Document:

Exhibit 10.6

 

This is the form of Award Agreement entered into with employees
under the Zenith National Insurance Corp. 2004 Restricted Stock Plan (as may be
amended and restated from time to time and in effect at the time of execution
of an Award Agreement). Existing Award Agreements may be modified in to
conform to this form of Award Agreement.

 

FORM OF

ZENITH NATIONAL INSURANCE CORP.

RESTRICTED STOCK AWARD AGREEMENT

FOR EMPLOYEES

 

THIS
RESTRICTED STOCK AWARD AGREEMENT (the “Award Agreement”)
is made and entered into as of [               ]
(the “Date of Grant”), by and between Zenith
National Insurance Corp., a Delaware corporation (the “Company”),
and [                         ]
(the “Grantee”). Capitalized terms not
defined herein shall have the meaning ascribed to them in the Zenith National
Insurance Corp. 2004 Restricted Stock Plan, as may be amended and restated
from time to time and in effect at the time of this Award Agreement (the “Plan”). Where the context permits, references to the Company
or any of its Subsidiaries shall include the successors to the foregoing.

 

Pursuant to
the Plan, the Administrator has determined that the Grantee is to be granted
Restricted Stock, subject to the terms, conditions and restrictions set forth
in the Plan and herein, and hereby grants such Restricted Stock.

 

1.             Grant
of Restricted Stock.   The Company
hereby grants to the Grantee [               ]
shares of Restricted Stock (the “Award”) on the
terms, conditions and restrictions set forth in this Award Agreement and as
otherwise provided in the Plan.

 

2.             Purchase
Price; Method of Payment.   The
purchase price per share of Restricted Stock shall be $1.00. The purchase price
may be paid (i) in cash or its equivalent, (ii) shares of
unrestricted Stock owned by the Grantee for greater than six (6) months,
the Fair Market Value of which on the purchase date is equal to the purchase
price of the Restricted Stock, (iii) to the extent permitted by law,
cancellation of indebtedness, (iv) services rendered or (v) any
combination of the foregoing. In the absence of any other form of payment
tendered by the Grantee, the purchase price shall be paid by services rendered.

 

3.             Restrictions
with Respect to Restricted Stock.

 

(a)   Restrictions.   The
Restricted Stock granted hereunder and any interest therein, may not be
sold, transferred, pledged, hypothecated, assigned or otherwise disposed of,
except by will or the laws of descent and distribution, prior to the lapsing of
restrictions set forth in the Plan and this Award Agreement. Any attempt to
dispose of any Restricted Stock in contravention of any such restrictions shall
be null and void and without effect.

 

(b)   Restricted Period; Lapse
of Restrictions. Except as otherwise provided in the Plan or this
Award Agreement, the restrictions set forth in Paragraph 3(a) shall lapse
with

 

 

respect to fifty
percent (50%) of the shares of Restricted Stock granted hereunder on the second
(2nd) anniversary of the Date of Grant, and with respect to the
remaining fifty percent (50%) of such shares on of the fourth (4th) anniversary of the Date of Grant,
so long as the Grantee is employed by the Company or any Subsidiary as of each
such anniversary.

 

4.             Form of
Restricted Stock.   The Company may,
in its discretion, reflect ownership of Restricted Stock through the issuance
of stock certificates, in book-entry form or any combination thereof, in
accordance with Section 5(e) of the Plan.

 

5.             Unrestricted
Shares.   Promptly after each lapse
of restrictions relating to the Restricted Stock without forfeiture, and
provided that the Grantee shall have complied with his or her obligations under
Paragraph 9 hereof, the Company shall, with respect to such Unrestricted
Shares:

 

(a)   If such Unrestricted Shares were initially
issued in certificated form, issue to the Grantee or the Grantee’s personal
representative a stock certificate representing a number of shares of Stock,
free of the restrictive legend described in Paragraph 7, equal to the number of
shares of Restricted Stock with respect to which such restrictions have lapsed.
If certificates representing such Restricted Stock shall have theretofore been
delivered to the Grantee, such certificates shall be returned to the Company,
complete with any necessary signatures or instruments of transfer prior to the
issuance by the Company of such unlegended shares of Stock; or

 

(b)   If such Unrestricted Shares were initially
issued in book-entry form, transfer such Unrestricted Shares to the Grantee in
the form and registration as indicated by the Grantee.

