Document:

Exhibit 10.3

 

PURSUANT TO REG.
S-K ITEM 601, CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT IS (I) IS NOT MATERIAL AND (II) WOULD
BE COMPETITIVELY HARMFUL IF PUBLICALY DISCLOSED 

 

 

 

SUBSCRIPTION LICENCE ORDER FORM

 

This Order Form is subject to the terms
of that certain Amended and Restated Subscription License and Services Agreement between NEC PAYMENTS B.S.C. (CLOSED) (“NECP”)
and APPTECH CORP. (“Licensee”) dated as of 11 February 2021 with an effective date of 18 December 2020
(the “Agreement”). All terms used but not otherwise defined herein shall have the meaning ascribed to such terms
in the Agreement. In the event of a conflict, the terms of this Order Form control over the terms of the Agreement.

 

Capitalized terms not defined in this
Order Form are defined in the Agreement. In the event the capitalized terms in this Order Form differ from the terminology used
in the Agreement, references herein to: “Subscription Software” and “Component Systems” shall
have the same meaning, refer to the computer software identified this Order Form and may be referred to in the Agreement as Component
Systems, Products, Software Products, Subscription Software, Software, Standard Software, Programs or Licensed Programs; “Support”
may be referred to in the Agreement as Support, Maintenance and Support, Annual Support, Support Services, On-Going Support or
One Point Support; and “License Restriction” means any limitation on the use of the Subscription Software and
may be referred to in the Agreement as License Restriction.

 

		1.	Subscription Software

 

	 	Subscription
Software	Quantity	License
Restriction*	Support
Level**
	 	 	4	Instance	 
	1	Core
Database	250,000	Account
Limit	ESCIS
	 	 	100,000,000	Transaction
Limit	 
	2	Tokenisation
Database	4	Instance	ESCIS
	3	Administration
Database	4	Instance	ESCIS
	4	COA
Database	4	Instance	ES

	5	OLTP
Auth Service	8	Instance	ESCIS

	6	Batch
Processing Service	8	Instance	ES
	7	Key
Database, Key Service, and Key UI	4	Instance	ESCIS
	8	Configuration
and Administration UI	4	Instance	ES
	9	Notification
Service and Notification UI	4	Instance	ES
	10	API
and Micro-Services	4	Instance	ESCIS
	11	FinCon
UI	2	Instance	ES
	12	Compliance
and Sanctions UI	2	Instance	ES
	13	CRM
UI	2	Instance	ES
	14	Virtual
Card UI	2	Instance	ES

 

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For the purpose of the definitions below,
Component System and Subscription Software may be used interchangeably.

 

* License Restrictions (where
specified in the License Restriction field):

 

“Instance”
= Quantity represents the maximum number of database or server instances that the software component may be deployed into. Database
or server instances may be deployed as single nodes or in clusters. Where deployed in clusters each node of each cluster shall
be classed as a single license for the purposes of calculating the quantity of licenses used.

 

“Account Limit”
= Quantity represents the maximum number of account records stored within the database at any given point in time.

 

“Transaction Limit”
= Quantity represents the maximum number of transactions records storied within the database at any given point in time.

 

**Support
Level for Subscription Software:

 

ESCIS
= Essential Support (ES) and Critical Incident Support (“CIS”) 

 

During the Subscription Term specified,
Licensee is eligible to receive the standard NECP Subscription Services for Support which it makes generally available to its subscription
customers, and in addition, customer is eligible to receive CIS 24 hours a day x 7 days a week support for severity 1 issues. A
severity 1 level incident means that the production system is not available or that the production system is available but a critical
application failure has occurred and business processes are halted and no workarounds are available.

 

ES = Essential Support

 

During the Subscription Term, Licensee
is eligible to receive the standard support that NECP makes generally available to its subscription customers inclusive of up to
thirty (30) man days of support time in any one twelve (12) month period.

 

		2.	Subscription Term and Subscription Fees

 

Initial Subscription Term: 

 

The Initial Subscription Term shall
commence ten (10) days from the date of Funding and shall endure for a period of Five (5) Years thereafter.

