Document:

EX-10.12 AMENDMENT NO.5 TO PARTNERSHIP AGREEMENT

 

Exhibit 10.12

AMENDMENT NO. 5 TO THE

LIMITED PARTNERSHIP AGREEMENT OF

TEXAS AND KANSAS CITY CABLE PARTNERS, L.P.

          AMENDMENT No. 5 (this “Amendment”) TO THE LIMITED PARTNERSHIP AGREEMENT OF TEXAS AND
KANSAS CITY CABLE PARTNERS, L.P. (the “Partnership”), dated as of February 28, 2005, among
Time Warner Entertainment-Advance/Newhouse Partnership, a New York general partnership
(“TWE-A/N”), TWE-A/N Texas Cable Partners General Partner LLC, a Delaware limited liability
company (“TWE-A/N GP”), TCI Texas Cable Holdings LLC, a Colorado limited liability company
(“TCI”), TCI Texas Cable, LLC, a Colorado limited liability company formerly known as TCI
Texas Cable, Inc. (“TCI GP”), Time Warner Entertainment Company, L.P., a Delaware limited
partnership (“TWE”), Comcast TCP Holdings, LLC, a Delaware limited liability company
(“LCM LLC”), TCI of Overland Park, Inc., a Kansas corporation (“Overland Park”),
and Comcast TCP Holdings, Inc., a Delaware corporation (“Comcast Newco”) as successor in
interest to Overland Park.

          WHEREAS the Partnership was formed by TWE-A/N, TWE-A/N GP, TCI and TCI GP pursuant to a
Limited Partnership Agreement, dated as of June 23, 1998 (the “Original TCP Agreement”);

          WHEREAS, the Original TCP Agreement was amended by Amendment No. 1 thereto, dated as of
December 11, 1998, Amendment No. 2 thereto, dated as of May 16, 2000, Amendment No. 3 thereto,
dated as of August 23, 2000, and Amendment No. 4 thereto, dated as of May 1, 2004 (as amended, the
“Partnership Agreement”);

          WHEREAS, pursuant to Section 3(b) of that certain Agreement of Merger and Transaction
Agreement, dated as of December 1, 2003 and amended by Amendment No. 1, dated as of December 19,
2003 (as amended, the “Transaction Agreement”), among the Partnership, Kansas City Cable
Partners, formerly a Colorado general partnership, TWE-A/N, TWE-A/N GP, TWE, TCI, TCI GP, TCI of
Missouri, Inc. (formerly known as Liberty Cable of Missouri, Inc.), a Missouri corporation, LCM
LLC, Overland Park, Comcast Corporation, a Pennsylvania corporation (solely for purposes of being
bound by Sections 3 and 6(p) thereof), and Time Warner Cable Inc., a Delaware corporation (solely
for purposes of being bound by Sections 3 and 6(p) thereof), TWE and TWE-A/N have executed and
delivered a Contribution Agreement dated as of the date hereof pursuant to which, among other
things, TWE has contributed 100% of its Interest in the Partnership to TWE-A/N in exchange for
preferred interests in TWE-A/N (all such actions, the “TWE Transfer”);

          WHEREAS, pursuant to Section 3(c) of the Transaction Agreement (or as otherwise consented to
by TWE-A/N, TWE-A/N GP and TWE), (i) Overland Park and Comcast Newco have executed and delivered a
Contribution Agreement dated as of February 28, 2005 pursuant to which among other things Overland
Park has contributed 100% of its Interest in the Partnership to Comcast Newco, (ii) Comcast has
caused TCI GP to become a disregarded entity for U.S. federal income tax purposes and (iii) Comcast
has

 

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caused 100% of the membership interests of TCI GP to be contributed to Comcast Newco (all such
actions, the “Second Comcast Restructuring”); and

          WHEREAS, the parties hereto wish to amend the Partnership Agreement to reflect the TWE
Transfer and the Second Comcast Restructuring.

          In consideration of the covenants and agreements set forth herein and for other good and
valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties
hereby agree to amend the Partnership Agreement as follows:

     A. AMENDMENTS TO PREAMBLE AND ARTICLE I (DEFINITIONS)

          1. Preamble. The first paragraph of the Partnership Agreement is hereby amended by
replacing the phrase “TCI Texas Cable, Inc., a Colorado corporation” with “TCI Texas Cable, LLC, a
Colorado limited liability company formerly known as TCI Texas Cable, Inc.”

          2. Section 1.1. Section 1.1 (Definitions) of the Partnership Agreement is hereby
amended by deleting the following definitions in their entirety: “Cable Affiliates”; “KCCP
Contribution Agreement”; “Limited Partner”; “Related Partners”; and “Transaction Agreement”.

          3. Section 1.1. Section 1.1 (Definitions) of the Partnership Agreement is hereby
further amended by inserting the following definitions (alphabetically):

Cable Affiliates: With respect to (i) TCI, TCI GP, LCM
LLC and Comcast Newco, Comcast Cable Communications Holdings,
Inc., a Delaware corporation, and its Subsidiaries and (ii)
TWE-A/N and TWE-A/N GP, TWE and its Subsidiaries.

Comcast Newco: Comcast TCP Holdings, Inc., a Delaware
corporation.

KCCP Contribution Agreement: The Contribution and
Assumption Agreement, dated as of March 23, 1998, among KCCP,
TWE-A/N, LCM LLC and Comcast Newco, as amended from time to time.

Limited Partner: TWE-A/N, TCI, LCM LLC and Comcast Newco
and any other Person hereafter admitted as a limited partner of
the Partnership in accordance with the terms hereof, but excluding
any Person that ceases to be a Partner in accordance with the
terms hereof.

Related Partners: (i) TWE-A/N and TWE-A/N GP and any
subsequent Permitted Transferees of their Interests, on the one
hand, and (ii) TCI, TCI GP, LCM LLC and Comcast

 

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Newco and any subsequent Permitted Transferees of their Interests,
on the other hand.

Second Comcast Restructuring: As defined in the
Transaction Agreement.

Transaction Agreement: The Agreement of Merger and
Transaction Agreement, dated as of December 1, 2003, by and among
the Partnership, TWE-A/N, TWE-A/N GP, TWE, TCI, TCI GP, KCCP,
Overland Park, LCM, LCM LLC, Comcast Corporation (solely for
purposes of being bound by Sections 3 and 6(p) thereof) and Time
Warner Cable Inc. (solely for purposes of being bound by Sections
3 and 6(p) thereof), as amended as of December 19, 2003.

TWE Transfer: As defined in the Transaction Agreement.

Ultimate Parent: With respect to any Partner, the Parent
of such Partner that is not a Subsidiary of any other Person. As
of the Effective Time, the Ultimate Parent of TWE-A/N and TWE-A/N
GP is TWI, and the Ultimate Parent of TCI, TCI GP, LCM LLC and
Comcast Newco is Comcast.

