Document:

Exhibit 10.1

IN RE ADELPHIA COMMUNICATIONS
CORP. ET AL.

PLAN SUPPORT AGREEMENT

 

This Plan Support Agreement (the “Agreement”),
dated as of October 11, 2006, is entered into and made by and among the Debtors,
the Creditors Committee, Committee II, Huff, the Arahova Noteholders Committee,
Appaloosa Management LP, Deutsche Bank Securities Inc., Tudor and Highfields (Tudor
and Highfields being collectively the “Initial ACC Settling Parties”), and
each of the undersigned creditors (each, a “Consenting Holder” and,
together, the “Consenting Holders” and together with the other signatories
hereto, the “Parties”).  All
capitalized terms not defined herein shall have the same definitions as such
terms are defined in the Fifth Amended Joint Chapter 11 Plan for Adelphia
Communications Corporation and Certain Affiliated Debtors, dated September 27,
2006 (the “Plan”).

WHEREAS, on or about July 21, 2006, the Settlement
Parties and the Debtors executed the Term Sheet;

WHEREAS, on or about August 18, 2006, the Proponents
moved for an order approving, inter alia, the
Second Disclosure Statement Supplement relating to the Plan, which substantially
incorporated the terms of the Term Sheet;

WHEREAS, after hearings held on notice, on September
12 and September 19, 2006, the Bankruptcy Court found that the Second
Disclosure Statement Supplement contained “adequate information” as required by
section 1125 of the Bankruptcy Code, subject to certain modifications, and
requested at the conclusion of the September 19, 2006 hearing that the
Proponents settle an order approving the Second Disclosure Statement Supplement
(together with any further amendments thereto, the “Second Disclosure
Statement Supplement”);

WHEREAS, on or about September 15, 2006, OZ
Management, LLC, C.P. Management LLC and Satellite Asset Management, L.P. (the “Additional
ACC Settling Parties”, and together with the Initial ACC Settling Parties,
the “ACC Settling Parties”) filed that certain Statement of Certain ACC
Noteholders advising that the Additional ACC Settling Parties hold (and/or
manage investment funds and accounts which are holders of) ACC Senior Notes
having an aggregate principal amount of approximately $625 million.  During the hearing on September 19, 2006,
counsel further advised the Court that the Additional ACC Settling Parties
opposed the Term Sheet and Plan (in their then current form) and intended to
vote to reject the Plan.  Further, the
Additional ACC Settling Parties drafted for inclusion in the Second Disclosure
Statement Supplement a position statement setting forth their opposition to the
Plan, and encouraging other holders of ACC Senior Note Claims to vote to reject
the Plan;

WHEREAS, the Initial ACC Settling Parties and
Committee II, Huff and the Arahova Noteholders Committee have engaged in ongoing
discussions for the common purpose of effectuating the terms, purposes and
intent of the Term Sheet, and have agreed to certain changes in the Plan to do
so;

WHEREAS, certain Settlement Parties and the Additional
ACC Settling Parties have engaged in good faith negotiations with the objective
of reaching an agreement on certain additional amendments to the treatment of
the ACC Senior Notes Claims under the Plan that 

 

 

would garner the support
of Additional ACC Settling Parties for the Plan (as modified to incorporate
such amendments);

WHEREAS, each Settlement Party hereto desires to
support and, where applicable, to vote for confirmation of the Modified Plan
(as defined below), and the Proponents desire to obtain the commitment of the Settlement
Parties to support and, where applicable, to vote for the Modified Plan, in
each case subject to the terms and conditions set forth herein;

WHEREAS, the Parties have agreed to the terms of a
modified Plan (the “Modified Plan”), a copy of which is attached hereto,
which provides more favorable treatment for holders of ACC Senior Notes Claims
in Class ACC 3 if certain conditions as set forth therein have been satisfied;
and

WHEREAS, the Settlement Parties and the Additional ACC
Settling Parties do not desire and do not intend in any way to derogate from,
diminish or otherwise violate the solicitation requirements of applicable
securities and bankruptcy laws, the fiduciary duties of the Debtors or the
Creditors Committee, or the fiduciary duties of any Consenting Holder who is a
current or future member of the Creditors Committee;

NOW, THEREFORE, in consideration of the premises and
the mutual covenants and agreements set forth herein, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Parties, intending to be legally bound, agree as follows:

