Document:

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                                                                    EXHIBIT 10.5

                              TWE HOLDINGS II TRUST
                           801 WEST STREET, 2ND FLOOR
                               WILMINGTON DE 19801

June 21, 2006

TIME WARNER INC.
One Time Warner Center
New York, NY 10019

TIME WARNER CABLE INC.
290 Harbor Drive
Stamford, CT 06902

Ladies and Gentlemen:

     Reference is made to that certain Registration Rights Agreement, dated as
of March 31, 2003, by and among TWE Holdings II Trust, a Delaware statutory
trust ("Trust II"), Time Warner Inc. (formerly known as AOL Time Warner Inc.), a
Delaware corporation, and Time Warner Cable Inc., a Delaware corporation (the
"Issuer"), as amended by that certain Redemption Agreement, dated as of April
20, 2005 (as amended from time to time, the "Redemption Agreement"), by and
among Comcast Cable Communications Holdings, Inc., a Delaware corporation, MOC
Holdco II, Inc., a Delaware corporation, TWE Holdings I Trust, a Delaware
statutory trust, Trust II, Cable Holdco II Inc., a Delaware corporation, the
Issuer and the other parties named therein (as amended from time to time, the
"Rights Agreement"). Capitalized terms used herein and not otherwise defined
herein shall have the respective meanings assigned to them in the Rights
Agreement.

     The parties hereto agree on behalf of themselves and their respective
Affiliates as follows:

     (i) Execution of this letter agreement shall be deemed to be an election by
Issuer to delay Registration Actions by Issuer and each day that elapses from
Demand Filing Date (as defined in the Redemption Agreement) through the date
upon which the Issuer actually files the Section 2.3 Registration Statement
shall be applied towards Issuer's Deferral Period, as set forth in Section
6.3(c) of the Rights Agreement; and

     (ii) The first sentence of Section 6.3(c) of the Rights Agreement shall
until the Demand Registration Termination Date (as defined in the Redemption
Agreement) be deleted and replaced with the following:

     "Notwithstanding anything to the contrary in Section 6.3(b), the Issuer may
     only delay Registration Actions or suspend sales of

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     Registrable Securities for three periods (each, a "Deferral Period") of up
     to 90 days in the aggregate in any of fifteen consecutive months."

     Without limiting paragraph (i) above, this letter agreement shall be
without prejudice to the rights of either party with respect to whether the
Issuer has up until now or in the future used all commercially reasonable
efforts in connection with the obligations in respect of any Registration
Statement pursuant to the Rights Agreement, and no actions taken or not taken
pursuant to this letter agreement shall be usable as evidence as to whether such
obligations were met.

     This letter agreement will be governed by and construed in accordance with
the terms of the Agreement. This letter agreement may be executed in two or more
counterparts, each of which shall be deemed an original but all of which
together shall be considered one and the same agreement and shall become
effective when counterparts have been signed by each of the parties hereto and
delivered to the other parties, it being understood that all parties need not
sign the same counterpart.

                [Remainder of the Page Intentionally Left Blank]

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IN WITNESS WHEREOF, the undersigned has executed this letter agreement as of the
day and year first above written.

                                        TWE HOLDINGS II TRUST

                                        By: /s/ Edith E. Holiday
                                            ------------------------------------
                                        Name: Edith E. Holiday, solely in her
                                              capacity as Operating Trustee

                                        TIME WARNER INC.

                                        By: /s/ Michael Del Nin
                                            ------------------------------------
                                        Name: Michael Del Nin
                                        Title: Senior Vice President

                                        TIME WARNER CABLE INC.

                                        By: /s/ Satish Adige
                                            ------------------------------------
                                        Name: Satish Adige
                                        Title: SVP, Investments

Solely for purposes of Section 8.8
of the Rights Agreement

COMCAST CORPORATION

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

         [Signature Page of Comcast Registration Rights Deferral Letter]EX-10.6 AMENDMENT NO.4 TO ASSET PURCHASE AGREEMENT

 

Exhibit 10.6

EXECUTION COPY

AMENDMENT NO. 4 TO ASSET PURCHASE AGREEMENT BETWEEN

ADELPHIA COMMUNICATIONS CORPORATION AND

TIME WARNER NY CABLE LLC

          This Amendment No. 4, dated July 31, 2006 (this “Amendment”), amends the Asset
Purchase Agreement, between Adelphia Communications Corporation (“Seller”) and Time Warner
NY Cable LLC (“Buyer”), dated as of April 20, 2005, as amended by Amendment No. 1, dated
June 24, 2005, Amendment No. 2, dated June 21, 2006, Amendment No. 3, dated June 26, 2006 and as
otherwise amended to date (as so amended, the “TWNY Purchase Agreement”). Capitalized
terms used but not otherwise defined herein shall have the respective meanings ascribed to them in
the TWNY Purchase Agreement.

