Document:

Exhibit 10(f)(14)

 

AMENDMENT NO. 1 TO
THE

 

ALLTEL CORPORATION

 

1998 DIRECTORS’
DEFERRED COMPENSATION PLAN

 

Effective April 25, 2002, the ALLTEL Corporation 1998 Directors’
Deferred Compensation Plan is hereby amended to read as follows:

 

1.               Section 2.3 of the Plan is amended by
the addition of the following sentence as the end thereof:

 

Notwithstanding
the foregoing, a Participant may amend a previously executed Deferral Election
form in the manner permitted under Section 2.4

 

2.               Section 2.4 of the Plan is amended in
its entirety to read as follows:

 

2.4                           Deferral Period.  Except as otherwise provided in the
second paragraph of this Section 2.4, the date for payment of his Deferred
Compensation Account for a Deferral Year to be elected by a Director shall be the
first business day of any calendar month, other than January, that begins after
the calendar month that immediately follows the calendar month in which occurs
the Participant’s Termination of Service that is not later than the one hundred
twentieth (120th) calendar month ending after the calendar month in
which occurs the Participant’s Termination of Service, except that the Director
may elect that in the event of his death after his Termination of Service, the
date for payment of the Deferred Compensation Account shall be the earlier of
either: (a) the later of the date on which the Deferred Compensation Account
would have been paid to the Participant but for his death, provided the
Participant’s Beneficiary is not the Participant’s estate; or the first
business day of any calendar month, other than January, following receipt by
the Corporation of evidence satisfactory to the Corporation of the
Participant’s death and any other information deemed by the Corporation
necessary or desirable in order to effectuate payment of the Deferred
Compensation Account to the Participant’s Beneficiary;  or (b) the first
business day of any calendar month, other than January, following receipt by
the Corporation of evidence satisfactory to the Corporation of the Participant’s
death and any other information deemed by the Corporation necessary or
desirable in order to effectuate payment of the Deferred Compensation Account
to the Participant’s Beneficiary.

 

 

A Participant may amend a previously executed “Deferral Election Form”
so as to defer the date for payment of his Deferred Compensation Account for a
Deferral Year in the case of his Termination of Service to a date later than
the date specified in the first sentence of this Section 2.4 and/or to elect to
receive payment of such Deferred Compensation Account in annual installments
over a period not to exceed fifteen (15) years in whatever percentage of the
remaining Deferred Compensation Account the Participant designates; provided,
however: (i)  such amendment is made not
less than twelve (12) calendar months prior to the date payments would
otherwise have commenced under the first sentence of this Section 2.4 pursuant
to the Participant’s previously executed “Deferral Election Form;” (ii) the
amended Deferral Election form applies with respect to all Deferred
Compensation Accounts for all Deferral Years of the Participants under the
Plan; (iii) payment under the amended Deferral Election Form is deferred to a
date which is at least twelve (12) calendar months later than the date the lump
sum payment or the first annual installment, as the case may be, would
otherwise have been made pursuant to the previously executed Deferral Election
Forms; and (iv) payment of his Deferred Compensation Accounts is made (or
commences to be made) not later than the one hundred twentieth (120th)
calendar month ending after the calendar month in which occurs the
Participant’s Termination of Service. 
Any amendment of a Deferral Election Form hereunder which does not
satisfy the conditions set forth above shall be of no force or effect.

 

3.               Section 3.3 of the Plan is amended by
the addition of the following paragraph at the end thereof:

 

For any year in which payment of a Deferred Compensation Account is
made in installments pursuant to Section 2.4 and in lieu of the hypothetical
interest credit provided above, as of the close of business on the day
immediately preceding the date as of which the installment is made, the
Deferred Compensation Account shall be credited with an amount equal to the
product of: (a) the balance of the Deferred Compensation Account as of the
close of business on that day; (b) the Interest Rate for the Year during which
the payment occurs; and (c) a fraction, the numerator of which is the number of
days that have elapsed subsequent to the immediately preceding December 31st
through (and including) the date that payment occurs, and the denominator of
which is 365.  For purposes of the
immediately preceding sentence, payment shall be deemed to occur as of the date
on which payment is transmitted to the payee in accordance with the terms of
the Plan.  As of the close of business
on the immediately succeeding December 31st, the Deferred
Compensation Account shall be credited with an amount equal to the product of:
(a) the balance of the Deferred