 

Subscription Fees:

 

		A.	License Subscription Fee: One-time fee of USD [****]
([*****] United States Dollars) for licenses relating to the use of the Subscription Software during the Initial Subscription
Term inclusive of up to thirty (30) man days of engineering and implementation resources for Customisations.
		B.	Annual Maintenance Subscription Fees: Annual fee of USD[*****]
([****] United States Dollars) relating to the maintenance and support of the Subscription Software during each twelve (12)
month period of the Subscription Term inclusive of ES and CIS.
		C.	Subscription Services Fees: 

 

		1)	Project Management and Implementation Fees: One-time fee of
USD[*****] ([*****] United States Dollars) for professional services relating to the deployment and configuration
of the Subscription Software.
		2)	Infrastructure Implementation Fees: One-time fee of USD[*****]
([****] United States Dollars) for professional services relating to the set-up of the application hosting environment.
		3)	Training Fees: One-time fee of USD[****] ([****]
United States Dollars) for professional services relating to the training of Authorised Users in the Subscription Software inclusive
of up to 30 man days of training time during the Initial Subscription Term.
		4)	Infrastructure Support Fees: Monthly fee of USD[****]
([****] United States Dollars) for professional services relating to the on-going support and maintenance of the application
hosting environment inclusive of up to 10 man days per month of ES and CIS.
		5)	Infrastructure Hosting Fees: Set-up and recurring fees from
NECP’s Hosting Partner relating to the utilisation of cloud computing services in the application hosting environment shall be
passed on to the Licensee at cost.

 

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Subscription Fees Increase Cap:

 

The percentage increase in Subscription Fees during Renewal
Terms shall not exceed 5% per annum with such increases to take effect from the start of the first Renewal Term.

 

		3.	Invoice and Payment Terms:

 

The following payment terms shall apply to Subscription
Fees:

 

		A.	License Subscription Fee: Payable 50% within ten (10) days
of the date of Funding but no later than 5th March 2021 and 50% on the Subscription Service Ready Date.
		B.	Annual Maintenance Subscription Fees: Payable annually in
advance within ten (10) days of the date of Funding but no later than 5th March 2021 and each anniversary thereafter
for the duration of this Agreement.
		C.	Subscription Services Fees: 

 

		1)	Project Management and Implementation Fees: Payable 50% within
ten (10) days of the date of Funding but no later than 5th March 2021 and 50% on the Subscription Service Ready Date.
		2)	Infrastructure Implementation Fees: Payable 50% within ten
(10) days of the date of Funding but no later than 5th March 2021 and 50% on the Subscription Service Ready Date.
		3)	Training Fees: Payable 50% within ten (10) days of the date
of Funding but no later than 5th March 2021 and 50% on the Subscription Service Ready Date.
		4)	Infrastructure Support Fees: Payable monthly in arrears commencing
on the Subscription Service Ready Date.
		5)	Infrastructure Hosting Fees: Payable monthly in advance commencing
on the date that the services of the Hosting Partner are first utilised.

 

Unless otherwise stated, all invoices
are due for settlement within thirty (30) days of the date of the invoice except for invoices relating to Infrastructure Hosting
Fees which are to be settled immediately on the invoice date.

 

Unless excluded by applicable law, NECP
reserves the right to issue invoices electronically.

 

		4.	Equity Compensation

 

As further consideration for the grant
of the License in accordance with the terms of the Agreement, Licensee shall cause the Equity Compensation to be issued to NECP
in accordance with Section 4(c) of the Agreement.

 

		5.	Additional Terms

 

Service Level Description is
attached hereto and made a part of this Order Form at Exhibit 1.

 

Subscription Software is described
in the document attached hereto and made a part of this Order Form at Exhibit 2.

 

“Subscription Service Ready
Date” shall be approximately ninety (90) days from the date of Funding and is the date that the Subscription Software
will be accessible in the application hosting environment. This date is not synonymous with any Licensee launch or Go Live Date
which shall at the determination of the Licensee.

 

“Hosting Partner”:
NECP’s Hosting Partner may be Amazon Web Services or Microsoft Azure and the application hosting environment may be configured
in up to two (2) regions subject at all times to License Restrictions.

 

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Marketing Communications: In
consideration for the pricing and terms under this Order Form and the Agreement, NECP may make reference to Licensee as a customer
in press releases and written and verbal communications. Licensee agrees to act as a reference for NECP, including participating
in reference calls and other reference activities as may be reasonably requested by NECP. Further, in consideration for the pricing
and terms under this Order Form and the Agreement, Licensee may make reference to NECP as a partner in press releases and written
and verbal communications. NECP agrees to act as a reference for Licensee, including participating in reference calls and other
reference activities as may be reasonably requested by Licensee.