 

6.             Rights
as a Stockholder.   Subject to the
restrictions set forth in the Plan and this Award Agreement, the Grantee shall
possess all incidents of ownership with respect to the Restricted Stock granted
hereunder, including the right to vote such Restricted Stock and the right to
receive dividends with respect to such Restricted Stock; provided however, that
extraordinary or non-cash dividends shall be subject to the same restrictions
that apply to the underlying Restricted Stock.

 

7.             Certificate;
Restrictive Legend.   Any certificate
issued for Restricted Stock prior to the lapse of any outstanding restrictions
relating thereto shall be inscribed with the following legend, or such other
legend as determined by the Administrator:

 

THIS
CERTIFICATE AND THE SHARES OF STOCK REPRESENTED HEREBY ARE SUBJECT TO THE TERMS
AND CONDITIONS, INCLUDING FORFEITURE PROVISIONS AND RESTRICTIONS AGAINST
TRANSFER (THE “RESTRICTIONS”), CONTAINED IN THE ZENITH NATIONAL INSURANCE CORP.
AMENDED AND RESTATED 2004 RESTRICTED STOCK PLAN AND THE RESTRICTED STOCK AWARD
AGREEMENT ENTERED INTO BETWEEN THE REGISTERED OWNER AND THE COMPANY. ANY
ATTEMPT TO DISPOSE OF THESE SHARES IN CONTRAVENTION OF THE RESTRICTIONS,
INCLUDING BY WAY OF SALE, ASSIGNMENT, TRANSFER, PLEDGE, HYPOTHECATION OR
OTHERWISE, SHALL BE NULL AND VOID AND WITHOUT EFFECT.

 

 

Termination of
Employment.

 

Except as may otherwise be
set forth in a written agreement between Grantee and the Company, whether
executed on, before or after the date of the Award Agreement, the following
provisions shall apply upon the termination of Grantee’s employment:

 

(a)   Upon the Grantee’s death or termination of
employment due to Disability, the restrictions set forth in Paragraph 3(a) shall
lapse.

 

(b)   Upon termination of the Grantee’s employment
with the Company or any Subsidiary thereof for any reason (other than death or
Disability) prior to the lapsing of restrictions with respect to any portion of
the Restricted Stock granted hereunder, the Grantee shall forfeit any rights to
the shares of Restricted Stock with respect to which the restrictions have not
lapsed and shall have no further rights thereto.

 

(c)   Upon forfeiture of any shares of Restricted
Stock, to the extent the Grantee paid the purchase price of such forfeited
shares in a manner other than services rendered, the Company shall repurchase
such shares from the Grantee at a price per share equal to the lesser of (i) the
Fair Market Value of such shares at the time of forfeiture or (ii) the
price Grantee paid for such shares initially.

 

8.             Taxes.
  Pursuant to Section 9(d) of
the Plan, the Company (or Subsidiary, as the case may be) may require
the Grantee to remit to the Company (or Subsidiary, as the case may be) in
cash an amount sufficient to satisfy any federal, state and local tax
withholding requirements related to the Award. With the approval of the
Administrator, the Grantee may satisfy the foregoing requirement by
electing to have the Company withhold from delivery shares of Stock or by
delivering shares of Stock already owned by the Grantee for at least 6 months,
in each case, having a value equal to the minimum amount of tax required to be
withheld. Such shares shall be valued at their Fair Market Value on the date on
which the amount of tax to be withheld is determined, and fractional share
amounts shall be settled in cash. Such an election may be made with
respect to all or any portion of the shares of Stock to be delivered pursuant
to the Award.

 

The Grantee
shall promptly notify the Company of any election made pursuant to Section 83(b) of
the Internal Revenue Code of 1986, as amended.

 

9.             Adjustments.   The
Award and all rights and obligations under this Award Agreement are subject to Section 3
of the Plan.

 

10.           Notices.
  Whenever any notice is required or
permitted hereunder, such notice shall be in writing and shall be given by
personal delivery or first class, certified or registered mail with return
receipt requested. Any notice required or permitted to be delivered hereunder
shall be deemed to have been duly given on the date which it is personally
delivered or, whether actually received or not, on the third business day after
mailing to the respective parties named below.

 

 

If to the Company:               Zenith
National Insurance Corp.

21255 Califa St

Woodland Hills, CA 91367

Attn.:  William J. Owen, Sr. Vice
President

and Chief Financial Officer

Facsimile:  818-592-0480

 

If to the Grantee:                  [Name
of Grantee]

[Address]

 

Either party may change
such party’s address for notices by duly giving notice pursuant hereto.