 

2

 

Compensation Account as of the close of business on that day; (b) the
Interest Rate for the Year during which the payment occurs; and (c) a fraction,
the numerator of which is the number of days that have elapsed subsequent to
the date on which the installment payment was made, and the denominator of
which is 365.

 

4.               Section 4.1 of the Plan is amended in
its entirety to read as follows:

 

4.1                           Payment of Deferred
Compensation Accounts.  The balance
of each Deferred Compensation Account (as determined in accordance with Article
III) shall be paid by the Corporation by check drawn on the Corporation to the
Participant or the Participant’s Beneficiary at the earliest time (and as
otherwise) provided in this Article IV. 
Payment shall be made in the form of a single lump sum payment except as
provided in Sections 2.4 and 4.5.

 

3Exhibit 10(k)(3)

 

AMENDMENT NO. 2

TO

ALLTEL CORPORATION PENSION PLAN

(January 1, 2001 Restatement)

WHEREAS,
ALLTEL Corporation (the “Company”) maintains the ALLTEL Corporation Pension
Plan, as amended and restated effective as of January 1, 2001, and as subsequently
amended, (the “Plan”); and

WHEREAS,
the Company desires further to amend the Plan;

NOW
THEREFORE, BE IT RESOLVED, that the Company hereby amends the Plan, effective
as set forth herein, in the respects hereinafter set forth:

1.     Effective
as of August 1, 2002, subparagraph (i) of paragraph (b) of Section 8.2 of
Appendix OO to the Plan is amended by adding at the end thereof the following:

For an
Employee who is described in Section 8.1 and to whom subsection (a) of Section
7.7 of this Appendix OO applies, subsection (a) of Section 7.7 of this Appendix
OO shall be applied by taking into account amounts earned after December 31,
2002 in determining the Employee’s “Total Monthly Compensation” (as defined in
and used for purposes of Article XXII of the Former Plan).

2.     Effective
as of May 20, 2002, Table 1, Pension Band Classifications (Effective October
16, 2001) of Appendix MM of the Plan is amended by replacing the Pension Band
of the Small Systems Technician to the following:

	
  Job Classification

  	
   

  	
  Pension Band

  
	
   

  	
   

  	
   

  
	
  Small Systems Technician

  	
   

  	
  12

  (13 effective 05/01/02)

  (16 effective 05/20/02)

  
	
   

  	
   

  	
   

  

3.     Effective
immediately following execution of an amendment to the ALLTEL Corporation
Profit-Sharing Plan (the “PSP”) to exclude periods of employment with Accucomm
Telecommunications Inc. prior to January 7, 2002 from counting as years of
eligibility service under the PSP for determining eligibility to receive an
allocation of forfeitures under the PSP for plan year 2002, Section 13 of
the Plan is amended by adding the following Section 13.39 thereto:

13.39                       Employees
of Accucomm Telecommunications Inc.

(a)                                  Effective Date — January 7,
2002.

(b)                                 Account - None.

 

(c)                                  Minimum Normal
Retirement Pension - None.

(d)                                 Minimum Early
Retirement Pension - None.

(e)                                  Minimum
Disability Retirement Pension - None.

(f)                                    Minimum
Deferred Vested Pension - None.

(g)                                 Minimum Death
Benefit - None.

(h)                                 Prior Plan
Offset - Not Applicable.

(i)                                     Provision
Relative to Section 401(a)(12) of the Code - Not Applicable.

(j)                                     Miscellaneous - See
APPENDIX PP - SPECIAL PROVISIONS APPLICABLE TO CERTAIN EMPLOYEES OF
ACCUCOMM TELECOMMUNICATIONS INC., which follows immediately hereafter.

