Document:

TWTC 1Q14 Exhibit 10.1

Exhibit 10.1

tw telecom inc.
FIRST AMENDMENT TO AMENDED AND RESTATED 
2000 EMPLOYEE STOCK PLAN
This First Amendment to the Amended and Restated 2000 Employee Stock Plan (this “Amendment”), dated January 29, 2014, is made and entered into by tw telecom inc., a Delaware corporation (the “Company”).   Defined terms used in this Amendment and not otherwise defined herein shall have the meanings set forth in the Company’s Amended and Restated 2000 Employee Stock Plan dated June 4, 2009 (the “Plan”).
WHEREAS, Section 13 of the Plan permits the Company’s Board of Directors (the “Board”) to modify or amend the Plan in such respects as it deems advisable; and
WHEREAS, the Board desires to amend Section 14.4 of the Plan to adopt additional performance goals, metrics and adjustment criteria.
NOW, THEREFORE, as of this 29th day of January 2014, in accordance with Section 13 of the Plan, the Company hereby amends the Plan as follows:
		
	1.
	The second sentence of Section 14.4 of the Plan is hereby amended and restated in its entirety as follows:

“For purposes of this Plan, the term “Qualifying Performance Criteria” shall mean any one or more of the following performance criteria, either individually or in any combination, applied to either the Company as a whole or to a business unit or Subsidiary, either individually or in any combination, and measured either annually or cumulatively over a period of years, expressed in absolute amounts, on a per share basis (basic or diluted), relative to one or more other performance metrics, as a growth rate or change from preceding periods, or as a comparison to the performance of specified companies or a published or special index (including stock market indices) or other external measures, as specified by the Committee in the Performance Award: (a) cash flow, levered or unlevered as defined in the Company’s earnings releases, (b) earnings per share; (c) Modified EBITDA as defined in the Company’s earnings releases; (d) return on equity; (e) total stockholder return; (f) share price performance;  (g) return on capital; (h) return on assets or net assets; (i) revenue;  (j) income or net income; (k) operating income or net operating income; (l) operating profit or net operating profit; (m) operating margin, Modified EBITDA margin, or profit margin; (n) return on operating revenue; (o) return on invested capital; (p) product release schedules; (q) working capital; (r) ratio of debt to stockholders’ equity; (s) customer retention; (t) pre-tax earnings; (u) cost control; (v) sales; (w) capital expenditures; (x) new product innovation, (y) market share, (z) service revenue, (aa) operating expenses, (bb) balance of cash, cash equivalents and marketable securities, (cc) days sales outstanding, (dd) revenue from specified products or product categories, (ee) industry standing or recognition, (ff) employee retention, (gg) growth in customer base, (hh) equity appreciation, (ii) network expansion implementation, (jj) launch or enhancement of systems, and (kk) measures of customer satisfaction.”  

		
	2.
	The fourth sentence of Section 14.4 of the Plan is hereby amended and restated in its entirety as follows:

“When establishing performance goals for any performance period, the Committee may provide that one or more objectively determinable adjustments shall be made to the Qualifying Performance Criteria on which the performance goals are based, which may include adjustments that would cause such measures to be considered non-GAAP financial measures within the meaning of Rule 101 under Regulation G promulgated by the Securities and Exchange Commission, such as excluding the impact 

of specified unusual or nonrecurring events, including, but not limited to, any amounts or charges relating to any of the following events that occur during a performance period: (i) asset write-downs, 
(ii) litigation or claim judgments or settlements, (iii) the effect of changes in tax law, accounting principles or other such laws or provisions affecting reported results, (iv) accruals for reorganization and restructuring programs, (v) any transaction not in the ordinary course of business and not included in the Company’s original Board approved forecast for the fiscal year in question, (vi) debt extinguishment costs, (vii) executive retirement or similar costs not included in the company’s original Board approved forecast for the fiscal year in question, and (viii) any non-recurring items as described in the Company’s quarterly earnings press release or management’s discussion and analysis of financial condition and results of operations appearing in the Company’s Securities Exchange Act filings.” 
		
	3.
	Except as expressly amended by this Amendment, the Plan shall continue in full force and effect in accordance with the provisions thereof.

IN WITNESS WHEREOF, the duly authorized representative of the Company has executed this Amendment.

tw telecom inc. 
Plan Sponsor
By: /s/ Larissa Herda 
Name: Larissa Herda
Title: Chairman and Chief Executive OfficerTWTC 1Q14 Exhibit 10.2

Exhibit 10.2
FIRST AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT
FIRST AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT by and between tw telecom holdings inc. (the “Company”) and Tina Davis (the “Employee”), dated as of May 5, 2014 (this “Amendment”).
WHEREAS, the Company and the Employee previously entered into the Amended and Restated Employment Agreement (the “Agreement”), dated as of June 18, 2013 (the “Effective Date”)  in connection with Employee’s promotion to the position of Senior Vice President and General Counsel;
WHEREAS, in order to correct the initial term to reflect the original intent of the parties, the Company and the Employee wish to amend Section 1 of the Agreement to change the initial term from three-years from the Effective Date to two-years from the Effective Date; and
WHEREAS, the Company is desirous of continuing to employ the Employee and to correct the initial term of the Agreement, and the Employee is desirous of being employed by the Company under the amended terms of the Agreement, and for good and valuable consideration.
NOW, THEREFORE, for good and valuable consideration, the parties hereby agree as follows:
1.    Capitalized Terms.  All capitalized undefined terms used herein shall have the meanings assigned thereto in the Agreement.
2.    Amendment.  Section 1 of the Agreement is hereby amended and restated in its entirety as follows:
“1. Term.
(a)    Employment Period.  The Company hereby agrees to continue to employ the Employee, and the Employee hereby agrees to continue to serve the Company, subject to the terms and conditions of this Agreement, for the period commencing on the Effective Date and ending on the two-year anniversary thereof (the “Employment Period”); provided that, on such two-year anniversary of the Effective Date and each two-year anniversary of such date thereafter (such date and each annual anniversary thereof, the “Renewal Date”), unless previously terminated in accordance with the provisions of Section 3 hereof, the Employment Period shall be automatically extended so as to terminate two years from such Renewal Date, unless, at least sixty (60) days prior to the Renewal Date, the Company shall give notice to the Employee that the Employment Period shall not be so extended.”