 

		6.	Customisations

 

The following Customisations have been agreed and shall be
developed and deployed by NECP:

 

		A.	No Customisations have been agreed and documented at the Effective Date, however Licensee may
avail up to up to thirty (30) man days of engineering and implementation resources inclusive in the License Subscription Fee. 

 

		7.	Additional Licenses and Services and Associated Subscription Fees

 

Option to Extend License Restrictions

 

Licensee may extend License Restrictions
subject to the payment of the following additional Subscription Fees:

 

		A.	Account Limit: Licensee may extend the
maximum number of account records stored within the database at any given point in time beyond the License Restriction quantity
by paying an additional monthly fee of USD0.00250 (one quarter of a United States Dollar Cent) per account record in excess of
the License Restriction quantity per month. Such additional monthly account fees to be invoiced monthly in arrears.
		B.	Transaction Limit: Licensee may extend
the maximum number of transaction records stored within the database at any given point in time beyond the License Restriction
quantity by paying an additional fee of USD0.00100 (one tenth of a United States Dollar Cent) per transaction record in excess
of the License Restriction quantity. Such additional transaction fees to be invoiced monthly in arrears.
		C.	Instances: Licensee may extend the quantity
of instances of each Subscription Software item subject to the following annual License Subscription Fees:

 

	 	Subscription
Software	Additional
Annual License Subscription Fee per Instance
	1	Core
Database	USD[****]
([****] United States Dollars)
	2	Tokenisation
Database	USD[****]([****]
United States Dollars)
	3	Administration
Database	USD[****]([****]
United States Dollars)
	4	COA
Database	USD[****]([****]
United States Dollars)
	5	OLTP
Auth Service	USD[****]([****]
United States Dollars)
	6	Batch
Processing Service	USD[****]([*****]
United States Dollars)
	7	Key
Database, Key Service, and Key UI	USD[****]
([****] United States Dollars)
	8	Configuration
and Administration UI	USD[****]
([****] United States Dollars)
	9	Notification
Service and Notification UI	USD[****]([****]
United States Dollars)
	10	API
and Micro-Services	USD[****]
([****] United States Dollars)
	11	FinCon
UI	USD[****]
([****] United States Dollars)
	12	Compliance
and Sanctions UI	USD[****]
([****] United States Dollars)
	13	CRM
UI	USD[****]
([****] United States Dollars)
	14	Virtual
Card UI	USD[****]([****]
United States Dollars)

 

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N.B. Annual Maintenance Subscription
Fees shall be applicable at the rate of 15% of the additional annual License Subscriptions Fees per annum for all additional
License instances.

 

		D.	Optional Customization

 

In the event a Customization
related to the Patent License is agreed and documented during the term of the Agreement, NECP shall provide a perpetual license
and source code for all such development Customisations for so long as Licensee remains in compliance with the Agreement and pay
all fees due to NECP. Upon termination of the Agreement, the perpetual license for each such Customization will be available for
a fee of US$50,000 per instance. Licensee shall be entitled to enhance, operate, compile and sell licensed products based upon
the code. However, Licensee is restricted from reselling the source code itself.

 

		8.	Optional Additional Professional Services

 

Licensee may avail additional
professional services resources from NECP to extend the amount of ES and CIS man hours available, to enable additional Customisations,
or to use consulting services to enable the Licensee to achieve its product and commercial objectives subject to the following
rates per man day:

 

	 	-	Engineering Resources: USD[****] ([****] United States Dollars) per man day
	 	-	Implementation Resources: USD[****] ([****] United States Dollars) per man day
	 	-	Project Management Resources: USD[****] ([****] United States Dollars) per man day
	 	-	Infrastructure Support Resources; USD[****] ([****] United States Dollars) per man day
	 	-	Software Support Resources; USD[****] ([****] United States Dollars) per man day

  

THE PARTIES have executed this Order Form through the signatures
of their respective authorized representatives on 11 February 2021.

 

	NECP:	 	LICENSEE:
	NEC PAYMENTS B.S.C. (CLOSED)	 	APPTECH CORP.
	 	 	 