 

11.           Compliance
with Laws.

 

(a)   Shares of Stock shall not be issued pursuant
to the Award granted hereunder unless the issuance or delivery of such shares
pursuant thereto shall comply with all relevant provisions of law, including,
without limitation, the Securities Act of 1933 (the “Securities
Act”) and the Exchange Act, shall be subject to the requirements of
any stock exchange upon which the Stock may then be listed, and shall be
further subject to the approval of counsel for the Company with respect to such
compliance. The Company shall be under no obligation to effect the registration
pursuant to the Securities Act, of any interests in the Plan or any shares of
Stock to be issued hereunder or to effect similar compliance under any state
laws.

 

(b)   All certificates for shares of Stock
delivered under the Plan shall be subject to such stop-transfer orders and
other restrictions as the Administrator may deem advisable under the
rules, regulations, and other requirements of the Securities and Exchange
Commission, any stock exchange upon which the Stock may then be listed,
and any applicable federal or state securities law, and the Administrator may cause
a legend or legends to be placed on any such certificates to make appropriate
reference to such restrictions. The Administrator may require, as a
condition of the issuance or delivery of certificates evidencing shares of
Stock pursuant to the terms hereof, that the recipient of such shares make such
agreements and representations as the Administrator, in its sole discretion,
deems necessary or desirable.

 

12.           Protections
Against Violations of Agreement.   No
purported sale, assignment, mortgage, hypothecation, transfer, pledge,
encumbrance, gift, transfer in trust (voting or other) or other disposition of,
or creation of a security interest in or lien on, any of the shares of Stock
underlying the Award by any holder thereof in violation of the provisions of
this Award Agreement, the Plan or the certificate of incorporation or the
bylaws of the Company, will be valid, and the Company will not transfer any
such shares on its books nor will any such shares be entitled to vote, nor will
any dividends be paid thereon, unless and until there has been full compliance
with such provisions to the satisfaction of the Company. The foregoing
restrictions are in addition to and not in lieu of any other remedies, legal or
equitable, available to enforce said provisions.

 

13.           Failure
to Enforce Not a Waiver.   The
failure of the Company to enforce at any time any provision of the Award
Agreement shall in no way be construed to be a waiver of such provision or of
any other provision hereof.

 

 

14.           Governing
Law.   The Award Agreement shall be
governed by and construed according to the laws of the State of Delaware
without regard to its principles of conflict of laws.

 

15.           Incorporation
of the Plan.   The Plan, as it exists
on the date of the Award Agreement and as amended from time to time, is hereby
incorporated by reference and made a part hereof, and the Award and this
Award Agreement shall be subject to all terms and conditions of the Plan. In
the event of any conflict between the provisions of the Award Agreement and the
provisions of the Plan, the terms of the Plan shall control, except as
expressly stated otherwise. The term “Section” generally refers to provisions
within the Plan (except where denoted otherwise); provided, however, the term “Paragraph”
shall refer to a provision of this Award Agreement.

 

16.           Amendments.
  This Award Agreement may be
amended or modified at any time, but only by an instrument in writing signed by
each of the parties hereto.

 

17.           Counterparts.   This Award Agreement may be executed in
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

 

18.           Invalid
Provision.   The invalidity or
unenforceability of any particular provision hereof shall not affect the other
provisions hereof, and this Award Agreement shall be construed in all respects
as if such invalid or unenforceable provision had been omitted.

 

19.           Entire
Agreement.   This Award Agreement and
the Plan, as it exists on the date of this Award Agreement and as amended from
time to time, contain the entire agreement and understanding of the parties
hereto with respect to the subject matter contained herein and therein and
supersede all prior communications, representations and negotiations in respect
thereto.

 

20.           Captions
and Headings.   The captions and headings of the paragraphs
and subparagraphs of this Award Agreement are provided for convenience only and
are not to serve as a basis for interpreting or construing this Award
Agreement.

 

21.           Agreement
Not a Contract of Employment.   Neither
the Plan, the granting of the Award, the Award Agreement nor any other action
taken pursuant to the Plan shall constitute or be evidence of any agreement or
understanding, express or implied, that the Grantee has a right to continue to
be employed by, or to provide services as a director, consultant or advisor to,
the Company, any Subsidiary or affiliate thereof for any period of time or at
any specific rate of compensation.