     B. AMENDMENTS TO ARTICLE III (COMPANY CAPITAL)

          1. Section 3.1. Section 3.1 (Percentage Interests) of the Partnership Agreement is
hereby amended by inserting the following immediately prior to penultimate sentence of such
section:

As of February 28, 2005, after giving effect to the TWE Transfer
and the Second Comcast Restructuring, the respective Percentage
Interests of the Partners in the Partnership are as set forth
below:

	 	 	 	 	 
	Partner	 	Percentage Interest
	TWE-A/N
	 	 	49.608	%
	TCI
	 	 	38.784	%
	LCM LLC
	 	 	10.004	%
	Comcast Newco
	 	 	0.820	%
	TWE-A/N GP
	 	 	0.392	%
	TCI GP
	 	 	0.392	%

          2. Section 3.2. Clause (f) of Section 3.2 (Capital Contributions) of the Partnership
Agreement is hereby amended by replacing the term “TWE” with the phrase “TWE-A/N (through its
predecessor in interest, TWE)” and replacing the term “Overland

 

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Park” with the phrase “Comcast Newco (through its predecessor in interest, Overland Park)”.

     C. AMENDMENTS TO ARTICLE VII (TRANSFERS)

          1. Section 7.2. Section 7.2 (Permitted Transfers) of the Partnership Agreement is
hereby amended by replacing each occurrence therein of the term “Overland Park” with “Comcast
Newco.”

     D. AMENDMENTS TO ARTICLE X (MISCELLANEOUS)

          1. Section 10.5. Section 10.5 (Notices) of the Partnership Agreement is hereby
amended by replacing the term “Overland Park” with “Comcast Newco”, the term “TCI Texas Cable,
Inc.” with “TCI Texas Cable, LLC” and the term “TCI of Overland Park, Inc.” with “Comcast TCP
Holdings, Inc.”

     E. GENERAL PROVISIONS

          1. Ratification of the Partnership Agreement. Except as otherwise expressly provided
herein, all of the terms and conditions of the Partnership Agreement are ratified and shall remain
unchanged and continue in full force and effect.

          2. Governing Law. This Amendment shall be governed by and construed in accordance
with the internal laws of the State of Delaware (other than its rules of conflicts of law to the
extent that the application of the laws of another jurisdiction would be required thereby).

          3. Counterparts. This Amendment may be executed in one or more counterparts, all of
which shall consist one and the same instrument.

          4. Headings. The headings in this Amendment are for convenience of reference only,
and shall not be deemed to alter or affect the meaning or interpretation of any provisions hereof.

[Remainder of Page Intentionally Left Blank]

 

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          IN WITNESS WHEREOF, this Amendment has been executed as of the date first above written.

	 	 	 	 	 
	 	TIME WARNER ENTERTAINMENT-ADVANCE/NEWHOUSE PARTNERSHIP

 	 
	 	By:  	Time Warner Entertainment Company,

L.P., Managing Partner
 	 
	 	By:  	/s/ David E. O’Hayre
 	 
	 	 	Name:  	David E. O’Hayre 	 
	 	 	Title:  	EVP, Investments, Cable Group 	 
	 
	 	TWE-A/N TEXAS CABLE PARTNERS

 GENERAL PARTNER LLC

 	 
	 	By:  	/s/ David E. O’Hayre
 	 
	 	 	Name:  	David E. O’Hayre 	 
	 	 	Title:  	Vice President 	 
	 
	 	TCI TEXAS CABLE HOLDINGS LLC

 	 
	 	By:  	/s/ Arthur R. Block
 	 
	 	 	Name:  	Arthur R. Block 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	TCI TEXAS CABLE, LLC

 	 
	 	By:  	/s/ Arthur R. Block
 	 
	 	 	Name:  	Arthur R. Block 	 
	 	 	Title:  	Senior Vice President 	 
	 

 

 

6
	 	 	 	 	 
	 	COMCAST TCP HOLDINGS, LLC

 	 
	 	By:  	/s/ Arthur R. Block
 	 
	 	 	Name:  	Arthur R. Block 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	COMCAST TCP HOLDINGS, INC.

 	 
	 	By:  	/s/ Arthur R. Block
 	 
	 	 	Name:  	Arthur R. Block 	 
	 	 	Title:  	Senior Vice President 	 
	 

	 	 	 	 	 
	 	Solely for purposes of Acknowledging the

TWE Transfer and Second Comcast Restructuring

 
TIME WARNER ENTERTAINMENT COMPANY, L.P.

 
	 
	 	By:  	/s/ David E. O’Hayre
 	 
	 	 	Name:  	David E. O’Hayre 	 
	 	 	Title:  	EVP, Investments, Cable Group 	 
	 
	 	TCI OF OVERLAND PARK, INC.

 	 
	 	By:  	/s/ Arthur R. Block
 	 
	 	 	Name:  	Arthur R. Block 	 
	 	 	Title:  	Senior Vice PresidentEX-10.13 AGREEMENT OF MERGER/TRANSACTION AGREEMENT

 

Exhibit 10.13

EXECUTION COPY

AGREEMENT OF MERGER

AND TRANSACTION AGREEMENT

          AGREEMENT OF MERGER AND TRANSACTION AGREEMENT, dated as of December 1, 2003 (this
“Agreement”), among Texas Cable Partners, L.P., a Delaware limited partnership
(“TCP”), Kansas City Cable Partners, a Colorado general partnership (“KCCP”), Time
Warner Entertainment-Advance/Newhouse Partnership, a New York general partnership
(“TWE-A/N”), TWE-A/N Texas Cable Partners General Partner LLC, a Delaware limited liability
company (“TWE-A/N GP”), Time Warner Entertainment Company, L.P., a Delaware limited
partnership (“TWE”), TCI Texas Cable Holdings LLC, a Colorado limited liability company
(“TCI”), TCI Texas Cable, Inc., a Colorado corporation (“TCI GP”), TCI of Missouri,
Inc. (formerly known as Liberty Cable of Missouri, Inc.), a Missouri corporation (“LCM”),
and TCI of Overland Park, Inc., a Kansas corporation (“Overland Park” and together with TCI
and LCM and their respective successors in interest under the TCP Partnership Agreement (as defined
herein), the KCCP Partnership Agreement (as defined herein) or the Combined Partnership Agreement
(as defined herein), the “TCI Limited Partners”), and solely for purposes of being bound by
Sections 3 and 6(p), Comcast Corporation, a Pennsylvania corporation (“Comcast”), and Time
Warner Cable Inc., a Delaware corporation (“TWCI”).

