Document:

Form of Amendment No. 2 to the Employment Agreement

 Exhibit 10.1 
  
 AMENDMENT NO. 2 
 TO 
 EMPLOYMENT AGREEMENT 
  
 This Amendment No. 2, dated as of March 15, 2005 (the “Amendment”) to the Employment Agreement dated as of March 19, 2003, as amended by
Amendment No. 1 thereto (together, the “Agreement”) by and among SPRINT CORPORATION, a Kansas corporation (“SPRINT”), SPRINT/UNITED MANAGEMENT COMPANY, a Kansas corporation and subsidiary of SPRINT
(“SUMC”) (SPRINT, SUMC and their subsidiaries are collectively referred to herein as the “Company”), and Gary D. Forsee (“Executive”). Capitalized terms, if not otherwise defined herein, have the
meanings set forth in or provided by the Agreement, including in said Amendment No. 1. 
  
 W I T N E S S E T H: 
  
 WHEREAS, Sprint and Executive have determined to amend the Agreement as set forth below, to be effective upon and following the Effective Time.

  
 NOW, THEREFORE, in consideration of the premises and of the
covenants and agreements set forth herein and for other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the Company and Executive agree as follows, conditioned upon and subject to the consummation of
the Merger: 
  
 1. Section 2.01 of the Agreement is hereby
amended and restated as follows. 
  
 “Section 2.01. Base Salary. The Company shall pay Executive an annual base salary (the “Base Salary”) at the annual rate of $1,400,000, payable in equal monthly installments or otherwise in accordance with the
payroll and personnel practices of the Company from time to time. Base Salary shall be reviewed annually by the Board or a committee thereof to which the Board may from time to time have delegated such authority (the “Committee”)
for possible increase (but not decrease) in the sole discretion of the Board or the Committee, as the case may be.” 
  
 2. Section 2.02(a)(i) of the Agreement is hereby amended in its entirety to read as follows: 
  
 “With respect to each fiscal year in the Employment
Term, Executive shall be eligible to participate in the Company’s Short-Term Incentive Plan, with a target bonus opportunity of not less than 170% of Base Salary (the “Basic Bonus Amount”) and a maximum bonus opportunity of
200% of the Basic Bonus Amount. For 2005, the target annual bonus opportunity shall be the sum of $2,040,000 prorated for the portion of the year prior to the consummation of the Merger and 

 $2,380,000 for the portion of the year after such consummation. Except as provided in Section 2.02(a)(ii)
or as may be payable pursuant to Article 3, Executive is not guaranteed the payment of any annual bonus.” 
  
 3. Article 2 of the Agreement is hereby amended by adding thereto a new Section 2.02A reading as follows: 
  
 “Following the Effective Time, Executive shall
participate in a long-term incentive plan (the “LTIP”) providing for the grant of equity and/or cash-based awards such as options, restricted shares, restricted share units and performance awards denominated in cash or shares. Awards to
Executive under the LTIP will be determined by the Committee in its discretion, provided that (i) the target value for the first annual award under the LTIP to Executive after the Effective Time shall not be less than $10,000,000, (ii) the
guideline target value of the second such annual award shall be $10,000,000, and (iii) each such annual award shall be performance-based.” 
  
 4. Article 6 of the Agreement is hereby amended by adding thereto a new Section 6.17 reading as follows: 
  
 “The intent of the parties is that the compensation
arrangements under this Agreement will be in full compliance with Section 409A of the Internal Revenue Code (“409A”) and the parties agree that to the extent any provision hereof would be in violation thereof it will be adjusted in such
manner as the parties will mutually agree to be in compliance with 409A and to maintain the intent hereof to the maximum extent possible.” 
  
 5. Unless specifically modified herein, all other terms and conditions of the Agreement shall remain in effect. 
  
 [Signature Page Follows] 
  

 2 

 IN WITNESS WHEREOF, the Company and Executive have executed this Agreement, to be effective as provided
in the recitals hereto. 
  