 

22.           Authority
of the Administrator.   The
Administrator shall have full authority to interpret and construe the terms of
the Plan and the Award Agreement. The determination of the Administrator as to
any such matter of interpretation or construction shall be final, binding and
conclusive.

 

23.           Binding
Effect.   The Award Agreement shall
apply to and bind the Grantee and the Company and their respective permitted
assignees or transferees, heirs, legatees, executors, administrators and legal
successors.

 

 

24.           Tax
Representation.   The Grantee has
reviewed with his or her own tax advisors the federal, state, local and foreign
tax consequences of the transactions contemplated by this Award Agreement. The
Grantee is relying solely on such advisors and not on any statement or
representations of the Company or any of its agents. The Grantee understands
that he or she (and not the Company) shall be responsible for any tax liability
that may arise as a result of the transactions contemplated by the Award
Agreement.

 

25.           Acceptance.
  The Grantee hereby acknowledges receipt
of a copy of the Plan, the prospectus and this Award Agreement. Grantee has
read and understands the terms and provisions thereof, and accepts the Award
subject to all the terms and conditions of the Plan and the Award Agreement.

 

 

IN WITNESS
WHEREOF, the parties hereto have executed and delivered the Award Agreement as
of the day and year first above written.

 

 

	
   

  	
  ZENITH
  NATIONAL INSURANCE CORP.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GRANTEE

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Signature:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Address:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Social
  Security No.:

  	
   

  	
   

  
	
   

  	
  Date:Exhibit 10.1

EXECUTION COPY

CONFIDENTIAL
SETTLEMENT MATERIALS—SUBJECT TO

DELAWARE UNIFORM RULE OF EVIDENCE 408—NOT TO BE USED OR 

DISCLOSED FOR ANY PURPOSE OTHER THAN SETTLEMENT

SETTLEMENT AGREEMENT AND MUTUAL RELEASE

This Settlement Agreement and Mutual Release (this “Agreement”)
is entered into as of April 19, 2006, by and among Sprint Nextel
Corporation, a Kansas corporation, Sprint Spectrum L.P., a Delaware limited
partnership, WirelessCo, L.P., a Delaware limited partnership, Sprint
Communications Company L.P., a Delaware limited partnership, Sprint Telephony
PCS, L.P., a Delaware limited partnership, Sprint PCS License, L.L.C., a
Delaware limited liability corporation and Nextel Communications, Inc., a
Delaware corporation (collectively, the “Sprint Parties”), UbiquiTel Inc., a
Delaware corporation (“UbiquiTel”), and UbiquiTel Operating Company, a Delaware
corporation (collectively, the “UbiquiTel Parties” and together with the Sprint
Parties, the “Parties”).

Whereas,
on July 12, 2005, UbiquiTel initiated a lawsuit
against the Sprint Parties asserting, among other things, breach of contract
and seeking numerous remedies, which is currently pending in the Delaware Court
of Chancery (the “Chancery Court”)
and is styled UbiquiTel Inc. and UbiquiTel Operating
Company v. Sprint Corporation, Sprint Spectrum, L.P., WirelessCo, L.P., Sprint
Communications Company L.P., Sprint Telephony PCS, L.P., Sprint PCS License,
L.L.C., and Nextel Communications, Inc., C.A. No. 1489-N
(the “Litigation”);

Whereas,
on the terms and subject to the conditions contained
herein, the Parties wish to compromise and settle the claims in the Litigation;

Now,
therefore, in consideration of the mutual covenants
and promises set forth herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties
hereto, intending to be legally bound, hereby agree as follows:

1.    Agreement and Plan of Merger.   The Parties are executing and delivering this
Agreement contemporaneously with the execution and delivery by certain
UbiquiTel Parties and certain Sprint Parties of an Agreement and Plan of Merger
(the “Merger Agreement”) in the form attached
as Exhibit A to this Agreement.

2.    Effectiveness of Provisions.   This Section 2 and Sections 1, 4, 5, 6, 7, 8, 9,
10 and 11 of this Agreement shall be effective from and after the date of this
Agreement (the “Signing Date”); provided that
Sections 5, 6, 7, 8 and 9 of this Agreement shall terminate if the Merger
Agreement is terminated for any reason. The remainder of this Agreement,
including but not limited to the releases provided for in this Agreement, will
become effective at the time (the “Effectiveness Time”)
of the consummation of the Merger.

