Document:

exv10w40

 

EXHIBIT 10.40

VTR GLOBALCOM S.A.

2006 PHANTOM SAR PLAN

GRANT AGREEMENT FOR U.S. TAXPAYERS

     This Phantom SAR Plan Grant Agreement (the “Agreement”) is entered into by VTR GlobalCom S.A.
(the “Company”) and Mauricio Ramos (the “Grantee”), in accordance with the VTR GlobalCom S.A. 2006
Phantom SAR Plan (the “Plan”). Capitalized terms used but not defined herein shall have the
meaning ascribed to such terms under the Plan.

     The Plan provides for the grant of SARs to certain individuals, including Grantee. The
Committee appointed under the Plan has approved the SAR grant described below. The Company and the
Grantee hereby agree as follows:

1. Grant of SARs. Subject to the terms and conditions set forth in this Agreement and the
Plan, the Company hereby grants to the Grantee 170,000 SARs.

2. Grant Date. The Grant Date of the SARs granted under this Agreement is June 25, 2007.

3. Vesting Commencement Date. The Vesting Commencement Date of the SARs granted under this
Agreement is January 1, 2007.

4. SAR Expiration Date. The SAR Expiration Date of the SARs granted under this Agreement
is the earlier of (a) the 180th day after the final vesting date of the SARs as set
forth in Section 6 below or (b) July 1, 2010.

5. Base Value. The Base Value of each SAR granted under this Agreement is CLP$12.588 per
share.

6. Vesting. The SARs granted under this Agreement shall vest in semi-annual installments
of 16.67% of the original number of SARs granted on the same day of the month as the Vesting
Commencement Date (or if the same day is not present in a month, on the last day of such month) in
each sixth calendar month following the Vesting Commencement Date (each, a “Vesting Date”) provided
that the Grantee must be an employee of the Company on such semi-annual vesting date to receive
vesting credit for the six-month period then ending. In no event shall any payments of vested SARs
be made prior to the Settlement Date as defined herein in Section 7(a).

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7. Exercise and Payment.

     (a) Vested SARS will be automatically exercised on the date (“Exercise Date”) that is the
earlier of (i) the day immediately following delivery of the Valuation Report determining Net
Company Value and Per Share Value as of December 31, 2009, which date shall not be later than June
1, 2010, and (ii) the date of Grantee’s termination of employment with the Company. The SARs are
not exercisable at any time other that the time specified in this Section 7(a).

     (b) For each vested SAR the Company shall pay to Grantee, on or before the date that is 30
days following the Exercise Date, the amount by which the Per Share Value exceeds the Base Value of
such SAR. Notwithstanding anything to the contrary in the Plan, the Per Share Value shall be the
value determined as of the last date of each fiscal year of the Company, whether or not the Company
is Publicly Traded.

     (c) The obligation of the Company to pay any amount to the Grantee with respect to any SARs
that have been exercised shall be subject to all applicable laws, rules, and regulations and such
approvals by governmental agencies as may be deemed appropriate by the Company.

8. Withholding of Tax. The Committee may make such provisions as it may deem appropriate
for the withholding of any taxes which it determines to be required in connection with the payment
for SARs.

9. Agreement Subject to Plan. This Agreement is subject to the terms and conditions of the
Plan, which is incorporated by reference. The Plan contains terms and conditions in addition to
those set forth herein. In the event of inconsistencies, except as specifically set forth herein,
the Plan shall govern this Agreement. The Committee shall have the authority to interpret and
construe any SAR pursuant to the terms of the Plan, and its decisions shall be conclusive.

10. No Employment or Other Rights. The grant of any SAR shall not confer upon the Grantee
any right to be retained in the employ of the Company or any Subsidiary or other affiliate of the
Company.

11. Assignment and Transfers. The rights and interests of the Grantee under this Agreement
may not be sold, assigned, pledged, encumbered, or otherwise transferred, either voluntarily or
involuntarily, except, in the event of the death of the Grantee, by will or by the laws of descent
and distribution. In the event of any attempt by the Grantee to alienate, assign, pledge,
hypothecate, or otherwise dispose of any SAR or any right hereunder, except as provided for in this
Agreement, or in the event of the levy or any attachment, execution or similar process upon

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the rights or interests hereby conferred, the Company may terminate such SAR by notice to the
Grantee, and such SAR and all rights hereunder shall thereupon become null and void. The rights
and protections of the Company hereunder shall extend to any successors or assigns of the Company
and to the Company’s parents, subsidiaries, and affiliates. The Company may assign this Agreement
without the Grantee’s consent.