					
	 	  	SPRINT CORPORATION
			
	 /s/ Gary D. Forsee

	  	By:	 	  

	Gary D. Forsee	  	Name:	 	 
	 	  	Title:	 	 
		
	 	  	SPRINT/UNITED MANAGEMENT COMPANY
			
	 	  	By:	 	  

	 	  	Name:	 	 
	 	  	Title:	 	 

  

 3Form of Award Agreement

 Exhibit 10.2 
  
 Award Agreement 
  
 THIS AWARD AGREEMENT (the “Agreement”) is entered into as of
                    , 2005 (the “Grant Date”), by and between SPRINT CORPORATION, a
Kansas corporation (together with its direct and indirect subsidiaries, “Sprint”) and
                                 (the “Executive”), an
employee of Sprint for the grant of options and restricted stock units with respect to Sprint’s FON Common Stock, par value $2.00 per share (“FON Stock”). 
  
 IN CONSIDERATION of the mutual covenants and agreements set forth in this Agreement, the parties agree to the
following. 
  
 1. Defined Terms Incorporated from 1997 Long-Term Stock
Incentive Program 
  
 Capitalized terms used in this Award Agreement and not
defined herein shall have the meanings set forth in Sprint’s 1997 Long-Term Stock Incentive Program (the “Program”). 
  
 2. Grant of Stock Options 
  
 Sprint hereby grants to Executive under the Program options to buy
                     shares of FON Stock at a strike price of $            
per share (the “Option”). Subject to paragraph 4.01 below, the Option becomes exercisable at a rate of 25% of the total number of shares subject to purchase on each of the first four anniversaries of the Grant Date and expires on
the 10th anniversary of the Grant Date. The Option is governed by, and this Agreement hereby incorporates, the
Standard Terms of Options set forth in Section 6(g) of the Program except (i) as provided in Section 4 below, and (ii) that the strike price of $             was set at 110% of the
Fair Market Value of one Share of FON Stock on the Grant Date. 
  
 3. Grant of
Restricted Stock Units 
  
 Sprint hereby grants to Executive under the
Program                      FON restricted stock units (the “RSUs”). Each RSU represents the unsecured right to require
Sprint to deliver to Executive one share of FON Stock. Subject to paragraphs 4.01 and 4.02, with respect to 100% of the RSUs, the “vesting date” and “initial delivery date” is on the third anniversary of the Grant Date. The RSUs
are governed by, and this Agreement hereby incorporates, the Standard Terms of Other Stock Unit Awards set forth in Section 9(c) of the Program except as provided in Section 4 below. 
  
 4. Terms different from Standard Terms 
  
 4.01 Vesting contingent on consummation of Sprint Nextel merger. Neither the RSUs nor any part of the Option will vest before the Effective Time (as defined
in the Agreement and Plan of Merger among Sprint Corporation, Nextel Communications, Inc., and S-N Merger Corp. dated December 15, 2004) and the Option and RSUs will be cancelled in the event the merger agreement is terminated. 
  
 4.02 Performance adjustment. Subject to discretion of the Compensation
Committee of Sprint’s Board of Directors, the number of RSUs in Section 3 will be adjusted by multiplying that number by a payout percentage (from 0% to 200%) based on achievement of financial objectives relating to enterprise economic value
added (EVA) during 2005 (the “Performance Adjustment”). If the proposed merger with Nextel Communications, Inc., is completed before year-end 2005, full year EVA performance will be calculated by dividing actual year-to-date
performance through the most recent full month before the close of the merger by budgeted year-to-date performance for the same period and multiplying the quotient by the 2005 full year budget. The Performance Adjustment will be made as soon as
practicable after year-end 2005. If Executive remains an employee of Sprint throughout 2005, cash dividends on the FON Stock underlying these RSUs during 2005 will be paid to Executive as soon as practicable after the Performance Adjustment. These
cash dividends will be calculated by first adjusting the RSUs by the Performance Adjustment and then applying the dividend rate for each quarterly dividend for which Executive held the RSUs, as adjusted, on each dividend record date. After the
Performance Adjustment is made, if cash dividends are paid on the underlying FON Stock, Executive will receive cash dividends for RSUs held on the dividend record date as provided in Section 9(c) of the Program. 
  
 4.03 Section 280G of the Internal Revenue Code. The limitation on
acceleration of vesting under Section 6(g)(viii) and Section 9(c)(iv) of the Program, relating to payments or benefits contingent on a change in control within the meaning of Code Section 280G, does not apply to the Option or RSUs. 
  
 5. Plan Information 
  
 Executive hereby acknowledges having read the 1997 Long-Term Stock Incentive Program Plan Information Statement dated February 2005
available on line at http://ppld.corp.sprint.com/hr/comp/ec.html. To the extent not inconsistent with the provisions of this Agreement, the terms of such information statement and the Program are hereby incorporated by this reference.

