenders party hereto hereby acknowledges and agrees that it has received a copy of the Credit Agreement and consents to, and authorizes the Borrower, each
Parent Guarantor, each other Credit Party and the Administrative Agent to enter into such amendments, restatements, amendment and restatements, supplements and modifications to the Security Agreement,
the Guarantee and the other Security Documents and Credit Documents as the Administrative Agent or the Lead Arranger deems reasonably necessary or desirable in connection with this Amendment. 

        (b)   By
signing below, each of the Replacement Term B-1 Lenders, in its capacity as a Lender under the Credit Agreement, hereby irrevocably authorizes and directs Credit
Suisse AG, Cayman Islands Branch to execute the Second Amendment in its capacity as Administrative Agent. 

SECTION 9.    Governing Law.    THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT AND ANY
CLAIM, CONTROVERSY OR 

6

 

DISPUTE
ARISING UNDER OR RELATED TO THIS AMENDMENT (INCLUDING, WITHOUT LIMITATION, ANY CLAIMS SOUNDING IN CONTRACT LAW OR TORT LAW ARISING OUT OF THE SUBJECT MATTER HEREOF) SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 

SECTION 10.    Execution in Counterparts.    This Amendment may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an
executed counterpart of this Amendment or the Acknowledgement and Consent hereof by telecopier or electronic image scan transmission (e.g., PDF via electronic mail) shall be effective as
delivery of an original executed counterpart of this Amendment or such Acknowledgement and Consent. 

SECTION 11.    Execution of Amendment.    This Amendment shall be executed by the Borrower, each Parent Guarantor, each
Subsidiary Guarantor, the Administrative Agent, in its capacity as Administrative Agent under the Existing Credit Agreement, and each Replacement Term B-1 Lender. Execution of this Amendment by any
Person constitutes the agreement of such Person to (and results in such Person being bound by) this Amendment and the Credit Agreement. 

SECTION 12.    Severability.    Any provision of this Amendment that is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability
in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

SECTION 13.    Integration.    This Amendment, the Existing Credit Agreement, the Credit Agreement, the other Credit
Documents and any separate letter agreements among the Borrower and the Lead Arranger and/or its affiliates represent the agreement of the Borrower, the Administrative Agent and the Lenders with
respect to the subject matter hereof, and there are no promises, undertakings, representations or warranties by the Administrative Agent, the Lead Arranger or any Lender relative to subject matter
hereof not expressly set forth or referred to herein or in the Existing Credit Agreement, the Credit Agreement, the other Credit Documents or such other letter agreements. 

SECTION 14.    No Novation.    This Amendment shall not extinguish the obligations for the payment of money outstanding under
the Existing Credit Agreement or discharge or release the priority of any Credit Document or any other security therefor. Nothing herein contained shall be construed as a substitution or novation of
the obligations outstanding under the Existing Credit Agreement or the instruments, documents and agreements securing the same, which shall remain in full force and effect. Nothing in this Amendment
shall be construed as a release or other discharge of the Borrower, each Parent Guarantor or any other Credit Party from any of its obligations and liabilities under the Existing Credit Agreement or
the other Credit Documents, all of which are continued on the terms set forth in the Credit Agreement. 

SECTION 15.    Waiver of Jury Trial.    Each of the Parent Guarantors, each of the Subsidiary Guarantors and the Borrower
each hereby irrevocably and unconditionally: 

        (a)   submits
for itself and its property in any legal action or proceeding relating to this Amendment, or for recognition and enforcement of any judgment in respect thereof,
to the exclusive jurisdiction of the courts of the State of New York located in the Borough of Manhattan, New York, New York, the courts of the United States of America for the Southern District of
New York and appellate courts from any thereof; 

        (b)   consents
and agrees that any such action or proceeding arising out of or relating to this Amendment or any other Credit Document may be brought in any court referred to
in paragraph (a) of this Section 15 and waives any objection that it may now or hereafter have to the laying of venue of 

7

 

any
such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same; 

        (c)   agrees
that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified mail (or any substantially similar
form of mail), postage prepaid, to the Borrower at its address set forth in Section 13.2 of the Credit Agreement or at such other address of which the Administrative Agent shall have been
notified pursuant thereto; 

        (d)   agrees
that nothing herein shall affect the right to effect service of process in any other manner permitted by law; and 

        (e)   waives,
to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding referred to in this  Section 15 any special, indirect, exemplary, punitive or
consequential damages. 

        Each
of the parties hereto agrees that a final judgment in any such action or proceeding arising out of or relating to this Amendment and brought in any court referred to in
paragraph (a) of this Section 15 shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other
manner provided by law. 

SECTION 16.    Headings.    Section and subsection headings in this Amendment are included herein for convenience of
reference only and shall not constitute a part of this Amendment for any other purpose or be given any substantive effect. 