	/s/ Fuad Nonoo	 	/s/ Luke D’Angelo
	Fuad Nonoo	 	Luke D’Angelo
	Chairman and Authorized Person	 	Interim Chief Executive Officer and Executive Director

 

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Exhibit 1 to Order Form

 

Service Level Description

 

Infrastructure

 

The services are deployed within an
application hosting environment that is high-availability and redundant by design and built upon cloud computing services provided
by NECP’s Hosting Partner, Amazon Web Services or Microsoft Azure. The Subscription Software License quantities enable the services
to be deployed into dual cloud computing regions to enable active-active, or active-passive fail over for data replication, disaster
recovery, and business continuity planning.

 

Technical Change Management

 

NECP maintains change management system
to ensure review and controlled implementation of changes that NECP may make from time to time in the support of the services.

 

Scheduled Maintenance

 

The services shall be subject to routine
monitoring and scheduled maintenance to validate and maintain service levels. NECP makes commercially reasonable efforts to establish
maintenance windows during times that minimize impact to the services and Licensee’s users. While most of NECP’s maintenance can
be completed during regularly scheduled maintenance windows, from time to time emergency maintenance must be performed outside
of the scheduled maintenance windows to maintain the integrity and security of the services. In such cases, NECP will provide Licensee’s
primary point of contact as much advance notice of the planned maintenance as is technically feasible. The regularly scheduled
weekly maintenance windows and any period of unavailability due to maintenance for which Licensee is given at least 24 hours advance
notice is considered “Scheduled Maintenance”.

 

Availability

 

NECP’s goal is to provide access to
and continuity of the services twenty-four hours per day, seven days a week, except during Scheduled Maintenance. Notwithstanding
anything to the contrary in the Agreement, NECP’s service level objective for Subscription Software is 99.9% Availability measured
on a monthly basis and service level credits will be paid based on a monthly prorated fee. For example, a 5% service level credit
shall be equal to 5% of 1/12 of the 12 month annual maintenance subscription fee.

 

Availability for the Subscription Software
is measured as a percentage of Scheduled Available Minutes.

 

		●	“Scheduled Available Minutes” are the total minutes in a month
less the number of Scheduled Maintenance minutes in the applicable month.
		●	“Available Minutes” is the number of Scheduled Available Minutes
in a month less the aggregate number of minutes the Subscription Services were unavailable outside of Scheduled Maintenance.
		●	“Availability” is a percentage calculated as the Available Minutes
in a month divided by the Scheduled Available Minutes in the month).

 

The following shall not be considered
periods of unavailability for purposes of the Availability calculation:

 

	 	●	Outages due to factors
outside of NECP’s reasonable control (for example, a failure at Licensee’s site, between Licensee and the application
hosting environment, and or a failure related to the cloud computing services provided by the Hosting Partner);
	 	●	Delays in email or SMS
transmission to or from the hosted application; 
	 	●	Connectivity issues
outside of NECP’s direct control (e.g. DNS issues); 
	 	●	Force Majeure events;

	 	●	Outages attributable
to the acts or omissions of Licensee or Licensee’s employees, agents, contractors, or vendors, or anyone gaining access
to the services means of UserIDs or equipment controlled by Licensee;
	 	●	Periods of Down Time
at Licensee’s request;
	 	●	Outages that result
from Licensee’s equipment, software, or other technology and/or third party equipment, software or other technology; and
	 	●	Performance degradation
due to Licensee’s use of the services in excess of the scope of Licensee’s license, usage restrictions, or product
limitations outlined in the applicable Agreement.

 

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Exhibit 2

Overview of Subscription Software

 

		1.	Core Database

The Core Database is the central system
database that stores account, transactional and rules data, service configuration parameters, logs and associated stored procedures
and technical process logic.

 

		2.	Tokenisation Database

The Tokenisation Database is the encrypted
tokenisation database that stores and manages the validation of sensitive card data elements and associated stored procedures and
technical process logic.

 

		3.	Administration Database

The Administration Database is the system
database that stores program and customer profile configurations, API configurations, customer and user data, multi-factor authentication
access credentials, compliance and sanctions data and associated stored procedures and technical process logic.

 

		4.	COA Database

The COA database replicates essential
account and transactional data from the Core Database and provides additional data storage, stored procedures and technical process
logic related to financial control, reconciliation and reporting functions.