          WHEREAS, the parties hereto desire to amend the TWNY Purchase Agreement pursuant to Section
9.2 thereof to clarify certain provisions contained therein.

          NOW, THEREFORE, in consideration of the foregoing, the parties hereto, intending to be legally
bound, hereby agree as follows:

     1. The definition of “Escrow Payment” in Section 1.1 of the TWNY Purchase Agreement shall be
amended and restated in its entirety to read as follows:

          “Escrow Payment” means, as to any amount payable from the Escrow Account, an aggregate
amount payable, first, in cash (other than cash Interim Dividends), and, to the extent no cash
(other than cash Interim Dividends) remains in the Escrow Account, in Purchase Shares (other than
non-cash Interim Dividends) or, if applicable, MCE Purchase Shares (where each share is valued at
the Per Share Value of the Purchase Shares) (other than non-cash Interim Dividends);
provided, however, that any payment to Buyer in respect of an adjustment to the
Purchase Price pursuant to Section 2.7(c) or indemnification pursuant to Section 2.7(d) shall be
paid, first, in MCE Purchase Shares (other than non-cash Interim Dividends), and, to the extent no
MCE Purchase Shares remain in the Escrow Account, such payment shall be made as otherwise provided
for in this definition of Escrow Payment; provided, further, that (i) to the extent
payable in cash (other than cash Interim Dividends), such amount shall be increased by (A) in
respect of the portion of any such payment pursuant to Section 2.6(f), interest on such portion
from the date of the Closing to the date of payment at LIBOR calculated on an actual over 365-day
basis, and (B) in respect of the portion of any such payment pursuant to Section 7.2, interest on
such portion at LIBOR calculated on an actual over 365-day basis from the date notice of the Losses
for which indemnification is sought was delivered until the date of payment of indemnification by
the Indemnifying Party, and (ii) to the extent payable in shares of Parent Class A Common Stock,
such amount shall be increased by Interim Dividends made in respect of such shares.”

     2. The definition of “Interim Dividends” in Section 1.1 of the TWNY Purchase Agreement shall
be amended and restated in its entirety to read as follows:

 

 

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          “Interim Dividends” means, with respect to any shares of Parent Class A Common Stock,
any dividends declared and paid and other distributions made in respect of such shares following
the Closing, plus (to the extent of any dividends or other distributions paid in cash) interest
from the respective dates on which such dividends were paid to the date of payment, at LIBOR
calculated on an actual over 365-day basis; it being understood that the holder of such shares
shall be entitled to receive any dividends or other distributions declared but not paid following
the Closing upon the payment of such dividends or other distributions to the holders of Parent
Class A Common Stock.”

       3. The definition of “LIBOR” in Section 1.1 of the TWNY Purchase Agreement shall be amended
and restated in its entirety to read as follows:

          “LIBOR” means 5.543%.”

       4. The definition of “Pro Rata Payment” in Section 1.1 of the TWNY Purchase Agreement shall be
amended and restated in its entirety to read as follows:

          “Pro Rata Payment” means, as to any amount, an aggregate amount of cash and Purchase
Shares (where each Purchase Share is valued at the Per Share Value of the Purchase Shares) equal to
such amount and allocated as between cash and Purchase Shares such that 35.14% of such amount shall
be in the form of Purchase Shares and 64.86% of such amount shall be in cash; provided,
however, that (i) the cash portion of such amount shall be increased by (A) any Interim
Dividend paid in cash on the Purchase Shares included in such Pro Rata Payment and (B) in respect
of the portion of any cash payment by Buyer pursuant to (x) Section 2.6(f), interest on such
portion (without giving effect to the foregoing clause (A)) from the date of the Closing, as
applicable, to the date of payment at LIBOR calculated on an actual over 365-day basis and (y)
Section 7.2, interest on such portion (without giving effect to the foregoing clause (A)) at LIBOR
calculated on an actual over 365-day basis from the date notice of the Losses for which
indemnification is sought was delivered until the date of payment of indemnification by the Buyer
Indemnifying Party and (ii) to the extent payable in shares of Parent Class A Common Stock, such
amount shall be increased by Interim Dividends paid in stock on the Purchase Shares included in
such Pro Rata Payment.

