Document:

Exhibit 10.24

    
      

    

     

    VIEWSONIC
      2007 MANAGEMENT INCENTIVE PLAN

    

    OBJECTIVES:

    

    
      	 	
              ·

            	
               Drive
                execution of ViewSonic Corporation’s (the “Company”)
                strategic objectives;

            

    

    
      	 	
              ·

            	
              Drive
                growth and accountability;

            

    

    
      	 	
              ·

            	
              Attract
                and retain management; and

            

    

    
      	 	
              ·

            	
               Motivate
                and inspire the Company’s executive officers and senior management to
                contribute at peak performance.

            

    

    

    EFFECTIVE
      DATE: The
      2007
      Management Incentive Plan (the “Plan”)
      shall
      be effective as of May 9, 2007 and shall apply to performance in
      2007.

     

    ELIGIBILITY:
      The
      executive officers (as defined under the Securities Exchange Act of 1934, as
      amended) of the Company, designated by the Compensation Committee of the Board
      of Directors (the “Committee”),
      and
      members of senior management of the Company, designated by the Chief Executive
      Officer, who are employed (full time or part time) by the Company during 2007
      shall be eligible to participate in the Plan (collectively, the “Participants”).
      Each
      Participant shall be classified as a “Corporate
      Participant”
or
      “Regional
      Participant”
or
      “Business
      Unit Participant,”
      by the
      Compensation Committee or the Chief Executive Officer, as applicable.

     

    INCENTIVE
      PLAN TARGET:
      The
      Plan is designed to award a cash payment (each an “Incentive
      Cash Payment”)
      for
      performance in 2007 to a Participant if the Company achieves certain corporate
      performance targets (“Corporate
      Targets”)
      and if
      the Participant achieves certain individual targets (“Individual
      Targets”).
      Each
      Participant’s target Incentive Cash Payment under the Plan is calculated as a
      percentage of the Participant’s annual base salary. With respect to the
      Company’s executive officers, this percentage shall be set by the Committee.
      With respect to all other Plan Participants, this percentage shall be set by
      the
      Chief Executive Officer. 

     

    The
      Corporate Targets for Corporate Participants shall be: consolidated net sales
      and consolidated net income. The Corporate Targets for Regional Participants
      and
      Business Unit Participants shall be: consolidated net sales, consolidated net
      income, and regional or business unit net sales and regional or business unit
      operating profit. Each of the Corporate Targets shall be determined in
      accordance with U.S. generally accepted accounting principles.

     

    ADMINISTRATION:
      The
      Committee shall administer the Plan. The Committee shall set the Corporate
      Targets for the Participants and the Individual Targets for the Company’s
      executive officers. The Committee shall determine if the Corporate Targets
      have
      been met and shall determine whether the Company’s executive officers have
      achieved the Individual Targets.

     

    The
      Chief
      Executive Officer shall set the Individual Targets for all other Participants.
      The Chief Executive Officer shall determine whether such Participants have
      achieved the Individual Targets.

     

    PAYMENT
      SCHEDULE:
      Incentive Cash Payments under the Plan shall occur approximately 45 to 90 days
      after the completion of a quarterly or semi-annual period. With respect to
      the
      Company’s executive officers, Incentive Cash Payments shall be calculated and
      paid on a semi-annual basis. With respect to all other Participants, Incentive
      Cash Payments shall be calculated and paid on a quarterly basis. 

     

    If
      a
      Participant is hired after January 1, 2007, a Participant’s Incentive Cash
      Payment will be prorated for the numbers of full months served during
      2007.

     

    Participants
      must remain actively employed on the date of the payment of the Incentive Cash
      Payment for the applicable period in order to be eligible to receive an
      Incentive Cash Payment under the Plan. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    INITIAL
      THRESHOLD ACHIEVEMENT:
      The
      following minimum thresholds must be achieved in order for a Participant to
      be
      eligible to receive an Incentive Cash Payment for the respective period under
      the Plan:

     

    
      	 	
              ·

            	
              For
                Corporate Participants, a minimum of 50% of the consolidated net
                income
                target and
                80% of the consolidated net sales target (the “Consolidated
                Thresholds”);
                

            

    

     

    
      	 	
              ·

            	
              For
                Regional Participants or Business Unit Participants, a minimum of
                50% of
                the regional or business unit operating profit target and
                80% of the regional or business unit net sales target (“Regional
                Thresholds” or
                “Business
                Unit Thresholds”).
                