          WHEREAS, TWE-A/N, TWE-A/N GP, TCI and TCI GP are parties to that certain Limited Partnership
Agreement of TCP, dated as of June 23, 1998, as amended by Amendment No. 1, dated as of December
11, 1998, Amendment No. 2, dated as of May 16, 2000, and Amendment No. 3, dated as of August 23,
2000 (as amended, the “TCP Partnership Agreement”), pursuant to which TWE-A/N and TCI are
limited partners, each with a 49.5% Percentage Interest (as defined in the TCP Partnership
Agreement) and TWE-A/N GP and TCI GP are general partners, each with a 0.5% Percentage Interest (as
defined in the TCP Partnership Agreement);

          WHEREAS, TWE, LCM and Overland Park are parties to that certain Amended and Restated General
Partnership Agreement of KCCP, dated as of August 31, 1998 (the “KCCP Partnership
Agreement”), pursuant to which TWE holds a 50% Percentage Interest (as defined in the KCCP
Partnership Agreement) therein, LCM holds a 46.211% Percentage Interest (as defined in the KCCP
Partnership Agreement) therein and Overland Park holds a 3.789% Percentage Interest (as defined in
the KCCP Partnership Agreement) therein;

          WHEREAS, the partners of TCP and KCCP desire to merge KCCP with and into TCP (the
“Merger”), with TCP as the surviving limited partnership (the “Combined
Partnership”), on the terms and subject to the conditions set forth in this Agreement, the
Delaware Revised Uniform Limited Partnership Act (Del. Code Ann. Tit. 6 § 17-101 et.
seq.) (the “DRULPA”) and the Colorado Uniform Partnership Act (Colo. Rev. Stat.
Ann. § 7-64-101 et. seq.) (the “CUPA”);

 

 

          WHEREAS, KCCP desires prior to the Merger to (a) form a trust (the “Trust”) in
accordance with the Delaware Statutory Trust Act (Del. Code Ann. Tit. 12 § 3801 et
seq.) (the “Statutory Trust Act”) of which KCCP shall be the sole beneficiary and
(b) transfer all of its assets, subject to all of its liabilities, to the Trust;

          WHEREAS, Comcast desires prior to the Merger to hold the majority of its interests in TCP and
KCCP in an indirect wholly-owned Delaware corporation, Comcast TCP Holdings, Inc. (“Comcast
Newco”), by implementing certain restructurings as more fully described in Section 3 hereof;

          WHEREAS, immediately after the Merger is consummated, the limited partners of the Combined
Partnership will consist of TWE-A/N, TWE, TCI, LCM LLC (as defined herein) and Overland Park, and
the general partners of the Combined Partnership will consist of TWE-A/N GP and TCI GP; and

          WHEREAS, capitalized terms used herein and not otherwise defined herein shall have the
respective meanings ascribed to them in the Combined Partnership Agreement (as defined herein).

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

     1. Formation of Trust; Trust Transfer.

          (a) Formation of Trust. Prior to the Effective Time (as defined herein), KCCP shall
form the Trust in accordance with the Statutory Trust Act and an Agreement and Declaration of
Trust, substantially in the form of Exhibit A attached hereto (the “Trust
Agreement”).

          (b) Assignment and Assumption. Immediately prior to the Effective Time (as defined
herein), pursuant to the Assignment, Assumption & Indemnity Agreement substantially in the form of
Exhibit B attached hereto (the “Assignment, Assumption & Indemnity Agreement”), (i)
KCCP shall assign, transfer and deliver to the Trust, and shall cause the Trust to accept, all of
KCCP’s right, title and interest in and to all of the Assets (as defined in the Assignment,
Assumption & Indemnity Agreement) of KCCP (the “KCCP Assets”) and (ii) KCCP shall cause the
Trust to (x) assume and agree to perform all Liabilities (as defined in the Assignment, Assumption
& Indemnity Agreement) of KCCP and (y) indemnify and hold KCCP harmless from all such Liabilities.
The transactions contemplated by this Section 1 shall be referred to as the “Trust
Transfer.”

          (c) Nonassignable Assets. Notwithstanding Section 1(b) above, any KCCP Asset, the
conveyance, assignment or transfer of which without the consent, authorization, approval or waiver
of a third party would constitute a breach or other contravention of such KCCP Asset or in any way
adversely affect the rights of KCCP or the Trust thereunder (a “Nonassignable Asset”),
shall not be conveyed, assigned or

2

 

transferred by the Assignment, Assumption & Indemnity Agreement until such time as such
consent, authorization, approval or waiver is obtained, at which time such Nonassignable Asset
shall be deemed conveyed, assigned or transferred under the Assignment, Assumption & Indemnity
Agreement without further action on the part of KCCP or the Trust. Until such consent,
authorization, approval or waiver is obtained, (i) KCCP and the Trust shall use all commercially
reasonable efforts to obtain the relevant consent, (ii) KCCP shall endeavor to provide the Trust
with the benefits under the Nonassignable Assets as if such Nonassignable Assets had been assigned
to the Trust, including preserving the benefits of and enforcing for the benefit of the Trust, at
the Trust’s expense, any and all rights of KCCP under such Nonassignable Asset; and (iii) to the
extent permissible under such Nonassignable Asset, the Trust shall (A) be responsible for the
obligations of KCCP under such Nonassignable Asset and (B) act as the agent of KCCP in preserving
the benefits of and enforcing any and all rights of KCCP in such Nonassignable Asset. The Trust
shall indemnify KCCP in respect of any Damages suffered or incurred by it as a result of this
Section 1(c). KCCP shall promptly pay to the Trust when received all monies received by KCCP in
respect of any Nonassignable Asset or any claim or right or any benefit arising thereunder.

          (d) Consent to Assignment of KCCP Management Agreement. Pursuant to Section 16 of the
Amended and Restated Management Agreement, dated as of August 31, 1998 (the “KCCP Management
Agreement”), TWE, in its capacity as general manager under the KCCP Management Agreement,
hereby consents to the assignment of the KCCP Management Agreement by KCCP to the Trust in
connection with the Trust Transfer.

     2. Merger.

          (a) Merger. Upon the terms and subject to the conditions of this Agreement, at the
Effective Time (as defined herein), KCCP shall be merged with and into TCP in accordance with the
provisions of Section 17-211 of the DRULPA and Section 7-64-905 of the CUPA. TCP shall be the
surviving limited partnership resulting from the Merger and shall continue to be governed by the
laws of the State of Delaware. From and after the Effective Time (as defined herein), the separate
existence and organization of KCCP shall cease, and the Combined Partnership shall succeed to and
shall have all the rights, privileges and powers of both TCP and KCCP and all property, real,
personal and mixed, and all debts due to either TCP or KCCP, as well as all other things and causes
of action belonging to TCP or KCCP shall be vested in the Combined Partnership without further act
or deed. The Combined Partnership shall thenceforth be responsible and liable for all debts,
liabilities and duties of both TCP and KCCP. The address of the chief executive offices of the
Combined Partnership shall be 290 Harbor Drive, Stamford, CT 06902.

          (b) Effective Time. The Merger shall become effective on the date (which shall be the
date of filing unless otherwise agreed by the parties) and at the time specified in the certificate
of merger (the “Certificate of Merger”) to be filed with the Secretary of State of the
State of Delaware as provided in Section 17-211 of the DRULPA (the “Effective Time”).