       5. The proviso to Section 2.5 of the TWNY Purchase Agreement shall be amended by deleting the
phrase “33% of the Escrow Amount deposited at the Closing” and substituting in its place the phrase
“33% of the sum of (X) the Escrow Amount deposited at the Closing plus (Y) any deposit in the
Escrow Account pursuant to Section 2.6(f) plus (Z) interest on the cash portion of such amounts at
LIBOR calculated on an actual over 365-day basis from the date of such deposits”.

       6. Section 7.2(c) of the TWNY Purchase Agreement shall be amended by inserting the phrase
“(excluding any Escrow Earnings (as defined in the Escrow Agreement))” immediately after the phrase
“and with respect to each Specified Business, only up to an aggregate amount”.

 

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     7. Schedule 1.1(s)(ii) and Schedule 3.2(b) of the Seller Disclosure Schedule
shall be amended by inserting the following disclosure, which shall be deemed to have been included
in the Seller Disclosure Schedule (in the case of Schedule 1.1(s)(ii) as items 6 and 7, and
in the case of Schedule 3.2(b) as items 10 and 11) as of the date of the TWNY Purchase
Agreement:

	 	 	 	 	 
	 

	 	Adlink Cable

Advertising, LLC
	 	Class A membership interest held by ACC
Operations, Inc. and Desert Hot Springs Cablevision,
Inc.
	 
	 	 	 	 
	 

	 	Adelphia/TWC Cable

Advertising LLC

(Keene, Berlin, NH)
	 	Class A membership interest held by ACC
Operations, Inc.

     8. Schedule 2.2(j) of the Seller Disclosure Schedule shall be amended, which amendment
shall be deemed to have been made as of the date of the TWNY Purchase Agreement, by:

          (a) deleting row 17 and replacing such disclosure with the following:

     Intentionally Omitted

          (b) deleting the words “Class A Membership Interest” disclosed in respect of “Adlink Cable
Advertising, LLC” and replacing such disclosure with the words “Class A membership interest held by
Century-TCI California Communications, L.P.”,

          (c) renumbering item 4 as item 4(a), and

          (d) inserting the disclosure “All performance bonds, surety bonds, letters of credit and
similar instruments of Seller or any of its Affiliates” as a new item 4(b).

     9. The word “material” shall be deleted from the proviso to the first sentence in Section
7.4(a) of the TWNY Purchase Agreement.

     10. Except as specifically amended by this Amendment, the TWNY Purchase Agreement shall remain
in full force and effect and is hereby ratified and confirmed. This Amendment shall be construed
as one with the TWNY Purchase Agreement, and the TWNY Purchase Agreement shall, where the context
requires, be read and construed so as to incorporate this Amendment.

     11. This Amendment shall be governed by and construed in accordance with the TWNY Purchase
Agreement.

     12. This Amendment may be executed in one or more counterparts, each of which shall be deemed
an original, and all of which shall constitute one and the same Amendment.

 

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[Remainder of page intentionally left blank.]

 

 

     IN WITNESS WHEREOF, the parties have executed or caused this Amendment to be executed as of
the date first written above.

	 	 	 	 	 	 	 	 	 
	 	 	ADELPHIA COMMUNICATIONS CORPORATION
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Vanessa Wittman	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	Vanessa Wittman	 	 
	 	 	 	 	Title:	 	Executive Vice President and Chief Financial
Officer
	 
	 	 	 	 	 	 	 	 
	 	 	TIME WARNER NY CABLE LLC
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ David E. O’Hayre	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	David E. O’Hayre	 	 
	 	 	 	 	Title:	 	Executive Vice President, Investments

	 	 	 	 	 	 	 
	Acknowledged and Approved:	 	 
	 
	 	 	 	 	 	 
	COMCAST CORPORATION	 	 
	 
	 	 	 	 	 	 
	By:	 	  /s/ Robert S. Pick	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Robert S. Pick	 	 
	 

	 	Title:
	 	Senior Vice President

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