3.     General
Releases.

(a) Sprint Release of the UbiquiTel Parties.   As of the Effectiveness Time,
except for any claims under this Agreement, the Merger Agreement and the
agreements and transactions contemplated hereby and thereby, each of the Sprint
Parties releases and forever discharges the UbiquiTel Parties and their respective
officers, directors, shareholders, partners, members, subsidiaries, employees,
agents, attorneys and representatives (the “Sprint Released Parties”) from all liabilities, claims,
attorneys’ fees, damages, injuries, causes of action, and losses of any kind
(including any claims for equitable or injunctive relief) that any of the
Sprint Parties ever had, now has, may assert or may in the future claim to have
against any of the Sprint Released Parties by reason of any act, failure to
act, occurrence or event occurring or existing on or 

  1
 
 
 

before the Effectiveness Time, including but not limited to
all claims that were or could have been asserted in the Litigation (“Sprint’s Claims” and together with UbiquiTel’s
Claims, the “Released
Claims”).

(b) UbiquiTel Release of the Sprint Parties.   As of the Effectiveness
Time, except for any claims under this Agreement, the Merger Agreement and the
agreements and transactions contemplated hereby and thereby, each of the
UbiquiTel Parties releases and forever discharges the Sprint Parties and their respective
officers, directors, shareholders, partners, members, subsidiaries, employees,
agents, attorneys and representatives (the “UbiquiTel Released Parties”) from all liabilities, claims,
attorneys’ fees, damages, injuries, causes of action, and losses of any kind
(including any claims for equitable or injunctive relief) that any of the
UbiquiTel Parties ever had, now has, may assert or may in the future claim to
have against any of the UbiquiTel Released Parties by reason of any act,
failure to act, occurrence or event occurring or existing on or before the
Effectiveness Time, including but not limited to all claims that were or could
have been asserted in the Litigation (“UbiquiTel’s Claims” and together with Sprint’s Claims, the “Released Claims”).

(c) Complete Release.   Effective as of the Effectiveness
Time, this Agreement constitutes the complete compromise, settlement, accord
and satisfaction of all of the Released Claims.

(d) No Release by UbiquiTel
Parties of UbiquiTel Directors, Officers, Etc.   Notwithstanding
anything in this Agreement to the contrary, nothing in this Section 3
shall be construed to be a release by the UbiquiTel Parties of any of their
respective officers, directors, shareholders (other than the Sprint Parties),
partners, members, subsidiaries, employees, agents, attorneys or
representatives.

(e) Dismissal of Litigation.   At the Effectiveness Time, the
Parties will execute and deliver, all to the other Parties, and will file with
the Chancery Court, such documents as may be necessary or desirable to effect
the dismissal with prejudice of the Litigation.

4.    Expenses.   The Parties will pay their own expenses and attorney’s
fees incurred in connection with the Litigation and with the negotiation and
execution of this Agreement.

5.    Performance of Agreements.   Between the Signing Date and the Effectiveness Time,
the UbiquiTel Parties and the Sprint Parties each agree to continue to perform
all obligations under the various commercial agreements in effect between one
or more of the UbiquiTel Parties and one or more of the Sprint Parties.

6.    Stay of Litigation.   No
later than April 20, 2006, the Parties will submit jointly to the Chancery
Court a motion to “stay” the Litigation, and cooperate to cause the Chancery
Court to issue an order granting the stay, such order (i) to provide that
such stay shall not have any effect on the Chancery Court’s ability to take any
action, including the issuance of orders, with respect to the litigation
between the Sprint Parties, Horizon Personal Communications, Inc. and
Bright Personal Communications Services, LLC that was consolidated with the
Litigation for trial purposes and (ii) to be substantially in the form
attached as Exhibit B to this Agreement. So
long as this Section 6 remains in effect, at least ten days prior to the
expiration of any “stay” of the Litigation, the Parties will file jointly with
the Chancery Court motions or stipulations to extend the stay of the litigation
for consecutive 90-day periods, and shall cooperate to cause the Chancery
Court to issue orders granting such extensions. So long as this Section 6
remains in effect, none of the Parties shall seek to modify or withdraw the
stay or take any other action inconsistent with the continuation of such stay
during the term of this Section 6.