3

 

          (c) Manner of Converting Partnership Interests. At the Effective Time, by virtue of
the Merger and without any action on the part of TCP or KCCP or any of the partners of TCP or KCCP,
(i) each Interest (as defined in the TCP Partnership Agreement) in TCP issued and outstanding
immediately prior to the Effective Time shall remain outstanding immediately after the Effective
Time and (ii) each Interest (as defined in the KCCP Partnership Agreement) in KCCP issued and
outstanding immediately prior to the Effective Time shall be converted into an Interest in the
Combined Partnership, in each case representing the Percentage Interests and Capital Accounts
described in Section 3.1 of the Combined Partnership Agreement opposite the name of each holder of
such Interest, having the same designations, preferences, rights, powers and duties as an Interest
in TCP immediately prior to the Effective Time.

          (d) Amendment #4 to the Partnership Agreement. The TCP Partnership Agreement in
effect immediately prior to the Effective Time shall be amended as of the Effective Time, and as so
amended (the “Combined Partnership Agreement”), shall continue in full force and effect as
the limited partnership agreement of the Combined Partnership until otherwise amended or repealed
as provided by law or in accordance with the terms of such limited partnership agreement. Such
amendment to the TCP Partnership Agreement shall be substantially in the form of Exhibit C
attached hereto (“TCP Amendment #4”).

          (e) Admission of New Limited Partners. At the Effective Time, TWE, LCM LLC and
Overland Park shall be admitted as limited partners of the Combined Partnership in accordance with
the terms of the Combined Partnership Agreement.

          (f) Waiver of Management Committee Approval Requirement. TWE-A/N, TWE-A/N GP, TCI and
TCI GP each hereby waive compliance with the provisions of Section 4.5 of the TCP Partnership
Agreement for the limited purpose of entering into this Agreement and consummating the transactions
contemplated herein, including without limitation, the Merger. TWE-A/N, TWE-A/N GP, TCI and TCI GP
each hereby agree that the waiver set forth in this Section 2(f) shall constitute a waiver pursuant
to Section 10.2 of the TCP Partnership Agreement.

          (g) Waiver of Management Committee Approval Requirement. TWE, LCM and Overland Park
each hereby waive compliance with the provisions of Section 4.5 of the KCCP Partnership Agreement
for the limited purpose of entering into this Agreement and consummating the transactions
contemplated herein, including without limitation, the Merger. TWE, LCM and Overland Park each
hereby agree that the waiver set forth in this Section 2(g) shall constitute a waiver pursuant to
Section 10.2 of the KCCP Partnership Agreement.

     3. Certain Restructurings.

          (a) First Comcast Restructuring.

     (i) The parties hereby agree that (x) as soon as is reasonably practicable
after the date hereof but in no event later than December 15, 2003,

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Comcast shall cause LCM to transfer (the “LCM Transfer”) (A)
100% of its Interest (as defined in the KCCP Partnership Agreement) and (B) all of
LCM’s rights and obligations under this Agreement and under the KCCP Contribution
Agreement to a single member limited liability company directly or indirectly
wholly-owned by Comcast that shall be disregarded as an entity for U.S. federal
income tax purposes (“LCM LLC”), and (y) as soon as is reasonably
practicable after the consummation of the LCM Transfer but in no event later than
December 15, 2003, Comcast shall cause (A) 100% of the membership interests in TCI
to be contributed to Comcast Newco and (B) LCM to contribute 100% of the membership
interests in LCM LLC to Comcast Newco. The series of transactions described in
this Section 3(a)(i) shall be referred to as the “First Comcast
Restructuring” and the date on which the last of such transactions shall have
occurred shall be referred to as the “First Restructuring Date”.

     (ii) Each of TWE, LCM and Overland Park hereby (x) acknowledge and agree that
the LCM Transfer contemplated by this Section 3(a) shall be treated as if it were a
“Permitted Transfer” under Section 7 of the KCCP Partnership Agreement, and (y)
agree to execute and deliver an amendment to the KCCP Partnership Agreement to
reflect the LCM Transfer.

     (iii) Notwithstanding anything to the contrary contained herein, the First
Comcast Restructuring shall not relieve LCM of any of its obligations under the
Transaction Documents and, in connection with the First Comcast Restructuring, LCM
shall continue to be bound by its obligations and shall execute and deliver to
TWE-A/N GP, TWE-A/N and TWE an acknowledgement of such agreement to remain bound to
each Transaction Document.

          (b) TWE Transfer. The parties hereby agree that at any time after the date that is 12
months and 1 day after the First Restructuring Date and on or before February 28, 2005, TWE shall
contribute (the “TWE Transfer”) (x) 100% of its Interest in the Combined Partnership the
(“TWE Interest”) and (y) all of its rights and obligations under this Agreement, the KCCP
Contribution Agreement and the Funding Agreement (as defined herein), except to the extent such
rights and obligations relate to TWE in its capacity as general manager of the Combined Partnership
or the Trust, to TWE-A/N in exchange for Preferred Partnership Units (as defined in the TWE-A/N
Partnership Agreement (as defined herein)) therein having an aggregate liquidation preference equal
to the value of the TWE Interest in the Combined Partnership being so contributed (it being
understood that the maturity dates of the Preferred Partnership Units may also be modified in
connection herewith or therewith). Each of TWE-A/N, TWE, the TCI Limited Partners, TWE-A/N GP and
TCI GP hereby: (i) acknowledge and agree that the TWE Transfer contemplated by this Section 3(b)
shall be treated as if it were a “Permitted Transfer” under Section 7 of the Combined Partnership
Agreement and (ii) agree to amend the Combined Partnership Agreement to reflect the TWE Transfer.
TWE and TWE-A/N acknowledge and agree that the TWE-A/N Third Amended and Restated Partnership

5

 

Agreement, dated as of December 31, 2002 (as amended from time to time, the “TWE-A/N
Partnership Agreement”), among TWE, TWCI and Advance/Newhouse Partnership, will be amended to
reflect the transactions described in this Section 3(b). TWE and TWE-A/N represent and warrant
that upon such TWE Transfer, the TWE Interest in the Combined Partnership will become part of the
Residual Business and will not be part of or in any way co-mingled with, the Selected Business (as
such terms are defined in the TWE-A/N Partnership Agreement).

