Document:

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                                                                   EXHIBIT 10.43

                             SECOND AMENDMENT TO THE

                              AMENDED AND RESTATED

                        AGREEMENT OF LIMITED PARTNERSHIP

                                       OF

                            PALMETTO MOBILENET, L.P.
                      A SOUTH CAROLINA LIMITED PARTNERSHIP

     This Second Amendment to the Amended and Restated Agreement of Limited
Partnership of Palmetto MobileNet, L.P. ("Amendment") is entered into to be
effective as of the 8th day of October 2003, by and among PMN, Inc., a South
Carolina corporation ("General Partner"), and those persons, firms,
cooperatives, or corporations who are listed on Exhibit A ("Limited Partners")
and are partners in Palmetto MobileNet, L.P. (the "Partnership") (the General
Partner and Limited Partners being hereinafter sometimes together referred to as
the "Partners" and being hereinafter sometimes individually referred to as a
"Partner").

     WHEREAS, the Partners believe that it is in the best interest of the
Partnership and of the Partners to amend certain provisions of the Partnership's
Amended and Restated Agreement of Limited Partnership, effective September 1,
1998, as amended (the "Partnership Agreement") relative to the Purchase Price
(as defined in the Partnership Agreement) of the Units (as defined in the
Partnership Agreement); and

     WHEREAS, pursuant to Section 9.8 of the Partnership Agreement, a change in
the Purchase Price must be approved by a Majority-In-Interest; and

     WHEREAS, pursuant to Section 11.2 of the Partnership Agreement, the
Partnership Agreement may be modified or amended with the consent of a
Majority-In-Interest (except those provisions requiring a vote greater than a
Majority-In-Interest); and

     WHEREAS, a Majority-In-Interest is defined in Article I of the Partnership
Agreement as Partners holding 66 2/3% or more of the outstanding Units; and

     WHEREAS, more than 66 2/3% of the outstanding Partnership Units have
approved this Amendment.

     NOW, THEREFORE, in consideration of the foregoing, the mutual promises
hereinafter set forth and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Partners, intending to be
legally bound, hereby agree as follows:

     All capitalized terms not otherwise defined hereinbelow shall have the same
meaning as set forth in the Partnership Agreement unless otherwise expressly
provided herein or unless the context otherwise requires.

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     1.   Section 9.8 of the Partnership Agreement is hereby deleted in its
          entirety and the following shall be inserted in its place and stead
          effective as of the date first written above:

          SECTION 9.8 Purchase Price. The following formula shall apply for
     determination of the purchase price of the Units acquired by the Partners
     pursuant to this Article IX (the "Purchase Price"). The Purchase Price
     shall be determined by dividing the Book Value of the Partnership by the
     number of outstanding Units and multiplying such amount by the Offering
     Partner's or the Change in Control Partner's Units and applying any premium
     as described below. For purposes of determining the Purchase Price, the
     Book Value of the Partnership shall be deemed to be $ 106,854,015.

               The Book Value of such Units shall be subject to the following
     premiums according to the calendar year in which such Units are to be
     acquired.

                                   1995 - 10%
                                   1996 - 20%
                                   1997 - 30%
                                   1998 - 40%
                                   1999 (and thereafter) - 50%

                        Thus the Purchase Price shall be:

                            110% x Book Value (1995)
                            120% x Book Value (1996)
                            130% x Book Value (1997)
                            140% x Book Value (1998)
                     150% x Book Value (1999 and thereafter)

     The Partners acknowledge and agree that (i) the amount set forth as the
     Book Value is intended to produce a Purchase Price representing a realistic
     fair market value for the Units and (ii) the Partners will reconsider and,
     as appropriate, adjust such amount at least every two years to reflect
     changes in the fair market value of the Units, as determined by an outside
     appraiser or other similar methodology and approved by a
     Majority-in-Interest.