 

		5.	OLTP Auth Service

The OLTP Auth Service is the Card Association
authorization-handling module. It manages incoming authorization traffic from Card Associations; validates structural integrity
of the messages; exchanges data with other services and databases to complete transaction validation and authorization and compiles
the response messages to the relevant source Card Association.

 

		6.	Batch Processing Service

The Batch Processing Service is the
Card Association settlement-handling module and processes other batch files related to Card Association operations. It manages
incoming clearing files from Card Associations; validates structural integrity of the messages; exchanges data with other services
and databases to complete settlement transaction posting and matching. It handles outbound chargeback files to the Card Associations
and other batch files including card and PIN creation and file processing for external manufacture, personalization and fulfilment
vendors.

 

		7.	Key Database, Key Service and Key UI

The Key Database, Service and UI is
a virtual security module that provides key storage, key injection/rotation, and cryptographic services for all other Subscription
Software components.

 

		8.	Configuration and Administration UI

The Configuration and Administration
UI provides configuration and monitoring tools for the Subscription Software components as well as workflow interfaces for the
configuration of programs, products and transaction processing rules.

 

		9.	Notification Service and Notification UI

The Notification Service and UI provides
integration with external email, SMS and mobile push message services, configuration of those external services, and an API to
enable all other Subscription Software components to manage outbound notification through a single integration point.

 

		10.	API and Micro-Services

A RESTful API framework and Micro-Services
provide an integration point for external software and channels that is used for administration, customer servicing and non-Card
Association transaction channels. Additional non-API Micro-Services are operated as standalone service components to manage specific
operational processes and connections with external transaction networks that cannot be integrated via the RESTful API framework.

 

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		11.	FinCon UI

The FinCon UI is based upon a configurable
IFRS/GAAP standard double-entry general ledger and provides a suite of multi-currency, multi-program financial control, reconciliation,
and exception management tools to automate financial operations and provide an audit trail of all financial control activities.

 

		12.	Compliance and Sanctions UI

KYC, AML and Sanctions workflow tools
to facilitate customer on-boarding with maker/checker control framework and filterable transaction monitoring tools to handle transaction
alerts and suspicious transaction reporting.

 

		13.	CRM UI

Customer relationship management UI
to enable call centre and other front and back office teams to have access to customer account and transaction data and controls
necessary to provide customer services activity.

 

		14.	Virtual Card UI

The virtual card UI is a web portal
that enables the configuration and operation of virtual card services targeted at B2B supplier payments.

 

	A&R NECP SLSA Order
    Form (2021-2)	Page 8 of 8	CONFIDENTIALExhibit 10.1

     

   
  

     

  
    EXECUTION VERSION

     

      

  

   
  
    TRANSITION AGREEMENT

     

    THIS TRANSITION AGREEMENT (this “Agreement”), dated as of February 18, 2021, is entered
      into by and between Frontier Communications Corporation, a Delaware corporation (the “Company”), and Bernard L. Han (the “Executive”).

     

    WHEREAS, the Executive currently serves as President and Chief Executive Officer of the Company and a member of the Board of Directors of the Company
      (the “Board”) pursuant to that certain Employment Agreement, dated as of December 3, 2019 (the “Employment Agreement”), by and
      between the Company and the Executive;

     

    WHEREAS, it is the intent of the parties that the Executive remain on the Board through the Plan Effective Date (as defined below);

     

    WHEREAS, the Company and the Executive have mutually agreed that: (a) the Executive’s employment with the Company shall cease as of the effective date
      of the Company’s Plan of Reorganization (which, for purposes hereof, means the Fifth Amended Joint Plan of Reorganization of Frontier Communications Corporation and its Debtor
        Affiliates Pursuant to Chapter 11 of the Bankruptcy Code [Docket No. 984], as modified, amended, or supplemented from time to time) (such date, the “Plan Effective Date”); (b)
      during the period commencing on the date hereof and ending on March 4, 2021 (or such earlier date that the Executive’s successor commences employment as President and Chief Executive Officer of the Company) (the “Transition Date”), the Executive shall continue to serve in his current position as President and Chief Executive Officer of the Company; and (c) to ensure an orderly transition of the Executive’s duties and responsibilities,
      the Executive shall continue to serve as a Senior Advisor to the Company during the period commencing on the Transition Date and ending on the Plan Effective Date; and

     

    WHEREAS, the Company and the Executive now desire to enter into a mutually satisfactory arrangement concerning, among other things, the Executive’s
      employment by the Company through the Plan Effective Date, the Executive’s separation from service with the Company on the Plan Effective Date, and other matters related thereto.