            

    

     

    In
      the
      event that a threshold is not met for the respective period, the Participant
      shall not be entitled to an Incentive Cash Payment for the respective period
      under the Plan.

     

    In
      the
      event that the Consolidated Thresholds are not achieved, but the Regional
      Thresholds or Business Unit Thresholds are achieved or exceeded for the
      respective period, the Chief Executive Officer may elect to pay the Regional
      Participants or Business Unit Participants a reduced incentive cash payment
      for
      the respective period of 50% of their achieved target amount. 

     

    INCENTIVE
      PLAN COMPONENTS:
      If the
      thresholds are achieved for Participants, Participants shall be entitled to
      receive Incentive Cash Payments under the Plan based upon the following
      weightings:

     

    
      	 	
              Corporate
                Participants

            	
              Regional
                or Business Unit Participants

            
	
              Consolidated
                net sales

            	
              35%

            	
              10%

            
	
              Consolidated
                net income

            	
              35%

            	
              10%

            
	
              Regional
                or business unit net sales

            	
              0%

            	
              25%

            
	
              Regional
                or business unit operating profit

            	
              0%

            	
              25%

            
	
              Individual
                Targets

            	
              30%

            	
              30%

            
	
              Total

            	
              100%

            	
              100%

            

    

     

    The
      net
      sales component of the consolidated, regional or business unit Corporate Targets
      shall be weighted as follows:

     

    
      	
              %
                of Net Sales Target Achieved

            	
              Weight

            	
              Example
                (Corporate Participant)

            
	
              Zero
                up to 79%

            	
              Zero

            	
              0
                x
                35% = 0

            
	
              80%
                up to 100%

            	
              1%
                for each 1% of net sales achieved

            	
              90%
                x 35% = 31.5%

            
	
              101%
                and beyond

            	
              2%
                for each 1% of net sales achieved, up to 200%

            	
              110%
                x 35% =38.5%

            

    

     

    The
      net
      income or operating profit component of the consolidated, regional or business
      unit Corporate Targets shall be weighted as follows:

    

      
        	
                %
                  of Consolidated Net Income Target or Regional / Business Unit Operating
                  Profit Achieved

              	
                Weight

              	
                Example
                  (Regional Participant)

              
	
                Zero
                  up to 49%

              	
                Zero

              	
                0
                  x
                  10% = 0

              
	
                50%
                  up to 100%

              	
                1%
                  for each 1% of consolidated net income or operating profit, as
                  applicable,
                  achieved

              	
                60%
                  x 10% = 6%

              
	
                101%
                  and beyond

              	
                2%
                  for each 1% of consolidated net income or operating profit, as
                  applicable,
                  achieved, up to 200%

              	
                120%
                  x 10% = 12%

              

      

    

    

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

     

    INCENTIVE
      CASH PAYMENTS: 

     

    With
      respect to the Corporate and Individual Targets, each Participant’s Incentive
      Cash Payment is calculated for the applicable period as follows: 

     

    Portion
      of target Incentive Cash Payment attributable to the Corporate Targets = [Target
      Incentive Cash Payment x 70%] x consolidated or regional/business actual results
      (0 to 140%).

     

    Portion
      of target Incentive Cash Payment attributable to Individual Targets = [Target
      Incentive Cash Payment x 30%] x individual achievement score (0 to
      60%).

     

    MISCELLANEOUS:

     

    Participation
      in the Plan shall not alter in any way the at will nature of the Company’s
      employment of a Participant, and such employment may be terminated at any time
      for any reason, with or without cause and with or without prior notice.

    

    The
      Board
      of Directors or the Committee may amend or terminate this Plan at any time.
      Further, the Board of Directors or the Committee may modify the consolidated,
      regional or business unit Corporate Targets or the Individual Targets at any
      time.