 IN WITNESS WHEREOF, Sprint has caused this Agreement to be executed by its
duly authorized officer and the Executive has executed the same as of the Grant Date. 
  

			
	SPRINT CORPORATION
		
	 By:
	 	  

	 	 	Authorized Officer
		
	 	 	

	 	 	, “Executive”Executive Employment Agreement

 Exhibit 10.1 
  
 AMENDMENT NO. 1 TO 
 EXECUTIVE EMPLOYMENT AGREEMENT 
  
 This AMENDMENT NO. 1 TO EXECUTIVE EMPLOYMENT AGREEMENT (the “Amendment”) is made and entered into this 10th day of March, 2005, to be effective as of January 1, 2005, by and between ABC
BANCORP, a Georgia corporation (“Employer”), and EDWIN W. HORTMAN, JR., an individual resident of the State of Georgia (“Executive”). 
  
 WITNESSETH: 
  
 WHEREAS, Employer and Executive have entered into that certain Executive Employment Agreement dated as of December 31, 2003 (the
“Agreement”); and 
  
 WHEREAS, Employer and
Executive wish to amend the Agreement as provided herein; 
  
 NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements herein, the parties hereto do hereby agree as follows: 
  
 SECTION 1. Amendments to Agreement. The Agreement is hereby amended as follows: 
  
 (a) Section 1 of the Agreement is hereby amended by deleting such section in
its entirety and replacing it with the following: 
  
 “1.
Employment. Upon the terms and subject to the conditions set forth in this Agreement, Employer employs Executive as its President and Chief Executive Officer, and Executive hereby accepts such employment.” 
  
 (b) The first sentence of Section 2 of the Agreement is hereby amended by
deleting such sentence in its entirety and replacing it with the following: 
  
 “Executive agrees to serve as the President and Chief Executive Officer of Employer as set forth in Section 1 hereof and to perform such duties as may reasonably be assigned to him by the Board of Directors (the
“Board”) of Employer; provided, however, that such duties shall be of the same character as those generally associated with the office held by Executive.” 
  
 (c) The first sentence of Section 4(A) of the Agreement is hereby amended by deleting such sentence in its entirety and
replacing it with the following: 
  
 “Executive shall
receive an annual salary of Two Hundred Fifty Thousand Dollars ($250,000.00) (“Base Compensation”) payable at regular intervals in accordance with Employer’s normal payroll practices now or hereafter in effect.” 

 SECTION 2. Representations, Warranties and Acknowledgements. Each party hereto represents,
warrants and acknowledges to the other party hereto that (a) no interest in the Agreement has been sold, hypothecated, assigned or otherwise transferred by such party, and there are no defaults by such party under the Agreement as of the date
hereof; and (b) except as otherwise expressly set forth herein, such party did not rely and has not relied upon any representation, warranty, acknowledgement or statement made by such other party or by any of such other party’s agents,
representatives or attorneys with regard to the subject matter, basis or effect of this Amendment. 
  
 SECTION 3. Effect on Agreement. Except as otherwise specifically provided herein, the Agreement shall not be amended and shall remain in
full force and effect. 
  
 SECTION 4. Binding Effect;
Headings. The covenants contained herein shall bind, and the benefits hereof shall inure to, the respective heirs, personal representatives, successors and permitted assigns, as the case may be, of the parties hereto. The Section headings
contained in this Amendment are for reference purposes only and will not affect in any way the meaning or interpretation of this Amendment. 
  
 SECTION 5. Governing Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of
Georgia, without regard to the conflicts of laws principles thereof. 
  
 SECTION 6. Counterparts. This Amendment may be executed simultaneously in counterparts, each of which will be deemed an original, and all of which together will constitute one and the same instrument. Executed counterparts may
be delivered via facsimile transmission. 
  
 [Signature Page
Follows] 
  

 2 

 IN WITNESS WHEREOF, Executive has executed and delivered this Amendment, and Employer has caused
this Amendment to be executed and delivered by its duly authorized officer, all as of the day and year first above written. 
  

			
	 /s/ Edwin W. Hortman, Jr.

	EDWIN W. HORTMAN, JR.
	
	ABC BANCORP
		
	By:	 	 /s/ Cindi H. Lewis

	 	 	Executive Vice President and Corporate Secretary

  

 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00080-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00080-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00080-of-00352.parquet"}]]