          (c) Second Comcast Restructuring. The parties hereby agree that at any time after
the date that is 12 months and 1 day after the First Restructuring Date and on or before February
28, 2005, (i) Comcast shall cause Overland Park to contribute (A) 100% of its Interest in the
Combined Partnership and (B) all of Overland Park’s rights and obligations under this Agreement,
the KCCP Contribution Agreement and the KCCP Keep Well (as defined herein) to Comcast Newco, (ii)
Comcast shall cause 100% of the stock of TCI GP to be contributed to Comcast Newco, and (iii)
immediately after the contribution contemplated in clause (ii) of this Section 3(c) is consummated,
Comcast shall cause TCI GP to become a disregarded entity for U.S. federal income tax purposes (all
such actions, the “Second Comcast Restructuring”). The date on which the last of the
transactions described in Section 3(b) and this Section 3(c) shall have occurred shall be referred
to as the “Second Restructuring Date”. Each of TWE-A/N, TWE, the TCI Limited Partners,
TWE-A/N GP and TCI GP hereby (A) acknowledge and agree that the contribution by Overland Park
contemplated by Section 3(c)(i)(A) shall be treated as if it were a “Permitted Transfer” under
Section 7 of the Combined Partnership Agreement and (B) agree to execute and deliver an amendment
to the Combined Partnership Agreement to reflect the transactions described in this Section 3(c).
Notwithstanding anything to the contrary contained herein, the Second Comcast Restructuring shall
not relieve Overland Park of any of its obligations under the Transaction Documents and, in
connection with the Second Comcast Restructuring, Overland Park shall continue to be bound by its
obligations and shall execute and deliver to TWE-A/N GP, TWE-A/N and TWE an acknowledgement of such
agreement to remain bound to each Transaction Document.

          (d) No Closing Condition. It is understood and agreed that the transactions set forth
in this Section 3 shall not be a condition to the Closing and no restriction on the ability to
consummate the transactions set forth in this Section 3 shall be a basis for not proceeding with
the other transactions to be consummated at the Closing or for terminating this Agreement.

     4. Closing.

          (a) Closing. The closing of the Trust Transfer and Merger (the “Closing”)
shall take place at the New York offices of Paul, Weiss, Rifkind, Wharton & Garrison LLP, at 10:00
a.m. on the date (the “Closing Date”) which is the last day of the month in which the
conditions set forth in Section 4(b) are satisfied.

          (b) Conditions to Closing. The obligations of the parties hereto to consummate the
Trust Transfer and Merger shall be subject to the satisfaction at or prior to the Closing of the
following conditions, the imposition of which are solely for the benefit

6

 

of such parties and any one or more of which may be waived by such parties in their
discretion, and all of which are expressly subject to Section 3(d):

     (i) with respect to the Merger, the Trust Transfer shall have been
consummated;

     (ii) receipt of any required consents or waivers from the Federal
Communications Commission to transfer licenses granted by the Federal
Communications Commission to any Systems, divisions or other business units in KCCP
or TCP pursuant to the transactions contemplated hereby;

     (iii) the aggregate number of subscribers served by the cable television
systems owned by KCCP (the “KCCP Systems”) that, as of the Closing, relate
to service areas for which no franchise is required, no consent is necessary for
the transfer of the franchise in connection with the consummation of the Trust
Transfer and Merger or effective consent reasonably acceptable to the parties has
been obtained or deemed to be obtained shall be at least 90% of the total number of
subscribers served by the KCCP Systems (it being understood that a consent shall be
deemed reasonably acceptable if such consent does not require any material change
be made to the relevant franchise agreement or otherwise impose any material
obligation on the transferor, the transferee or any of their respective
Affiliates);

     (iv) all consents and waivers to the Trust Transfer and the Merger, other than
such consents and waivers referred to in clauses (ii) and (iii) above, shall have
been obtained, be in effect and be subject to no limitations, conditions,
restrictions or obligations, except for such consents the failure of which to
obtain would not, and such limitations, conditions, restrictions or obligations as
would not, individually or in the aggregate, have a material adverse affect on
TCP’s or KCCP’s business, financial condition, assets or liabilities;

     (v) each document set forth in Sections 6(a) to 6(k) shall have been executed
by the parties thereto;

     (vi) no provision of applicable law or regulation and no judgment, injunction,
order or decree shall prohibit the consummation of the Merger or the other
transactions contemplated herein;

     (vii) except with respect to matters referred to in clause (iii) above, there
shall not have been instituted and be pending any action or proceeding by any
government or governmental authority or agency (whether domestic, foreign or
supranational) before any court or governmental authority or agency (whether
domestic, foreign or supranational) challenging or seeking to make illegal, to
delay materially or otherwise directly or indirectly to restrain or prohibit the
consummation of

7

 

the Merger or the other transactions contemplated herein or seeking to obtain
material damages relating to the Merger or the other transactions contemplated
herein; and

     (viii) KCCP shall have refinanced the obligations under the credit agreement
dated as of August 31, 1998 by and among KCCP, The Bank of New York, as
administrative agent, and the lenders signatory thereto in a manner that permits
the Merger and the other transactions contemplated hereby to be consummated and any
new Debt incurred by KCCP in connection therewith shall be on terms and conditions
reasonably satisfactory to TWE and Comcast.

     5. Representations and Warranties.

          (a) Each party hereto represents and warrants to the other parties hereto as follows:

     (i) Organization, Standing and Power. Such party is duly organized,
validly existing and in good standing under the laws of the jurisdiction of its
organization.

     (ii) Authority; Noncontravention. Such party has the requisite power
and authority to execute, deliver and perform this Agreement and each document set
forth in Section 6 to which such party is a party (each, a “Transaction
Document”) and to consummate the transactions contemplated hereby and thereby.
The execution, delivery and performance of this Agreement and each Transaction
Document by such party and the consummation by such party of the transactions
contemplated hereby and thereby have been duly authorized by all necessary
corporate, partnership or limited liability company action, as applicable, on the
part of such party and no other corporate, partnership or limited liability company
proceedings on the part of such party are necessary to approve this Agreement and
each Transaction Document or to consummate the transactions contemplated hereby and
thereby. This Agreement has been (and each Transaction Document will be) duly
executed and delivered by such party and constitutes (or, when executed, will
constitute) a valid and binding agreement of such party, enforceable against it in
accordance with its terms. The execution, delivery and performance by such party
of this Agreement and each Transaction Document, and the consummation of the
transactions contemplated hereby and thereby, do not and will not (A) violate the
organizational documents of such party, (B) assuming compliance with the matters
referred to in Section 5(a)(iii), violate any applicable law, rule, regulation,
judgment, injunction, order or decree, (C) assuming compliance with the matters
referred to in Sections 4(b)(iv) and 6(h), require any consent or other action by
any Person under, constitute a default under (with due notice or lapse of time or
both), or give rise to any right of termination, cancellation or acceleration of
any right or obligation of such party or any

8

 

of its Subsidiaries or to a loss of any benefit to which such party or any of
its Subsidiaries is entitled under any provision of any agreement or other
instrument binding upon such party or any of its Subsidiaries, except, with respect
to TCP and KCCP and their respective Subsidiaries, matters which would not,
individually or in the aggregate, have a material adverse effect on TCP’s or KCCP’s
business, financial condition, assets or liabilities, or (D) result in the creation
or imposition of any material mortgage, lien, pledge, charge, security interest or
encumbrance on any asset of such party or any of its Subsidiaries.