    

    The
      aggregate Incentive Cash Payments under the Plan shall not exceed 14% of the
      Company’s consolidated net income for the year ended December 31, 2007 and may
      be reduced on a pro rata basis across all Participants or in such other manner
      as the Board of Directors or the Committee shall determine.

    

    This
      Plan
      shall be governed by and construed in accordance with the laws of the State
      of
      California, without regard to its principles of conflicts of laws.Exhibit 10.28

    
      

    

    RCN
      CORPORATION

     

    2007
      SHORT-TERM INCENTIVE PLAN

     

    (Effective
      January 1, 2007)

     

     

    
      	 	
              1.

            	
              BACKGROUND
                AND PURPOSE

            

    

     

    RCN
      Corporation, a Delaware corporation, hereby adopts the RCN Corporation 2007
      Short-Term Incentive Plan (the “Plan”), effective as of January 1, 2007. The
      purpose of the Plan is to provide employees and the officers of RCN Corporation
      (the “Company”) and the Company’s Affiliates (as defined below) with an
      incentive to accomplish such business objectives as from time to time may be
      determined by the Committee.

     

    
      	 	
              2.

            	
              DEFINITIONS

            

    

     

    (a)    “Affiliate”
means,
      with respect to any Person, any other person that, directly or indirectly,
      is in
      control of, is controlled by, or is under common control with, such Person.
      For
      purposes of this definition, the term “control,” including its correlative terms
“controlled by” and “under common control with,” mean, with respect to any
      Person, the possession, directly or indirectly, of the power to direct or cause
      the direction of the management and policies of such Person, whether through
      the
      ownership of voting securities, by contract or otherwise.

     

    (b)    “Award”
means
      a
      cash bonus award granted under the Plan. An Award shall be expressed as the
      percentage of a Grantee’s base salary and payable for the Performance Period or
      Quarterly Performance Period, as the case may be, that shall become payable
      if
      the Targets established by the Committee are satisfied. The portion of an Award
      that shall be payable to a Grantee shall be determined by the Committee in
      accordance with the rules established for the Award for the Performance Period
      or Quarterly Performance Period, as the case may be.

     

    (c)    “Board”
means
      the Board of Directors of the Company.

     

    (d)    “Change
      of Control”
      means:

     

    (i)    “person”
      (as such term is used in Sections 3(a)(9) and 13(d) of the Securities Exchange
      Act of 1934 (the “1934 Act”)) or “group” (as such term is used in Section
      14(d)(2) of the 1934 Act) is or becomes a “beneficial owner” (as such term is
      used in Rule 13d-3 promulgated under the 1934 Act) of 50% or more of the Voting
      Stock of the Company; provided, however, that the following acquisitions will
      not constitute a Change of Control: (i) any acquisition by any employee benefit
      plan (or related trust) sponsored or maintained by the Company or any Subsidiary
      or (ii) any acquisition by any corporation pursuant to a reorganization, merger
      or consolidation, if such reorganization, merger or consolidation does not
      constitute a Change of Control under clause (5) of this definition;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (ii)    all
      or
      substantially all of the assets or business of the Company and its Subsidiaries
      (on a consolidated basis) are disposed of pursuant to a merger, consolidation
      or
      other transaction unless, immediately after such transaction, the stockholders
      of the Company immediately prior to the transaction own, directly or indirectly,
      in substantially the same proportion as they owned the Voting Stock of the
      Company prior to such transaction more than 50% of the Voting Stock of the
      company surviving such transaction or succeeding to all or substantially all
      of
      the assets or business of the Company and its Subsidiaries or the ultimate
      parent company of such surviving or successor company if such surviving or
      successor company is a subsidiary of another entity (there being excluded from
      the number of shares held by such stockholders, but not from the Voting Stock
      of
      the combined company, any shares received by affiliates of such other company
      in
      exchange for stock of such other company); 

     

    (iii)   a
      majority of the Board consists of individuals other than Incumbent Directors,
      which term means the members of the Board on January 1, 2007 or, if any such
      individual is no longer a member of the Board, any successor to any such
      individual (or to any successor to any such individual) if the election or
      nomination for election of such individual or successor was approved by a
      majority of the directors who then comprised the Incumbent Directors;