The Partners reserve the right by action of the Partners to amend at any time
any of the terms and provisions of the Partnership Agreement, including without
limitation this Second Amendment as set forth herein. Except as expressly or by
necessary implication amended hereby, the Partnership Agreement still continues
in full force and effect.

                                       2<PAGE>
                                                                   EXHIBIT 10.44

                                  AMENDMENT TO
                             CT COMMUNICATIONS, INC.
                         1996 DIRECTOR COMPENSATION PLAN

          The CT Communications, Inc. 1996 Director Compensation Plan (the
"Plan") is hereby amended as set forth below, effective as of August 1, 2004:

1. Article III is hereby amended and restated in its entirety to read as
follows:

          ARTICLE III. Right to Receive Stock:

               Each Director shall receive his or her annual retainer in shares
     of common stock (the "Stock") or in cash, as determined by the Committee.
     In addition, the Committee may, in its sole discretion, give each Director
     the right to elect to receive the annual retainer in cash or Stock.

               Each Director may elect to receive fees, if any, that are
     authorized by the Committee for regular meetings, committee meetings,
     telephone conference meetings and informational sessions, in cash or Stock.
     If no election is made with regard to such fees, the Director shall receive
     all such fees in Stock unless the Committee, in its sole discretion,
     provides that some or all of such fees will be paid in cash.

               Any election pursuant to this Article shall be made in accordance
     with the terms and conditions established by the Committee, in its sole
     discretion.

2. Article IV is hereby amended by deleting paragraphs (a) through (g) and (k)
in their entirety and redesignating paragraphs (h), (i) and (j) as paragraphs
(a), (b) and (c).

3. The Plan shall be unchanged in all other respects.

                                     *  *  *

     The foregoing Amendment to the Plan was duly adopted and approved by the
Board of Directors of the Corporation.

                                        By: /s/ Michael R. Coltrane
                                            ------------------------------------
                                        Title: Chairman, President & CEO
                                        Date: August 1, 2004EX-10.62 FORM OF STOCK OPTION AGREEMENT

 

Exhibit 10.62**

I N C E N T I V E
    S T O C
K      O P T I O N

Non-transferable

GRANT TO

NAME

(the “Optionee”)

the right to purchase from Knology, Inc. (the “Company”)

# of Options

shares of its common stock, $0.01 par value, at the price of $1.87 per share

pursuant to and subject to the provisions of the Knology, Inc. 2002 Long-Term Incentive Plan
(the “Plan”) and to the terms and conditions set forth on the following page.

Unless vesting is accelerated in accordance with the Plan or in the discretion of the
Committee, the remaining Option Shares shall vest in accordance with the Optionee Statement
attached, provided that Optionee has maintained Continuous Status as a Participant as of the
vesting dates.

     IN WITNESS WHEREOF, Knology, Inc., acting by and through its duly authorized officers, has
caused this Agreement to be executed as of the Grant Date.

	 	 	 
	

	 	KNOLOGY, INC.
	 
	 	 
	

	 	By: Rodger L. Johnson
	 
	 	 
	

	 	Grant Date:
	 
	 	 
	

	 	Accepted by Optionee:
	 
	 	 
	

	 	 
	

	 	Name

 

 

TERMS AND CONDITIONS

     1. Grant of Option. Knology, Inc. (the “Company”) hereby grants to the Optionee named
on Page 1 hereof (“Optionee”), under the Knology, Inc. 2002 Long-Term Incentive Plan (the “Plan”),
stock options to purchase from the Company (the “Options”), on the terms and on conditions set
forth in this agreement (this “Agreement”), the number of shares indicated on Page 1 of the
Company’s $0.01 par value common stock, at the exercise price per share set forth on Page 1.
Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such
terms in the Plan.

     2. Vesting of Options. The Option shall vest (become exercisable) in accordance with
the Optionee Statement included with this Agreement. Notwithstanding the foregoing vesting
schedule, upon Optionee’s death, Disability or Retirement during his or her Continuous Status as a
Participant, or upon the effective date of a Change of Control, all Options shall become fully
vested and exercisable.