Section 1.               Support
for Modified Plan.  Each Party, including the Consenting Holders
(with respect to any and all Claims and Equity Interests owned, controlled or
managed by such Party (directly or indirectly) as of the date hereof and any
and all Claims and Equity Interests acquired or that become subject to such Party’s
control or management at any time thereafter), subject to the requirements of
section 1125 of the Bankruptcy Code, will support the Modified Plan and, as to
each Party entitled to vote under the Modified Plan (each, a “Voting Party”),
vote to accept the Modified Plan (whether or not such Party continues to be a
holder of ACC Senior Notes after the voting record date).  In addition, each Party will refrain (and with
respect to any Party that is a committee or ad hoc committee, use its best
efforts to cause its constituent members to refrain) from:  (a) actions detrimental to confirmation of
the Modified Plan, including, but not limited to, prosecuting any objection to
confirmation of the Modified Plan (whether confirmation is sought under section
1129(a) or (b) of the Bankruptcy Code, but subject solely to the rights of each
Party with respect to any determination of whether an ACC Senior Notes Claims
Accepting Class exists); (b) efforts to pursue, propose, support or encourage
the pursuit, proposal or support of any other chapter 11 plan or other
restructuring or reorganization other than the Modified Plan; or (c) any effort
to convert one or more of the Debtors’ cases to chapter 7.  Upon execution of this Agreement by the
Parties, the Proponents shall file with the Bankruptcy Court the Modified Plan (together
with such modifications to the Second Disclosure Statement Supplement as may be
necessary) and the Proponents shall take all reasonable actions and file all
pleadings to obtain confirmation of the Modified Plan.  Substantially contemporaneously with the
filing of the Modified Plan, the Initial ACC Settling Parties and the Additional
ACC Settling Parties, through their counsel, will file with the Bankruptcy
Court a statement (or a revised statement, as the case may be) in support of the
Modified Plan for 

 2
 

 

 

inclusion
in the Second Disclosure Statement Supplement. 
Each of the Voting Parties shall submit their completed ballots voting
all their Claims and Equity Interests to accept the Modified Plan as soon as
possible after the receipt thereof.  Each
Party that is a committee or ad hoc committee shall use its reasonable best
efforts to cause its constituent members to submit their completed ballots voting
all their Claims and Equity Interests held on the voting record date (which is
anticipated to be not later than October 12, 2006) to accept the Modified Plan as
soon as possible after the receipt thereof. 
Each of the Parties shall, to the extent consistent with the
requirements of section 1125 of the Bankruptcy Code and any applicable
fiduciary duties, use its reasonable best efforts (a) to obtain a written
agreement supporting the Modified Plan from any ad hoc committee
of which it is a member (including, with respect to the ACC Settling Parties,
the ACC Committee) and (b) to obtain the support for the Modified Plan of other
holders of Claims in the same class(es) as such Party.  Each of the Parties that is an ad hoc
committee shall, to the extent consistent with the requirements of section 1125
of the Bankruptcy Code, use its best efforts to cause each individual member of
such ad hoc committee(s) to execute a
counterpart to this Plan Support Agreement, and vote to accept the Modified
Plan.

Section 2.               Acknowledgment.  This Agreement is not and shall not be deemed
to be a solicitation for consents to the Plan or the Modified Plan.  The Debtors’ obligations under this Agreement
shall be subject to the entry by the Bankruptcy Court of an order approving the
Second Disclosure Statement Supplement and authorizing the Debtors to propose
the Modified Plan as provided herein. 
The acceptance of the Consenting Holders and all other creditors will not be solicited
until such Parties have received the Second Disclosure Statement Supplement and
related ballot, as approved by the Bankruptcy Court.  The Parties also acknowledge that the
deadline to achieve the Effective Date of the Modified Plan is December 22,
2006, unless extended in writing by the Parties.

Section 3.               Termination.  Unless extended in writing by the Parties, the
obligations of the Parties hereunder shall terminate only upon the earlier to
occur of (a) the Court’s denial with prejudice of the Proponents’ request for
approval of the Second Disclosure Statement Supplement, (b) December 22, 2006
and (c) the Effective Date of the Modified Plan.

Section 4.               Representations
and Warranties.  Each Party, other
than the Creditors Committee or any ad hoc committee, severally and not
jointly, represents, covenants, warrants and agrees to each other Party, only
as to itself and not as to each of the others, that the following statements,
as applicable, are true, correct and complete as of the date hereof:

(1)           Power and Authority.  It has all requisite corporate, partnership, limited
liability company power and authority to enter into this Agreement and to carry
out the transactions contemplated hereby, and to perform its obligations
hereunder.

(2)           Due Organization.  It is duly organized, validly existing and in
good standing under the laws of its state of organization and it has the
requisite power and authority to execute and deliver this Agreement and to
perform its obligations hereunder.