     

    (iv)   the
      Company adopts any plan of liquidation providing for the distribution of all
      or
      substantially all of its assets if such plan of liquidation will result in
      the
      winding-up of the business of the Company; or 

     

    (v)    the
      consummation of any merger, consolidation or other similar corporate transaction
      unless immediately after such transaction the stockholders of the Company
      immediately prior to the transaction own, directly or indirectly, in
      substantially the same proportion as they owned the Voting Stock of the Company
      immediately prior to such transaction, more than 50% of the Voting Stock of
      the
      company surviving such transaction or its ultimate parent company if such
      surviving company is a subsidiary of another entity (there being excluded from
      the number of shares held by such stockholders, but not from the Voting Stock
      of
      the combined company, any shares received by affiliates of such other company
      in
      exchange for stock of such other company). 

     

    For
      purposes of this definition, the “Company” shall include any entity that
      succeeds to all or substantially all of the business of the Company; and “Voting
      Stock” shall mean securities of any class or classes having general voting power
      under ordinary circumstances, in the absence of contingencies, to elect the
      directors of a corporation; and references to ownership of “more than 50% of the
      Voting Stock” shall mean the ownership of shares of Voting Stock that represent
      the right to exercise more than 50% of the votes entitled to be cast in the
      election of directors of a corporation.

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

    (e)    “Committee”
means
      the Compensation Committee of the Board or such other committee of the Board
      assigned by the Board to administer the Plan.

     

    (f)    
“Company”
means
      RCN Corporation, a Delaware corporation, including any successor thereto by
      merger, consolidation, acquisition of all or substantially all the assets
      thereof, or otherwise.

     

    (g)    “Eligible
      Employee”
means
      an employee of the Company or an Affiliate, as determined by the Committee
      in
      accordance with Section 4.

     

    (h)    “Grantee”
means
      an Eligible Employee who is granted an Award.

     

    (i)    
“Person”
means
      an individual, a corporation, a partnership, an association, a trust or any
      other entity or organization.

     

    (j)    
“Plan”
means
      the RCN Corporation 2007 Short-Term Incentive Plan, as set forth herein, and
      as
      amended from time to time.

     

    (k)    “Performance
      Period”
means
      the Company’s current fiscal year beginning on January 1, 2007 and ending on
      December 31, 2007, or such shorter period of time or times, as may be applicable
      to a Grantee or a class of Grantees, as established by the Committee in its
      discretion (such shorter period of time hereinafter referred to as the
“Quarterly
      Performance Period”).
      

     

    (l)    
“Individual
      Performance Objectives”
means
      performance objectives other than Corporate Performance Objectives, including
      but not limited to customer service, management effectiveness, individual
      employee performance ratings and other Individual Performance Objectives
      relevant to the Company’s business, as may be established by the Committee, and
      the achievement of which shall be determined in the discretion of the Committee.
      Individual Performance Objectives may differ among Grantees or classes of
      Grantees. 

     

    (m)    “Corporate
      Performance Objectives”
means
      the performance objectives such as (i) revenues, (ii) earnings before interest,
      taxes, depreciation and amortization, (iii) free cash flow, (iv) number of
      customers of or subscribers for various services and products offered by the
      Company or a division, and (v) other objective financial or service-based
      objectives relevant to the Company’s business as may be established by the
      Committee. Corporate Performance Objectives may differ among Grantees or classes
      of Grantees. 

     

    (n)    “Target”
means,
      for the Performance Period, or a Quarterly Performance Period, as the case
      may
      be, the Individual Performance Objectives and the Corporate Performance
      Objectives established by the Committee, in its discretion, and as set forth
      on
      Appendix, attached hereto. Individual Performance Objectives, Corporate
      Performance Objectives and the weighting of such Objectives may differ among
      Grantees or classes of Grantees. 

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

     

    (o)    “Third
      Party”
means
      any Person, together with such Person’s Affiliates, provided that the term
“Third Party” shall not include the Company or an Affiliate of the
      Company.