     For purposes of computing the number of Option Shares that Optionee has a right to acquire by
exercise of these Options, fractional Shares shall be disregarded and the next higher whole number
of Shares shall be used, rounding all fractions upward.

     3. Period of Options and Limitations on Right to Exercise. The Options will, to the
extent not previously exercised, lapse upon the earliest to occur of the following circumstances:

     (a) 5:00 p.m., Eastern Time, on the Expiration Date indicated on the Optionee Statement
included with this Agreement.

     (b) Three months after the termination of Optionee’s Continuous Status as a Participant for
any reason other than (i) for Cause or (ii) by reason of Optionee’s death or Disability.

     (c) Twelve months after the date of the termination of Optionee’s Continuous Status as a
Participant by reason of Disability.

     (d) Twelve months after the date of Optionee’s death, if Optionee dies while employed, or
during the three-month period described in subsection (b) above or during the twelve-month period
described in subsection (c) above and before the Options otherwise lapse. Upon Optionee’s death,
the Options may be exercised by Optionee’s beneficiary designated pursuant to the Plan.

     (e) 5:00 p.m., Eastern Time, on the date of the termination of Optionee’s Continuous Status as
a Participant if such termination is for Cause.

     The Committee may, prior to the lapse of the Options under the circumstances described in
paragraphs (b), (c), (d) or (e) above, extend the time to exercise the Options as determined by the
Committee in writing, but if the Options are so extended, then to the extent that they are
exercised more than three months after the termination of Optionee’s employment other than by death
or Disability, or more than one year after Optionee’s Disability, the Options will automatically
become Non-Qualified Stock Options. If Optionee returns to employment with the Company during the
designated post-termination exercise period, then Optionee shall be restored to the status Optionee
held prior to such termination but no vesting credit will be earned for any period Optionee was not
in Continuous Status as a Participant. If Optionee or his or her beneficiary exercises an Option
after termination of service, the Options may be exercised only with respect to the Shares that
were otherwise vested on Optionee’s termination of service.

     4. Exercise of Option. The Options shall be exercised by (a) written notice directed
to the Secretary of the Company or his or her designee at the address and in the form specified by
the Secretary from time to time and (b) payment to the Company in full for the Shares subject to
such exercise (unless the exercise is a broker-assisted cashless exercise, as described below). If
the person exercising an Option is not Optionee, such person shall also deliver with the notice of
exercise appropriate proof of his or her right to exercise the Option. Payment for such Shares
shall be in (a) cash, (b) Shares previously acquired by the purchaser, which have been held by the
purchaser for at least six months, or (c) any combination thereof, for the number of Shares
specified in such written notice. The value of surrendered Shares for this purpose shall be the
Fair Market Value, calculated as provided in the Plan, as of the last trading day immediately prior
to the exercise date. To the extent permitted under Regulation T of the Federal Reserve Board, and
subject to applicable securities laws and any limitations as may be applied from time to time by
the Committee (which need not be uniform), the Options may be exercised through a broker in a
so-called “cashless exercise” whereby the broker sells the Option Shares on behalf of Optionee and
delivers cash sales proceeds to the Company in payment of the exercise price. In such case, the
date of exercise shall be deemed to be the date on which notice of exercise is received by the
Company, legal title to the Option Shares shall be deemed to have passed to Optionee on the
exercise date, and the exercise price shall be delivered to the Company by the settlement date.

     5. Beneficiary Designation. Optionee may, in the manner determined by the Committee,
designate a beneficiary to exercise the rights of Optionee hereunder and to receive any
distribution with respect to the Options upon Optionee’s death. A beneficiary, legal guardian,
legal representative, or other person claiming any rights hereunder is subject to all terms and
conditions of this Agreement and the Plan, and to any additional restrictions deemed necessary or
appropriate by the Committee. If no beneficiary has been designated or survives Optionee, the
Options may be exercised by the legal representative of Optionee’s estate, and payment shall be
made to Optionee’s estate. Subject to the foregoing, a beneficiary designation may be changed or
revoked by Optionee at any time provided the change or revocation is filed with the Company.