3.    Effectiveness.  This Amendment shall be effective as of the date first written above.
4.    Limited Effect.  Except as expressly provided herein, the Agreement shall remain unmodified and in full force and effect.
5.     Counterparts.  This Amendment may be executed by one or more of the parties to this Amendment on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 
6.    Governing Law.  This Amendment shall be governed by and construed in accordance with the laws of the State of Delaware, without reference to principles of conflict of laws.

[Signature Page Follows]

IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to Amended and Restated Employment Agreement to be executed as of the day and year first written above.

TINA DAVIS

/s/ Tina Davis

tw telecom holdings inc.

By: /s/ Larissa Herda 
Name: Larissa Herda 
Title:  Chairman & Chief Executive OfficerTWTC 1Q14 Exhibit 10.3

Exhibit 10.3
FIRST AMENDMENT TO SECOND AMENDED AND RESTATED  
CHANGE OF CONTROL EMPLOYMENT AGREEMENT
FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CHANGE OF CONTROL EMPLOYMENT AGREEMENT (the “Change of Control Agreement”), by and between tw telecom inc., a Delaware corporation (the “Company”), and Tina Davis (the “Employee”), dated as of May 5, 2014 (this “Amendment”).
WHEREAS, the Company and the Employee previously entered into the Second Amended and Restated Change of Control Employment Agreement (the “Change of Control Agreement”), dated as of June 18, 2013 in connection with Employee’s promotion to the position of Senior Vice President and General Counsel;
WHEREAS, tw telecom holdings inc., a Delaware corporation (“Holdings”) and the Employee previously entered into the Amended and Restated Employment Agreement (the “Employment Agreement”) on June 18, 2013 (the “Employment Agreement Date”), with an initial term of three years from such date;
WHEREAS, concurrently with the execution of this Amendment, Holdings and the Employee will amend the Employment Agreement to change the initial term from three years to two years from the Employment Agreement Date;
WHEREAS, in order to reflect the original intent of the parties, the Company and the Employee now wish to amend the definition of “Change of Control Period” set forth in Section 1 of the Change of Control Agreement to change the initial term from the three-year anniversary of the Employment Agreement Date to the two-year anniversary of such date; and
WHEREAS, the Company desires to provide Employee with compensation and benefits arrangements upon a Change of Control that ensure that the compensation and benefits expectations of Employee will be satisfied and that such arrangements will be competitive with those of other corporations, and Employee is desirous of being employed by the Company’s subsidiary, Holdings, under the amended terms of the Change of Control Agreement.
NOW, THEREFORE, for good and valuable consideration, the parties hereby agree as follows:
1.    Capitalized Terms.  All capitalized undefined terms used herein shall have the meanings assigned thereto in the Change of Control Agreement.
2.    Amendment.  Section 1(b) of the Change of Control Agreement is hereby amended and restated in its entirety as follows:

(b) “Change of Control Period” means the period commencing on June 28, 2013 (the “Employment Agreement Date”) and ending on the two-year anniversary of the Employment Agreement Date; provided, however, that, commencing on the date two years after the Employment Agreement Date, and on each two-year anniversary of such date (such date and each two-year anniversary thereof, the “Renewal Date”), the Change of Control Period shall be automatically extended so as to terminate two years from such Renewal Date, unless, at least sixty (60) days prior to the Renewal Date, the Company shall give notice to the Employee that the Change of Control Period shall not be so extended; provided, however, that if during such sixty (60) day period prior to the Renewal Date, the Company has entered into a nondisclosure agreement with a third party for the purpose of conducting negotiations, and is in the process of conducting negotiations, with respect to a possible transaction, which, if consummated, would constitute a Change of Control, the Company may not give notice to the Employee of non-renewal unless Cause for termination exists within the meaning of Section 4(b) of this Agreement.
3.    Effectiveness.  This Amendment shall be effective as of the date first written above.
4.    Limited Effect.  Except as expressly provided herein, the Change of Control Agreement shall remain unmodified and in full force and effect.
5.     Counterparts.  This Amendment may be executed by one or more of the parties to this Amendment on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 
6.    Governing Law.  This Amendment shall be governed by and construed in accordance with the laws of the State of Delaware, without reference to principles of conflict of laws.

[Signature Page Follows]

IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to Second Amended and Restated Change of Control Agreement to be executed as of the day and year first written above.

TINA DAVIS

/s/ Tina Davis

tw telecom inc.

By: /s/ Larissa Herda 
Name: Larissa Herda 
Title:  Chairman and Chief Executive Officer

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