     

    
      	 	
              3.

            	
              ADMINISTRATION
                OF THE PLAN

            

    

     

    (a)    Administration.
      The
      Plan shall be administered by the Committee. The Committee shall have the power
      and duty to do all things necessary or convenient to effect the intent and
      purposes of the Plan and not inconsistent with any of the provisions hereof,
      whether or not such powers and duties are specifically set forth herein, and,
      by
      way of amplification and not limitation of the foregoing, the Committee shall
      have the power to:

     

    (i)    provide
      rules and regulations for the management, operation and administration of the
      Plan, and, from time to time, to amend or supplement such rules and
      regulations;

     

    (ii)    construe
      the Plan, which construction, as long as made in good faith, shall be final
      and
      conclusive upon all parties hereto;

     

    (iii)   correct
      any defect, supply any omission, or reconcile any inconsistency in the Plan
      in
      such manner and to such extent as it shall deem expedient to carry the same
      into
      effect, and it shall be the sole and final judge of when such action shall
      be
      appropriate; and

     

    (iv)   determine
      whether the conditions to the payment of a cash bonus pursuant to an Award
      have
      been satisfied.

     

    The
      resolution of any questions with respect to payments and entitlements pursuant
      to the provisions of the Plan shall be determined by the Committee, and all
      such
      determinations shall be final and conclusive. 

     

    (b)    Grants.
      Subject
      to the express terms and conditions set forth in the Plan, the Committee shall
      have the power, from time to time, to select those Eligible Employees to whom
      Awards shall be granted under the Plan, to determine the amount of cash to
      be
      paid pursuant to each Award, and, pursuant to the provisions of the Plan, to
      determine the terms and conditions of each Award. 

     

    (c)    Delegation
      of Authority.

     

    (i)    Named
      Executive Officers and Section 16(b) Officers.
      All
      authority with respect to the grant, amendment, interpretation and
      administration of Awards with respect to any Eligible Employee who is either
      (x)
      a Named Executive Officer (i.e.,
      an
      officer who is required to be listed in the Company’s Proxy Statement Summary
      Compensation Table) or (y) is subject to the short-swing profit recapture rules
      of section 16(b) of the 1934 Act, is reserved to the Committee. 

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

    (ii)    Other
      Employees.
      The
      Committee may delegate to an officer of the Company, or a committee of two
      or
      more officers of the Company, discretion under the Plan to grant, amend,
      interpret and administer Awards with respect to any Eligible Employee other
      than
      an Eligible Employee described in Paragraph 3(c)(i); provided, however, that
      the
      Committee will establish the total dollar amount of Awards to be issued under
      the Plan to all Grantees for each Performance Period . 

     

    (d)    Grantee
      Information.
      The
      Company shall furnish to the Committee in writing all information the Company
      deems appropriate for the Committee to exercise its powers and duties in
      administration of the Plan. Such information shall be conclusive for all
      purposes of the Plan and the Committee shall be entitled to rely thereon without
      any investigation thereof; provided,
      however,
      that
      the Committee may correct any errors discovered in any such information.

     

    
      	 	
              4.

            	
              ELIGIBILITY

            

    

     

    Awards
      may be granted only to Eligible Employees of the Company and its Affiliates,
      as
      determined by the Committee. No Awards shall be granted to an individual who
      is
      not an Eligible Employee of the Company or an Affiliate of the
      Company.

     

    
      	
            	5.	
              AWARDS

            

    

     

    The
      Committee may grant Awards in accordance with the Plan. The terms and conditions
      of Awards shall be as determined from time to time by the Committee, consistent,
      however, with the following:

     

    (a)    Time
      of Grant.
      Awards
      may be granted at any time from the date of adoption of the Plan by the Board
      until the Plan is terminated by the Board or the Committee.

     

    (b)    Non-Uniformity
      of Awards.
      The
      provisions of Awards need not be the same with respect to each
      Grantee.

     

    (c)    Establishment
      of Targets and Conditions to Payment of Awards.
      

     

    (i)    
Awards
      shall be expressed as a percentage of a Grantee’s base salary. 