 

APPENDIX PP

SPECIAL PROVISIONS APPLICABLE TO CERTAIN EMPLOYEES

OF

ACCUCOMM TELECOMMUNICATIONS INC.

Effective as of January 7, 2002, certain employees of
Accucomm Telecommunications Inc.  became employees of the Controlled Group.

Notwithstanding any other provision of the Plan, effective
January 7, 2002, the Plan is modified as set forth below with respect to active
employees of Accucomm Telecommunications Inc. who became employees of the
Controlled Group on January 7, 2002.

A.            Section 1.07
is modified by adding to the definition thereof the following:

                                                1.07PP                    “Basic
Compensation” shall include only amounts earned on and after January 7, 2002.

B.            Section 1.14
is modified by adding to the definition thereof the following:

                                                1.14PP                    “Compensation”
shall include only amounts earned after on and after January 7, 2002.

C.            Section 1.37(g)
is modified as follows:

                                                1.37(g)PP               Vesting
Service

 

2

 

(a)                                  A
Participant’s eligibility for benefits under the Plan shall be determined by
his period of Vesting Service, in accordance with the following:

(i)                                     Service Prior to January 7, 2002:  An Employee’s period(s) of employment with
Accucomm Telecommunications Inc. prior to January 7, 2002, shall be counted as
Vesting Service to the extent that such periods would have counted under the
Plan if such employment had been with the Company.

(ii)                                  Service From and After January 7,
2002:  In accordance with the provisions
of Section 1.37(g).

(iii)                               Notwithstanding any other provision of
the Plan, there shall be no duplication of Vesting Service (or Vesting Years of
Service) by reason of any restoration of, crediting of, or granting of service
in respect of any single period or otherwise.

D.            Section 1.37(d)
is modified as follows:

                                                1.37(d)PP               Benefit
Service

(a)                                  The amount of
the benefit payable to or on behalf of a Participant shall be determined on the
basis of his Benefit Service, in accordance with the following:

(i)                                     Benefit Service Prior to January 7,
2002:  None.

(ii)                                  Benefit Service From and After January 7,
2002:  In accordance with the provisions
of Section 1.37(d).

E.             Section 1.37(f)
is modified as follows:

                                                1.37(f)PP                Eligibility
Year of Service

(a)                                  A
Participant’s Eligibility Years of Service under the Plan shall be determined
in accordance with the following:

(i)                                     Service Prior to January 7, 2002:  An Employee’s period(s) of employment with
Accucomm Telecommunications Inc. prior to January 7, 2002, shall be counted as
Eligibility Years of Service to the extent that such periods would have counted
under the Plan if such employment had been with the Company.

(ii)                                  Service From and After January 7, 2002:  In accordance with the provisions of
Section 1.37(f).

 

3

 

(iii)                               Notwithstanding any other provision of
the Plan, there shall be no duplication of Eligibility Years of Service under
the Plan by reason of any restoration of, crediting of, or granting of service
in respect of any single period or otherwise.

4.     Effective
immediately following execution of an amendment to the ALLTEL Corporation
Profit-Sharing Plan (the “PSP”) to exclude periods of employment with
CenturyTel, Inc. prior to August 1, 2002 from counting as years of eligibility
service under the PSP for determining eligibility to receive an allocation of
forfeitures under the PSP for plan year 2002, Section 13 of the Plan is
amended by adding the following Section 13.40 thereto:

13.40       Employees of CenturyTel, Inc.

(a)                                  Effective Date — August 1,
2002.

(b)                                 Account - None.

(c)                                  Minimum Normal
Retirement Pension - None.

(d)                                 Minimum Early
Retirement Pension - None.

(e)                                  Minimum
Disability Retirement Pension - None.

(f)                                    Minimum
Deferred Vested Pension - None.

(g)                                 Minimum Death
Benefit - None.

(h)                                 Prior Plan
Offset - Not Applicable.