     

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

     

    	

             	1.	
            Transition Period.

          

     

    (a)        Term. The term of the Executive’s employment hereunder shall commence on the date hereof and end on the Plan Effective Date (the “Transition
              Period”), unless terminated earlier pursuant to Section 3.

     

    (b)        Positions and Duties During Transition Period.

     

    (i)          During

          the period commencing on the date hereof and ending on the Transition Date, the Executive shall continue to serve as President and Chief Executive Officer of the Company, reporting to the Board, in accordance with Section 2 of the Employment
          Agreement.

     

    
      

      
        

      

    

    
    (ii)         Effective as of the Transition Date and by virtue of executing this Agreement, and without any further action by the Executive, the Executive hereby resigns his position as President and Chief Executive Officer of the Company.

     

    (iii)        During the period commencing on the Transition Date and ending on the Plan Effective Date, the Executive shall serve as a Senior Advisor to the Company and shall provide general advisory services with respect to the business of the
          Company generally, and as to specific matters with respect to which he has knowledge, as reasonably requested by the Board or the Chief Executive Officer of the Company.

     

    (c)        Acknowledgment. From and after the date hereof, the Executive hereby waives any right to resign from the Company and its affiliates for Good Reason (as defined in the Employment Agreement)
          or a similar term of like meaning for purposes of any employee benefit plan, agreement, policy, or arrangement (including, without limitation, the Employment Agreement) of the Company and its affiliates. The Executive also hereby acknowledges
          that neither the occurrence of the Plan Effective Date nor the consummation of the transactions contemplated by the Plan of Reorganization shall be deemed to constitute a “change in control” or similar term for any purpose, including under the
          Employment Agreement or under any of the Company’s compensation and benefit programs.

     

    2.         Compensation and Benefits During Transition Period. During the Transition Period, subject to the Executive’s continued employment with the Company and his compliance with the terms of this
          Agreement, the Executive shall continue to be eligible to receive the compensation and benefits set forth in Sections 3(a), 3(b), 3(d), 3(e), and 3(f) of the Employment Agreement pursuant to the terms thereof.

     

    3.         Termination of Employment.

     

    (a)        Plan Effective Date. The Executive’s employment with the Company shall, by virtue of executing this Agreement and without any further action by the Company or the Executive, terminate on the
        Plan Effective Date.

     

    (b)        Death. The Executive’s employment shall terminate automatically upon the Executive’s death during the Transition Period.

     

    (c)        By the Company. The Company may terminate the Executive’s employment during the Transition Period with Cause (as defined in the Employment Agreement) in accordance with Section 4(c) of the
        Employment Agreement.

     

    (d)        By the Executive. The Executive may terminate the Executive’s employment during the Transition Period without Good Reason in accordance with Section 4(f) of the Employment Agreement.

     

    
      

      -2-

      
        

      

    

    (e)       Termination Date. For purposes of this Agreement, “Termination Date” means: (i) if the Executive’s employment is terminated by the
          Executive without Good Reason (as defined in the Employment Agreement), the date that is 60 days following delivery by the Executive of notice in accordance with Section 4(f) of the Employment Agreement (it being understood and agreed that the
          Company may make the Termination Date effective earlier in accordance with Section 4(f) of the Employment Agreement); (ii) if the Executive’s employment is terminated by the Company with Cause, the date on which the Company notifies the Executive
          of such termination; (iii) if the Executive’s employment is terminated by reason of death, the date of death; and (iv) if the Executive’s employment terminates in accordance with Section 3(a),
          the Plan Effective Date.

     

    (f)         Resignation from All Positions. The Termination Date shall be deemed to be the date of separation from service, and the date that employment ends, for purposes of this Agreement and any
          applicable plans or programs, including, without limitation, the Employment Agreement. The Executive further acknowledges that, effective on the Termination Date and by virtue of executing this Agreement, and without any further action by the
          Executive, the Executive hereby resigns the Executive’s position as President and Chief Executive Officer of the Company or Senior Advisor, as applicable, as a member of the Board, and as a member of the board of directors of, or as a director,
          manager, officer, or any other position with, any subsidiary or affiliate of the Company.

