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Unassociated Document

    

    Exhibit
      10.3(c)-1

    FOURTH
      AMENDMENT TO

    THE
      CENTURYTEL, INC.

    SUPPLEMENTAL
      DOLLARS & SENSE PLAN 

    1998
      RESTATEMENT

    

    This
      Fourth Amendment to the CenturyTel, Inc. Supplemental Dollars & Sense Plan
      1998 Restatement ("Plan") is effective November 17, 2005. 

    

    WHEREAS,
      the
      Board of Directors approved a recommendation of the Compensation Committee
      in
      connection with the termination of the CenturyTel, Inc. Supplemental Defined
      Contribution Plan (“SDC Plan”) that the Employer be permitted to make an
      additional annual discretionary contribution to a Participant's Account in
      this
      Plan equal to 4% of the Participant's compensation minus the contributions
      to
      the Participant’s account under the Employer’s Employee Stock Ownership Plan and
      Trust (“ESOP”).

    

    NOW,
      THEREFORE,
      the
      Plan is amended effective November 17, 2005 as follows:

    

    I.

    

    After
      Section 2.16, add Section 2.16(a) through 2.16(g) to read as
      follows:

    

    2.16(a) “PROFIT
      SHARING ACCOUNT”
      means an
      account established in 2006 under this Plan to which contributions under Section
      6.03 shall be credited, which shall vest in accordance with Section 7.02(b),
      with respect to which a Participant shall be entitled only to the vested amount
      in his Profit Sharing Account upon an event requiring payment but which shall
      be
      treated as an “Account” for all other purposes of this Plan.

    

    2.16(b) “PROFIT
      SHARING COMPENSATION”
      means
      the sum of a Participant’s Profit Sharing Salary and Profit Sharing Incentive
      Compensation for a particular Plan Year. The determination of a Participant’s
      Compensation shall be made by the Committee, in its discretion.

    

    2.16(c) “PROFIT
      SHARING CONTRIBUTIONS”
      means
      the total dollar amount of contributions made, directly or indirectly, on behalf
      of a Participant under the Company’s ESOP.

    

    2.16(d) “PROFIT
      SHARING CONTRIBUTION PERCENTAGE” means
      the
      estimated total of the percentage of compensation of employees of the Company
      contributed by the Company to its ESOP, as determined by dividing Profit Sharing
      Contributions for a particular Plan Year by estimated compensation taken into
      account under such plans for the Plan Year. The Committee, in its sole
      discretion, shall determine the Profit Sharing Contribution Percentage for
      each
      Plan Year, and such determination shall be binding and conclusive.
      Notwithstanding the above, until changed by action of the Committee, the Profit
      Sharing Contribution Percentage for each Plan Year shall be 4% of a
      Participant’s Profit Sharing Compensation.

    

    2.16(e) “PROFIT
      SHARING INCENTIVE COMPENSATION”
      means
      the amount awarded to a Participant under the Company’s Key Employee Incentive
      Compensation Program or other executive incentive compensation arrangement
      maintained by the Company, including the amount of any stock award in its cash
      equivalent at the time of conversion of the award from cash to stock. A
      Participant’s Profit Sharing Incentive Compensation shall be determined on an
      annual basis and shall be allocated to the Plan Year in which the award is
      paid.

    

    2.16(f)
       “PROFIT
      SHARING SALARY”
      means a
      participant’s actual pay for the Plan Year, exclusive, however, of bonus
      payments, overtime payments, commissions, imputed income on life insurance,
      vehicle allowances, relocation expenses, severance payments and any other extra
      compensation.

    

    2.16(g)
       “PROFIT
      SHARING YEARS OF SERVICE” means
      all
      years of service for each Plan Year in which the Participant completes at least
      1,000 hours of service. Profit Sharing Years of Service will include all years
      of service before a Participant became an officer of the Company, years of
      service following Normal Retirement Date and years of service with any Employer
      designated by the Company as a participating Employer under this Plan. In
      addition, periods of Leave of Absence and periods during which severance pay
      is
      provided shall be counted for determining years of service. 

    

    II.