     (iii) Governmental Authorization. The execution, delivery and
performance by such party of this Agreement and each Transaction Document, and the
consummation of the transactions contemplated hereby and thereby, require no action
by or in respect of, or filing with, any governmental body, agency or official on
the part of such party or its affiliates other than (A) the filing of the
Certificate of Merger with respect to the Merger with the Secretary of State of the
Sate of Delaware and the filing of a statement of merger with the Secretary of
State of the State of Colorado and (B) receipt of any required approvals from the
Federal Communications Commission and applicable franchise authorities.

          (b) Transfer Representations.

     (i) TWE-A/N and TWE-A/N GP each hereby represent and warrant to TCI and TCI GP
that neither it nor any of its Affiliates have taken any action that would cause
its Interest (as defined in the TCP Partnership Agreement) in TCP to be treated as
sold or exchanged within the meaning of Section 708(b)(1)(B) of the Code and
Treasury Regulation § 1.708-1(b)(2) during the period beginning April 1, 2003 and
ending on the date hereof.

     (ii) TWE hereby represents and warrants to Overland Park and LCM that neither
it nor any of its Affiliates have taken any action that would cause its Interest
(as defined in the KCCP Partnership Agreement) in KCCP to be treated as sold or
exchanged within the meaning of Section 708(b)(1)(B) of the Code and Treasury
Regulation § 1.708-1(b)(2) during the period beginning April 1, 2003 and ending on
the date hereof.

     (iii) TCI and TCI GP each hereby represent and warrant to TWE-A/N and TWE-A/N
GP that neither it nor any of its Affiliates have taken any action that would cause
its Interest (as defined in the TCP Partnership Agreement) in TCP to be treated as
sold or exchanged within the meaning of Section 708(b)(1)(B) of the Code and
Treasury Regulation § 1.708-1(b)(2) during the period beginning April 1, 2003 and
ending on the date hereof.

9

 

     (iv) Overland Park and LCM each hereby represent and warrant to TWE that
neither it nor any of its Affiliates have taken any action that would cause its
Interest (as defined in the KCCP Partnership Agreement) in KCCP to be treated as
sold or exchanged within the meaning of Section 708(b)(1)(B) of the Code and
Treasury Regulation § 1.708-1(b)(2) during the period beginning April 1, 2003 and
ending on the date hereof.

          (c) For the avoidance of doubt, all representations and warranties made in Section 5(a) by TCP
or KCCP or in respect of their respective businesses, financial conditions, assets, liabilities or
agreements shall be deemed to have been made to the other parties hereto only by TCP and KCCP,
respectively.

     6. Covenants and Other Matters.

          (a) Certificate of Trust. Prior to the Closing Date, KCCP shall file a certificate of
trust with the Secretary of State of the State of Delaware as provided in Section 3810 of the
Statutory Trust Act, which certificate of trust shall be substantially in the form of Exhibit
D attached hereto.

          (b) Trust Agreement. At Closing, KCCP shall, and shall cause a trustee mutually
acceptable to TWE, LCM and Overland Park to, execute and deliver the Trust Agreement.

          (c) Assignment, Assumption & Indemnity Agreement. At Closing, KCCP shall, and shall
cause the Trust to, execute and deliver the Assignment, Assumption & Indemnity Agreement.

          (d) TCP Management Agreement Amendment and Restatement. At Closing, the Combined
Partnership and TWE shall execute and deliver an Amended and Restated Management Agreement (the
“TCP Management Agreement”), substantially in the form of Exhibit E attached
hereto. The TCP Management Agreement shall become effective as of the Effective Time, and shall
continue in full force and effect as the management agreement for the Combined Partnership until
otherwise amended in accordance with its terms.

          (e) KCCP Management Agreement Amendment and Restatement. At Closing, the Combined
Partnership, the Trust and TWE shall execute and deliver a Second Amended and Restated Management
Agreement (the “Second Amended and Restated KCCP Management Agreement”), substantially in
the form of Exhibit F attached hereto. The Second Amended and Restated KCCP Management
Agreement shall become effective as of the Effective Time, and shall continue in full force and
effect as the management agreement for the Trust until otherwise amended in accordance with its
terms.

          (f) Guaranty Amendment. At Closing, TCI Holdings, Inc. shall execute and deliver an
amendment to the Guaranty, dated as of March 23, 1998 (the “TCI Guaranty”), by TCI
Holdings, Inc. in favor of TWE and KCCP, which amendment shall modify the term “Obligations” so as
to include Overland Park’s obligations under the Combined Partnership Agreement. The amendment to
the TCI Guaranty shall become

10

 

effective as of the Effective Time, and shall continue in full force and effect until
otherwise amended in accordance with its terms.

          (g) Keep Well Amendment. (i) At Overland Park’s request, Overland Park and KCCP shall
execute and deliver at Closing an amendment to the Keep Well Agreement, dated as of August 31, 1998
(as amended from time to time, the “KCCP Keep Well”), which amendment shall modify the term
“Credit Agreement” so as to refer to any new senior credit agreement of KCCP existing as of the
Closing. The amendment to the KCCP Keep Well shall become effective as of the Effective Time, and
shall continue in full force and effect until otherwise amended in accordance with its terms.

     (ii) TWE, TWE-A/N, TWE-A/N GP and KCCP hereby consent to the assignment of the KCCP Keep Well
to Comcast Newco in connection with the Second Comcast Restructuring and acknowledge and agree that
no further consent shall be required at the time of the Second Comcast Restructuring in connection
with such assignment.

          (h) TCP Credit Agreement Amendment. At or prior to Closing, TCP and JP Morgan Chase
Bank shall execute and deliver an amendment to the Credit Agreement, dated as of December 31, 1998
(as amended, supplemented or otherwise modified from time to time, the “TCP Credit
Agreement”), among TCP, TWE-A/N, TWE-A/N GP, TCI, TCI GP and JP Morgan Chase Bank, as
administrative agent, and the other parties thereto. The amendment to the TCP Credit Agreement
shall be substantially in the form of Exhibit G attached hereto, shall become effective
immediately prior to the Trust Transfer and shall continue in full force and effect until otherwise
amended in accordance with its terms.

          (i) Funding Agreement Amendment. Concurrently with the execution of this Agreement,
TCP, TWE-A/N, TWE-A/N GP, TWE, TCI GP, the TCI Limited Partners and JPMorgan Chase Bank, as
administrative agent under the TCP Credit Agreement, shall execute and deliver an amendment to the
Third Amended and Restated Funding Agreement, dated as of December 28, 2001 (as amended from time
to time, the “Funding Agreement”), which amendment (the “Second Funding Agreement
Amendment”) shall be substantially in the form of Exhibit H attached hereto. The
Second Funding Agreement Amendment shall with respect to certain provisions become effective as of
the date hereof, shall with respect to other provisions become effective as of the Effective Time,
and shall continue in full force and effect until otherwise amended in accordance with its terms.