     

    	

             	4.	
            Payments upon Termination of Employment.

          

     

    (a)        Any Termination. Upon any termination of the Executive’s employment, the Executive shall be entitled to the Accrued Benefits (as defined in the Employment Agreement), including, for the
          avoidance of doubt, all accrued but unpaid vacation pay as of the Separation Date.

     

    (b)        Termination on the Plan Effective Date or due to Death. In addition, if the Executive’s employment with the Company terminates on the Plan Effective Date in accordance with Section 3(a) or due to the Executive’s death in accordance with Section 3(b), then, subject to the Executive’s execution and
          non-revocation of a general release of claims in the form attached as Exhibit A to the Employment Agreement (the “Release”) in accordance with (and subject to) Section 4(g) of the
          Employment Agreement, the Company shall pay or provide the Executive with the following:

     

    (i)          An amount in cash equal to $1,300,000, payable in monthly installments over the 12-month period commencing on the Plan Effective Date; provided, however, that the first such payment shall not be made until the Release becomes non-revocable pursuant to Section 4(g) of the Employment Agreement and such first payment shall include any
        amounts that would otherwise have been payable between the Plan Effective Date and the date of such first payment; and provided, further,
        that, if the period that the Executive has to consider and revoke the Release pursuant to Section 4(g) of the Employment Agreement commences in one calendar year and ends in a subsequent calendar year, then the first such payment shall not be made
        until the second calendar year.

     

    
      

      -3-

      
        

      

    

    (ii)        A
          pro rata portion of the Executive’s incentive compensation opportunity for the calendar year in which the Termination Date occurs in an amount equal to (A) $6,700,000 multiplied by (B)
          a fraction, the numerator of which is the number of days elapsed in such calendar year through the Termination Date and the denominator of which is 365, which amount shall be paid in cash in a lump sum within 60 days following the Plan Effective
          Date.

     

    (iii)        An amount in cash equal to portion of the Executive’s aggregate incentive compensation award under the Company’s Performance-Based Incentive Program for 2020 that was deferred pursuant to the Order (I) Approving the Debtors’ Performance-Based Incentive Programs for Insider and Non-Insider Participants and (II) Authorizing the Debtors to Pay Certain Restricted Cash Awards to Non-Insider Participants
          [Docket No. 741], which amount shall be paid on the Company’s first regularly scheduled payroll date following the date on which the Release becomes non-revocable.

     

    (iv)          Subject to the Executive’s (A) timely election of continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”),

        and (B) continued copayment of premiums at the same level and cost to the Executive as if the Executive were an employee of the Company (excluding, for purposes of calculating cost, an employee’s ability to pay premiums with pre-tax dollars),
        continued participation in the Company’s group health plan (to the extent permitted under applicable law and the terms of such plan) that covers the Executive (and the Executive’s eligible dependents) for a period of 12 months following the Plan
        Effective Date at the Company’s expense; provided that the Executive is eligible and remains eligible for COBRA coverage; provided,
        further, that the Company may modify the continuation coverage contemplated herein to the extent reasonably necessary to avoid the imposition of any excise taxes on the Company for failure
        to comply with the nondiscrimination requirements of the Patient Protection and Affordable Care Act of 2010, as amended, and/or the Health Care and Education Reconciliation Act of 2010, as amended (to the extent applicable); and provided, further, that, if the Executive obtains other employment that offers substantially comparable group health benefits, such
        continuation of coverage by the Company hereunder shall immediately cease.

     

    The Executive acknowledges that other than the amounts set forth in this Section 4, the Executive is not
      entitled to receive any additional compensation or benefits from the Company in connection with the Executive’s separation from service with the Company (including, without limitation, any payments under Section 4(e) of the Employment Agreement).

     

    5.        Restrictive Covenants; Cooperation. The Executive acknowledges and agrees that the restrictive covenants set forth in Section 5 of the Employment Agreement and the cooperation provisions set
          forth in Section 6 of the Employment Agreement shall remain in full force and effect following the Termination Date in accordance with their respective terms. During such time that the Executive is receiving Severance Benefits (as defined in the
          Employment Agreement), if the Executive materially breaches any restrictive covenant set forth in Section 5 of the Employment Agreement (and such breach is not cured, to the extent susceptible of cure (as determined in the Board’s good faith
          discretion), within 30 days following the Company’s written notice thereof to the Executive), the Executive’s right to receive the Severance Benefits shall immediately cease and be forfeited.