(3)           Authorization.  The execution and delivery of this Agreement
and the performance of its obligations hereunder have been duly authorized by
all necessary corporate, 

 3
 

 

 

partnership or limited
liability company action on its part; provided, however, that the Debtors’
authority to enter into this Agreement is subject to Bankruptcy Court approval.

Section 5.               Complete
Agreement, Modification of Agreement. 
This Agreement constitutes the complete agreement between the Parties
with respect to the subject matter hereof, provided, however, that the
provisions of the Term Sheet that are not inconsistent with this Agreement
and/or the Modified Plan annexed hereto shall remain unaffected by this
Agreement.  This Agreement may not be
modified, altered, amended or supplemented except by an agreement in writing
signed by the Proponents and the Consenting Holders.

Section 6.               Governing
Law.  THIS AGREEMENT SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK
APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED IN SUCH STATE AND THE
APPLICABLE SECTIONS OF THE BANKRUPTCY CODE. 
By its execution and delivery of this Agreement, each of the Parties
hereto hereby irrevocably and unconditionally agrees for itself that any legal
action, suit or proceeding against it with respect to any matter under or
arising out of or in connection with this Agreement or for recognition or
enforcement of any judgment rendered in any such action, suit or proceeding, shall
be brought in the Bankruptcy Court.  By
execution and delivery of this Agreement, each of the Parties hereto hereby
irrevocably accepts and submits itself to the exclusive jurisdiction of such
court, generally and unconditionally, with respect to any such action, suit or
proceeding.

Section 7.               Modification
of Modified Plan.  No modification or
change to the Modified Plan may be made that is adverse to any Party in its
capacity as a holder or representative of Claims without the written consent of
that Party.  Without waiving the foregoing,
if a modification or change is made to the Modified Plan pursuant to an order
of the Bankruptcy Court that is adverse to a Party without the written consent
of such adversely affected Party, such Party shall be released from its
obligations under this Agreement and no Party to this Agreement (nor any
constituent member of any committee or ad hoc committee that is a Party to this
Agreement) shall object to a request by such an adversely affected Voting Party
to change any vote previously cast with respect to the Modified Plan.  Any modification or change to the Modified
Plan that either (a) is not adverse to any Party, or (b) is with the written
consent of any adversely affected Party, shall not release any Party from its
obligations under this Agreement.

Section 8.               Several
Obligations.  Except as otherwise
provided herein, the obligations of the Parties hereunder are several and not
joint.

Section 9.               Counterparts.  This Agreement may be executed in any number
of counterparts, each of which shall, collectively and separately, constitute
one and the same agreement.

 4
 

 

 

IN WITNESS WHEREOF, the Parties have executed this
Agreement as of the date first written above.

 

	
  OZ
  MANAGEMENT, LLC

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Daniel Och

  	
   

  
	
  By: Daniel Och

  
	
  Its:

  
	
   

  
	
   

  
	
  C.P.
  MANAGEMENT LLC

  
	
   

  
	
   

  
	
  /s/ Mark Lerner

  	
   

  
	
  By: Mark Lerner

  
	
  Its: Member

  
	
   

  
	
   

  
	
  SATELLITE ASSET MANAGEMENT, L.P.

  
	
   

  
	
   

  
	
  /s/ Simon
  Raykher

  	
   

  
	
  By: Simon
  Raykher

  
	
  Its: General
  Counsel

  
	
   

  
	
   

  
	
  OFFICIAL
  COMMITTEE OF UNSECURED CREDITORS

  
	
   

  
	
   

  
	
   

  
	
  /s/ Michael
  McGuiness

  	
   

  
	
  By: Michael
  McGuiness

  
	
  Its: Chairperson

  
	
   

  
	
   

  
	
   

  
	
  KASOWITZ,
  BENSON, TORRES & FRIEDMAN LLP

  
	
   

  
	
   

  
	
   

  
	
  /s/ David M.
  Friedman

  	
   

  
	
  By: David M.
  Friedman, Esq.

  
	
   

  
	
   

  
	
  Attorneys
  for the Official Committee of Unsecured Creditors

  
	
   

  
	
   

  
	
  ADELPHIA COMMUNICATIONS CORP. (for itself
  and on behalf of each of the Debtors)

  
	
   

  
	
   

  
	
   

  
	
   

  
	
  /s/ Vanessa Wittman

  	
   

  
	
  By: Vanessa Wittman

  
	
  Its:  Chief Financial Officer

  
	
   

  
			

 

 5
 

 

 

	
  W.R. HUFF ASSET MANAGEMENT CO., L.L.C.