7.     Covenant
Not To Sue or To Assist Third Parties.

(a) Covenant by UbiquiTel Parties.   From and after the Signing Date,
so long as this Section 7 remains in effect, except for any claims under
this Agreement, the Merger Agreement and the agreements and transactions
contemplated hereby and thereby, no UbiquiTel Party will (i) commence or
in any manner seek relief against any UbiquiTel Released Party through any suit
or proceeding, (ii) become a party to any 

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suit or proceeding arising from or in connection with an
attempt by or on behalf of any third party to enforce or collect an amount
based on any Released Claim (including, without limitation, any claim that will
become a Released Claim as of the Effectiveness Time), or (iii) assist in
any manner any other Sprint PCS Affiliate in connection with any threatened or
existing litigation such party may have against any Sprint Party; provided
however that an UbiquiTel Party may honor a subpoena if one is issued by a
court of competent jurisdiction. In addition, no UbiquiTel Party will assist
the efforts of any third party attempting to enforce or collect an amount based
on a Released Claim (including, without limitation, any claim that will become
a Released Claim as of the Effectiveness Time), unless required to do so by a
court of competent jurisdiction.

(b) Covenant by Sprint Parties.   From and after the Signing Date,
so long as this Section 7 remains in effect, except for any claims under
this Agreement, the Merger Agreement and the agreements and transactions
contemplated hereby and thereby, no Sprint Party will (i) commence or in
any manner seek relief against any Sprint Released Party through any suit or
proceeding, or (ii) become a party to any suit or proceeding arising from
or in connection with an attempt by or on behalf of any third party to enforce
or collect an amount based on any Released Claim (including, without
limitation, any claim that will become a Released Claim as of the Effectiveness
Time). In addition, no Sprint Party will assist the efforts of any third party
attempting to enforce or collect an amount based on a Released Claim (including,
without limitation, any claim that will become a Released Claim as of the
Effectiveness Time), unless required to do so by a court of competent
jurisdiction.

8.    Contract.   The
Parties understand that the terms in this Agreement are binding contractual
commitments and not mere recitals, and that the Parties are not relying upon
any statement or representation made by any Party released, any such Party’s
agents or attorneys, or any other person, concerning the nature, extent or
duration of any injuries or damages, or concerning any other thing or matter,
but are relying solely and exclusively upon their own knowledge, belief and
judgment.

9.    Additional Facts.   The Parties are aware that they may after the date of
this Agreement discover claims or facts in addition to or different from those
they now know or believe to be true with respect to Released Claims. Nevertheless,
it is the intention of the Parties as of the Effectiveness Time to fully,
finally and forever settle and release all Released Claims, including existing
claims for damages and losses that are presently unknown or unanticipated. In
furtherance of this intention, upon the Effectiveness Time, the releases given
in this Agreement are and will remain in effect as full and complete mutual
releases of Released Claims, notwithstanding the discovery or existence of any
additional or different facts relative to them. Each Party assumes the risk of
any mistake in executing this Agreement and furnishing the releases set forth
in this Agreement. Without limiting the generality of the preceding sentences
in this Section 9, each Party waives and relinquishes, to the extent
permitted by law, any right or benefit that such Party has or might have under
any provision of statutory or non-statutory law that might provide that a
release does not extend to claims that a person does not know or suspect to
exist at the time of execution of the release that, if known, would or might
have materially affected the decision to give the release.

10. Waivers.   No
waiver by a Party of any breach of or default under this Agreement will be
deemed to be a waiver of any other breach or default of any kind or nature of
this Agreement. No acceptance of payment or performance by a Party after any
such breach or default will be deemed to be a waiver of any breach or default
of this Agreement, whether or not such Party knows of such breach or default at
the time it accepts such payment or performance. No failure or delay on the
part of a Party to exercise any right it might have will prevent the exercise
of that right by that Party at any time the other Party continues to be in
default, and no such failure or delay will operate as a waiver of any default.

11.   Other
Provisions.

(a) Governing Law.   All issues and questions
concerning the construction, validity, enforcement and interpretation of this
Agreement will be governed by and construed under Delaware law, without giving 

effect to any choice of law or conflict of law rules or
provisions (whether of Delaware or any other jurisdiction) that would cause the
application of the laws of any jurisdiction other than Delaware.

(b) Jurisdiction.   Each Party irrevocably and
unconditionally submits to the exclusive jurisdiction of the Court of Chancery
or such other appropriate trial court in the State of Delaware, and any
appellate court from such court, in any suit, action or proceeding arising out
of or relating to this Agreement.