    

    Add
      Section 6.03 to read as follows: 

    

    6.03 The
      Company shall credit a Participant's Profit Sharing Account each Plan Year
      with
      an amount equal to Profit Sharing Compensation times Profit Sharing Contribution
      Percentage minus Profit Sharing Contributions.

    

    III.

    

    Add
      Section 7.02 to read as follows:

    

    7.02 A
      Participant's Profit Sharing Account shall be fully vested and nonforfeitable
      upon:

    

    (a) 5
      Profit
      Sharing Years of Service.

    

    (b) attainment
      of age 55.

    

    (c) death.

    

    (d) disability
      as defined in Section 2.07, or

    

    (e) the
      occurrence of any of the following, each of which shall constitute a "Change
      of
      Control": (i) the acquisition by any person of beneficial ownership of 30%
      or
      more of the outstanding shares of the common stock, $1.00 par value per share
      (the "Common Stock"), of CenturyTel, Inc. ("CenturyTel"), or 30% or more of
      the
      combined voting power of CenturyTel's then outstanding securities entitled
      to
      vote generally in the election of directors; provided,
      however,
      that
      for purposes of this sub-item (i), the following acquisitions shall not
      constitute a Change of Control: (a) any acquisition (other than a Business
      Combination (as defined below) which constitutes a Change of Control under
      sub-item (iii) hereof) of Common Stock directly from CenturyTel, (b) any
      acquisition of Common Stock by CenturyTel or its subsidiaries, (c) any
      acquisition of Common Stock by any employee benefit plan (or related trust)
      sponsored or maintained by CenturyTel or any corporation controlled by
      CenturyTel, or (d) any acquisition of Common Stock by any corporation pursuant
      to a Business Combination that does not constitute a Change of Control under
      sub-item (iii) hereof; or (ii) individuals who, as of January 1, 2000,
      constitute the Board of Directors of CenturyTel (the "Incumbent Board") cease
      for any reason to constitute at least a majority of the Board of Directors;
      provided,
      however,
      that
      any individual becoming a director subsequent to such date whose election,
      or
      nomination for election by CenturyTel's shareholders, was approved by a vote
      of
      at least two-thirds of the directors then comprising the Incumbent Board shall
      be considered a member of the Incumbent Board, unless such individual's initial
      assumption of office occurs as a result of an actual or threatened election
      contest with respect to the election or removal of directors or other actual
      or
      threatened solicitation of proxies or consents by or on behalf of a person
      other
      than the Incumbent Board; or (iii) consummation of a reorganization, share
      exchange, merger or consolidation (including any such transaction involving
      any
      direct or indirect subsidiary of CenturyTel), or sale or other disposition
      of
      all or substantially all of the assets of CenturyTel (a "Business Combination");
      provided,
      however,
      that in
      no such case shall any such transaction constitute a Change of Control if
      immediately following such Business Combination: (a) the individuals and
      entities who were the beneficial owners of CenturyTel's outstanding Common
      Stock
      and CenturyTel's voting securities entitled to vote generally in the election
      of
      directors immediately prior to such Business Combination have direct or indirect
      beneficial ownership, respectively, of more than 50% of the then outstanding
      shares of common stock, and more than 50% of the combined voting power of the
      then outstanding voting securities entitled to vote generally in the election
      of
      directors of the surviving or successor corporation, or, if applicable, the
      ultimate parent company thereof (the "Post-Transaction Corporation"), and (b)
      except to the extent that such ownership existed prior to the Business
      Combination, no person (excluding the Post-Transaction Corporation and any
      employee benefit plan or related trust of either CenturyTel, the
      Post-Transaction Corporation or any subsidiary of either corporation)
      beneficially owns, directly or indirectly, 20% or more of the then outstanding
      shares of common stock of the corporation resulting from such Business
      Combination or 20% or more of the combined voting power of the then outstanding
      voting securities of such corporation, and (c) at least a majority of the
      members of the board of directors of the Post-Transaction Corporation were
      members of the Incumbent Board at the time of the execution of the initial
      agreement, or of the action of the Board of Directors, providing for such
      Business Combination; or (iv) approval by the shareholders of CenturyTel of
      a
      complete liquidation or dissolution of CenturyTel. For purposes of this Section
      7.02(e), the term "person" shall mean a natural person or entity, and shall
      also
      mean the group or syndicate created when two or more persons act as a syndicate
      or other group (including, without limitation, a partnership or limited
      partnership) for the purpose of acquiring, holding, or disposing of a security,
      except that "person" shall not include an underwriter temporarily holding a
      security pursuant to an offering of the security.