          (j) Delaware Certificate of Merger. At or prior to Closing, TWE-A/N GP and TCI GP
shall have executed and delivered the Certificate of Merger substantially in the form attached
hereto as Exhibit I.

          (k) TCP Amendment #4. At Closing, TWE-A/N, TWE, TWE-A/N GP, TCI GP and the TCI
Limited Partners shall execute and deliver the TCP Amendment #4 which shall become effective as
described in Section 2(d).

11

 

          (l) Initial Budget. Prior to Closing, TWE-A/N, TWE, TWE-A/N GP, TCI GP and the TCI
Limited Partners shall have approved the Initial Budget of the Combined Partnership for 2004.

          (m) Colorado Statement of Merger. After Closing, TWE-A/N GP and TCI GP shall execute
and deliver a statement of merger and cause such statement to be filed with the Secretary of State
of the State of Colorado as provided in Section 7-64-907 of the CUPA.

          (n) Further Assurances. Each party shall use commercially reasonable efforts to cause
the conditions to Closing to be satisfied and shall cooperate in good faith and take such
commercially reasonable actions as may be requested by another party in order to carry out the
provisions and purposes of this Agreement. For the avoidance of doubt, no party shall exercise its
rights under Section 7.4 of the TCP Partnership Agreement or Section 7.4 of the KCCP Partnership
Agreement while this Agreement is in effect.

          (o) Public Announcements. The parties agree to consult with each other before issuing
any press release or making any public statement with respect to this Agreement and the
transactions contemplated hereby and will not issue any such press release or make any such public
statement prior to such consultation, except that a party may issue any press release or make any
public statement with respect to this Agreement and the transactions contemplated hereby that may
be required by applicable law or any listing agreement with any national securities exchange or
quotation system prior to such consultation if such party has used reasonable efforts to consult
with the other parties before issuing such press release or making such statement;
provided, however, that notwithstanding the foregoing, the parties (and each of
their officers, directors, employees, representatives, or other agents) are permitted to disclose
to any and all persons, without limitation of any kind, the tax treatment and tax structure of the
transactions contemplated by this Agreement, and all materials of any kind (including opinions and
other tax analyses) related to such tax treatment and tax structure; provided,
further, that the foregoing proviso shall not permit any person to disclose, except as
otherwise set forth herein, the name of, or other information that would identify, any party to
such transactions or to disclose confidential, commercial or strategic information, or other
proprietary information regarding such transaction not related to such tax treatment and tax
structure.

          (p) Indemnification.

     (i) From and after the date hereof, Comcast shall be liable for and indemnify
and hold harmless TWCI, TWE-A/N, TWE-A/N GP, TWE and their respective Affiliates
(each a “TWCI Indemnitee”) for any claims, losses, liabilities, demands,
obligations, actions, penalties, expenses and costs (including, without limitation,
reasonable attorneys’ fees and expenses, including any such fees and expenses
incurred in enforcing this indemnity) (collectively, “Damages”) (on an
after tax basis) which may be made or brought against a TWCI Indemnitee or which a
TWCI Indemnitee may suffer or incur as a result of, based upon or arising out of,
any breach

12

 

of the representations and warranties contained in Section 5(b)(iii) or (iv)
hereof or any action taken (except pursuant hereto) by Comcast, the TCI Limited
Partners, TCI GP or any of their respective Affiliates that (x) causes any of their
respective Interests in TCP, KCCP or the Combined Partnership to be treated as
sold or exchanged within the meaning of Section 708(b)(1)(B) of the Code and
Treasury Regulation § 1.708-1(b)(2) during the period beginning on the date hereof
and ending on the date that is 12 months and 1 day following the Second
Restructuring Date; or (y) causes any of their respective Interests in the Combined
Partnership to be treated as sold or exchanged within the meaning of Section
708(b)(1)(B) of the Code and Treasury Regulation § 1.708-1(b)(2) if such action
would cause the Combined Partnership to be terminated within the meaning of Section
708 of the Code; provided, however, that the foregoing
indemnification shall not apply to the First Comcast Restructuring or the Second
Comcast Restructuring, respectively, in each case so long as consummated in
accordance with the terms of Section 3; provided, further, that in
each case any indemnification hereunder shall not include any Damages as a
shareholder of TWC.

     (ii) From and after the date hereof, TWCI shall be liable for and indemnify
and hold harmless Comcast, the TCI Limited Partners, TCI GP, and their respective
Affiliates (each a “Comcast Indemnitee”) for any Damages (on an after tax
basis) which may be made or brought against a Comcast Indemnitee or which a Comcast
Indemnitee may suffer or incur as a result of, based upon or arising out of, any
breach of the representations and warranties contained in Section 5(b)(i) or (ii)
hereof or any action taken (except pursuant hereto) by TWCI, TWE-A/N, TWE-A/N GP or
TWE or any of their respective Affiliates that (x) causes any of their respective
Interests in TCP, KCCP or the Combined Partnership to be treated as sold or
exchanged within the meaning of Section 708(b)(1)(B) of the Code and Treasury
Regulation § 1.708-1(b)(2) during the period beginning on the date hereof and
ending on the date that is 12 months and 1 day following the Second Restructuring
Date; or (y) causes any of their respective Interests in the Combined Partnership
to be treated as sold or exchanged within the meaning of Section 708(b)(1)(B) of
the Code and Treasury Regulation § 1.708-1(b)(2) if such action would cause the
Combined Partnership to be terminated within the meaning of Section 708 of the
Code; provided, however, that the foregoing indemnification shall
not apply to the TWE Transfer so long as consummated in accordance with the terms
of Section 3(b); provided, further, that in each case any
indemnification hereunder shall not include any Damages as a shareholder of TWC.

     7. Termination.

          (a) Termination Events. This Agreement may be terminated and the transactions
contemplated hereby may be abandoned at any time prior to Closing:

13

 

     (i) by any party at any time after May 31, 2004 if the Closing has not
occurred prior to such termination; provided that a party whose breach, or
whose Affiliate’s breach, has caused the Closing not to occur may not terminate
this Agreement pursuant to this Section 7(a)(i);

     (ii) at any time by the agreement of all parties; or

     (iii) by any party if consummation of the transactions contemplated herein
would violate any nonappealable final judgment or any court or governmental body
having competent jurisdiction, subject to Section 3(d).

The party desiring to terminate this Agreement pursuant to clause (i) or (iii) above shall give
notice of such termination to the other parties.

          (b) Effect of Termination. If this Agreement is terminated pursuant to Section 7(a),
(i) other than the representations and warranties set forth in Section 5(b), which shall survive
until the expiration of the statute of limitations applicable to the matters covered thereby
(giving effect to any waiver, mitigation or extension thereof), none of the representations and
warranties made in this Agreement shall survive such termination; and (ii) all rights and
obligations of the parties hereunder shall terminate, except for the rights and obligations set
forth in Sections 3(a), 6(o), 6(p) and 8(b), in which case, if context so requires, references to
the “Combined Partnership” in Section 6(p) shall be replaced with “TCP” or “KCCP”, as the case may
be. Termination of this Agreement pursuant to Sections 7(a)(i) or 7(a)(iii) shall not limit or
impair any remedies that any party may have with respect to a breach or default of the covenants,
agreements or obligations hereunder occurring prior to termination.