  
	
   

  
	
   

  
	
   

  
	
  /s/  Michael McGuiness

  	
   

  
	
  By: Michael
  McGuiness

  
	
   

  
	
   

  
	
   

  
	
  FRIED,
  FRANK, HARRIS, SHRIVER & JACOBSON LLP

  
	
   

  
	
   

  
	
   

  
	
  /s/ Brad Eric
  Scheler

  	
   

  
	
  By: Brad Eric
  Scheler, Esq.

  
	
  A Member of the
  Firm

  
	
   

  
	
   

  
	
   

  
	
  Counsel
  to W.R. Huff Asset Management Co., L.L.C.

  
	
   

  
	
   

  
	
  TUDOR
  INVESTMENT CORPORATION

  
	
   

  
	
   

  
	
   

  
	
  /s/ Darryl
  Schall

  	
   

  
	
  By: Darryl Schall

  
	
   

  
	
   

  
	
   

  
	
   

  
	
  HIGHFIELDS
  CAPITAL MANAGEMENT, LP

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Joseph Mazzella

  	
   

  
	
  By: Joseph Mazzella

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  GOODWIN PROCTER LLP

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/
  Gina Lynn Martin

  	
   

  
	
  By: Gina Lynn Martin

  	
   

  
	
   

  	
   

  
	
  Attorneys for Tudor Investment Corporation and
  Highfields Capital

  
	
   

  	
   

  
				

 

 6
 

 

 

	
  FRANKLIN MUTUAL ADVISERS, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/  Shawn Tumulty

  	
   

  
	
  By: Shawn
  Tumulty

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  PACHULSKI STANG ZIEHL YOUNG
  JONES & WEINTRAUB LLP

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Richard M. Pachulski

  	
   

  
	
  For: Dean Ziehl, Esq.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Attorneys for the Committee II

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  APPALOOSA MANAGEMENT LP

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/
  Ronald Goldstein

  	
   

  
	
  By: Ronald
  Goldstein

  	
   

  
	
   

  	
   

  
	
  DEUTSCHE BANK SECURITIES INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/  Matthew Doheny

  	
   

  
	
  By: Matthew
  Doheny

  	
   

  
	
   

  	
   

  
	
  WHITE & CASE LLP

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Chris Shore

  	
   

  
	
  By: Chris Shore

  	
   

  
	
   

  	
   

  
	
  Counsel to the Ad Hoc Committee of Arahova
  Noteholders (Except with respect to the treatment of the Bank Claims)

  

 

 7Unassociated Document

    
      

    

    
      	 	
              COMMON
                STOCK

            	 	
              COMMON
                STOCK

            	 
	 	
              PAR
                VALUE $.001

            	 	 	 
	 	 	 	 	 
	
              Certificate
                Number

              ZQ
                000410

            	 	
              BROWNSHIRE
                HOLDINGS, INC.

              INCORPORATED
                UNDER THE LAWS OF THE STATE OF NEVADA

              80,000,000
                AUTHORIZED SHARES $.001 PAR VALUE

            	 	
              Shares

              600620

            
	 	 	 	 	 
	 	
              THIS
                CERTIFIES THAT

            	
              MR.
                SAMPLE & MRS. SAMPLE

            	
              CUSIP
                116136 10 2

            	 
	 	 	 	
              SEE
                REVERSE FOR CERTAIN DEFINITIONS

            	 
	 	 	 	 	 
	 	
              is
                the owner of

            	
              SIX
                HUNDRED THOUSAND SIX HUNDRED AND TWENTY

            	 	 

    

    

    FULLY-PAID
      AND NON-ASSESSABLE SHARES OF THE COMMON STOCK OF

    

    BROWNSHIRE
      HOLDINGS, INC. (hereinafter called the "Company"), transferable
      on the books of the Company in person or by duly authorized attorney, upon
      surrender of this Certificate properly endorsed. This Certificate
      and the shares represented hereby, are issued and shall be held subject to
      all
      of the provisions of the Articles
      of Incorporation, as amended, and the By-Laws, as amended, of the Company
      (copies of which are on file with the Company and with the Transfer Agent),
      to
      all of which each holder, by acceptance hereof, assents. This Certificate is
      not
      valid unless countersigned and registered by the Transfer Agent and
      Registrar.

    

    Witness
      the
      facsimile seal of the Company and the facsimile signatures of its duly
      authorized officers.

     

    
      	
              /s/
                illegible

            	
               

            	
              DATED
                «Month Day, Year»

               

              COUNTERSIGNED
                AND REGISTERED

              COMPUTERSHARE
                TRUST COMPANY, INC.