     

    (ii)    The
      Committee shall establish such conditions on the payment of a bonus pursuant
      to
      an Award as it may, in its sole discretion, deem appropriate. 

     

    (iii)   The
      Award
      may provide for the payment of Awards in installments, or upon the satisfaction
      of the Individual Performance Objectives or Corporate Performance Objectives,
      on
      an individual, divisional or Company-wide basis, as determined by the
      Committee.

     

    (iv)   Each
      Grantee shall be entitled to receive payment of the Award for the Performance
      Period, or the Quarterly Performance Period, as the case may be, only after
      certification by the Committee that the Targets established by the Committee
      for
      the Performance Period have been satisfied. The Company shall pay the Awards
      under the Plan to each Grantee as soon as practicable with respect to the
      Performance Period, but not later than June 30 following the completion of
      the
      Performance Period (the “Payment
      Date”),
      provided, that the Grantee has remained continuously employed by the Company
      through the Payment Date.
      Notwithstanding the foregoing, the Company shall pay the Awards that become
      payable upon completion of any Quarterly Performance Period (other than the
      Quarterly Performance Period ending on December 31, 2007), within 30 days
      following the completion of such Quarterly Performance Period (each also a
      “Payment
      Date”),
      provided, that the Grantee has remained continuously employed by the Company
      through that Payment Date. 

     

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

     

    (v)    For
      purposes of calculating whether any Corporate Performance Objective has been
      met, in the event there is a significant acquisition or disposition of any
      assets, business division, company or other business operations of the Company
      or such division or business unit that is reasonably expected to have an effect
      on the Corporate Performance Objective as otherwise determined under the terms
      of the Plan, the relevant performance objectives may, at the sole discretion
      of
      the Committee, be adjusted to take into account the impact of such acquisition
      or disposition by increasing or decreasing such goals in the same proportion
      as
      the relevant performance measure of the Company or such division or business
      unit would have been affected for the prior performance measurement period
      on a
      pro forma basis had such an acquisition or disposition occurred on the same
      date
      during the prior performance measurement period; provided further that such
      adjustment shall be based upon the historical equivalent of the relevant
      performance measure of the business or assets so acquired or disposed of for
      the
      prior performance measurement period, as shown by such records as are available
      to the Company, as further adjusted to reflect any aspects of the transaction
      that should be taken into account to ensure comparability between amounts in
      the
      prior performance measurement period and the current performance measurement
      period. 

     

    (vi)   Notwithstanding
      the determination of the amount of a Grantee’s bonus payable with respect to the
      Performance Period, or Quarterly Performance Period, as the case may be, the
      Committee shall have the discretion to reduce or eliminate the bonus otherwise
      payable to a Grantee if it determines that such a reduction or elimination
      of
      the bonus is in the best interests of the Company. In
      addition, in the discretion of the Committee, based on the satisfaction of
      performance objectives as it may determine, whether or not previously designated
      as a Target, such additional amounts as may be determined by the Committee
      may
      be included in an Award for a Performance Period, or Quarterly Performance
      Period, as the case may be. 

     

    (d)    Payment
      Conditioned on Continued Employment.
      No
      Grantee will be entitled to any payment hereunder with respect to the
      Performance Period, or Quarterly Performance Period, as the case may be, unless
      he or she has remained continuously employed by the Company or its Affiliates
      through the applicable Payment Date. 

     

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

    
      	 	
              6.

            	
              CHANGE
                IN CONTROL

            

    

     

    The
      Committee shall give Grantees at least thirty (30) days’ notice (or, if not
      practicable, such shorter notice as may be reasonably practicable) prior to
      the
      anticipated date of the consummation of a Change in Control. The Committee
      may,
      in its discretion, provide in such notice that upon the consummation of such
      Change in Control, any remaining conditions to payment of a Grantee’s Award
      shall be waived, in whole or in part.

     

    
      	 	
              7.

            	
              AMENDMENT
                AND TERMINATION

            

    

     

    The
      Plan
      may be terminated by the Board or the Committee at any time. The Plan may be
      amended by the Board or the Committee at any time. No Award shall be affected
      by
      any such termination or amendment without the written consent of the
      Grantee.