     8. Miscellaneous.

          (a) Notices. All notices or other communications under this Agreement shall be in
writing and shall be deemed to be duly given when delivered in person or by the United States mail
or private express mail or sent by facsimile as follows:

	 	(i)	 	If to TWCI, TWE, TWE-A/N or TWE-A/N GP:

75 Rockefeller Plaza,

New York, NY 10019

Facsimile: (212) 258-3172

Attention: General Counsel

with a copy to:

c/o Time Warner Cable Inc.

290 Harbor Drive

Stamford, CT 06902

Facsimile: (203) 328-0690

Attention: General Counsel

14

 

	 	 	 	and:

Paul, Weiss, Rifkind, Wharton & Garrison LLP

1285 Avenue of the Americas

New York, NY 10019

Facsimile: (212) 757-3990

Attention: Kelley D. Parker

                  Robert B. Schumer
	 
	 	(ii)	 	If to Comcast, TCI, TCI GP, LCM or Overland Park:

c/o Comcast Corporation

1500 Market Street

Philadelphia, PA 19102

Facsimile: (215) 981-7794

Attention: General Counsel

with a copy to

Davis Polk & Wardwell

450 Lexington Avenue

New York, NY 10017

Facsimile: (212) 450-3800

Attention: Joy M. Sayour
	 
	 	(iii)	 	If to TCP or KCCP:
	 
	 	 	 	To each of the addresses set forth in clauses (i) and (ii) above.

Any party may, by notice to the other parties, change the address to which such notices are to be
given.

        (b) Expenses. All costs and expenses incurred in connection with this Agreement shall
be paid by the party incurring such cost or expense, except TCI GP and the TCI Limited Partners
shall pay the fees and expenses of Davis Polk & Wardwell and TWE-A/N, TWE-A/N GP and TWE shall pay
the fees and expenses of Paul, Weiss, Rifkind, Wharton & Garrison LLP, unless such fees and
expenses of either law firm were incurred for the benefit of any or all of KCCP, TCP or the
Combined Partnership, in which case such fees and expenses shall be paid by TCP, KCCP or the
Combined Partnership, as applicable. For the avoidance of doubt, the parties hereby acknowledge
and agree that none of the transactions described in Section 3 shall be deemed to be for the
benefit of KCCP, TCP or the Combined Partnership.

        (c) Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of Delaware (other than its rules of
 

15

 

conflicts of law to the extent the application of the law of another jurisdiction would be
required thereby).

          (d) Amendments. No provisions of this Agreement shall be deemed waived, amended,
supplemented or modified by any party, unless such waiver, amendment, supplement or modification is
in writing and signed by the authorized representative of the party against whom such waiver,
amendment, supplement or modification it is sought to be enforced.

          (e) Assignment. This Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns; provided, however,
that, except as otherwise provided herein, no party hereto may assign its respective rights or
delegate its respective obligations under this Agreement without the express prior written consent
of each of the other parties hereto.

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

          (g) Counterparts. This Agreement may be executed in any number of counterparts and by
the parties hereto in separate counterparts, each of which when so executed shall be deemed to be
an original and all of which taken together shall constitute one and the same agreement.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

16

 

          IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written; provided, however, that Comcast and TWCI are parties to this Agreement
solely for purposes of being bound by Sections 3 and 6(p) hereof.

	 	 	 	 	 	 	 	 	 
	 	 	TIME WARNER ENTERTAINMENT-ADVANCE/NEWHOUSE PARTNERSHIP	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	Time Warner Entertainment Company, L.P.,
 Managing General Partner	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ David E. O’Hayre
 

Name: David E. O’Hayre
	 	 
	 

	 	 	 	 	 	Title: EVP, Investments, Cable Group	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	TWE-A/N TEXAS CABLE PARTNERS

 GENERAL PARTNER LLC	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ David E. O’Hayre	 	 
	 	 	 	 	 	 	 
	 	 	 	 	Name: David E. O’Hayre	 	 
	 	 	 	 	Title: Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	TIME WARNER ENTERTAINMENT

 COMPANY, L.P.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ David E. O’Hayre	 	 
	 	 	 	 	 	 	 
	 	 	 	 	Name: David E. O’Hayre	 	 
	 	 	 	 	Title: EVP, Investments, Cable Group	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	TIME WARNER CABLE INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ David E. O’Hayre	 	 
	 	 	 	 	 	 	 
	 	 	 	 	Name: David E. O’Hayre	 	 
	 	 	 	 	Title: EVP, Investments	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	TEXAS CABLE PARTNERS, L.P.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ David E. O’Hayre	 	 
	 	 	 	 	 	 	 
	 	 	 	 	Name: David E. O’Hayre	 	 
	 	 	 	 	Title: Executive Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	KANSAS CITY CABLE PARTNERS	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	Time Warner
Entertainment Company,

 L.P., as its General Partner	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ David E. O’Hayre
 

Name: David E. O’Hayre
	 	 
	 

	 	 	 	 	 	Title: EVP, Investments, Cable Group	 	 

Agreement of Merger and Transaction Agreement

 

 

	 	 	 	 	 
	By:  	TCI of Missouri, Inc.,

as its General Partner

 	 
	 	By:  	/s/ Robert S. Pick
 	 
	 	 	Name:  	Robert S. Pick 	 
	 	 	Title:  	Senior Vice President 	 
	 

	 	 	 	 	 
	By:  	TCI of Overland Park, Inc.,
as its General Partner

 	 
	 	By:  	/s/ Robert S. Pick
 	 
	 	 	Name:  	Robert S. Pick 	 
	 	 	Title:  	Senior Vice President 	 
	 

	 	 	 	 	 
	 	TCI TEXAS CABLE HOLDINGS LLC

 	 
	 	By:  	/s/ Robert S. Pick
 	 
	 	 	Name:  	Robert S. Pick 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	TCI TEXAS CABLE, INC.

 	 
	 	By:  	/s/ Robert S. Pick
 	 
	 	 	Name:  	Robert S. Pick 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	TCI OF MISSOURI, INC.

 	 
	 	By:  	                    /s/ Robert S. Pick
 	 
	 	 	Name:  	Robert S. Pick 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	TCI OF OVERLAND PARK, INC.

 	 
	 	By:  	                    /s/ Robert S. Pick
 	 
	 	 	Name:  	Robert S. Pick 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	COMCAST CORPORATION

 	 
	 	By:  	/s/ Robert S. Pick
 	 
	 	 	Name:  	Robert S. Pick 	 
	 	 	Title:  	Senior Vice President 	 
	 

Agreement of Merger and Transaction Agreement

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