(c) Entire Agreement; Binding Effect.   This Agreement constitutes the
entire agreement between the Parties with respect to the subject matter it
covers and supersedes all prior agreements, negotiations, representations and
discussions between the Parties with respect to the subject matter it covers. This
Agreement will be binding on and inure to the benefit of the Parties and their
respective successors and assigns.

(d) Construction.   The Parties participated in the
negotiation and drafting of this Agreement. If any ambiguity or question of
intent or interpretation arises, the Parties intend that (i) this
Agreement be construed as if they had drafted it together, and (ii) no
presumption or burden of proof arises favoring or disfavoring any Party by
virtue of its role in drafting any provision of this Agreement. All pronouns
and any variations of pronouns used in this Agreement refer to the masculine,
feminine or neuter, singular or plural as the identity of the person or persons
require.

(e) Severability.   If any term or provision of this
Agreement is illegal, invalid or unenforceable for any reason whatsoever, that
term or provision will be enforced to the maximum extent permissible so as to
effect the intent of the Parties, and such illegality, invalidity or
unenforceability will not affect the validity, legality or enforceability of
the remainder of this Agreement.

(f) Amendment.   Any amendment to this Agreement
must be in a written document signed by the Parties and must state the intent
of the Parties to amend this Agreement.

(g) No Admission of Liability.   It is expressly understood and
agreed that this Agreement is a compromise of disputed claims and that
execution of, making of payments under, and performing of obligations under
this Agreement are not to be construed as an admission of liability on the part
of any Party.

(h) Counterparts.   This Agreement may be signed in
counterpart or duplicate copy and by facsimile signature, and any signed
counterpart, duplicate or facsimile copy is the equivalent to a signed original
for all purposes.

(i) For Settlement Purposes.   If the Effectiveness Time does not
occur, the Parties agree that Delaware Uniform Rule of Evidence 408 will
apply to this Agreement and none of this Agreement or any negotiations of the
terms of this Agreement will be admissible for any purpose in the Litigation.

(j) Waiver of Jury Trial.   EACH PARTY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE
TO A TRIAL BY JURY IN RESPECT OF ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF
THIS AGREEMENT, AND WHETHER MADE BY CLAIM, COUNTER CLAIM, THIRD PARTY CLAIM OR
OTHERWISE.

(k) Confidentiality.   The Parties agree that neither of
them will disclose the contents of this Agreement, the details or terms of this
settlement, or the fact of this settlement or any matters pertaining to this
settlement unless such disclosure is (i) lawfully required by any
governmental agency; (ii) otherwise required to be disclosed by law; or (iii) necessary
in any legal proceeding in order to enforce any provisions of this Agreement. The
Parties agree that they will notify each other in writing within five (5) calendar
days of the receipt of any subpoena, court order, or administrative order
requiring disclosure of information subject to this non-disclosure provision.

  3
 
 
 

(l) Due Authorization.   The Parties hereby represent and warrant that the
individuals signing this Agreement on their behalf are duly authorized and
fully competent to do so.

(m) Assignment, Predecessors, Successors, and Assigns.   This Agreement shall be binding
upon and shall inure to the benefit of the Parties hereto and their legal
representatives, predecessors, successors, and assigns.

(n) Assignment.   The Parties hereby warrant and
represent that they have not assigned or in any way transferred or conveyed all
or any portion of the claims covered by this Agreement, and to their knowledge,
no other person or entity has a right to any claim that purports to be settled
by this Agreement. The Parties acknowledge and agree that this warranty and
representation is an essential and material term of this Agreement, without
which they would not have entered into it. The Parties each agree to defend and
to hold each other harmless against the claims of any other person or entity
asserting a claim or right that purports to be settled by the Agreement.

[Remainder of page intentionally left blank.]

  4
 
 
 

EACH
PARTY HAS COMPLETELY READ THE TERMS OF THIS AGREEMENT, FULLY UNDERSTANDS THEM
AND VOLUNTARILY ACCEPTS THEM FOR THE PURPOSE OF MAKING FULL AND FINAL COMPROMISE,
ADJUSTMENT AND SETTLEMENT OF ALL CLAIMS, DISPUTED OR OTHERWISE, IN ACCORDANCE
WITH THE TERMS OF THIS AGREEMENT.