     

    
      	
            	8.	
              MISCELLANEOUS
                PROVISIONS 

            

    

     

    (a)    Unsecured
      Creditor Status.
      A
      Grantee entitled to payment of an Award hereunder shall rely solely upon the
      unsecured promise of the Company, as set forth herein, for the payment thereof,
      and nothing herein contained shall be construed to give to or vest in a Grantee
      or any other person now or at any time in the future, any right, title,
      interest, or claim in or to any specific asset, fund, reserve, account,
      insurance or annuity policy or contract, or other property of any kind whatever
      owned by the Company, or in which the Company may have any right, title, or
      interest, nor or at any time in the future.

     

    (b)    Non-Assignment
      of Awards.
      The
      Grantee shall not be permitted to sell, transfer, pledge or assign any amount
      payable pursuant to the Plan or an Award, provided that the right to payment
      under an Award may pass by will or the laws of descent and distribution.

     

    (c)    Internal
      Revenue Code Section 409A.
      The
      Company may exercise commercially reasonable efforts to apply the terms of
      this
      Plan in a manner consistent with the requirements of Section 409A of the
      Internal Revenue Code of 1986, as amended (the “Code”),
      and
      any regulations and/or administrative guidance issued thereunder, or to adjust
      the terms of this Plan to the extent necessary to avoid the application of
      additional taxes and penalties under Section 409A of the Code.

     

    (d)    Other
      Company Plans.
      It is
      agreed and understood that any benefits under this Plan are in addition to
      any
      and all benefits to which a Grantee may otherwise be entitled under any other
      contract, arrangement, or voluntary pension, profit sharing or other
      compensation plan of the Company, whether funded or unfunded, and that this
      Plan
      shall not affect or impair the rights or obligations of the Company or a Grantee
      under any other such contract, arrangement, or voluntary pension, profit sharing
      or other compensation plan.

     

    (e)    Separability.
      If any
      term or condition of the Plan shall be invalid or unenforceable to any extent
      or
      in any application, then the remainder of the Plan, with the exception of such
      invalid or unenforceable provision, shall not be affected thereby, and shall
      continue in effect and application to its fullest extent.

     

    
      
        
        

      

      
        -7-

        
          

        

      

      
        
        

      

    

    (f)    
Continued
      Employment.
      Neither
      the establishment of the Plan, any provisions of the Plan, nor any action of
      the
      Committee shall be held or construed to confer upon any Grantee the right to
      a
      continuation of employment by the Company. The Company reserves the right to
      dismiss any employee (including a Grantee), or otherwise deal with any employee
      (including a Grantee) to the same extent as though the Plan had not been
      adopted.

     

    (g)    Incapacity.
      If the
      Committee determines that a Grantee is unable to care for his or her affairs
      because of illness or accident, any benefit due such Grantee under the Plan
      may
      be paid to his or her spouse, child, parent, or any other person deemed by
      the
      Committee to have incurred expense for such Grantee (including a duly appointed
      guardian, committee, or other legal representative), and any such payment shall
      be a complete discharge of the Company’s obligation hereunder.

     

    (h)    Withholding.
      The
      Company shall withhold the amount of any federal, state, local or other tax,
      charge or assessment attributable to the grant of any Award or lapse of
      restrictions under any Award as it may deem necessary or appropriate, in its
      sole discretion.

     

    
      	 	
              9.

            	
              GOVERNING
                LAW

            

    

     

    The
      Plan
      and all determinations made and actions taken pursuant to the Plan shall be
      governed in accordance with Delaware law.

     

    
      	 	
              10.

            	
              EFFECTIVE
                DATE

            

    

     

    The
      effective date of the Plan is January 1, 2007. 

     

    Executed
      as of the 10th
      day of
      April, 2007

     

    
      	 	 	RCN
              CORPORATION	 
	 	 	 	 	 
	 	 	
              BY:

            	
              /s/ 
                Peter D. Aquino

            	 
	 	 	
               

            	 	 
	 	 	
              ATTEST:
                

            	
              /s/ 
                Benjamin R. Preston 

            	 

    

     

     

    -8-

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