12. Amendment. Notwithstanding any other provision hereof, this Agreement may be
supplemented or amended from time to time as approved by the Committee.

13. Beneficiary Designation. In the event of the death of the Grantee, the Grantee
designates the Person or Persons named on Exhibit A as the Grantee’s Beneficiary. The Grantee may
change his or her Beneficiary designation only by giving written notice of such change to the
Committee in accordance with the terms of the Plan prior to the Grantee’s death.

14. Section 409A. Notwithstanding any provision of the Agreement to the contrary, the
following provisions shall apply for purposes of complying with Section 409A of the Internal
Revenue Code and applicable Treasury authorities (“Section 409A”):

     (a) If Grantee is a “specified employee,” as such term is defined in Section 409A and
determined as described below in this Section 13(a), any payments payable as a result of Grantee’s
Termination (other than for Grantee’s death or Disability) shall not be payable before the earlier
of (i) the date that is six months after Grantee’s termination, (ii) the date of Grantee’s death,
or (iii) the date that otherwise complies with the requirements of Section 409A. This Section
13(a) shall be applied by accumulating all payments that otherwise would have been paid within six
months of Grantee’s termination and paying such accumulated amounts at the earliest date which
complies with the requirements of Section 409A. Grantee shall be a “specified employee” for the
twelve-month period beginning on April 1 of a year if Grantee is a “key employee” as defined in
Section 416(i) of the Internal Revenue Code (without regard to Section 416(i)(5)) as of December 31
of the preceding year or using such dates as designated by the Committee in accordance with Section
409A and in a manner that is consistent with respect to all of the Company’s nonqualified deferred
compensation plans. For purposes of determining the identity of specified employees, the Company
may establish such procedures as it deems appropriate in accordance with Section 409A.

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     (b) The Grantee and the Company agree that this Agreement is intended to comply with Section
409A and that any ambiguous provisions will be construed in a manner that is compliant with or
exempt from the application of Section 409A. Grantee and the Company agree that if a provision of
the Agreement would result in the imposition of an applicable tax under Section 409A, such
provision may be reformed to avoid imposition of the applicable tax and no action taken to comply
with Section 409A shall be deemed to adversely affect Grantee’s rights or benefits hereunder.

IN WITNESS WHEREOF, the Company has caused its duly authorized officers to execute this Agreement,
and the Grantee has executed this Agreement.

	 	 	 	 	 
	 	

VTR GLOBALCOM S.A.

 	 
	 	By:  	 	 
	 	 	 	 
	 	 	 	 
	 

I hereby accept the SARs described in this Agreement, and I agree to be bound by the terms of the
Plan and this Agreement. I hereby further agree that all the decisions and determinations of the
Committee and the Valuation Committee shall be final, binding, and conclusive.

	 	 	 	 	 
	 

	 	Grantee:	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Date:	 	 
	 

	 	 	 	 

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Exhibit A

Beneficiary Designation

Primary Beneficiary:

	 	 	 	 	 
	 

	 	Name:	 	 
	 

	 	 	 	 

	 	 	 	 	 
	 

	 	Address:	 	 
	 

	 	 	 	 

	 	 	 	 	 
	 

	 	Telephone Number:	 	 
	 

	 	 	 	 

	 	 	 	 	 
	 

	 	Social Security Number:	 	 
	 

	 	 	 	 

	 	 	 	 	 
	 

	 	Relationship to Grantee:	 	 
	 

	 	 	 	 

Secondary Beneficiary: (Applicable if Primary Beneficiary predeceases the Grantee)

	 	 	 	 	 
	 

	 	Name:	 	 
	 

	 	 	 	 

	 	 	 	 	 
	 

	 	Address:	 	 
	 

	 	 	 	 

	 	 	 	 	 
	 

	 	Telephone Number:	 	 
	 

	 	 	 	 

	 	 	 	 	 
	 

	 	Social Security Number:	 	 
	 

	 	 	 	 

	 	 	 	 	 
	 

	 	Relationship to Grantee:	 	 
	 

	 	 	 	 

I hereby name the Beneficiaries set forth above to receive my SAR benefits in the event of my
death.