     6. Limitation of Rights. The Options do not confer to Optionee or Optionee’s
beneficiary designated pursuant to Paragraph 5 any rights of a shareholder of the Company unless
and until Shares are in fact issued to such person in connection with the exercise of the Options.
Nothing in this Agreement shall interfere with or limit in any way the right of the Company or any
Affiliate to terminate Optionee’s service at any time, nor confer upon Optionee any right to
continue in the service of the Company or any Affiliate.

     7. Stock Reserve. The Company shall at all times during the term of this Agreement
reserve and keep available such number of Shares as will be sufficient to satisfy the requirements
of this Agreement.

     8. Restrictions on Transfer and Pledge. No right or interest of Optionee in the
Options may be pledged, encumbered, or hypothecated to or in favor of any party other than the
Company or an Affiliate, or shall be subject to any lien, obligation, or liability of Optionee to
any other party other than the Company or an Affiliate. The Options are not assignable or
transferable by Optionee other than by will or the laws of descent and distribution. The Options
may be exercised during the lifetime of Optionee only by Optionee.

     9. Restrictions on Issuance of Shares. If at any time the Committee shall determine
in its discretion, that registration, listing or qualification of the Shares covered by the Options
upon any Exchange or under any foreign, federal, or local law or practice, or the consent or
approval of any governmental regulatory body, is necessary or desirable as a condition to the
exercise of the Options, the Options may not be exercised in whole or in part unless and until such
registration, listing, qualification, consent or approval shall have been effected or obtained free
of any conditions not acceptable to the Committee.

     10. Notification of Disposition. Optionee agrees to notify the Company in writing
within 30 days of any disposition of Shares acquired by Optionee pursuant to the exercise of the
Options, if such disposition occurs within two years of the Grant Date, or one year of the date of
exercise, of the Options. The Company has the authority and the right to deduct or withhold, or
require Optionee to remit to the Company, an amount sufficient to satisfy federal, state, and local
taxes required by law to be withheld with respect to any disposition of Shares prior to the
expiration of two years of the Grant Date, or one year of the date of exercise, of the Options.

     11. Interpretation. It is the intent of the parties hereto that the Options qualify
for incentive stock option treatment pursuant to, and to the extent permitted by, Section 422 of
the Code. All provisions hereof are intended to have, and shall be construed to have, such
meanings as are set forth in applicable provisions of the Code and Treasury Regulations to allow
the Options to so qualify. To the extent that such any portion of the Options fail to qualify for
incentive stock option treatment pursuant to Section 422 of the Code, such nonqualifying portion of
the Options shall be Non-Qualified Stock Options, governed under Section 83 of the Code.

     12. Plan Controls. The terms contained in the Plan are incorporated into and made a
part of this Agreement and this Agreement shall be governed by and construed in accordance with the
Plan. In the event of any actual or alleged conflict between the provisions of the Plan and the
provisions of this Agreement, the provisions of the Plan shall be controlling and determinative.

     13. Successors. This Agreement shall be binding upon any successor of the Company, in
accordance with the terms of this Agreement and the Plan.

     14. Severability. If any one or more of the provisions contained in this Agreement is
invalid, illegal or unenforceable, the other provisions of this Agreement will be construed and
enforced as if the invalid, illegal or unenforceable provision had never been included.

     15. Notice. Notices and communications under this Agreement must be in writing and
either personally delivered or sent by registered or certified United States mail, return receipt
requested, postage prepaid. Notices to the Company must be addressed to:

Knology, Inc.

1241 O.G. Skinner Drive

West Point, Georgia 31833

Attn: General Counsel

or any other address designated by the Company in a written notice to Optionee. Notices to Optionee
will be directed to the address of Optionee then currently on file with the Company, or at any
other address given by Optionee in a written notice to the Company.

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