(i)                                     Provision
Relative to Section 401(a)(12) of the Code - Not Applicable.

(j)                                     Miscellaneous - See
APPENDIX QQ - SPECIAL PROVISIONS APPLICABLE TO CERTAIN EMPLOYEES OF
CENTURYTEL, INC., which follows immediately hereafter.

 

APPENDIX QQ

SPECIAL PROVISIONS APPLICABLE TO CERTAIN EMPLOYEES

OF

CENTURYTEL, INC.

Effective as of August 1, 2002, certain employees of
CenturyTel, Inc. became employees of the Controlled Group.  Certain employees of CenturyTel, Inc. became
employees after August 1, 2002, however, to the extent they transferred
employment pursuant to the Purchase Agreement, between CeturyTel, Inc. and
ALLTEL effective 

 

4

 

July 31, 2002, the special provisions of this section shall
apply by substituting the date of their transfer of employment for August 1,
2002.

Notwithstanding any other provision of the Plan, effective
August 1, 2002, the Plan is modified as set forth below with respect to active
employees of CenturyTel, Inc. who became employees of the Controlled Group on
August 1, 2002.

A.            Section 1.07
is modified by adding to the definition thereof the following:

                                                1.07QQ                   “Basic
Compensation” shall include only amounts earned on or after August 1, 2002.

B.            Section 1.14
is modified by adding to the definition thereof the following:

                                                1.14QQ                   “Compensation”
shall include only amounts earned on or after August 1, 2002.

C.            Section 1.37(g)
is modified as follows:

                                                1.37(g)QQ              Vesting
Service

(a)                                  A
Participant’s eligibility for benefits under the Plan shall be determined by
his period of Vesting Service, in accordance with the following:

(i)                                     Service Prior to August 1, 2002:  An Employee’s period(s) of employment with
CenturyTel, Inc. prior to August 1, 2002, shall be counted as Vesting Service
to the extent that such periods would have counted under the Plan if such
employment had been with the Company.

(ii)                                  Service From and After August 1, 2002:  In accordance with the provisions of
Section 1.37(g).

(iii)                               Notwithstanding any other provision of
the Plan, there shall be no duplication of Vesting Service (or Vesting Years of
Service) by reason of any restoration of, crediting of, or granting of service
in respect of any single period or otherwise.

D.            Section 1.37(d)
is modified as follows:

                                                1.37(d)QQ              Benefit
Service

(a)                                  The amount of
the benefit payable to or on behalf of a Participant shall be determined on the
basis of his Benefit Service, in accordance with the following:

 

5

 

(i)                                     Benefit Service Prior to August 1,
2002:  None.

(ii)                                  Benefit Service From and After August 1,
2002:  In accordance with the provisions
of Section 1.37(d).

E.             Section 1.37(f)
is modified as follows:

                                                1.37(f)QQ               Eligibility
Year of Service

(a)                                  A
Participant’s Eligibility Years of Service under the Plan shall be determined
in accordance with the following:

(i)                                     Service Prior to August 1, 2002:  An Employee’s period(s) of employment with
CenturyTel, Inc. prior to August 1, 2002, shall be counted as Eligibility Years
of Service to the extent that such periods would have counted under the Plan if
such employment had been with the Company.

(ii)                                  Service From and After August 1, 2002:  In accordance with the provisions of
Section 1.37(f).

(iii)                               Notwithstanding any other provision of
the Plan, there shall be no duplication of Eligibility Years of Service under
the Plan by reason of any restoration of, crediting of, or granting of service
in respect of any single period or otherwise.

IN
WITNESS WHEREOF, the Company, by its duly authorized officer, has caused this
Amendment No. 2 to ALLTEL Corporation Pension Plan (January 1, 2001
Restatement) to be executed on this 14 day of March, 2003.

	
   

  	
  ALLTEL CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Scott T. Ford

  
	
   

  	
   

  	
  Title:

  	
  President & CEO

  

 

 

6

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