	 	 	 	 	 
	 

	 	Grantee:	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Date:exv10w44

 

Exhibit 10.44

ASSIGNMENT AND ASSUMPTION AGREEMENT

     This
Assignment and Assumption Agreement (this
“Assignment”), dated as of August 15,
2007, is from Old UGC, Inc., a Delaware corporation formerly known as UnitedGlobalCom, Inc. (the
“Assignor”), and UnitedGlobalCom, Inc, a Delaware corporation (the “Assignee”), and
relates to that certain Split Dollar Life Insurance Agreement (the “Split Dollar
Agreement”) made effective on February 15, 2001, between Assignor and Mark L. Schneider, Tina
M. Wildes and Carla G. Shankle, as trustees under The Gene W. Schneider 2001 Trust, dated February
12, 2001 (the “Trust”). Capitalized terms used but not defined herein have the meanings
given to them in the Split Dollar Agreement.

RECITALS:

     WHEREAS, the Assignor desires to assign all of its rights and delegate all of its obligations
under the Split Dollar Agreement to Assignee and Assignee desires to accept such assignment and to
assume all obligations of the Assignor under the Split Dollar Agreement; and

     WHEREAS, the Trust desires to consent to the assignment by the Assignor to Assignee of all of
its rights and the delegation of its obligations under the Split Dollar Agreement in accordance
with this Assignment and to the release of all obligations of the Assignor owed to the Trust under
the Split Dollar Agreement.

     NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and promises
contained herein and for other good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged, the parties hereto agree as follows:

     1. Assignment and Assumption.

          (a) The Assignor hereby assigns to the Assignee all of the Assignor’s right, title and
interest in, to and under the Split Dollar Agreement, including the Corporation’s Interest in each
Policy and any and all interests of the Assignor in any collateral assignments referred to in
Section 3 of the Split Dollar Agreement that have been executed in favor of Assignor.

          (b) The Assignee hereby assumes each and every obligation of the Assignor under the Split
Dollar Agreement and hereby agrees for the benefit of the Trust to perform each such obligation.

          (c) As a result of the foregoing assignment and assumption and in accordance with Section 7 of
the Split Dollar Agreement, the Assignee shall be substituted for the Assignor as a party to the
Split Dollar Agreement and all obligations of the Assignor owed under the Split Dollar Agreement
are hereby released and forever discharged.

     2. Governing Law. This Assignment shall be governed by and construed in accordance with the
laws of the State of Colorado, regardless of the laws that might otherwise govern under applicable
principles of conflicts of laws.

     3. Entire Agreement; Binding Effect. This Assignment contains the entire understanding by and
among the parties hereto with respect to the subject matter hereof and shall be binding upon and
shall inure to the benefit of the parties hereto, and their respective successors and assigns.

 

 

     IN WITNESS WHEREOF, the parties hereto have caused this Assignment to be executed by their
respective duly authorized officers as of the day and year first above written.

	 	 	 	 	 
	 	OLD UGC, INC.

 	 
	 	By:  	/s/
John Babb	 
	 	 	Name:  	John Babb	 
	 	 	Title:  	VP	 
	 
	 	UNITEDGLOBALCOM, INC.

 	 
	 	By:  	/s/
Elizabeth M. Markowski	 
	 	 	Name:  	Elizabeth M. Markowski	 
	 	 	Title:  	SVP	 
	 

CONSENT TO ASSIGNMENT AND RELEASE

     Mark L. Schneider, Tina M. Wildes and Carla G. Shankle, as trustees under the Trust, hereby
consent on behalf of the Trust to (i) the assignment by the Assignor to Assignee of all of its
rights and the delegation of all of its obligations under the Split Dollar Agreement in accordance
with the foregoing Assignment; (ii) the substitution of the Assignee for the Assignor as a party to
the Split Dollar Agreement; and (iii) the release and discharge of all obligations owed by the
Assignor under the Split Dollar Agreement.

	 	 	 	 	 
	 	/s/
Tina M. Wildes	 
	 	Tina M. Wildes, as trustee under The Gene W.
Schneider 2001 Trust dated February 12, 2001  	 
	 	 	 
	 	/s/
Mark L. Schneider	 
	 	Mark L. Schneider, as trustee under The Gene W.
Schneider 2001 Trust dated February 12, 2001
 	 
	 	 	 
	 	/s/
Carla G. Shankle	 
	 	Carla G. Shankle, as trustee under The Gene W. Schneider 2001 Trust dated February 12, 2001

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