	
  

  	
  SPRINT NEXTEL CORPORATION

  
	
   

  	
  By:

  	
  /s/ STEVEN M. NIELSEN

  
	
   

  	
   

  	
  Name: Steven M. Nielsen

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
  SPRINT SPECTRUM L.P.

  
	
   

  	
  By:

  	
  /s/ GARY E. CHARDE

  
	
   

  	
   

  	
  Name: Gary E. Charde

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
  WIRELESSCO, L.P.

  
	
   

  	
  By:

  	
  /s/ GARY E. CHARDE

  
	
   

  	
   

  	
  Name: Gary E. Charde

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
  SPRINT COMMUNICATIONS
  COMPANY L.P.

  
	
   

  	
  By:

  	
  /s/ GARY E. CHARDE

  
	
   

  	
   

  	
  Name: Gary E. Charde

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
  SPRINT TELEPHONY PCS,
  L.P.

  
	
   

  	
  By:

  	
  /s/ GARY E. CHARDE

  
	
   

  	
   

  	
  Name: Gary E. Charde

  
	
   

  	
   

  	
  Title: Vice President

  
	
  [Signature
  Page to Settlement Agreement]

  

  5
 
 
 

 

	
  

  	
  SPRINT PCS LICENSE, L.L.C.

  
	
   

  	
  By:

  	
  /s/ GARY E.
  CHARDE

  
	
   

  	
   

  	
  Name: Gary E. Charde

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
  NEXTEL COMMUNICATIONS,
  INC.

  
	
   

  	
  By:

  	
  /s/ GARY E. CHARDE

  
	
   

  	
   

  	
  Name: Gary E. Charde

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
  UBIQUITEL INC.

  
	
   

  	
  By:

  	
  /s/ DONALD A. HARRIS

  
	
   

  	
   

  	
  Name: Donald A. Harris

  
	
   

  	
   

  	
  Title: President and Chief Executive Officer

  
	
   

  	
  UBIQUITEL OPERATING
  COMPANY

  
	
   

  	
  By

  	
  /s/ DONALD A. HARRIS

  
	
   

  	
   

  	
  Name: Donald A. Harris

  
	
   

  	
   

  	
  Title: President and Chief Executive Officer

  

 

[Signature Page to Settlement Agreement]

  6
 
 

 

EXHIBIT A

FORM OF MERGER AGREEMENT

[see attached]

 A-1

 

EXHIBIT B

(Same Order for
Injunction Action) 

DELAWARE
COURT OF CHANCERY

	
  UBIQUITEL INC. and UBIQUITEL 

  OPERATING COMPANY, 

   

  Plaintiffs,

  v.

   

  SPRINT CORPORATION, SPRINT

  SPECTRUM, L.P., WIRELESSCO, L.P., SPRINT

  COMMUNICATIONS COMPANY L.P., SPRINT

  TELEPHONY PCS, L.P., SPRINT PCS LICENSE,

  L.L.C,. and NEXTEL COMMUNICATIONS, INC.,

   

  Defendants.

  __________________________________________

  	
  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  )

  	
  Case
  No. C.A. No 1489-N

   

  Vice-Chancellor
  Parsons

  

 

 B-1
 

ORDER

This matter coming to be heard on the Joint Motion for
Entry of a Stay, the Court being advised that the parties have entered into a
Settlement Agreement pursuant to which the parties intend to dismiss this
action with prejudice upon the consummation of the Merger pursuant to the
Merger Agreement (as defined in the Settlement Agreement); and

The parties further having advised the Court that they
expect that the relevant transactions will be consummated in the second quarter
of 2006, but that contingencies beyond the control of the parties may prevent
consummation within that time;

IT IS HEREBY ORDERED THAT:

1.   All proceedings in this action are
temporarily stayed until the earlier of (a) December 31, 2006 and (b) the
termination of the Merger Agreement (as defined in the Settlement Agreement) in
accordance with its terms; provided, however, that this stay shall not apply to any proceedings
in the action brought by Horizon Personal Communications, Inc. and Bright
Personal Communications Services, LLC against certain of the defendants and
consolidated with this action for purposes of trial.

2.   On or before December 21, 2006, the
parties shall submit a joint status report concerning the status of the
transactions; and

3.   At
any time on or before December 31, 2006, the parties may apply to the
Court to extend the stay for good cause shown.

	
   

  	
  ENTER:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Honorable Vice-Chancellor Parsons

  

 

 B-2

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