    

    IN
      WITNESS WHEREOF,
      CenturyTel, Inc. has executed this Amendment on this 13th day of January,
      2006.

    

     

     

    
      	 	
              CENTURYTEL,
                INC.

               

            
	 	
              By:  
                /s/ R. Stewart Ewing, Jr.

            
	 	
              R.
                Stewart Ewing, Jr.,

              Executive
                Vice-President and

            
	 	
              Chief
                Financial Officerexhibit 10.3(d)

    Exhibit
      10.3(d)

    

    FIRST
      AMENDMENT TO

    CENTURY
      TELEPHONE ENTERPRISES, INC.

    NOW
      CENTURYTEL, INC.

    SUPPLEMENTAL
      DEFINED BENEFIT PLAN

    

    

    This
      First Amendment to the CenturyTel, Inc. Supplemental Defined Benefit Plan
      ("Plan") is effective November 17, 2005. 

    

    WHEREAS,
      Article
      XVI permits the Board to amend the Plan; and

    

    WHEREAS,
      the name
      of the Plan needs to be changed to reflect the change of the corporate name
      from
      Century Telephone Enterprises, Inc. to CenturyTel, Inc.; and

    

    WHEREAS,
      at its
      meeting on November 17, 2005, the Board approved a recommendation from the
      Compensation Committee that the Plan be amended to transfer each active
      Participant's accrued benefit to the CenturyTel, Inc. Retirement Plan under
      the
      QSERP concept and to grant inactive participants the option to: (i) terminate
      participation in the Plan by paying to the Participant the present value of
      his
      or her accrued benefit in cash (without tax assistance), or (ii) retain his
      or
      her benefits in the Plan, which will be made compliant with Code Section 409A;
      and 

    

    WHEREAS,
      the
      executive officers of the Company were authorized and directed by the Board
      to
      prepare and execute the Amendments to the various Plans and Trusts and to take
      all such other actions as they deem necessary and proper to carry out the
      recommendations approved in the resolutions.

    

    NOW,
      THEREFORE,
      the
      Plan is amended effective November 17, 2005 as follows:

     

    I.

    

    Delete
      the name "Century Telephone Enterprises, Inc." each place that it appears in
      the
      Plan and insert in its place "CenturyTel, Inc.".

    

    II.

     

    Amend
      Section 4.01 to read as follows:

     

    4.01 
      The
      monthly retirement benefit payable to a Participant on his Normal Retirement
      Date shall be the excess, if any, of the sum of the amounts determined pursuant
      to Sections 6.1(a)(i) and 6.1(a)(ii) of the CenturyTel, Inc. Retirement Plan,
      computed without taking into account the limitation contained in Sections
      2.14(d) and 5.7 thereof, over the amount so determined taking into account
      such
      limitations, less the amount determined pursuant to Section 6.1(a)(iii) of
      the
      CenturyTel, Inc Retirement Plan. 

     

    III.

     

    Add
      new
      Section 11.04 to read as follows: 

     

    11.04 
      Notwithstanding any other provision of the Plan, each inactive Participant
      as of
      November 17, 2005 shall have the following options, which he must exercise
      no
      later than December 15, 2005, so that a cash payment (if elected) can be
      distributed to the Participant prior to 2006:

     

    Option
      1: 
      Receive
      a
      single sum payment in 2005 of the Actuarial Equivalent present value of the
      Participant’s accrued benefit under the Plan, or

     

    Option
      2: 
      Retain
      the Participant’s accrued benefit under the Plan, as amended to comply with Code
      Section 409A. 

     

    IN
      WITNESS WHEREOF,
      CenturyTel has executed this Amendment on this 29th day of December,
      2005.

     

    

     

    
      	 	
              CENTURYTEL,
                INC.

            
	 	
              By:
                /s/ R. Stewart Ewing, Jr.

              R.
                Stewart Ewing, Jr.,

            
	 	
              Executive
                Vice-President and

              Chief
                Financial Officer

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