              (DENVER)

              TRANSFER
                AGENT AND REGISTRAR, 

               

            
	
               President

            
	
              /s/
                illegible

            
	
              Vice
                President

            	 	
              By  
                

            	 
	 	 	 	
              AUTHORIZED
                SIGNATURE

            

    

    SECURITY
      INSTRUCTIONS ON REVERSE

    14969

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    BROWNSHIRE
      HOLDING, INC.

    TRANSFER
      FEE $25.00

     

    
      	
              The
                following abbreviations, when used in the inscription on the face
                of this
                certificate, shall be construed as though they were written out in
                full
                according to applicable laws or regulations:

            
	
              TEN
                COM 

            	
              -as
                tenants in common

            	
              UNIF
                GIFT MIN ACT-

            	 	
              Custodian

            	 	 
	 	 	 	
              (Cust)

            	 	
              (Minor)

            	 
	
              TEN
                ENT

            	
              -
                as tenants by the entireties

            	 	
              under
                Uniform Gifts to Minors Act

            	 	 
	 	 	 	 	 	
              (State)

            	 
	
              JT
                TEN

            	
              -as
                joint tenants with right of survivorship

            	
              UNIF
                TRF MIN ACT

            	 	
              Custodian
                (until age    )

            	 	 
	 	
              and
                not as tenants in common

            	 	
              (Cust)

            	 	
              (Minor)

            	 
	 	 	 	
              under
                Uniform Transfers to Minors Act

            	 	 
	 	 	 	 	
               

            	
               (State)

            	 
	
              Additional
                abbreviations may also be used though not in the above
                list.

            

    

    

    THE
      COMPANY WILL FURNISH WITHOUT CHARGE TO EACH SHAREHOLDER WHO SO REQUESTS, A
      SUMMARY OF THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE, PARTICIPATING,
      OPTIONAL OR OTHER SPECIAL RIGHTS OF EACH CLASS OF STOCK OF THE COMPANY AND
      THE
QUALIFICATIONS,
      LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES AND RIGHTS, AND THE VARIATIONS
      IN RIGHTS, PREFERENCES AND LIMITATIONS
      DETERMINED FOR EACH SERIES, WHICH ARE FIXED BY THE ARTICLES OF INCORPORATION
      OF
      THE COMPANY, AS AMENDED, AND THE RESOLUTIONS OF THE BOARD OF DIRECTORS OF THE
      COMPANY, AND THE AUTHORITY OF THE BOARD OF DIRECTORS TO DETERMINE VARIATIONS
      FOR
      FUTURE SERIES. SUCH REQUEST MAY BE MADE TO THE OFFICE OF THE SECRETARY OF THE
      COMPANY OR TO THE TRANSFER AGENT. THE BOARD OF DIRECTORS MAY REQUIRE THE OWNER
      OF A LOST OR DESTROYED STOCK CERTIFICATE, OR HIS LEGAL REPRESENTATIVES, TO
      GIVE
      THE COMPANY A BOND TO INDEMNIFY IT AND ITS TRANSFER AGENTS AND REGISTRARS
      AGAINST ANY CLAIM THAT MAY BE MADE AGAINST THEM ON
      ACCOUNT OF THE ALLEGED LOSS OR DESTRUCTION OF ANY SUCH CERTIFICATE.

    

    
      	 	
              PLEASE
                INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF
                ASSIGNEE

            
	
              For
                value received,
                _____________ hereby
                sell, assign and transfer unto

            	 

    

    

    
      	 	 
	
              (PLEASE
                PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF
                ASSIGNEE)

            	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	
              Shares

            
	
              of
                the capital stock represented by the within Certificate, and do hereby
                irrevocably constitute and appoint

            	 
	 	 
	 	
              Attorney

            
	
              to
                transfer the said stock on the books of the within-named Corporation
                with
                full power of substitution in the premises.

            	 

    

    

    
      	 	 	 	 	 	 
	
              Dated:

            	 	
              20

            	 	 	
              Signature(s)
                Guaranteed: Medallion Guarantee Stamp

              THE
                SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION
                (Banks, Stockbrokers, Savings and Loan Associations and Credit Unions)
                WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM,
                PURSUANT TO S.E.C. RULE 17Ad-15.

            
	 	 	 	 	 
	
              Signature:

            	 	 	 	 
	 	 	 	 	 
	
              Signature:

            	 	 	 	 
	 	
              Notice:   The
                signature to this assignment must correspond with the name as
                written upon the face of the certificate, in every particular,
                without
                alteration or enlargement, or any change whatever.

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