     

    
      

      -4-

      
        

      

    

    6.         Section 409A. It is intended that this Agreement shall comply with the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the Treasury Regulations relating thereto, or an exemption to Section 409A of the Code. Any payments that qualify for the “short-term deferral” exception or “separation pay” exception shall be paid under such
          exception. For purposes of Section 409A of the Code, each payment under this Agreement shall be treated as a separate payment for purposes of the exclusion for certain short-term deferral amounts. In no event may the Executive, directly or
          indirectly, designate the calendar year of any payment under this Agreement. Notwithstanding anything to the contrary in this Agreement, all reimbursements provided under this Agreement shall be made or provided in accordance with the
          requirements of Section 409A of the Code, including, where applicable, the requirement that: (a) any reimbursement is for expenses incurred during the Executive’s lifetime (or during a shorter period of time specified in this Agreement); (b) the
          amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other calendar year; (c) the reimbursement of an eligible expense will be made no later than the last day of the
          calendar year following the year in which the expense is incurred; and (d) the right to reimbursement is not subject to liquidation or exchange for another benefit. Notwithstanding the foregoing, neither the Company nor any of its affiliates or
          successors shall have any obligation to indemnify or otherwise hold the Executive harmless from any or all taxes or penalties imposed under Section 409A of the Code.

     

    	

             	7.	
            Miscellaneous.

          

     

    (a)        Successors and Assigns. This Agreement is personal to the Executive and, without the prior written consent of the Company, shall not be assignable by the Executive. This Agreement and any
          rights and benefits hereunder shall inure to the benefit of and be enforceable by the Executive’s legal representatives, heirs, or legatees. This Agreement and any rights and benefits hereunder shall inure to the benefit of and be binding upon
          the Company and its successors and assigns.

     

    (b)        Withholding. The Company may withhold from any amounts payable under this Agreement such federal, state, local, or foreign taxes as shall be required to be withheld pursuant to any
          applicable law or regulation.

     

    (c)        Governing Law. The provisions of this Agreement shall be construed in accordance with the internal laws of the State of Delaware, without regard to the conflict of law provisions of any
          state.

     

    (d)        Dispute Resolution. Section 17 of the Employment Agreement shall apply to this Agreement, mutatis mutandis, as though fully set forth herein.

     

    (e)       Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, and this
          Agreement shall be construed as if such invalid or unenforceable provision were omitted (but only to the extent that such provision cannot be appropriately reformed or modified).

     

    
      

      -5-

      
        

      

    

    (f)         Amendment; Entire Agreement. No provision of this Agreement may be amended, modified, waived, or discharged unless such amendment, modification, waiver, or discharge is agreed to in writing
          and such writing is signed by the Company and the Executive. From and after the date hereof, this Agreement shall supersede any other agreement between the parties with respect to the subject matter hereof (including, without limitation, the
          Employment Agreement).

     

    (g)        Waiver of Breach. No waiver by any party hereto of a breach of any provision of this Agreement by any other party, or of compliance with any condition or provision of this Agreement to be
          performed by such other party, shall operate or be construed as a waiver of any subsequent breach by such other party of any similar or dissimilar provisions and conditions at the same or any prior or subsequent time. The failure of any party
          hereto to take any action by reason of such breach shall not deprive such party of the right to take action at any time while such breach continues.

     

    (h)        Notices. Section 9 of the Employment Agreement shall apply to this Agreement, mutatis mutandis, as though fully set
        forth herein.

     

    (i)         Headings. The headings of this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

     

    (j)         Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.

     

    [Signature Page Follows]

     

    
      

      -6-

      
        

      

    

    IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered as of the date first above written.

     

    	 	
            FRONTIER COMMUNICATIONS CORPORATION

          
	 	 
	 	
            By:

          	
            /s/ Anne Meyer

            

          
	 	 	
            Name: Anne Meyer

          
	 	 	
            Title: Senior Vice President, Corporate Secretary and Acting Head of Human Resources

          
	 	 
	 	
            /s/ Bernard L. Han

          
	 	
            Bernard L. Han

          

    

       

    
      

      

      [Signature Page to Transition Agreement]

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