SECTION 17.    Successors and Assigns.    This Amendment shall be binding upon and inure to the benefit of the Borrower, each
Parent Guarantor and each other Credit Party party hereto and their respective successors and assigns, and upon the Administrative Agent and the Lenders and each of their respective successors and
assigns. Neither the Borrower's nor any Parent Guarantor's, nor any other Credit Parties' rights and obligations hereunder and any interest therein may be assigned or delegated by the Borrower, each
Parent Guarantor or any other Credit Party without the prior written consent of all Lenders. 

[signature pages follow] 

8

 

 

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

 

							
	 	 	BORROWER:
	

 	
 	
WIDEOPENWEST FINANCE, LLC
	

 	
 	
  By:	
 	
  

 
	 	 	 	 	Name:	 	 
	 	 	 	 	Title:	 	 
	

 	
 	
PARENT GUARANTORS:
	

 	
 	
RACECAR ACQUISITION, LLC
	

 	
 	
  By:	
 	
  

 
	 	 	 	 	Name:	 	 
	 	 	 	 	Title:	 	 
	

 	
 	
WIDEOPENWEST CLEVELAND, INC.

WIDEOPENWEST ILLINOIS, INC.

WIDEOPENWEST NETWORKS, INC.

WIDEOPENWEST OHIO, INC.

WOW SIGECOM, INC.

WIDEOPENWEST KITE INC.
	

 	
 	
  By:	
 	
  

 
	 	 	 	 	Name:	 	 
	 	 	 	 	Title:	 	 

 

 9

 
 

							
	

 	
 	
SUBSIDIARY GRANTORS:
	

 	
 	
 WIDEOPENWEST CLEVELAND, LLC

WIDEOPENWEST ILLINOIS, LLC

WIDEOPENWEST MICHIGAN, LLC

WIDEOPENWEST NETWORKS, LLC

WIDEOPENWEST OHIO, LLC

SIGECOM, LLC

WIDEOPENWEST CAPITAL CORP.

WIDEOPENWEST MID-MICHIGAN HOLDINGS, LLC

WIDEOPENWEST MID-MICHIGAN, LLC
	

 	
 	
  By:	
 	
 

 
	 	 	 	 	Name:	 	 
	 	 	 	 	Title:	 	 

 

 10

 
 

							
	 	 	KITE PARENT CORP.

KNOLOGY, INC.

KNOLOGY BROADBAND, INC.

KNOLOGY OF CENTRAL FLORIDA, INC.

KNOLOGY PROVIDER SOLUTIONS GROUP, INC.

KNOLOGY OF ALABAMA, INC.

KNOLOGY OF AUGUSTA, INC.

KNOLOGY OF CHARLESTON, INC.

KNOLOGY OF COLUMBUS, INC.

KNOLOGY OF FLORIDA, LLC

KNOLOGY OF GEORGIA, INC.

KNOLOGY OF HUNTSVILLE, INC.

KNOLOGY OF KNOXVILLE, INC.

KNOLOGY OF MONTGOMERY, INC.

KNOLOGY OF NASHVILLE, INC.

KNOLOGY OF SOUTH CAROLINA, INC.

KNOLOGY OF SOUTH DAKOTA, INC.

KNOLOGY OF TENNESSEE, INC.

GLOBE TELECOMMUNICATIONS, INC.

ITC GLOBE, INC.

KNOLOGY OF THE VALLEY, INC.

VALLEY TELEPHONE CO., LLC

KNOLOGY OF THE PLAINS, INC.

KNOLOGY COMMUNITY TELEPHONE, INC.

KNOLOGY OF THE BLACK HILLS, LLC

BLACK HILLS FIBER SYSTEMS, INC.

BHFC PUBLISHING, LLC

KNOLOGY TOTAL COMMUNICATIONS, INC.

KNOLOGY OF THE WIREGRASS, INC.

WIREGRASS TELECOM, INC.

COMMUNICATIONS ONE, INC.

KNOLOGY OF KANSAS,INC.

KNOLOGY DATA CENTER SERVICES, INC.

KNOLOGY OF KENTUCKY, INC.
	

 	
 	
  By:	
 	
 

 
	 	 	 	 	Name:	 	 
	 	 	 	 	Title:	 	 

 

 11

 

 

					
	 	 	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,

as Administrative Agent
	

 	
 	
 By:	
 	

 
	 	 	 	 	Name:

Title:
	

 	
 	
 By:	
 	

 
	 	 	 	 	Name:

Title:

 

 12

 
 

					
	 	 	[                                    ],

as a Replacement Term B-1 Lender
	

 	
 	
 By:	
 	

 
	 	 	 	 	Name:

Title:

 

 13

 
 
 

SCHEDULE A    
    

 
    REPLACEMENT TERM B-1 LOAN COMMITMENTS    
    

 

						
	Replacement Term B-1 Lender

 
	 	Commitment 	 	Address 
	 JPMMORGAN CHASE BANK, N.A. 
	 	$	425,000,000	 	270 Park Avenue

New York, New York 10017
	 Total
	 	
$	

425,000,000	 	 

 

 14

QuickLinks

EXHIBIT 10.6

SCHEDULE A

REPLACEMENT TERM B-1 LOAN COMMITMENTS

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00228-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00228-of-00352.parquet"}]]